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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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Sunday, 15 April 12
THE SPOT FIXTURE RATES FOR SUPRAMAX IN SE ASIA SAW SOME SOFTENING OF CHARTER RATES - VISTAAR
COALspot.com - The market seem to be holding and except for Supramax and handy size index all other index was up with BDI up by 4.74 pct closing at ...
Friday, 13 April 12
MINERS OPPOSE GOVTS EXPORT TAX PLAN - THE JAKARTA POST
The Jakarta Post reported that, Indonesian mining companies have strongly protested the government’s plan to impose a 25 percent export tax on ...
Friday, 13 April 12
S&P CAUTIONS AGAINST NEW INDONESIAN MINING REGULATIONS - THE JAKARTA GLOBE
The Jakarta Globe reported that, Investors may have expressed concerns about looming new mining regulations, but ratings agency Standard & Poor& ...
Thursday, 12 April 12
FIRST QUARTER OF 2012 SAW AN ADDITIONAL 24.2 MILLION DWT OF DRY BULK CARRIERS ENTERING THE FLEET - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The inflow of newbuilt dry bulk vessels was larger than expected in the first quarter of 2012. As much as 24.2 million DWT were added to the fleet. ...
Wednesday, 11 April 12
TWO PERCENT OF IBP CONCESSION CONTAINS 42 MMT OF COAL
COALspot.com - 42.35 million ton of coal found in just 2% of PT Insani Bara Perkasa’s total concession area of 24,477 hectare.
Accord ...
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- Africa Commodities Group - South Africa
- Samtan Co., Ltd - South Korea
- Bukit Makmur.PT - Indonesia
- Directorate Of Revenue Intelligence - India
- Kepco SPC Power Corporation, Philippines
- Simpson Spence & Young - Indonesia
- Agrawal Coal Company - India
- Sindya Power Generating Company Private Ltd
- Global Business Power Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Vedanta Resources Plc - India
- Bhatia International Limited - India
- Anglo American - United Kingdom
- Petrochimia International Co. Ltd.- Taiwan
- Altura Mining Limited, Indonesia
- Indika Energy - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Ambuja Cements Ltd - India
- Meenaskhi Energy Private Limited - India
- GVK Power & Infra Limited - India
- Karaikal Port Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- Indonesian Coal Mining Association
- Miang Besar Coal Terminal - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Iligan Light & Power Inc, Philippines
- IEA Clean Coal Centre - UK
- Global Green Power PLC Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Goldman Sachs - Singapore
- Semirara Mining and Power Corporation, Philippines
- Heidelberg Cement - Germany
- Mercator Lines Limited - India
- Standard Chartered Bank - UAE
- Intertek Mineral Services - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Siam City Cement - Thailand
- South Luzon Thermal Energy Corporation
- Directorate General of MIneral and Coal - Indonesia
- Trasteel International SA, Italy
- Timah Investasi Mineral - Indoneisa
- Larsen & Toubro Limited - India
- VISA Power Limited - India
- Cigading International Bulk Terminal - Indonesia
- The University of Queensland
- SMG Consultants - Indonesia
- MS Steel International - UAE
- Marubeni Corporation - India
- Jorong Barutama Greston.PT - Indonesia
- Merrill Lynch Commodities Europe
- Attock Cement Pakistan Limited
- ASAPP Information Group - India
- Ministry of Mines - Canada
- International Coal Ventures Pvt Ltd - India
- Edison Trading Spa - Italy
- Chamber of Mines of South Africa
- Manunggal Multi Energi - Indonesia
- Energy Link Ltd, New Zealand
- Deloitte Consulting - India
- Sinarmas Energy and Mining - Indonesia
- Australian Coal Association
- Meralco Power Generation, Philippines
- Indogreen Group - Indonesia
- Binh Thuan Hamico - Vietnam
- Parliament of New Zealand
- Sical Logistics Limited - India
- Vizag Seaport Private Limited - India
- Tata Chemicals Ltd - India
- PNOC Exploration Corporation - Philippines
- Australian Commodity Traders Exchange
- Central Java Power - Indonesia
- Mercuria Energy - Indonesia
- White Energy Company Limited
- Borneo Indobara - Indonesia
- Metalloyd Limited - United Kingdom
- IHS Mccloskey Coal Group - USA
- Gujarat Sidhee Cement - India
- Aditya Birla Group - India
- Renaissance Capital - South Africa
- Jindal Steel & Power Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Bulk Trading Sa - Switzerland
- Jaiprakash Power Ventures ltd
- London Commodity Brokers - England
- Savvy Resources Ltd - HongKong
- Therma Luzon, Inc, Philippines
- Grasim Industreis Ltd - India
