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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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Tuesday, 03 July 12
DRY BULK MARKET INCHED FORWARD AT THE START OF THE WEEK - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market inched forward at the beginning of the new week, prior to the US holidays regarding the celebration of the 4th of July, which is ...
Monday, 02 July 12
ORPHEUS STRENGTHENS REVENUE STREAM WITH NEW ROYALTY AGREEMENT AT THE B2 COAL PROJECT
Orpheus Energy (ASX:OEG) is pleased to advise that it has executed a life of mine Royalty Agreement with Indonesian mining contractor PT Debbia Mini ...
Monday, 02 July 12
DRY BULK DEMAND TO RISE TO 3.6 BILLION TONNES IN 2012, BUT NEW BUILDING DELIVERIES ARE
In its latest analysis on the dry bulk market fundamentals, DVB Bank said that dry bulk cargo demand is forecast to rise to approximately 3.6 billio ...
Sunday, 01 July 12
AUSTRALIAS CARBON TAX - SUNIL K KUMBHAT
COALspot.com - Climate Change
Climate change and global warming have now become buzzwords the world over. The disastrous consequences for global ...
Sunday, 01 July 12
DSP OF SGX ASIACLEAR OTC COAL SWAP'S THIS WEEKS MOVEMENTS SLIGHTLY POSITIVE
COALspot.com - SGX AsiaClear OTC Coal Swaps have recovered slightly this week and Q4 deliveries are also showing positive direction.
SGX’s ...
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- Kalimantan Lumbung Energi - Indonesia
- Bukit Makmur.PT - Indonesia
- Mjunction Services Limited - India
- GAC Shipping (India) Pvt Ltd
- Wilmar Investment Holdings
- Heidelberg Cement - Germany
- Rashtriya Ispat Nigam Limited - India
- Renaissance Capital - South Africa
- Pipit Mutiara Jaya. PT, Indonesia
- Altura Mining Limited, Indonesia
- Karaikal Port Pvt Ltd - India
- Central Electricity Authority - India
- Maheswari Brothers Coal Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Central Java Power - Indonesia
- Larsen & Toubro Limited - India
- Parry Sugars Refinery, India
- Cement Manufacturers Association - India
- Port Waratah Coal Services - Australia
- Coal and Oil Company - UAE
- Ind-Barath Power Infra Limited - India
- Georgia Ports Authority, United States
- Siam City Cement - Thailand
- Mercator Lines Limited - India
- Kaltim Prima Coal - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Sindya Power Generating Company Private Ltd
- Neyveli Lignite Corporation Ltd, - India
- VISA Power Limited - India
- Samtan Co., Ltd - South Korea
- Kobexindo Tractors - Indoneisa
- OPG Power Generation Pvt Ltd - India
- Vedanta Resources Plc - India
- Antam Resourcindo - Indonesia
- Ambuja Cements Ltd - India
- ASAPP Information Group - India
- Makarim & Taira - Indonesia
- Kartika Selabumi Mining - Indonesia
- Bharathi Cement Corporation - India
- Mintek Dendrill Indonesia
- ICICI Bank Limited - India
- Posco Energy - South Korea
- Lanco Infratech Ltd - India
- White Energy Company Limited
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kohat Cement Company Ltd. - Pakistan
- Mercuria Energy - Indonesia
- Aditya Birla Group - India
- PowerSource Philippines DevCo
- Indian Energy Exchange, India
- AsiaOL BioFuels Corp., Philippines
- Energy Development Corp, Philippines
- PNOC Exploration Corporation - Philippines
- Xindia Steels Limited - India
- Intertek Mineral Services - Indonesia
- Parliament of New Zealand
- Oldendorff Carriers - Singapore
- Gujarat Mineral Development Corp Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Australian Commodity Traders Exchange
- Metalloyd Limited - United Kingdom
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- Australian Coal Association
- Bukit Baiduri Energy - Indonesia
- GMR Energy Limited - India
- Power Finance Corporation Ltd., India
- Wood Mackenzie - Singapore
- Indogreen Group - Indonesia
- Manunggal Multi Energi - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Asmin Koalindo Tuhup - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Formosa Plastics Group - Taiwan
- Indonesian Coal Mining Association
- TNB Fuel Sdn Bhd - Malaysia
- IEA Clean Coal Centre - UK
- Alfred C Toepfer International GmbH - Germany
- PetroVietnam Power Coal Import and Supply Company
- Meenaskhi Energy Private Limited - India
- Essar Steel Hazira Ltd - India
- Bhoruka Overseas - Indonesia
- Aboitiz Power Corporation - Philippines
- Ministry of Finance - Indonesia
- Simpson Spence & Young - Indonesia
- Kumho Petrochemical, South Korea
- Tata Chemicals Ltd - India
- Toyota Tsusho Corporation, Japan
- Directorate General of MIneral and Coal - Indonesia
