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