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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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Monday, 26 March 12
WEEKLY DRY MARKET OVERVIEW - MARIA BERTZELETOU, HELLENIC SHIPPING
The Baltic Dry Index follows its upward incline for fourth consecutive week by rising to more than 900 points, up by 37% from the bottom low in the ...
Monday, 26 March 12
GOLDEN MINES FY11 REVENUE JUMPS 209% - INSIDER STORIES
Insider Stories reported that, coal miner PT Golden Energy Mines Tbk (GEMS), that is controlled by Sinar Mas Group, recorded a 209% jump in revenue ...
Saturday, 24 March 12
AUSTRALIA'S MINERAL TAX : BENCHMARK FOR OTHER COUNTRIES - SUNIL K KUMBHAT
COALspot.com - Natural resources rich counties like Australia , Indonesia , South Africa , Brazil etc are going through a spectacular resources boom ...
Saturday, 24 March 12
THE AVERAGE CHARTER RATES WAS AT CAPESIZE $ 4,546 PER DAY VS SUPRAMAX / $ 10,819 PER DAY - VISTAAR
COALspot.com - The BDI crossed 900 points this week closing at 908 points up by 3.89 pct. All other sectors were up except for cape index whic ...
Thursday, 22 March 12
ECI-CHINA HANDY RATES ARE AROUND US$ 8000 - FEARNLEYS
Handy
Another positive trend was seen last week with more cargoes entering the market. Skaw-Passero/US Gulf climbed slowly up to USD 3700, while US ...
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- Ceylon Electricity Board - Sri Lanka
- Bahari Cakrawala Sebuku - Indonesia
- Electricity Generating Authority of Thailand
- Oldendorff Carriers - Singapore
- Indonesian Coal Mining Association
- Simpson Spence & Young - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- SN Aboitiz Power Inc, Philippines
- Larsen & Toubro Limited - India
- Antam Resourcindo - Indonesia
- Marubeni Corporation - India
- Coastal Gujarat Power Limited - India
- TeaM Sual Corporation - Philippines
- Tata Chemicals Ltd - India
- Carbofer General Trading SA - India
- Coalindo Energy - Indonesia
- Ambuja Cements Ltd - India
- Edison Trading Spa - Italy
- International Coal Ventures Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- Agrawal Coal Company - India
- Orica Mining Services - Indonesia
- Ind-Barath Power Infra Limited - India
- The State Trading Corporation of India Ltd
- Vijayanagar Sugar Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- Asmin Koalindo Tuhup - Indonesia
- Altura Mining Limited, Indonesia
- European Bulk Services B.V. - Netherlands
- Straits Asia Resources Limited - Singapore
- Indika Energy - Indonesia
- Posco Energy - South Korea
- Central Electricity Authority - India
- Vedanta Resources Plc - India
- Planning Commission, India
- Commonwealth Bank - Australia
- New Zealand Coal & Carbon
- Banpu Public Company Limited - Thailand
- Kumho Petrochemical, South Korea
- Alfred C Toepfer International GmbH - Germany
- Electricity Authority, New Zealand
- Meenaskhi Energy Private Limited - India
- Binh Thuan Hamico - Vietnam
- Energy Link Ltd, New Zealand
- Miang Besar Coal Terminal - Indonesia
- PowerSource Philippines DevCo
- Lanco Infratech Ltd - India
- Star Paper Mills Limited - India
- Energy Development Corp, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Gujarat Sidhee Cement - India
- India Bulls Power Limited - India
- GAC Shipping (India) Pvt Ltd
- MS Steel International - UAE
- Tamil Nadu electricity Board
- Attock Cement Pakistan Limited
- Global Business Power Corporation, Philippines
- Orica Australia Pty. Ltd.
