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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, 11 August 12
INDONESIAN COAL REFERENCE PRICE HAS LOST 27.78 PERCENT YOY
COALspot.com - Indonesian HBA fell again in August.
The monthly coal reference price for coal sales this month fell 3.32 percent. HBA fell ...
Saturday, 11 August 12
SUB-BIT INDONESIA COAL SWAPS SEEN MOVING IN THE RIGHT DIRECTION
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) for September 2012 delivery gain 1.29 percent W-o-W on Friday (10 August 2012) closing but lost 1 ...
Friday, 10 August 12
DRY BULK MARKET DROWNING FROM TONNAGE OVERSUPPLY - HELLENIC SHIPPING
The dry bulk market has been overflowing with new building vessels, despite the fact that demand is more or less (and minus the seasonal factors) ri ...
Thursday, 09 August 12
3RD ANNUAL SHALE GAS
Press Release - With the North American shale gas boom, IBC’s 3rd Annual Shale Gas explores optimal strategies to monetize Asia’s domest ...
Wednesday, 08 August 12
EXPLOITASI AIMS TO RAISE RP 2.7T FOR ACQUISITION - THE JAKARTA POST
The Jakarta Post reported that, publicly listed coal miner PT Exploitasi Energi Indonesia (CNKO) is seeking to raise Rp 2.7 trillion (US$286.2 milli ...
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- PNOC Exploration Corporation - Philippines
- Sinarmas Energy and Mining - Indonesia
- Salva Resources Pvt Ltd - India
- Siam City Cement - Thailand
- GN Power Mariveles Coal Plant, Philippines
- LBH Netherlands Bv - Netherlands
- Posco Energy - South Korea
- Kohat Cement Company Ltd. - Pakistan
- GVK Power & Infra Limited - India
- Sree Jayajothi Cements Limited - India
- Attock Cement Pakistan Limited
- Indonesian Coal Mining Association
- Tamil Nadu electricity Board
- Australian Coal Association
- Eastern Energy - Thailand
- Asmin Koalindo Tuhup - Indonesia
- Coalindo Energy - Indonesia
- Rashtriya Ispat Nigam Limited - India
- CNBM International Corporation - China
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indian Energy Exchange, India
- Thai Mozambique Logistica
- Karbindo Abesyapradhi - Indoneisa
- Bhoruka Overseas - Indonesia
- Straits Asia Resources Limited - Singapore
- Central Java Power - Indonesia
- Maheswari Brothers Coal Limited - India
- Formosa Plastics Group - Taiwan
- Agrawal Coal Company - India
- Vizag Seaport Private Limited - India
- VISA Power Limited - India
- Barasentosa Lestari - Indonesia
- Bukit Makmur.PT - Indonesia
- Meralco Power Generation, Philippines
- Semirara Mining and Power Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Thiess Contractors Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Parry Sugars Refinery, India
- Bhatia International Limited - India
- Ministry of Mines - Canada
- Riau Bara Harum - Indonesia
- Oldendorff Carriers - Singapore
- Ind-Barath Power Infra Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Sindya Power Generating Company Private Ltd
- Africa Commodities Group - South Africa
- Uttam Galva Steels Limited - India
- Planning Commission, India
- Baramulti Group, Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Economic Council, Georgia
- Port Waratah Coal Services - Australia
- IHS Mccloskey Coal Group - USA
- Orica Australia Pty. Ltd.
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Central Electricity Authority - India
- Gujarat Sidhee Cement - India
- Interocean Group of Companies - India
- Grasim Industreis Ltd - India
- Bangladesh Power Developement Board
- Kalimantan Lumbung Energi - Indonesia
- Anglo American - United Kingdom
- Samtan Co., Ltd - South Korea
- India Bulls Power Limited - India
- Ministry of Transport, Egypt
- Bukit Asam (Persero) Tbk - Indonesia
- Holcim Trading Pte Ltd - Singapore
- The State Trading Corporation of India Ltd
- Alfred C Toepfer International GmbH - Germany
- Indian Oil Corporation Limited
- Price Waterhouse Coopers - Russia
- New Zealand Coal & Carbon
- Electricity Generating Authority of Thailand
- ASAPP Information Group - India
- AsiaOL BioFuels Corp., Philippines
- Sarangani Energy Corporation, Philippines
- MS Steel International - UAE
- Heidelberg Cement - Germany
- GAC Shipping (India) Pvt Ltd
- Iligan Light & Power Inc, Philippines
- Singapore Mercantile Exchange
- Neyveli Lignite Corporation Ltd, - India
- Minerals Council of Australia
- Independent Power Producers Association of India
- Simpson Spence & Young - Indonesia
- Carbofer General Trading SA - India
- Toyota Tsusho Corporation, Japan
- Bulk Trading Sa - Switzerland
