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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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Monday, 25 June 12
RIO TINTO MAKES FIRST COAL SHIPMENT FROM MOZAMBIQUE
Rio Tinto has started exporting premium hard coking coal from its Benga Mine in the Moatize Basin in Mozambique. The first shipment of 34,000 tonnes ...
Sunday, 24 June 12
SUPRAMAX FREIGHT MARKET FIRMED UP FROM INDONESIA TO INDIA - VISTAAR
COALspot.com - This week all the segments gained and marked was firm in the Supramax and Handy size sector, where as the Cape and Panamax inde ...
Saturday, 23 June 12
COAL PRICES APPETITE FOR ROLLER-COASTER RIDES
COALspot.com - SGX AsiaClear OTC Coal Swaps have suffered something of a roller-coaster ride in terms of prices during this week. SGX’s Indone ...
Friday, 22 June 12
PRESENT SPOT WEAKNESS IS TEMPORARY, SEASONAL AND RISE AS WINTER APPROACHES - BUMI
COALspot.com - PT Bumi Resources Tbk, the world’s one of the largest coal producer and Indonesia’s largest multi grade coal miner has no ...
Friday, 22 June 12
GLOBAL ACTION NEEDED ON ENERGY POVERTY - WORLD COAL
Eradicating energy poverty is possibly the biggest challenge facing the world today. Like climate change it can only be addressed with a concerted g ...
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- Latin American Coal - Colombia
- Wilmar Investment Holdings
- Holcim Trading Pte Ltd - Singapore
- Eastern Energy - Thailand
- Therma Luzon, Inc, Philippines
- Ministry of Mines - Canada
- Thai Mozambique Logistica
- Bahari Cakrawala Sebuku - Indonesia
- Merrill Lynch Commodities Europe
- Romanian Commodities Exchange
- Videocon Industries ltd - India
- Karaikal Port Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- MS Steel International - UAE
- The State Trading Corporation of India Ltd
- Renaissance Capital - South Africa
- Bayan Resources Tbk. - Indonesia
- Bhushan Steel Limited - India
- Intertek Mineral Services - Indonesia
- India Bulls Power Limited - India
- Vedanta Resources Plc - India
- Sical Logistics Limited - India
- IHS Mccloskey Coal Group - USA
- Global Green Power PLC Corporation, Philippines
- Riau Bara Harum - Indonesia
- Indian Energy Exchange, India
- The University of Queensland
- Jindal Steel & Power Ltd - India
- Salva Resources Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- Marubeni Corporation - India
- Malabar Cements Ltd - India
- The Treasury - Australian Government
- Economic Council, Georgia
- Edison Trading Spa - Italy
- Uttam Galva Steels Limited - India
- Bukit Makmur.PT - Indonesia
- Tamil Nadu electricity Board
- International Coal Ventures Pvt Ltd - India
- Indian Oil Corporation Limited
- Kepco SPC Power Corporation, Philippines
- SMG Consultants - Indonesia
- Mercator Lines Limited - India
- Meralco Power Generation, Philippines
- Port Waratah Coal Services - Australia
- Siam City Cement - Thailand
- Essar Steel Hazira Ltd - India
- Indika Energy - Indonesia
- Sojitz Corporation - Japan
- CIMB Investment Bank - Malaysia
- Borneo Indobara - Indonesia
- Lanco Infratech Ltd - India
- Bharathi Cement Corporation - India
- Goldman Sachs - Singapore
- Trasteel International SA, Italy
- Minerals Council of Australia
- Mjunction Services Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Singapore Mercantile Exchange
- Coal and Oil Company - UAE
- Maharashtra Electricity Regulatory Commission - India
- Indogreen Group - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Electricity Generating Authority of Thailand
- Gujarat Electricity Regulatory Commission - India
- Barasentosa Lestari - Indonesia
- Antam Resourcindo - Indonesia
- Bhoruka Overseas - Indonesia
- Sakthi Sugars Limited - India
- Mintek Dendrill Indonesia
- Siam City Cement PLC, Thailand
- Directorate Of Revenue Intelligence - India
- GAC Shipping (India) Pvt Ltd
- Straits Asia Resources Limited - Singapore
- Dalmia Cement Bharat India
- Chamber of Mines of South Africa
- South Luzon Thermal Energy Corporation
- Kohat Cement Company Ltd. - Pakistan
- Altura Mining Limited, Indonesia
- Global Coal Blending Company Limited - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ceylon Electricity Board - Sri Lanka
- Parry Sugars Refinery, India
- IEA Clean Coal Centre - UK
- Bangladesh Power Developement Board
- Rio Tinto Coal - Australia
- Australian Coal Association
- Heidelberg Cement - Germany
- TNB Fuel Sdn Bhd - Malaysia
- Leighton Contractors Pty Ltd - Australia
- Cement Manufacturers Association - India
