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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, 28 July 12
CAL 2013 COAL SWAPS ARE HIGHER COMPARED TO SEPT 2012 PRICES
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) for September 2012 delivery gain 0.47 percent on Friday (27 July 2012) closing DoD but lost 0.90 ...
Friday, 27 July 12
PACIFIC MARKET REMAINED FLAT - FEARNLEYS AS
Handy
The Atlantic market continued its downward trend from last week with what appears to be a summer lull across the board. A trip from the USG t ...
Wednesday, 25 July 12
BUKIT ASAMS H1 REVENUE JUMPED BY 13 PERCENT
COALspot.com - PT Bukit Asam (Persero), Tbk., the state owned coal miner's revenue in H1 2012, has jumped 13 percent to IDR 5.79 trillion (approxim ...
Wednesday, 25 July 12
BUMI RESOURCES MINERALS SECURED PINJAM PAKAI FOR ITS ZINC AND LEAD PROJECT
COALspot.com - PT Bumi Resources Minerals Tbk. ("BRMS" or "the Company") today reported that its 80% owned subsidiary, PT Dairi ...
Tuesday, 24 July 12
SHIP OWNERS WAITING FOR SHIP PRICES TO FALL FURTHER BEFORE MOVING IN MORE AGGRESSIVELY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
With the summer season already well under way and many ship owners getting ready for the autumn, the sale & purchasing activity of second hand v ...
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- PTC India Limited - India
- Latin American Coal - Colombia
- Antam Resourcindo - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- Baramulti Group, Indonesia
- Singapore Mercantile Exchange
- Interocean Group of Companies - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Vizag Seaport Private Limited - India
- White Energy Company Limited
- Sical Logistics Limited - India
- Siam City Cement PLC, Thailand
- Posco Energy - South Korea
- IEA Clean Coal Centre - UK
- Ambuja Cements Ltd - India
- Africa Commodities Group - South Africa
- Indian Oil Corporation Limited
- Lanco Infratech Ltd - India
- Siam City Cement - Thailand
- Sindya Power Generating Company Private Ltd
- Meenaskhi Energy Private Limited - India
- Mercuria Energy - Indonesia
- Indo Tambangraya Megah - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Indika Energy - Indonesia
- SMC Global Power, Philippines
- Borneo Indobara - Indonesia
- SN Aboitiz Power Inc, Philippines
- Bhatia International Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Deloitte Consulting - India
- Oldendorff Carriers - Singapore
- Cement Manufacturers Association - India
- Grasim Industreis Ltd - India
- Heidelberg Cement - Germany
- Edison Trading Spa - Italy
- Commonwealth Bank - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bahari Cakrawala Sebuku - Indonesia
- Barasentosa Lestari - Indonesia
- Karaikal Port Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Xindia Steels Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Renaissance Capital - South Africa
- VISA Power Limited - India
- Thai Mozambique Logistica
- Electricity Generating Authority of Thailand
- Iligan Light & Power Inc, Philippines
- Directorate General of MIneral and Coal - Indonesia
- OPG Power Generation Pvt Ltd - India
- Eastern Coal Council - USA
- Thiess Contractors Indonesia
- Bulk Trading Sa - Switzerland
- Globalindo Alam Lestari - Indonesia
- Romanian Commodities Exchange
- Tamil Nadu electricity Board
- Australian Coal Association
- Parry Sugars Refinery, India
- Bukit Baiduri Energy - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Essar Steel Hazira Ltd - India
- Parliament of New Zealand
- Timah Investasi Mineral - Indoneisa
- Star Paper Mills Limited - India
- Standard Chartered Bank - UAE
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Coal and Oil Company - UAE
- Therma Luzon, Inc, Philippines
- PowerSource Philippines DevCo
- Marubeni Corporation - India
- Price Waterhouse Coopers - Russia
- Neyveli Lignite Corporation Ltd, - India
- Central Java Power - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Alfred C Toepfer International GmbH - Germany
- Vedanta Resources Plc - India
- Bharathi Cement Corporation - India
- MS Steel International - UAE
- Uttam Galva Steels Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Tata Chemicals Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Coalindo Energy - Indonesia
- Sojitz Corporation - Japan
- Indogreen Group - Indonesia
- Manunggal Multi Energi - Indonesia
- Carbofer General Trading SA - India
- Trasteel International SA, Italy
- Larsen & Toubro Limited - India
