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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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Thursday, 12 July 12
SOUTHGOBI RESOURCES ANNOUNCES NOTICE OF INVESTMENT DISPUTE FILED AGAINST MONGOLIAN GOVERNMENT
Press Release - SouthGobi Resources Ltd. (TSX: SGQ, HK: 1878) (“SouthGobi”) announced today that SGQ Coal Investment Pte. Ltd., a wholly ...
Wednesday, 11 July 12
HBA DROPPED SHARPLY IN JULY
COALspot.com - Indonesian HBA fell to lowest level since September 2010 in July 2012. The monthly coal reference price for coal sales this mon ...
Wednesday, 11 July 12
SUB-BIT FOB INDONESIA COAL SWAP LOST $ 1.26 PER TON
COALspot.com - Sub-Bit FOB Indonesia Coal decline for a second day yesterday, according to SGX AsiaClear OTC Coal Swaps. The prices for shipments to ...
Tuesday, 10 July 12
DRY BULK MARKET RECORDS MODEST GAINS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market inched a bit higher on Monday, with the Baltic Dry Index (BDI) ending the session up by 5 points to 1,162. Most markets were hig ...
Saturday, 07 July 12
INDONESIA-JAPAN RELATIONS TURN SOUR - THE JAKARTA POST
The Jakarta Post, the one of the leading Indonesian English new papers reported that, Bilateral relations between Indonesia and Japan have recently ...
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- Kohat Cement Company Ltd. - Pakistan
- Eastern Energy - Thailand
- White Energy Company Limited
- Petrochimia International Co. Ltd.- Taiwan
- Orica Mining Services - Indonesia
- Semirara Mining and Power Corporation, Philippines
- GVK Power & Infra Limited - India
- Straits Asia Resources Limited - Singapore
- MS Steel International - UAE
- Globalindo Alam Lestari - Indonesia
- Kaltim Prima Coal - Indonesia
- Coal and Oil Company - UAE
- Aboitiz Power Corporation - Philippines
- Star Paper Mills Limited - India
- Ambuja Cements Ltd - India
- Rio Tinto Coal - Australia
- Barasentosa Lestari - Indonesia
- Iligan Light & Power Inc, Philippines
- Salva Resources Pvt Ltd - India
- Wilmar Investment Holdings
- Rashtriya Ispat Nigam Limited - India
- Gujarat Sidhee Cement - India
- Jindal Steel & Power Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Madhucon Powers Ltd - India
- Tamil Nadu electricity Board
- Independent Power Producers Association of India
- Romanian Commodities Exchange
- Economic Council, Georgia
- Krishnapatnam Port Company Ltd. - India
- Kideco Jaya Agung - Indonesia
- Siam City Cement - Thailand
- Bukit Baiduri Energy - Indonesia
- GAC Shipping (India) Pvt Ltd
- Central Java Power - Indonesia
- SMC Global Power, Philippines
- Pendopo Energi Batubara - Indonesia
- PowerSource Philippines DevCo
- Jorong Barutama Greston.PT - Indonesia
- Africa Commodities Group - South Africa
- Cement Manufacturers Association - India
- Central Electricity Authority - India
- Commonwealth Bank - Australia
- South Luzon Thermal Energy Corporation
- Attock Cement Pakistan Limited
- Karaikal Port Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- Neyveli Lignite Corporation Ltd, - India
- Pipit Mutiara Jaya. PT, Indonesia
- Billiton Holdings Pty Ltd - Australia
- Latin American Coal - Colombia
- Anglo American - United Kingdom
- Bank of Tokyo Mitsubishi UFJ Ltd
- CIMB Investment Bank - Malaysia
- Maharashtra Electricity Regulatory Commission - India
- Wood Mackenzie - Singapore
- Meenaskhi Energy Private Limited - India
- Global Green Power PLC Corporation, Philippines
- Georgia Ports Authority, United States
- International Coal Ventures Pvt Ltd - India
- Heidelberg Cement - Germany
- Xindia Steels Limited - India
- Kartika Selabumi Mining - Indonesia
- Posco Energy - South Korea
- Indian Oil Corporation Limited
- AsiaOL BioFuels Corp., Philippines
- Indo Tambangraya Megah - Indonesia
- Energy Link Ltd, New Zealand
- Deloitte Consulting - India
- London Commodity Brokers - England
- ICICI Bank Limited - India
- Jaiprakash Power Ventures ltd
- Manunggal Multi Energi - Indonesia
- McConnell Dowell - Australia
- Sojitz Corporation - Japan
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Kobexindo Tractors - Indoneisa
- Electricity Authority, New Zealand
- CNBM International Corporation - China
- Renaissance Capital - South Africa
- Australian Commodity Traders Exchange
- The State Trading Corporation of India Ltd
- Bukit Makmur.PT - Indonesia
- IHS Mccloskey Coal Group - USA
- Bahari Cakrawala Sebuku - Indonesia
- Vizag Seaport Private Limited - India
- Siam City Cement PLC, Thailand
- San Jose City I Power Corp, Philippines
- Standard Chartered Bank - UAE
- GN Power Mariveles Coal Plant, Philippines
- Directorate Of Revenue Intelligence - India
- Meralco Power Generation, Philippines
- Sree Jayajothi Cements Limited - India
- Riau Bara Harum - Indonesia
- Toyota Tsusho Corporation, Japan
- Bulk Trading Sa - Switzerland
- Kalimantan Lumbung Energi - Indonesia
- Global Business Power Corporation, Philippines
- Videocon Industries ltd - India
- TeaM Sual Corporation - Philippines
- Edison Trading Spa - Italy
- Orica Australia Pty. Ltd.