- Power Finance Corporation Ltd., India
- Timah Investasi Mineral - Indoneisa
- Orica Mining Services - Indonesia
- Sree Jayajothi Cements Limited - India
- Aboitiz Power Corporation - Philippines
- GVK Power & Infra Limited - India
- Central Java Power - Indonesia
- Kartika Selabumi Mining - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Cigading International Bulk Terminal - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Aditya Birla Group - India
- Vizag Seaport Private Limited - India
- Banpu Public Company Limited - Thailand
- Medco Energi Mining Internasional
- Parliament of New Zealand
- Electricity Authority, New Zealand
- Savvy Resources Ltd - HongKong
- Commonwealth Bank - Australia
- Agrawal Coal Company - India
- New Zealand Coal & Carbon
- Mercuria Energy - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Sarangani Energy Corporation, Philippines
- Semirara Mining and Power Corporation, Philippines
- Kumho Petrochemical, South Korea
- Manunggal Multi Energi - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Baramulti Group, Indonesia
- OPG Power Generation Pvt Ltd - India
- Tata Chemicals Ltd - India
- Metalloyd Limited - United Kingdom
- Australian Commodity Traders Exchange
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- CNBM International Corporation - China
- London Commodity Brokers - England
- Africa Commodities Group - South Africa
- Ministry of Transport, Egypt
- Global Business Power Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- GMR Energy Limited - India
- Attock Cement Pakistan Limited
- Madhucon Powers Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Anglo American - United Kingdom
- Alfred C Toepfer International GmbH - Germany
- Eastern Coal Council - USA
- San Jose City I Power Corp, Philippines
- Central Electricity Authority - India
- Ministry of Finance - Indonesia
- Price Waterhouse Coopers - Russia
- Indonesian Coal Mining Association
- Orica Australia Pty. Ltd.
- Star Paper Mills Limited - India
- ASAPP Information Group - India
- Standard Chartered Bank - UAE
- PTC India Limited - India
- Ind-Barath Power Infra Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Oldendorff Carriers - Singapore
- Binh Thuan Hamico - Vietnam
- Wood Mackenzie - Singapore
- Jaiprakash Power Ventures ltd
- Sinarmas Energy and Mining - Indonesia
- Sindya Power Generating Company Private Ltd
- Chettinad Cement Corporation Ltd - India
- Deloitte Consulting - India
- Pipit Mutiara Jaya. PT, Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Globalindo Alam Lestari - Indonesia
- Posco Energy - South Korea
- Kaltim Prima Coal - Indonesia
- Independent Power Producers Association of India
- Iligan Light & Power Inc, Philippines
- SN Aboitiz Power Inc, Philippines
- Gujarat Sidhee Cement - India
- Coalindo Energy - Indonesia
- Samtan Co., Ltd - South Korea
- White Energy Company Limited
- Directorate General of MIneral and Coal - Indonesia
- Energy Link Ltd, New Zealand
- AsiaOL BioFuels Corp., Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ambuja Cements Ltd - India
- TeaM Sual Corporation - Philippines
- PNOC Exploration Corporation - Philippines
- Petron Corporation, Philippines
- Bhatia International Limited - India
- Formosa Plastics Group - Taiwan
- Asmin Koalindo Tuhup - Indonesia
- PowerSource Philippines DevCo
- SMC Global Power, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Planning Commission, India
- LBH Netherlands Bv - Netherlands
- GN Power Mariveles Coal Plant, Philippines
- Indo Tambangraya Megah - Indonesia
- Xindia Steels Limited - India
- Toyota Tsusho Corporation, Japan
- McConnell Dowell - Australia
- Kapuas Tunggal Persada - Indonesia
- Pendopo Energi Batubara - Indonesia
- Energy Development Corp, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Semirara Mining Corp, Philippines
- Grasim Industreis Ltd - India
- Simpson Spence & Young - Indonesia
- ICICI Bank Limited - India
- Kideco Jaya Agung - Indonesia
- Coastal Gujarat Power Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- European Bulk Services B.V. - Netherlands
- Larsen & Toubro Limited - India
- VISA Power Limited - India
- Thiess Contractors Indonesia
- Interocean Group of Companies - India
- Georgia Ports Authority, United States
- Bukit Baiduri Energy - Indonesia
- Meenaskhi Energy Private Limited - India
- Bulk Trading Sa - Switzerland
- Petrochimia International Co. Ltd.- Taiwan
- Bank of Tokyo Mitsubishi UFJ Ltd
- Carbofer General Trading SA - India
- Makarim & Taira - Indonesia
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