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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, 02 February 24
DRY BULK MARKET: THE DOWNWARD REVISION IN THE GROWTH OF CAPESIZE TONNE DAYS IN JANUARY WITH THE BCI DROPPING - MARIA BERTZELETOU
In the last week of January, the dry freight market sustained weakness in the Capesize segment, while the number of ballasters in the Southeast (SE ...
Friday, 02 February 24
COAL INDIA ACHIEVES NEARLY 80% OF ITS FY24 PRODUCTION TARGET IN TEN MONTHS - CNBCTV18
For the month of January, the company’s production grew by 9.1% from the same period last year to 78.4 Million Tonnes (MT), from 71.9 MT last ...
Thursday, 01 February 24
CHINA'S WIND, SOLAR CAPACITY TO OVERTAKE COAL IN 2024 - INDUSTRY BODY, REUTERS REPORTED
China’s installed wind and solar capacity is expected to overtake coal for the first time this year, according to industry forecasts.
&nb ...
Thursday, 01 February 24
ANTI-DEDUCTION CLAUSES: CAN A CHARTERER WITHHOLD HIRE WITHOUT AN OWNER'S CONSENT? - SKULD
KNOWLEDGE TO ELEVATE
Summary
In The Anna Dorothea, the Court found that where a charterparty provides that no deduction from hire may be m ...
Thursday, 01 February 24
INDIA REBUILDS COAL STOCKS TO ENSURE ELECTRIC RELIABILITY - REUTERS
India’s electricity supply is much more comfortable at the start of 2024 than in either 2023 or 2022 as coal production has ramped up and the ...
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- Essar Steel Hazira Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- SMG Consultants - Indonesia
- Central Java Power - Indonesia
- Gujarat Sidhee Cement - India
- Trasteel International SA, Italy
- Sindya Power Generating Company Private Ltd
- PTC India Limited - India
- Leighton Contractors Pty Ltd - Australia
- Minerals Council of Australia
- Carbofer General Trading SA - India
- CNBM International Corporation - China
- Georgia Ports Authority, United States
- Merrill Lynch Commodities Europe
- Jaiprakash Power Ventures ltd
- Independent Power Producers Association of India
- GN Power Mariveles Coal Plant, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Alfred C Toepfer International GmbH - Germany
- Vizag Seaport Private Limited - India
- Meenaskhi Energy Private Limited - India
- South Luzon Thermal Energy Corporation
- Global Green Power PLC Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Parliament of New Zealand
- Dalmia Cement Bharat India
- Marubeni Corporation - India
- Larsen & Toubro Limited - India
- Heidelberg Cement - Germany
- Rio Tinto Coal - Australia
- European Bulk Services B.V. - Netherlands
- Bayan Resources Tbk. - Indonesia
- Attock Cement Pakistan Limited
- International Coal Ventures Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- Metalloyd Limited - United Kingdom
- Ministry of Transport, Egypt
- The University of Queensland
- Standard Chartered Bank - UAE
- Krishnapatnam Port Company Ltd. - India
- Australian Commodity Traders Exchange
- Kepco SPC Power Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- Xindia Steels Limited - India
- Sree Jayajothi Cements Limited - India
- Sinarmas Energy and Mining - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Savvy Resources Ltd - HongKong
- PowerSource Philippines DevCo
- Simpson Spence & Young - Indonesia
- Kumho Petrochemical, South Korea
- AsiaOL BioFuels Corp., Philippines
- Mintek Dendrill Indonesia
- Ambuja Cements Ltd - India
- Oldendorff Carriers - Singapore
- Formosa Plastics Group - Taiwan
- Madhucon Powers Ltd - India
- Uttam Galva Steels Limited - India
- Manunggal Multi Energi - Indonesia
- Aditya Birla Group - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Binh Thuan Hamico - Vietnam
- Agrawal Coal Company - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Romanian Commodities Exchange
- Sakthi Sugars Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Grasim Industreis Ltd - India
- Intertek Mineral Services - Indonesia
- Indo Tambangraya Megah - Indonesia
- Energy Development Corp, Philippines
- Vedanta Resources Plc - India
- GAC Shipping (India) Pvt Ltd
- Thiess Contractors Indonesia
- Sical Logistics Limited - India
- Bhatia International Limited - India
- ICICI Bank Limited - India
- Orica Mining Services - Indonesia
- Indika Energy - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Jindal Steel & Power Ltd - India
- IEA Clean Coal Centre - UK
- Electricity Generating Authority of Thailand
- Riau Bara Harum - Indonesia
- Chamber of Mines of South Africa
- Gujarat Mineral Development Corp Ltd - India
- Goldman Sachs - Singapore
