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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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Friday, 03 August 12
INDIA - LIGHTS OUT! - SALVA
The Indian power sector hit global headlines this week for all the wrong reasons. Firstly, on Monday, over 350 million people lost power across nort ...
Thursday, 02 August 12
OIL & GAS COMPANIES TO MEET IN MYANMAR FOR UPDATES ON NEW ROUND OF BIDDING AND INVESTMENT POTENTIAL IN UPSTREAM OIL, GAS, AND POWER GENERATION
Press Release - 2nd MOGP Summit (Myanmar Oil, Gas & Power) will convene in Yangon from 3 – 6 September 2012, to unveil new round of biddin ...
Thursday, 02 August 12
DRY BULK MARKET RATES CONTINUE SLUMP AMID SLOWER DEMAND NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market kept on its downward path Wednesday, as the BDI (Baltic Dry Index) kept retreating to new lows. The index was down by 2.12 perce ...
Monday, 30 July 12
DRY BULK MARKET TO REMAIN UNDER PRESSURE FOR THE REST OF 2012 - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
In an interview with Hellenic Shipping News Worldwide, Mr. Yannis Pachoulis, President of the Hellenic Shipbrokers' Association, remains cautiously ...
Sunday, 29 July 12
FREIGHT MARKET MOMENTUM CONTINUES TO WEAK
COALspot.com - The freight market continued to soft this week with all the segments dropped and the BDI fell below 1,000 points and closed at 933 po ...
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- IEA Clean Coal Centre - UK
- Georgia Ports Authority, United States
- Kumho Petrochemical, South Korea
- Toyota Tsusho Corporation, Japan
- CIMB Investment Bank - Malaysia
- Therma Luzon, Inc, Philippines
- Simpson Spence & Young - Indonesia
- McConnell Dowell - Australia
- Gujarat Sidhee Cement - India
- Ind-Barath Power Infra Limited - India
- Bhoruka Overseas - Indonesia
- Deloitte Consulting - India
- PowerSource Philippines DevCo
- Antam Resourcindo - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Kapuas Tunggal Persada - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- White Energy Company Limited
- Trasteel International SA, Italy
- Parliament of New Zealand
- Intertek Mineral Services - Indonesia
- Savvy Resources Ltd - HongKong
- Kalimantan Lumbung Energi - Indonesia
- Commonwealth Bank - Australia
- Kepco SPC Power Corporation, Philippines
- Central Electricity Authority - India
- Indian Oil Corporation Limited
- Bank of Tokyo Mitsubishi UFJ Ltd
- Maheswari Brothers Coal Limited - India
- Oldendorff Carriers - Singapore
- Heidelberg Cement - Germany
- Indogreen Group - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Carbofer General Trading SA - India
- Holcim Trading Pte Ltd - Singapore
- Aditya Birla Group - India
- Globalindo Alam Lestari - Indonesia
- Formosa Plastics Group - Taiwan
- San Jose City I Power Corp, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Parry Sugars Refinery, India
- Global Business Power Corporation, Philippines
- Borneo Indobara - Indonesia
- Star Paper Mills Limited - India
- Manunggal Multi Energi - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Mintek Dendrill Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Salva Resources Pvt Ltd - India
- Bhatia International Limited - India
- Goldman Sachs - Singapore
- PNOC Exploration Corporation - Philippines
- Billiton Holdings Pty Ltd - Australia
- Ministry of Mines - Canada
- Indonesian Coal Mining Association
- Bukit Baiduri Energy - Indonesia
- Port Waratah Coal Services - Australia
- Cement Manufacturers Association - India
- European Bulk Services B.V. - Netherlands
- Energy Development Corp, Philippines
- Bangladesh Power Developement Board
- PTC India Limited - India
- Sarangani Energy Corporation, Philippines
- Siam City Cement - Thailand
- Bukit Asam (Persero) Tbk - Indonesia
- Larsen & Toubro Limited - India
- Bayan Resources Tbk. - Indonesia
- Posco Energy - South Korea
- Miang Besar Coal Terminal - Indonesia
- Planning Commission, India
- Makarim & Taira - Indonesia
- Lanco Infratech Ltd - India
- London Commodity Brokers - England
- Merrill Lynch Commodities Europe
- Malabar Cements Ltd - India
- Bulk Trading Sa - Switzerland
- Thai Mozambique Logistica
- Global Green Power PLC Corporation, Philippines
- Sical Logistics Limited - India
- Coalindo Energy - Indonesia
- Power Finance Corporation Ltd., India
- Kartika Selabumi Mining - Indonesia
- Vizag Seaport Private Limited - India
- Australian Coal Association
- VISA Power Limited - India
- OPG Power Generation Pvt Ltd - India
- Medco Energi Mining Internasional
- Bharathi Cement Corporation - India
