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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, 26 April 12
TAIPOWER TO BUY 1.15 MILLION TONS OF 5000 GAR COAL
COALspot.com - Taiwan Power Company intends to procure 1.125million tons of sub-bituminous coal for Taipower thermal power plant through open tender ...
Thursday, 26 April 12
TAIPOWER TO BUY 375,000 MT OF 4800 GAR COAL
COALspot.com - Taiwan Power Company intends to procure 375,000 metric tons of low sulfur sub-bituminous coal for Taipower thermal power plant ...
Thursday, 26 April 12
ADK SHIPPED 28,000 TONNES OF COAL THIS MONTH
COALspot.com - Orpheus Energy (ASX:OEG) has announced that four coal barges carrying a total of approximately 28,000 tonnes of ADK (Alam Duta K ...
Thursday, 26 April 12
DRY BULK CARRIERS RENTER FLEET AFTER IDLING, ON MARKETS RECOVERY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market seems to be back on track, not only solidifying the gains of the past couple of weeks, but also racing to new heights, recuperra ...
Thursday, 26 April 12
PANAMAXES AGAIN EARN MORE THAN CAPESIZES - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The latest surge of demand for Panamaxes has led the dry bulk market to new higher ground on Monday, with the Baltic Dry Index (BDI) reaching 1,090 ...
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- Trasteel International SA, Italy
- Ceylon Electricity Board - Sri Lanka
- Riau Bara Harum - Indonesia
- Semirara Mining Corp, Philippines
- Sakthi Sugars Limited - India
- Intertek Mineral Services - Indonesia
- Global Green Power PLC Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Binh Thuan Hamico - Vietnam
- The University of Queensland
- Oldendorff Carriers - Singapore
- Vijayanagar Sugar Pvt Ltd - India
- Indogreen Group - Indonesia
- Coalindo Energy - Indonesia
- Mjunction Services Limited - India
- Xindia Steels Limited - India
- Vizag Seaport Private Limited - India
- Tamil Nadu electricity Board
- Borneo Indobara - Indonesia
- Meenaskhi Energy Private Limited - India
- Indo Tambangraya Megah - Indonesia
- SMC Global Power, Philippines
- McConnell Dowell - Australia
- Holcim Trading Pte Ltd - Singapore
- Power Finance Corporation Ltd., India
- Parliament of New Zealand
- CIMB Investment Bank - Malaysia
- Karbindo Abesyapradhi - Indoneisa
- GVK Power & Infra Limited - India
- Gujarat Sidhee Cement - India
- Madhucon Powers Ltd - India
- Salva Resources Pvt Ltd - India
- Carbofer General Trading SA - India
- PowerSource Philippines DevCo
- Sojitz Corporation - Japan
- Jindal Steel & Power Ltd - India
- Thiess Contractors Indonesia
- MS Steel International - UAE
- Miang Besar Coal Terminal - Indonesia
- Posco Energy - South Korea
- Star Paper Mills Limited - India
- Indonesian Coal Mining Association
- Pipit Mutiara Jaya. PT, Indonesia
- Bhatia International Limited - India
- Renaissance Capital - South Africa
- Karaikal Port Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Goldman Sachs - Singapore
- Kobexindo Tractors - Indoneisa
- Bukit Baiduri Energy - Indonesia
- Ind-Barath Power Infra Limited - India
- South Luzon Thermal Energy Corporation
- Gujarat Electricity Regulatory Commission - India
- Ambuja Cements Ltd - India
- PTC India Limited - India
- Ministry of Finance - Indonesia
- Indika Energy - Indonesia
- Directorate Of Revenue Intelligence - India
- CNBM International Corporation - China
- GMR Energy Limited - India
- Baramulti Group, Indonesia
- Kapuas Tunggal Persada - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Maheswari Brothers Coal Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Minerals Council of Australia
- Indian Energy Exchange, India
- Straits Asia Resources Limited - Singapore
- Grasim Industreis Ltd - India
- Aditya Birla Group - India
- Orica Australia Pty. Ltd.
