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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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- Aditya Birla Group - India
- Sinarmas Energy and Mining - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Singapore Mercantile Exchange
- Planning Commission, India
- South Luzon Thermal Energy Corporation
- Alfred C Toepfer International GmbH - Germany
- Indo Tambangraya Megah - Indonesia
- Central Java Power - Indonesia
- Riau Bara Harum - Indonesia
- Sakthi Sugars Limited - India
- Independent Power Producers Association of India
- Asmin Koalindo Tuhup - Indonesia
- Parliament of New Zealand
- Straits Asia Resources Limited - Singapore
- Ind-Barath Power Infra Limited - India
- Minerals Council of Australia
- Timah Investasi Mineral - Indoneisa
- Karaikal Port Pvt Ltd - India
- The University of Queensland
- Holcim Trading Pte Ltd - Singapore
- ICICI Bank Limited - India
- Oldendorff Carriers - Singapore
- Tata Chemicals Ltd - India
- Meralco Power Generation, Philippines
- Indonesian Coal Mining Association
- Gujarat Sidhee Cement - India
- Australian Coal Association
- Sarangani Energy Corporation, Philippines
- Power Finance Corporation Ltd., India
- Ministry of Transport, Egypt
- European Bulk Services B.V. - Netherlands
- Electricity Authority, New Zealand
- Electricity Generating Authority of Thailand
- Coal and Oil Company - UAE
- Marubeni Corporation - India
- MS Steel International - UAE
- Toyota Tsusho Corporation, Japan
- Pipit Mutiara Jaya. PT, Indonesia
- Banpu Public Company Limited - Thailand
- Mercuria Energy - Indonesia
- Kobexindo Tractors - Indoneisa
- Kapuas Tunggal Persada - Indonesia
- LBH Netherlands Bv - Netherlands
- Mintek Dendrill Indonesia
- Metalloyd Limited - United Kingdom
- Vizag Seaport Private Limited - India
- Barasentosa Lestari - Indonesia
- Krishnapatnam Port Company Ltd. - India
- GVK Power & Infra Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Carbofer General Trading SA - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Savvy Resources Ltd - HongKong
- Bahari Cakrawala Sebuku - Indonesia
- Kartika Selabumi Mining - Indonesia
- Deloitte Consulting - India
- Ministry of Mines - Canada
- Goldman Sachs - Singapore
- Xindia Steels Limited - India
- Salva Resources Pvt Ltd - India
- Grasim Industreis Ltd - India
- Intertek Mineral Services - Indonesia
- PNOC Exploration Corporation - Philippines
- Lanco Infratech Ltd - India
- Global Business Power Corporation, Philippines
- Indian Energy Exchange, India
- The Treasury - Australian Government
- Africa Commodities Group - South Africa
- Formosa Plastics Group - Taiwan
- International Coal Ventures Pvt Ltd - India
- Kideco Jaya Agung - Indonesia
- Sindya Power Generating Company Private Ltd
- Jorong Barutama Greston.PT - Indonesia
- Siam City Cement - Thailand
- Central Electricity Authority - India
- Siam City Cement PLC, Thailand
- Therma Luzon, Inc, Philippines
- Uttam Galva Steels Limited - India
- PTC India Limited - India
- Australian Commodity Traders Exchange
- Latin American Coal - Colombia
- Borneo Indobara - Indonesia
- San Jose City I Power Corp, Philippines
- Eastern Coal Council - USA
- Ambuja Cements Ltd - India
- Commonwealth Bank - Australia
- SMC Global Power, Philippines
- Sojitz Corporation - Japan
- Mjunction Services Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- CIMB Investment Bank - Malaysia
- Neyveli Lignite Corporation Ltd, - India
- Thai Mozambique Logistica
- Cigading International Bulk Terminal - Indonesia
- Orica Australia Pty. Ltd.
