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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, 29 March 12
DRY BULK EDGED FURTHER UP, ON HEALTHY DEMAND FOR MOST SHIP TYPES - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
With capesize vessels finally reappearing in demand, the dry bulk market had an easier task of rising yesterday, as the BDI (Baltic Dry Index) reach ...
Thursday, 29 March 12
ADARO FY11 NET INCOME JUMPS 124% - INSIDER STORIES
Insider Stories reported that, PT Adaro Energy Tbk (ADRO) today announced a 124% jump in net income to US$552 million last year or US$0.017 a share. ...
Wednesday, 28 March 12
CUESTA HAS RECEIVED APPLICATIONS AND FIRM BIDS IN EXCESS OF $9 MILLION FOR THE COMPANYS IPO
COALspot.com - The Directors of Cuesta Coal Limited (ASX:CQC) have announced that today it has received applications and firm bids in excess of $9 m ...
Wednesday, 28 March 12
ORPHEUS ENERGY TO COMMENCE JORC DRILLING AT ADK PROJECT
COALspot.com - Indonesian coal explorer and producer, Orpheus Energy (ASX:OEG), have today announced that the company is about to commence a drillin ...
Tuesday, 27 March 12
DRY BULK MARKET KEEP RISING FOLLOWING THE SAME TREND OF LAST WEEK - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market kept its upward momentum this week, on the same reasons of those last week. That is, the smaller ship types are still on the ris ...
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Showing 4786 to 4790 news of total 6871 |
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- Energy Link Ltd, New Zealand
- Indogreen Group - Indonesia
- Global Coal Blending Company Limited - Australia
- Parry Sugars Refinery, India
- Meenaskhi Energy Private Limited - India
- Gujarat Sidhee Cement - India
- McConnell Dowell - Australia
- Central Electricity Authority - India
- Heidelberg Cement - Germany
- GN Power Mariveles Coal Plant, Philippines
- Manunggal Multi Energi - Indonesia
- Cement Manufacturers Association - India
- AsiaOL BioFuels Corp., Philippines
- Trasteel International SA, Italy
- Semirara Mining and Power Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Bangladesh Power Developement Board
- Tamil Nadu electricity Board
- Siam City Cement - Thailand
- Sarangani Energy Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Sakthi Sugars Limited - India
- Goldman Sachs - Singapore
- Ambuja Cements Ltd - India
- Antam Resourcindo - Indonesia
- Bharathi Cement Corporation - India
- Karaikal Port Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Electricity Authority, New Zealand
- Price Waterhouse Coopers - Russia
- Larsen & Toubro Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Bhoruka Overseas - Indonesia
- Kobexindo Tractors - Indoneisa
- Bank of Tokyo Mitsubishi UFJ Ltd
- Videocon Industries ltd - India
- Thai Mozambique Logistica
- Star Paper Mills Limited - India
- Aboitiz Power Corporation - Philippines
- Georgia Ports Authority, United States
- Straits Asia Resources Limited - Singapore
- Marubeni Corporation - India
- Leighton Contractors Pty Ltd - Australia
- Bayan Resources Tbk. - Indonesia
- Chamber of Mines of South Africa
- Planning Commission, India
- London Commodity Brokers - England
- Krishnapatnam Port Company Ltd. - India
- GVK Power & Infra Limited - India
- Indian Energy Exchange, India
- Standard Chartered Bank - UAE
- Mercator Lines Limited - India
- Global Green Power PLC Corporation, Philippines
- Oldendorff Carriers - Singapore
- GAC Shipping (India) Pvt Ltd
- Bulk Trading Sa - Switzerland
- Medco Energi Mining Internasional
- European Bulk Services B.V. - Netherlands
- Globalindo Alam Lestari - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Mintek Dendrill Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- CIMB Investment Bank - Malaysia
- Coal and Oil Company - UAE
- PNOC Exploration Corporation - Philippines
- Sinarmas Energy and Mining - Indonesia
- IEA Clean Coal Centre - UK
- Bhushan Steel Limited - India
- Jindal Steel & Power Ltd - India
- IHS Mccloskey Coal Group - USA
- Posco Energy - South Korea
- Sree Jayajothi Cements Limited - India
- Independent Power Producers Association of India
- Formosa Plastics Group - Taiwan
- ICICI Bank Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Minerals Council of Australia
- Ind-Barath Power Infra Limited - India
- Rio Tinto Coal - Australia
- MS Steel International - UAE
- Semirara Mining Corp, Philippines
- Timah Investasi Mineral - Indoneisa
- Siam City Cement PLC, Thailand
- South Luzon Thermal Energy Corporation
- Romanian Commodities Exchange
- Australian Commodity Traders Exchange
- SMC Global Power, Philippines
