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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, 08 March 12
INDONESIA'S COAL SECTOR CAN BENEFIT FROM CLEARER REGULATIONS - FITCH RATINGS
Fitch Ratings says Indonesia's coal mining sector should continue to see strong growth prospects but can benefit from clearer and more predictable ...
Thursday, 08 March 12
DRY BULK MARKET ON THE RISE; CHINAS COAL IMPORTS COULD INCREASE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market kept on rising back to healthier levels yesterday, with the BDI (Baltic Dry Index) the industry’s benchmark, marking its 8 ...
Wednesday, 07 March 12
INDONESIA COAL BENCHMARK PRICE GAINS FOR SECOND MONTH
COALspot.com - Indonesia raised the monthly coal reference price for sales in March by 1.15 percent, the second increase since February.
The Mini ...
Wednesday, 07 March 12
INDONESIA TO LIMIT FOREIGN OWNERSHIP IN MINES TO 49 PERCENT WITHIN 10 YEARS OF PRODUCTION
COALspot.com - Foreign holders of mining licenses in Indonesia have to divert 51% of their stakes to Indonesian government or domestic entitie ...
Wednesday, 07 March 12
ASSESS ASIAS POTENTIAL, DEVELOPMENTS AND APPETITE FOR SHALE AT SHALE GAS SUMMIT
Press Release - Assess Asia’s Potential, Developments and Appetite for Shale at Shale Gas Summit on 23-24 Apr, 2012 in Beijing
China is rep ...
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- Meralco Power Generation, Philippines
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- Semirara Mining and Power Corporation, Philippines
- SMC Global Power, Philippines
- Kepco SPC Power Corporation, Philippines
- Carbofer General Trading SA - India
- Mintek Dendrill Indonesia
- Interocean Group of Companies - India
- Singapore Mercantile Exchange
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- Sarangani Energy Corporation, Philippines
- Posco Energy - South Korea
- TNB Fuel Sdn Bhd - Malaysia
- Binh Thuan Hamico - Vietnam
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- Semirara Mining Corp, Philippines
- Thai Mozambique Logistica
- Global Coal Blending Company Limited - Australia
- IHS Mccloskey Coal Group - USA
- Indogreen Group - Indonesia
- New Zealand Coal & Carbon
- Sical Logistics Limited - India
- Ceylon Electricity Board - Sri Lanka
- Heidelberg Cement - Germany
- Ministry of Mines - Canada
- Gujarat Electricity Regulatory Commission - India
- Eastern Energy - Thailand
- Straits Asia Resources Limited - Singapore
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- Wood Mackenzie - Singapore
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- Africa Commodities Group - South Africa
- Agrawal Coal Company - India
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- Kideco Jaya Agung - Indonesia
- Global Business Power Corporation, Philippines
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- MS Steel International - UAE
- Leighton Contractors Pty Ltd - Australia
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- Romanian Commodities Exchange
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- Indian Oil Corporation Limited
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- Bhushan Steel Limited - India
- Parliament of New Zealand
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- Indika Energy - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
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- Electricity Authority, New Zealand
- Aditya Birla Group - India
- Makarim & Taira - Indonesia
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- Alfred C Toepfer International GmbH - Germany
- SN Aboitiz Power Inc, Philippines
- PTC India Limited - India
- The Treasury - Australian Government
- Xindia Steels Limited - India
- International Coal Ventures Pvt Ltd - India
- Central Electricity Authority - India
- Pendopo Energi Batubara - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Neyveli Lignite Corporation Ltd, - India
- Gujarat Mineral Development Corp Ltd - India
- Siam City Cement PLC, Thailand
- Chamber of Mines of South Africa
- Mjunction Services Limited - India
- Sakthi Sugars Limited - India
- Billiton Holdings Pty Ltd - Australia
- VISA Power Limited - India
- Sojitz Corporation - Japan
- Aboitiz Power Corporation - Philippines
- Coal and Oil Company - UAE
- GN Power Mariveles Coal Plant, Philippines
- Indonesian Coal Mining Association
- Australian Commodity Traders Exchange
- Petron Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Cement Manufacturers Association - India
- Merrill Lynch Commodities Europe
- Barasentosa Lestari - Indonesia
- European Bulk Services B.V. - Netherlands
- Kaltim Prima Coal - Indonesia
- Ministry of Finance - Indonesia
- Maheswari Brothers Coal Limited - India
- Economic Council, Georgia
- Savvy Resources Ltd - HongKong
- Kohat Cement Company Ltd. - Pakistan
- AsiaOL BioFuels Corp., Philippines
- Ambuja Cements Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Bayan Resources Tbk. - Indonesia
- Tamil Nadu electricity Board
- PetroVietnam Power Coal Import and Supply Company
- Price Waterhouse Coopers - Russia
- Manunggal Multi Energi - Indonesia
- Salva Resources Pvt Ltd - India
- Goldman Sachs - Singapore
- Gujarat Sidhee Cement - India
- Samtan Co., Ltd - South Korea
- McConnell Dowell - Australia
- CIMB Investment Bank - Malaysia
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- Wilmar Investment Holdings
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- Essar Steel Hazira Ltd - India
- Timah Investasi Mineral - Indoneisa
- Vedanta Resources Plc - India
- ICICI Bank Limited - India
- San Jose City I Power Corp, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- SMG Consultants - Indonesia
- Videocon Industries ltd - India
- Medco Energi Mining Internasional
- Bharathi Cement Corporation - India
- Deloitte Consulting - India
- London Commodity Brokers - England
- Sinarmas Energy and Mining - Indonesia
- Bhoruka Overseas - Indonesia
- India Bulls Power Limited - India
- White Energy Company Limited
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- The State Trading Corporation of India Ltd
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- Ministry of Transport, Egypt
- Mercuria Energy - Indonesia
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- Karaikal Port Pvt Ltd - India
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- Thiess Contractors Indonesia
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- Edison Trading Spa - Italy
- Ind-Barath Power Infra Limited - India
- The University of Queensland
- Sindya Power Generating Company Private Ltd
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- Planning Commission, India
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- Intertek Mineral Services - Indonesia
- Toyota Tsusho Corporation, Japan
- Indian Energy Exchange, India
- Global Green Power PLC Corporation, Philippines
- Lanco Infratech Ltd - India
- PowerSource Philippines DevCo
- GVK Power & Infra Limited - India
- Rio Tinto Coal - Australia
- Formosa Plastics Group - Taiwan
- Renaissance Capital - South Africa
- Antam Resourcindo - Indonesia
- Riau Bara Harum - Indonesia
- Bangladesh Power Developement Board
- Commonwealth Bank - Australia
- Indo Tambangraya Megah - Indonesia
- Power Finance Corporation Ltd., India
- Borneo Indobara - Indonesia
- Metalloyd Limited - United Kingdom
- Independent Power Producers Association of India
- Eastern Coal Council - USA
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Electricity Generating Authority of Thailand
- Kartika Selabumi Mining - Indonesia
- Australian Coal Association
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- IEA Clean Coal Centre - UK
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