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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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Monday, 02 April 12
BANGLADESH EYEING INDONESIA FOR COAL
COALspot.com - The high level executives of Center for Environmental and Geographic Information Services (CEGIS) of Bangladesh is visiting Ind ...
Monday, 02 April 12
WEEKLY DRY MARKET OVERVIEW - MARIA BERTZELETOU, HELLENIC SHIPPING
The first quarter of the New Year ended with the BDI standing 42% above from the 26 years’ bottom low of 662 points on February 1st, and a pos ...
Saturday, 31 March 12
THE BDI CONTINUED TO MOVE UPWARD - VISTAAR
COALspot.com - The BDI continued to move upward and rose by 2.86 pct closing at 934 points.
The cape index was up by 3.14 pct closing at 1,412 po ...
Saturday, 31 March 12
SRI LANKA IMPORTS 152,555 MT OF INDONESIAN COAL IN FEBRUARY
COALspot.com: Indonesia, the world largest coal exporter, shipped 27.126* million tons of coal in February 2012, compared to 28.21* million to ...
Friday, 30 March 12
RECOND NUMBERS SURROUNDING THE SUPRAMAX DRY BULK MARKET - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Last year proved to be both a record year in the number of deliveries of dry bulkers between 40,000dwt and 64,000dwt, as well as a record year in th ...
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- ASAPP Information Group - India
- Star Paper Mills Limited - India
- Intertek Mineral Services - Indonesia
- Therma Luzon, Inc, Philippines
- Ambuja Cements Ltd - India
- Indian Energy Exchange, India
- McConnell Dowell - Australia
- Agrawal Coal Company - India
- Gujarat Mineral Development Corp Ltd - India
- Bangladesh Power Developement Board
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Aboitiz Power Corporation - Philippines
- Riau Bara Harum - Indonesia
- Marubeni Corporation - India
- Global Business Power Corporation, Philippines
- Tamil Nadu electricity Board
- Carbofer General Trading SA - India
- Ministry of Transport, Egypt
- Mjunction Services Limited - India
- Alfred C Toepfer International GmbH - Germany
- Kalimantan Lumbung Energi - Indonesia
- The State Trading Corporation of India Ltd
- IEA Clean Coal Centre - UK
- Pipit Mutiara Jaya. PT, Indonesia
- Ministry of Mines - Canada
- Manunggal Multi Energi - Indonesia
- Sarangani Energy Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- Grasim Industreis Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Sojitz Corporation - Japan
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Xindia Steels Limited - India
- Energy Link Ltd, New Zealand
- Renaissance Capital - South Africa
- Petron Corporation, Philippines
- Baramulti Group, Indonesia
- Parry Sugars Refinery, India
- Cement Manufacturers Association - India
- GAC Shipping (India) Pvt Ltd
- Coal and Oil Company - UAE
- Bharathi Cement Corporation - India
- Neyveli Lignite Corporation Ltd, - India
- Pendopo Energi Batubara - Indonesia
- Sindya Power Generating Company Private Ltd
- Larsen & Toubro Limited - India
- Kapuas Tunggal Persada - Indonesia
- Posco Energy - South Korea
- Metalloyd Limited - United Kingdom
- Global Coal Blending Company Limited - Australia
- Bhushan Steel Limited - India
- Bukit Baiduri Energy - Indonesia
- Bukit Makmur.PT - Indonesia
- Heidelberg Cement - Germany
- Straits Asia Resources Limited - Singapore
- Energy Development Corp, Philippines
- Indogreen Group - Indonesia
- San Jose City I Power Corp, Philippines
- SMC Global Power, Philippines
- Attock Cement Pakistan Limited
- OPG Power Generation Pvt Ltd - India
- CNBM International Corporation - China
- Karaikal Port Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- Bayan Resources Tbk. - Indonesia
- Mercuria Energy - Indonesia
- Altura Mining Limited, Indonesia
- Orica Australia Pty. Ltd.