- IHS Mccloskey Coal Group - USA
- SMC Global Power, Philippines
- Sojitz Corporation - Japan
- Bhushan Steel Limited - India
- Orica Mining Services - Indonesia
- Baramulti Group, Indonesia
- Grasim Industreis Ltd - India
- Coal and Oil Company - UAE
- Cigading International Bulk Terminal - Indonesia
- Vedanta Resources Plc - India
- Gujarat Mineral Development Corp Ltd - India
- Indian Energy Exchange, India
- Latin American Coal - Colombia
- Meralco Power Generation, Philippines
- The Treasury - Australian Government
- Petron Corporation, Philippines
- Standard Chartered Bank - UAE
- Wood Mackenzie - Singapore
- Jorong Barutama Greston.PT - Indonesia
- Mjunction Services Limited - India
- Alfred C Toepfer International GmbH - Germany
- CNBM International Corporation - China
- Eastern Energy - Thailand
- Jaiprakash Power Ventures ltd
- PetroVietnam Power Coal Import and Supply Company
- Kideco Jaya Agung - Indonesia
- Agrawal Coal Company - India
- Eastern Coal Council - USA
- Singapore Mercantile Exchange
- Meenaskhi Energy Private Limited - India
- Energy Link Ltd, New Zealand
- Videocon Industries ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- LBH Netherlands Bv - Netherlands
- Rio Tinto Coal - Australia
- Bahari Cakrawala Sebuku - Indonesia
- The State Trading Corporation of India Ltd
- Sindya Power Generating Company Private Ltd
- Wilmar Investment Holdings
- Sree Jayajothi Cements Limited - India
- SN Aboitiz Power Inc, Philippines
- Sinarmas Energy and Mining - Indonesia
- Indo Tambangraya Megah - Indonesia
- ICICI Bank Limited - India
- Semirara Mining and Power Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Renaissance Capital - South Africa
- Gujarat Electricity Regulatory Commission - India
- Asmin Koalindo Tuhup - Indonesia
- Africa Commodities Group - South Africa
- Coastal Gujarat Power Limited - India
- Mercator Lines Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sakthi Sugars Limited - India
- GMR Energy Limited - India
- Timah Investasi Mineral - Indoneisa
- Price Waterhouse Coopers - Russia
- New Zealand Coal & Carbon
- Neyveli Lignite Corporation Ltd, - India
- Metalloyd Limited - United Kingdom
- Australian Commodity Traders Exchange
- Economic Council, Georgia
- Essar Steel Hazira Ltd - India
- Electricity Authority, New Zealand
- Straits Asia Resources Limited - Singapore
- Romanian Commodities Exchange
- Xindia Steels Limited - India
- ASAPP Information Group - India
- Directorate Of Revenue Intelligence - India
- TeaM Sual Corporation - Philippines
- Orica Australia Pty. Ltd.
- Electricity Generating Authority of Thailand
- Tata Chemicals Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- GVK Power & Infra Limited - India
- Semirara Mining Corp, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Chamber of Mines of South Africa
- Anglo American - United Kingdom
- Chettinad Cement Corporation Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Directorate General of MIneral and Coal - Indonesia
- Binh Thuan Hamico - Vietnam
- Indika Energy - Indonesia
- GAC Shipping (India) Pvt Ltd
- Minerals Council of Australia
- Kobexindo Tractors - Indoneisa
- Karaikal Port Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Iligan Light & Power Inc, Philippines
- Pendopo Energi Batubara - Indonesia
- Siam City Cement PLC, Thailand
- South Luzon Thermal Energy Corporation
- MS Steel International - UAE
- Mercuria Energy - Indonesia
- Dalmia Cement Bharat India
- Krishnapatnam Port Company Ltd. - India
- Altura Mining Limited, Indonesia
- Samtan Co., Ltd - South Korea
- Global Coal Blending Company Limited - Australia
- Maharashtra Electricity Regulatory Commission - India
- Thiess Contractors Indonesia
- Riau Bara Harum - Indonesia
- Ministry of Finance - Indonesia
- Kaltim Prima Coal - Indonesia
- Interocean Group of Companies - India
- Attock Cement Pakistan Limited
- The University of Queensland
- AsiaOL BioFuels Corp., Philippines
- SMG Consultants - Indonesia
- Marubeni Corporation - India
- Jindal Steel & Power Ltd - India
- Independent Power Producers Association of India
- Ambuja Cements Ltd - India
- Banpu Public Company Limited - Thailand
- India Bulls Power Limited - India
- Uttam Galva Steels Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Tamil Nadu electricity Board
- International Coal Ventures Pvt Ltd - India
- Central Java Power - Indonesia
- Madhucon Powers Ltd - India
- Bukit Makmur.PT - Indonesia
- Edison Trading Spa - Italy
- Ministry of Transport, Egypt
- Aboitiz Power Corporation - Philippines
- Rashtriya Ispat Nigam Limited - India
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