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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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Friday, 20 April 12
BUMA HAS PRODUCED 2.6 MILLION TONS OF COAL IN MARCH 2012
COALspot.com - BUMA has removed 28.0 million bcm (+6.4% YoY) of overburden in March 2012 while coal production was at 2.6 million tons (+1.3% YoY).
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Thursday, 19 April 12
FRESH COAL SALES FROM JATENERGYS JONGKANG MINES
COALspot.com - Energy company Jatenergy Ltd (ASX code JAT) announced today that it had signed a contract for an 11,000 tonne coal sale due for shipm ...
Thursday, 19 April 12
HANDY - 'POSITIVE TREND', PANAMAX - 'A FIRMER TENDENCY', CAPESIZE - 'AGAIN NEGATIVE'
Handy
The positive trend from last week continued, with more cargoes entering the market. Skaw/Passero del fixed tick above USD 4000 for US Gulf di ...
Thursday, 19 April 12
WILLIS MARINE MARKET REVIEW FORECASTS ANOTHER DIFFICULT YEAR - WILLIS GLOBAL MARINE / HELLENIC SHIPPING
After an inauspicious start, 2012 could well be "another difficult and uncertain year for the maritime industry faced with the aftermath of the ...
Wednesday, 18 April 12
INDONESIA TO INTRODUCE EXPORT DUTY ON MINERAL ORES BY 6 MAY 2012
The Indonesian government is scheduled to issue regulation on export duty for minerals before May 6, 2012.
According to Bisnis Indonesia, as quot ...
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- Ceylon Electricity Board - Sri Lanka
- Tamil Nadu electricity Board
- Larsen & Toubro Limited - India
- Petron Corporation, Philippines
- Georgia Ports Authority, United States
- Rashtriya Ispat Nigam Limited - India
- Energy Development Corp, Philippines
- Sojitz Corporation - Japan
- Kideco Jaya Agung - Indonesia
- Riau Bara Harum - Indonesia
- Tata Chemicals Ltd - India
- Bukit Makmur.PT - Indonesia
- Interocean Group of Companies - India
- Anglo American - United Kingdom
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ministry of Transport, Egypt
- LBH Netherlands Bv - Netherlands
- Xindia Steels Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Essar Steel Hazira Ltd - India
- The University of Queensland
- Goldman Sachs - Singapore
- Timah Investasi Mineral - Indoneisa
- SMG Consultants - Indonesia
- Africa Commodities Group - South Africa
- Banpu Public Company Limited - Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- Sree Jayajothi Cements Limited - India
- Ind-Barath Power Infra Limited - India
- Indonesian Coal Mining Association
- Kohat Cement Company Ltd. - Pakistan
- South Luzon Thermal Energy Corporation
- Parry Sugars Refinery, India
- Bhatia International Limited - India
- Krishnapatnam Port Company Ltd. - India
- IEA Clean Coal Centre - UK
- Jaiprakash Power Ventures ltd
- ICICI Bank Limited - India
- Energy Link Ltd, New Zealand
- GN Power Mariveles Coal Plant, Philippines
- Kobexindo Tractors - Indoneisa
- San Jose City I Power Corp, Philippines
- Merrill Lynch Commodities Europe
- Economic Council, Georgia
- VISA Power Limited - India
- Thiess Contractors Indonesia
- Global Coal Blending Company Limited - Australia
- Orica Australia Pty. Ltd.
