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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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Friday, 22 June 12
COAL: THE BACKBONE OF MODERN ELECTRICITY - ECOAL
Coal has been described as the "forgotten fuel," perhaps because many aren't aware of the huge role it plays in powering the global econo ...
Thursday, 21 June 12
DRY BULK MARKET ON THE RISE AGAIN - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market was on the rise once again yesterday, with the Baltic Dry Index (BDI), the industry’s benchmark, rising by 18 points, or 1 ...
Wednesday, 20 June 12
BDI MOVING HIGHER, PANAMAX AND SUPRAMAX VESSELS STRONGER, CAPESIZE RATES NEAR TO HISTORICAL LOWS OF DECEMBER 2008 - MARIA BERTZELETOU, HELLENIC SHIPPING
The dry market seems to follow the dynamic of the previous week with the Baltic Dry Index showing daily increases since June 8th, but is still stand ...
Tuesday, 19 June 12
SMALLER DRY BULK CARRIERS LIFT UP MARKET, PANAMAXES SET TO FALL SAYS ANALYST - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Another rise for the dry bulk market was evident yesterday, as the industry’s benchmark, the BDI (Baltic Dry Index) was up for a ninth straigh ...
Sunday, 17 June 12
S7 & S8 ROUTES ARE LIKELY TO BE SOFT NEXT WEEK - VISTAAR
COALspot.com - The BDI gained some increase after continues fall for several weeks.
The BDI increased by 47 points (up by 5.36 pct) closing at 92 ...
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- India Bulls Power Limited - India
- Indika Energy - Indonesia
- Bhatia International Limited - India
- Australian Coal Association
- Australian Commodity Traders Exchange
- Chettinad Cement Corporation Ltd - India
- Manunggal Multi Energi - Indonesia
- Ministry of Finance - Indonesia
- Minerals Council of Australia
- Ambuja Cements Ltd - India
- Larsen & Toubro Limited - India
- Marubeni Corporation - India
- Neyveli Lignite Corporation Ltd, - India
- Commonwealth Bank - Australia
- Ceylon Electricity Board - Sri Lanka
- Miang Besar Coal Terminal - Indonesia
- PNOC Exploration Corporation - Philippines
- Kartika Selabumi Mining - Indonesia
- Tata Chemicals Ltd - India
- Latin American Coal - Colombia
- Gujarat Sidhee Cement - India
- Kumho Petrochemical, South Korea
- Chamber of Mines of South Africa
- Electricity Authority, New Zealand
- IEA Clean Coal Centre - UK
- Jindal Steel & Power Ltd - India
- Vedanta Resources Plc - India
- Maharashtra Electricity Regulatory Commission - India
- GMR Energy Limited - India
- Iligan Light & Power Inc, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Bulk Trading Sa - Switzerland
- Gujarat Mineral Development Corp Ltd - India
- Attock Cement Pakistan Limited
- Parliament of New Zealand
- ASAPP Information Group - India
- South Luzon Thermal Energy Corporation
- Thai Mozambique Logistica
- Global Green Power PLC Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- Thiess Contractors Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Singapore Mercantile Exchange
- Grasim Industreis Ltd - India
- LBH Netherlands Bv - Netherlands
- Samtan Co., Ltd - South Korea
- SMC Global Power, Philippines
- Billiton Holdings Pty Ltd - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Cement Manufacturers Association - India
- London Commodity Brokers - England
- Kohat Cement Company Ltd. - Pakistan
- The Treasury - Australian Government
- Orica Australia Pty. Ltd.
