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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, 02 August 12
OIL & GAS COMPANIES TO MEET IN MYANMAR FOR UPDATES ON NEW ROUND OF BIDDING AND INVESTMENT POTENTIAL IN UPSTREAM OIL, GAS, AND POWER GENERATION
Press Release - 2nd MOGP Summit (Myanmar Oil, Gas & Power) will convene in Yangon from 3 – 6 September 2012, to unveil new round of biddin ...
Thursday, 02 August 12
DRY BULK MARKET RATES CONTINUE SLUMP AMID SLOWER DEMAND NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market kept on its downward path Wednesday, as the BDI (Baltic Dry Index) kept retreating to new lows. The index was down by 2.12 perce ...
Monday, 30 July 12
DRY BULK MARKET TO REMAIN UNDER PRESSURE FOR THE REST OF 2012 - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
In an interview with Hellenic Shipping News Worldwide, Mr. Yannis Pachoulis, President of the Hellenic Shipbrokers' Association, remains cautiously ...
Sunday, 29 July 12
FREIGHT MARKET MOMENTUM CONTINUES TO WEAK
COALspot.com - The freight market continued to soft this week with all the segments dropped and the BDI fell below 1,000 points and closed at 933 po ...
Saturday, 28 July 12
CAL 2013 COAL SWAPS ARE HIGHER COMPARED TO SEPT 2012 PRICES
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) for September 2012 delivery gain 0.47 percent on Friday (27 July 2012) closing DoD but lost 0.90 ...
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- SMC Global Power, Philippines
- Minerals Council of Australia
- Ceylon Electricity Board - Sri Lanka
- Australian Coal Association
- GN Power Mariveles Coal Plant, Philippines
- OPG Power Generation Pvt Ltd - India
- Karaikal Port Pvt Ltd - India
- Posco Energy - South Korea
- Timah Investasi Mineral - Indoneisa
- Planning Commission, India
- Banpu Public Company Limited - Thailand
- Grasim Industreis Ltd - India
- Sakthi Sugars Limited - India
- Bhushan Steel Limited - India
- European Bulk Services B.V. - Netherlands
- TeaM Sual Corporation - Philippines
- Indian Oil Corporation Limited
- Bukit Makmur.PT - Indonesia
- San Jose City I Power Corp, Philippines
- Singapore Mercantile Exchange
- Indika Energy - Indonesia
- Edison Trading Spa - Italy
- Indogreen Group - Indonesia
- Larsen & Toubro Limited - India
- Savvy Resources Ltd - HongKong
- Coal and Oil Company - UAE
- Georgia Ports Authority, United States
- MS Steel International - UAE
- Mintek Dendrill Indonesia
- SMG Consultants - Indonesia
- Indo Tambangraya Megah - Indonesia
- Therma Luzon, Inc, Philippines
- Globalindo Alam Lestari - Indonesia
- Parry Sugars Refinery, India
- Videocon Industries ltd - India
- Maheswari Brothers Coal Limited - India
- Borneo Indobara - Indonesia
- Barasentosa Lestari - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Aditya Birla Group - India
- Neyveli Lignite Corporation Ltd, - India
- Indian Energy Exchange, India
- Mercator Lines Limited - India
- Kumho Petrochemical, South Korea
- Wilmar Investment Holdings
- Renaissance Capital - South Africa
- Interocean Group of Companies - India
- Kartika Selabumi Mining - Indonesia
- Sree Jayajothi Cements Limited - India
- Deloitte Consulting - India
- Heidelberg Cement - Germany
- Leighton Contractors Pty Ltd - Australia
- PTC India Limited - India
- Binh Thuan Hamico - Vietnam
- ICICI Bank Limited - India
- Orica Australia Pty. Ltd.
