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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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Friday, 04 May 12
DEMOLITION KEY FOR DRY BULK MARKET RECOVERY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The overflow of newbuilding vessels which “spilled over” into 2012 from 2011 brought the dry bulk market to a near collapse level at the ...
Thursday, 03 May 12
DRY BULK MARKET REMAINS INACTIVE, POSTING MILD DECREASE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has kept retreating this week, although at a very low pace, on the back of a lull in demand. The industry's benchmark, th ...
Thursday, 03 May 12
MINERS DEMAND LEGAL CERTAINTY ON PRE-BAN INTERIM POLICY - THE JAKARTA POST
The Jakarta Post reported that, Mining companies represented by the Indonesian Mining Association (IMA) welcomed the government’s plan to impo ...
Thursday, 03 May 12
HANDY EAST COAST INDIA - CHINA AROUND USD 7000 - FEARNLEYS AS
Handy - Stable demand in the Atlantic offered good rates for the tonnage.
USG/Cont was worth USD 17500 and more. Baltic and Black Sea appeared to ...
Wednesday, 02 May 12
CHINA BLACKOUTS HIGHLIGHT PRICING POLICY WEAKNESS - FITCH
Fitch reported that, the likelihood of further electricity blackouts in China this summer underlines Fitch's view of the basic problem f ...
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- New Zealand Coal & Carbon
- Commonwealth Bank - Australia
- Eastern Energy - Thailand
- Electricity Authority, New Zealand
- Gujarat Electricity Regulatory Commission - India
- Carbofer General Trading SA - India
- Star Paper Mills Limited - India
- Posco Energy - South Korea
- Karbindo Abesyapradhi - Indoneisa
- Siam City Cement PLC, Thailand
- Ambuja Cements Ltd - India
- Larsen & Toubro Limited - India
- Medco Energi Mining Internasional
- South Luzon Thermal Energy Corporation
- Renaissance Capital - South Africa
- Sarangani Energy Corporation, Philippines
- San Jose City I Power Corp, Philippines
- Sree Jayajothi Cements Limited - India
- IHS Mccloskey Coal Group - USA
- Miang Besar Coal Terminal - Indonesia
- Lanco Infratech Ltd - India
- Planning Commission, India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Manunggal Multi Energi - Indonesia
- Central Java Power - Indonesia
- Formosa Plastics Group - Taiwan
- Grasim Industreis Ltd - India
- Indonesian Coal Mining Association
- India Bulls Power Limited - India
- Toyota Tsusho Corporation, Japan
- Australian Coal Association
- Savvy Resources Ltd - HongKong
- Latin American Coal - Colombia
- Cigading International Bulk Terminal - Indonesia
- Sojitz Corporation - Japan
- Tata Chemicals Ltd - India
- Straits Asia Resources Limited - Singapore
- Kumho Petrochemical, South Korea
- Samtan Co., Ltd - South Korea
- SN Aboitiz Power Inc, Philippines
- Orica Australia Pty. Ltd.
- Bhoruka Overseas - Indonesia
- GAC Shipping (India) Pvt Ltd
- SMC Global Power, Philippines
- Petron Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Energy Development Corp, Philippines
- Barasentosa Lestari - Indonesia
- Sindya Power Generating Company Private Ltd
- Deloitte Consulting - India
- Bukit Baiduri Energy - Indonesia
- Wood Mackenzie - Singapore
- Meenaskhi Energy Private Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ind-Barath Power Infra Limited - India
- Kartika Selabumi Mining - Indonesia
- Indogreen Group - Indonesia
- Price Waterhouse Coopers - Russia
- ASAPP Information Group - India
- Indian Energy Exchange, India
- Kideco Jaya Agung - Indonesia
- Kobexindo Tractors - Indoneisa
- Karaikal Port Pvt Ltd - India
- MS Steel International - UAE
- Intertek Mineral Services - Indonesia
- Standard Chartered Bank - UAE
- Holcim Trading Pte Ltd - Singapore
- Vijayanagar Sugar Pvt Ltd - India
- VISA Power Limited - India
- Vedanta Resources Plc - India
- Singapore Mercantile Exchange
- Meralco Power Generation, Philippines
- Goldman Sachs - Singapore
- Simpson Spence & Young - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kepco SPC Power Corporation, Philippines
- Bharathi Cement Corporation - India
- Aboitiz Power Corporation - Philippines
- Ministry of Mines - Canada
- Salva Resources Pvt Ltd - India
- Essar Steel Hazira Ltd - India
- Bhushan Steel Limited - India
- Krishnapatnam Port Company Ltd. - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- OPG Power Generation Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- Cement Manufacturers Association - India
- Marubeni Corporation - India
- Mercator Lines Limited - India
- CIMB Investment Bank - Malaysia
