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Thursday, 05 July 12
GOVT GETS READY FOR $1.8B SUIT - THE JAKARTA POST
 The Jakarta Post, one of the leading Indonesian English new papers reported that, several ministries and the Attorney General’s Office held a meeting at the Finance Ministry’s office in Jakarta on Wednesday to prepare the government’s response to the US$1.8 billion lawsuit filed by British mining company Churchill Mining.
“Today the team talked about preparations for the legal suit. We are learning about our strengths and weaknesses, and we are cross checking all available data that we have,” Deputy Energy and Mineral Resources Minister Rudi Rubiandini told reporters late on Wednesday, the paper further said.
He said that the government had established a team comprising senior officials representing the Energy and Mineral Resources Ministry, the Forestry Ministry, the Attorney General’s Office, the Finance Ministry, and the East Kutai administration as well as the Investment Coordinating Board (BKPM) to prepare the government’s response to Churchill’s litigation.
The team will report its work to President Susilo Bambang Yudho-yono on Friday.
Aside from Rudi, Wednesday’s meeting was also attended by Forestry Minister Zulkifli Hasan, Attorney General Basrief Arief, Finance Minister Agus Martowardojo and East Kutai Regent Isran Noor.
The London-listed company requested international arbitration after the Indonesian Supreme Court rejected its request to overturn the revocation of its local partner’s mining permits in East Kutai regency, East Kalimantan.
Churchill entered the country’s coal mining business after it acquired a 75 percent stake in the Ridlatama Group in 2008. The East Kutai administration revoked its partner’s mining permits in 2010 for allegedly engaging in illegal logging and operating under forged permits.
The permits covered coal mining in about 35,000 hectares that was formerly controlled by six local firms affiliated with the PT Nusantara Group, which was reported to have lost their mining rights in 2006 and 2007 due to a lack of activity.
Churchill estimates that the mining concessions hold 2.70 billion tons of coal with potential annual revenues of between $700 million and $1 billion for more than 20 years of operations.
The British company is reported to have sought $1.8 billion in compensation for the revocation of its mining permits. In its arbitration request, the company said the Indonesian government had breached its obligations under the UK-Indonesia Bilateral Investment Treaty.
Speaking to reporters after the meeting, Isran said that the permits were revoked because the company breached mining and forestry regulations.
He claimed Ridlatama had forged mining permits to operate on mining areas owned by Nusantara Group — a company linked to Prabowo Subianto, the founder of the Great Indonesia Movement (Gerindra) party and a chief of the Kopassus special forces unit under president Soeharto.
Isran denied rumors that the East Kutai administration had returned the mining areas to Nusantara after Churchill and its partner discovered huge coal deposits in the area.
“The mining areas belong to Nusantara and are now still owned by the company,” he said, adding that Ridlatama operated in the mining areas using forged permits. “There is a strong indication that the licensing documents that Ridlatama used are fake,” he said. With such strong legal arguments, he felt Churchill had little chance to win the case.
Meanwhile, Zulkifli also confirmed that the Forestry Ministry had strong evidence indicating that Ridlatama had operated in a forestry reserve in East Kutai without proper permits. He said that any mining company should obtain approval from his ministry to be able to operate in productive forest areas. “Ridlatama conducted mining activities and found huge coal deposits, but it operated without a permit,” he added.
Source: The Jakarta Post
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Saturday, 25 August 12
FREIGHT RATES ARE EXPECTED TO BE STEADY NEXT WEEK - VISTAAR
COALspot.com - This week the indices showed some signs of improvement will all the segments moving up except for the handy size.
The BDI was marg ...
Saturday, 25 August 12
INDONESIAN COAL SWAP REMAINS STABLE AT LOW LEVEL
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) for October 2012 delivery gain 0.804 percent W-o-W on Friday (24 August 2012) closing but lost 0. ...
Thursday, 23 August 12
INDONESIA-INDIA, LARGE ECO SUPRA FIXED AT USD 6K FOR DELIVERY SOUTH CHINA - FEARNLEYS AS
Handy
The market continued the same trend as last week, low activity and holidays in some countries.
Rate wise unchanged, with US Gulf/Continent ...
