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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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Thursday, 25 January 24
THE RED SEA ESCALATION IMPLICATIONS ON GLOBAL SEABORNE TRADE - MARIA BERTZELETOU
In recent days, discussions have intensified about the potential impact on the seaborne trade and ton-miles due to the evolving dynamics of market ...
Thursday, 25 January 24
RED SEA SHIPPING DISRUPTIONS KEEP GEOPOLITICAL PREMIUM FOR COMMODITIES - FITCH RATINGS
Shipping disruptions and re-routing away from the Red Sea will maintain the geopolitical premium in the main commodity markets, including for oil a ...
Friday, 19 January 24
INDONESIA TARGETS 710 MLN METRIC TONS COAL OUTPUT IN 2024 AFTER RECORD 2023 - REUTERS
Indonesia, a major thermal coal exporter, aims to produce 710 million metric tons of coal in 2024, its mining minister said on Monday, after postin ...
Friday, 19 January 24
DRUMMOND COLOMBIA COAL OUTPUT ROSE 7.1% IN 2023 - REUTERS
Coal production from miner Drummond’s Colombia operations rose 7.1% in 2023 to 29.5 million metric tons, while exports declined by 2.6% to 27 ...
Friday, 19 January 24
CHINA'S 2023 COAL OUTPUT HITS RECORD HIGH - REUTERS
China’s coal output reached a record high in 2023, data from the statistics bureau showed on Wednesday, amid an ongoing focus on energy secur ...
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- Toyota Tsusho Corporation, Japan
- Kaltim Prima Coal - Indonesia
- Bhoruka Overseas - Indonesia
- Jaiprakash Power Ventures ltd
- Gujarat Sidhee Cement - India
- Riau Bara Harum - Indonesia
- Barasentosa Lestari - Indonesia
- Romanian Commodities Exchange
- Metalloyd Limited - United Kingdom
- Indian Oil Corporation Limited
- Economic Council, Georgia
- Mjunction Services Limited - India
- Vizag Seaport Private Limited - India
- The State Trading Corporation of India Ltd
- Heidelberg Cement - Germany
- PetroVietnam Power Coal Import and Supply Company
- Bukit Baiduri Energy - Indonesia
- Uttam Galva Steels Limited - India
- Posco Energy - South Korea
- McConnell Dowell - Australia
- Pendopo Energi Batubara - Indonesia
- Tamil Nadu electricity Board
- Renaissance Capital - South Africa
- Kapuas Tunggal Persada - Indonesia
- Krishnapatnam Port Company Ltd. - India
- SN Aboitiz Power Inc, Philippines
- Altura Mining Limited, Indonesia
- Banpu Public Company Limited - Thailand
- SMG Consultants - Indonesia
- Coalindo Energy - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- CIMB Investment Bank - Malaysia
- South Luzon Thermal Energy Corporation
- GAC Shipping (India) Pvt Ltd
- Aditya Birla Group - India
- Bangladesh Power Developement Board
- Gujarat Mineral Development Corp Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Mintek Dendrill Indonesia
- Directorate General of MIneral and Coal - Indonesia
- PNOC Exploration Corporation - Philippines
- Thiess Contractors Indonesia
- Sinarmas Energy and Mining - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- IHS Mccloskey Coal Group - USA
- Ind-Barath Power Infra Limited - India
- Formosa Plastics Group - Taiwan
- The University of Queensland
- Wilmar Investment Holdings
- Malabar Cements Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Mercator Lines Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Power Finance Corporation Ltd., India
- Simpson Spence & Young - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Meralco Power Generation, Philippines
- Eastern Coal Council - USA
- Kartika Selabumi Mining - Indonesia
- Australian Coal Association
- Maheswari Brothers Coal Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Medco Energi Mining Internasional
- Orica Australia Pty. Ltd.
