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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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Saturday, 07 July 12
EXCESS SUPPLY & WEAK DEMAND KEEP COAL PRICES LOW
COALspot.com - SGX AsiaClear OTC Coal Swaps for August and Q4 deliveries slipped slightly this week. SGX’s Indonesian sub-bituminous coal swap ...
Saturday, 07 July 12
BALTIC INDEX UP ON STRONG CAPE, PANAMAX RATES - VISTAAR
COALspot.com - This week all the segments were firmed up with BDI up by 15.23 pct (up by 153 points) closing at 1,157 points.
The cape index also ...
Saturday, 07 July 12
DRY BULK MARKET NOT ABLE TO FIND SOLID GROUND SAY EXPERTS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
With the second half of each, traditionally looking the most active one, especially in terms of newbuildings being delivered, it's highly unlikely ...
Thursday, 05 July 12
DRY BULK MARKET MOVES FURTHER UP THE HILL - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has kept its growth momentum by the middle of the week, as the BDI (Baltic Dry Index) rose by an additional 40 points to 1,103 p ...
Thursday, 05 July 12
BUMI ACHIEVES HIGHER SELLING PRICE IN FIRST QUARTER
COALspot.com - PT Bumi Resources Tbk (BUMI), Indonesia's largest coal producer and exporter, has successfully maintained a higher sales margin, des ...
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- Marubeni Corporation - India
- CIMB Investment Bank - Malaysia
- Kepco SPC Power Corporation, Philippines
- Wilmar Investment Holdings
- Energy Development Corp, Philippines
- Ministry of Finance - Indonesia
- Deloitte Consulting - India
- Grasim Industreis Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Aboitiz Power Corporation - Philippines
- Aditya Birla Group - India
- Siam City Cement PLC, Thailand
- SMG Consultants - Indonesia
- Eastern Coal Council - USA
- The State Trading Corporation of India Ltd
- Karbindo Abesyapradhi - Indoneisa
- Bhushan Steel Limited - India
- Global Green Power PLC Corporation, Philippines
- Sakthi Sugars Limited - India
- Electricity Generating Authority of Thailand
- Gujarat Sidhee Cement - India
- Heidelberg Cement - Germany
- Attock Cement Pakistan Limited
- Global Coal Blending Company Limited - Australia
- Indian Oil Corporation Limited
- Semirara Mining Corp, Philippines
- Timah Investasi Mineral - Indoneisa
- Thai Mozambique Logistica
- International Coal Ventures Pvt Ltd - India
- Madhucon Powers Ltd - India
- Kideco Jaya Agung - Indonesia
- Indian Energy Exchange, India
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- Tamil Nadu electricity Board
- Directorate General of MIneral and Coal - Indonesia
- Larsen & Toubro Limited - India
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- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- PowerSource Philippines DevCo
- OPG Power Generation Pvt Ltd - India
- Dalmia Cement Bharat India
- Pipit Mutiara Jaya. PT, Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Semirara Mining and Power Corporation, Philippines
- Parliament of New Zealand
- TNB Fuel Sdn Bhd - Malaysia
- Leighton Contractors Pty Ltd - Australia
- Singapore Mercantile Exchange
- San Jose City I Power Corp, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Asmin Koalindo Tuhup - Indonesia
- New Zealand Coal & Carbon
- PNOC Exploration Corporation - Philippines
- Orica Australia Pty. Ltd.