Thursday, 23 August 12
EGCO GROUP EXPANDS TOWARDS INTEGRATED ENERGY BUSINESS WITH INVESTMENT IN INDONESIAS COAL MINE
Electricity Generating Public Company Limited or EGCO Group, the Thailand’s first Independent Power Producer has continually invaded foreign m ...
Thursday, 23 August 12
EGCO GROUP ANNOUNCES 2 BILLION BAHT PROFITS IN Q2/2012
Successfully Establishes Integrated Energy Business and Strengthen Investments in ASEAN
Mr. Sahust Pratuknukul, President of Electri ...
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- PowerSource Philippines DevCo
- CNBM International Corporation - China
- Aditya Birla Group - India
- India Bulls Power Limited - India
- Ministry of Transport, Egypt
- Jaiprakash Power Ventures ltd
- SMG Consultants - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Coastal Gujarat Power Limited - India
- Oldendorff Carriers - Singapore
- Karbindo Abesyapradhi - Indoneisa
- Petrochimia International Co. Ltd.- Taiwan
- Manunggal Multi Energi - Indonesia
- Binh Thuan Hamico - Vietnam
- Kohat Cement Company Ltd. - Pakistan
- Vedanta Resources Plc - India
- Alfred C Toepfer International GmbH - Germany
- Bhatia International Limited - India
- Bhoruka Overseas - Indonesia
- Ministry of Mines - Canada
- McConnell Dowell - Australia
- Marubeni Corporation - India
- SMC Global Power, Philippines
- Bharathi Cement Corporation - India
- AsiaOL BioFuels Corp., Philippines
- Australian Commodity Traders Exchange
- Thai Mozambique Logistica
- Eastern Coal Council - USA
- Singapore Mercantile Exchange
- MS Steel International - UAE
- Sindya Power Generating Company Private Ltd
- Antam Resourcindo - Indonesia
- European Bulk Services B.V. - Netherlands
- Straits Asia Resources Limited - Singapore
- Goldman Sachs - Singapore
- Rashtriya Ispat Nigam Limited - India
- The State Trading Corporation of India Ltd
- Bukit Baiduri Energy - Indonesia
- ICICI Bank Limited - India
- Eastern Energy - Thailand
- Essar Steel Hazira Ltd - India
- Parliament of New Zealand
- Bhushan Steel Limited - India
- Bulk Trading Sa - Switzerland
- Renaissance Capital - South Africa
- Price Waterhouse Coopers - Russia
- GMR Energy Limited - India
- Indogreen Group - Indonesia
- Australian Coal Association
- Energy Link Ltd, New Zealand
- Power Finance Corporation Ltd., India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Petron Corporation, Philippines
- Gujarat Sidhee Cement - India
- Economic Council, Georgia
- Sical Logistics Limited - India
- Star Paper Mills Limited - India
- Indonesian Coal Mining Association
- Planning Commission, India
- Pipit Mutiara Jaya. PT, Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Medco Energi Mining Internasional
- Attock Cement Pakistan Limited
- Dalmia Cement Bharat India
- Thiess Contractors Indonesia
- Interocean Group of Companies - India
- Altura Mining Limited, Indonesia
- Borneo Indobara - Indonesia
- Orica Mining Services - Indonesia
- Videocon Industries ltd - India
- Mercator Lines Limited - India
- Energy Development Corp, Philippines
- South Luzon Thermal Energy Corporation
- Coal and Oil Company - UAE
- Meenaskhi Energy Private Limited - India
- Global Green Power PLC Corporation, Philippines
- Banpu Public Company Limited - Thailand
- Uttam Galva Steels Limited - India
- VISA Power Limited - India
- Malabar Cements Ltd - India
- Coalindo Energy - Indonesia
- Agrawal Coal Company - India
- Standard Chartered Bank - UAE
- Ind-Barath Power Infra Limited - India
- Metalloyd Limited - United Kingdom
- Electricity Generating Authority of Thailand
- The University of Queensland
- Aboitiz Power Corporation - Philippines
- Madhucon Powers Ltd - India
- Parry Sugars Refinery, India
- Indo Tambangraya Megah - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Heidelberg Cement - Germany
- Larsen & Toubro Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Carbofer General Trading SA - India
- International Coal Ventures Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Kideco Jaya Agung - Indonesia
- PTC India Limited - India
- Savvy Resources Ltd - HongKong
- Kaltim Prima Coal - Indonesia
