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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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Wednesday, 18 April 12
INDONESIA TO INTRODUCE EXPORT DUTY ON MINERAL ORES BY 6 MAY 2012
The Indonesian government is scheduled to issue regulation on export duty for minerals before May 6, 2012.
According to Bisnis Indonesia, as quot ...
Sunday, 15 April 12
THE SPOT FIXTURE RATES FOR SUPRAMAX IN SE ASIA SAW SOME SOFTENING OF CHARTER RATES - VISTAAR
COALspot.com - The market seem to be holding and except for Supramax and handy size index all other index was up with BDI up by 4.74 pct closing at ...
Friday, 13 April 12
MINERS OPPOSE GOVTS EXPORT TAX PLAN - THE JAKARTA POST
The Jakarta Post reported that, Indonesian mining companies have strongly protested the government’s plan to impose a 25 percent export tax on ...
Friday, 13 April 12
S&P CAUTIONS AGAINST NEW INDONESIAN MINING REGULATIONS - THE JAKARTA GLOBE
The Jakarta Globe reported that, Investors may have expressed concerns about looming new mining regulations, but ratings agency Standard & Poor& ...
Thursday, 12 April 12
FIRST QUARTER OF 2012 SAW AN ADDITIONAL 24.2 MILLION DWT OF DRY BULK CARRIERS ENTERING THE FLEET - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The inflow of newbuilt dry bulk vessels was larger than expected in the first quarter of 2012. As much as 24.2 million DWT were added to the fleet. ...
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- Global Coal Blending Company Limited - Australia
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- Price Waterhouse Coopers - Russia
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- Rashtriya Ispat Nigam Limited - India
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- Billiton Holdings Pty Ltd - Australia
- Baramulti Group, Indonesia
- Attock Cement Pakistan Limited
- Gujarat Electricity Regulatory Commission - India
- Economic Council, Georgia
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- Global Business Power Corporation, Philippines
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- Goldman Sachs - Singapore
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- Intertek Mineral Services - Indonesia
- Karaikal Port Pvt Ltd - India
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- Kohat Cement Company Ltd. - Pakistan
- Therma Luzon, Inc, Philippines
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- Commonwealth Bank - Australia
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- PowerSource Philippines DevCo
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- Chettinad Cement Corporation Ltd - India
- Chamber of Mines of South Africa
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- Tata Chemicals Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
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- Tamil Nadu electricity Board
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- Heidelberg Cement - Germany
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- SMC Global Power, Philippines
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- OPG Power Generation Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- Central Electricity Authority - India
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- The University of Queensland
- Power Finance Corporation Ltd., India
- SMG Consultants - Indonesia
- Sojitz Corporation - Japan
- Australian Coal Association
- Sakthi Sugars Limited - India
- Siam City Cement PLC, Thailand
- CNBM International Corporation - China
- Bangladesh Power Developement Board
- Vizag Seaport Private Limited - India
- Binh Thuan Hamico - Vietnam
- Sical Logistics Limited - India
- SN Aboitiz Power Inc, Philippines
- Indian Oil Corporation Limited
- Orica Mining Services - Indonesia
- Madhucon Powers Ltd - India
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- Anglo American - United Kingdom
- ICICI Bank Limited - India
- Carbofer General Trading SA - India
- McConnell Dowell - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Oldendorff Carriers - Singapore
- Semirara Mining Corp, Philippines
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- Makarim & Taira - Indonesia
- Minerals Council of Australia
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- Thiess Contractors Indonesia
- Antam Resourcindo - Indonesia
- The Treasury - Australian Government
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- Ambuja Cements Ltd - India
- Maheswari Brothers Coal Limited - India
- Ministry of Transport, Egypt
- Coalindo Energy - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bhoruka Overseas - Indonesia
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- IEA Clean Coal Centre - UK
- Larsen & Toubro Limited - India
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- Indian Energy Exchange, India
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- Star Paper Mills Limited - India
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- Bayan Resources Tbk. - Indonesia
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- Ind-Barath Power Infra Limited - India
- Directorate General of MIneral and Coal - Indonesia
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- Sarangani Energy Corporation, Philippines
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- Samtan Co., Ltd - South Korea
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- Eastern Coal Council - USA
- MS Steel International - UAE
- European Bulk Services B.V. - Netherlands
- Bulk Trading Sa - Switzerland
- Petron Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Energy Link Ltd, New Zealand
- Marubeni Corporation - India
- Sindya Power Generating Company Private Ltd
- Toyota Tsusho Corporation, Japan
- Siam City Cement - Thailand
- Thai Mozambique Logistica
- VISA Power Limited - India
- PTC India Limited - India
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- Parliament of New Zealand
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- Merrill Lynch Commodities Europe
- IHS Mccloskey Coal Group - USA
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Holcim Trading Pte Ltd - Singapore
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