- Kepco SPC Power Corporation, Philippines
- Wood Mackenzie - Singapore
- Latin American Coal - Colombia
- Ministry of Mines - Canada
- Indogreen Group - Indonesia
- Global Green Power PLC Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Leighton Contractors Pty Ltd - Australia
- Kartika Selabumi Mining - Indonesia
- Sindya Power Generating Company Private Ltd
- OPG Power Generation Pvt Ltd - India
- Aditya Birla Group - India
- SN Aboitiz Power Inc, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- Iligan Light & Power Inc, Philippines
- Miang Besar Coal Terminal - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- Salva Resources Pvt Ltd - India
- Central Electricity Authority - India
- IHS Mccloskey Coal Group - USA
- Borneo Indobara - Indonesia
- Cement Manufacturers Association - India
- Medco Energi Mining Internasional
- Altura Mining Limited, Indonesia
- Madhucon Powers Ltd - India
- Baramulti Group, Indonesia
- Deloitte Consulting - India
- Price Waterhouse Coopers - Russia
- McConnell Dowell - Australia
- Meenaskhi Energy Private Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Mercator Lines Limited - India
- Heidelberg Cement - Germany
- Mintek Dendrill Indonesia
- Planning Commission, India
- GVK Power & Infra Limited - India
- Kumho Petrochemical, South Korea
- Uttam Galva Steels Limited - India
- MS Steel International - UAE
- Meralco Power Generation, Philippines
- Indian Oil Corporation Limited
- Sical Logistics Limited - India
- Ambuja Cements Ltd - India
- Jindal Steel & Power Ltd - India
- PowerSource Philippines DevCo
- Vizag Seaport Private Limited - India
- Eastern Coal Council - USA
- Aboitiz Power Corporation - Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- PNOC Exploration Corporation - Philippines
- Rio Tinto Coal - Australia
- Intertek Mineral Services - Indonesia
- Simpson Spence & Young - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Eastern Energy - Thailand
- Coalindo Energy - Indonesia
- Mjunction Services Limited - India
- Parliament of New Zealand
- Videocon Industries ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- European Bulk Services B.V. - Netherlands
- Gujarat Sidhee Cement - India
- Bahari Cakrawala Sebuku - Indonesia
- TeaM Sual Corporation - Philippines
- Cigading International Bulk Terminal - Indonesia
- Antam Resourcindo - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Metalloyd Limited - United Kingdom
- SMC Global Power, Philippines
- Australian Coal Association
- New Zealand Coal & Carbon
- Trasteel International SA, Italy
- Sinarmas Energy and Mining - Indonesia
- Carbofer General Trading SA - India
- The Treasury - Australian Government
- PTC India Limited - India
- India Bulls Power Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Chettinad Cement Corporation Ltd - India
- Straits Asia Resources Limited - Singapore
- Renaissance Capital - South Africa
- Global Business Power Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Savvy Resources Ltd - HongKong
- Malabar Cements Ltd - India
- Formosa Plastics Group - Taiwan
- GMR Energy Limited - India
- Toyota Tsusho Corporation, Japan
- Wilmar Investment Holdings
- Bukit Baiduri Energy - Indonesia
- Independent Power Producers Association of India
- Semirara Mining Corp, Philippines
- Dalmia Cement Bharat India
- Indo Tambangraya Megah - Indonesia
- Globalindo Alam Lestari - Indonesia
- Chamber of Mines of South Africa
- Central Java Power - Indonesia
- Manunggal Multi Energi - Indonesia
- Lanco Infratech Ltd - India
- Star Paper Mills Limited - India
- Billiton Holdings Pty Ltd - Australia
- PetroVietnam Power Coal Import and Supply Company
- Vedanta Resources Plc - India
- Port Waratah Coal Services - Australia
- Sarangani Energy Corporation, Philippines
- Sakthi Sugars Limited - India
- Singapore Mercantile Exchange
- Agrawal Coal Company - India
- Indian Energy Exchange, India
- Asmin Koalindo Tuhup - Indonesia
- CIMB Investment Bank - Malaysia
- Grasim Industreis Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Jorong Barutama Greston.PT - Indonesia
- Pendopo Energi Batubara - Indonesia
- Australian Commodity Traders Exchange
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Attock Cement Pakistan Limited
- Directorate Of Revenue Intelligence - India
- ASAPP Information Group - India
- Bhushan Steel Limited - India
- Power Finance Corporation Ltd., India
- Electricity Authority, New Zealand
- Orica Mining Services - Indonesia
- Romanian Commodities Exchange
- Siam City Cement - Thailand
- Indika Energy - Indonesia
- Bhoruka Overseas - Indonesia
- Minerals Council of Australia
- White Energy Company Limited
- AsiaOL BioFuels Corp., Philippines
- Siam City Cement PLC, Thailand
- Mercuria Energy - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Gujarat Electricity Regulatory Commission - India
- Alfred C Toepfer International GmbH - Germany
- Kaltim Prima Coal - Indonesia
- International Coal Ventures Pvt Ltd - India
- Makarim & Taira - Indonesia
- Bulk Trading Sa - Switzerland
- Coastal Gujarat Power Limited - India
- Therma Luzon, Inc, Philippines
- Karaikal Port Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- Bharathi Cement Corporation - India
- Posco Energy - South Korea
- London Commodity Brokers - England
- The State Trading Corporation of India Ltd
- Commonwealth Bank - Australia
- Bangladesh Power Developement Board
- CNBM International Corporation - China
- Thai Mozambique Logistica
- Maheswari Brothers Coal Limited - India
- Marubeni Corporation - India
- Neyveli Lignite Corporation Ltd, - India
- Standard Chartered Bank - UAE
- Ministry of Finance - Indonesia
- Barasentosa Lestari - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Coal and Oil Company - UAE
- Oldendorff Carriers - Singapore
- Karbindo Abesyapradhi - Indoneisa
- Electricity Generating Authority of Thailand
- Edison Trading Spa - Italy
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