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Monday, 19 November 12
GOVT PREPARES TO FACE ANOTHER SUIT ON MINING LAW - THE JAKARTA POST
The government is gearing up to face a complaint on the 2009 Mining Law prepared by the same organization that previously brought down upstream oil and gas regulator BPMigas through a surprising verdict from the Constitutional Court, a minister has said.
Energy and Mineral Resources Minister Jero Wacik said on Sunday he would gather all of the lawmakers and officials involved in the formulation of the Mining Law as part of preparations for the planned judicial review.
“It is my job as a minister to implement all the steps stipulated in the existing laws. If a law is annulled, then those involved in its drafting must also be responsible,” he told The Jakarta Post in a
telephone interview.
Jero was commenting on a recent statement by Muhammadiyah’s chairman, Din Syamsuddin, who said the organization would continue to file complaints on several natural resource laws in a bid to open access for Indonesians to benefit from the country’s rich resources.
Din told reporters at Muhammadiyah’s headquarters in Jakarta last Thursday that the nation’s second-largest Muslim organization saw several regulations, including those issued under the Mining Law, as unconstitutional because “they have impoverished the majority of Indonesians and enriched foreign agencies”.
“We are not anti-foreigners, but we believe that the government must put its people first before any business ties with foreign companies,” he added.
Din cited this idea as the reason Muhammadiyah had teamed up with 41 other organizations to file a review of the 2001 Oil and Gas Law last year, several parts of which were struck down by the Constitutional Court last week, resulting in the dissolution of BPMigas.
According to Din, a team of experts had conducted a thorough review of the law from 2009 to 2010 before finally concluding that it contradicted the 1945 Constitution.
Several high-profile figures also joined the club to petition for the review, including Hasyim Muzadi, the former chairman of Indonesia’s largest Muslim organization, Nahdlatul Ulama (NU), and senior Golkar Party politician and former industry minister, Fahmi Idris.
Kwik Kian Gie and Rizal Ramli — former ministers under administrations of the late Abdurrahman Wahid and Megawati Soekarnoputri — as well as Kurtubi, an energy expert at state energy firm PT Pertamina, were asked by the plaintiffs to become expert witnesses in the case.
In September, a Supreme Court verdict ordered the government to withdraw four chapters of the Energy and Mineral Resources Ministerial Decree No. 7 on mineral processing, including one chapter on export taxes for mineral ore, after reviewing a complaint from Indonesia’s nickel businesses association.
The export tax was meant to prevent the exploitation of mineral ore ahead of the government’s plan to fully prohibit exports of unprocessed metals in 2014, as stipulated in the Mining Law, which will be subject to review by the Constitutional Court.
Jero had earlier said that the government was currently drafting a new regulation in light of the verdict.
Separately, noted lawyer Todung Mulya Lubis said the court’s verdict to disband BPMigas pointed to the legal uncertainties faced by foreign investors in expanding their businesses in Southeast Asia’s largest economy.
With the Constitutional Court currently reviewing the 2009 Mining Law, Todung noted more businesses would be wary of the risks of investing in Indonesia.
Source: The Jakarta Post (by: Amahl S. Azwar and Margareth S. Aritonang)
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Tuesday, 03 November 15
API 5 FOB NEWCASTLE COAL SWAPS DECLINE CONTINUES
COALspot.com: API 5 FOB Newcastle Coal swap for Q4’ 2015 delivery slid $1.84 per ton (4.34%) month over month to US$ 40.54 per ton. The swap ...
Tuesday, 03 November 15
EU OIL MAJORS FACE FURTHER EARNINGS DECLINE IN Q415 - FITCH RATINGS
The sharp drop in major European oil companies' third-quarter profits is likely to be extended in the fourth quarter as refining margins, which ...
Monday, 02 November 15
DESPITE CHALLENGING MARKET CONDITIONS, ADARO LOWERS COSTS, DEBT AND DELIVERS STRONG FREE CASH FLOW
COALspot.com: Despite challenging market conditions, Adaro lowers costs, lowers debt and delivers strong free cash flow.
The Indonesia’s ...
Monday, 02 November 15
CFR SOUTH CHINA COAL SWAPS CLOSED ON A WEAK NOTE
COALspot.com: API 8 CFR South China Coal swap for 4Q’ 2015 delivery declined US$ 1.81(3.71 %) per ton month over month.
