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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, 23 February 24
STRONG OUTLOOK FOR THE TANKER MARKET IN 2024 AND BEYOND - DNV
Several factors have aligned over the past two years to create a robust and profitable market for tanker owners, which is expected to drive newbuil ...
Friday, 23 February 24
AUSTRALIAN COAL FLOWS TO ASIA HOVER ABOVE LAST YEAR’S VOLUME TONNES - SIGNAL GROUP
In the final days of February, the dry bulk freight market appeared to maintain a relatively stable momentum, particularly evident in the large ves ...
Friday, 23 February 24
RUSSIAN COAL SHIPMENTS FALL 14% AS SANCTIONS BITE - BIMCO
During the first seven weeks of 2024, Russian coal shipments have fallen 14% y/y. Volumes have gradually declined since October 2023 when logistica ...
Thursday, 22 February 24
BIMCO PUBLISHES SHIP FINANCING FORMS TO ENSURE UNINTERRUPTED USE OF SHIPS
BIMCO has published two standard Quiet Enjoyment Letters (QELs), the first standard form QELs available to the industry, to offer a tool that can e ...
Monday, 19 February 24
METALS INVESTMENT: THE DARKEST HOUR IS JUST BEFORE THE DAWN - WOOD MACKENZIE
Things often seem at their worst just before they get better. In terms of meeting our net zero 2050 scenario, we’ve reached a watershed momen ...
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- PTC India Limited - India
- International Coal Ventures Pvt Ltd - India
- Energy Link Ltd, New Zealand
- Asmin Koalindo Tuhup - Indonesia
- Larsen & Toubro Limited - India
- Sojitz Corporation - Japan
- Rio Tinto Coal - Australia
- Baramulti Group, Indonesia
- Globalindo Alam Lestari - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Indogreen Group - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Georgia Ports Authority, United States
- Malabar Cements Ltd - India
- Salva Resources Pvt Ltd - India
- Mercuria Energy - Indonesia
- Energy Development Corp, Philippines
- Global Green Power PLC Corporation, Philippines
- Thai Mozambique Logistica
- Directorate Of Revenue Intelligence - India
- Krishnapatnam Port Company Ltd. - India
- Wilmar Investment Holdings
- Ministry of Transport, Egypt
- LBH Netherlands Bv - Netherlands
- Bukit Asam (Persero) Tbk - Indonesia
- Indian Oil Corporation Limited
- Power Finance Corporation Ltd., India
- Holcim Trading Pte Ltd - Singapore
- Jindal Steel & Power Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- South Luzon Thermal Energy Corporation
- Bukit Makmur.PT - Indonesia
- OPG Power Generation Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- Makarim & Taira - Indonesia
- San Jose City I Power Corp, Philippines
- Ceylon Electricity Board - Sri Lanka
- Marubeni Corporation - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Uttam Galva Steels Limited - India
- Meenaskhi Energy Private Limited - India
- The University of Queensland
- Independent Power Producers Association of India
- Kepco SPC Power Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Semirara Mining and Power Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Coalindo Energy - Indonesia
- Mjunction Services Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Interocean Group of Companies - India
- Binh Thuan Hamico - Vietnam
- Vijayanagar Sugar Pvt Ltd - India
- Port Waratah Coal Services - Australia
- Tata Chemicals Ltd - India
- New Zealand Coal & Carbon
- Vizag Seaport Private Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Bhatia International Limited - India
- Standard Chartered Bank - UAE
- Mintek Dendrill Indonesia
- Carbofer General Trading SA - India
- Barasentosa Lestari - Indonesia
- Wood Mackenzie - Singapore
- Therma Luzon, Inc, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Xindia Steels Limited - India
- GN Power Mariveles Coal Plant, Philippines
- India Bulls Power Limited - India
- Manunggal Multi Energi - Indonesia
- European Bulk Services B.V. - Netherlands
- Savvy Resources Ltd - HongKong
- Central Electricity Authority - India
- Simpson Spence & Young - Indonesia
- Karaikal Port Pvt Ltd - India
- Central Java Power - Indonesia
- Planning Commission, India
- Indian Energy Exchange, India
- Coastal Gujarat Power Limited - India
- Kartika Selabumi Mining - Indonesia
- Latin American Coal - Colombia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- ICICI Bank Limited - India
- Leighton Contractors Pty Ltd - Australia
- Videocon Industries ltd - India
- Vedanta Resources Plc - India
- Bulk Trading Sa - Switzerland
