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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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Sunday, 09 December 12
LOW DEMAND PUSHES CHARTER RATES TOWARDS DOWN - VISTAAR
COALspot.com - The freight market has softened and BDI, The Baltic Dry Index, a measure of shipping costs for dry bulk goods, plunged below 10 ...
Friday, 07 December 12
A NEW PHASE FOR AUSTRALIAN RESOURCES - A FITCH STREET INTERVIEW
This week Matt Jamieson spoke with Andrew Colquhoun in Fitch's Asian sovereign rating team, and Vicky Melbourne, Fitch's commodity analyst based i ...
Friday, 07 December 12
SHIPPING INDUSTRY LOOKING ON YET ANOTHER TOUGH YEAR AS WE APPROACH 2013 - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
With shipping finance "on the ropes" as traditional lenders appear to be cutting their losses and tonnage oversupply still the most import ...
Thursday, 06 December 12
PANAMAX : THE POSITIVE VIBES IN THE ATLANTIC REMAINS - FEARNLEYS AS
Handy
The Atlantic market is still depressed with dearth of cargoes and more ships. The trips from Continent to Feast fixed around USD 12k. Trips f ...
Thursday, 06 December 12
STRONG CHINESE DEMAND FOR DRY BULK COMMODITIES EXPECTED FOR 2013 - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
A new analysis from BIMCO released yesterday suggests that 2013 is expected to be a stronger year in terms of China's "hunger" for commod ...
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- Posco Energy - South Korea
- Semirara Mining Corp, Philippines
- Eastern Energy - Thailand
- Indo Tambangraya Megah - Indonesia
- Tamil Nadu electricity Board
- Georgia Ports Authority, United States
- Latin American Coal - Colombia
- Marubeni Corporation - India
- Sinarmas Energy and Mining - Indonesia
- Indonesian Coal Mining Association
- Bukit Makmur.PT - Indonesia
- Bangladesh Power Developement Board
- Jorong Barutama Greston.PT - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- PNOC Exploration Corporation - Philippines
- Electricity Generating Authority of Thailand
- Mercator Lines Limited - India
- Madhucon Powers Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- Tata Chemicals Ltd - India
- SMG Consultants - Indonesia
- Binh Thuan Hamico - Vietnam
- Central Java Power - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Kobexindo Tractors - Indoneisa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- McConnell Dowell - Australia
- Gujarat Sidhee Cement - India
- Karaikal Port Pvt Ltd - India
- Coal and Oil Company - UAE
- Grasim Industreis Ltd - India
- Kideco Jaya Agung - Indonesia
- Kumho Petrochemical, South Korea
- Mintek Dendrill Indonesia
- Singapore Mercantile Exchange
- Bharathi Cement Corporation - India
- Ministry of Mines - Canada
- Anglo American - United Kingdom
- Vizag Seaport Private Limited - India
- Heidelberg Cement - Germany
- Siam City Cement - Thailand
- Central Electricity Authority - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Mjunction Services Limited - India
- Star Paper Mills Limited - India
- ICICI Bank Limited - India
- Coalindo Energy - Indonesia
- Larsen & Toubro Limited - India
- LBH Netherlands Bv - Netherlands
- Miang Besar Coal Terminal - Indonesia
- Jindal Steel & Power Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Barasentosa Lestari - Indonesia
- Merrill Lynch Commodities Europe
- Eastern Coal Council - USA
- Coastal Gujarat Power Limited - India
- Samtan Co., Ltd - South Korea
- Intertek Mineral Services - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Electricity Authority, New Zealand
- Billiton Holdings Pty Ltd - Australia
- Trasteel International SA, Italy
- GAC Shipping (India) Pvt Ltd
- Energy Link Ltd, New Zealand
- Rashtriya Ispat Nigam Limited - India
- Pendopo Energi Batubara - Indonesia
- Global Green Power PLC Corporation, Philippines
- Videocon Industries ltd - India
- The State Trading Corporation of India Ltd
- Bulk Trading Sa - Switzerland
- Mercuria Energy - Indonesia
- Rio Tinto Coal - Australia
- Orica Mining Services - Indonesia
- Attock Cement Pakistan Limited
- Africa Commodities Group - South Africa
- ASAPP Information Group - India
- Thiess Contractors Indonesia
- Riau Bara Harum - Indonesia
- Meenaskhi Energy Private Limited - India
- Maheswari Brothers Coal Limited - India
- Chettinad Cement Corporation Ltd - India
- Romanian Commodities Exchange
- Indogreen Group - Indonesia
- Simpson Spence & Young - Indonesia
- Edison Trading Spa - Italy
- Price Waterhouse Coopers - Russia
- IEA Clean Coal Centre - UK
- TeaM Sual Corporation - Philippines