A commodity swap ...
Sunday, 01 November 15
THE FREIGHT MARKET SENTIMENT REMAINS WEAK
This week’s freight market sentiment remains weak compared to last week.
The Baltic Dry Index (BDI), an economic indicator issued daily ...
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- Chettinad Cement Corporation Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Global Coal Blending Company Limited - Australia
- TeaM Sual Corporation - Philippines
- White Energy Company Limited
- Sree Jayajothi Cements Limited - India
- SN Aboitiz Power Inc, Philippines
- Holcim Trading Pte Ltd - Singapore
- Romanian Commodities Exchange
- Maharashtra Electricity Regulatory Commission - India
- IEA Clean Coal Centre - UK
- Iligan Light & Power Inc, Philippines
- Tata Chemicals Ltd - India
- Aboitiz Power Corporation - Philippines
- PNOC Exploration Corporation - Philippines
- Alfred C Toepfer International GmbH - Germany
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- Barasentosa Lestari - Indonesia
- South Luzon Thermal Energy Corporation
- Bulk Trading Sa - Switzerland
- Vedanta Resources Plc - India
- Pendopo Energi Batubara - Indonesia
- Straits Asia Resources Limited - Singapore
- Central Java Power - Indonesia
- Intertek Mineral Services - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Jindal Steel & Power Ltd - India
- Parliament of New Zealand
- Attock Cement Pakistan Limited
- Carbofer General Trading SA - India
- Savvy Resources Ltd - HongKong
- Parry Sugars Refinery, India
- Timah Investasi Mineral - Indoneisa
- Gujarat Sidhee Cement - India
- Petrochimia International Co. Ltd.- Taiwan
- Banpu Public Company Limited - Thailand
- India Bulls Power Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kideco Jaya Agung - Indonesia
- International Coal Ventures Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Karbindo Abesyapradhi - Indoneisa
- Price Waterhouse Coopers - Russia
- Indian Energy Exchange, India
- Bhushan Steel Limited - India
- Miang Besar Coal Terminal - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- SMG Consultants - Indonesia
- OPG Power Generation Pvt Ltd - India
- Wilmar Investment Holdings
- Sindya Power Generating Company Private Ltd
- Oldendorff Carriers - Singapore
- Renaissance Capital - South Africa
- San Jose City I Power Corp, Philippines
- Coal and Oil Company - UAE
- Ministry of Finance - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Mjunction Services Limited - India
- Global Business Power Corporation, Philippines
- GMR Energy Limited - India
- European Bulk Services B.V. - Netherlands
- Lanco Infratech Ltd - India
- Planning Commission, India
- Africa Commodities Group - South Africa
- Medco Energi Mining Internasional
- Australian Coal Association
- Power Finance Corporation Ltd., India
- Merrill Lynch Commodities Europe
- Kalimantan Lumbung Energi - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Sakthi Sugars Limited - India
- Larsen & Toubro Limited - India
- Agrawal Coal Company - India
- Cigading International Bulk Terminal - Indonesia
- Karaikal Port Pvt Ltd - India
- Madhucon Powers Ltd - India
- Energy Development Corp, Philippines
- Kaltim Prima Coal - Indonesia
- Economic Council, Georgia
- Singapore Mercantile Exchange
- ASAPP Information Group - India
- AsiaOL BioFuels Corp., Philippines
- Kohat Cement Company Ltd. - Pakistan
- Samtan Co., Ltd - South Korea
- SMC Global Power, Philippines
- Eastern Coal Council - USA
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Meralco Power Generation, Philippines
- Directorate Of Revenue Intelligence - India
- Leighton Contractors Pty Ltd - Australia
- IHS Mccloskey Coal Group - USA
- Orica Australia Pty. Ltd.