- Independent Power Producers Association of India
- Standard Chartered Bank - UAE
- Banpu Public Company Limited - Thailand
- CIMB Investment Bank - Malaysia
- Dalmia Cement Bharat India
- Aditya Birla Group - India
- Coastal Gujarat Power Limited - India
- Miang Besar Coal Terminal - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Timah Investasi Mineral - Indoneisa
- Thiess Contractors Indonesia
- Leighton Contractors Pty Ltd - Australia
- London Commodity Brokers - England
- Uttam Galva Steels Limited - India
- Sinarmas Energy and Mining - Indonesia
- Malabar Cements Ltd - India
- Sree Jayajothi Cements Limited - India
- Thai Mozambique Logistica
- GMR Energy Limited - India
- Africa Commodities Group - South Africa
- Minerals Council of Australia
- Maheswari Brothers Coal Limited - India
- India Bulls Power Limited - India
- Medco Energi Mining Internasional
- Orica Mining Services - Indonesia
- VISA Power Limited - India
- Tata Chemicals Ltd - India
- Videocon Industries ltd - India
- Barasentosa Lestari - Indonesia
- Savvy Resources Ltd - HongKong
- Bukit Asam (Persero) Tbk - Indonesia
- Salva Resources Pvt Ltd - India
- Meralco Power Generation, Philippines
- Iligan Light & Power Inc, Philippines
- Deloitte Consulting - India
- Essar Steel Hazira Ltd - India
- Indo Tambangraya Megah - Indonesia
- SMG Consultants - Indonesia
- Planning Commission, India
- European Bulk Services B.V. - Netherlands
- Bank of Tokyo Mitsubishi UFJ Ltd
- Global Green Power PLC Corporation, Philippines
- Power Finance Corporation Ltd., India
- Indika Energy - Indonesia
- Globalindo Alam Lestari - Indonesia
- ICICI Bank Limited - India
- Port Waratah Coal Services - Australia
- Meenaskhi Energy Private Limited - India
- Eastern Energy - Thailand
- Kepco SPC Power Corporation, Philippines
- Siam City Cement PLC, Thailand
- Petrochimia International Co. Ltd.- Taiwan
- Indian Oil Corporation Limited
- Chamber of Mines of South Africa
- Latin American Coal - Colombia
- Mintek Dendrill Indonesia
- Jindal Steel & Power Ltd - India
- Singapore Mercantile Exchange
- Antam Resourcindo - Indonesia
- Trasteel International SA, Italy
- Rashtriya Ispat Nigam Limited - India
- Kartika Selabumi Mining - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Kumho Petrochemical, South Korea
- SN Aboitiz Power Inc, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- TNB Fuel Sdn Bhd - Malaysia
- PNOC Exploration Corporation - Philippines
- Samtan Co., Ltd - South Korea
- Eastern Coal Council - USA
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Merrill Lynch Commodities Europe
- Electricity Authority, New Zealand
- Wood Mackenzie - Singapore
- South Luzon Thermal Energy Corporation
- Price Waterhouse Coopers - Russia
- AsiaOL BioFuels Corp., Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Australian Commodity Traders Exchange
- Ministry of Finance - Indonesia
- Kideco Jaya Agung - Indonesia
- Edison Trading Spa - Italy
- Jorong Barutama Greston.PT - Indonesia
- Georgia Ports Authority, United States
- Romanian Commodities Exchange
- Electricity Generating Authority of Thailand
- Borneo Indobara - Indonesia
- Sical Logistics Limited - India
- Madhucon Powers Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Simpson Spence & Young - Indonesia
- Lanco Infratech Ltd - India
- White Energy Company Limited
- TeaM Sual Corporation - Philippines
- Maharashtra Electricity Regulatory Commission - India
- Bulk Trading Sa - Switzerland
- Indonesian Coal Mining Association
- PTC India Limited - India
- Jaiprakash Power Ventures ltd
- LBH Netherlands Bv - Netherlands
- IHS Mccloskey Coal Group - USA
- Gujarat Sidhee Cement - India
- Sakthi Sugars Limited - India
- Semirara Mining Corp, Philippines
- Economic Council, Georgia
- Vizag Seaport Private Limited - India
- Interocean Group of Companies - India
- Formosa Plastics Group - Taiwan
- Directorate Of Revenue Intelligence - India
- Holcim Trading Pte Ltd - Singapore
- The Treasury - Australian Government
- Asmin Koalindo Tuhup - Indonesia
- Coalindo Energy - Indonesia
- MS Steel International - UAE
- Rio Tinto Coal - Australia
- PetroVietnam Power Coal Import and Supply Company
- Kobexindo Tractors - Indoneisa
- Wilmar Investment Holdings
- Central Electricity Authority - India
- Krishnapatnam Port Company Ltd. - India
- Goldman Sachs - Singapore
- GVK Power & Infra Limited - India
- Australian Coal Association
- Semirara Mining and Power Corporation, Philippines
- Mercator Lines Limited - India
- Vedanta Resources Plc - India
- Toyota Tsusho Corporation, Japan
- Kaltim Prima Coal - Indonesia
- PowerSource Philippines DevCo
- Bhatia International Limited - India
- Makarim & Taira - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- International Coal Ventures Pvt Ltd - India
- Siam City Cement - Thailand
- Billiton Holdings Pty Ltd - Australia
- Ind-Barath Power Infra Limited - India
- New Zealand Coal & Carbon
- Anglo American - United Kingdom
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ceylon Electricity Board - Sri Lanka
- The University of Queensland
- Oldendorff Carriers - Singapore
- Bhoruka Overseas - Indonesia
- Central Java Power - Indonesia
- Parliament of New Zealand
- Commonwealth Bank - Australia
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