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Thursday, 12 July 12
SOUTHGOBI RESOURCES ANNOUNCES NOTICE OF INVESTMENT DISPUTE FILED AGAINST MONGOLIAN GOVERNMENT
Press Release - SouthGobi Resources Ltd. (TSX: SGQ, HK: 1878) (“SouthGobi”) announced today that SGQ Coal Investment Pte. Ltd., a wholly owned subsidiary of SouthGobi that owns the Company’s Mongolian operating subsidiary SouthGobi Sands LLC (“SGS”), has filed a Notice of Investment Dispute on the Mongolian Government pursuant to the Bilateral Investment Treaty (“BIT”) between Singapore and Mongolia. The Company has filed the Notice of Investment Dispute following a determination by management that they have exhausted all other possible means to resolve an ongoing investment dispute between SGS and the Mongolian authorities.
The Notice of Investment Dispute consists of, but is not limited to, the failure by the Mineral Resources Authority of Mongolia to execute the pre-mining agreements (“PMAs”) associated with certain exploration licenses of the Company pursuant to which valid PMA applications had been lodged in 2011. The areas covered by the valid PMA applications include the resource known as Zag Suuj and certain areas associated with the broader Soumber Deposit.
The Notice of Investment Dispute triggers the dispute resolution process under the BIT whereby the Mongolian Government has a six-month cure period from the date of receipt of the notice to satisfactorily resolve the dispute through negotiations. If the negotiations are not successful, the Company will be entitled to commence conciliation/arbitration proceedings under the auspices of the International Centre for Settlement of Investment Disputes (“ICSID”) pursuant to the BIT. However in the event that the Mongolian Government fails to negotiate, ICSID arbitration proceedings may be accelerated before the six (6) months have expired.
About SouthGobi Resources
SouthGobi Resources is focused on exploration and development of its Permian-age metallurgical and thermal coal deposits in Mongolia’s South Gobi Region. The company’s flagship coal mine, Ovoot Tolgoi, is producing and selling coal to customers in China. The company plans to supply a wide range of coal products to markets in Asia.
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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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- Price Waterhouse Coopers - Russia
- Siam City Cement PLC, Thailand
- MS Steel International - UAE
- Power Finance Corporation Ltd., India
- Eastern Coal Council - USA
- Bahari Cakrawala Sebuku - Indonesia
- Globalindo Alam Lestari - Indonesia
- Manunggal Multi Energi - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Trasteel International SA, Italy
- Coalindo Energy - Indonesia
- Agrawal Coal Company - India
- Sinarmas Energy and Mining - Indonesia
- Bharathi Cement Corporation - India
- Kideco Jaya Agung - Indonesia
- Bukit Makmur.PT - Indonesia
- Mintek Dendrill Indonesia
- Iligan Light & Power Inc, Philippines
- Antam Resourcindo - Indonesia
- Ambuja Cements Ltd - India
- Carbofer General Trading SA - India
- Essar Steel Hazira Ltd - India
- Bhatia International Limited - India
- SN Aboitiz Power Inc, Philippines
- LBH Netherlands Bv - Netherlands
- Eastern Energy - Thailand
- London Commodity Brokers - England
- PNOC Exploration Corporation - Philippines
- Simpson Spence & Young - Indonesia
- The State Trading Corporation of India Ltd
- Formosa Plastics Group - Taiwan
- Wilmar Investment Holdings
- PowerSource Philippines DevCo
- Medco Energi Mining Internasional
- Electricity Generating Authority of Thailand
- European Bulk Services B.V. - Netherlands
- PTC India Limited - India
- Oldendorff Carriers - Singapore
- Chamber of Mines of South Africa
- Ind-Barath Power Infra Limited - India
- Sarangani Energy Corporation, Philippines
- Therma Luzon, Inc, Philippines
- Metalloyd Limited - United Kingdom
- CIMB Investment Bank - Malaysia
- Global Business Power Corporation, Philippines
- Indika Energy - Indonesia
- Ministry of Transport, Egypt
- Uttam Galva Steels Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Deloitte Consulting - India
- Sree Jayajothi Cements Limited - India
- CNBM International Corporation - China
- GAC Shipping (India) Pvt Ltd
- Kalimantan Lumbung Energi - Indonesia
- Attock Cement Pakistan Limited
- Straits Asia Resources Limited - Singapore
- Samtan Co., Ltd - South Korea
- Vizag Seaport Private Limited - India
- Jaiprakash Power Ventures ltd
- Georgia Ports Authority, United States
- Posco Energy - South Korea
- Ministry of Mines - Canada
- Port Waratah Coal Services - Australia
- Makarim & Taira - Indonesia
- Parliament of New Zealand
- Karaikal Port Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Maheswari Brothers Coal Limited - India
- AsiaOL BioFuels Corp., Philippines
- Coal and Oil Company - UAE
- Krishnapatnam Port Company Ltd. - India
- VISA Power Limited - India
- Bhushan Steel Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Kaltim Prima Coal - Indonesia
- ASAPP Information Group - India
