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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, 05 April 12
COAL EXPORT TAX: MATTER OF CONCERN FOR INDIA - SUNIL K KUMBHAT
COALspot.com - Since the issuance of Indonesian Mining law in 2009, miners have increased their activities in exploring , ex ...
Thursday, 05 April 12
AKR COAL FIRST EXPORT SHIPMENT OF COAL SEABORNE
PT Anugrah Karya Raya (AKR Coal) subsidiary of PT AKR Corporindo Tbk., Indonesia’s leading integrated supply chain solutions provider and larg ...
Thursday, 05 April 12
DRY BULK MARKET STALLS AS TREND IS REVERSED - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has halted its month-long rally, with the BDI (Baltic Dry Index) retreating yesterday for a second consecutive session. Industry ...
Wednesday, 04 April 12
OIL MAY JUMP TO $150PB IF IRAN ATTACKED: EXPERT - KUNA / HELLENIC SHIPPING
Prices of oil will not drop below level of $100 per barrel and may jump to $150 pb in the coming two months, according to the prominent Kuwaiti expe ...
Wednesday, 04 April 12
CHURCHILL MINING TO ACCELERATE INTERNATIONAL ARBITRATION AGAINST INDONESIA
Churchill Mining plc (AIM: CHL), advises that notations on the Indonesian Supreme Court's register of cases shows the Supreme Court has rejected th ...
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- Australian Commodity Traders Exchange
- Medco Energi Mining Internasional
- Straits Asia Resources Limited - Singapore
- McConnell Dowell - Australia
- Miang Besar Coal Terminal - Indonesia
- Makarim & Taira - Indonesia
- Semirara Mining Corp, Philippines
- SMG Consultants - Indonesia
- Kideco Jaya Agung - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Grasim Industreis Ltd - India
- Latin American Coal - Colombia
- PetroVietnam Power Coal Import and Supply Company
- Pendopo Energi Batubara - Indonesia
- Tamil Nadu electricity Board
- Central Java Power - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Timah Investasi Mineral - Indoneisa
- Interocean Group of Companies - India
- Ministry of Transport, Egypt
- Holcim Trading Pte Ltd - Singapore
- Vedanta Resources Plc - India
- Altura Mining Limited, Indonesia
- ICICI Bank Limited - India
- Barasentosa Lestari - Indonesia
- Malabar Cements Ltd - India
- Cement Manufacturers Association - India
- Bukit Asam (Persero) Tbk - Indonesia
- Salva Resources Pvt Ltd - India
- Dalmia Cement Bharat India
- Rashtriya Ispat Nigam Limited - India
- Aboitiz Power Corporation - Philippines
- Meenaskhi Energy Private Limited - India
- Wilmar Investment Holdings
- Bangladesh Power Developement Board
- Independent Power Producers Association of India
- Ministry of Finance - Indonesia
- ASAPP Information Group - India
- Ministry of Mines - Canada
- Central Electricity Authority - India
- Sojitz Corporation - Japan
- Aditya Birla Group - India
- New Zealand Coal & Carbon
- Rio Tinto Coal - Australia
- Karbindo Abesyapradhi - Indoneisa
- Sakthi Sugars Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Commonwealth Bank - Australia
- Chamber of Mines of South Africa
- Indonesian Coal Mining Association
- VISA Power Limited - India
- TeaM Sual Corporation - Philippines
- Baramulti Group, Indonesia
- Electricity Authority, New Zealand
- Riau Bara Harum - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Indogreen Group - Indonesia
- Antam Resourcindo - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Electricity Generating Authority of Thailand
- Simpson Spence & Young - Indonesia
- Port Waratah Coal Services - Australia
- Coalindo Energy - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Economic Council, Georgia
- Krishnapatnam Port Company Ltd. - India
- Parliament of New Zealand
- Bukit Makmur.PT - Indonesia
- Kaltim Prima Coal - Indonesia
- Uttam Galva Steels Limited - India
- CIMB Investment Bank - Malaysia
- PowerSource Philippines DevCo
- Asmin Koalindo Tuhup - Indonesia
- Romanian Commodities Exchange
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Xindia Steels Limited - India
- Larsen & Toubro Limited - India
- Sarangani Energy Corporation, Philippines
- Borneo Indobara - Indonesia
- Bulk Trading Sa - Switzerland
- Parry Sugars Refinery, India
- Petron Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- Mercator Lines Limited - India
- Bharathi Cement Corporation - India
- Sindya Power Generating Company Private Ltd
- Mjunction Services Limited - India
- Lanco Infratech Ltd - India
- Attock Cement Pakistan Limited
- IEA Clean Coal Centre - UK
