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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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Thursday, 26 April 12
PANAMAXES AGAIN EARN MORE THAN CAPESIZES - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The latest surge of demand for Panamaxes has led the dry bulk market to new higher ground on Monday, with the Baltic Dry Index (BDI) reaching 1,090 ...
Wednesday, 25 April 12
CHINA IMPORTS 9.76 MMT AND INDIA IMPORTS 7.03 MMT OF INDONESIAN COAL LAST MONTH
COALspot.com: Indonesia, the world largest coal exporter, shipped 30.64* million tons of coal in March 2012, compared to 27.12* million tons i ...
Monday, 23 April 12
ALTURA ENTERS INTO AGREEMENT TO ACQUIRE 2 COAL PROJECTS IN SOUTH KALIMANTAN
COALspot.com - Altura Mining Limited (ASX: AJM) has announced that it has entered into an agreement to acquire a further two (2) Mining Permits (IUP ...
Sunday, 22 April 12
THE FREIGHT MARKET EXPECTED TO REMAIN FIRM NEXT WEEK - VISTAAR
COALspot.com - The BDI has broken the psychological barrier of 1000 points and closed at 1067 points.
The cape index was slightly down by 2.48 pc ...
Saturday, 21 April 12
INDONESIAN SUB-BITUMINOUS COAL SWAPS DROP 2.61 PERCENT THIS WEEK
COALspot.com - Indonesian sub-bituminous coal swaps fell for a fifth day, according to DSP of SGX AsiaClear OTC Coal Swaps.
CFR South China Coal ...
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- Petrochimia International Co. Ltd.- Taiwan
- Attock Cement Pakistan Limited
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- Semirara Mining Corp, Philippines
- Orica Mining Services - Indonesia
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- Global Business Power Corporation, Philippines
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- Electricity Authority, New Zealand
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- Karbindo Abesyapradhi - Indoneisa
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- AsiaOL BioFuels Corp., Philippines
- Agrawal Coal Company - India
- CIMB Investment Bank - Malaysia
- IHS Mccloskey Coal Group - USA
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- Indian Oil Corporation Limited
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- Commonwealth Bank - Australia
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- Singapore Mercantile Exchange
- Independent Power Producers Association of India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Posco Energy - South Korea
- Indian Energy Exchange, India
- Timah Investasi Mineral - Indoneisa
- Eastern Coal Council - USA
- Gujarat Sidhee Cement - India
- Chamber of Mines of South Africa
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- CNBM International Corporation - China
- London Commodity Brokers - England
- Directorate Of Revenue Intelligence - India
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- Rio Tinto Coal - Australia
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- The University of Queensland
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- Medco Energi Mining Internasional
- New Zealand Coal & Carbon
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- ICICI Bank Limited - India
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- PetroVietnam Power Coal Import and Supply Company
- Bharathi Cement Corporation - India
- Standard Chartered Bank - UAE
- Straits Asia Resources Limited - Singapore
- Merrill Lynch Commodities Europe
- Holcim Trading Pte Ltd - Singapore
- Siam City Cement - Thailand
- PTC India Limited - India
- TeaM Sual Corporation - Philippines
- Intertek Mineral Services - Indonesia
- Economic Council, Georgia
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- Aditya Birla Group - India
- Deloitte Consulting - India
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- Neyveli Lignite Corporation Ltd, - India
- Price Waterhouse Coopers - Russia
- Indonesian Coal Mining Association
- Binh Thuan Hamico - Vietnam
- Chettinad Cement Corporation Ltd - India
- Ministry of Finance - Indonesia
- Malabar Cements Ltd - India
- Kumho Petrochemical, South Korea
- SMC Global Power, Philippines
- Borneo Indobara - Indonesia
- Indo Tambangraya Megah - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Energy Link Ltd, New Zealand
- Orica Australia Pty. Ltd.
- Bahari Cakrawala Sebuku - Indonesia
- Indogreen Group - Indonesia
- Sojitz Corporation - Japan
- Iligan Light & Power Inc, Philippines
- Star Paper Mills Limited - India
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- Global Coal Blending Company Limited - Australia
- Xindia Steels Limited - India
- Minerals Council of Australia
- Baramulti Group, Indonesia
- Bukit Baiduri Energy - Indonesia
- White Energy Company Limited
- European Bulk Services B.V. - Netherlands
- The Treasury - Australian Government
- Parliament of New Zealand
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- Interocean Group of Companies - India
- Sarangani Energy Corporation, Philippines
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- PNOC Exploration Corporation - Philippines
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- Kapuas Tunggal Persada - Indonesia
- Parry Sugars Refinery, India
- Mercator Lines Limited - India
- Renaissance Capital - South Africa
- Sakthi Sugars Limited - India
- Heidelberg Cement - Germany
- Port Waratah Coal Services - Australia
- Asmin Koalindo Tuhup - Indonesia
- Bhatia International Limited - India
- IEA Clean Coal Centre - UK
- Directorate General of MIneral and Coal - Indonesia
- Georgia Ports Authority, United States
- Cigading International Bulk Terminal - Indonesia
- Siam City Cement PLC, Thailand
- GN Power Mariveles Coal Plant, Philippines
- Krishnapatnam Port Company Ltd. - India
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- Ambuja Cements Ltd - India
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- Planning Commission, India
- Romanian Commodities Exchange
- Mintek Dendrill Indonesia
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- Riau Bara Harum - Indonesia
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- Globalindo Alam Lestari - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Bulk Trading Sa - Switzerland
- Billiton Holdings Pty Ltd - Australia
- Sindya Power Generating Company Private Ltd
- Africa Commodities Group - South Africa
- International Coal Ventures Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Kepco SPC Power Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
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- Electricity Generating Authority of Thailand
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- Meenaskhi Energy Private Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kohat Cement Company Ltd. - Pakistan
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