- PowerSource Philippines DevCo
- Rashtriya Ispat Nigam Limited - India
- Price Waterhouse Coopers - Russia
- Goldman Sachs - Singapore
- PTC India Limited - India
- Ministry of Mines - Canada
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Interocean Group of Companies - India
- PetroVietnam Power Coal Import and Supply Company
- Formosa Plastics Group - Taiwan
- Kobexindo Tractors - Indoneisa
- Economic Council, Georgia
- Mercator Lines Limited - India
- Bangladesh Power Developement Board
- Essar Steel Hazira Ltd - India
- Ind-Barath Power Infra Limited - India
- Global Business Power Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Deloitte Consulting - India
- Energy Development Corp, Philippines
- Kapuas Tunggal Persada - Indonesia
- San Jose City I Power Corp, Philippines
- Electricity Generating Authority of Thailand
- Bayan Resources Tbk. - Indonesia
- Aditya Birla Group - India
- Baramulti Group, Indonesia
- Barasentosa Lestari - Indonesia
- Coal and Oil Company - UAE
- Directorate Of Revenue Intelligence - India
- Petrochimia International Co. Ltd.- Taiwan
- Altura Mining Limited, Indonesia
- Mjunction Services Limited - India
- Parry Sugars Refinery, India
- Eastern Coal Council - USA
- Malabar Cements Ltd - India
- Meralco Power Generation, Philippines
- Bharathi Cement Corporation - India
- Agrawal Coal Company - India
- Toyota Tsusho Corporation, Japan
- Trasteel International SA, Italy
- Vizag Seaport Private Limited - India
- Oldendorff Carriers - Singapore
- GN Power Mariveles Coal Plant, Philippines
- Mercuria Energy - Indonesia
- Metalloyd Limited - United Kingdom
- Posco Energy - South Korea
- Bukit Makmur.PT - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Merrill Lynch Commodities Europe
- Simpson Spence & Young - Indonesia
- Banpu Public Company Limited - Thailand
- Jorong Barutama Greston.PT - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Wilmar Investment Holdings
- Central Java Power - Indonesia
- Indian Oil Corporation Limited
- Standard Chartered Bank - UAE
- Coalindo Energy - Indonesia
- Aboitiz Power Corporation - Philippines
- Intertek Mineral Services - Indonesia
- Kepco SPC Power Corporation, Philippines
- Energy Link Ltd, New Zealand
- Asmin Koalindo Tuhup - Indonesia
- Semirara Mining Corp, Philippines
- Gujarat Electricity Regulatory Commission - India
- Central Electricity Authority - India
- Cigading International Bulk Terminal - Indonesia
- Coastal Gujarat Power Limited - India
- Global Coal Blending Company Limited - Australia
- Kalimantan Lumbung Energi - Indonesia
- Petron Corporation, Philippines
- MS Steel International - UAE
- Sinarmas Energy and Mining - Indonesia
- Kaltim Prima Coal - Indonesia
- Georgia Ports Authority, United States
- Heidelberg Cement - Germany
- Rio Tinto Coal - Australia
- The University of Queensland
- The State Trading Corporation of India Ltd
- Videocon Industries ltd - India
- Sree Jayajothi Cements Limited - India
- Borneo Indobara - Indonesia
- Indian Energy Exchange, India
- CNBM International Corporation - China
- ICICI Bank Limited - India
- Medco Energi Mining Internasional
- Therma Luzon, Inc, Philippines
- Dalmia Cement Bharat India
- TeaM Sual Corporation - Philippines
- McConnell Dowell - Australia
- SMG Consultants - Indonesia
- Xindia Steels Limited - India
- Meenaskhi Energy Private Limited - India
- Port Waratah Coal Services - Australia
- Salva Resources Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Krishnapatnam Port Company Ltd. - India
- Africa Commodities Group - South Africa
- Vijayanagar Sugar Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Sarangani Energy Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- Ministry of Transport, Egypt
- Orica Mining Services - Indonesia
- Antam Resourcindo - Indonesia
- Binh Thuan Hamico - Vietnam
- Siam City Cement - Thailand
- CIMB Investment Bank - Malaysia
- OPG Power Generation Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Edison Trading Spa - Italy
- European Bulk Services B.V. - Netherlands
- GVK Power & Infra Limited - India
- Indonesian Coal Mining Association
- Maheswari Brothers Coal Limited - India
- Bhoruka Overseas - Indonesia
- Kideco Jaya Agung - Indonesia
- White Energy Company Limited
- Indogreen Group - Indonesia
- Power Finance Corporation Ltd., India
- Eastern Energy - Thailand
- Sindya Power Generating Company Private Ltd
- Romanian Commodities Exchange
- Carbofer General Trading SA - India
- Bhushan Steel Limited - India
- Anglo American - United Kingdom
- Tamil Nadu electricity Board
- Straits Asia Resources Limited - Singapore
- Mintek Dendrill Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Jaiprakash Power Ventures ltd
- Sakthi Sugars Limited - India
- Riau Bara Harum - Indonesia
- Semirara Mining and Power Corporation, Philippines
- VISA Power Limited - India
- Karaikal Port Pvt Ltd - India
- Independent Power Producers Association of India
- New Zealand Coal & Carbon
- Star Paper Mills Limited - India
- IHS Mccloskey Coal Group - USA
- International Coal Ventures Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Renaissance Capital - South Africa
- Sojitz Corporation - Japan
- Timah Investasi Mineral - Indoneisa
- Bukit Baiduri Energy - Indonesia
- Planning Commission, India
- Sical Logistics Limited - India
- Globalindo Alam Lestari - Indonesia
- Makarim & Taira - Indonesia
- Madhucon Powers Ltd - India
- Wood Mackenzie - Singapore
- Pendopo Energi Batubara - Indonesia
- Uttam Galva Steels Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Savvy Resources Ltd - HongKong
- Siam City Cement PLC, Thailand
- Lanco Infratech Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Indo Tambangraya Megah - Indonesia
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