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Monday, 28 December 09
INDONESIAN MINER LINKED TO FUGITIVE FINANCIER
 The Energy Ministry is unlikely to approve the transfer of ownership of coal miner PT Riau Baraharum on allegations it is indirectly owned by fugitive Agus Anwar, who was charged with misusing bailout funds his banks received during the 1997-98 Asian financial crisis.
“We are still evaluating the company’s proposal for changing its shareholder structure and management,” Bambang Setiawan, the ministry’s director general of minerals, coal and geothermal energy, told the Jakarta Globe on Sunday.
Agus, the owner of PT Bank Pelita and PT Instimarat, fled to avoid repaying $47.3 million in rescue funds to the Indonesian Bank Restructuring Agency.
A document received by the Jakarta Globe shows the Attorney General’s Office asked the Energy Ministry not to approve any shifting of the Pekanbaru-based Riau Baraharum’s assets. Although the document was sent from an unknown source, Bambang confirmed the accuracy of the letter.
According to the document, Agus is a major shareholder of Singapore-based company Shining Hope. The acknowledged owner of the miner is the Barki family, but Shining Hope’s reported use of Riau Baraharum as collateral for a debt issue throws this in doubt.
Early in March, the Corruption Eradication Commission asked the Finance Ministry to seize the miner’s assets should any evidence materialize that Agus held a stake in the company.
Bambang said Riau Baraharum had submitted a proposal for a new ownership structure, including Shining Hope, in February.
However, he said the AGO had already made a recommendation against the move in November 2008, effectively halting the process before it began.
Bambang said his office sent a letter to Riau Baraharum on Aug. 28 in which the proposal to change ownership was denied. “We recognize only the Barki family as owning Riau Baraharum.”
In response to speculation that the miner had already changed hands, Bambang reiterated that the Barki family controlled the miner and that the government would not pull its mining license based on rumors.
“There are no problems with the Barki family, so we will not take any action, including termination of its mining license,” he said.
Source: The Jakarta Globe
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Sunday, 03 January 10
BHP TO STAY IN MARUWAI AND TO KEEP 75 PERCENT OF THE STAKE
Despite recent statements that it would pull out completely from Indonesia, the world's largest mining company BHP Billiton has now admitted that i ...
Saturday, 02 January 10
INDONESIAS COAL OUTPUT RISES BY 5%
Indonesia, Asia’s largest coal exporter, produced 254 million tons of coal in 2009, a 5.8 percent increase from 2008 and well ahead of the gov ...
Saturday, 02 January 10
TAIPOWER FORECASTS COAL DEMAND TO SNAP DECLINE
Taiwan Power Co., Asia's biggest importer of thermal coal, expects its demand for the fuel to rise in 2010 after falling for two years as the islan ...
Friday, 01 January 10
COAL INDIA TO START IMPORTING DIRECTLY
According to sources, the coal major has already finalised tender document to import four million tonnes thermal grade coal for supplies to NTPC. Th ...
Thursday, 31 December 09
INDONESIA SEES 2010 MINING INVESTMENT UP 39 PCT
Reuters reported that, Indonesian mining investment is expected to hit $2.5 billion next year, up from $1.81 billion in 2009, supported by greater c ...
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- Power Finance Corporation Ltd., India
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- SMC Global Power, Philippines
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- Deloitte Consulting - India
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- Tata Chemicals Ltd - India
- Grasim Industreis Ltd - India
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- Indogreen Group - Indonesia
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- Makarim & Taira - Indonesia
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- Energy Development Corp, Philippines
- Semirara Mining Corp, Philippines
- Billiton Holdings Pty Ltd - Australia
- Singapore Mercantile Exchange
- Global Coal Blending Company Limited - Australia
- Orica Mining Services - Indonesia
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- Metalloyd Limited - United Kingdom
- Standard Chartered Bank - UAE
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- Global Green Power PLC Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- International Coal Ventures Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- Riau Bara Harum - Indonesia
- Kobexindo Tractors - Indoneisa
- Goldman Sachs - Singapore
- Indika Energy - Indonesia
- Bhushan Steel Limited - India
- Sical Logistics Limited - India
- Coastal Gujarat Power Limited - India
- Star Paper Mills Limited - India
- IHS Mccloskey Coal Group - USA
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- Agrawal Coal Company - India
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- Kalimantan Lumbung Energi - Indonesia
- OPG Power Generation Pvt Ltd - India
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- Price Waterhouse Coopers - Russia
- AsiaOL BioFuels Corp., Philippines
- White Energy Company Limited
- Georgia Ports Authority, United States
- Leighton Contractors Pty Ltd - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Eastern Coal Council - USA
- Siam City Cement - Thailand
- Bangladesh Power Developement Board
- Australian Commodity Traders Exchange
- Commonwealth Bank - Australia
- Vizag Seaport Private Limited - India
- Heidelberg Cement - Germany
- The University of Queensland
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- TeaM Sual Corporation - Philippines
- London Commodity Brokers - England
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- GMR Energy Limited - India
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- Sakthi Sugars Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Romanian Commodities Exchange
- Parliament of New Zealand
- Trasteel International SA, Italy
- Port Waratah Coal Services - Australia
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- Parry Sugars Refinery, India
- Indian Energy Exchange, India
- Chamber of Mines of South Africa
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- Simpson Spence & Young - Indonesia
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- Minerals Council of Australia
- Renaissance Capital - South Africa
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- LBH Netherlands Bv - Netherlands
- Lanco Infratech Ltd - India
- GN Power Mariveles Coal Plant, Philippines
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- Kartika Selabumi Mining - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
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- Kideco Jaya Agung - Indonesia
- Timah Investasi Mineral - Indoneisa
- TNB Fuel Sdn Bhd - Malaysia
- Ministry of Mines - Canada
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- Interocean Group of Companies - India
- Pipit Mutiara Jaya. PT, Indonesia
- Eastern Energy - Thailand
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- Tamil Nadu electricity Board
- Uttam Galva Steels Limited - India
- Cement Manufacturers Association - India
- The Treasury - Australian Government
- Binh Thuan Hamico - Vietnam
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- Indonesian Coal Mining Association
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- Jaiprakash Power Ventures ltd
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- Kapuas Tunggal Persada - Indonesia
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- Barasentosa Lestari - Indonesia
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- Savvy Resources Ltd - HongKong
- Samtan Co., Ltd - South Korea
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- PowerSource Philippines DevCo
- ICICI Bank Limited - India
- Videocon Industries ltd - India
- Formosa Plastics Group - Taiwan
- Jindal Steel & Power Ltd - India
- Globalindo Alam Lestari - Indonesia
- CNBM International Corporation - China
- Bank of Tokyo Mitsubishi UFJ Ltd
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- Wood Mackenzie - Singapore
- Independent Power Producers Association of India
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- Karbindo Abesyapradhi - Indoneisa
- IEA Clean Coal Centre - UK
- Edison Trading Spa - Italy
- Australian Coal Association
- Aboitiz Power Corporation - Philippines
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