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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, 11 June 12
BAHANA FORECASTS THE COAL PRICES WILL FALL FURTHER
COALspot.com - Growing US coal supplies + low shipping costs = Asia as target.
According to Irwan Budiarto analyst at Bahana Securities, US ...
Monday, 11 June 12
ASIAN COAL TRADING COMMUNITY EMBRACES API 5 AND API 8
Press Release - The Asian coal trading community is embracing the API 5 and API 8 indexes for its swap contracts.
The API 5 index represents 5,50 ...
Sunday, 10 June 12
FREIGHT MARKET EXPECTED TO REMAIN WEAK FOR NEXT FEW WEEKS - VISTAAR
COALspot.com - The BDI continued to fall this week and down by 2.99 pct closing at 877 points.
The Cape index also was down by 5.78 pct closing a ...
Friday, 08 June 12
ESSAR ENERGY RECEIVES FINAL APPROVAL FOR INDONESIAN COAL BLOCK
COALspot.com - Essar Energy plc, the India-focused integrated energy company, today announced that it has received final ‘Pinjam Pakai’ ...
Friday, 08 June 12
MINISTER DENIES COAL EXPORT TAX PLAN, ENDORSES RESTRICTIONS - THE JAKARTA POST
The Jakarta post, one of the leading english news paper in Indonesia reported that, Energy and Mineral Resources Minister Jero Wacik has denied that ...
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- Altura Mining Limited, Indonesia
- Oldendorff Carriers - Singapore
- Coal and Oil Company - UAE
- Miang Besar Coal Terminal - Indonesia
- Jindal Steel & Power Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Mercator Lines Limited - India
- Parliament of New Zealand
- Larsen & Toubro Limited - India
- Sinarmas Energy and Mining - Indonesia
- IHS Mccloskey Coal Group - USA
- Offshore Bulk Terminal Pte Ltd, Singapore
- The Treasury - Australian Government
- Vijayanagar Sugar Pvt Ltd - India
- Malabar Cements Ltd - India
- PNOC Exploration Corporation - Philippines
- Mjunction Services Limited - India
- Billiton Holdings Pty Ltd - Australia
- Riau Bara Harum - Indonesia
- Electricity Authority, New Zealand
- Posco Energy - South Korea
- Indian Energy Exchange, India
- Alfred C Toepfer International GmbH - Germany
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Goldman Sachs - Singapore
- Borneo Indobara - Indonesia
- Africa Commodities Group - South Africa
- Savvy Resources Ltd - HongKong
- Kalimantan Lumbung Energi - Indonesia
- GMR Energy Limited - India
- Maheswari Brothers Coal Limited - India
- Edison Trading Spa - Italy
- Jorong Barutama Greston.PT - Indonesia
- Kartika Selabumi Mining - Indonesia
- The University of Queensland
- Bukit Asam (Persero) Tbk - Indonesia
- Electricity Generating Authority of Thailand
- Romanian Commodities Exchange
- Star Paper Mills Limited - India
- Commonwealth Bank - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Sindya Power Generating Company Private Ltd
- Lanco Infratech Ltd - India
- Dalmia Cement Bharat India
- Ministry of Mines - Canada
- Sarangani Energy Corporation, Philippines
- Standard Chartered Bank - UAE
- Kobexindo Tractors - Indoneisa
- Ministry of Transport, Egypt
- Cement Manufacturers Association - India
- Karbindo Abesyapradhi - Indoneisa
- Sakthi Sugars Limited - India
- Eastern Energy - Thailand
- Directorate Of Revenue Intelligence - India
- Renaissance Capital - South Africa
- PowerSource Philippines DevCo
- Global Coal Blending Company Limited - Australia
- Salva Resources Pvt Ltd - India
- Tata Chemicals Ltd - India
- PTC India Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Indian Oil Corporation Limited
- Videocon Industries ltd - India
- Coastal Gujarat Power Limited - India
- Heidelberg Cement - Germany
- Straits Asia Resources Limited - Singapore
- Bayan Resources Tbk. - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Ambuja Cements Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Grasim Industreis Ltd - India
- Agrawal Coal Company - India
- Uttam Galva Steels Limited - India
- Tamil Nadu electricity Board
- Holcim Trading Pte Ltd - Singapore
- TeaM Sual Corporation - Philippines
- Barasentosa Lestari - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Port Waratah Coal Services - Australia
- Manunggal Multi Energi - Indonesia
- Parry Sugars Refinery, India
- ASAPP Information Group - India
- Deloitte Consulting - India
- Rashtriya Ispat Nigam Limited - India
- Metalloyd Limited - United Kingdom
- Kumho Petrochemical, South Korea
- CIMB Investment Bank - Malaysia
- Gujarat Electricity Regulatory Commission - India
- Maharashtra Electricity Regulatory Commission - India
- Aditya Birla Group - India