- CIMB Investment Bank - Malaysia
- Bukit Asam (Persero) Tbk - Indonesia
- McConnell Dowell - Australia
- Directorate Of Revenue Intelligence - India
- Kohat Cement Company Ltd. - Pakistan
- SMC Global Power, Philippines
- Ministry of Finance - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Metalloyd Limited - United Kingdom
- Essar Steel Hazira Ltd - India
- Trasteel International SA, Italy
- TNB Fuel Sdn Bhd - Malaysia
- Coal and Oil Company - UAE
- Bayan Resources Tbk. - Indonesia
- Samtan Co., Ltd - South Korea
- Kalimantan Lumbung Energi - Indonesia
- Chettinad Cement Corporation Ltd - India
- ASAPP Information Group - India
- Merrill Lynch Commodities Europe
- IEA Clean Coal Centre - UK
- Mjunction Services Limited - India
- Manunggal Multi Energi - Indonesia
- Thiess Contractors Indonesia
- Bhushan Steel Limited - India
- IHS Mccloskey Coal Group - USA
- Port Waratah Coal Services - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Power Finance Corporation Ltd., India
- Singapore Mercantile Exchange
- Africa Commodities Group - South Africa
- Minerals Council of Australia
- Chamber of Mines of South Africa
- OPG Power Generation Pvt Ltd - India
- Rio Tinto Coal - Australia
- Cigading International Bulk Terminal - Indonesia
- GVK Power & Infra Limited - India
- Leighton Contractors Pty Ltd - Australia
- Malabar Cements Ltd - India
- Meralco Power Generation, Philippines
- Bhoruka Overseas - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- White Energy Company Limited
- LBH Netherlands Bv - Netherlands
- Pendopo Energi Batubara - Indonesia
- Kartika Selabumi Mining - Indonesia
- Mintek Dendrill Indonesia
- Thai Mozambique Logistica
- Deloitte Consulting - India
- SMG Consultants - Indonesia
- The University of Queensland
- Sakthi Sugars Limited - India
- Latin American Coal - Colombia
- Global Green Power PLC Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kobexindo Tractors - Indoneisa
- Dalmia Cement Bharat India
- Borneo Indobara - Indonesia
- Kideco Jaya Agung - Indonesia
- Wood Mackenzie - Singapore
- Global Coal Blending Company Limited - Australia
- Georgia Ports Authority, United States
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Salva Resources Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- Aboitiz Power Corporation - Philippines
- VISA Power Limited - India
- Eastern Energy - Thailand
- Makarim & Taira - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Vizag Seaport Private Limited - India
- Bukit Makmur.PT - Indonesia
- Standard Chartered Bank - UAE
- Gujarat Mineral Development Corp Ltd - India
- Anglo American - United Kingdom
- Grasim Industreis Ltd - India
- Formosa Plastics Group - Taiwan
- Interocean Group of Companies - India
- Sojitz Corporation - Japan
- Riau Bara Harum - Indonesia
- Wilmar Investment Holdings
- Maharashtra Electricity Regulatory Commission - India
- Indogreen Group - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Economic Council, Georgia
- Bhatia International Limited - India
- Iligan Light & Power Inc, Philippines
- Jaiprakash Power Ventures ltd
- Ministry of Mines - Canada
- Aditya Birla Group - India
- Independent Power Producers Association of India
- Billiton Holdings Pty Ltd - Australia
- Holcim Trading Pte Ltd - Singapore
- Sarangani Energy Corporation, Philippines
- Medco Energi Mining Internasional
- Petrochimia International Co. Ltd.- Taiwan
- Timah Investasi Mineral - Indoneisa
- Jorong Barutama Greston.PT - Indonesia
- Therma Luzon, Inc, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ministry of Transport, Egypt
- Bangladesh Power Developement Board
- Bukit Baiduri Energy - Indonesia
- Siam City Cement - Thailand
- Toyota Tsusho Corporation, Japan
- Kapuas Tunggal Persada - Indonesia
- PNOC Exploration Corporation - Philippines
- Indian Oil Corporation Limited
- Barasentosa Lestari - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Xindia Steels Limited - India
- Cement Manufacturers Association - India
- Globalindo Alam Lestari - Indonesia
- Heidelberg Cement - Germany
- Kepco SPC Power Corporation, Philippines
- Semirara Mining and Power Corporation, Philippines
- Videocon Industries ltd - India
- Price Waterhouse Coopers - Russia
- Romanian Commodities Exchange
- CNBM International Corporation - China
- PTC India Limited - India
- Baramulti Group, Indonesia
- Parliament of New Zealand
- Petron Corporation, Philippines
- Sical Logistics Limited - India
- The Treasury - Australian Government
- Bulk Trading Sa - Switzerland
- Offshore Bulk Terminal Pte Ltd, Singapore
- Karaikal Port Pvt Ltd - India
- Indian Energy Exchange, India
- Savvy Resources Ltd - HongKong
- Maheswari Brothers Coal Limited - India
- London Commodity Brokers - England
- Goldman Sachs - Singapore
- Mercuria Energy - Indonesia
- San Jose City I Power Corp, Philippines
- Australian Coal Association
- AsiaOL BioFuels Corp., Philippines
- Indo Tambangraya Megah - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Jindal Steel & Power Ltd - India
- Krishnapatnam Port Company Ltd. - India
- South Luzon Thermal Energy Corporation
- Neyveli Lignite Corporation Ltd, - India
- Madhucon Powers Ltd - India
- Central Java Power - Indonesia
- Renaissance Capital - South Africa
- Gujarat Electricity Regulatory Commission - India
- ICICI Bank Limited - India
- Kaltim Prima Coal - Indonesia
- Australian Commodity Traders Exchange
- Semirara Mining Corp, Philippines
- Siam City Cement PLC, Thailand
- Uttam Galva Steels Limited - India
- Bharathi Cement Corporation - India
- Parry Sugars Refinery, India
- GMR Energy Limited - India
- Eastern Coal Council - USA
- Mercator Lines Limited - India
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