- Agrawal Coal Company - India
- Bhushan Steel Limited - India
- Edison Trading Spa - Italy
- Meenaskhi Energy Private Limited - India
- Sindya Power Generating Company Private Ltd
- Electricity Generating Authority of Thailand
- Maharashtra Electricity Regulatory Commission - India
- Binh Thuan Hamico - Vietnam
- Sarangani Energy Corporation, Philippines
- Kepco SPC Power Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- Merrill Lynch Commodities Europe
- Aboitiz Power Corporation - Philippines
- New Zealand Coal & Carbon
- Videocon Industries ltd - India
- Kohat Cement Company Ltd. - Pakistan
- SMC Global Power, Philippines
- Electricity Authority, New Zealand
- Borneo Indobara - Indonesia
- Orica Mining Services - Indonesia
- Latin American Coal - Colombia
- Kumho Petrochemical, South Korea
- Energy Link Ltd, New Zealand
- Mercuria Energy - Indonesia
- Intertek Mineral Services - Indonesia
- Wood Mackenzie - Singapore
- AsiaOL BioFuels Corp., Philippines
- Parry Sugars Refinery, India
- Jorong Barutama Greston.PT - Indonesia
- Energy Development Corp, Philippines
- Gujarat Electricity Regulatory Commission - India
- Jindal Steel & Power Ltd - India
- Xindia Steels Limited - India
- Port Waratah Coal Services - Australia
- Bharathi Cement Corporation - India
- Straits Asia Resources Limited - Singapore
- MS Steel International - UAE
- India Bulls Power Limited - India
- Siam City Cement - Thailand
- The Treasury - Australian Government
- Semirara Mining Corp, Philippines
- Ministry of Finance - Indonesia
- Coastal Gujarat Power Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Global Green Power PLC Corporation, Philippines
- Indian Energy Exchange, India
- White Energy Company Limited
- Georgia Ports Authority, United States
- Africa Commodities Group - South Africa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ministry of Mines - Canada
- Bulk Trading Sa - Switzerland
- Alfred C Toepfer International GmbH - Germany
- Lanco Infratech Ltd - India
- Karaikal Port Pvt Ltd - India
- Anglo American - United Kingdom
- Star Paper Mills Limited - India
- Holcim Trading Pte Ltd - Singapore
- Attock Cement Pakistan Limited
- Global Coal Blending Company Limited - Australia
- Karbindo Abesyapradhi - Indoneisa
- Interocean Group of Companies - India
- Carbofer General Trading SA - India
- Indogreen Group - Indonesia
- Therma Luzon, Inc, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Grasim Industreis Ltd - India
- GMR Energy Limited - India
- GVK Power & Infra Limited - India
- Miang Besar Coal Terminal - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Eastern Energy - Thailand
- Global Business Power Corporation, Philippines
- Marubeni Corporation - India
- Tata Chemicals Ltd - India
- Billiton Holdings Pty Ltd - Australia
- San Jose City I Power Corp, Philippines
- Kobexindo Tractors - Indoneisa
- Savvy Resources Ltd - HongKong
- Parliament of New Zealand
- Baramulti Group, Indonesia
- International Coal Ventures Pvt Ltd - India
- Chamber of Mines of South Africa
- Central Java Power - Indonesia
- Trasteel International SA, Italy
- IEA Clean Coal Centre - UK
- Coal and Oil Company - UAE
- PowerSource Philippines DevCo
- Bayan Resources Tbk. - Indonesia
- OPG Power Generation Pvt Ltd - India
- Larsen & Toubro Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Ministry of Transport, Egypt
- Vedanta Resources Plc - India
- TeaM Sual Corporation - Philippines
- Indika Energy - Indonesia
- Sree Jayajothi Cements Limited - India
- London Commodity Brokers - England
- Oldendorff Carriers - Singapore
- Cement Manufacturers Association - India
- Iligan Light & Power Inc, Philippines
- ASAPP Information Group - India
- Samtan Co., Ltd - South Korea
- Sical Logistics Limited - India
- Cigading International Bulk Terminal - Indonesia
- Rio Tinto Coal - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- Minerals Council of Australia
- Petron Corporation, Philippines
- Sakthi Sugars Limited - India
- Central Electricity Authority - India
- GN Power Mariveles Coal Plant, Philippines
- Globalindo Alam Lestari - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Planning Commission, India
- CNBM International Corporation - China
- PTC India Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Dalmia Cement Bharat India
- Madhucon Powers Ltd - India
- Standard Chartered Bank - UAE
- Makarim & Taira - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sojitz Corporation - Japan
- Essar Steel Hazira Ltd - India
- Price Waterhouse Coopers - Russia
- Indo Tambangraya Megah - Indonesia
- Salva Resources Pvt Ltd - India
- VISA Power Limited - India
- Directorate Of Revenue Intelligence - India
- Australian Commodity Traders Exchange
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Independent Power Producers Association of India
- Bukit Makmur.PT - Indonesia
- Semirara Mining and Power Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- Kideco Jaya Agung - Indonesia
- Thai Mozambique Logistica
- Bhatia International Limited - India
- Singapore Mercantile Exchange
- Chettinad Cement Corporation Ltd - India
- Indonesian Coal Mining Association
- Antam Resourcindo - Indonesia
- Deloitte Consulting - India
- Neyveli Lignite Corporation Ltd, - India
- European Bulk Services B.V. - Netherlands
- Siam City Cement PLC, Thailand
- ICICI Bank Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Commonwealth Bank - Australia
- Ambuja Cements Ltd - India
- Goldman Sachs - Singapore
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