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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, 07 July 12
EXCESS SUPPLY & WEAK DEMAND KEEP COAL PRICES LOW
COALspot.com - SGX AsiaClear OTC Coal Swaps for August and Q4 deliveries slipped slightly this week. SGX’s Indonesian sub-bituminous coal swap ...
Saturday, 07 July 12
BALTIC INDEX UP ON STRONG CAPE, PANAMAX RATES - VISTAAR
COALspot.com - This week all the segments were firmed up with BDI up by 15.23 pct (up by 153 points) closing at 1,157 points.
The cape index also ...
Saturday, 07 July 12
DRY BULK MARKET NOT ABLE TO FIND SOLID GROUND SAY EXPERTS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
With the second half of each, traditionally looking the most active one, especially in terms of newbuildings being delivered, it's highly unlikely ...
Thursday, 05 July 12
DRY BULK MARKET MOVES FURTHER UP THE HILL - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has kept its growth momentum by the middle of the week, as the BDI (Baltic Dry Index) rose by an additional 40 points to 1,103 p ...
Thursday, 05 July 12
BUMI ACHIEVES HIGHER SELLING PRICE IN FIRST QUARTER
COALspot.com - PT Bumi Resources Tbk (BUMI), Indonesia's largest coal producer and exporter, has successfully maintained a higher sales margin, des ...
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- IHS Mccloskey Coal Group - USA
- Ministry of Finance - Indonesia
- Coastal Gujarat Power Limited - India
- Australian Coal Association
- Meenaskhi Energy Private Limited - India
- Electricity Authority, New Zealand
- Agrawal Coal Company - India
- Orica Mining Services - Indonesia
- Energy Link Ltd, New Zealand
- Minerals Council of Australia
- Vizag Seaport Private Limited - India
- Port Waratah Coal Services - Australia
- Eastern Energy - Thailand
- Bukit Makmur.PT - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Latin American Coal - Colombia
- Interocean Group of Companies - India
- Barasentosa Lestari - Indonesia
- Kaltim Prima Coal - Indonesia
- Banpu Public Company Limited - Thailand
- Indonesian Coal Mining Association
- Timah Investasi Mineral - Indoneisa
- Billiton Holdings Pty Ltd - Australia
- Aboitiz Power Corporation - Philippines
- Eastern Coal Council - USA
- Dalmia Cement Bharat India
- White Energy Company Limited
- CNBM International Corporation - China
- Maharashtra Electricity Regulatory Commission - India
- South Luzon Thermal Energy Corporation
- Rio Tinto Coal - Australia
- Star Paper Mills Limited - India
- Vedanta Resources Plc - India
- Krishnapatnam Port Company Ltd. - India
- Indika Energy - Indonesia
- Bayan Resources Tbk. - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sakthi Sugars Limited - India
- Ambuja Cements Ltd - India
- Borneo Indobara - Indonesia
- Pendopo Energi Batubara - Indonesia
- Kideco Jaya Agung - Indonesia
- Trasteel International SA, Italy
- The University of Queensland
- Semirara Mining Corp, Philippines
- Kumho Petrochemical, South Korea
- Makarim & Taira - Indonesia
- Metalloyd Limited - United Kingdom
- TeaM Sual Corporation - Philippines
- International Coal Ventures Pvt Ltd - India
- Attock Cement Pakistan Limited
- MS Steel International - UAE
- Parliament of New Zealand
- Renaissance Capital - South Africa
- Planning Commission, India
- Madhucon Powers Ltd - India
- Wood Mackenzie - Singapore
- Rashtriya Ispat Nigam Limited - India
- Posco Energy - South Korea
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Georgia Ports Authority, United States
- Antam Resourcindo - Indonesia
- Ministry of Mines - Canada
- GAC Shipping (India) Pvt Ltd
- Bhatia International Limited - India
- Sindya Power Generating Company Private Ltd
- Global Coal Blending Company Limited - Australia
- Globalindo Alam Lestari - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- India Bulls Power Limited - India
- Sojitz Corporation - Japan
- Merrill Lynch Commodities Europe
- Indogreen Group - Indonesia
- Jaiprakash Power Ventures ltd
- Aditya Birla Group - India
- Central Electricity Authority - India
- Baramulti Group, Indonesia
- Price Waterhouse Coopers - Russia
- Marubeni Corporation - India
- Orica Australia Pty. Ltd.