- Energy Development Corp, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Minerals Council of Australia
- Iligan Light & Power Inc, Philippines
- Sojitz Corporation - Japan
- Leighton Contractors Pty Ltd - Australia
- Malabar Cements Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Kapuas Tunggal Persada - Indonesia
- London Commodity Brokers - England
- Ambuja Cements Ltd - India
- Sakthi Sugars Limited - India
- OPG Power Generation Pvt Ltd - India
- Power Finance Corporation Ltd., India
- Indian Energy Exchange, India
- Renaissance Capital - South Africa
- Bukit Asam (Persero) Tbk - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Wood Mackenzie - Singapore
- Xindia Steels Limited - India
- Formosa Plastics Group - Taiwan
- Ministry of Finance - Indonesia
- Chamber of Mines of South Africa
- India Bulls Power Limited - India
- Vedanta Resources Plc - India
- Sarangani Energy Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Planning Commission, India
- Kohat Cement Company Ltd. - Pakistan
- Bhoruka Overseas - Indonesia
- Altura Mining Limited, Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Globalindo Alam Lestari - Indonesia
- Sical Logistics Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Australian Coal Association
- Siam City Cement PLC, Thailand
- Baramulti Group, Indonesia
- Lanco Infratech Ltd - India
- Bhatia International Limited - India
- Bayan Resources Tbk. - Indonesia
- CNBM International Corporation - China
- Interocean Group of Companies - India
- CIMB Investment Bank - Malaysia
- Petron Corporation, Philippines
- Parliament of New Zealand
- Orica Australia Pty. Ltd.
- Aditya Birla Group - India
- Meralco Power Generation, Philippines
- Salva Resources Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- PowerSource Philippines DevCo
- Sree Jayajothi Cements Limited - India
- Savvy Resources Ltd - HongKong
- South Luzon Thermal Energy Corporation
- Thai Mozambique Logistica
- Independent Power Producers Association of India
- MS Steel International - UAE
- Standard Chartered Bank - UAE
- Kartika Selabumi Mining - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Carbofer General Trading SA - India
- Goldman Sachs - Singapore
- Agrawal Coal Company - India
- PTC India Limited - India
- Commonwealth Bank - Australia
- Indian Oil Corporation Limited
- GMR Energy Limited - India
- Gujarat Electricity Regulatory Commission - India
- Economic Council, Georgia
- International Coal Ventures Pvt Ltd - India
- Medco Energi Mining Internasional
- Gujarat Mineral Development Corp Ltd - India
- Port Waratah Coal Services - Australia
- Toyota Tsusho Corporation, Japan
- White Energy Company Limited
- SMC Global Power, Philippines
- Wilmar Investment Holdings
- Indika Energy - Indonesia
- Timah Investasi Mineral - Indoneisa
- Therma Luzon, Inc, Philippines
- Uttam Galva Steels Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Deloitte Consulting - India
- Sindya Power Generating Company Private Ltd
- VISA Power Limited - India
- SN Aboitiz Power Inc, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Maharashtra Electricity Regulatory Commission - India
- Kepco SPC Power Corporation, Philippines
- Banpu Public Company Limited - Thailand
- Ind-Barath Power Infra Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Aboitiz Power Corporation - Philippines
- Manunggal Multi Energi - Indonesia
- New Zealand Coal & Carbon
- Dalmia Cement Bharat India
- San Jose City I Power Corp, Philippines
- Semirara Mining and Power Corporation, Philippines
- Essar Steel Hazira Ltd - India
- Oldendorff Carriers - Singapore
- Straits Asia Resources Limited - Singapore
- IHS Mccloskey Coal Group - USA
- Bhushan Steel Limited - India
- Jaiprakash Power Ventures ltd
- Global Coal Blending Company Limited - Australia
- European Bulk Services B.V. - Netherlands
- Makarim & Taira - Indonesia
- GVK Power & Infra Limited - India
- Borneo Indobara - Indonesia
- Metalloyd Limited - United Kingdom
- Bukit Baiduri Energy - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Parry Sugars Refinery, India
- Cigading International Bulk Terminal - Indonesia
- The University of Queensland
- Global Business Power Corporation, Philippines
- The Treasury - Australian Government
- Directorate Of Revenue Intelligence - India
- Bahari Cakrawala Sebuku - Indonesia
- Cement Manufacturers Association - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Antam Resourcindo - Indonesia
- Australian Commodity Traders Exchange
- Ministry of Transport, Egypt
- Kaltim Prima Coal - Indonesia
- AsiaOL BioFuels Corp., Philippines
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