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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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Tuesday, 07 August 12
2ND ANNUAL FLOATING TERMINALS
Press Release - After a ground breaking and successful launch in 2011, the 2nd Annual Floating Terminals conferenceis back to address innovation, co ...
Tuesday, 07 August 12
KRISHNAPATNAM PORT HAS DISCHARGED 122,247 MTS OF COAL IN JUST 24 HRS
COALspot.com - Keeping with the tradition of the new records that are set at the Olympic Games 2012, Krishnapatnam Port has also achieved in setting ...
Tuesday, 07 August 12
BARAMULTI SET TO LIST ON BOURSE IN Q4 - JP
The Jakarta Post reported that, coal miner PT Baramulti Sukses Sarana is preparing to make its shares available to the public in the fourth quarter ...
Tuesday, 07 August 12
REALM RESOURCES COMPLETES STUDY ON ITS KATINGAN RIA COAL PROJECT
COALspot.com - Realm Resources Ltd. has announced that it has completed the Project Study for the Katingan Ria Project in Central Kalimantan, Indone ...
Monday, 06 August 12
3RD ANNUAL INDONESIA POWER
Press Release - 3rd Annual Indonesia Power is Indonesia’s premier power event, where commercial opportunities and new projects are identified. ...
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Showing 4626 to 4630 news of total 6871 |
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- Heidelberg Cement - Germany
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- IHS Mccloskey Coal Group - USA
- Indian Oil Corporation Limited
- Wood Mackenzie - Singapore
- Rashtriya Ispat Nigam Limited - India
- Meralco Power Generation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Banpu Public Company Limited - Thailand
- Global Coal Blending Company Limited - Australia
- Antam Resourcindo - Indonesia
- LBH Netherlands Bv - Netherlands
- Indogreen Group - Indonesia
- Ind-Barath Power Infra Limited - India
- TeaM Sual Corporation - Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Gujarat Mineral Development Corp Ltd - India
- VISA Power Limited - India
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- Bhatia International Limited - India
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- Australian Commodity Traders Exchange
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- Uttam Galva Steels Limited - India
- Globalindo Alam Lestari - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
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- Holcim Trading Pte Ltd - Singapore
- Goldman Sachs - Singapore
- Orica Mining Services - Indonesia
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- Australian Coal Association
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- Iligan Light & Power Inc, Philippines
- London Commodity Brokers - England
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- Orica Australia Pty. Ltd.
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- Eastern Energy - Thailand
- AsiaOL BioFuels Corp., Philippines
- The Treasury - Australian Government
- Pipit Mutiara Jaya. PT, Indonesia
- Deloitte Consulting - India
- Intertek Mineral Services - Indonesia
- Chamber of Mines of South Africa
- Cigading International Bulk Terminal - Indonesia
- Manunggal Multi Energi - Indonesia
- Georgia Ports Authority, United States
- Tamil Nadu electricity Board
- Global Green Power PLC Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- Electricity Generating Authority of Thailand
- Siam City Cement PLC, Thailand
- Commonwealth Bank - Australia
- Ministry of Finance - Indonesia
- Salva Resources Pvt Ltd - India
- ICICI Bank Limited - India
- Ministry of Transport, Egypt
- Planning Commission, India
- Jaiprakash Power Ventures ltd
- Petron Corporation, Philippines
- Parry Sugars Refinery, India
- Lanco Infratech Ltd - India
- European Bulk Services B.V. - Netherlands
- Riau Bara Harum - Indonesia
- Larsen & Toubro Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Sree Jayajothi Cements Limited - India
- Indo Tambangraya Megah - Indonesia
- IEA Clean Coal Centre - UK
- Coalindo Energy - Indonesia
