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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, 30 June 12
THE FREIGHT RATES ARE EXPECTED TO BE STEADY TO FIRM NEXT WEEK - VISTAAR SINGAPORE
COALspot.com – The BDI was up by 2.66 pct (up by 26 points) closing at 1,004 points crossing the 1000 point barrier this week.
The c ...
Friday, 29 June 12
INDONESIAN PRODUCERS ARE PLANNING TO CUT PRODUCTION IF COAL PRICES FALL FURTHER
COALspot.com: Indonesia, the world largest multi grade coal exporter, shipped 31.54* million tons of coal in May 2012, compared to 31.86* mill ...
Friday, 29 June 12
DRY BULK SHIP OWNERS DOING THEIR MATHS BEFORE PLACING NEWBUILDING ORDERS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
With oversupply having plagued the dry bulk shipping fleet since the end of 2011, it’s become ever so evident that placing a newbuilding order ...
Thursday, 28 June 12
DRY BULK MARKET HIGHER ON CAPESIZE OPTIMISM - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market inched a bit higher yesterday, as the BDI (Baltic Dry Index) ended up by 0.71% to 988 points. Most ship types were up, with the ...
Wednesday, 27 June 12
DIRECTORATE GENERAL OF MINERAL AND COAL OF INDONESIA INTRODUCES ON-LINE SYSTEM FOR MINING PRODUCTS EXPORT APPROVAL
COALspot.com - Directorate General of Mineral and Coal of Indonesia has released "Clear and Clean" certificate for another 33 coal miners ...
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- IEA Clean Coal Centre - UK
- Mercuria Energy - Indonesia
- Dalmia Cement Bharat India
- Leighton Contractors Pty Ltd - Australia
- Central Java Power - Indonesia
- Romanian Commodities Exchange
- Rashtriya Ispat Nigam Limited - India
- Orica Mining Services - Indonesia
- Energy Link Ltd, New Zealand
- Xindia Steels Limited - India
- PTC India Limited - India
- Agrawal Coal Company - India
- Orica Australia Pty. Ltd.
- Sarangani Energy Corporation, Philippines
- Wood Mackenzie - Singapore
- Formosa Plastics Group - Taiwan
- Therma Luzon, Inc, Philippines
- Eastern Coal Council - USA
- VISA Power Limited - India
- Heidelberg Cement - Germany
- Power Finance Corporation Ltd., India
- Ministry of Mines - Canada
- Madhucon Powers Ltd - India
- London Commodity Brokers - England
- Central Electricity Authority - India
- Wilmar Investment Holdings
- Meenaskhi Energy Private Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Uttam Galva Steels Limited - India
- The Treasury - Australian Government
- Tata Chemicals Ltd - India
- Economic Council, Georgia
- CIMB Investment Bank - Malaysia
- OPG Power Generation Pvt Ltd - India
- Commonwealth Bank - Australia
- Intertek Mineral Services - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Eastern Energy - Thailand
- Global Business Power Corporation, Philippines
- Indika Energy - Indonesia
- Banpu Public Company Limited - Thailand
- Renaissance Capital - South Africa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ministry of Finance - Indonesia
- Parliament of New Zealand
- Coastal Gujarat Power Limited - India
- Vizag Seaport Private Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Semirara Mining Corp, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Directorate Of Revenue Intelligence - India
- Maharashtra Electricity Regulatory Commission - India
- Asmin Koalindo Tuhup - Indonesia
- Petron Corporation, Philippines
- Rio Tinto Coal - Australia
- Trasteel International SA, Italy
- Bangladesh Power Developement Board
- MS Steel International - UAE
- SN Aboitiz Power Inc, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Altura Mining Limited, Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kaltim Prima Coal - Indonesia
- Globalindo Alam Lestari - Indonesia
- Pendopo Energi Batubara - Indonesia
- Energy Development Corp, Philippines
- Baramulti Group, Indonesia
- International Coal Ventures Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- Bayan Resources Tbk. - Indonesia
- Marubeni Corporation - India
- Sakthi Sugars Limited - India
- Coalindo Energy - Indonesia
- Karaikal Port Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- Karbindo Abesyapradhi - Indoneisa
- Kohat Cement Company Ltd. - Pakistan
- GVK Power & Infra Limited - India
- Grasim Industreis Ltd - India
- India Bulls Power Limited - India
- Krishnapatnam Port Company Ltd. - India
- Pipit Mutiara Jaya. PT, Indonesia
- Lanco Infratech Ltd - India
- Sree Jayajothi Cements Limited - India
- Riau Bara Harum - Indonesia
- Electricity Authority, New Zealand
- AsiaOL BioFuels Corp., Philippines
- Barasentosa Lestari - Indonesia
- Videocon Industries ltd - India
