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