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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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- Georgia Ports Authority, United States
- Goldman Sachs - Singapore
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- Petron Corporation, Philippines
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- CIMB Investment Bank - Malaysia
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- Altura Mining Limited, Indonesia
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- Coal and Oil Company - UAE
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- Medco Energi Mining Internasional
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- Tata Chemicals Ltd - India
- Global Green Power PLC Corporation, Philippines
- Bhatia International Limited - India
- Kohat Cement Company Ltd. - Pakistan
- VISA Power Limited - India
- Australian Coal Association
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- Mercuria Energy - Indonesia
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- TeaM Sual Corporation - Philippines
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- Tamil Nadu electricity Board
- Savvy Resources Ltd - HongKong
- Interocean Group of Companies - India
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- Price Waterhouse Coopers - Russia
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- Power Finance Corporation Ltd., India
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- Minerals Council of Australia
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- Meenaskhi Energy Private Limited - India
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- The State Trading Corporation of India Ltd
- Ministry of Mines - Canada
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- Salva Resources Pvt Ltd - India
- Bhushan Steel Limited - India
- Iligan Light & Power Inc, Philippines
- Coalindo Energy - Indonesia
- Electricity Authority, New Zealand
- Thai Mozambique Logistica
- Ministry of Finance - Indonesia
- Aditya Birla Group - India
- Globalindo Alam Lestari - Indonesia
- Attock Cement Pakistan Limited
- Energy Link Ltd, New Zealand
- Bukit Baiduri Energy - Indonesia
- Binh Thuan Hamico - Vietnam
- International Coal Ventures Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Orica Australia Pty. Ltd.
- Sinarmas Energy and Mining - Indonesia
- PowerSource Philippines DevCo
- Sical Logistics Limited - India
- Krishnapatnam Port Company Ltd. - India
- Renaissance Capital - South Africa
- Barasentosa Lestari - Indonesia
- ASAPP Information Group - India
- Kartika Selabumi Mining - Indonesia
- PNOC Exploration Corporation - Philippines
- Banpu Public Company Limited - Thailand
- Siam City Cement - Thailand
- Indo Tambangraya Megah - Indonesia
- San Jose City I Power Corp, Philippines
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- Dong Bac Coal Mineral Investment Coporation - Vietnam
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- Bangladesh Power Developement Board
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- Electricity Generating Authority of Thailand
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- AsiaOL BioFuels Corp., Philippines
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- Metalloyd Limited - United Kingdom
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- Global Coal Blending Company Limited - Australia
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- Wilmar Investment Holdings
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- Asmin Koalindo Tuhup - Indonesia
- Marubeni Corporation - India
- Indika Energy - Indonesia
- Gujarat Mineral Development Corp Ltd - India
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- Posco Energy - South Korea
- MS Steel International - UAE
- Global Business Power Corporation, Philippines
- Intertek Mineral Services - Indonesia
- Karaikal Port Pvt Ltd - India
- Gujarat Sidhee Cement - India
- Maheswari Brothers Coal Limited - India
- Standard Chartered Bank - UAE
- Deloitte Consulting - India
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- Jaiprakash Power Ventures ltd
- Karbindo Abesyapradhi - Indoneisa
- Heidelberg Cement - Germany
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- Simpson Spence & Young - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Independent Power Producers Association of India
- Coastal Gujarat Power Limited - India
- Holcim Trading Pte Ltd - Singapore
- Energy Development Corp, Philippines
- Semirara Mining and Power Corporation, Philippines
- PTC India Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Planning Commission, India
- Bayan Resources Tbk. - Indonesia
- GAC Shipping (India) Pvt Ltd
- Meralco Power Generation, Philippines
- Ministry of Transport, Egypt
- GVK Power & Infra Limited - India
- Pendopo Energi Batubara - Indonesia
- Aboitiz Power Corporation - Philippines
- Grasim Industreis Ltd - India
- Bhoruka Overseas - Indonesia
- Bukit Makmur.PT - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Leighton Contractors Pty Ltd - Australia
- SN Aboitiz Power Inc, Philippines
- Indian Energy Exchange, India
- Miang Besar Coal Terminal - Indonesia
- Mjunction Services Limited - India
- Latin American Coal - Colombia
- GN Power Mariveles Coal Plant, Philippines
- Africa Commodities Group - South Africa
- Semirara Mining Corp, Philippines
- Eastern Coal Council - USA
- Parliament of New Zealand
- Larsen & Toubro Limited - India
- OPG Power Generation Pvt Ltd - India
- Wood Mackenzie - Singapore
- Toyota Tsusho Corporation, Japan
- Thiess Contractors Indonesia
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- The Treasury - Australian Government
- Billiton Holdings Pty Ltd - Australia
- Samtan Co., Ltd - South Korea
- Commonwealth Bank - Australia
- Rashtriya Ispat Nigam Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Agrawal Coal Company - India
- IHS Mccloskey Coal Group - USA
- Bahari Cakrawala Sebuku - Indonesia
- Videocon Industries ltd - India
- Chettinad Cement Corporation Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Essar Steel Hazira Ltd - India
- McConnell Dowell - Australia
- Neyveli Lignite Corporation Ltd, - India
- Rio Tinto Coal - Australia
- Singapore Mercantile Exchange
- TNB Fuel Sdn Bhd - Malaysia
- SMC Global Power, Philippines
- Antam Resourcindo - Indonesia
- Parry Sugars Refinery, India
- Orica Mining Services - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Economic Council, Georgia
- Chamber of Mines of South Africa
- Central Java Power - Indonesia
- White Energy Company Limited
- Vijayanagar Sugar Pvt Ltd - India
- Malabar Cements Ltd - India
- Kumho Petrochemical, South Korea
- India Bulls Power Limited - India
- Dalmia Cement Bharat India
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- Eastern Energy - Thailand
- Gujarat Electricity Regulatory Commission - India
- Australian Commodity Traders Exchange
- European Bulk Services B.V. - Netherlands
- Straits Asia Resources Limited - Singapore
- Mintek Dendrill Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Baramulti Group, Indonesia
- Indian Oil Corporation Limited
- Alfred C Toepfer International GmbH - Germany
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