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  • SEPTEMBER 2021 HBA FOR EXPORTS INCREASED BY $19.04 MOM, $74.19 YTM AND $100.61 YOY
  • SEPTEMBER 2021 INDONESIAN COAL PRICE REFERENCE FOR EXPORTS FIXED AT US$ 150.03 A TON

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Monday, 28 June 21
MINISTRY OF ENERGY AND MINERAL RESOURCES OF INDONESIA THREATENS TO REVOKE 2,350 MINING BUSINESS PERMITS
Coal ExcavatorThe Ministry of Energy and Mineral Resources said that the revocation of mining business permits was in accordance with President Jokowi's instructions.
 
The Ministry of Energy and Mineral Resources has threatened to revoke mining business permits that do not carry out any activities at all. At least 2,350 business licenses that do not carry out any activities out of 5,600 mining business licenses that exist today, said katadata, a local media in its report.
 
The report further noted that, special Staff of the Mineral Resources for Mineral and Coal - Mining Management of Minister of Energy Irwandy Arif said that according to the instructions of the President of Indonesia, mining companies that do not carry out activities will have their permits revoked.
 
The katadata’s report further said, initially, the President requested 1,600 mining business permits, holders of Mining Business Permits (IUP), Coal Mining Concession Work Agreements (PKP2B), and Contracts of Work (KK) to have their permits reviewed. However, after the Ministry of Energy and Mineral Resources conducted a number of evaluations, it turned out that those who did not carry out activities actually exceeded 1600 permits.
 
Currently, the government is still evaluating all the problematic mining permits. Those who cannot carry out the activities will have their permit revoked. "It turns out that it's not 1,600, in fact there are 2,300 or closer to 2350 permits," said Irwandy in a virtual discussion, Friday (25/6).
 
For information, mining permits are no longer the authority of local governments. In accordance with Law Number 3 of 2020 concerning Mineral and Coal Mining or the Minerba Law, the central government took over the authority to issue or revoke permits. It is hoped that the presence of the regulation will reduce the complicated licensing process. At the same time, the government also issued Law Number 11 of 2020 concerning Job Creation. This omnibus law will facilitate the implementation of the one-stop licensing process and online single submission (OSS). The government is currently working on its derivative regulations. One that is being formulated is the draft government regulation (RPP) on the implementation of business licensing in the regions. It will contain technical requirements for simplification of low and medium risk business activities.


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Recent News

Saturday, 11 September 21
IN 2022, EIA EXPECTS U.S. COAL PRODUCTION TO INCREASE BY 47 MMST TO 648 MMST
U.S. Coal production accordng to EIA's forecast, totals 601 million short tons (MMst) in 2021, 66 MMst more than in 2020, EIA's Short-Term ...


Wednesday, 08 September 21
FITCH RATINGS RAISES THERMAL COAL PRICE ASSUMPTIONS ON TIGHT SUPPLY
Fitch Ratings has increased all its Qinhuangdao 5,500kcal/kg price assumptions and short- and medium-term Newcastle 6,000kcal/kg price assumptions ...


Wednesday, 08 September 21
COAL IS STILL KING; INDONESIAN COAL PRICE REFERENCE ABOVE $150 FOR FIRST TIME IN HISTORY
COALspot.com: The Indonesian Coal Price Reference rose dramatically from US$ 127.05 in February 2011, to a peak of US$ 150.03 in September 2021, be ...


Wednesday, 08 September 21
MARKET INSIGHT - INTERMODAL
Last August was extremely hot in the dry bulk market with rates rising at levels that we have years to witness. The dry bulk index exceeded the 4,0 ...


Wednesday, 01 September 21
KOMIPO TO BUY 1.56 MILLION TONS OF 5600 NAR COAL OF AUSTRALIA OR SOUTH AFRICAN ORIGIN FOR 2022 - 2024
COALspot.com: Korea Midland Power Co., Ltd (KOMIPO) has issued an international tender for total 1,560,000 MT of  Bituminous Coal to be used a ...


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