- Altura Mining Limited, Indonesia
- Essar Steel Hazira Ltd - India
- Metalloyd Limited - United Kingdom
- Mintek Dendrill Indonesia
- TeaM Sual Corporation - Philippines
- Coastal Gujarat Power Limited - India
- Tata Chemicals Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Port Waratah Coal Services - Australia
- Petron Corporation, Philippines
- ICICI Bank Limited - India
- Cigading International Bulk Terminal - Indonesia
- GAC Shipping (India) Pvt Ltd
- Bhoruka Overseas - Indonesia
- Central Java Power - Indonesia
- Parry Sugars Refinery, India
- Indogreen Group - Indonesia
- Globalindo Alam Lestari - Indonesia
- Savvy Resources Ltd - HongKong
- Antam Resourcindo - Indonesia
- India Bulls Power Limited - India
- Malabar Cements Ltd - India
- LBH Netherlands Bv - Netherlands
- Billiton Holdings Pty Ltd - Australia
- Standard Chartered Bank - UAE
- Holcim Trading Pte Ltd - Singapore
- Latin American Coal - Colombia
- GN Power Mariveles Coal Plant, Philippines
- Uttam Galva Steels Limited - India
- The Treasury - Australian Government
- Barasentosa Lestari - Indonesia
- Vedanta Resources Plc - India
- Manunggal Multi Energi - Indonesia
- Indo Tambangraya Megah - Indonesia
- Electricity Authority, New Zealand
- GMR Energy Limited - India
- Vizag Seaport Private Limited - India
- Riau Bara Harum - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Bayan Resources Tbk. - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Meenaskhi Energy Private Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Sarangani Energy Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Gujarat Mineral Development Corp Ltd - India
- Intertek Mineral Services - Indonesia
- Romanian Commodities Exchange
- Baramulti Group, Indonesia
- Thiess Contractors Indonesia
- Edison Trading Spa - Italy
- Lanco Infratech Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Bhatia International Limited - India
- Kaltim Prima Coal - Indonesia
- Georgia Ports Authority, United States
- Minerals Council of Australia
- Eastern Energy - Thailand
- Maharashtra Electricity Regulatory Commission - India
- Kapuas Tunggal Persada - Indonesia
- Oldendorff Carriers - Singapore
- Trasteel International SA, Italy
- Commonwealth Bank - Australia
- MS Steel International - UAE
- Goldman Sachs - Singapore
- Borneo Indobara - Indonesia
- Power Finance Corporation Ltd., India
- Bukit Baiduri Energy - Indonesia
- Sical Logistics Limited - India
- Global Business Power Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- Iligan Light & Power Inc, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Kumho Petrochemical, South Korea
- Cement Manufacturers Association - India
- Jaiprakash Power Ventures ltd
- Bangladesh Power Developement Board
- PTC India Limited - India
- South Luzon Thermal Energy Corporation
- Toyota Tsusho Corporation, Japan
- Economic Council, Georgia
- Bukit Makmur.PT - Indonesia
- Bharathi Cement Corporation - India
- Price Waterhouse Coopers - Russia
- Mercuria Energy - Indonesia
- Energy Link Ltd, New Zealand
- Makarim & Taira - Indonesia
- Meralco Power Generation, Philippines
- Bulk Trading Sa - Switzerland
- Indonesian Coal Mining Association
- Siam City Cement - Thailand
- VISA Power Limited - India
- Posco Energy - South Korea
- Vijayanagar Sugar Pvt Ltd - India
- Orica Mining Services - Indonesia
- Central Electricity Authority - India
- Maheswari Brothers Coal Limited - India
- Sindya Power Generating Company Private Ltd
- Videocon Industries ltd - India
- Coal and Oil Company - UAE
- Simpson Spence & Young - Indonesia
- Ind-Barath Power Infra Limited - India
- Planning Commission, India
- AsiaOL BioFuels Corp., Philippines
- Wood Mackenzie - Singapore
- Ministry of Transport, Egypt
- Salva Resources Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- Agrawal Coal Company - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Jindal Steel & Power Ltd - India
- Anglo American - United Kingdom
- ASAPP Information Group - India
- Xindia Steels Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- Ministry of Mines - Canada
- Merrill Lynch Commodities Europe
- Krishnapatnam Port Company Ltd. - India
- Carbofer General Trading SA - India
- Binh Thuan Hamico - Vietnam
- Australian Commodity Traders Exchange
- Interocean Group of Companies - India
- IHS Mccloskey Coal Group - USA
- White Energy Company Limited
- Formosa Plastics Group - Taiwan
- Bahari Cakrawala Sebuku - Indonesia
- Kartika Selabumi Mining - Indonesia
- CNBM International Corporation - China
- Mjunction Services Limited - India
- Australian Coal Association
- GVK Power & Infra Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Independent Power Producers Association of India
- Mercator Lines Limited - India
- Sojitz Corporation - Japan
- The University of Queensland
- Coalindo Energy - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indika Energy - Indonesia
- Sree Jayajothi Cements Limited - India
- Medco Energi Mining Internasional
- SMC Global Power, Philippines
- Chamber of Mines of South Africa
- Rio Tinto Coal - Australia
- Samtan Co., Ltd - South Korea
- Star Paper Mills Limited - India
- McConnell Dowell - Australia
- European Bulk Services B.V. - Netherlands
- Kalimantan Lumbung Energi - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Africa Commodities Group - South Africa
- Ambuja Cements Ltd - India
- Gujarat Electricity Regulatory Commission - India
- London Commodity Brokers - England
- Therma Luzon, Inc, Philippines
- IEA Clean Coal Centre - UK
- Renaissance Capital - South Africa
- Jorong Barutama Greston.PT - Indonesia
- Pendopo Energi Batubara - Indonesia
- SN Aboitiz Power Inc, Philippines
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