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Wednesday, 04 April 12
CHURCHILL MINING TO ACCELERATE INTERNATIONAL ARBITRATION AGAINST INDONESIA
 Churchill Mining plc (AIM: CHL), advises that notations on the Indonesian Supreme Court's register of cases shows the Supreme Court has rejected the appeal by Churchill/Ridlatama, according to a statement posted on company's website.
The statement further said,
1. The notations only provide an indication as to what the Supreme Court's decision will be and are not the same as the Supreme Court handing down its decision.
2. Until the Supreme Court hands down its decision there is no binding and enforceable judgment. The 'handing down' is when the Supreme Court provides its written judgment. The Company does not know when this will happen.
The appeal was launched to overturn the decision by the Administrative Tribunal in Samarinda, East Kalimantan in relation to the revocation of the four mining licenses that comprise the East Kutai Coal Project (Churchill 75% interest).
Churchill Mining’s Chairman, David Quinlivan commented, “It’s disappointing to see this notation on the case register. We are determined to continue to seek a legitimate remedy for our shareholders and protect our rights as a foreign investor in Indonesia.”
When further information is available, the Company will provide an update on the Supreme Court's decision and, as appropriate, its steps in relation to the Civil Review of that decision, the statement further said.
International Arbitration under the United Kingdom - Indonesia Bilateral Investment Treaty
Churchill will now look to accelerate the filing of its claim at the International Centre for Settlement of Investment Disputes in Washington D.C. against the Republic of Indonesia. The Company has not received any response to its formal letter sent 22 November, 2011 to the Republic of Indonesia seeking an amicable and commercial resolution.
The letter highlighted that following a significant investment in exploration, Churchill identified a world class thermal coal deposit in East Kalimantan, only to be subjected to a sustained campaign designed to expropriate Churchill’s legitimate rights to develop this deposit.
The Company will now move its attention to preparing and filing a claim against the Republic of Indonesia for direct breaches of Indonesia’s investment laws and Indonesia’s obligations under international investment treaties.
The Company’s solicitors are already well advanced in the claim preparation and expect to file the Request for Arbitration shortly.
Source:Churchill Mining
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Wednesday, 18 July 12
SHIP PRICES HAVE FALLEN RAPIDLY THIS YEAR, FAVORING INVESTORS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The price for a 5 year old Capesize dry bulk carrier of 172,000 dwt has fallen to about $33,4mil from $42.9 at the end of June 2011, while at end of ...
Saturday, 14 July 12
FREIGHT MARKET SEEMS TO BE QUITE VOLATILE - VISTAAR
COALspot.com - The market seems to be quite volatile with the trend changing almost every week. This week all the segments were down except for Pana ...
Friday, 13 July 12
TRANSCOAL MINERGY HAS RECEIVED PMA STATUS IN INDONESIA
COALspot.com - PT Transcoal Minergy (“TCM”) has received official foreign owned company status from the Capital Investment Coordinating ...
Thursday, 12 July 12
LACK OF CAPESIZE DEMAND DRAGS DRY BULK MARKET LOWER - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
A lack of demand for the larger Capesize dry bulk carriers had as a result the fall of the industry’s benchmark, the BDI (Baltic Dry Index), w ...
Thursday, 12 July 12
RIO TINTO'S SENIOR MANAGEMENT CHANGES
COALspot.com - Rio Tinto is making changes to its senior management team as chief financial officer (CFO) Guy Elliott has decided to retire at the e ...
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- Mercator Lines Limited - India
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- Georgia Ports Authority, United States
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- Economic Council, Georgia
- Commonwealth Bank - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Directorate Of Revenue Intelligence - India
- San Jose City I Power Corp, Philippines
- Samtan Co., Ltd - South Korea
- Leighton Contractors Pty Ltd - Australia
- Posco Energy - South Korea
- Bangladesh Power Developement Board
- Ministry of Finance - Indonesia
- Power Finance Corporation Ltd., India
- Binh Thuan Hamico - Vietnam
- Carbofer General Trading SA - India
- Simpson Spence & Young - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Kepco SPC Power Corporation, Philippines
- Goldman Sachs - Singapore
- Formosa Plastics Group - Taiwan
- Petron Corporation, Philippines
- Central Electricity Authority - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Malabar Cements Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- IEA Clean Coal Centre - UK
- Trasteel International SA, Italy
- Bukit Makmur.PT - Indonesia
- Semirara Mining Corp, Philippines
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- Videocon Industries ltd - India
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- New Zealand Coal & Carbon
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- PowerSource Philippines DevCo
- The University of Queensland
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- Energy Development Corp, Philippines
- Sarangani Energy Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- Bhoruka Overseas - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Gujarat Sidhee Cement - India
- Minerals Council of Australia
- Jaiprakash Power Ventures ltd
- Alfred C Toepfer International GmbH - Germany
- Neyveli Lignite Corporation Ltd, - India
