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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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Tuesday, 14 August 12
SAKARI SIGNS HEADS OF AGREEMENT TO ACQUIRE SIX COAL CONCESSIONS IN INDONESIA
COALspot.com - Sakari has signed a Heads of Agreement (HOA) to acquire a 100% interest in up to six IUPs, covering an area of over 29,000 hectares, ...
Tuesday, 14 August 12
UNCERTAIN FUTURE FOR DRY BULK PANAMAX SHIPS - DREWRY / HELLENIC SHIPPING
The dry bulk shipping market is in a poor state, with the Capesize segment the worst of all. Unfortunately, the latest analysis from Drewry Maritime ...
Monday, 13 August 12
5TH VIETNAM PORTS AND LOGISTICS 2012
Press Release - Co-hosted by VINAMARINE, the 5th Vietnam Ports and Logistics2012 will feature dedicated sessions on port and transport infrastructur ...
Monday, 13 August 12
ACTIVE DRY BULK FLEET INCREASES BY 8% SO FAR IN 2012 IN TERMS OF TONNAGE CAPACITY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
It’s no wonder that the dry bulk market has been tethering since the start of the year. the overflow of tonnage has been so enormous, that eve ...
Sunday, 12 August 12
COAL FREIGHT RATES FALL FLAT TO SOFT ON OVERSUPPLY, WEAK DEMAND - VISTAAR SINGAPROE
COALspot.com - The BDI continued its fall 10th August.
This week all segments were down including BDI down by 9.15 pct closing at 774 points .The ...
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- Bukit Baiduri Energy - Indonesia
- GMR Energy Limited - India
- Coalindo Energy - Indonesia
- Standard Chartered Bank - UAE
- Commonwealth Bank - Australia
- Orica Australia Pty. Ltd.
- Wilmar Investment Holdings
- Economic Council, Georgia
- Kobexindo Tractors - Indoneisa
- Attock Cement Pakistan Limited
- ASAPP Information Group - India
- Rio Tinto Coal - Australia
- Georgia Ports Authority, United States
- Jaiprakash Power Ventures ltd
- PowerSource Philippines DevCo
- Semirara Mining Corp, Philippines
- Semirara Mining and Power Corporation, Philippines
- PTC India Limited - India
- India Bulls Power Limited - India
- Deloitte Consulting - India
- Bukit Makmur.PT - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Makarim & Taira - Indonesia
- IEA Clean Coal Centre - UK
- Siam City Cement PLC, Thailand
- Energy Link Ltd, New Zealand
- CIMB Investment Bank - Malaysia
- Minerals Council of Australia
- Oldendorff Carriers - Singapore
- Straits Asia Resources Limited - Singapore
- Ministry of Transport, Egypt
- Pipit Mutiara Jaya. PT, Indonesia
- The University of Queensland
- Coastal Gujarat Power Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Agrawal Coal Company - India
- Billiton Holdings Pty Ltd - Australia
- London Commodity Brokers - England
- Africa Commodities Group - South Africa
- Xindia Steels Limited - India
- Australian Coal Association
- Gujarat Sidhee Cement - India
- Sindya Power Generating Company Private Ltd
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Mjunction Services Limited - India
- South Luzon Thermal Energy Corporation
- Altura Mining Limited, Indonesia
- Bharathi Cement Corporation - India
- Indian Oil Corporation Limited
- Coal and Oil Company - UAE
- Kohat Cement Company Ltd. - Pakistan
- Kideco Jaya Agung - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Star Paper Mills Limited - India
- Timah Investasi Mineral - Indoneisa
- Bhushan Steel Limited - India
- Orica Mining Services - Indonesia
- Aditya Birla Group - India
- Intertek Mineral Services - Indonesia
- Meenaskhi Energy Private Limited - India
- Romanian Commodities Exchange
- Grasim Industreis Ltd - India
- Sojitz Corporation - Japan
- Interocean Group of Companies - India
- San Jose City I Power Corp, Philippines
- Siam City Cement - Thailand
- Kapuas Tunggal Persada - Indonesia
- Ambuja Cements Ltd - India
- GVK Power & Infra Limited - India
- Kepco SPC Power Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- CNBM International Corporation - China
- Jorong Barutama Greston.PT - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Marubeni Corporation - India
- Borneo Indobara - Indonesia
- Eastern Coal Council - USA
- Maharashtra Electricity Regulatory Commission - India
- Globalindo Alam Lestari - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Electricity Authority, New Zealand
- Central Java Power - Indonesia
- Jindal Steel & Power Ltd - India
- Central Electricity Authority - India
- Binh Thuan Hamico - Vietnam
- Pendopo Energi Batubara - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Parry Sugars Refinery, India
- ICICI Bank Limited - India
- Iligan Light & Power Inc, Philippines