- Jaiprakash Power Ventures ltd
- CNBM International Corporation - China
- Global Coal Blending Company Limited - Australia
- Planning Commission, India
- Sindya Power Generating Company Private Ltd
- ASAPP Information Group - India
- Miang Besar Coal Terminal - Indonesia
- Bhushan Steel Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Kumho Petrochemical, South Korea
- Africa Commodities Group - South Africa
- Anglo American - United Kingdom
- PetroVietnam Power Coal Import and Supply Company
- Neyveli Lignite Corporation Ltd, - India
- Billiton Holdings Pty Ltd - Australia
- Independent Power Producers Association of India
- Antam Resourcindo - Indonesia
- Siam City Cement PLC, Thailand
- Kepco SPC Power Corporation, Philippines
- Bhatia International Limited - India
- Parry Sugars Refinery, India
- Electricity Generating Authority of Thailand
- Toyota Tsusho Corporation, Japan
- Chamber of Mines of South Africa
- Sinarmas Energy and Mining - Indonesia
- Timah Investasi Mineral - Indoneisa
- Gujarat Sidhee Cement - India
- Gujarat Electricity Regulatory Commission - India
- Gujarat Mineral Development Corp Ltd - India
- Ministry of Transport, Egypt
- Thai Mozambique Logistica
- Posco Energy - South Korea
- GN Power Mariveles Coal Plant, Philippines
- Sical Logistics Limited - India
- Bhoruka Overseas - Indonesia
- The State Trading Corporation of India Ltd
- Georgia Ports Authority, United States
- Manunggal Multi Energi - Indonesia
- New Zealand Coal & Carbon
- Ceylon Electricity Board - Sri Lanka
- Chettinad Cement Corporation Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Edison Trading Spa - Italy
- The University of Queensland
- Indo Tambangraya Megah - Indonesia
- Port Waratah Coal Services - Australia
- Samtan Co., Ltd - South Korea
- Standard Chartered Bank - UAE
- Kalimantan Lumbung Energi - Indonesia
- Indian Energy Exchange, India
- Medco Energi Mining Internasional
- Coal and Oil Company - UAE
- Global Green Power PLC Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- White Energy Company Limited
- Essar Steel Hazira Ltd - India
- Metalloyd Limited - United Kingdom
- Bukit Baiduri Energy - Indonesia
- SMG Consultants - Indonesia
- SMC Global Power, Philippines
- Kideco Jaya Agung - Indonesia
- Indonesian Coal Mining Association
- Merrill Lynch Commodities Europe
- Aditya Birla Group - India
- Indian Oil Corporation Limited
- Australian Commodity Traders Exchange
- Binh Thuan Hamico - Vietnam
- Kobexindo Tractors - Indoneisa
- Petrochimia International Co. Ltd.- Taiwan
- San Jose City I Power Corp, Philippines
- Sojitz Corporation - Japan
- ICICI Bank Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Aboitiz Power Corporation - Philippines
- Ind-Barath Power Infra Limited - India
- Deloitte Consulting - India
- Goldman Sachs - Singapore
- Minerals Council of Australia
- Larsen & Toubro Limited - India
- Kartika Selabumi Mining - Indonesia
- Bulk Trading Sa - Switzerland
- PNOC Exploration Corporation - Philippines
- McConnell Dowell - Australia
- Price Waterhouse Coopers - Russia
- Mercator Lines Limited - India
- IHS Mccloskey Coal Group - USA
- Malabar Cements Ltd - India
- Latin American Coal - Colombia
- Carbofer General Trading SA - India
- Indogreen Group - Indonesia
- Savvy Resources Ltd - HongKong
- European Bulk Services B.V. - Netherlands
- Maheswari Brothers Coal Limited - India
- Borneo Indobara - Indonesia
- Mintek Dendrill Indonesia
- GAC Shipping (India) Pvt Ltd
- Holcim Trading Pte Ltd - Singapore
- Singapore Mercantile Exchange
- Thiess Contractors Indonesia
- GMR Energy Limited - India
- Makarim & Taira - Indonesia
- Iligan Light & Power Inc, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Meralco Power Generation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Simpson Spence & Young - Indonesia
- Tamil Nadu electricity Board
- Attock Cement Pakistan Limited
- Directorate General of MIneral and Coal - Indonesia
- Straits Asia Resources Limited - Singapore
- Australian Coal Association
- Mjunction Services Limited - India
- Oldendorff Carriers - Singapore
- Bharathi Cement Corporation - India
- Salva Resources Pvt Ltd - India
- PowerSource Philippines DevCo
- Vedanta Resources Plc - India
- Interocean Group of Companies - India
- Bukit Makmur.PT - Indonesia
- Star Paper Mills Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Ambuja Cements Ltd - India
- Cement Manufacturers Association - India
- Siam City Cement - Thailand
- Cigading International Bulk Terminal - Indonesia
- TeaM Sual Corporation - Philippines
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