- Gujarat Electricity Regulatory Commission - India
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- Holcim Trading Pte Ltd - Singapore
- Wood Mackenzie - Singapore
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- Semirara Mining and Power Corporation, Philippines
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- Altura Mining Limited, Indonesia
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- Central Java Power - Indonesia
- Coal and Oil Company - UAE
- TeaM Sual Corporation - Philippines
- Ministry of Mines - Canada
- Aditya Birla Group - India
- International Coal Ventures Pvt Ltd - India
- Indika Energy - Indonesia
- GAC Shipping (India) Pvt Ltd
- Karaikal Port Pvt Ltd - India
- Essar Steel Hazira Ltd - India
- Tamil Nadu electricity Board
- Borneo Indobara - Indonesia
- Thiess Contractors Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Indogreen Group - Indonesia
- Timah Investasi Mineral - Indoneisa
- The Treasury - Australian Government
- Mintek Dendrill Indonesia
- Siam City Cement PLC, Thailand
- Coalindo Energy - Indonesia
- Planning Commission, India
- Uttam Galva Steels Limited - India
- Merrill Lynch Commodities Europe
- Africa Commodities Group - South Africa
- GVK Power & Infra Limited - India
- Meenaskhi Energy Private Limited - India
- Kideco Jaya Agung - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Orica Mining Services - Indonesia
- Port Waratah Coal Services - Australia
- McConnell Dowell - Australia
- Rashtriya Ispat Nigam Limited - India
- The State Trading Corporation of India Ltd
- Larsen & Toubro Limited - India
- Ambuja Cements Ltd - India
- Price Waterhouse Coopers - Russia
- Sinarmas Energy and Mining - Indonesia
- Star Paper Mills Limited - India
- Oldendorff Carriers - Singapore
- Standard Chartered Bank - UAE
- Mercuria Energy - Indonesia
- Therma Luzon, Inc, Philippines
- Parliament of New Zealand
- Madhucon Powers Ltd - India
- Eastern Coal Council - USA
- Barasentosa Lestari - Indonesia
- South Luzon Thermal Energy Corporation
- Sakthi Sugars Limited - India
- Siam City Cement - Thailand
- Aboitiz Power Corporation - Philippines
- Electricity Generating Authority of Thailand
- Makarim & Taira - Indonesia
- Indo Tambangraya Megah - Indonesia
- White Energy Company Limited
- Indian Oil Corporation Limited
- Thai Mozambique Logistica
- Miang Besar Coal Terminal - Indonesia
- Kaltim Prima Coal - Indonesia
- SMG Consultants - Indonesia
- Australian Coal Association
- PNOC Exploration Corporation - Philippines
- Latin American Coal - Colombia
- SMC Global Power, Philippines
- Independent Power Producers Association of India
- Jorong Barutama Greston.PT - Indonesia
- CIMB Investment Bank - Malaysia
- Savvy Resources Ltd - HongKong
- Directorate General of MIneral and Coal - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Global Green Power PLC Corporation, Philippines
- Romanian Commodities Exchange
- Grasim Industreis Ltd - India
- Jindal Steel & Power Ltd - India
- OPG Power Generation Pvt Ltd - India
- London Commodity Brokers - England
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Cement Manufacturers Association - India
- Sojitz Corporation - Japan
- Dalmia Cement Bharat India
- Interocean Group of Companies - India
- Eastern Energy - Thailand
- Indonesian Coal Mining Association
- Bukit Baiduri Energy - Indonesia
- Orica Australia Pty. Ltd.
- Australian Commodity Traders Exchange
- Cigading International Bulk Terminal - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Antam Resourcindo - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Global Business Power Corporation, Philippines
- Singapore Mercantile Exchange
- Heidelberg Cement - Germany
- Global Coal Blending Company Limited - Australia
- Marubeni Corporation - India
- TNB Fuel Sdn Bhd - Malaysia
- Electricity Authority, New Zealand
- GMR Energy Limited - India
- Xindia Steels Limited - India
- Salva Resources Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Bharathi Cement Corporation - India
- Edison Trading Spa - Italy
- Renaissance Capital - South Africa
- Intertek Mineral Services - Indonesia
- Tata Chemicals Ltd - India
- Attock Cement Pakistan Limited
- Lanco Infratech Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- India Bulls Power Limited - India
- Gujarat Mineral Development Corp Ltd - India
- CNBM International Corporation - China
- Bulk Trading Sa - Switzerland
- Anglo American - United Kingdom
- European Bulk Services B.V. - Netherlands
- MS Steel International - UAE
- PetroVietnam Power Coal Import and Supply Company
- ICICI Bank Limited - India
- Bayan Resources Tbk. - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Meralco Power Generation, Philippines
- Globalindo Alam Lestari - Indonesia
- Kobexindo Tractors - Indoneisa
- IHS Mccloskey Coal Group - USA
- Indian Energy Exchange, India
- VISA Power Limited - India
- Ind-Barath Power Infra Limited - India
- Coastal Gujarat Power Limited - India
- Baramulti Group, Indonesia
- Parry Sugars Refinery, India
- Maheswari Brothers Coal Limited - India
- Kalimantan Lumbung Energi - Indonesia
- LBH Netherlands Bv - Netherlands
- Energy Link Ltd, New Zealand
- Banpu Public Company Limited - Thailand
- Straits Asia Resources Limited - Singapore
- Bhatia International Limited - India
- Metalloyd Limited - United Kingdom
- SN Aboitiz Power Inc, Philippines
- Kumho Petrochemical, South Korea
- Sical Logistics Limited - India
- Pendopo Energi Batubara - Indonesia
- Rio Tinto Coal - Australia
- Chamber of Mines of South Africa
- Kartika Selabumi Mining - Indonesia
- Deloitte Consulting - India
- Vizag Seaport Private Limited - India
- Mjunction Services Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- PTC India Limited - India
- ASAPP Information Group - India
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