- Sree Jayajothi Cements Limited - India
- Tata Chemicals Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Directorate General of MIneral and Coal - Indonesia
- Altura Mining Limited, Indonesia
- Anglo American - United Kingdom
- Bangladesh Power Developement Board
- Kepco SPC Power Corporation, Philippines
- SMG Consultants - Indonesia
- Chettinad Cement Corporation Ltd - India
- Chamber of Mines of South Africa
- Merrill Lynch Commodities Europe
- Essar Steel Hazira Ltd - India
- Electricity Generating Authority of Thailand
- Pendopo Energi Batubara - Indonesia
- Bayan Resources Tbk. - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Petron Corporation, Philippines
- Malabar Cements Ltd - India
- Rio Tinto Coal - Australia
- Kaltim Prima Coal - Indonesia
- Aboitiz Power Corporation - Philippines
- Price Waterhouse Coopers - Russia
- Energy Link Ltd, New Zealand
- Eastern Coal Council - USA
- Sical Logistics Limited - India
- International Coal Ventures Pvt Ltd - India
- Mercator Lines Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Attock Cement Pakistan Limited
- Mintek Dendrill Indonesia
- Edison Trading Spa - Italy
- GN Power Mariveles Coal Plant, Philippines
- Sarangani Energy Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- Kohat Cement Company Ltd. - Pakistan
- Maharashtra Electricity Regulatory Commission - India
- Meralco Power Generation, Philippines
- Standard Chartered Bank - UAE
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Uttam Galva Steels Limited - India
- European Bulk Services B.V. - Netherlands
- Bank of Tokyo Mitsubishi UFJ Ltd
- Australian Commodity Traders Exchange
- Semirara Mining and Power Corporation, Philippines
- Videocon Industries ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Latin American Coal - Colombia
- Singapore Mercantile Exchange
- Kumho Petrochemical, South Korea
- TNB Fuel Sdn Bhd - Malaysia
- Bharathi Cement Corporation - India
- Lanco Infratech Ltd - India
- San Jose City I Power Corp, Philippines
- Romanian Commodities Exchange
- Indian Oil Corporation Limited
- Therma Luzon, Inc, Philippines
- Globalindo Alam Lestari - Indonesia
- Bhushan Steel Limited - India
- Vedanta Resources Plc - India
- New Zealand Coal & Carbon
- Manunggal Multi Energi - Indonesia
- Central Java Power - Indonesia
- London Commodity Brokers - England
- Siam City Cement PLC, Thailand
- IEA Clean Coal Centre - UK
- Bukit Makmur.PT - Indonesia
- Leighton Contractors Pty Ltd - Australia
- ICICI Bank Limited - India
- Interocean Group of Companies - India
- Jaiprakash Power Ventures ltd
- Port Waratah Coal Services - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Samtan Co., Ltd - South Korea
- Dalmia Cement Bharat India
- Coal and Oil Company - UAE
- Heidelberg Cement - Germany
- Commonwealth Bank - Australia
- OPG Power Generation Pvt Ltd - India
- Independent Power Producers Association of India
- Deloitte Consulting - India
- Wilmar Investment Holdings
- The Treasury - Australian Government
- Cement Manufacturers Association - India
- SN Aboitiz Power Inc, Philippines
- Wood Mackenzie - Singapore
- Economic Council, Georgia
- Antam Resourcindo - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Billiton Holdings Pty Ltd - Australia
- India Bulls Power Limited - India
- Alfred C Toepfer International GmbH - Germany
- Eastern Energy - Thailand
- Electricity Authority, New Zealand
- Ministry of Transport, Egypt
- Africa Commodities Group - South Africa
- Timah Investasi Mineral - Indoneisa
- Thai Mozambique Logistica
- Siam City Cement - Thailand
- Iligan Light & Power Inc, Philippines
- Medco Energi Mining Internasional
- Toyota Tsusho Corporation, Japan
- Sindya Power Generating Company Private Ltd
- Formosa Plastics Group - Taiwan
- Petrochimia International Co. Ltd.- Taiwan
- Metalloyd Limited - United Kingdom
- Kideco Jaya Agung - Indonesia
- Planning Commission, India
- Marubeni Corporation - India
- Coastal Gujarat Power Limited - India
- Savvy Resources Ltd - HongKong
- Cigading International Bulk Terminal - Indonesia
- Barasentosa Lestari - Indonesia
- Parry Sugars Refinery, India
- Central Electricity Authority - India
- Makarim & Taira - Indonesia
- GAC Shipping (India) Pvt Ltd
- LBH Netherlands Bv - Netherlands
- Energy Development Corp, Philippines
- White Energy Company Limited
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kartika Selabumi Mining - Indonesia
- Global Coal Blending Company Limited - Australia
- Krishnapatnam Port Company Ltd. - India
- Larsen & Toubro Limited - India
- ASAPP Information Group - India
- Agrawal Coal Company - India
- TeaM Sual Corporation - Philippines
- Australian Coal Association
- Orica Mining Services - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- VISA Power Limited - India
- PNOC Exploration Corporation - Philippines
- Simpson Spence & Young - Indonesia
- Banpu Public Company Limited - Thailand
- Mercuria Energy - Indonesia
- Global Business Power Corporation, Philippines
- Ministry of Mines - Canada
- Bulk Trading Sa - Switzerland
- AsiaOL BioFuels Corp., Philippines
- Kalimantan Lumbung Energi - Indonesia
- Georgia Ports Authority, United States
- Rashtriya Ispat Nigam Limited - India
- The State Trading Corporation of India Ltd
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