- Thiess Contractors Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Power Finance Corporation Ltd., India
- Salva Resources Pvt Ltd - India
- Renaissance Capital - South Africa
- Karaikal Port Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Metalloyd Limited - United Kingdom
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Lanco Infratech Ltd - India
- Sree Jayajothi Cements Limited - India
- Ministry of Finance - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Indogreen Group - Indonesia
- Thai Mozambique Logistica
- SN Aboitiz Power Inc, Philippines
- Latin American Coal - Colombia
- Miang Besar Coal Terminal - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Directorate Of Revenue Intelligence - India
- Manunggal Multi Energi - Indonesia
- IHS Mccloskey Coal Group - USA
- International Coal Ventures Pvt Ltd - India
- Baramulti Group, Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Sical Logistics Limited - India
- Singapore Mercantile Exchange
- PNOC Exploration Corporation - Philippines
- Eastern Energy - Thailand
- Antam Resourcindo - Indonesia
- Bayan Resources Tbk. - Indonesia
- Maheswari Brothers Coal Limited - India
- White Energy Company Limited
- Price Waterhouse Coopers - Russia
- Parliament of New Zealand
- Directorate General of MIneral and Coal - Indonesia
- Samtan Co., Ltd - South Korea
- Wood Mackenzie - Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Planning Commission, India
- Toyota Tsusho Corporation, Japan
- GN Power Mariveles Coal Plant, Philippines
- VISA Power Limited - India
- Anglo American - United Kingdom
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kartika Selabumi Mining - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Uttam Galva Steels Limited - India
- Chettinad Cement Corporation Ltd - India
- Petron Corporation, Philippines
- McConnell Dowell - Australia
- Port Waratah Coal Services - Australia
- Savvy Resources Ltd - HongKong
- Posco Energy - South Korea
- Kaltim Prima Coal - Indonesia
- Malabar Cements Ltd - India
- Trasteel International SA, Italy
- Mercator Lines Limited - India
- Riau Bara Harum - Indonesia
- Madhucon Powers Ltd - India
- Carbofer General Trading SA - India
- MS Steel International - UAE
- Bhatia International Limited - India
- Australian Commodity Traders Exchange
- Barasentosa Lestari - Indonesia
- GAC Shipping (India) Pvt Ltd
- Rashtriya Ispat Nigam Limited - India
- Bulk Trading Sa - Switzerland
- Indika Energy - Indonesia
- Vedanta Resources Plc - India
- Tamil Nadu electricity Board
- Leighton Contractors Pty Ltd - Australia
- Merrill Lynch Commodities Europe
- Mercuria Energy - Indonesia
- Videocon Industries ltd - India
- Mintek Dendrill Indonesia
- TeaM Sual Corporation - Philippines
- SMG Consultants - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Holcim Trading Pte Ltd - Singapore
- European Bulk Services B.V. - Netherlands
- Indo Tambangraya Megah - Indonesia
- Dalmia Cement Bharat India
- Global Business Power Corporation, Philippines
- Electricity Generating Authority of Thailand
- Cigading International Bulk Terminal - Indonesia
- SMC Global Power, Philippines
- The Treasury - Australian Government
- Goldman Sachs - Singapore
- Ministry of Mines - Canada
- Edison Trading Spa - Italy
- Essar Steel Hazira Ltd - India
- Larsen & Toubro Limited - India
- Vizag Seaport Private Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- LBH Netherlands Bv - Netherlands
- Kumho Petrochemical, South Korea
- Therma Luzon, Inc, Philippines
- Bhoruka Overseas - Indonesia
- Medco Energi Mining Internasional
- OPG Power Generation Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- Bangladesh Power Developement Board
- Independent Power Producers Association of India
- Aboitiz Power Corporation - Philippines
- Indian Energy Exchange, India
- New Zealand Coal & Carbon
- Sakthi Sugars Limited - India
- Meralco Power Generation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Energy Development Corp, Philippines
- Indonesian Coal Mining Association
- Gujarat Electricity Regulatory Commission - India
- Alfred C Toepfer International GmbH - Germany
- Formosa Plastics Group - Taiwan
- The State Trading Corporation of India Ltd
- Global Green Power PLC Corporation, Philippines
- Heidelberg Cement - Germany
- Global Coal Blending Company Limited - Australia
- PetroVietnam Power Coal Import and Supply Company
- Chamber of Mines of South Africa
- Sarangani Energy Corporation, Philippines
- Cement Manufacturers Association - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Tata Chemicals Ltd - India
- Banpu Public Company Limited - Thailand
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