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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, 16 June 12
INDONESIAN SUB-BITUMINOUS COAL & CFR SOUTH CHINA COAL CONTRACT SWAPS ARE UNDER PRESSURE
COALspot.com - Indonesian sub-bituminous coal swaps and CFR South China coal contracts for July deliveries seems to be under pressure this week.&nbs ...
Friday, 15 June 12
CAPESIZE - THE LEVELS THAT DID FIX ARE DOWN W-O-W LEVELS - FEARNLEYS
Handy
Another slow-moving market with rates hovering at same level as last week. US Gulf positions fixed USD 25,000 for trips to Cont/Passero and S ...
Thursday, 14 June 12
SMALLER DRY BULK CARRIERS LIKELY TO FACE MORE CHALLENGES; DEMOLITION ACTIVITY SET FOR RECORD YEAR - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
In its latest update on the dry bulk markets, BIMCO said that China is partly “failing to deliver” on raw material imports that can affe ...
Wednesday, 13 June 12
LOW COAL PRICES COULD CHANGE SUPPLY SIDE DYNAMICS - FITCH RATINGS
Fitch Ratings believes that the weakness seen in thermal coal prices in recent months should reverse once demand from major importers recovers, alth ...
Tuesday, 12 June 12
ITACHA RESOURCES BUYS SARANA MARINE - INSIDER STORIES
Insider Stories reported that, coal mining company PT Itacha Resources, a joint venture between Anthoni Salim and Glenn Yusuf, announced that Itacha ...
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- White Energy Company Limited
- Global Coal Blending Company Limited - Australia
- Medco Energi Mining Internasional
- Indogreen Group - Indonesia
- Power Finance Corporation Ltd., India
- Bukit Makmur.PT - Indonesia
- Aditya Birla Group - India
- Kumho Petrochemical, South Korea
- Makarim & Taira - Indonesia
- Gujarat Sidhee Cement - India
- Standard Chartered Bank - UAE
- Ministry of Mines - Canada
- Lanco Infratech Ltd - India
- Australian Commodity Traders Exchange
- Heidelberg Cement - Germany
- Leighton Contractors Pty Ltd - Australia
- LBH Netherlands Bv - Netherlands
- Chamber of Mines of South Africa
- London Commodity Brokers - England
- Parry Sugars Refinery, India
- Eastern Coal Council - USA
- Posco Energy - South Korea
- Cement Manufacturers Association - India
- Ministry of Transport, Egypt
- Ceylon Electricity Board - Sri Lanka
- Ministry of Finance - Indonesia
- Central Java Power - Indonesia
- CIMB Investment Bank - Malaysia
- Indonesian Coal Mining Association
- McConnell Dowell - Australia
- Energy Development Corp, Philippines
- Mintek Dendrill Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Bulk Trading Sa - Switzerland
- Bhushan Steel Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Kideco Jaya Agung - Indonesia
- Antam Resourcindo - Indonesia
- PNOC Exploration Corporation - Philippines
- Africa Commodities Group - South Africa
- Petron Corporation, Philippines
- Bharathi Cement Corporation - India
- Global Green Power PLC Corporation, Philippines
- Mercator Lines Limited - India
- Indika Energy - Indonesia
- AsiaOL BioFuels Corp., Philippines
- India Bulls Power Limited - India
- Electricity Authority, New Zealand
- Gujarat Electricity Regulatory Commission - India
- Timah Investasi Mineral - Indoneisa
- Sical Logistics Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Sree Jayajothi Cements Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Central Electricity Authority - India
- Merrill Lynch Commodities Europe
- Xindia Steels Limited - India
- International Coal Ventures Pvt Ltd - India
- GMR Energy Limited - India
- Mjunction Services Limited - India
- Aboitiz Power Corporation - Philippines
- Indian Energy Exchange, India
- Miang Besar Coal Terminal - Indonesia
- GAC Shipping (India) Pvt Ltd
- Jorong Barutama Greston.PT - Indonesia
- Sinarmas Energy and Mining - Indonesia
- OPG Power Generation Pvt Ltd - India
- Altura Mining Limited, Indonesia
- Karaikal Port Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- CNBM International Corporation - China
- Malabar Cements Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Directorate Of Revenue Intelligence - India
- Ind-Barath Power Infra Limited - India
- The University of Queensland
- Salva Resources Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- The Treasury - Australian Government
- GVK Power & Infra Limited - India
- ICICI Bank Limited - India
- Price Waterhouse Coopers - Russia
- San Jose City I Power Corp, Philippines
- European Bulk Services B.V. - Netherlands
- Holcim Trading Pte Ltd - Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- PTC India Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Vizag Seaport Private Limited - India