- Cigading International Bulk Terminal - Indonesia
- Chettinad Cement Corporation Ltd - India
- Banpu Public Company Limited - Thailand
- GMR Energy Limited - India
- Coastal Gujarat Power Limited - India
- Orica Mining Services - Indonesia
- Kumho Petrochemical, South Korea
- Renaissance Capital - South Africa
- Cement Manufacturers Association - India
- Kideco Jaya Agung - Indonesia
- Directorate Of Revenue Intelligence - India
- Mercuria Energy - Indonesia
- The University of Queensland
- Xindia Steels Limited - India
- Ceylon Electricity Board - Sri Lanka
- White Energy Company Limited
- Intertek Mineral Services - Indonesia
- SN Aboitiz Power Inc, Philippines
- Mercator Lines Limited - India
- Sakthi Sugars Limited - India
- Sojitz Corporation - Japan
- Bayan Resources Tbk. - Indonesia
- Trasteel International SA, Italy
- Commonwealth Bank - Australia
- Mjunction Services Limited - India
- Energy Link Ltd, New Zealand
- Madhucon Powers Ltd - India
- Georgia Ports Authority, United States
- London Commodity Brokers - England
- Parliament of New Zealand
- Petron Corporation, Philippines
- Deloitte Consulting - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Electricity Authority, New Zealand
- ICICI Bank Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Tata Chemicals Ltd - India
- Malabar Cements Ltd - India
- Binh Thuan Hamico - Vietnam
- Altura Mining Limited, Indonesia
- Jindal Steel & Power Ltd - India
- Pendopo Energi Batubara - Indonesia
- Jaiprakash Power Ventures ltd
- PetroVietnam Power Coal Import and Supply Company
- Marubeni Corporation - India
- Power Finance Corporation Ltd., India
- Pipit Mutiara Jaya. PT, Indonesia
- Coal and Oil Company - UAE
- Gujarat Mineral Development Corp Ltd - India
- IEA Clean Coal Centre - UK
- Bahari Cakrawala Sebuku - Indonesia
- Indogreen Group - Indonesia
- Standard Chartered Bank - UAE
- Bharathi Cement Corporation - India
- Gujarat Electricity Regulatory Commission - India
- Essar Steel Hazira Ltd - India
- San Jose City I Power Corp, Philippines
- Indika Energy - Indonesia
- Sical Logistics Limited - India
- Kobexindo Tractors - Indoneisa
- International Coal Ventures Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- Aditya Birla Group - India
- Larsen & Toubro Limited - India
- Vedanta Resources Plc - India
- Global Coal Blending Company Limited - Australia
- Directorate General of MIneral and Coal - Indonesia
- Globalindo Alam Lestari - Indonesia
- Kaltim Prima Coal - Indonesia
- Ministry of Finance - Indonesia
- PowerSource Philippines DevCo
- Aboitiz Power Corporation - Philippines
- Indo Tambangraya Megah - Indonesia
- Borneo Indobara - Indonesia
- Wilmar Investment Holdings
- TNB Fuel Sdn Bhd - Malaysia
- Wood Mackenzie - Singapore
- Makarim & Taira - Indonesia
- Edison Trading Spa - Italy
- Kartika Selabumi Mining - Indonesia
- Global Green Power PLC Corporation, Philippines
- Mintek Dendrill Indonesia
- Star Paper Mills Limited - India
- Eastern Coal Council - USA
- Krishnapatnam Port Company Ltd. - India
- CIMB Investment Bank - Malaysia
- TeaM Sual Corporation - Philippines
- Kapuas Tunggal Persada - Indonesia
- Rio Tinto Coal - Australia
- Dalmia Cement Bharat India
- The Treasury - Australian Government
- Merrill Lynch Commodities Europe
- Timah Investasi Mineral - Indoneisa
- Videocon Industries ltd - India
- Lanco Infratech Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Bukit Baiduri Energy - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Romanian Commodities Exchange
- Meenaskhi Energy Private Limited - India
- Semirara Mining Corp, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Antam Resourcindo - Indonesia
- European Bulk Services B.V. - Netherlands
- Leighton Contractors Pty Ltd - Australia
- Chamber of Mines of South Africa
- McConnell Dowell - Australia
- SMC Global Power, Philippines
- South Luzon Thermal Energy Corporation
- Karaikal Port Pvt Ltd - India
- Bhushan Steel Limited - India
- SMG Consultants - Indonesia
- Savvy Resources Ltd - HongKong
- PTC India Limited - India
- Australian Commodity Traders Exchange
- Manunggal Multi Energi - Indonesia
- Latin American Coal - Colombia
- Siam City Cement PLC, Thailand
- Therma Luzon, Inc, Philippines
- Kepco SPC Power Corporation, Philippines
- Global Business Power Corporation, Philippines
- Goldman Sachs - Singapore
- Ambuja Cements Ltd - India
- Energy Development Corp, Philippines
- Medco Energi Mining Internasional
- OPG Power Generation Pvt Ltd - India
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