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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, 20 April 12
PANAMAXES LEAD DRY BULK MARKET TO HIGHER GROUND - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
A rebound of demand for smaller dry bulk carriers has led the industry’s benchmark, the BDI (Baltic Dry Index) above the 1,000-point mark for ...
Friday, 20 April 12
BUMA HAS PRODUCED 2.6 MILLION TONS OF COAL IN MARCH 2012
COALspot.com - BUMA has removed 28.0 million bcm (+6.4% YoY) of overburden in March 2012 while coal production was at 2.6 million tons (+1.3% YoY).
...
Thursday, 19 April 12
FRESH COAL SALES FROM JATENERGYS JONGKANG MINES
COALspot.com - Energy company Jatenergy Ltd (ASX code JAT) announced today that it had signed a contract for an 11,000 tonne coal sale due for shipm ...
Thursday, 19 April 12
HANDY - 'POSITIVE TREND', PANAMAX - 'A FIRMER TENDENCY', CAPESIZE - 'AGAIN NEGATIVE'
Handy
The positive trend from last week continued, with more cargoes entering the market. Skaw/Passero del fixed tick above USD 4000 for US Gulf di ...
Thursday, 19 April 12
WILLIS MARINE MARKET REVIEW FORECASTS ANOTHER DIFFICULT YEAR - WILLIS GLOBAL MARINE / HELLENIC SHIPPING
After an inauspicious start, 2012 could well be "another difficult and uncertain year for the maritime industry faced with the aftermath of the ...
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- Georgia Ports Authority, United States
- Ceylon Electricity Board - Sri Lanka
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- Intertek Mineral Services - Indonesia
- Minerals Council of Australia
- Carbofer General Trading SA - India
- Billiton Holdings Pty Ltd - Australia
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- Kumho Petrochemical, South Korea
- Makarim & Taira - Indonesia
- Ministry of Finance - Indonesia
- Orica Mining Services - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Cigading International Bulk Terminal - Indonesia
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- Bank of Tokyo Mitsubishi UFJ Ltd
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- International Coal Ventures Pvt Ltd - India
- Electricity Authority, New Zealand
- Thiess Contractors Indonesia
- The Treasury - Australian Government
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- Indian Energy Exchange, India
- Indogreen Group - Indonesia
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- Kohat Cement Company Ltd. - Pakistan
- Bangladesh Power Developement Board
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- Ministry of Mines - Canada
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- Vijayanagar Sugar Pvt Ltd - India
- Chamber of Mines of South Africa
- Attock Cement Pakistan Limited
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- Salva Resources Pvt Ltd - India
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- Jindal Steel & Power Ltd - India
- Meralco Power Generation, Philippines
- The State Trading Corporation of India Ltd
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- White Energy Company Limited
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- Therma Luzon, Inc, Philippines
- Ministry of Transport, Egypt
- VISA Power Limited - India
- Riau Bara Harum - Indonesia
- Indo Tambangraya Megah - Indonesia
- Bharathi Cement Corporation - India
- Wood Mackenzie - Singapore
- Vedanta Resources Plc - India
- Banpu Public Company Limited - Thailand
- GAC Shipping (India) Pvt Ltd
- Petrochimia International Co. Ltd.- Taiwan
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- Australian Coal Association
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- Karaikal Port Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- Globalindo Alam Lestari - Indonesia
- European Bulk Services B.V. - Netherlands
- Independent Power Producers Association of India
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- Pendopo Energi Batubara - Indonesia
- MS Steel International - UAE
- Global Business Power Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- ICICI Bank Limited - India
- Dalmia Cement Bharat India
- Global Coal Blending Company Limited - Australia
- Trasteel International SA, Italy
- Romanian Commodities Exchange
- CIMB Investment Bank - Malaysia
- Larsen & Toubro Limited - India
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- Metalloyd Limited - United Kingdom
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- Lanco Infratech Ltd - India
- Vizag Seaport Private Limited - India
- Parliament of New Zealand
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- Central Java Power - Indonesia
- Ambuja Cements Ltd - India
- Renaissance Capital - South Africa
- Bhatia International Limited - India
- Sojitz Corporation - Japan
- Baramulti Group, Indonesia
- CNBM International Corporation - China
- Eastern Energy - Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- San Jose City I Power Corp, Philippines
- Bhoruka Overseas - Indonesia
- Agrawal Coal Company - India
- Sical Logistics Limited - India
- Energy Development Corp, Philippines
- Marubeni Corporation - India
- PowerSource Philippines DevCo
- IEA Clean Coal Centre - UK
- Eastern Coal Council - USA
- SN Aboitiz Power Inc, Philippines
- SMC Global Power, Philippines
- Deloitte Consulting - India
- London Commodity Brokers - England
- Coalindo Energy - Indonesia
- OPG Power Generation Pvt Ltd - India
- Simpson Spence & Young - Indonesia
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- Timah Investasi Mineral - Indoneisa
- GMR Energy Limited - India
- Power Finance Corporation Ltd., India
- Wilmar Investment Holdings
- Sarangani Energy Corporation, Philippines
- Borneo Indobara - Indonesia
- Kideco Jaya Agung - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Interocean Group of Companies - India
- Singapore Mercantile Exchange
- GN Power Mariveles Coal Plant, Philippines
- Bulk Trading Sa - Switzerland
- Kapuas Tunggal Persada - Indonesia
- ASAPP Information Group - India
- Kobexindo Tractors - Indoneisa
- Xindia Steels Limited - India
- Toyota Tsusho Corporation, Japan
- Mjunction Services Limited - India
- Anglo American - United Kingdom
- Goldman Sachs - Singapore
- Indian Oil Corporation Limited
- Tamil Nadu electricity Board
- Indika Energy - Indonesia
- Maheswari Brothers Coal Limited - India
- Mintek Dendrill Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Alfred C Toepfer International GmbH - Germany
- Commonwealth Bank - Australia
- McConnell Dowell - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Karbindo Abesyapradhi - Indoneisa
- Africa Commodities Group - South Africa
- Economic Council, Georgia
- Aditya Birla Group - India
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- Savvy Resources Ltd - HongKong
- Kartika Selabumi Mining - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Straits Asia Resources Limited - Singapore
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- Antam Resourcindo - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Price Waterhouse Coopers - Russia
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- The University of Queensland
- Thai Mozambique Logistica
- Manunggal Multi Energi - Indonesia
- Malabar Cements Ltd - India
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- Heidelberg Cement - Germany
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- LBH Netherlands Bv - Netherlands
- TNB Fuel Sdn Bhd - Malaysia
- New Zealand Coal & Carbon
- Medco Energi Mining Internasional
- Essar Steel Hazira Ltd - India
- Binh Thuan Hamico - Vietnam
- Posco Energy - South Korea
- AsiaOL BioFuels Corp., Philippines
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- Parry Sugars Refinery, India
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- Siam City Cement PLC, Thailand
- Planning Commission, India
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- India Bulls Power Limited - India
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- Merrill Lynch Commodities Europe
- Energy Link Ltd, New Zealand
- GVK Power & Infra Limited - India
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