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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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Thursday, 31 July 14
RIO TINTO SELLS MOZAMBIQUE COAL ASSETS FOR US$ 50 MILLION TO INDIA'S ICVL
COALspot.com: Rio Tinto has agreed to sell its Mozambique coal assets for just US$ 50 million to International coal ventures Private limited of Ind ...
Wednesday, 30 July 14
CAPES SEEMED TO BE STRANDED AT THE SAME LEVELS; PANAMAXES MANAGED TO SLIGHTLY REVIVE - INTERMODAL
COALspot.com: The Dry Bulk market took a breath this past week, as both Panamaxes and Supras started to see a small influx of activity, which was j ...
Tuesday, 29 July 14
TOTAL SELLS ITS SOUTH AFRICAN COAL MINING ASSETS TO EXXARO
Total has signed an agreement with Exxaro Resources Ltd for the sale of its 100% stake in Total Coal South Africa (TCSA), its coal-producing affili ...
Tuesday, 29 July 14
GENCO: DRY BULK SHIPPING VALUATIONS NO LONGER ANCHORED TO DISCOUNTED CASH FLOW METHOD - WEIL
KNOWLEDGE TO ELEVATE
Discounted cash flow analysis is a mainstay among the valuation methodologies used by restructuring professionals and bank ...
Tuesday, 29 July 14
SHIP OWNERS' DEMAND OF NEW VESSELS DENTED AS A RESULT OF LOWER FREIGHT RATES - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The sharp downward direction of dry bulk freight rates has had a negative impact on investors’ secondhand buying appetite that wait to see th ...
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- Riau Bara Harum - Indonesia
- Intertek Mineral Services - Indonesia
- Bayan Resources Tbk. - Indonesia
- Thiess Contractors Indonesia
- Karaikal Port Pvt Ltd - India
- Wilmar Investment Holdings
- Coastal Gujarat Power Limited - India
- PTC India Limited - India
- Alfred C Toepfer International GmbH - Germany
- Ministry of Mines - Canada
- Indo Tambangraya Megah - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Malabar Cements Ltd - India
- VISA Power Limited - India
- Kartika Selabumi Mining - Indonesia
- Kobexindo Tractors - Indoneisa
- Independent Power Producers Association of India
- San Jose City I Power Corp, Philippines
- Sree Jayajothi Cements Limited - India
- Interocean Group of Companies - India
- Kideco Jaya Agung - Indonesia
- Latin American Coal - Colombia
- Salva Resources Pvt Ltd - India
- The State Trading Corporation of India Ltd
- OPG Power Generation Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- Standard Chartered Bank - UAE
- Manunggal Multi Energi - Indonesia
- Baramulti Group, Indonesia
- European Bulk Services B.V. - Netherlands
- Kohat Cement Company Ltd. - Pakistan
- Medco Energi Mining Internasional
- Sical Logistics Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Madhucon Powers Ltd - India
- Marubeni Corporation - India
- Star Paper Mills Limited - India
- Bhatia International Limited - India
- AsiaOL BioFuels Corp., Philippines
- London Commodity Brokers - England
- Jindal Steel & Power Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Eastern Coal Council - USA
- Bangladesh Power Developement Board
- Metalloyd Limited - United Kingdom
- Mercuria Energy - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Formosa Plastics Group - Taiwan
- Edison Trading Spa - Italy
- Leighton Contractors Pty Ltd - Australia
- Globalindo Alam Lestari - Indonesia
- Kaltim Prima Coal - Indonesia
- Ind-Barath Power Infra Limited - India
- Electricity Authority, New Zealand
- Petron Corporation, Philippines
- Parry Sugars Refinery, India
- Krishnapatnam Port Company Ltd. - India
- Anglo American - United Kingdom
- Vijayanagar Sugar Pvt Ltd - India
- Ministry of Finance - Indonesia
- Thai Mozambique Logistica
- SMG Consultants - Indonesia
- Iligan Light & Power Inc, Philippines
- Agrawal Coal Company - India
- Neyveli Lignite Corporation Ltd, - India
- Coal and Oil Company - UAE
- Gujarat Sidhee Cement - India
- Rio Tinto Coal - Australia
- Borneo Indobara - Indonesia
- Global Green Power PLC Corporation, Philippines
- Xindia Steels Limited - India
- Uttam Galva Steels Limited - India
- Tata Chemicals Ltd - India
- Romanian Commodities Exchange
- Indogreen Group - Indonesia
- Larsen & Toubro Limited - India
- GAC Shipping (India) Pvt Ltd
- Price Waterhouse Coopers - Russia
- Orica Mining Services - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Cigading International Bulk Terminal - Indonesia
- Aboitiz Power Corporation - Philippines
- Bhushan Steel Limited - India
- Orica Australia Pty. Ltd.
