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Thursday, 12 July 12
SOUTHGOBI RESOURCES ANNOUNCES NOTICE OF INVESTMENT DISPUTE FILED AGAINST MONGOLIAN GOVERNMENT
Press Release - SouthGobi Resources Ltd. (TSX: SGQ, HK: 1878) (“SouthGobi”) announced today that SGQ Coal Investment Pte. Ltd., a wholly owned subsidiary of SouthGobi that owns the Company’s Mongolian operating subsidiary SouthGobi Sands LLC (“SGS”), has filed a Notice of Investment Dispute on the Mongolian Government pursuant to the Bilateral Investment Treaty (“BIT”) between Singapore and Mongolia. The Company has filed the Notice of Investment Dispute following a determination by management that they have exhausted all other possible means to resolve an ongoing investment dispute between SGS and the Mongolian authorities.
The Notice of Investment Dispute consists of, but is not limited to, the failure by the Mineral Resources Authority of Mongolia to execute the pre-mining agreements (“PMAs”) associated with certain exploration licenses of the Company pursuant to which valid PMA applications had been lodged in 2011. The areas covered by the valid PMA applications include the resource known as Zag Suuj and certain areas associated with the broader Soumber Deposit.
The Notice of Investment Dispute triggers the dispute resolution process under the BIT whereby the Mongolian Government has a six-month cure period from the date of receipt of the notice to satisfactorily resolve the dispute through negotiations. If the negotiations are not successful, the Company will be entitled to commence conciliation/arbitration proceedings under the auspices of the International Centre for Settlement of Investment Disputes (“ICSID”) pursuant to the BIT. However in the event that the Mongolian Government fails to negotiate, ICSID arbitration proceedings may be accelerated before the six (6) months have expired.
About SouthGobi Resources
SouthGobi Resources is focused on exploration and development of its Permian-age metallurgical and thermal coal deposits in Mongolia’s South Gobi Region. The company’s flagship coal mine, Ovoot Tolgoi, is producing and selling coal to customers in China. The company plans to supply a wide range of coal products to markets in Asia.
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Wednesday, 18 July 12
SHIP PRICES HAVE FALLEN RAPIDLY THIS YEAR, FAVORING INVESTORS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The price for a 5 year old Capesize dry bulk carrier of 172,000 dwt has fallen to about $33,4mil from $42.9 at the end of June 2011, while at end of ...
Saturday, 14 July 12
FREIGHT MARKET SEEMS TO BE QUITE VOLATILE - VISTAAR
COALspot.com - The market seems to be quite volatile with the trend changing almost every week. This week all the segments were down except for Pana ...
Friday, 13 July 12
TRANSCOAL MINERGY HAS RECEIVED PMA STATUS IN INDONESIA
COALspot.com - PT Transcoal Minergy (“TCM”) has received official foreign owned company status from the Capital Investment Coordinating ...
Thursday, 12 July 12
LACK OF CAPESIZE DEMAND DRAGS DRY BULK MARKET LOWER - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
A lack of demand for the larger Capesize dry bulk carriers had as a result the fall of the industry’s benchmark, the BDI (Baltic Dry Index), w ...
Thursday, 12 July 12
RIO TINTO'S SENIOR MANAGEMENT CHANGES
COALspot.com - Rio Tinto is making changes to its senior management team as chief financial officer (CFO) Guy Elliott has decided to retire at the e ...
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- Savvy Resources Ltd - HongKong
- Bukit Baiduri Energy - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Directorate Of Revenue Intelligence - India
- Electricity Authority, New Zealand
- Bulk Trading Sa - Switzerland
- Australian Coal Association
- Gujarat Electricity Regulatory Commission - India
- The Treasury - Australian Government
- Thai Mozambique Logistica
- Manunggal Multi Energi - Indonesia
- ICICI Bank Limited - India
- Ministry of Finance - Indonesia
- Tata Chemicals Ltd - India
- Singapore Mercantile Exchange
- McConnell Dowell - Australia
- Petron Corporation, Philippines
- Price Waterhouse Coopers - Russia
- Ministry of Mines - Canada
- Indo Tambangraya Megah - Indonesia
- India Bulls Power Limited - India
- OPG Power Generation Pvt Ltd - India
- Sakthi Sugars Limited - India
- Madhucon Powers Ltd - India
- Kepco SPC Power Corporation, Philippines
- Merrill Lynch Commodities Europe
- Aditya Birla Group - India
- PetroVietnam Power Coal Import and Supply Company
- Bhushan Steel Limited - India
- Uttam Galva Steels Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Jaiprakash Power Ventures ltd
- Carbofer General Trading SA - India
- Latin American Coal - Colombia
- Global Green Power PLC Corporation, Philippines
- Ambuja Cements Ltd - India
- Commonwealth Bank - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Orica Australia Pty. Ltd.