- Mjunction Services Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Sarangani Energy Corporation, Philippines
- PowerSource Philippines DevCo
- Eastern Energy - Thailand
- Parry Sugars Refinery, India
- Thai Mozambique Logistica
- Antam Resourcindo - Indonesia
- Aboitiz Power Corporation - Philippines
- Cement Manufacturers Association - India
- Kobexindo Tractors - Indoneisa
- Ministry of Finance - Indonesia
- Kaltim Prima Coal - Indonesia
- Latin American Coal - Colombia
- SMC Global Power, Philippines
- Indian Oil Corporation Limited
- Uttam Galva Steels Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Thiess Contractors Indonesia
- Interocean Group of Companies - India
- Leighton Contractors Pty Ltd - Australia
- Toyota Tsusho Corporation, Japan
- Bangladesh Power Developement Board
- Salva Resources Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Energy Development Corp, Philippines
- Indian Energy Exchange, India
- Globalindo Alam Lestari - Indonesia
- India Bulls Power Limited - India
- Banpu Public Company Limited - Thailand
- PTC India Limited - India
- AsiaOL BioFuels Corp., Philippines
- Central Electricity Authority - India
- Indo Tambangraya Megah - Indonesia
- Price Waterhouse Coopers - Russia
- Ministry of Transport, Egypt
- Orica Mining Services - Indonesia
- Sakthi Sugars Limited - India
- Siam City Cement PLC, Thailand
- Kohat Cement Company Ltd. - Pakistan
- Coalindo Energy - Indonesia
- Kartika Selabumi Mining - Indonesia
- GAC Shipping (India) Pvt Ltd
- Eastern Coal Council - USA
- Essar Steel Hazira Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- McConnell Dowell - Australia
- Asmin Koalindo Tuhup - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Gujarat Electricity Regulatory Commission - India
- Coastal Gujarat Power Limited - India
- Oldendorff Carriers - Singapore
- Lanco Infratech Ltd - India
- CNBM International Corporation - China
- Krishnapatnam Port Company Ltd. - India
- Independent Power Producers Association of India
- ICICI Bank Limited - India
- CIMB Investment Bank - Malaysia
- Power Finance Corporation Ltd., India
- European Bulk Services B.V. - Netherlands
- The Treasury - Australian Government
- Petron Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- TeaM Sual Corporation - Philippines
- Port Waratah Coal Services - Australia
- Commonwealth Bank - Australia
- The State Trading Corporation of India Ltd
- Ind-Barath Power Infra Limited - India
- Bayan Resources Tbk. - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Dalmia Cement Bharat India
- Posco Energy - South Korea
- Bank of Tokyo Mitsubishi UFJ Ltd
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kumho Petrochemical, South Korea
- Economic Council, Georgia
- OPG Power Generation Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Tamil Nadu electricity Board
- Bukit Asam (Persero) Tbk - Indonesia
- Semirara Mining Corp, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Medco Energi Mining Internasional
- Baramulti Group, Indonesia
- Wilmar Investment Holdings
- San Jose City I Power Corp, Philippines
- Riau Bara Harum - Indonesia
- Maheswari Brothers Coal Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bharathi Cement Corporation - India
- Mintek Dendrill Indonesia
- Malabar Cements Ltd - India
- Bhoruka Overseas - Indonesia
- Romanian Commodities Exchange
- Star Paper Mills Limited - India
- Georgia Ports Authority, United States
- Makarim & Taira - Indonesia
- Barasentosa Lestari - Indonesia
- GMR Energy Limited - India
- Madhucon Powers Ltd - India
- Videocon Industries ltd - India
- Electricity Authority, New Zealand
- Kapuas Tunggal Persada - Indonesia
- New Zealand Coal & Carbon
- Pipit Mutiara Jaya. PT, Indonesia
- SN Aboitiz Power Inc, Philippines
- Xindia Steels Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bahari Cakrawala Sebuku - Indonesia
- Orica Australia Pty. Ltd.
- Electricity Generating Authority of Thailand
- Rashtriya Ispat Nigam Limited - India
- Formosa Plastics Group - Taiwan
- Bukit Baiduri Energy - Indonesia
- Rio Tinto Coal - Australia
- GN Power Mariveles Coal Plant, Philippines
- Bhushan Steel Limited - India
- Planning Commission, India
- Pendopo Energi Batubara - Indonesia
- Coal and Oil Company - UAE
- Sojitz Corporation - Japan
- Kideco Jaya Agung - Indonesia
- Global Coal Blending Company Limited - Australia
- Wood Mackenzie - Singapore
- Ceylon Electricity Board - Sri Lanka
- Carbofer General Trading SA - India
- LBH Netherlands Bv - Netherlands
- Singapore Mercantile Exchange
- Minerals Council of Australia
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