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Tuesday, 07 August 12
THE JAKARTA POST EDITORIAL: REVISITING THE MINING LAW
 The Jakarta post, one of the leading English news paper in Indonesia writes in its editorial today, what the domestic and foreign investors had dreaded after the 2009 Mining and Coal law was enacted after more than three years of squabbling in the House of Representatives, has taken place.
The combination of inadequate institutional capacity, greed and corruption has resulted in the issuance of thousands of overlapping mining permits which contravened other laws, especially those regarding forestry and the environment.
The philosophy of the law was politically welcomed because the legislation devolves the authority for awarding mining licenses, outside oil and natural gas, to regional administrations (mostly regents). That was considered the best way of ensuring that natural resources are managed to serve the best interests of the local people.
Politicians in the House imagined the new legislation would better serve national interests, as it limits areas of exploration to 100,000 hectares, and cuts the validity of mining operations from a maximum of 70 years to 20, with two possible 10-year extensions.
Mining firms were expected to be more responsible, because, different from a contract of work, which integrates permits for all stages of mining operations, the new law requires companies to seek separate permits for each phase of mining activity – from exploration to feasibility studies and construction of production facilities. Mining firms must also process all mining products locally into metal starting in 2014.
But as more than 5,000 legally-flawed mining permits have been issued, many now question whether the decentralization of mining permits, mostly to regents, is in compliance with the 33rd article of the Constitution, which stipulates that the land, the waters and the natural resources within shall be under the powers of the state and shall be used to the greatest benefit of the people.
The shorter mining permits seem to have prompted reckless over-exploitation of resources, as can be seen in the exponential increase in unprocessed mineral exports over the past two years: nickel ore exports rose eightfold to 33 million tons in 2011, iron ore sevenfold to 13 million tons, copper more than tenfold to 14 million tons and bauxite fivefold to 40 million tons.
What makes everything even more murky, and causes legal black holes, are two contradictory provisions in the new law. One of them states that the sanctity of contracts of work in mining issued before the new law will be fully honored, but another provision stipulates that such pre-existing contracts must be adjusted to the provisions of the new law.
The Energy and Mineral Resources Ministry is now reviewing more than 5,000 legally defective mining permits, and has forced mining companies to be more serious in processing their minerals or metals locally by imposing export taxes on unprocessed mineral exports.
Such a piece-meal solution, let alone the issuance of ill-thought policy instruments as the surcharge on unprocessed mineral exports, is not effective in addressing the imbroglio that has been gripping the mining industry over the past three years.
The problem is that the central government itself took almost two years to prepare all the derivative regulations to implement the 2009 mining law. Hence, the law has been in full-fledged enforcement for only about two years now, while the implementation of many of its provisions on processing industry require more than three years of preparation and five years for construction.
In fact, it will take more than three years to increase the technical competence of district or regency administrations to enforce the law, and much longer for firms to plan and build smelters, which requires a huge amount of low-cost energy to be feasible.
It is thus a matter of urgency that the central government, regional mining chiefs and mining companies, sit down for an overall review of the mining law and make whatever adjustments are needed to make it politically and commercially enforceable.
Source: The Jakarta Post
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Thursday, 03 May 12
DRY BULK MARKET REMAINS INACTIVE, POSTING MILD DECREASE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has kept retreating this week, although at a very low pace, on the back of a lull in demand. The industry's benchmark, th ...
Thursday, 03 May 12
MINERS DEMAND LEGAL CERTAINTY ON PRE-BAN INTERIM POLICY - THE JAKARTA POST
The Jakarta Post reported that, Mining companies represented by the Indonesian Mining Association (IMA) welcomed the government’s plan to impo ...
Thursday, 03 May 12
HANDY EAST COAST INDIA - CHINA AROUND USD 7000 - FEARNLEYS AS
Handy - Stable demand in the Atlantic offered good rates for the tonnage.
USG/Cont was worth USD 17500 and more. Baltic and Black Sea appeared to ...
Wednesday, 02 May 12
CHINA BLACKOUTS HIGHLIGHT PRICING POLICY WEAKNESS - FITCH
Fitch reported that, the likelihood of further electricity blackouts in China this summer underlines Fitch's view of the basic problem f ...
