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