- Toyota Tsusho Corporation, Japan
- Ambuja Cements Ltd - India
- MS Steel International - UAE
- Marubeni Corporation - India
- Binh Thuan Hamico - Vietnam
- White Energy Company Limited
- Formosa Plastics Group - Taiwan
- Vedanta Resources Plc - India
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- Bhoruka Overseas - Indonesia
- Thai Mozambique Logistica
- Directorate Of Revenue Intelligence - India
- Bhushan Steel Limited - India
- Essar Steel Hazira Ltd - India
- Ministry of Mines - Canada
- Mercuria Energy - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Baramulti Group, Indonesia
- Barasentosa Lestari - Indonesia
- Kepco SPC Power Corporation, Philippines
- PTC India Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Pendopo Energi Batubara - Indonesia
- Independent Power Producers Association of India
- Sindya Power Generating Company Private Ltd
- Minerals Council of Australia
- Makarim & Taira - Indonesia
- Sakthi Sugars Limited - India
- Star Paper Mills Limited - India
- Africa Commodities Group - South Africa
- Kideco Jaya Agung - Indonesia
- Indika Energy - Indonesia
- Eastern Coal Council - USA
- GMR Energy Limited - India
- CNBM International Corporation - China
- Mercator Lines Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Central Java Power - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- GVK Power & Infra Limited - India
- Aditya Birla Group - India
- Cement Manufacturers Association - India
- Tata Chemicals Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Oldendorff Carriers - Singapore
- Directorate General of MIneral and Coal - Indonesia
- Electricity Authority, New Zealand
- Sarangani Energy Corporation, Philippines
- Energy Development Corp, Philippines
- SN Aboitiz Power Inc, Philippines
- Kobexindo Tractors - Indoneisa
- GN Power Mariveles Coal Plant, Philippines
- Indian Energy Exchange, India
- Interocean Group of Companies - India
- Krishnapatnam Port Company Ltd. - India
- Maharashtra Electricity Regulatory Commission - India
- Central Electricity Authority - India
- McConnell Dowell - Australia
- Timah Investasi Mineral - Indoneisa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Latin American Coal - Colombia
- Wilmar Investment Holdings
- Vizag Seaport Private Limited - India
- GAC Shipping (India) Pvt Ltd
- The University of Queensland
- Attock Cement Pakistan Limited
- Sinarmas Energy and Mining - Indonesia
- Coal and Oil Company - UAE
- Jorong Barutama Greston.PT - Indonesia
- Power Finance Corporation Ltd., India
- Bahari Cakrawala Sebuku - Indonesia
- Bukit Makmur.PT - Indonesia
- Singapore Mercantile Exchange
- Bayan Resources Tbk. - Indonesia
- Romanian Commodities Exchange
- Trasteel International SA, Italy
- Mjunction Services Limited - India
- Alfred C Toepfer International GmbH - Germany
- Bukit Baiduri Energy - Indonesia
- The State Trading Corporation of India Ltd
- PNOC Exploration Corporation - Philippines
- Anglo American - United Kingdom
- Billiton Holdings Pty Ltd - Australia
- Global Business Power Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Merrill Lynch Commodities Europe
- Coastal Gujarat Power Limited - India
- San Jose City I Power Corp, Philippines
- Standard Chartered Bank - UAE
- Bharathi Cement Corporation - India
- Meenaskhi Energy Private Limited - India
- Medco Energi Mining Internasional
- Edison Trading Spa - Italy
- Madhucon Powers Ltd - India
- Parliament of New Zealand
- Therma Luzon, Inc, Philippines
- Bulk Trading Sa - Switzerland
- ASAPP Information Group - India
- Siam City Cement - Thailand
- CIMB Investment Bank - Malaysia
- Economic Council, Georgia
- Kohat Cement Company Ltd. - Pakistan
- New Zealand Coal & Carbon
- Sical Logistics Limited - India
- Semirara Mining Corp, Philippines
- Sojitz Corporation - Japan
- Simpson Spence & Young - Indonesia
- Jindal Steel & Power Ltd - India
- SMG Consultants - Indonesia
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- Price Waterhouse Coopers - Russia
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- Altura Mining Limited, Indonesia
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