- IEA Clean Coal Centre - UK
- Samtan Co., Ltd - South Korea
- Wood Mackenzie - Singapore
- SMC Global Power, Philippines
- Rashtriya Ispat Nigam Limited - India
- Rio Tinto Coal - Australia
- Riau Bara Harum - Indonesia
- Vedanta Resources Plc - India
- Kapuas Tunggal Persada - Indonesia
- Semirara Mining Corp, Philippines
- Economic Council, Georgia
- Iligan Light & Power Inc, Philippines
- Dalmia Cement Bharat India
- Chettinad Cement Corporation Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- MS Steel International - UAE
- South Luzon Thermal Energy Corporation
- Larsen & Toubro Limited - India
- Bhatia International Limited - India
- Grasim Industreis Ltd - India
- Sindya Power Generating Company Private Ltd
- New Zealand Coal & Carbon
- Sakthi Sugars Limited - India
- Meralco Power Generation, Philippines
- SN Aboitiz Power Inc, Philippines
- Renaissance Capital - South Africa
- Barasentosa Lestari - Indonesia
- Tata Chemicals Ltd - India
- Australian Coal Association
- Star Paper Mills Limited - India
- Siam City Cement PLC, Thailand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Metalloyd Limited - United Kingdom
- Sojitz Corporation - Japan
- Straits Asia Resources Limited - Singapore
- Interocean Group of Companies - India
- Bayan Resources Tbk. - Indonesia
- The State Trading Corporation of India Ltd
- Baramulti Group, Indonesia
- Therma Luzon, Inc, Philippines
- Kaltim Prima Coal - Indonesia
- Tamil Nadu electricity Board
- Madhucon Powers Ltd - India
- Romanian Commodities Exchange
- Energy Link Ltd, New Zealand
- Siam City Cement - Thailand
- Commonwealth Bank - Australia
- Neyveli Lignite Corporation Ltd, - India
- ASAPP Information Group - India
- Asmin Koalindo Tuhup - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Jaiprakash Power Ventures ltd
- Georgia Ports Authority, United States
- Billiton Holdings Pty Ltd - Australia
- Coal and Oil Company - UAE
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- VISA Power Limited - India
- Parliament of New Zealand
- Uttam Galva Steels Limited - India
- Krishnapatnam Port Company Ltd. - India
- Pendopo Energi Batubara - Indonesia
- Independent Power Producers Association of India
- Bukit Baiduri Energy - Indonesia
- Banpu Public Company Limited - Thailand
- Gujarat Mineral Development Corp Ltd - India
- Formosa Plastics Group - Taiwan
- Bhoruka Overseas - Indonesia
- Carbofer General Trading SA - India
- Bangladesh Power Developement Board
- Essar Steel Hazira Ltd - India
- Kepco SPC Power Corporation, Philippines
- Singapore Mercantile Exchange
- Electricity Generating Authority of Thailand
- IHS Mccloskey Coal Group - USA
- Semirara Mining and Power Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Bukit Asam (Persero) Tbk - Indonesia
- Intertek Mineral Services - Indonesia
- Minerals Council of Australia
- Edison Trading Spa - Italy
- Port Waratah Coal Services - Australia
- Attock Cement Pakistan Limited
- Coalindo Energy - Indonesia
- Thiess Contractors Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Orica Australia Pty. Ltd.
- Deloitte Consulting - India
- Borneo Indobara - Indonesia
- Sarangani Energy Corporation, Philippines
- PowerSource Philippines DevCo
- Planning Commission, India
- Eastern Energy - Thailand
- Meenaskhi Energy Private Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Manunggal Multi Energi - Indonesia
- Jindal Steel & Power Ltd - India
- Oldendorff Carriers - Singapore
- Wilmar Investment Holdings
- Marubeni Corporation - India
- Ambuja Cements Ltd - India
- Anglo American - United Kingdom
- Global Business Power Corporation, Philippines
- Indian Oil Corporation Limited
- Cigading International Bulk Terminal - Indonesia
- Thai Mozambique Logistica
- Agrawal Coal Company - India
- Goldman Sachs - Singapore
- Trasteel International SA, Italy
- SMG Consultants - Indonesia
- Binh Thuan Hamico - Vietnam
- Alfred C Toepfer International GmbH - Germany
- Offshore Bulk Terminal Pte Ltd, Singapore
- Orica Mining Services - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Toyota Tsusho Corporation, Japan
- Vijayanagar Sugar Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- Maheswari Brothers Coal Limited - India
- Videocon Industries ltd - India
- Mercuria Energy - Indonesia
- Latin American Coal - Colombia
- Globalindo Alam Lestari - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Coastal Gujarat Power Limited - India
- Kartika Selabumi Mining - Indonesia
- TeaM Sual Corporation - Philippines
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