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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, 11 April 12
DRY BULK MARKET STILL SUBDUED, RECOVERY NOT YET SEEN - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market entered the new week after the past days of easter holidays in western countries in a subdued mood. The industry’s benchma ...
Monday, 09 April 12
WEEKLY DRY MARKET OVERVIEW - MARIA BERTZELETOU, HELLENIC SHIPPING
The first week of April ended with the Baltic Dry Index falling below 950 points, before Catholic Easter, and capesizes showing a modest upturn with ...
Sunday, 08 April 12
CHARTER RATES COULD CONTINUE TO BE SOFT NEXT WEEK - VISTAAR
COALspot.com - The BDI was almost at same levels closing slightly lower by 0.64 pct at 928 points.
The Cape index was up by 6.73 pct closing at ...
Friday, 06 April 12
INDONESIAN HBA FALL TO LOWEST LEVEL SINCE JANUARY 2011
COALspot.com - Indonesian HBA fall to lowest level since January 2011 this month. The monthly coal reference price for coal sales in April fal ...
Friday, 06 April 12
DRY BULK MARKET SWIFT TO HALT FALL ON RENEWED DEMAND FOR CAPESIZES - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk managed to put a stop to the recent falls, which came as a result of a lacklustre demand for smaller vessel sizes. Although this trend ...
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- TNB Fuel Sdn Bhd - Malaysia
- Energy Development Corp, Philippines
- Australian Coal Association
- White Energy Company Limited
- Medco Energi Mining Internasional
- Malabar Cements Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Energy Link Ltd, New Zealand
- Orica Australia Pty. Ltd.
- Sojitz Corporation - Japan
- Eastern Energy - Thailand
- Edison Trading Spa - Italy
- Bukit Asam (Persero) Tbk - Indonesia
- The Treasury - Australian Government
- IEA Clean Coal Centre - UK
- Kepco SPC Power Corporation, Philippines
- Thai Mozambique Logistica
- Savvy Resources Ltd - HongKong
- Ceylon Electricity Board - Sri Lanka
- Semirara Mining and Power Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Carbofer General Trading SA - India
- Kideco Jaya Agung - Indonesia
- Rio Tinto Coal - Australia
- Asmin Koalindo Tuhup - Indonesia
- Vedanta Resources Plc - India
- Mercator Lines Limited - India
- Kartika Selabumi Mining - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Aboitiz Power Corporation - Philippines
- Global Business Power Corporation, Philippines
- Power Finance Corporation Ltd., India
- Meenaskhi Energy Private Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Makarim & Taira - Indonesia
- Bharathi Cement Corporation - India
- Orica Mining Services - Indonesia
- Bayan Resources Tbk. - Indonesia
- Coalindo Energy - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- SN Aboitiz Power Inc, Philippines
- SMG Consultants - Indonesia
- CIMB Investment Bank - Malaysia
- Central Java Power - Indonesia
- Indogreen Group - Indonesia
- Coastal Gujarat Power Limited - India
- Bhushan Steel Limited - India
- The University of Queensland
- GMR Energy Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Manunggal Multi Energi - Indonesia
- Sindya Power Generating Company Private Ltd
- Uttam Galva Steels Limited - India
- Oldendorff Carriers - Singapore
- Aditya Birla Group - India
- Kobexindo Tractors - Indoneisa
- South Luzon Thermal Energy Corporation
- Electricity Generating Authority of Thailand
- Jorong Barutama Greston.PT - Indonesia
- Dalmia Cement Bharat India
- Goldman Sachs - Singapore
- Leighton Contractors Pty Ltd - Australia
- Bangladesh Power Developement Board
- Tata Chemicals Ltd - India
- Pendopo Energi Batubara - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- McConnell Dowell - Australia
- Gujarat Sidhee Cement - India
- GAC Shipping (India) Pvt Ltd
- LBH Netherlands Bv - Netherlands
- Bank of Tokyo Mitsubishi UFJ Ltd
- Australian Commodity Traders Exchange
- Chamber of Mines of South Africa
- Bukit Makmur.PT - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- PTC India Limited - India
- Posco Energy - South Korea
- Wood Mackenzie - Singapore
- Bulk Trading Sa - Switzerland
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kumho Petrochemical, South Korea
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Madhucon Powers Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Eastern Coal Council - USA
- Essar Steel Hazira Ltd - India
- Jaiprakash Power Ventures ltd
- Bhoruka Overseas - Indonesia
- Ministry of Finance - Indonesia
- CNBM International Corporation - China
- Indika Energy - Indonesia
- Port Waratah Coal Services - Australia