- Cement Manufacturers Association - India
- Maharashtra Electricity Regulatory Commission - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Bukit Makmur.PT - Indonesia
- Gujarat Sidhee Cement - India
- Globalindo Alam Lestari - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Baramulti Group, Indonesia
- VISA Power Limited - India
- GMR Energy Limited - India
- Binh Thuan Hamico - Vietnam
- Indogreen Group - Indonesia
- Kartika Selabumi Mining - Indonesia
- Indonesian Coal Mining Association
- Karbindo Abesyapradhi - Indoneisa
- White Energy Company Limited
- Orica Mining Services - Indonesia
- San Jose City I Power Corp, Philippines
- Metalloyd Limited - United Kingdom
- Georgia Ports Authority, United States
- Siam City Cement - Thailand
- SMC Global Power, Philippines
- New Zealand Coal & Carbon
- Deloitte Consulting - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Siam City Cement PLC, Thailand
- Central Java Power - Indonesia
- Borneo Indobara - Indonesia
- Sarangani Energy Corporation, Philippines
- Energy Development Corp, Philippines
- Bharathi Cement Corporation - India
- Kohat Cement Company Ltd. - Pakistan
- Anglo American - United Kingdom
- Makarim & Taira - Indonesia
- Meenaskhi Energy Private Limited - India
- TeaM Sual Corporation - Philippines
- Attock Cement Pakistan Limited
- Sojitz Corporation - Japan
- Videocon Industries ltd - India
- MS Steel International - UAE
- Semirara Mining and Power Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- Jindal Steel & Power Ltd - India
- Kobexindo Tractors - Indoneisa
- Asmin Koalindo Tuhup - Indonesia
- Iligan Light & Power Inc, Philippines
- Rio Tinto Coal - Australia
- Malabar Cements Ltd - India
- Timah Investasi Mineral - Indoneisa
- Electricity Generating Authority of Thailand
- Standard Chartered Bank - UAE
- Trasteel International SA, Italy
- Dalmia Cement Bharat India
- GAC Shipping (India) Pvt Ltd
- European Bulk Services B.V. - Netherlands
- Oldendorff Carriers - Singapore
- Larsen & Toubro Limited - India
- Central Electricity Authority - India
- Grasim Industreis Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- SMG Consultants - Indonesia
- Renaissance Capital - South Africa
- Neyveli Lignite Corporation Ltd, - India
- Tamil Nadu electricity Board
- PNOC Exploration Corporation - Philippines
- Wilmar Investment Holdings
- Eastern Coal Council - USA
- Port Waratah Coal Services - Australia
- Formosa Plastics Group - Taiwan
- Independent Power Producers Association of India
- CIMB Investment Bank - Malaysia
- Energy Link Ltd, New Zealand
- Parliament of New Zealand
- Gujarat Mineral Development Corp Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Essar Steel Hazira Ltd - India
- Global Business Power Corporation, Philippines
- Banpu Public Company Limited - Thailand
- Posco Energy - South Korea
- Australian Commodity Traders Exchange
- Vedanta Resources Plc - India
- Sinarmas Energy and Mining - Indonesia
- Samtan Co., Ltd - South Korea
- Riau Bara Harum - Indonesia
- Goldman Sachs - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ministry of Transport, Egypt
- TNB Fuel Sdn Bhd - Malaysia
- The State Trading Corporation of India Ltd
- Edison Trading Spa - Italy
- Africa Commodities Group - South Africa
- PowerSource Philippines DevCo
- Agrawal Coal Company - India
- Intertek Mineral Services - Indonesia
- Wood Mackenzie - Singapore
- Mercuria Energy - Indonesia
- Eastern Energy - Thailand
- IHS Mccloskey Coal Group - USA
- Simpson Spence & Young - Indonesia
- International Coal Ventures Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Mercator Lines Limited - India
- Rashtriya Ispat Nigam Limited - India
- LBH Netherlands Bv - Netherlands
- Toyota Tsusho Corporation, Japan
- Pendopo Energi Batubara - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Karaikal Port Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- CNBM International Corporation - China
- Interocean Group of Companies - India
- Bukit Asam (Persero) Tbk - Indonesia
- London Commodity Brokers - England
- Barasentosa Lestari - Indonesia
- Chamber of Mines of South Africa
- IEA Clean Coal Centre - UK
- Sree Jayajothi Cements Limited - India
- Straits Asia Resources Limited - Singapore
- Antam Resourcindo - Indonesia
- Maheswari Brothers Coal Limited - India
- Semirara Mining Corp, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Aboitiz Power Corporation - Philippines
- AsiaOL BioFuels Corp., Philippines
- Heidelberg Cement - Germany
- South Luzon Thermal Energy Corporation
- Ind-Barath Power Infra Limited - India
- Bhoruka Overseas - Indonesia
- Marubeni Corporation - India
- Minerals Council of Australia
- Indika Energy - Indonesia
- Kaltim Prima Coal - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Coal and Oil Company - UAE
- Lanco Infratech Ltd - India
- Thiess Contractors Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Xindia Steels Limited - India
- Parry Sugars Refinery, India
- Power Finance Corporation Ltd., India
- Therma Luzon, Inc, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Mjunction Services Limited - India
- Medco Energi Mining Internasional
- Coastal Gujarat Power Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Meralco Power Generation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Economic Council, Georgia
- Sical Logistics Limited - India
- Salva Resources Pvt Ltd - India
- GVK Power & Infra Limited - India
- PTC India Limited - India
- Indian Energy Exchange, India
- ASAPP Information Group - India
- Altura Mining Limited, Indonesia
- Coalindo Energy - Indonesia
- Kumho Petrochemical, South Korea
- Leighton Contractors Pty Ltd - Australia
- SN Aboitiz Power Inc, Philippines
- Holcim Trading Pte Ltd - Singapore
- Bhatia International Limited - India
- Sindya Power Generating Company Private Ltd
- Vizag Seaport Private Limited - India
- The University of Queensland
- Chettinad Cement Corporation Ltd - India
- Indian Oil Corporation Limited
- Mintek Dendrill Indonesia
- Planning Commission, India
- Romanian Commodities Exchange
- Star Paper Mills Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Kideco Jaya Agung - Indonesia
- Bangladesh Power Developement Board
- Bayan Resources Tbk. - Indonesia
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