- Sarangani Energy Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Bharathi Cement Corporation - India
- Cement Manufacturers Association - India
- ASAPP Information Group - India
- IEA Clean Coal Centre - UK
- TNB Fuel Sdn Bhd - Malaysia
- Coal and Oil Company - UAE
- Commonwealth Bank - Australia
- London Commodity Brokers - England
- GAC Shipping (India) Pvt Ltd
- White Energy Company Limited
- CIMB Investment Bank - Malaysia
- Kobexindo Tractors - Indoneisa
- McConnell Dowell - Australia
- Chamber of Mines of South Africa
- Goldman Sachs - Singapore
- Bhushan Steel Limited - India
- Sindya Power Generating Company Private Ltd
- Sical Logistics Limited - India
- Global Coal Blending Company Limited - Australia
- Ambuja Cements Ltd - India
- Price Waterhouse Coopers - Russia
- Gujarat Mineral Development Corp Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Bangladesh Power Developement Board
- Orica Mining Services - Indonesia
- Thiess Contractors Indonesia
- Bukit Baiduri Energy - Indonesia
- MS Steel International - UAE
- Eastern Energy - Thailand
- IHS Mccloskey Coal Group - USA
- Global Business Power Corporation, Philippines
- PowerSource Philippines DevCo
- Grasim Industreis Ltd - India
- Australian Coal Association
- Eastern Coal Council - USA
- Bayan Resources Tbk. - Indonesia
- Ind-Barath Power Infra Limited - India
- Pendopo Energi Batubara - Indonesia
- Indonesian Coal Mining Association
- GVK Power & Infra Limited - India
- Sinarmas Energy and Mining - Indonesia
- The State Trading Corporation of India Ltd
- Madhucon Powers Ltd - India
- Economic Council, Georgia
- Electricity Generating Authority of Thailand
- Semirara Mining Corp, Philippines
- Intertek Mineral Services - Indonesia
- Antam Resourcindo - Indonesia
- Sakthi Sugars Limited - India
- VISA Power Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Parliament of New Zealand
- Electricity Authority, New Zealand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Lanco Infratech Ltd - India
- Medco Energi Mining Internasional
- Straits Asia Resources Limited - Singapore
- Siam City Cement - Thailand
- Renaissance Capital - South Africa
- Maharashtra Electricity Regulatory Commission - India
- Essar Steel Hazira Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Romanian Commodities Exchange
- Africa Commodities Group - South Africa
- Agrawal Coal Company - India
- Metalloyd Limited - United Kingdom
- Anglo American - United Kingdom
- The Treasury - Australian Government
- CNBM International Corporation - China
- Cigading International Bulk Terminal - Indonesia
- Dalmia Cement Bharat India
- Attock Cement Pakistan Limited
- PNOC Exploration Corporation - Philippines
- Kumho Petrochemical, South Korea
- Tamil Nadu electricity Board
- Timah Investasi Mineral - Indoneisa
- Australian Commodity Traders Exchange
- Ministry of Mines - Canada
- Chettinad Cement Corporation Ltd - India
- Merrill Lynch Commodities Europe
- Kapuas Tunggal Persada - Indonesia
- Bhoruka Overseas - Indonesia
- Indo Tambangraya Megah - Indonesia
- Jaiprakash Power Ventures ltd
- TeaM Sual Corporation - Philippines
- Mercator Lines Limited - India
- Riau Bara Harum - Indonesia
- Maheswari Brothers Coal Limited - India
- Posco Energy - South Korea
- Gujarat Sidhee Cement - India
- Miang Besar Coal Terminal - Indonesia
- Banpu Public Company Limited - Thailand
- Minerals Council of Australia
- Formosa Plastics Group - Taiwan
- Oldendorff Carriers - Singapore
- Directorate General of MIneral and Coal - Indonesia
- Star Paper Mills Limited - India
- GMR Energy Limited - India
- Ministry of Finance - Indonesia
- Samtan Co., Ltd - South Korea
- Iligan Light & Power Inc, Philippines
- Petron Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- Aboitiz Power Corporation - Philippines
- Kaltim Prima Coal - Indonesia
- Singapore Mercantile Exchange
- Borneo Indobara - Indonesia
- Parry Sugars Refinery, India
- AsiaOL BioFuels Corp., Philippines
- Heidelberg Cement - Germany
- SMC Global Power, Philippines
- Indika Energy - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Edison Trading Spa - Italy
- Meralco Power Generation, Philippines
- Kideco Jaya Agung - Indonesia
- Trasteel International SA, Italy
- SMG Consultants - Indonesia
- Deloitte Consulting - India
- Alfred C Toepfer International GmbH - Germany
- Aditya Birla Group - India
- Siam City Cement PLC, Thailand
- Altura Mining Limited, Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Sree Jayajothi Cements Limited - India
- Orica Australia Pty. Ltd.
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