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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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- Sakthi Sugars Limited - India
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- Kepco SPC Power Corporation, Philippines
- South Luzon Thermal Energy Corporation
- Riau Bara Harum - Indonesia
- Merrill Lynch Commodities Europe
- The University of Queensland
- Samtan Co., Ltd - South Korea
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ceylon Electricity Board - Sri Lanka
- Tamil Nadu electricity Board
- PTC India Limited - India
- Leighton Contractors Pty Ltd - Australia
- Maheswari Brothers Coal Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bharathi Cement Corporation - India
- Attock Cement Pakistan Limited
- Aboitiz Power Corporation - Philippines
- Essar Steel Hazira Ltd - India
- India Bulls Power Limited - India
- London Commodity Brokers - England
- Rio Tinto Coal - Australia
- Siam City Cement - Thailand
- Bulk Trading Sa - Switzerland
- Aditya Birla Group - India
- Coalindo Energy - Indonesia
- Kideco Jaya Agung - Indonesia
- Latin American Coal - Colombia
- Indo Tambangraya Megah - Indonesia
- Cement Manufacturers Association - India
- Minerals Council of Australia
- Sindya Power Generating Company Private Ltd
- Electricity Authority, New Zealand
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- Energy Development Corp, Philippines
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- Bahari Cakrawala Sebuku - Indonesia
- Meralco Power Generation, Philippines
- IHS Mccloskey Coal Group - USA
- Independent Power Producers Association of India
- IEA Clean Coal Centre - UK
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Antam Resourcindo - Indonesia
- Simpson Spence & Young - Indonesia
- Formosa Plastics Group - Taiwan
- Sojitz Corporation - Japan
- Orica Mining Services - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Mintek Dendrill Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Price Waterhouse Coopers - Russia
- Larsen & Toubro Limited - India
- Banpu Public Company Limited - Thailand
- Bukit Makmur.PT - Indonesia
- Borneo Indobara - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Gujarat Sidhee Cement - India
- Standard Chartered Bank - UAE
- SMC Global Power, Philippines
- Energy Link Ltd, New Zealand
- Economic Council, Georgia
- The Treasury - Australian Government
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- Videocon Industries ltd - India
- Kapuas Tunggal Persada - Indonesia
- Grasim Industreis Ltd - India
- Salva Resources Pvt Ltd - India
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- CIMB Investment Bank - Malaysia
- Intertek Mineral Services - Indonesia
- Wilmar Investment Holdings
- Bhatia International Limited - India
- Power Finance Corporation Ltd., India
- ASAPP Information Group - India
- Parry Sugars Refinery, India
- Pipit Mutiara Jaya. PT, Indonesia
- Africa Commodities Group - South Africa
- Coastal Gujarat Power Limited - India
- Pendopo Energi Batubara - Indonesia
- OPG Power Generation Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- Interocean Group of Companies - India
- ICICI Bank Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Directorate Of Revenue Intelligence - India
- Eastern Energy - Thailand
- Sinarmas Energy and Mining - Indonesia
- Eastern Coal Council - USA
- Straits Asia Resources Limited - Singapore
- Bangladesh Power Developement Board
- Semirara Mining and Power Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- Romanian Commodities Exchange
- Mjunction Services Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Georgia Ports Authority, United States
- Commonwealth Bank - Australia
- Planning Commission, India
- Kalimantan Lumbung Energi - Indonesia
- Central Electricity Authority - India
- Kumho Petrochemical, South Korea
- Iligan Light & Power Inc, Philippines
- San Jose City I Power Corp, Philippines
- Bhoruka Overseas - Indonesia
- Bukit Baiduri Energy - Indonesia
- Wood Mackenzie - Singapore
- Chettinad Cement Corporation Ltd - India
- Bhushan Steel Limited - India
- Anglo American - United Kingdom
- Kaltim Prima Coal - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Vizag Seaport Private Limited - India
- Metalloyd Limited - United Kingdom
- SN Aboitiz Power Inc, Philippines
- Makarim & Taira - Indonesia
- Meenaskhi Energy Private Limited - India
- Cigading International Bulk Terminal - Indonesia
- Indian Oil Corporation Limited
- Altura Mining Limited, Indonesia
- Singapore Mercantile Exchange
- Global Green Power PLC Corporation, Philippines
- Agrawal Coal Company - India
- Tata Chemicals Ltd - India
- International Coal Ventures Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Jindal Steel & Power Ltd - India
- Vedanta Resources Plc - India
- Gujarat Mineral Development Corp Ltd - India
- Parliament of New Zealand
- Star Paper Mills Limited - India
- Central Java Power - Indonesia
- Ministry of Finance - Indonesia
- Orica Australia Pty. Ltd.