Tuesday, 01 May 12
VIETNAM FEARS IT MAY NOT SEEK COAL SUPPLIES - TBKTSG / VIETNAMNET BRIDGE
TBKTSG / VietNamNet Bridge reported that, with five coal-run thermopower plants under construction, PetroVietnam alone would need 18 million tons of ...
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Showing 4741 to 4745 news of total 6871 |
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- Latin American Coal - Colombia
- Gujarat Mineral Development Corp Ltd - India
- Posco Energy - South Korea
- Ministry of Mines - Canada
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Dalmia Cement Bharat India
- Metalloyd Limited - United Kingdom
- Directorate General of MIneral and Coal - Indonesia
- Deloitte Consulting - India
- Global Green Power PLC Corporation, Philippines
- Xindia Steels Limited - India
- Renaissance Capital - South Africa
- Star Paper Mills Limited - India
- Grasim Industreis Ltd - India
- Commonwealth Bank - Australia
- Karbindo Abesyapradhi - Indoneisa
- Indo Tambangraya Megah - Indonesia
- India Bulls Power Limited - India
- Global Business Power Corporation, Philippines
- Intertek Mineral Services - Indonesia
- Antam Resourcindo - Indonesia
- Madhucon Powers Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Central Electricity Authority - India
- Jorong Barutama Greston.PT - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Savvy Resources Ltd - HongKong
- GAC Shipping (India) Pvt Ltd
- GN Power Mariveles Coal Plant, Philippines
- Attock Cement Pakistan Limited
- Wood Mackenzie - Singapore
- South Luzon Thermal Energy Corporation
- Bhushan Steel Limited - India
- Holcim Trading Pte Ltd - Singapore
- Leighton Contractors Pty Ltd - Australia
- Vedanta Resources Plc - India
- ASAPP Information Group - India
- Makarim & Taira - Indonesia
- Power Finance Corporation Ltd., India
- Pipit Mutiara Jaya. PT, Indonesia
- Rashtriya Ispat Nigam Limited - India
- White Energy Company Limited
- Electricity Generating Authority of Thailand
- Vijayanagar Sugar Pvt Ltd - India
- Merrill Lynch Commodities Europe
- Bulk Trading Sa - Switzerland
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indogreen Group - Indonesia
- Heidelberg Cement - Germany
- Oldendorff Carriers - Singapore
- Indian Energy Exchange, India
- Semirara Mining Corp, Philippines
- Gujarat Electricity Regulatory Commission - India
- Coalindo Energy - Indonesia
- Borneo Indobara - Indonesia
- Thai Mozambique Logistica
- Iligan Light & Power Inc, Philippines
- Kumho Petrochemical, South Korea
- Miang Besar Coal Terminal - Indonesia
- MS Steel International - UAE
- Straits Asia Resources Limited - Singapore
- Edison Trading Spa - Italy
- Billiton Holdings Pty Ltd - Australia
- Australian Commodity Traders Exchange
- Simpson Spence & Young - Indonesia
- Energy Development Corp, Philippines
- Bangladesh Power Developement Board
- TeaM Sual Corporation - Philippines
- Africa Commodities Group - South Africa
- Ceylon Electricity Board - Sri Lanka
- Sinarmas Energy and Mining - Indonesia
- Siam City Cement PLC, Thailand
- Karaikal Port Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Meralco Power Generation, Philippines
- Malabar Cements Ltd - India
- Tata Chemicals Ltd - India
- The University of Queensland
- Baramulti Group, Indonesia
- Lanco Infratech Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- The Treasury - Australian Government
- Altura Mining Limited, Indonesia
- Timah Investasi Mineral - Indoneisa
- Parliament of New Zealand
- Riau Bara Harum - Indonesia
- Medco Energi Mining Internasional
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bukit Asam (Persero) Tbk - Indonesia
- Anglo American - United Kingdom
- Directorate Of Revenue Intelligence - India
- Globalindo Alam Lestari - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Bayan Resources Tbk. - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Coastal Gujarat Power Limited - India
- Independent Power Producers Association of India
- Krishnapatnam Port Company Ltd. - India
- CIMB Investment Bank - Malaysia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- Kobexindo Tractors - Indoneisa