- Gujarat Electricity Regulatory Commission - India
- Bulk Trading Sa - Switzerland
- Bukit Asam (Persero) Tbk - Indonesia
- Price Waterhouse Coopers - Russia
- Kepco SPC Power Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Petron Corporation, Philippines
- Marubeni Corporation - India
- Indonesian Coal Mining Association
- Manunggal Multi Energi - Indonesia
- Africa Commodities Group - South Africa
- Global Green Power PLC Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- CIMB Investment Bank - Malaysia
- ASAPP Information Group - India
- Trasteel International SA, Italy
- Asmin Koalindo Tuhup - Indonesia
- The Treasury - Australian Government
- White Energy Company Limited
- Star Paper Mills Limited - India
- Independent Power Producers Association of India
- GVK Power & Infra Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Samtan Co., Ltd - South Korea
- PNOC Exploration Corporation - Philippines
- Kideco Jaya Agung - Indonesia
- Mercuria Energy - Indonesia
- Electricity Authority, New Zealand
- Iligan Light & Power Inc, Philippines
- London Commodity Brokers - England
- Thiess Contractors Indonesia
- Karbindo Abesyapradhi - Indoneisa
- VISA Power Limited - India
- Meralco Power Generation, Philippines
- Global Business Power Corporation, Philippines
- Makarim & Taira - Indonesia
- Semirara Mining and Power Corporation, Philippines
- India Bulls Power Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Sarangani Energy Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Central Java Power - Indonesia
- South Luzon Thermal Energy Corporation
- Energy Link Ltd, New Zealand
- Alfred C Toepfer International GmbH - Germany
- Commonwealth Bank - Australia
- Directorate General of MIneral and Coal - Indonesia
- Metalloyd Limited - United Kingdom
- Tata Chemicals Ltd - India
- Baramulti Group, Indonesia
- Miang Besar Coal Terminal - Indonesia
- CNBM International Corporation - China
- Medco Energi Mining Internasional
- Anglo American - United Kingdom
- Lanco Infratech Ltd - India
- Ind-Barath Power Infra Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Xindia Steels Limited - India
- Kapuas Tunggal Persada - Indonesia
- Merrill Lynch Commodities Europe
- Thai Mozambique Logistica
- Cement Manufacturers Association - India
- Goldman Sachs - Singapore
- Tamil Nadu electricity Board
- Meenaskhi Energy Private Limited - India
- Jaiprakash Power Ventures ltd
- IEA Clean Coal Centre - UK
- Kaltim Prima Coal - Indonesia
- Electricity Generating Authority of Thailand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bangladesh Power Developement Board
- Jorong Barutama Greston.PT - Indonesia
- Straits Asia Resources Limited - Singapore
- Gujarat Sidhee Cement - India
- Simpson Spence & Young - Indonesia
- Oldendorff Carriers - Singapore
- Altura Mining Limited, Indonesia
- Holcim Trading Pte Ltd - Singapore
- Aboitiz Power Corporation - Philippines
- McConnell Dowell - Australia
- Global Coal Blending Company Limited - Australia
- Economic Council, Georgia
- Parliament of New Zealand
- Toyota Tsusho Corporation, Japan
- Uttam Galva Steels Limited - India
- Sical Logistics Limited - India
- SN Aboitiz Power Inc, Philippines
- Siam City Cement PLC, Thailand
- Bhoruka Overseas - Indonesia
- Ambuja Cements Ltd - India
- Power Finance Corporation Ltd., India
- Madhucon Powers Ltd - India
- Sindya Power Generating Company Private Ltd
- Ministry of Mines - Canada
- Bahari Cakrawala Sebuku - Indonesia
- Port Waratah Coal Services - Australia
- Kobexindo Tractors - Indoneisa
- Dalmia Cement Bharat India
- International Coal Ventures Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Pendopo Energi Batubara - Indonesia
- Intertek Mineral Services - Indonesia
- The State Trading Corporation of India Ltd
- Vizag Seaport Private Limited - India
- Bharathi Cement Corporation - India
- IHS Mccloskey Coal Group - USA
- Chettinad Cement Corporation Ltd - India
- Attock Cement Pakistan Limited
- Wood Mackenzie - Singapore
- Standard Chartered Bank - UAE
- Bhatia International Limited - India
- Malabar Cements Ltd - India
- Directorate Of Revenue Intelligence - India
- Eastern Coal Council - USA
- Australian Commodity Traders Exchange
- Bukit Baiduri Energy - Indonesia
- Formosa Plastics Group - Taiwan
- Pipit Mutiara Jaya. PT, Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- GMR Energy Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Vedanta Resources Plc - India
- Sojitz Corporation - Japan
- Vijayanagar Sugar Pvt Ltd - India
- New Zealand Coal & Carbon
- Bayan Resources Tbk. - Indonesia
- Krishnapatnam Port Company Ltd. - India
- The University of Queensland
- Ministry of Transport, Egypt
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Carbofer General Trading SA - India
- Semirara Mining Corp, Philippines
- PowerSource Philippines DevCo
- Coastal Gujarat Power Limited - India
- Eastern Energy - Thailand
- GAC Shipping (India) Pvt Ltd
- AsiaOL BioFuels Corp., Philippines
- Siam City Cement - Thailand
- Orica Mining Services - Indonesia
- Billiton Holdings Pty Ltd - Australia
- LBH Netherlands Bv - Netherlands
- Agrawal Coal Company - India
- Riau Bara Harum - Indonesia
- Essar Steel Hazira Ltd - India
- Jindal Steel & Power Ltd - India
- Central Electricity Authority - India
- Latin American Coal - Colombia
- Sinarmas Energy and Mining - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Petrochimia International Co. Ltd.- Taiwan
- Romanian Commodities Exchange
- Salva Resources Pvt Ltd - India
- Ministry of Finance - Indonesia
- Coalindo Energy - Indonesia
- Mjunction Services Limited - India
- Rio Tinto Coal - Australia
- Antam Resourcindo - Indonesia
- Energy Development Corp, Philippines
- Chamber of Mines of South Africa
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