- Wilmar Investment Holdings
- Indian Energy Exchange, India
- Altura Mining Limited, Indonesia
- ASAPP Information Group - India
- Uttam Galva Steels Limited - India
- Toyota Tsusho Corporation, Japan
- Heidelberg Cement - Germany
- Malabar Cements Ltd - India
- Thai Mozambique Logistica
- Chamber of Mines of South Africa
- Intertek Mineral Services - Indonesia
- The Treasury - Australian Government
- Gujarat Sidhee Cement - India
- Karbindo Abesyapradhi - Indoneisa
- Standard Chartered Bank - UAE
- Australian Commodity Traders Exchange
- New Zealand Coal & Carbon
- Formosa Plastics Group - Taiwan
- PowerSource Philippines DevCo
- SMG Consultants - Indonesia
- Ind-Barath Power Infra Limited - India
- Bhushan Steel Limited - India
- Commonwealth Bank - Australia
- Electricity Generating Authority of Thailand
- Straits Asia Resources Limited - Singapore
- Goldman Sachs - Singapore
- Bahari Cakrawala Sebuku - Indonesia
- IEA Clean Coal Centre - UK
- McConnell Dowell - Australia
- PetroVietnam Power Coal Import and Supply Company
- GN Power Mariveles Coal Plant, Philippines
- Oldendorff Carriers - Singapore
- GMR Energy Limited - India
- Alfred C Toepfer International GmbH - Germany
- Manunggal Multi Energi - Indonesia
- Thiess Contractors Indonesia
- Deloitte Consulting - India
- Lanco Infratech Ltd - India
- Karaikal Port Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- Carbofer General Trading SA - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Singapore Mercantile Exchange
- Bukit Baiduri Energy - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Riau Bara Harum - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Miang Besar Coal Terminal - Indonesia
- Tamil Nadu electricity Board
- Siam City Cement PLC, Thailand
- Kartika Selabumi Mining - Indonesia
- Africa Commodities Group - South Africa
- Asmin Koalindo Tuhup - Indonesia
- Grasim Industreis Ltd - India
- Mjunction Services Limited - India
- Coalindo Energy - Indonesia
- Global Green Power PLC Corporation, Philippines
- Bharathi Cement Corporation - India
- Salva Resources Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- PNOC Exploration Corporation - Philippines
- Essar Steel Hazira Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Bulk Trading Sa - Switzerland
- Videocon Industries ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ministry of Transport, Egypt
- PTC India Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Bhoruka Overseas - Indonesia
- Petron Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- Therma Luzon, Inc, Philippines
- Independent Power Producers Association of India
- Kepco SPC Power Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Cement Manufacturers Association - India
- Siam City Cement - Thailand
- Mintek Dendrill Indonesia
- Indian Oil Corporation Limited
- Medco Energi Mining Internasional
- Mercuria Energy - Indonesia
- SN Aboitiz Power Inc, Philippines
- Bangladesh Power Developement Board
- Bukit Asam (Persero) Tbk - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Tata Chemicals Ltd - India
- CIMB Investment Bank - Malaysia
- Kapuas Tunggal Persada - Indonesia
- Global Business Power Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- Mercator Lines Limited - India
- Parry Sugars Refinery, India
- Holcim Trading Pte Ltd - Singapore
- VISA Power Limited - India
- Xindia Steels Limited - India
- Gujarat Electricity Regulatory Commission - India
- Sical Logistics Limited - India
- Sarangani Energy Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- Chettinad Cement Corporation Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Economic Council, Georgia
- Cigading International Bulk Terminal - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- London Commodity Brokers - England
- The State Trading Corporation of India Ltd
- Iligan Light & Power Inc, Philippines
- Energy Development Corp, Philippines
- SMC Global Power, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Coal and Oil Company - UAE
- Romanian Commodities Exchange
- Meralco Power Generation, Philippines
- Central Java Power - Indonesia
- GVK Power & Infra Limited - India
- Larsen & Toubro Limited - India
- Ceylon Electricity Board - Sri Lanka
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- LBH Netherlands Bv - Netherlands
- Vijayanagar Sugar Pvt Ltd - India
- Edison Trading Spa - Italy
- Directorate Of Revenue Intelligence - India
- Maheswari Brothers Coal Limited - India
- Jindal Steel & Power Ltd - India
- ICICI Bank Limited - India
- Indo Tambangraya Megah - Indonesia
- San Jose City I Power Corp, Philippines
- Anglo American - United Kingdom
- Samtan Co., Ltd - South Korea
- Simpson Spence & Young - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Power Finance Corporation Ltd., India
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