- Goldman Sachs - Singapore
- Madhucon Powers Ltd - India
- Indian Energy Exchange, India
- Indogreen Group - Indonesia
- Malabar Cements Ltd - India
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- Holcim Trading Pte Ltd - Singapore
- Vijayanagar Sugar Pvt Ltd - India
- Dalmia Cement Bharat India
- Siam City Cement PLC, Thailand
- McConnell Dowell - Australia
- Sical Logistics Limited - India
- TeaM Sual Corporation - Philippines
- Miang Besar Coal Terminal - Indonesia
- European Bulk Services B.V. - Netherlands
- Petron Corporation, Philippines
- VISA Power Limited - India
- PowerSource Philippines DevCo
- Global Business Power Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- CNBM International Corporation - China
- Kartika Selabumi Mining - Indonesia
- Port Waratah Coal Services - Australia
- Barasentosa Lestari - Indonesia
- Thai Mozambique Logistica
- Medco Energi Mining Internasional
- Therma Luzon, Inc, Philippines
- Xindia Steels Limited - India
- Chamber of Mines of South Africa
- Ministry of Mines - Canada
- LBH Netherlands Bv - Netherlands
- Coal and Oil Company - UAE
- TNB Fuel Sdn Bhd - Malaysia
- Sarangani Energy Corporation, Philippines
- Ministry of Transport, Egypt
- Oldendorff Carriers - Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Neyveli Lignite Corporation Ltd, - India
- Semirara Mining Corp, Philippines
- GMR Energy Limited - India
- Mercuria Energy - Indonesia
- The State Trading Corporation of India Ltd
- New Zealand Coal & Carbon
- Kobexindo Tractors - Indoneisa
- Billiton Holdings Pty Ltd - Australia
- Heidelberg Cement - Germany
- Global Coal Blending Company Limited - Australia
- Lanco Infratech Ltd - India
- Baramulti Group, Indonesia
- MS Steel International - UAE
- White Energy Company Limited
- Edison Trading Spa - Italy
- Binh Thuan Hamico - Vietnam
- Asmin Koalindo Tuhup - Indonesia
- GAC Shipping (India) Pvt Ltd
- Trasteel International SA, Italy
- Jaiprakash Power Ventures ltd
- Electricity Generating Authority of Thailand
- Indonesian Coal Mining Association
- Sree Jayajothi Cements Limited - India
- Australian Commodity Traders Exchange
- Toyota Tsusho Corporation, Japan
- AsiaOL BioFuels Corp., Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bayan Resources Tbk. - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Kohat Cement Company Ltd. - Pakistan
- Ambuja Cements Ltd - India
- Australian Coal Association
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- Thiess Contractors Indonesia
- Posco Energy - South Korea
- Indika Energy - Indonesia
- Marubeni Corporation - India
- SMG Consultants - Indonesia
- Carbofer General Trading SA - India
- Uttam Galva Steels Limited - India
- Savvy Resources Ltd - HongKong
- Deloitte Consulting - India
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- Renaissance Capital - South Africa
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