- Global Business Power Corporation, Philippines
- Jindal Steel & Power Ltd - India
- Chettinad Cement Corporation Ltd - India
- PNOC Exploration Corporation - Philippines
- European Bulk Services B.V. - Netherlands
- ICICI Bank Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Makarim & Taira - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Globalindo Alam Lestari - Indonesia
- IEA Clean Coal Centre - UK
- Mjunction Services Limited - India
- Coastal Gujarat Power Limited - India
- Ministry of Transport, Egypt
- Agrawal Coal Company - India
- Altura Mining Limited, Indonesia
- Semirara Mining and Power Corporation, Philippines
- Malabar Cements Ltd - India
- Binh Thuan Hamico - Vietnam
- PowerSource Philippines DevCo
- Sakthi Sugars Limited - India
- Aditya Birla Group - India
- Tamil Nadu electricity Board
- Minerals Council of Australia
- Leighton Contractors Pty Ltd - Australia
- Directorate General of MIneral and Coal - Indonesia
- Bangladesh Power Developement Board
- Bulk Trading Sa - Switzerland
- TeaM Sual Corporation - Philippines
- Chamber of Mines of South Africa
- Timah Investasi Mineral - Indoneisa
- Neyveli Lignite Corporation Ltd, - India
- International Coal Ventures Pvt Ltd - India
- Trasteel International SA, Italy
- Kohat Cement Company Ltd. - Pakistan
- Romanian Commodities Exchange
- Rio Tinto Coal - Australia
- Energy Link Ltd, New Zealand
- Antam Resourcindo - Indonesia
- Merrill Lynch Commodities Europe
- PTC India Limited - India
- Semirara Mining Corp, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Siam City Cement - Thailand
- Maheswari Brothers Coal Limited - India
- Madhucon Powers Ltd - India
- Iligan Light & Power Inc, Philippines
- Directorate Of Revenue Intelligence - India
- The Treasury - Australian Government
- Bahari Cakrawala Sebuku - Indonesia
- Thiess Contractors Indonesia
- Billiton Holdings Pty Ltd - Australia
- Independent Power Producers Association of India
- Sical Logistics Limited - India
- Gujarat Sidhee Cement - India
- Indian Oil Corporation Limited
- McConnell Dowell - Australia
- Dalmia Cement Bharat India
- Vizag Seaport Private Limited - India
- Jorong Barutama Greston.PT - Indonesia
- GMR Energy Limited - India
- Videocon Industries ltd - India
- Heidelberg Cement - Germany
- Bayan Resources Tbk. - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Mintek Dendrill Indonesia
- Thai Mozambique Logistica
- Kaltim Prima Coal - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Jaiprakash Power Ventures ltd
- Pipit Mutiara Jaya. PT, Indonesia
- Metalloyd Limited - United Kingdom
- Edison Trading Spa - Italy
- Borneo Indobara - Indonesia
- Indika Energy - Indonesia
- Attock Cement Pakistan Limited
- Georgia Ports Authority, United States
- Riau Bara Harum - Indonesia
- Pendopo Energi Batubara - Indonesia
- Parry Sugars Refinery, India
- Ceylon Electricity Board - Sri Lanka
- Australian Commodity Traders Exchange
- Economic Council, Georgia
- Coal and Oil Company - UAE
- Parliament of New Zealand
- Eastern Coal Council - USA
- Global Coal Blending Company Limited - Australia
- Maharashtra Electricity Regulatory Commission - India
- Petrochimia International Co. Ltd.- Taiwan
- Coalindo Energy - Indonesia
- Africa Commodities Group - South Africa
- Banpu Public Company Limited - Thailand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- SMG Consultants - Indonesia
- The University of Queensland
- The State Trading Corporation of India Ltd
- Baramulti Group, Indonesia
- Bhatia International Limited - India
- Central Electricity Authority - India
- Power Finance Corporation Ltd., India
- GVK Power & Infra Limited - India
- Indo Tambangraya Megah - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- London Commodity Brokers - England
- Xindia Steels Limited - India
- Interocean Group of Companies - India
- Bukit Makmur.PT - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- White Energy Company Limited
- Port Waratah Coal Services - Australia
- LBH Netherlands Bv - Netherlands
- TNB Fuel Sdn Bhd - Malaysia
- Electricity Generating Authority of Thailand
- CNBM International Corporation - China
- Oldendorff Carriers - Singapore
- AsiaOL BioFuels Corp., Philippines
- Asmin Koalindo Tuhup - Indonesia
- Wilmar Investment Holdings
- Mercuria Energy - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Anglo American - United Kingdom
- Alfred C Toepfer International GmbH - Germany
- Uttam Galva Steels Limited - India
- Ministry of Finance - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Orica Mining Services - Indonesia
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