- Global Coal Blending Company Limited - Australia
- European Bulk Services B.V. - Netherlands
- Jorong Barutama Greston.PT - Indonesia
- Kepco SPC Power Corporation, Philippines
- Medco Energi Mining Internasional
- Miang Besar Coal Terminal - Indonesia
- Goldman Sachs - Singapore
- Therma Luzon, Inc, Philippines
- The University of Queensland
- Madhucon Powers Ltd - India
- Salva Resources Pvt Ltd - India
- Thai Mozambique Logistica
- Energy Link Ltd, New Zealand
- Kapuas Tunggal Persada - Indonesia
- Latin American Coal - Colombia
- Economic Council, Georgia
- Standard Chartered Bank - UAE
- Bank of Tokyo Mitsubishi UFJ Ltd
- Billiton Holdings Pty Ltd - Australia
- Deloitte Consulting - India
- Globalindo Alam Lestari - Indonesia
- Straits Asia Resources Limited - Singapore
- The Treasury - Australian Government
- Malabar Cements Ltd - India
- Vizag Seaport Private Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Pendopo Energi Batubara - Indonesia
- Directorate Of Revenue Intelligence - India
- India Bulls Power Limited - India
- Sojitz Corporation - Japan
- Indian Oil Corporation Limited
- Chamber of Mines of South Africa
- Orica Mining Services - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Leighton Contractors Pty Ltd - Australia
- Edison Trading Spa - Italy
- Carbofer General Trading SA - India
- Semirara Mining Corp, Philippines
- Binh Thuan Hamico - Vietnam
- Ministry of Mines - Canada
- GVK Power & Infra Limited - India
- Savvy Resources Ltd - HongKong
- Independent Power Producers Association of India
- Price Waterhouse Coopers - Russia
- San Jose City I Power Corp, Philippines
- Indo Tambangraya Megah - Indonesia
- Indika Energy - Indonesia
- London Commodity Brokers - England
- Bhushan Steel Limited - India
- IHS Mccloskey Coal Group - USA
- Eastern Coal Council - USA
- Uttam Galva Steels Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Anglo American - United Kingdom
- Attock Cement Pakistan Limited
- International Coal Ventures Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Romanian Commodities Exchange
- Kideco Jaya Agung - Indonesia
- Tamil Nadu electricity Board
- Thiess Contractors Indonesia
- Eastern Energy - Thailand
- Sree Jayajothi Cements Limited - India
- Videocon Industries ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Banpu Public Company Limited - Thailand
- Africa Commodities Group - South Africa
- Bulk Trading Sa - Switzerland
- Bayan Resources Tbk. - Indonesia
- Jaiprakash Power Ventures ltd
- Holcim Trading Pte Ltd - Singapore
- Trasteel International SA, Italy
- GN Power Mariveles Coal Plant, Philippines
- Siam City Cement PLC, Thailand
- Gujarat Sidhee Cement - India
- Sical Logistics Limited - India
- Meralco Power Generation, Philippines
- SMG Consultants - Indonesia
- SN Aboitiz Power Inc, Philippines
- LBH Netherlands Bv - Netherlands
- Electricity Generating Authority of Thailand
- Orica Australia Pty. Ltd.
- McConnell Dowell - Australia
- Electricity Authority, New Zealand
- Bhatia International Limited - India
- Sakthi Sugars Limited - India
- Ceylon Electricity Board - Sri Lanka
- PTC India Limited - India
- Rio Tinto Coal - Australia
- Star Paper Mills Limited - India
- Marubeni Corporation - India
- Bangladesh Power Developement Board
- Planning Commission, India
- Semirara Mining and Power Corporation, Philippines
- Merrill Lynch Commodities Europe
- Coalindo Energy - Indonesia
- Ministry of Transport, Egypt
- Sarangani Energy Corporation, Philippines
- Singapore Mercantile Exchange
- Iligan Light & Power Inc, Philippines
- Agrawal Coal Company - India
- Coastal Gujarat Power Limited - India
- Karbindo Abesyapradhi - Indoneisa
- CNBM International Corporation - China
- New Zealand Coal & Carbon
- Interocean Group of Companies - India
- The State Trading Corporation of India Ltd
- South Luzon Thermal Energy Corporation
- TeaM Sual Corporation - Philippines
- Dalmia Cement Bharat India
- Timah Investasi Mineral - Indoneisa
- Baramulti Group, Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Grasim Industreis Ltd - India
- Chettinad Cement Corporation Ltd - India
- Commonwealth Bank - Australia
- Global Business Power Corporation, Philippines
- SMC Global Power, Philippines
- Petron Corporation, Philippines
- Minerals Council of Australia
- CIMB Investment Bank - Malaysia
- Barasentosa Lestari - Indonesia
- MS Steel International - UAE
- Riau Bara Harum - Indonesia
- Global Green Power PLC Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Borneo Indobara - Indonesia
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