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