- Mjunction Services Limited - India
- Jaiprakash Power Ventures ltd
- Aditya Birla Group - India
- Aboitiz Power Corporation - Philippines
- Economic Council, Georgia
- Meenaskhi Energy Private Limited - India
- The State Trading Corporation of India Ltd
- Chettinad Cement Corporation Ltd - India
- Mercator Lines Limited - India
- Mercuria Energy - Indonesia
- Bharathi Cement Corporation - India
- Banpu Public Company Limited - Thailand
- TNB Fuel Sdn Bhd - Malaysia
- Manunggal Multi Energi - Indonesia
- Sindya Power Generating Company Private Ltd
- Salva Resources Pvt Ltd - India
- Orica Mining Services - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Indika Energy - Indonesia
- European Bulk Services B.V. - Netherlands
- Formosa Plastics Group - Taiwan
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ministry of Finance - Indonesia
- Sical Logistics Limited - India
- Eastern Coal Council - USA
- IHS Mccloskey Coal Group - USA
- Therma Luzon, Inc, Philippines
- Eastern Energy - Thailand
- Australian Coal Association
- Sree Jayajothi Cements Limited - India
- GVK Power & Infra Limited - India
- Cigading International Bulk Terminal - Indonesia
- ICICI Bank Limited - India
- Barasentosa Lestari - Indonesia
- SN Aboitiz Power Inc, Philippines
- Indian Oil Corporation Limited
- Uttam Galva Steels Limited - India
- VISA Power Limited - India
- Toyota Tsusho Corporation, Japan
- Pendopo Energi Batubara - Indonesia
- Singapore Mercantile Exchange
- GMR Energy Limited - India
- IEA Clean Coal Centre - UK
- Georgia Ports Authority, United States
- Sakthi Sugars Limited - India
- Tamil Nadu electricity Board
- Port Waratah Coal Services - Australia
- Alfred C Toepfer International GmbH - Germany
- Indonesian Coal Mining Association
- Standard Chartered Bank - UAE
- PetroVietnam Power Coal Import and Supply Company
- OPG Power Generation Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- London Commodity Brokers - England
- LBH Netherlands Bv - Netherlands
- Coal and Oil Company - UAE
- PTC India Limited - India
- Bukit Baiduri Energy - Indonesia
- Orica Australia Pty. Ltd.
- Parry Sugars Refinery, India
- Samtan Co., Ltd - South Korea
- Bhatia International Limited - India
- CNBM International Corporation - China
- New Zealand Coal & Carbon
- SMG Consultants - Indonesia
- Romanian Commodities Exchange
- Larsen & Toubro Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Energy Link Ltd, New Zealand
- Electricity Authority, New Zealand
- Petron Corporation, Philippines
- Sojitz Corporation - Japan
- Trasteel International SA, Italy
- Goldman Sachs - Singapore
- Vizag Seaport Private Limited - India
- Cement Manufacturers Association - India
- Gujarat Sidhee Cement - India
- Ministry of Transport, Egypt
- PNOC Exploration Corporation - Philippines
- Maheswari Brothers Coal Limited - India
- Thiess Contractors Indonesia
- Bukit Makmur.PT - Indonesia
- Videocon Industries ltd - India
- International Coal Ventures Pvt Ltd - India
- Kideco Jaya Agung - Indonesia
- Planning Commission, India
- Minerals Council of Australia
- Essar Steel Hazira Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Jindal Steel & Power Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Bhoruka Overseas - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Sarangani Energy Corporation, Philippines
- PowerSource Philippines DevCo
- Rio Tinto Coal - Australia
- Marubeni Corporation - India
- Siam City Cement - Thailand
- Binh Thuan Hamico - Vietnam
- Central Java Power - Indonesia
- Carbofer General Trading SA - India
- SMC Global Power, Philippines
- McConnell Dowell - Australia
- Wilmar Investment Holdings
- San Jose City I Power Corp, Philippines
- Chamber of Mines of South Africa
- Price Waterhouse Coopers - Russia
- Mintek Dendrill Indonesia
- Ambuja Cements Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Agrawal Coal Company - India
- Ind-Barath Power Infra Limited - India
- Interocean Group of Companies - India
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