- Indonesian Coal Mining Association
- Vizag Seaport Private Limited - India
- Bhatia International Limited - India
- Port Waratah Coal Services - Australia
- Minerals Council of Australia
- Antam Resourcindo - Indonesia
- GVK Power & Infra Limited - India
- Interocean Group of Companies - India
- ICICI Bank Limited - India
- Sical Logistics Limited - India
- GN Power Mariveles Coal Plant, Philippines
- The State Trading Corporation of India Ltd
- Indo Tambangraya Megah - Indonesia
- PowerSource Philippines DevCo
- Globalindo Alam Lestari - Indonesia
- London Commodity Brokers - England
- Ministry of Mines - Canada
- PetroVietnam Power Coal Import and Supply Company
- Siam City Cement PLC, Thailand
- Rashtriya Ispat Nigam Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Thiess Contractors Indonesia
- Salva Resources Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- The University of Queensland
- Jaiprakash Power Ventures ltd
- Electricity Authority, New Zealand
- VISA Power Limited - India
- PTC India Limited - India
- Indika Energy - Indonesia
- Meenaskhi Energy Private Limited - India
- Semirara Mining Corp, Philippines
- Electricity Generating Authority of Thailand
- Directorate General of MIneral and Coal - Indonesia
- Coastal Gujarat Power Limited - India
- Kobexindo Tractors - Indoneisa
- Siam City Cement - Thailand
- Mintek Dendrill Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Australian Commodity Traders Exchange
- Trasteel International SA, Italy
- Wood Mackenzie - Singapore
- Tamil Nadu electricity Board
- Edison Trading Spa - Italy
- Commonwealth Bank - Australia
- Binh Thuan Hamico - Vietnam
- Semirara Mining and Power Corporation, Philippines
- Georgia Ports Authority, United States
- Independent Power Producers Association of India
- Cement Manufacturers Association - India
- Indian Oil Corporation Limited
- Anglo American - United Kingdom
- Global Green Power PLC Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Gujarat Mineral Development Corp Ltd - India
- Goldman Sachs - Singapore
- Asmin Koalindo Tuhup - Indonesia
- Baramulti Group, Indonesia
- Maheswari Brothers Coal Limited - India
- Riau Bara Harum - Indonesia
- Bhoruka Overseas - Indonesia
- Indogreen Group - Indonesia
- GAC Shipping (India) Pvt Ltd
- Simpson Spence & Young - Indonesia
- Deloitte Consulting - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- The Treasury - Australian Government
- Grasim Industreis Ltd - India
- Dalmia Cement Bharat India
- Metalloyd Limited - United Kingdom
- Star Paper Mills Limited - India
- Aditya Birla Group - India
- Videocon Industries ltd - India
- Xindia Steels Limited - India
- Orica Mining Services - Indonesia
- Bukit Baiduri Energy - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Central Electricity Authority - India
- Neyveli Lignite Corporation Ltd, - India
- Eastern Energy - Thailand
- Makarim & Taira - Indonesia
- Kartika Selabumi Mining - Indonesia
- Bangladesh Power Developement Board
- Sarangani Energy Corporation, Philippines
- McConnell Dowell - Australia
- Mercuria Energy - Indonesia
- Chamber of Mines of South Africa
- Formosa Plastics Group - Taiwan
- Posco Energy - South Korea
- Rio Tinto Coal - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Ministry of Transport, Egypt
- Bharathi Cement Corporation - India
- Altura Mining Limited, Indonesia
- Therma Luzon, Inc, Philippines
- New Zealand Coal & Carbon
- Uttam Galva Steels Limited - India
- Gujarat Electricity Regulatory Commission - India
- Standard Chartered Bank - UAE
- Ind-Barath Power Infra Limited - India
- Essar Steel Hazira Ltd - India
- Ambuja Cements Ltd - India
- Petron Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Bayan Resources Tbk. - Indonesia
- LBH Netherlands Bv - Netherlands
- Sojitz Corporation - Japan
- Bukit Asam (Persero) Tbk - Indonesia
- Energy Link Ltd, New Zealand
- Toyota Tsusho Corporation, Japan
- Bukit Makmur.PT - Indonesia
- Latin American Coal - Colombia
- Borneo Indobara - Indonesia
- Heidelberg Cement - Germany
- MS Steel International - UAE
- Coalindo Energy - Indonesia
- CIMB Investment Bank - Malaysia
- Malabar Cements Ltd - India
- Thai Mozambique Logistica
- Kumho Petrochemical, South Korea
- Mercator Lines Limited - India
- Marubeni Corporation - India
- CNBM International Corporation - China
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