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.
|
|
Monday, 23 January 17
THE FREIGHT MARKET DID NOT CHANGE MUCH AND WAS ALMOST AT SAME LEVELS AS LAST WEEK
COALspot.com: The Freight market did not change much and was almost at same levels as last week.
The Baltic Exchange, tracking rates for ships ...
Friday, 20 January 17
U.S. WEEKLY COAL OUTPUT ESTIMATED 15.7 MMST; UP 14.1% W/W
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 15.7 million short ton ...
Thursday, 19 January 17
KOREAN POWER UTILITY BORYEONG POWER TO IMPORT 660K TONS OF BITUMINOUS COAL FOR MARCH 2017
COALspot.com: South Korea state-owned utility Korea Midland Power (KOMIPO) issued a new tender for 590,000 Metric Tons of Bituminous coal and 7000 ...
Thursday, 19 January 17
PANAMAX RATES ARE UNDER PRESSURE IN BOTH HEMISPHERES - FEARNLEYS
Supramax
The market remained flat and the week continued at the same pace as last.
According to Fearnleys weekly dry bulk report, still more ...
Wednesday, 18 January 17
TANKER: THE CLEAN PRODUCT MARKET IS STILL NOT GIVING US ANY CLEAR SIGNS OF RECOVERY - GEORGE VASTARDIS
While we are approaching the Chinese New Year, the Clean Product market is still not giving us any clear signs of recovery, especially on The East ...
|
|
|
Showing 2146 to 2150 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Sical Logistics Limited - India
- SMC Global Power, Philippines
- Tata Chemicals Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Meenaskhi Energy Private Limited - India
- Baramulti Group, Indonesia
- Bangladesh Power Developement Board
- Coalindo Energy - Indonesia
- Ministry of Finance - Indonesia
- Independent Power Producers Association of India
- Essar Steel Hazira Ltd - India
- Kumho Petrochemical, South Korea
- Edison Trading Spa - Italy
- Mercuria Energy - Indonesia
- Marubeni Corporation - India
- Electricity Generating Authority of Thailand
- Australian Coal Association
- SN Aboitiz Power Inc, Philippines
- Samtan Co., Ltd - South Korea
- MS Steel International - UAE
- Iligan Light & Power Inc, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Kepco SPC Power Corporation, Philippines
- CIMB Investment Bank - Malaysia
- GAC Shipping (India) Pvt Ltd
- Rio Tinto Coal - Australia
- Intertek Mineral Services - Indonesia
- LBH Netherlands Bv - Netherlands
- Meralco Power Generation, Philippines
- Maheswari Brothers Coal Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Mjunction Services Limited - India
- Sarangani Energy Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- VISA Power Limited - India
- Economic Council, Georgia
- SMG Consultants - Indonesia
- Tamil Nadu electricity Board
- GMR Energy Limited - India
- OPG Power Generation Pvt Ltd - India
- Central Java Power - Indonesia
- Global Coal Blending Company Limited - Australia
- PowerSource Philippines DevCo
- Ind-Barath Power Infra Limited - India
- Deloitte Consulting - India
- PetroVietnam Power Coal Import and Supply Company
- Sojitz Corporation - Japan
- Ministry of Mines - Canada
- Vedanta Resources Plc - India
- Riau Bara Harum - Indonesia
- Mintek Dendrill Indonesia
- Straits Asia Resources Limited - Singapore
- Uttam Galva Steels Limited - India
- Toyota Tsusho Corporation, Japan
- Simpson Spence & Young - Indonesia
- Semirara Mining Corp, Philippines
- Alfred C Toepfer International GmbH - Germany
- Kartika Selabumi Mining - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Sindya Power Generating Company Private Ltd
- Bukit Makmur.PT - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Makarim & Taira - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Salva Resources Pvt Ltd - India
- Cement Manufacturers Association - India
- Orica Mining Services - Indonesia
- San Jose City I Power Corp, Philippines
- Merrill Lynch Commodities Europe
- Mercator Lines Limited - India
- The University of Queensland
- Ceylon Electricity Board - Sri Lanka
- Binh Thuan Hamico - Vietnam
- Kideco Jaya Agung - Indonesia
- Madhucon Powers Ltd - India
- Bulk Trading Sa - Switzerland
- Eastern Energy - Thailand
- Chettinad Cement Corporation Ltd - India
- Indo Tambangraya Megah - Indonesia
- Thiess Contractors Indonesia
- Trasteel International SA, Italy
- Singapore Mercantile Exchange
- Dalmia Cement Bharat India
- The Treasury - Australian Government
- Parliament of New Zealand
- Miang Besar Coal Terminal - Indonesia
- Metalloyd Limited - United Kingdom
- Globalindo Alam Lestari - Indonesia
- Grasim Industreis Ltd - India
- Videocon Industries ltd - India
- Indian Energy Exchange, India
