We welcome article submissions from experts in the areas of coal, mining,
shipping, etc.
To Submit your article please click here.
|
|
|
Wednesday, 14 December 16
INTERNATIONAL TRIBUNAL DISMISSED CHURCHILL MINING'S DAMAGES CLAIM AGAINST REPUBLIC OF INDONESIA
 The Directors of Churchill Mining plc advise that, the ICSID Tribunal (“Tribunal”) granted Indonesia’s application to dismiss the Churchill claims for damages arising out of the revocation of the mining licenses that made up the East Kutai Coal Project in East Kalimantan (“EKCP”) Indonesia.
According to Churchill, the Tribunal’s decision has included the following findings:-
(1) Thirty four (34) disputed documents were held to be not authentic;
(2) The forger of the disputed documents was most likely a person or persons acting for or on behalf of Churchill’ s Indonesian partner the Ridlatama group in collusion with a person inside the East Kutai Regency;
(3) There was no finding that Churchill or its officers were involved in any forgery;
(4) Churchill’s due diligence investigations conducted at the time of acquiring the East Kutai Coal licenses were insufficient ;
(5) The claims brought by Churchill in this arbitration are dismissed; and
(6) Churchill is ordered to pay a total of USD 9,446,528 in costs and arbitration tribunal fees.
According to media reports, Churchill's 100%-owned Australian subsidiary Planet Mining Pty, which via its 5% shareholding in PT Indonesia Coal Development also held an interest in the East Kutai Coal Project, has also filed for arbitration at ICSID.
In February 2014, the ICSID ruled in Churchill’s favour, enabling it to pursue the claim for damages against the Indonesian government.
According to the document posted on company's website, the Churchill Chairman David Quinlivan said “ We are obviously extremely disappointed by the Tribunal’s decision and the fact that the Tribunal drew no adverse inferences against Indonesia following the refusal by Mr. Isran Noor to attend the August 2015 hearing so that he could be cross-examined and the refusals by Indonesia to provide documents that the Tribunal itself considered prima facie relevant. While we are still reviewing the reasons, the Tribunal appears to have accepted that Mr. Noor was deceived into signing the exploitation licenses despite his non-appearance and his witness statement having been struck from the record. Indonesia has always conceded that the EKCP exploitation licenses were validly issued and signed and it is difficult to understand how the Tribunal found otherwise on the evidence available."
According to Churchill, the ICSID process allows Churchill to request annulment of the award by an application in writing addressed to the Secretary-General on the following grounds:
(i) that the Tribunal was not properly constituted;
(ii) that the Tribunal has manifestly exceeded its powers;
(iii) that there has been a serious departure from a fundamental rule of procedure; or
(iv) that the award has failed to state the reasons on which it is based.
Churchill believes there are grounds to annul this award and is working with its lawyers Clifford Chance LLP to determine which of the above grounds may be available.
As part of that application, Churchill would seek a stay of the costs orders that have been made. As referred to above, Churchill has been ordered to pay a total of USD 9, 446,528 in costs and arbitration tribunal fees and accordingly the suspension in trading of the Company’s shares on AIM will remain in place pending clarification of the Company’s financial position.
If you believe an article violates your rights or the rights of others, please contact us.
|
|
Wednesday, 12 April 17
SHIPPING MARKET INSIGHT - VASSILIS VASSILIOU
The first quarter of 2017 started relatively busy for the ship repair sector, with most of the repair facilities being nearly fully occupied till t ...
Monday, 10 April 17
THE CAPE INDEX WAS DOWN BY 16.32% WEEK OVER WEEK
COALspot.com: The Freight market was steady week over a week except for Cape. The cape index was down 16.32 percent week over week.
The Baltic ...
Friday, 07 April 17
INDONESIAN GOVERNMENT DECLARED SPOT COAL PRICES STAGE FIRST INCREASE OF THE YEAR
COALspot.com: Indonesian government declared coal benchmark price rose slightly in April, government data showed.
The benchmark price of Indon ...
Friday, 07 April 17
U.S WEEKLY COAL OUTPUT ALMOST FLAT WEEK OVER WEEK - EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totaled an estimated 14.5 million short tons ...
