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