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