- Neyveli Lignite Corporation Ltd, - India
- Larsen & Toubro Limited - India
- Georgia Ports Authority, United States
- Mercuria Energy - Indonesia
- Sakthi Sugars Limited - India
- London Commodity Brokers - England
- India Bulls Power Limited - India
- Global Coal Blending Company Limited - Australia
- Trasteel International SA, Italy
- Petron Corporation, Philippines
- Indian Energy Exchange, India
- Minerals Council of Australia
- Globalindo Alam Lestari - Indonesia
- Tamil Nadu electricity Board
- TeaM Sual Corporation - Philippines
- Coal and Oil Company - UAE
- Borneo Indobara - Indonesia
- Banpu Public Company Limited - Thailand
- Ambuja Cements Ltd - India
- Siam City Cement - Thailand
- Billiton Holdings Pty Ltd - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- OPG Power Generation Pvt Ltd - India
- Vizag Seaport Private Limited - India
- Central Electricity Authority - India
- Xindia Steels Limited - India
- Kapuas Tunggal Persada - Indonesia
- New Zealand Coal & Carbon
- Miang Besar Coal Terminal - Indonesia
- Electricity Authority, New Zealand
- VISA Power Limited - India
- Binh Thuan Hamico - Vietnam
- Marubeni Corporation - India
- Gujarat Electricity Regulatory Commission - India
- Holcim Trading Pte Ltd - Singapore
- Cigading International Bulk Terminal - Indonesia
- Grasim Industreis Ltd - India
- Standard Chartered Bank - UAE
- ICICI Bank Limited - India
- Planning Commission, India
- Timah Investasi Mineral - Indoneisa
- Parliament of New Zealand
- Lanco Infratech Ltd - India
- Kaltim Prima Coal - Indonesia
- The State Trading Corporation of India Ltd
- Krishnapatnam Port Company Ltd. - India
- Petrochimia International Co. Ltd.- Taiwan
- Salva Resources Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- Latin American Coal - Colombia
- GVK Power & Infra Limited - India
- MS Steel International - UAE
- Africa Commodities Group - South Africa
- PowerSource Philippines DevCo
- International Coal Ventures Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- European Bulk Services B.V. - Netherlands
- Thiess Contractors Indonesia
- Agrawal Coal Company - India
- Sree Jayajothi Cements Limited - India
- Antam Resourcindo - Indonesia
- Heidelberg Cement - Germany
- Semirara Mining Corp, Philippines
- Indonesian Coal Mining Association
- Anglo American - United Kingdom
- Mintek Dendrill Indonesia
- Global Green Power PLC Corporation, Philippines
- Metalloyd Limited - United Kingdom
- Renaissance Capital - South Africa
- PNOC Exploration Corporation - Philippines
- Sinarmas Energy and Mining - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Siam City Cement PLC, Thailand
- Videocon Industries ltd - India
- Indo Tambangraya Megah - Indonesia
- Ministry of Mines - Canada
- IHS Mccloskey Coal Group - USA
- Commonwealth Bank - Australia
- Independent Power Producers Association of India
- SMC Global Power, Philippines
- Therma Luzon, Inc, Philippines
- Iligan Light & Power Inc, Philippines
- Straits Asia Resources Limited - Singapore
- Toyota Tsusho Corporation, Japan
- AsiaOL BioFuels Corp., Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Riau Bara Harum - Indonesia
- Meralco Power Generation, Philippines
- San Jose City I Power Corp, Philippines
- Ministry of Transport, Egypt
- Directorate Of Revenue Intelligence - India
- Kalimantan Lumbung Energi - Indonesia
- Karaikal Port Pvt Ltd - India
- Romanian Commodities Exchange
- Cement Manufacturers Association - India
- Maheswari Brothers Coal Limited - India
- Bukit Baiduri Energy - Indonesia
- Samtan Co., Ltd - South Korea
- Bahari Cakrawala Sebuku - Indonesia
- Sical Logistics Limited - India
- Attock Cement Pakistan Limited
- Rashtriya Ispat Nigam Limited - India
- Singapore Mercantile Exchange
- Price Waterhouse Coopers - Russia
- Star Paper Mills Limited - India
- Jindal Steel & Power Ltd - India
- Deloitte Consulting - India
- ASAPP Information Group - India
- Economic Council, Georgia
- Barasentosa Lestari - Indonesia
- Chettinad Cement Corporation Ltd - India
- Mjunction Services Limited - India
- Baramulti Group, Indonesia
- Sarangani Energy Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- Wilmar Investment Holdings
- Kohat Cement Company Ltd. - Pakistan
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bhatia International Limited - India
- Interocean Group of Companies - India
- Altura Mining Limited, Indonesia
- Parry Sugars Refinery, India
- Merrill Lynch Commodities Europe
- Simpson Spence & Young - Indonesia
- Indian Oil Corporation Limited
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