Thursday, 06 April 17
PANAMAX: THE MARKET HAS CONTINUED THE FIRM SENTIMENT FROM LAST WEEK IN BOTH HEMISPHERES - FEARNLEYS
Supramax
With holidays in Asia, the week has started very slow in Pacific. Some fixtures have still been done and levels have remained quite stab ...
|
|
|
Showing 2076 to 2080 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Chamber of Mines of South Africa
- Dalmia Cement Bharat India
- San Jose City I Power Corp, Philippines
- Xindia Steels Limited - India
- Manunggal Multi Energi - Indonesia
- Eastern Coal Council - USA
- Asmin Koalindo Tuhup - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Mintek Dendrill Indonesia
- Bharathi Cement Corporation - India
- LBH Netherlands Bv - Netherlands
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- Leighton Contractors Pty Ltd - Australia
- Larsen & Toubro Limited - India
- Eastern Energy - Thailand
- Vijayanagar Sugar Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- Semirara Mining Corp, Philippines
- Power Finance Corporation Ltd., India
- SMC Global Power, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Wilmar Investment Holdings
- Kideco Jaya Agung - Indonesia
- Thiess Contractors Indonesia
- Global Business Power Corporation, Philippines
- Rio Tinto Coal - Australia
- Holcim Trading Pte Ltd - Singapore
- Planning Commission, India
- Semirara Mining and Power Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Makarim & Taira - Indonesia
- GAC Shipping (India) Pvt Ltd
- Krishnapatnam Port Company Ltd. - India
- Toyota Tsusho Corporation, Japan
- Cigading International Bulk Terminal - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Directorate General of MIneral and Coal - Indonesia
- London Commodity Brokers - England
- Meralco Power Generation, Philippines
- Tamil Nadu electricity Board
- Siam City Cement PLC, Thailand
- Altura Mining Limited, Indonesia
- PowerSource Philippines DevCo
- Aditya Birla Group - India
- PNOC Exploration Corporation - Philippines
- Wood Mackenzie - Singapore
- TeaM Sual Corporation - Philippines
- Parliament of New Zealand
- Indika Energy - Indonesia
- Anglo American - United Kingdom
- Pipit Mutiara Jaya. PT, Indonesia
- Central Electricity Authority - India
- White Energy Company Limited
- IHS Mccloskey Coal Group - USA
- Agrawal Coal Company - India
- Directorate Of Revenue Intelligence - India
- Bukit Asam (Persero) Tbk - Indonesia
- Parry Sugars Refinery, India
- Standard Chartered Bank - UAE
- Edison Trading Spa - Italy
- Karaikal Port Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- Coastal Gujarat Power Limited - India
- Port Waratah Coal Services - Australia
- Vizag Seaport Private Limited - India
- Energy Development Corp, Philippines
- Indian Energy Exchange, India
- Riau Bara Harum - Indonesia
- Binh Thuan Hamico - Vietnam
- Cement Manufacturers Association - India
- Posco Energy - South Korea
- Straits Asia Resources Limited - Singapore
- Australian Commodity Traders Exchange
- Kumho Petrochemical, South Korea
- MS Steel International - UAE
- Simpson Spence & Young - Indonesia
- Kobexindo Tractors - Indoneisa
- AsiaOL BioFuels Corp., Philippines
- GVK Power & Infra Limited - India
- Georgia Ports Authority, United States
- Kalimantan Lumbung Energi - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sarangani Energy Corporation, Philippines
- The State Trading Corporation of India Ltd
- Jorong Barutama Greston.PT - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Maheswari Brothers Coal Limited - India
- Maharashtra Electricity Regulatory Commission - India
- VISA Power Limited - India
- Orica Australia Pty. Ltd.