- IHS Mccloskey Coal Group - USA
- Bulk Trading Sa - Switzerland
- Barasentosa Lestari - Indonesia
- Africa Commodities Group - South Africa
- Energy Link Ltd, New Zealand
- Straits Asia Resources Limited - Singapore
- Sojitz Corporation - Japan
- Mjunction Services Limited - India
- PNOC Exploration Corporation - Philippines
- Wood Mackenzie - Singapore
- Indogreen Group - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Petron Corporation, Philippines
- Global Business Power Corporation, Philippines
- Bangladesh Power Developement Board
- Timah Investasi Mineral - Indoneisa
- LBH Netherlands Bv - Netherlands
- San Jose City I Power Corp, Philippines
- Makarim & Taira - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Therma Luzon, Inc, Philippines
- Samtan Co., Ltd - South Korea
- Bahari Cakrawala Sebuku - Indonesia
- Planning Commission, India
- Asmin Koalindo Tuhup - Indonesia
- Latin American Coal - Colombia
- Indonesian Coal Mining Association
- Price Waterhouse Coopers - Russia
- VISA Power Limited - India
- Mercator Lines Limited - India
- Malabar Cements Ltd - India
- Posco Energy - South Korea
- Bhushan Steel Limited - India
- India Bulls Power Limited - India
- New Zealand Coal & Carbon
- Cement Manufacturers Association - India
- Semirara Mining Corp, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Port Waratah Coal Services - Australia
- MS Steel International - UAE
- Coastal Gujarat Power Limited - India
- Commonwealth Bank - Australia
- Star Paper Mills Limited - India
- Renaissance Capital - South Africa
- Meralco Power Generation, Philippines
- Global Coal Blending Company Limited - Australia
- Anglo American - United Kingdom
- Altura Mining Limited, Indonesia
- SMC Global Power, Philippines
- Ministry of Mines - Canada
- Thai Mozambique Logistica
- Antam Resourcindo - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- GVK Power & Infra Limited - India
- ASAPP Information Group - India
- Sarangani Energy Corporation, Philippines
- Deloitte Consulting - India
- Karbindo Abesyapradhi - Indoneisa
- Bukit Baiduri Energy - Indonesia
- Lanco Infratech Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Medco Energi Mining Internasional
- Indian Energy Exchange, India
- Ministry of Finance - Indonesia
- Pendopo Energi Batubara - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Economic Council, Georgia
- Borneo Indobara - Indonesia
- Kobexindo Tractors - Indoneisa
- Mercuria Energy - Indonesia
- Kartika Selabumi Mining - Indonesia
- Ind-Barath Power Infra Limited - India
- The State Trading Corporation of India Ltd
- Bank of Tokyo Mitsubishi UFJ Ltd
- Jorong Barutama Greston.PT - Indonesia
- White Energy Company Limited
- Tamil Nadu electricity Board
- Wilmar Investment Holdings
- Gujarat Electricity Regulatory Commission - India
- Interocean Group of Companies - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Aboitiz Power Corporation - Philippines
- SN Aboitiz Power Inc, Philippines
- Central Electricity Authority - India
- The Treasury - Australian Government
- Kideco Jaya Agung - Indonesia
- Australian Coal Association
- GMR Energy Limited - India
- TeaM Sual Corporation - Philippines
- Power Finance Corporation Ltd., India
- Directorate Of Revenue Intelligence - India
- Toyota Tsusho Corporation, Japan
- Eastern Coal Council - USA
- Orica Australia Pty. Ltd.
- Iligan Light & Power Inc, Philippines
- Coalindo Energy - Indonesia
- Globalindo Alam Lestari - Indonesia
- London Commodity Brokers - England
- Siam City Cement - Thailand
- Baramulti Group, Indonesia
- Singapore Mercantile Exchange
- Parry Sugars Refinery, India
- Eastern Energy - Thailand
- Karaikal Port Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Indian Oil Corporation Limited
- Kaltim Prima Coal - Indonesia
- OPG Power Generation Pvt Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Videocon Industries ltd - India
- Kapuas Tunggal Persada - Indonesia
- Edison Trading Spa - Italy
- Electricity Authority, New Zealand
- Bhoruka Overseas - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Tata Chemicals Ltd - India
- Coal and Oil Company - UAE
- Semirara Mining and Power Corporation, Philippines
- McConnell Dowell - Australia
- Maheswari Brothers Coal Limited - India
- Bharathi Cement Corporation - India
- Siam City Cement PLC, Thailand
- Salva Resources Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- Vijayanagar Sugar Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Banpu Public Company Limited - Thailand
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