- Bhoruka Overseas - Indonesia
- White Energy Company Limited
- Coastal Gujarat Power Limited - India
- Energy Link Ltd, New Zealand
- Kepco SPC Power Corporation, Philippines
- McConnell Dowell - Australia
- Cigading International Bulk Terminal - Indonesia
- Indogreen Group - Indonesia
- Sojitz Corporation - Japan
- Timah Investasi Mineral - Indoneisa
- The University of Queensland
- Energy Development Corp, Philippines
- Bulk Trading Sa - Switzerland
- Indo Tambangraya Megah - Indonesia
- Barasentosa Lestari - Indonesia
- Global Coal Blending Company Limited - Australia
- Africa Commodities Group - South Africa
- PetroVietnam Power Coal Import and Supply Company
- Central Electricity Authority - India
- Parry Sugars Refinery, India
- Jorong Barutama Greston.PT - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Directorate General of MIneral and Coal - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Electricity Authority, New Zealand
- San Jose City I Power Corp, Philippines
- ICICI Bank Limited - India
- Larsen & Toubro Limited - India
- Kumho Petrochemical, South Korea
- Minerals Council of Australia
- Gujarat Mineral Development Corp Ltd - India
- Indian Oil Corporation Limited
- Bayan Resources Tbk. - Indonesia
- Savvy Resources Ltd - HongKong
- OPG Power Generation Pvt Ltd - India
- Mercator Lines Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Latin American Coal - Colombia
- Altura Mining Limited, Indonesia
- Vedanta Resources Plc - India
- Ceylon Electricity Board - Sri Lanka
- Edison Trading Spa - Italy
- Vijayanagar Sugar Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- India Bulls Power Limited - India
- Malabar Cements Ltd - India
- Chettinad Cement Corporation Ltd - India
- IEA Clean Coal Centre - UK
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kobexindo Tractors - Indoneisa
- Global Green Power PLC Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Australian Commodity Traders Exchange
- Tata Chemicals Ltd - India
- Heidelberg Cement - Germany
- Semirara Mining and Power Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Sakthi Sugars Limited - India
- Aboitiz Power Corporation - Philippines
- Meenaskhi Energy Private Limited - India
- Star Paper Mills Limited - India
- Indonesian Coal Mining Association
- Sindya Power Generating Company Private Ltd
- Singapore Mercantile Exchange
- Rashtriya Ispat Nigam Limited - India
- Jindal Steel & Power Ltd - India
- Kartika Selabumi Mining - Indonesia
- GMR Energy Limited - India
- Toyota Tsusho Corporation, Japan
- Lanco Infratech Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ministry of Finance - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Independent Power Producers Association of India
- Xindia Steels Limited - India
- Renaissance Capital - South Africa
- Meralco Power Generation, Philippines
- Semirara Mining Corp, Philippines
- The Treasury - Australian Government
- Mjunction Services Limited - India
- Pendopo Energi Batubara - Indonesia
- Bangladesh Power Developement Board
- Tamil Nadu electricity Board
- Binh Thuan Hamico - Vietnam
- Madhucon Powers Ltd - India
- Romanian Commodities Exchange
- Videocon Industries ltd - India
- International Coal Ventures Pvt Ltd - India
- Rio Tinto Coal - Australia
- Orica Australia Pty. Ltd.
- Alfred C Toepfer International GmbH - Germany
- Holcim Trading Pte Ltd - Singapore
- Kohat Cement Company Ltd. - Pakistan
- Siam City Cement - Thailand
- Gujarat Sidhee Cement - India
- Grasim Industreis Ltd - India
- Petron Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- Orica Mining Services - Indonesia
- Dalmia Cement Bharat India
- Central Java Power - Indonesia
- Australian Coal Association
- Kapuas Tunggal Persada - Indonesia
- Mercuria Energy - Indonesia
- Goldman Sachs - Singapore
- Interocean Group of Companies - India
- Intertek Mineral Services - Indonesia
- Planning Commission, India
- Miang Besar Coal Terminal - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Marubeni Corporation - India
- Merrill Lynch Commodities Europe
- Anglo American - United Kingdom
- Economic Council, Georgia
- Sical Logistics Limited - India
- Karbindo Abesyapradhi - Indoneisa
- TeaM Sual Corporation - Philippines
- Wood Mackenzie - Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bukit Baiduri Energy - Indonesia
- South Luzon Thermal Energy Corporation
- Standard Chartered Bank - UAE
- Directorate Of Revenue Intelligence - India
- Commonwealth Bank - Australia
- SMC Global Power, Philippines
- SMG Consultants - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Thiess Contractors Indonesia
- Thai Mozambique Logistica
- Cement Manufacturers Association - India
- GVK Power & Infra Limited - India
- Borneo Indobara - Indonesia
- New Zealand Coal & Carbon
- Baramulti Group, Indonesia
- Gujarat Electricity Regulatory Commission - India
- Riau Bara Harum - Indonesia
- Aditya Birla Group - India
- Indian Energy Exchange, India
- Salva Resources Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
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