- Wilmar Investment Holdings
- Ministry of Finance - Indonesia
- European Bulk Services B.V. - Netherlands
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- SMC Global Power, Philippines
- Aboitiz Power Corporation - Philippines
- Toyota Tsusho Corporation, Japan
- Medco Energi Mining Internasional
- Energy Link Ltd, New Zealand
- CNBM International Corporation - China
- South Luzon Thermal Energy Corporation
- Pendopo Energi Batubara - Indonesia
- Georgia Ports Authority, United States
- Makarim & Taira - Indonesia
- Meralco Power Generation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Australian Coal Association
- Bulk Trading Sa - Switzerland
- Wood Mackenzie - Singapore
- Asmin Koalindo Tuhup - Indonesia
- VISA Power Limited - India
- Siam City Cement PLC, Thailand
- Intertek Mineral Services - Indonesia
- Siam City Cement - Thailand
- Australian Commodity Traders Exchange
- San Jose City I Power Corp, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- SMG Consultants - Indonesia
- MS Steel International - UAE
- Anglo American - United Kingdom
- Independent Power Producers Association of India
- OPG Power Generation Pvt Ltd - India
- New Zealand Coal & Carbon
- Kohat Cement Company Ltd. - Pakistan
- The State Trading Corporation of India Ltd
- Indo Tambangraya Megah - Indonesia
- Ind-Barath Power Infra Limited - India
- Economic Council, Georgia
- LBH Netherlands Bv - Netherlands
- Bukit Baiduri Energy - Indonesia
- Simpson Spence & Young - Indonesia
- Bangladesh Power Developement Board
- Kaltim Prima Coal - Indonesia
- Bukit Makmur.PT - Indonesia
- Jaiprakash Power Ventures ltd
- Kepco SPC Power Corporation, Philippines
- Petron Corporation, Philippines
- Merrill Lynch Commodities Europe
- Xindia Steels Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Bharathi Cement Corporation - India
- Karaikal Port Pvt Ltd - India
- Vedanta Resources Plc - India
- Latin American Coal - Colombia
- Singapore Mercantile Exchange
- Rio Tinto Coal - Australia
- Gujarat Sidhee Cement - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Price Waterhouse Coopers - Russia
- Timah Investasi Mineral - Indoneisa
- Therma Luzon, Inc, Philippines
- Orica Mining Services - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Indonesian Coal Mining Association
- Antam Resourcindo - Indonesia
- Kideco Jaya Agung - Indonesia
- Eastern Coal Council - USA
- Vizag Seaport Private Limited - India
- McConnell Dowell - Australia
- Carbofer General Trading SA - India
- Samtan Co., Ltd - South Korea
- Interocean Group of Companies - India
- Mercuria Energy - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Sree Jayajothi Cements Limited - India
- Thai Mozambique Logistica
- Chettinad Cement Corporation Ltd - India
- London Commodity Brokers - England
- Bhatia International Limited - India
- Minerals Council of Australia
- Directorate General of MIneral and Coal - Indonesia
- Planning Commission, India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Attock Cement Pakistan Limited
- ICICI Bank Limited - India
- SN Aboitiz Power Inc, Philippines
- Trasteel International SA, Italy
- India Bulls Power Limited - India
- Sical Logistics Limited - India
- Madhucon Powers Ltd - India
- Bhoruka Overseas - Indonesia
- Global Business Power Corporation, Philippines
- Semirara Mining Corp, Philippines
- Banpu Public Company Limited - Thailand
- Coalindo Energy - Indonesia
- Binh Thuan Hamico - Vietnam
- Marubeni Corporation - India
- Power Finance Corporation Ltd., India
- Global Green Power PLC Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- Baramulti Group, Indonesia
- Ceylon Electricity Board - Sri Lanka
- Thiess Contractors Indonesia
- Iligan Light & Power Inc, Philippines
- GVK Power & Infra Limited - India
- Mintek Dendrill Indonesia
- Central Java Power - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Leighton Contractors Pty Ltd - Australia
- Central Electricity Authority - India
- Orica Australia Pty. Ltd.
- Meenaskhi Energy Private Limited - India
- Essar Steel Hazira Ltd - India
- IEA Clean Coal Centre - UK
- Bhushan Steel Limited - India
- Formosa Plastics Group - Taiwan
- International Coal Ventures Pvt Ltd - India
- Indika Energy - Indonesia
- White Energy Company Limited
- Energy Development Corp, Philippines
- GAC Shipping (India) Pvt Ltd
- Chamber of Mines of South Africa
- PetroVietnam Power Coal Import and Supply Company
- Sojitz Corporation - Japan
- Indogreen Group - Indonesia
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