- Jindal Steel & Power Ltd - India
- Ministry of Finance - Indonesia
- GAC Shipping (India) Pvt Ltd
- CIMB Investment Bank - Malaysia
- Vijayanagar Sugar Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Kumho Petrochemical, South Korea
- San Jose City I Power Corp, Philippines
- Chamber of Mines of South Africa
- Central Java Power - Indonesia
- Latin American Coal - Colombia
- Barasentosa Lestari - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Leighton Contractors Pty Ltd - Australia
- Maheswari Brothers Coal Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Mjunction Services Limited - India
- Global Coal Blending Company Limited - Australia
- Salva Resources Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- Directorate General of MIneral and Coal - Indonesia
- OPG Power Generation Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Makarim & Taira - Indonesia
- Miang Besar Coal Terminal - Indonesia
- The Treasury - Australian Government
- Tamil Nadu electricity Board
- SN Aboitiz Power Inc, Philippines
- Baramulti Group, Indonesia
- Xindia Steels Limited - India
- Wilmar Investment Holdings
- Gujarat Mineral Development Corp Ltd - India
- Indian Energy Exchange, India
- Grasim Industreis Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Jorong Barutama Greston.PT - Indonesia
- Samtan Co., Ltd - South Korea
- Edison Trading Spa - Italy
- Kepco SPC Power Corporation, Philippines
- Bangladesh Power Developement Board
- Independent Power Producers Association of India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Africa Commodities Group - South Africa
- Intertek Mineral Services - Indonesia
- Formosa Plastics Group - Taiwan
- Bayan Resources Tbk. - Indonesia
- Sakthi Sugars Limited - India
- Siam City Cement PLC, Thailand
- PNOC Exploration Corporation - Philippines
- Posco Energy - South Korea
- Toyota Tsusho Corporation, Japan
- Romanian Commodities Exchange
- Bahari Cakrawala Sebuku - Indonesia
- Mercuria Energy - Indonesia
- IEA Clean Coal Centre - UK
- Indika Energy - Indonesia
- White Energy Company Limited
- Directorate Of Revenue Intelligence - India
- Merrill Lynch Commodities Europe
- Simpson Spence & Young - Indonesia
- Deloitte Consulting - India
- Wood Mackenzie - Singapore
- Bukit Makmur.PT - Indonesia
- Orica Australia Pty. Ltd.
- Globalindo Alam Lestari - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Lanco Infratech Ltd - India
- Sinarmas Energy and Mining - Indonesia
- London Commodity Brokers - England
- Kartika Selabumi Mining - Indonesia
- Therma Luzon, Inc, Philippines
- Anglo American - United Kingdom
- Minerals Council of Australia
- Ambuja Cements Ltd - India
- ASAPP Information Group - India
- Karaikal Port Pvt Ltd - India
- Global Business Power Corporation, Philippines
- Indian Oil Corporation Limited
- Siam City Cement - Thailand
- Trasteel International SA, Italy
- Electricity Authority, New Zealand
- Semirara Mining Corp, Philippines
- Pendopo Energi Batubara - Indonesia
- Port Waratah Coal Services - Australia
- Cigading International Bulk Terminal - Indonesia
- Vizag Seaport Private Limited - India
- Timah Investasi Mineral - Indoneisa
- Krishnapatnam Port Company Ltd. - India
- Mintek Dendrill Indonesia
- Sojitz Corporation - Japan
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Gujarat Electricity Regulatory Commission - India
- TeaM Sual Corporation - Philippines
- Kobexindo Tractors - Indoneisa
- Holcim Trading Pte Ltd - Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Riau Bara Harum - Indonesia
- Tata Chemicals Ltd - India
- Iligan Light & Power Inc, Philippines
- Rio Tinto Coal - Australia
- Georgia Ports Authority, United States
- Bukit Asam (Persero) Tbk - Indonesia
- Meralco Power Generation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- Sarangani Energy Corporation, Philippines
- Central Electricity Authority - India
- New Zealand Coal & Carbon
- GVK Power & Infra Limited - India
- IHS Mccloskey Coal Group - USA
- LBH Netherlands Bv - Netherlands
- Commonwealth Bank - Australia
- Cement Manufacturers Association - India
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