- IHS Mccloskey Coal Group - USA
- Gujarat Sidhee Cement - India
- GVK Power & Infra Limited - India
- Siam City Cement - Thailand
- Posco Energy - South Korea
- Binh Thuan Hamico - Vietnam
- Thai Mozambique Logistica
- Pipit Mutiara Jaya. PT, Indonesia
- CNBM International Corporation - China
- Goldman Sachs - Singapore
- Kalimantan Lumbung Energi - Indonesia
- Kartika Selabumi Mining - Indonesia
- SMC Global Power, Philippines
- Eastern Energy - Thailand
- MS Steel International - UAE
- Offshore Bulk Terminal Pte Ltd, Singapore
- Global Business Power Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- OPG Power Generation Pvt Ltd - India
- Agrawal Coal Company - India
- Kepco SPC Power Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- Samtan Co., Ltd - South Korea
- The University of Queensland
- GMR Energy Limited - India
- Videocon Industries ltd - India
- Sical Logistics Limited - India
- Indika Energy - Indonesia
- Sree Jayajothi Cements Limited - India
- PNOC Exploration Corporation - Philippines
- Heidelberg Cement - Germany
- Ambuja Cements Ltd - India
- Merrill Lynch Commodities Europe
- The Treasury - Australian Government
- TNB Fuel Sdn Bhd - Malaysia
- Bhatia International Limited - India
- Oldendorff Carriers - Singapore
- LBH Netherlands Bv - Netherlands
- Jorong Barutama Greston.PT - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Intertek Mineral Services - Indonesia
- Indo Tambangraya Megah - Indonesia
- Georgia Ports Authority, United States
- Directorate Of Revenue Intelligence - India
- Africa Commodities Group - South Africa
- Thiess Contractors Indonesia
- Maheswari Brothers Coal Limited - India
- India Bulls Power Limited - India
- Orica Australia Pty. Ltd.
- Toyota Tsusho Corporation, Japan
- Kobexindo Tractors - Indoneisa
- Vizag Seaport Private Limited - India
- The State Trading Corporation of India Ltd
- London Commodity Brokers - England
- Chettinad Cement Corporation Ltd - India
- Manunggal Multi Energi - Indonesia
- Planning Commission, India
- Jaiprakash Power Ventures ltd
- Sinarmas Energy and Mining - Indonesia
- Mintek Dendrill Indonesia
- Wood Mackenzie - Singapore
- Star Paper Mills Limited - India
- PTC India Limited - India
- Globalindo Alam Lestari - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Renaissance Capital - South Africa
- Bhoruka Overseas - Indonesia
- Coal and Oil Company - UAE
- European Bulk Services B.V. - Netherlands
- Energy Link Ltd, New Zealand
- Indian Energy Exchange, India
- Deloitte Consulting - India
- White Energy Company Limited
- Marubeni Corporation - India
- Kumho Petrochemical, South Korea
- Anglo American - United Kingdom
- Siam City Cement PLC, Thailand
- Indian Oil Corporation Limited
- Bahari Cakrawala Sebuku - Indonesia
- Australian Coal Association
- South Luzon Thermal Energy Corporation
- Petrochimia International Co. Ltd.- Taiwan
- International Coal Ventures Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- Essar Steel Hazira Ltd - India
- Eastern Coal Council - USA
- Therma Luzon, Inc, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Orica Mining Services - Indonesia
- Singapore Mercantile Exchange
- Standard Chartered Bank - UAE
- SN Aboitiz Power Inc, Philippines
- Iligan Light & Power Inc, Philippines
- San Jose City I Power Corp, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Meralco Power Generation, Philippines
- Karaikal Port Pvt Ltd - India
- Bhushan Steel Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Savvy Resources Ltd - HongKong
- Bank of Tokyo Mitsubishi UFJ Ltd
- Metalloyd Limited - United Kingdom
- Leighton Contractors Pty Ltd - Australia
- Banpu Public Company Limited - Thailand
- Directorate General of MIneral and Coal - Indonesia
- Minerals Council of Australia
- Edison Trading Spa - Italy
- Global Coal Blending Company Limited - Australia
- Gujarat Mineral Development Corp Ltd - India
- Price Waterhouse Coopers - Russia
- Kohat Cement Company Ltd. - Pakistan
- Energy Development Corp, Philippines
- Tata Chemicals Ltd - India
- Mercuria Energy - Indonesia
- Formosa Plastics Group - Taiwan
- Bukit Baiduri Energy - Indonesia
- Jindal Steel & Power Ltd - India
- Bayan Resources Tbk. - Indonesia
- Carbofer General Trading SA - India
- Ind-Barath Power Infra Limited - India
- Power Finance Corporation Ltd., India
- AsiaOL BioFuels Corp., Philippines
- Madhucon Powers Ltd - India
- Trasteel International SA, Italy
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