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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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Wednesday, 25 April 12
CHINA IMPORTS 9.76 MMT AND INDIA IMPORTS 7.03 MMT OF INDONESIAN COAL LAST MONTH
COALspot.com: Indonesia, the world largest coal exporter, shipped 30.64* million tons of coal in March 2012, compared to 27.12* million tons i ...
Monday, 23 April 12
ALTURA ENTERS INTO AGREEMENT TO ACQUIRE 2 COAL PROJECTS IN SOUTH KALIMANTAN
COALspot.com - Altura Mining Limited (ASX: AJM) has announced that it has entered into an agreement to acquire a further two (2) Mining Permits (IUP ...
Sunday, 22 April 12
THE FREIGHT MARKET EXPECTED TO REMAIN FIRM NEXT WEEK - VISTAAR
COALspot.com - The BDI has broken the psychological barrier of 1000 points and closed at 1067 points.
The cape index was slightly down by 2.48 pc ...
Saturday, 21 April 12
INDONESIAN SUB-BITUMINOUS COAL SWAPS DROP 2.61 PERCENT THIS WEEK
COALspot.com - Indonesian sub-bituminous coal swaps fell for a fifth day, according to DSP of SGX AsiaClear OTC Coal Swaps.
CFR South China Coal ...
Friday, 20 April 12
PANAMAXES LEAD DRY BULK MARKET TO HIGHER GROUND - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
A rebound of demand for smaller dry bulk carriers has led the industry’s benchmark, the BDI (Baltic Dry Index) above the 1,000-point mark for ...
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- Attock Cement Pakistan Limited
- Formosa Plastics Group - Taiwan
- Goldman Sachs - Singapore
- Coalindo Energy - Indonesia
- Aboitiz Power Corporation - Philippines
- The University of Queensland
- Meenaskhi Energy Private Limited - India
- Posco Energy - South Korea
- Semirara Mining Corp, Philippines
- Karbindo Abesyapradhi - Indoneisa
- SN Aboitiz Power Inc, Philippines
- Global Green Power PLC Corporation, Philippines
- MS Steel International - UAE
- PowerSource Philippines DevCo
- Makarim & Taira - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Australian Commodity Traders Exchange
- Salva Resources Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- Ministry of Mines - Canada
- Standard Chartered Bank - UAE
- Savvy Resources Ltd - HongKong
- PTC India Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Global Business Power Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Bayan Resources Tbk. - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- Romanian Commodities Exchange
- Gujarat Mineral Development Corp Ltd - India
- GVK Power & Infra Limited - India
- Electricity Authority, New Zealand
- Eastern Energy - Thailand
- Parliament of New Zealand
- Interocean Group of Companies - India
- Riau Bara Harum - Indonesia
- Minerals Council of Australia
- Wood Mackenzie - Singapore
- Samtan Co., Ltd - South Korea
- Xindia Steels Limited - India
- OPG Power Generation Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Tata Chemicals Ltd - India
- Coal and Oil Company - UAE
- Lanco Infratech Ltd - India
- Medco Energi Mining Internasional
- Jorong Barutama Greston.PT - Indonesia
- Ceylon Electricity Board - Sri Lanka
- GAC Shipping (India) Pvt Ltd
- Asmin Koalindo Tuhup - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Kobexindo Tractors - Indoneisa
- Energy Development Corp, Philippines
- Intertek Mineral Services - Indonesia
- Bukit Baiduri Energy - Indonesia
- Essar Steel Hazira Ltd - India
- Africa Commodities Group - South Africa
- Semirara Mining and Power Corporation, Philippines
- Sarangani Energy Corporation, Philippines
- Sical Logistics Limited - India
- Indonesian Coal Mining Association
- ICICI Bank Limited - India
- Mintek Dendrill Indonesia
- Aditya Birla Group - India
- Malabar Cements Ltd - India
- Mercator Lines Limited - India
- Commonwealth Bank - Australia
- Altura Mining Limited, Indonesia
- Central Electricity Authority - India
- Bahari Cakrawala Sebuku - Indonesia
- New Zealand Coal & Carbon
- Edison Trading Spa - Italy
- Antam Resourcindo - Indonesia
- London Commodity Brokers - England
- Petron Corporation, Philippines
- Singapore Mercantile Exchange
- Gujarat Sidhee Cement - India
- Metalloyd Limited - United Kingdom
- Grasim Industreis Ltd - India
- SMG Consultants - Indonesia
- Star Paper Mills Limited - India
- Latin American Coal - Colombia
- Bangladesh Power Developement Board
- Uttam Galva Steels Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indika Energy - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Barasentosa Lestari - Indonesia
- Vedanta Resources Plc - India