- Eastern Coal Council - USA
- Oldendorff Carriers - Singapore
- PetroVietnam Power Coal Import and Supply Company
- Sarangani Energy Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Asmin Koalindo Tuhup - Indonesia
- Kepco SPC Power Corporation, Philippines
- Vedanta Resources Plc - India
- Coalindo Energy - Indonesia
- Indogreen Group - Indonesia
- Metalloyd Limited - United Kingdom
- Miang Besar Coal Terminal - Indonesia
- Simpson Spence & Young - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Binh Thuan Hamico - Vietnam
- Marubeni Corporation - India
- Singapore Mercantile Exchange
- Semirara Mining Corp, Philippines
- SN Aboitiz Power Inc, Philippines
- Samtan Co., Ltd - South Korea
- Thiess Contractors Indonesia
- India Bulls Power Limited - India
- Australian Coal Association
- TNB Fuel Sdn Bhd - Malaysia
- New Zealand Coal & Carbon
- PTC India Limited - India
- Minerals Council of Australia
- IEA Clean Coal Centre - UK
- Mercuria Energy - Indonesia
- GMR Energy Limited - India
- Formosa Plastics Group - Taiwan
- European Bulk Services B.V. - Netherlands
- Energy Development Corp, Philippines
- Indian Energy Exchange, India
- Coastal Gujarat Power Limited - India
- Baramulti Group, Indonesia
- Parliament of New Zealand
- Ceylon Electricity Board - Sri Lanka
- Timah Investasi Mineral - Indoneisa
- The University of Queensland
- Sinarmas Energy and Mining - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Port Waratah Coal Services - Australia
- Antam Resourcindo - Indonesia
- Ministry of Mines - Canada
- Lanco Infratech Ltd - India
- Borneo Indobara - Indonesia
- Medco Energi Mining Internasional
- Global Coal Blending Company Limited - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Goldman Sachs - Singapore
- Parry Sugars Refinery, India
- Altura Mining Limited, Indonesia
- Chettinad Cement Corporation Ltd - India
- Agrawal Coal Company - India
- Aditya Birla Group - India
- Price Waterhouse Coopers - Russia
- Sindya Power Generating Company Private Ltd
- Kumho Petrochemical, South Korea
- Mercator Lines Limited - India
- Uttam Galva Steels Limited - India
- Bhoruka Overseas - Indonesia
- ASAPP Information Group - India
- Trasteel International SA, Italy
- Grasim Industreis Ltd - India
- The Treasury - Australian Government
- Tata Chemicals Ltd - India
- Ind-Barath Power Infra Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- VISA Power Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bayan Resources Tbk. - Indonesia
- Larsen & Toubro Limited - India
- Bangladesh Power Developement Board
- Petron Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Essar Steel Hazira Ltd - India
- Planning Commission, India
- SMG Consultants - Indonesia
- OPG Power Generation Pvt Ltd - India
- Ministry of Finance - Indonesia
- Intertek Mineral Services - Indonesia
- Therma Luzon, Inc, Philippines
- Chamber of Mines of South Africa
- Carbofer General Trading SA - India
- Malabar Cements Ltd - India
- Maheswari Brothers Coal Limited - India
- Banpu Public Company Limited - Thailand
- Thai Mozambique Logistica
- LBH Netherlands Bv - Netherlands
- Vijayanagar Sugar Pvt Ltd - India
- Mjunction Services Limited - India
- Makarim & Taira - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Indika Energy - Indonesia
- Electricity Generating Authority of Thailand
- Merrill Lynch Commodities Europe
- Cigading International Bulk Terminal - Indonesia
- Mintek Dendrill Indonesia
- Sakthi Sugars Limited - India
- Dalmia Cement Bharat India
- Bhushan Steel Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Power Finance Corporation Ltd., India
- Bhatia International Limited - India
- Savvy Resources Ltd - HongKong
- Interocean Group of Companies - India
- Indonesian Coal Mining Association
- Sical Logistics Limited - India
- Bharathi Cement Corporation - India
- Leighton Contractors Pty Ltd - Australia
- Ministry of Transport, Egypt
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