- Gujarat Mineral Development Corp Ltd - India
- Sree Jayajothi Cements Limited - India
- Maharashtra Electricity Regulatory Commission - India
- TNB Fuel Sdn Bhd - Malaysia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Offshore Bulk Terminal Pte Ltd, Singapore
- CNBM International Corporation - China
- Coastal Gujarat Power Limited - India
- Ministry of Transport, Egypt
- Coal and Oil Company - UAE
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Formosa Plastics Group - Taiwan
- Thai Mozambique Logistica
- Energy Link Ltd, New Zealand
- London Commodity Brokers - England
- European Bulk Services B.V. - Netherlands
- Energy Development Corp, Philippines
- Planning Commission, India
- Vijayanagar Sugar Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Global Green Power PLC Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- Port Waratah Coal Services - Australia
- Heidelberg Cement - Germany
- Manunggal Multi Energi - Indonesia
- Standard Chartered Bank - UAE
- Lanco Infratech Ltd - India
- Medco Energi Mining Internasional
- Xindia Steels Limited - India
- Aboitiz Power Corporation - Philippines
- Posco Energy - South Korea
- Asmin Koalindo Tuhup - Indonesia
- Anglo American - United Kingdom
- ASAPP Information Group - India
- Pipit Mutiara Jaya. PT, Indonesia
- PNOC Exploration Corporation - Philippines
- GVK Power & Infra Limited - India
- Bharathi Cement Corporation - India
- TeaM Sual Corporation - Philippines
- Holcim Trading Pte Ltd - Singapore
- Kaltim Prima Coal - Indonesia
- Bayan Resources Tbk. - Indonesia
- Electricity Authority, New Zealand
- IEA Clean Coal Centre - UK
- Georgia Ports Authority, United States
- Ambuja Cements Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Bukit Baiduri Energy - Indonesia
- Jindal Steel & Power Ltd - India
- Savvy Resources Ltd - HongKong
- Sakthi Sugars Limited - India
- Leighton Contractors Pty Ltd - Australia
- Orica Australia Pty. Ltd.
- Indian Oil Corporation Limited
- Banpu Public Company Limited - Thailand
- Interocean Group of Companies - India
- Antam Resourcindo - Indonesia
- Power Finance Corporation Ltd., India
- Attock Cement Pakistan Limited
- Kalimantan Lumbung Energi - Indonesia
- Siam City Cement PLC, Thailand
- Krishnapatnam Port Company Ltd. - India
- Kapuas Tunggal Persada - Indonesia
- Central Electricity Authority - India
- Indogreen Group - Indonesia
- Barasentosa Lestari - Indonesia
- South Luzon Thermal Energy Corporation
- Timah Investasi Mineral - Indoneisa
- Karaikal Port Pvt Ltd - India
- Agrawal Coal Company - India
- AsiaOL BioFuels Corp., Philippines
- Bhatia International Limited - India
- Jaiprakash Power Ventures ltd
- Borneo Indobara - Indonesia
- Global Business Power Corporation, Philippines
- Larsen & Toubro Limited - India
- Aditya Birla Group - India
- Semirara Mining and Power Corporation, Philippines
- Parry Sugars Refinery, India
- Star Paper Mills Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Australian Commodity Traders Exchange
- Vizag Seaport Private Limited - India
- Bhushan Steel Limited - India
- India Bulls Power Limited - India
- PTC India Limited - India
- IHS Mccloskey Coal Group - USA
- Bahari Cakrawala Sebuku - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Oldendorff Carriers - Singapore
- Goldman Sachs - Singapore
- White Energy Company Limited
- Commonwealth Bank - Australia
- Therma Luzon, Inc, Philippines
- Gujarat Sidhee Cement - India
- Bukit Asam (Persero) Tbk - Indonesia
- Price Waterhouse Coopers - Russia
- Eastern Coal Council - USA
- Rashtriya Ispat Nigam Limited - India
- Directorate Of Revenue Intelligence - India
- Romanian Commodities Exchange
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- Carbofer General Trading SA - India
- McConnell Dowell - Australia
- Wilmar Investment Holdings
- Malabar Cements Ltd - India
- Minerals Council of Australia
- Altura Mining Limited, Indonesia
- Gujarat Electricity Regulatory Commission - India
- Siam City Cement - Thailand
- Billiton Holdings Pty Ltd - Australia
- Chamber of Mines of South Africa
- Petron Corporation, Philippines
- Latin American Coal - Colombia
- ICICI Bank Limited - India
- Bhoruka Overseas - Indonesia
- New Zealand Coal & Carbon
- Africa Commodities Group - South Africa
- The State Trading Corporation of India Ltd
- Jorong Barutama Greston.PT - Indonesia
- Wood Mackenzie - Singapore
- Indonesian Coal Mining Association
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Renaissance Capital - South Africa
- Indika Energy - Indonesia
|
| |
| |
|