- Larsen & Toubro Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- London Commodity Brokers - England
- GAC Shipping (India) Pvt Ltd
- PetroVietnam Power Coal Import and Supply Company
- Pendopo Energi Batubara - Indonesia
- Merrill Lynch Commodities Europe
- Cement Manufacturers Association - India
- IHS Mccloskey Coal Group - USA
- Agrawal Coal Company - India
- SMG Consultants - Indonesia
- Georgia Ports Authority, United States
- Kumho Petrochemical, South Korea
- Jindal Steel & Power Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Rashtriya Ispat Nigam Limited - India
- Thiess Contractors Indonesia
- Petron Corporation, Philippines
- Attock Cement Pakistan Limited
- Energy Link Ltd, New Zealand
- ASAPP Information Group - India
- Iligan Light & Power Inc, Philippines
- OPG Power Generation Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Videocon Industries ltd - India
- Bayan Resources Tbk. - Indonesia
- Interocean Group of Companies - India
- Globalindo Alam Lestari - Indonesia
- Economic Council, Georgia
- Eastern Energy - Thailand
- Indika Energy - Indonesia
- VISA Power Limited - India
- New Zealand Coal & Carbon
- Sree Jayajothi Cements Limited - India
- Bharathi Cement Corporation - India
- Manunggal Multi Energi - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- White Energy Company Limited
- Standard Chartered Bank - UAE
- Tamil Nadu electricity Board
- Ministry of Finance - Indonesia
- Coastal Gujarat Power Limited - India
- PowerSource Philippines DevCo
- McConnell Dowell - Australia
- Miang Besar Coal Terminal - Indonesia
- IEA Clean Coal Centre - UK
- Kaltim Prima Coal - Indonesia
- Chamber of Mines of South Africa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indian Oil Corporation Limited
- Binh Thuan Hamico - Vietnam
- Medco Energi Mining Internasional
- Karbindo Abesyapradhi - Indoneisa
- Bhushan Steel Limited - India
- Bukit Baiduri Energy - Indonesia
- Wilmar Investment Holdings
- Edison Trading Spa - Italy
- CNBM International Corporation - China
- Vedanta Resources Plc - India
- Aboitiz Power Corporation - Philippines
- Dalmia Cement Bharat India
- Global Green Power PLC Corporation, Philippines
- Jaiprakash Power Ventures ltd
- Bhatia International Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Billiton Holdings Pty Ltd - Australia
- Port Waratah Coal Services - Australia
- Madhucon Powers Ltd - India
- Star Paper Mills Limited - India
- Samtan Co., Ltd - South Korea
- Rio Tinto Coal - Australia
- Sical Logistics Limited - India
- Meenaskhi Energy Private Limited - India
- Renaissance Capital - South Africa
- Coalindo Energy - Indonesia
- The State Trading Corporation of India Ltd
- Ceylon Electricity Board - Sri Lanka
- Altura Mining Limited, Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Leighton Contractors Pty Ltd - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Parry Sugars Refinery, India
- Antam Resourcindo - Indonesia
- TeaM Sual Corporation - Philippines
- Posco Energy - South Korea
- Romanian Commodities Exchange
- TNB Fuel Sdn Bhd - Malaysia
- Semirara Mining Corp, Philippines
- Gujarat Electricity Regulatory Commission - India
- Indogreen Group - Indonesia
- Mercator Lines Limited - India
- Trasteel International SA, Italy
- Orica Mining Services - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- Baramulti Group, Indonesia
- Energy Development Corp, Philippines
- Chettinad Cement Corporation Ltd - India
- Wood Mackenzie - Singapore
- SN Aboitiz Power Inc, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Directorate Of Revenue Intelligence - India
- India Bulls Power Limited - India
- Bangladesh Power Developement Board
- Essar Steel Hazira Ltd - India
- Malabar Cements Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Price Waterhouse Coopers - Russia
- Heidelberg Cement - Germany
- GN Power Mariveles Coal Plant, Philippines
- GMR Energy Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Semirara Mining and Power Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- Global Coal Blending Company Limited - Australia
- Simpson Spence & Young - Indonesia
- Makarim & Taira - Indonesia
- Maheswari Brothers Coal Limited - India
- Bhoruka Overseas - Indonesia
- Kepco SPC Power Corporation, Philippines
- Anglo American - United Kingdom
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