- Alfred C Toepfer International GmbH - Germany
- Global Coal Blending Company Limited - Australia
- Eastern Coal Council - USA
- Australian Coal Association
- Bhatia International Limited - India
- Simpson Spence & Young - Indonesia
- Economic Council, Georgia
- Sinarmas Energy and Mining - Indonesia
- San Jose City I Power Corp, Philippines
- Binh Thuan Hamico - Vietnam
- Sakthi Sugars Limited - India
- CIMB Investment Bank - Malaysia
- Agrawal Coal Company - India
- Jindal Steel & Power Ltd - India
- Power Finance Corporation Ltd., India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Planning Commission, India
- Bukit Asam (Persero) Tbk - Indonesia
- Energy Link Ltd, New Zealand
- Iligan Light & Power Inc, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Marubeni Corporation - India
- Port Waratah Coal Services - Australia
- VISA Power Limited - India
- Ministry of Transport, Egypt
- IEA Clean Coal Centre - UK
- Cement Manufacturers Association - India
- Petrochimia International Co. Ltd.- Taiwan
- Toyota Tsusho Corporation, Japan
- Indogreen Group - Indonesia
- Coastal Gujarat Power Limited - India
- Mjunction Services Limited - India
- Borneo Indobara - Indonesia
- Deloitte Consulting - India
- AsiaOL BioFuels Corp., Philippines
- Gujarat Electricity Regulatory Commission - India
- Sindya Power Generating Company Private Ltd
- LBH Netherlands Bv - Netherlands
- Vijayanagar Sugar Pvt Ltd - India
- Heidelberg Cement - Germany
- White Energy Company Limited
- SMC Global Power, Philippines
- Directorate Of Revenue Intelligence - India
- Jaiprakash Power Ventures ltd
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ambuja Cements Ltd - India
- Ind-Barath Power Infra Limited - India
- Tamil Nadu electricity Board
- Chettinad Cement Corporation Ltd - India
- Trasteel International SA, Italy
- Sojitz Corporation - Japan
- TNB Fuel Sdn Bhd - Malaysia
- Dalmia Cement Bharat India
- PNOC Exploration Corporation - Philippines
- Thiess Contractors Indonesia
- Holcim Trading Pte Ltd - Singapore
- Carbofer General Trading SA - India
- Bukit Makmur.PT - Indonesia
- Thai Mozambique Logistica
- Anglo American - United Kingdom
- Banpu Public Company Limited - Thailand
- Siam City Cement - Thailand
- Meralco Power Generation, Philippines
- Karaikal Port Pvt Ltd - India
- ASAPP Information Group - India
- South Luzon Thermal Energy Corporation
- Price Waterhouse Coopers - Russia
- Independent Power Producers Association of India
- Indian Energy Exchange, India
- Orica Mining Services - Indonesia
- Siam City Cement PLC, Thailand
- The Treasury - Australian Government
- Oldendorff Carriers - Singapore
- Kideco Jaya Agung - Indonesia
- India Bulls Power Limited - India
- Merrill Lynch Commodities Europe
- TeaM Sual Corporation - Philippines
- Kepco SPC Power Corporation, Philippines
- The State Trading Corporation of India Ltd
- McConnell Dowell - Australia
- Madhucon Powers Ltd - India
- IHS Mccloskey Coal Group - USA
- Bharathi Cement Corporation - India
- Krishnapatnam Port Company Ltd. - India
- Chamber of Mines of South Africa
- International Coal Ventures Pvt Ltd - India
- Indian Oil Corporation Limited
- Electricity Generating Authority of Thailand
- PetroVietnam Power Coal Import and Supply Company
- Orica Australia Pty. Ltd.
- Bhoruka Overseas - Indonesia
- Kumho Petrochemical, South Korea
- CNBM International Corporation - China
- Georgia Ports Authority, United States
- Vizag Seaport Private Limited - India
- Kartika Selabumi Mining - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Parry Sugars Refinery, India
- GN Power Mariveles Coal Plant, Philippines
- Bhushan Steel Limited - India
- Larsen & Toubro Limited - India
- Baramulti Group, Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Straits Asia Resources Limited - Singapore
- Kalimantan Lumbung Energi - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Indo Tambangraya Megah - Indonesia
- Globalindo Alam Lestari - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Central Java Power - Indonesia
- Kaltim Prima Coal - Indonesia
- Bulk Trading Sa - Switzerland
- Timah Investasi Mineral - Indoneisa
- Manunggal Multi Energi - Indonesia
- Ministry of Finance - Indonesia
- Pendopo Energi Batubara - Indonesia
- Rio Tinto Coal - Australia
- Mercuria Energy - Indonesia
- GMR Energy Limited - India
- Videocon Industries ltd - India
- Wilmar Investment Holdings
- Renaissance Capital - South Africa
- Maheswari Brothers Coal Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
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