- Karbindo Abesyapradhi - Indoneisa
- International Coal Ventures Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- Indonesian Coal Mining Association
- Singapore Mercantile Exchange
- Electricity Generating Authority of Thailand
- Therma Luzon, Inc, Philippines
- Central Java Power - Indonesia
- Meenaskhi Energy Private Limited - India
- Gujarat Electricity Regulatory Commission - India
- Sindya Power Generating Company Private Ltd
- Kumho Petrochemical, South Korea
- Sinarmas Energy and Mining - Indonesia
- Barasentosa Lestari - Indonesia
- Banpu Public Company Limited - Thailand
- TeaM Sual Corporation - Philippines
- Bukit Makmur.PT - Indonesia
- Australian Coal Association
- The Treasury - Australian Government
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Videocon Industries ltd - India
- Vedanta Resources Plc - India
- Indika Energy - Indonesia
- Planning Commission, India
- Altura Mining Limited, Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Toyota Tsusho Corporation, Japan
- Kapuas Tunggal Persada - Indonesia
- Renaissance Capital - South Africa
- Bukit Baiduri Energy - Indonesia
- Pendopo Energi Batubara - Indonesia
- PowerSource Philippines DevCo
- SMC Global Power, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Eastern Energy - Thailand
- Siam City Cement PLC, Thailand
- South Luzon Thermal Energy Corporation
- Bhoruka Overseas - Indonesia
- Goldman Sachs - Singapore
- ASAPP Information Group - India
- India Bulls Power Limited - India
- IHS Mccloskey Coal Group - USA
- Central Electricity Authority - India
- GVK Power & Infra Limited - India
- Makarim & Taira - Indonesia
- Australian Commodity Traders Exchange
- PNOC Exploration Corporation - Philippines
- Africa Commodities Group - South Africa
- Parliament of New Zealand
- Deloitte Consulting - India
- Posco Energy - South Korea
- Offshore Bulk Terminal Pte Ltd, Singapore
- Port Waratah Coal Services - Australia
- Maheswari Brothers Coal Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Binh Thuan Hamico - Vietnam
- LBH Netherlands Bv - Netherlands
- Chamber of Mines of South Africa
- Antam Resourcindo - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Grasim Industreis Ltd - India
- Oldendorff Carriers - Singapore
- Ministry of Transport, Egypt
- Savvy Resources Ltd - HongKong
- PetroVietnam Power Coal Import and Supply Company
- Essar Steel Hazira Ltd - India
- Mercator Lines Limited - India
- Chettinad Cement Corporation Ltd - India
- Vizag Seaport Private Limited - India
- Global Business Power Corporation, Philippines
- Heidelberg Cement - Germany
- Semirara Mining Corp, Philippines
- Tamil Nadu electricity Board
- Lanco Infratech Ltd - India
- ICICI Bank Limited - India
- Timah Investasi Mineral - Indoneisa
- Bharathi Cement Corporation - India
- Billiton Holdings Pty Ltd - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- White Energy Company Limited
- Sarangani Energy Corporation, Philippines
- Mintek Dendrill Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Ambuja Cements Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Attock Cement Pakistan Limited
- The University of Queensland
- Kepco SPC Power Corporation, Philippines
- Sojitz Corporation - Japan
- Holcim Trading Pte Ltd - Singapore
- Semirara Mining and Power Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Commonwealth Bank - Australia
- Coalindo Energy - Indonesia
- Meralco Power Generation, Philippines
- New Zealand Coal & Carbon
- Economic Council, Georgia
- Directorate General of MIneral and Coal - Indonesia
- Cement Manufacturers Association - India
- CIMB Investment Bank - Malaysia
- Energy Link Ltd, New Zealand
- Indian Oil Corporation Limited
- Indian Energy Exchange, India
- Samtan Co., Ltd - South Korea
- Carbofer General Trading SA - India
- Mjunction Services Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- SN Aboitiz Power Inc, Philippines
- Dalmia Cement Bharat India
- MS Steel International - UAE
- Georgia Ports Authority, United States
- Power Finance Corporation Ltd., India
- CNBM International Corporation - China
- Trasteel International SA, Italy
- Sakthi Sugars Limited - India
- Directorate Of Revenue Intelligence - India
- Siam City Cement - Thailand
- Merrill Lynch Commodities Europe
- Wood Mackenzie - Singapore
- Ceylon Electricity Board - Sri Lanka
- Aditya Birla Group - India
- Simpson Spence & Young - Indonesia
- McConnell Dowell - Australia
- Minerals Council of Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- GMR Energy Limited - India
- Energy Development Corp, Philippines
- Jaiprakash Power Ventures ltd
- IEA Clean Coal Centre - UK
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