- Altura Mining Limited, Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- GN Power Mariveles Coal Plant, Philippines
- Semirara Mining Corp, Philippines
- Malabar Cements Ltd - India
- Pendopo Energi Batubara - Indonesia
- PNOC Exploration Corporation - Philippines
- Wilmar Investment Holdings
- Kalimantan Lumbung Energi - Indonesia
- Kideco Jaya Agung - Indonesia
- Indonesian Coal Mining Association
- Jaiprakash Power Ventures ltd
- Sakthi Sugars Limited - India
- CNBM International Corporation - China
- Karbindo Abesyapradhi - Indoneisa
- Aditya Birla Group - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Medco Energi Mining Internasional
- Krishnapatnam Port Company Ltd. - India
- San Jose City I Power Corp, Philippines
- Straits Asia Resources Limited - Singapore
- Port Waratah Coal Services - Australia
- Kumho Petrochemical, South Korea
- Ministry of Mines - Canada
- Makarim & Taira - Indonesia
- Jindal Steel & Power Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Meralco Power Generation, Philippines
- Salva Resources Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- Eastern Energy - Thailand
- Binh Thuan Hamico - Vietnam
- Global Coal Blending Company Limited - Australia
- AsiaOL BioFuels Corp., Philippines
- Savvy Resources Ltd - HongKong
- Bhoruka Overseas - Indonesia
- GMR Energy Limited - India
- International Coal Ventures Pvt Ltd - India
- Central Electricity Authority - India
- The Treasury - Australian Government
- Kaltim Prima Coal - Indonesia
- Bhushan Steel Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Videocon Industries ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ministry of Transport, Egypt
- TNB Fuel Sdn Bhd - Malaysia
- Sree Jayajothi Cements Limited - India
- Rashtriya Ispat Nigam Limited - India
- Minerals Council of Australia
- Holcim Trading Pte Ltd - Singapore
- Ceylon Electricity Board - Sri Lanka
- Maharashtra Electricity Regulatory Commission - India
- Orica Australia Pty. Ltd.
- South Luzon Thermal Energy Corporation
- Bayan Resources Tbk. - Indonesia
- Chamber of Mines of South Africa
- Bangladesh Power Developement Board
- Bukit Asam (Persero) Tbk - Indonesia
- Mintek Dendrill Indonesia
- Coastal Gujarat Power Limited - India
- ASAPP Information Group - India
- Australian Commodity Traders Exchange
- Madhucon Powers Ltd - India
- Chettinad Cement Corporation Ltd - India
- Global Business Power Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- Bukit Makmur.PT - Indonesia
- Indian Energy Exchange, India
- McConnell Dowell - Australia
- Banpu Public Company Limited - Thailand
- Planning Commission, India
- Metalloyd Limited - United Kingdom
- Energy Development Corp, Philippines
- IHS Mccloskey Coal Group - USA
- Maheswari Brothers Coal Limited - India
- Merrill Lynch Commodities Europe
- Kobexindo Tractors - Indoneisa
- Anglo American - United Kingdom
- London Commodity Brokers - England
- Attock Cement Pakistan Limited
- LBH Netherlands Bv - Netherlands
- Cigading International Bulk Terminal - Indonesia
- Toyota Tsusho Corporation, Japan
- Kapuas Tunggal Persada - Indonesia
- Petron Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- Samtan Co., Ltd - South Korea
- Goldman Sachs - Singapore
- India Bulls Power Limited - India
- Kepco SPC Power Corporation, Philippines
- Georgia Ports Authority, United States
- Kartika Selabumi Mining - Indonesia
- Rio Tinto Coal - Australia
- Sarangani Energy Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Agrawal Coal Company - India
- GAC Shipping (India) Pvt Ltd
- Economic Council, Georgia
- Aboitiz Power Corporation - Philippines
- TeaM Sual Corporation - Philippines
- Sinarmas Energy and Mining - Indonesia
- SMG Consultants - Indonesia
- Orica Mining Services - Indonesia
- Riau Bara Harum - Indonesia
- European Bulk Services B.V. - Netherlands
- CIMB Investment Bank - Malaysia
- Energy Link Ltd, New Zealand
- Gujarat Sidhee Cement - India
- Ministry of Finance - Indonesia
- The University of Queensland
- Mercator Lines Limited - India
- Dalmia Cement Bharat India
- Intertek Mineral Services - Indonesia
- New Zealand Coal & Carbon
- Power Finance Corporation Ltd., India
- ICICI Bank Limited - India
- Mjunction Services Limited - India
- Global Green Power PLC Corporation, Philippines
- Wood Mackenzie - Singapore
- Electricity Authority, New Zealand
- The State Trading Corporation of India Ltd
- Independent Power Producers Association of India
- GVK Power & Infra Limited - India
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