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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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Wednesday, 11 April 12
TWO PERCENT OF IBP CONCESSION CONTAINS 42 MMT OF COAL
COALspot.com - 42.35 million ton of coal found in just 2% of PT Insani Bara Perkasa’s total concession area of 24,477 hectare.
Accord ...
Wednesday, 11 April 12
DRY BULK MARKET STILL SUBDUED, RECOVERY NOT YET SEEN - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market entered the new week after the past days of easter holidays in western countries in a subdued mood. The industry’s benchma ...
Monday, 09 April 12
WEEKLY DRY MARKET OVERVIEW - MARIA BERTZELETOU, HELLENIC SHIPPING
The first week of April ended with the Baltic Dry Index falling below 950 points, before Catholic Easter, and capesizes showing a modest upturn with ...
Sunday, 08 April 12
CHARTER RATES COULD CONTINUE TO BE SOFT NEXT WEEK - VISTAAR
COALspot.com - The BDI was almost at same levels closing slightly lower by 0.64 pct at 928 points.
The Cape index was up by 6.73 pct closing at ...
Friday, 06 April 12
INDONESIAN HBA FALL TO LOWEST LEVEL SINCE JANUARY 2011
COALspot.com - Indonesian HBA fall to lowest level since January 2011 this month. The monthly coal reference price for coal sales in April fal ...
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- Directorate Of Revenue Intelligence - India
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- Parliament of New Zealand
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- Commonwealth Bank - Australia
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- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
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- Maheswari Brothers Coal Limited - India
- Global Business Power Corporation, Philippines
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- Bharathi Cement Corporation - India
- LBH Netherlands Bv - Netherlands
- Gujarat Electricity Regulatory Commission - India
- Rio Tinto Coal - Australia
- Eastern Energy - Thailand
- Marubeni Corporation - India
- Ambuja Cements Ltd - India
- San Jose City I Power Corp, Philippines
- Petron Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Deloitte Consulting - India
- Coal and Oil Company - UAE
- Jaiprakash Power Ventures ltd
- Kobexindo Tractors - Indoneisa
- The University of Queensland
- Lanco Infratech Ltd - India
- Ministry of Finance - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- White Energy Company Limited
- India Bulls Power Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Global Green Power PLC Corporation, Philippines
- Georgia Ports Authority, United States
- European Bulk Services B.V. - Netherlands
- Thiess Contractors Indonesia
- Semirara Mining and Power Corporation, Philippines
- Economic Council, Georgia
- Port Waratah Coal Services - Australia
- Goldman Sachs - Singapore
- Agrawal Coal Company - India
- Kohat Cement Company Ltd. - Pakistan
- Toyota Tsusho Corporation, Japan
- Altura Mining Limited, Indonesia
- Bukit Baiduri Energy - Indonesia
- Indogreen Group - Indonesia
- CNBM International Corporation - China
- Therma Luzon, Inc, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- Thai Mozambique Logistica
- Tamil Nadu electricity Board
- Formosa Plastics Group - Taiwan
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- The State Trading Corporation of India Ltd
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- Timah Investasi Mineral - Indoneisa
- Tata Chemicals Ltd - India
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- Heidelberg Cement - Germany
- ICICI Bank Limited - India
- Sakthi Sugars Limited - India
- Sinarmas Energy and Mining - Indonesia
- Chamber of Mines of South Africa
- London Commodity Brokers - England
- IHS Mccloskey Coal Group - USA
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- Semirara Mining Corp, Philippines
- Coalindo Energy - Indonesia
- Ministry of Mines - Canada
- Pipit Mutiara Jaya. PT, Indonesia
- Metalloyd Limited - United Kingdom
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- Wood Mackenzie - Singapore
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- Price Waterhouse Coopers - Russia
- Global Coal Blending Company Limited - Australia
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- Electricity Authority, New Zealand
- Kepco SPC Power Corporation, Philippines
- Antam Resourcindo - Indonesia
- Samtan Co., Ltd - South Korea
- Billiton Holdings Pty Ltd - Australia
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- Planning Commission, India
- Sindya Power Generating Company Private Ltd
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- Asia Pacific Energy Resources Ventures Inc, Philippines
- TeaM Sual Corporation - Philippines
- Mercuria Energy - Indonesia
- Meralco Power Generation, Philippines
- Intertek Mineral Services - Indonesia
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- Manunggal Multi Energi - Indonesia
- Leighton Contractors Pty Ltd - Australia
- SN Aboitiz Power Inc, Philippines
- Miang Besar Coal Terminal - Indonesia
- Siam City Cement PLC, Thailand
- Star Paper Mills Limited - India
- OPG Power Generation Pvt Ltd - India
- Cement Manufacturers Association - India
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- Orica Mining Services - Indonesia
- Power Finance Corporation Ltd., India
- Ceylon Electricity Board - Sri Lanka
- Malabar Cements Ltd - India
- ASAPP Information Group - India
- Attock Cement Pakistan Limited
- Barasentosa Lestari - Indonesia
- PowerSource Philippines DevCo
- Offshore Bulk Terminal Pte Ltd, Singapore
- Wilmar Investment Holdings
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- Sarangani Energy Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- VISA Power Limited - India
- Simpson Spence & Young - Indonesia
- Parry Sugars Refinery, India
- Carbofer General Trading SA - India
- Eastern Coal Council - USA
- Bahari Cakrawala Sebuku - Indonesia
- Binh Thuan Hamico - Vietnam
- Central Electricity Authority - India
- Krishnapatnam Port Company Ltd. - India
- Indonesian Coal Mining Association
- Energy Link Ltd, New Zealand
- Minerals Council of Australia
- Sojitz Corporation - Japan
- Romanian Commodities Exchange
- Standard Chartered Bank - UAE
- Bank of Tokyo Mitsubishi UFJ Ltd
- Central Java Power - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Mjunction Services Limited - India
- PTC India Limited - India
- Singapore Mercantile Exchange
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Medco Energi Mining Internasional
- Karaikal Port Pvt Ltd - India
- Orica Australia Pty. Ltd.
- Makarim & Taira - Indonesia
- CIMB Investment Bank - Malaysia
- MS Steel International - UAE
- GN Power Mariveles Coal Plant, Philippines
- Indika Energy - Indonesia
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- Africa Commodities Group - South Africa
- Trasteel International SA, Italy
- Essar Steel Hazira Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- McConnell Dowell - Australia
- Merrill Lynch Commodities Europe
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- Alfred C Toepfer International GmbH - Germany
- Aboitiz Power Corporation - Philippines
- Ministry of Transport, Egypt
- Oldendorff Carriers - Singapore
- Indian Oil Corporation Limited
- Bukit Asam (Persero) Tbk - Indonesia
- Sree Jayajothi Cements Limited - India
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