- Sical Logistics Limited - India
- Heidelberg Cement - Germany
- Kapuas Tunggal Persada - Indonesia
- Mercuria Energy - Indonesia
- ICICI Bank Limited - India
- Singapore Mercantile Exchange
- Medco Energi Mining Internasional
- Salva Resources Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Lanco Infratech Ltd - India
- Indian Oil Corporation Limited
- Kepco SPC Power Corporation, Philippines
- Savvy Resources Ltd - HongKong
- Sakthi Sugars Limited - India
- Petron Corporation, Philippines
- Deloitte Consulting - India
- Timah Investasi Mineral - Indoneisa
- Independent Power Producers Association of India
- Attock Cement Pakistan Limited
- Bulk Trading Sa - Switzerland
- Barasentosa Lestari - Indonesia
- Tata Chemicals Ltd - India
- Trasteel International SA, Italy
- Electricity Generating Authority of Thailand
- SMG Consultants - Indonesia
- Siam City Cement - Thailand
- Ambuja Cements Ltd - India
- South Luzon Thermal Energy Corporation
- Global Coal Blending Company Limited - Australia
- Formosa Plastics Group - Taiwan
- The University of Queensland
- Metalloyd Limited - United Kingdom
- Orica Mining Services - Indonesia
- Interocean Group of Companies - India
- Ind-Barath Power Infra Limited - India
- Malabar Cements Ltd - India
- Antam Resourcindo - Indonesia
- Mjunction Services Limited - India
- Commonwealth Bank - Australia
- Sojitz Corporation - Japan
- Banpu Public Company Limited - Thailand
- Africa Commodities Group - South Africa
- CNBM International Corporation - China
- The Treasury - Australian Government
- Bank of Tokyo Mitsubishi UFJ Ltd
- Essar Steel Hazira Ltd - India
- Sindya Power Generating Company Private Ltd
- ASAPP Information Group - India
- Star Paper Mills Limited - India
- Central Java Power - Indonesia
- Ministry of Finance - Indonesia
- Madhucon Powers Ltd - India
- GMR Energy Limited - India
- Australian Coal Association
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Intertek Mineral Services - Indonesia
- Sree Jayajothi Cements Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indonesian Coal Mining Association
- Romanian Commodities Exchange
- Marubeni Corporation - India
- Indogreen Group - Indonesia
- Goldman Sachs - Singapore
- Economic Council, Georgia
- Neyveli Lignite Corporation Ltd, - India
- McConnell Dowell - Australia
- International Coal Ventures Pvt Ltd - India
- Mercator Lines Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Gujarat Mineral Development Corp Ltd - India
- Gujarat Sidhee Cement - India
- European Bulk Services B.V. - Netherlands
- Price Waterhouse Coopers - Russia
- Gujarat Electricity Regulatory Commission - India
- OPG Power Generation Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- IEA Clean Coal Centre - UK
- Kohat Cement Company Ltd. - Pakistan
- Renaissance Capital - South Africa
- Bayan Resources Tbk. - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Merrill Lynch Commodities Europe
- Bhatia International Limited - India
- SN Aboitiz Power Inc, Philippines
- Oldendorff Carriers - Singapore
- Miang Besar Coal Terminal - Indonesia
- Baramulti Group, Indonesia
- Ministry of Transport, Egypt
- Bukit Makmur.PT - Indonesia
- Bukit Baiduri Energy - Indonesia
- Pendopo Energi Batubara - Indonesia
- Videocon Industries ltd - India
- Therma Luzon, Inc, Philippines
- Bhoruka Overseas - Indonesia
- Electricity Authority, New Zealand
- Minerals Council of Australia
- Chettinad Cement Corporation Ltd - India
- Kaltim Prima Coal - Indonesia
- Energy Link Ltd, New Zealand
- Meenaskhi Energy Private Limited - India
- Bhushan Steel Limited - India
- Globalindo Alam Lestari - Indonesia
- Borneo Indobara - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Carbofer General Trading SA - India
- Aboitiz Power Corporation - Philippines
- Latin American Coal - Colombia
- New Zealand Coal & Carbon
- Jindal Steel & Power Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Coalindo Energy - Indonesia
- Kartika Selabumi Mining - Indonesia
- India Bulls Power Limited - India
- PTC India Limited - India
- Vedanta Resources Plc - India
- Bangladesh Power Developement Board
- Indo Tambangraya Megah - Indonesia
- Thai Mozambique Logistica
- Grasim Industreis Ltd - India
- Global Green Power PLC Corporation, Philippines
- Coal and Oil Company - UAE
- Uttam Galva Steels Limited - India
- Ministry of Mines - Canada
- Sinarmas Energy and Mining - Indonesia
- Alfred C Toepfer International GmbH - Germany
|
| |
| |
|
