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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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Wednesday, 19 August 15
FOB INDONESIA COAL SWAPS CONTINUE FLAT TREND LINE THIS WEEK
COALspot.com: Indonesian coal swap for delivery 4Q 2015 declined month on month and flat week over week, this past week.
The 4Q swap was decli ...
Tuesday, 18 August 15
DRY BULK: MARKETS HAVE CONTINUED TO BE SEVERELY CHALLENGED - CLARKSONS
The dry bulk markets have continued to be severely challenged with freight rates falling during the period to below operating expense. The Baltic D ...
Tuesday, 18 August 15
1Q'16 FOB RICHARDS BAY COAL SWAP FALLS BELOW $54 A TON
COALspot.com: API4 FOB Richards Bay Coal swap for delivery 4Q' 2015 declined month over month and week over week.
The 4Q swap was down US$ ...
Tuesday, 18 August 15
2Q' 16 FOB NEWCASTLE COAL SWAP CLOSED AT $43 PER MT W/E 14 AUGUST
COALspot.com: API 5 FOB Newcastle Coal swap for 4Q’ 2015 delivery down $ 1.08 per MT (-2.46%) month over month to US$ 42.82 per mt. The swap ...
Monday, 17 August 15
TROUBLED DRY BULK MARKET FACES TURMOIL AS CHINESE COAL IMPORTS REMAIN WEAK - BIMCO
The demand for coal in China continues to diminish. So much in fact that India is expected to succeed China as the world’s largest imp ...
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- Riau Bara Harum - Indonesia
- SMC Global Power, Philippines
- The University of Queensland
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- McConnell Dowell - Australia
- Maharashtra Electricity Regulatory Commission - India
- Australian Commodity Traders Exchange
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- Price Waterhouse Coopers - Russia
- Posco Energy - South Korea
- South Luzon Thermal Energy Corporation
- Energy Link Ltd, New Zealand
- GAC Shipping (India) Pvt Ltd
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- Ministry of Finance - Indonesia
- Aboitiz Power Corporation - Philippines
- Leighton Contractors Pty Ltd - Australia
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- Minerals Council of Australia
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- Jindal Steel & Power Ltd - India
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- Heidelberg Cement - Germany
- Jaiprakash Power Ventures ltd
- Parliament of New Zealand
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- Tamil Nadu electricity Board
- Singapore Mercantile Exchange
- Indian Oil Corporation Limited
- Bhatia International Limited - India
- Cement Manufacturers Association - India
- Coastal Gujarat Power Limited - India
- Larsen & Toubro Limited - India
- Mintek Dendrill Indonesia
- Eastern Coal Council - USA
- Chamber of Mines of South Africa
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- Rio Tinto Coal - Australia
- Bhushan Steel Limited - India
- Barasentosa Lestari - Indonesia
- Global Coal Blending Company Limited - Australia
- Straits Asia Resources Limited - Singapore
- Mercuria Energy - Indonesia
- Central Java Power - Indonesia
- Africa Commodities Group - South Africa
- International Coal Ventures Pvt Ltd - India
- Ministry of Mines - Canada
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- Electricity Authority, New Zealand
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- TNB Fuel Sdn Bhd - Malaysia
- Bukit Makmur.PT - Indonesia
- Billiton Holdings Pty Ltd - Australia
- ICICI Bank Limited - India
- Kobexindo Tractors - Indoneisa
- Deloitte Consulting - India
- Energy Development Corp, Philippines
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- PetroVietnam Power Coal Import and Supply Company
- Renaissance Capital - South Africa
- CNBM International Corporation - China
- Gujarat Mineral Development Corp Ltd - India
- Anglo American - United Kingdom
- Commonwealth Bank - Australia
- Central Electricity Authority - India
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- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Australian Coal Association
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- Bulk Trading Sa - Switzerland
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- Samtan Co., Ltd - South Korea
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