- Mercuria Energy - Indonesia
- New Zealand Coal & Carbon
- VISA Power Limited - India
- International Coal Ventures Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Makarim & Taira - Indonesia
- Iligan Light & Power Inc, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Merrill Lynch Commodities Europe
- Africa Commodities Group - South Africa
- Gujarat Electricity Regulatory Commission - India
- CNBM International Corporation - China
- Vedanta Resources Plc - India
- Edison Trading Spa - Italy
- Toyota Tsusho Corporation, Japan
- Economic Council, Georgia
- Wilmar Investment Holdings
- Bhatia International Limited - India
- Thiess Contractors Indonesia
- Mjunction Services Limited - India
- OPG Power Generation Pvt Ltd - India
- Power Finance Corporation Ltd., India
- Petrochimia International Co. Ltd.- Taiwan
- Energy Development Corp, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Directorate Of Revenue Intelligence - India
- Holcim Trading Pte Ltd - Singapore
- Binh Thuan Hamico - Vietnam
- GMR Energy Limited - India
- Ministry of Mines - Canada
- Chettinad Cement Corporation Ltd - India
- Borneo Indobara - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Lanco Infratech Ltd - India
- Parliament of New Zealand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Deloitte Consulting - India
- Simpson Spence & Young - Indonesia
- Coalindo Energy - Indonesia
- Global Business Power Corporation, Philippines
- Savvy Resources Ltd - HongKong
- Port Waratah Coal Services - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Grasim Industreis Ltd - India
- Ministry of Transport, Egypt
- Bukit Makmur.PT - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indonesian Coal Mining Association
- Meralco Power Generation, Philippines
- Tata Chemicals Ltd - India
- Kepco SPC Power Corporation, Philippines
- Sojitz Corporation - Japan
- Interocean Group of Companies - India
- TeaM Sual Corporation - Philippines
- Altura Mining Limited, Indonesia
- Agrawal Coal Company - India
- SMG Consultants - Indonesia
- Metalloyd Limited - United Kingdom
- Samtan Co., Ltd - South Korea
- Kapuas Tunggal Persada - Indonesia
- Vizag Seaport Private Limited - India
- SN Aboitiz Power Inc, Philippines
- The State Trading Corporation of India Ltd
- Ceylon Electricity Board - Sri Lanka
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Anglo American - United Kingdom
- PowerSource Philippines DevCo
- The University of Queensland
- Uttam Galva Steels Limited - India
- Banpu Public Company Limited - Thailand
- ASAPP Information Group - India
- Madhucon Powers Ltd - India
- Salva Resources Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Eastern Energy - Thailand
- Bukit Baiduri Energy - Indonesia
- Renaissance Capital - South Africa
- Sical Logistics Limited - India
- Orica Mining Services - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Pendopo Energi Batubara - Indonesia
- Maheswari Brothers Coal Limited - India
- Eastern Coal Council - USA
- The Treasury - Australian Government
- Kaltim Prima Coal - Indonesia
- Intertek Mineral Services - Indonesia
- PTC India Limited - India
- Commonwealth Bank - Australia
- Indian Oil Corporation Limited
- Alfred C Toepfer International GmbH - Germany
- Dalmia Cement Bharat India
- Attock Cement Pakistan Limited
- Kumho Petrochemical, South Korea
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Aditya Birla Group - India
- Bukit Asam (Persero) Tbk - Indonesia
- Orica Australia Pty. Ltd.
- Wood Mackenzie - Singapore
- Barasentosa Lestari - Indonesia
- Essar Steel Hazira Ltd - India
- Australian Coal Association
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kartika Selabumi Mining - Indonesia
- Malabar Cements Ltd - India
- White Energy Company Limited
- LBH Netherlands Bv - Netherlands
- Electricity Generating Authority of Thailand
- Singapore Mercantile Exchange
- Central Java Power - Indonesia
- Latin American Coal - Colombia
- Vijayanagar Sugar Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- Rashtriya Ispat Nigam Limited - India
- Riau Bara Harum - Indonesia
- Carbofer General Trading SA - India
- Miang Besar Coal Terminal - Indonesia
- Therma Luzon, Inc, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Sindya Power Generating Company Private Ltd
- Indo Tambangraya Megah - Indonesia
- Jaiprakash Power Ventures ltd
- Indika Energy - Indonesia
- Petron Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- Xindia Steels Limited - India
- India Bulls Power Limited - India
- Baramulti Group, Indonesia
- Ministry of Finance - Indonesia
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