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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, 11 April 12
TWO PERCENT OF IBP CONCESSION CONTAINS 42 MMT OF COAL
COALspot.com - 42.35 million ton of coal found in just 2% of PT Insani Bara Perkasa’s total concession area of 24,477 hectare.
Accord ...
Wednesday, 11 April 12
DRY BULK MARKET STILL SUBDUED, RECOVERY NOT YET SEEN - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market entered the new week after the past days of easter holidays in western countries in a subdued mood. The industry’s benchma ...
Monday, 09 April 12
WEEKLY DRY MARKET OVERVIEW - MARIA BERTZELETOU, HELLENIC SHIPPING
The first week of April ended with the Baltic Dry Index falling below 950 points, before Catholic Easter, and capesizes showing a modest upturn with ...
Sunday, 08 April 12
CHARTER RATES COULD CONTINUE TO BE SOFT NEXT WEEK - VISTAAR
COALspot.com - The BDI was almost at same levels closing slightly lower by 0.64 pct at 928 points.
The Cape index was up by 6.73 pct closing at ...
Friday, 06 April 12
INDONESIAN HBA FALL TO LOWEST LEVEL SINCE JANUARY 2011
COALspot.com - Indonesian HBA fall to lowest level since January 2011 this month. The monthly coal reference price for coal sales in April fal ...
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- Tamil Nadu electricity Board
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- The State Trading Corporation of India Ltd
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- Coalindo Energy - Indonesia
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- Petrochimia International Co. Ltd.- Taiwan
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- Directorate General of MIneral and Coal - Indonesia
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- Price Waterhouse Coopers - Russia
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- Sree Jayajothi Cements Limited - India
- Alfred C Toepfer International GmbH - Germany
- Eastern Energy - Thailand
- Energy Development Corp, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Central Electricity Authority - India
- Bharathi Cement Corporation - India
- Indian Oil Corporation Limited
- Ministry of Finance - Indonesia
- Global Business Power Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Power Finance Corporation Ltd., India
- Pendopo Energi Batubara - Indonesia
- Malabar Cements Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Sical Logistics Limited - India
- Kapuas Tunggal Persada - Indonesia
- Singapore Mercantile Exchange
- Karbindo Abesyapradhi - Indoneisa
- SMC Global Power, Philippines
- Jaiprakash Power Ventures ltd
- Edison Trading Spa - Italy
- Bukit Asam (Persero) Tbk - Indonesia
- Directorate Of Revenue Intelligence - India
- Kumho Petrochemical, South Korea
- Bahari Cakrawala Sebuku - Indonesia
- PTC India Limited - India
- Electricity Authority, New Zealand
- Posco Energy - South Korea
- Bukit Baiduri Energy - Indonesia
- Marubeni Corporation - India
- Gujarat Sidhee Cement - India
- The Treasury - Australian Government
- Kartika Selabumi Mining - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Riau Bara Harum - Indonesia
- Kepco SPC Power Corporation, Philippines
- Global Green Power PLC Corporation, Philippines
- Merrill Lynch Commodities Europe
- Oldendorff Carriers - Singapore
- Therma Luzon, Inc, Philippines
- Indo Tambangraya Megah - Indonesia
- Bayan Resources Tbk. - Indonesia
- IHS Mccloskey Coal Group - USA
- Essar Steel Hazira Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- Cigading International Bulk Terminal - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Kaltim Prima Coal - Indonesia
- Dalmia Cement Bharat India
- Indonesian Coal Mining Association
- Samtan Co., Ltd - South Korea
- Medco Energi Mining Internasional
- Mintek Dendrill Indonesia
- Siam City Cement PLC, Thailand
- Port Waratah Coal Services - Australia
- Karaikal Port Pvt Ltd - India
- Wood Mackenzie - Singapore
- Rashtriya Ispat Nigam Limited - India
- Planning Commission, India
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- Metalloyd Limited - United Kingdom
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- Siam City Cement - Thailand
- CNBM International Corporation - China
- LBH Netherlands Bv - Netherlands
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Thiess Contractors Indonesia
- IEA Clean Coal Centre - UK
- Vedanta Resources Plc - India
- Sarangani Energy Corporation, Philippines
- Parliament of New Zealand
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- Aditya Birla Group - India
- Kohat Cement Company Ltd. - Pakistan
- Chamber of Mines of South Africa
- White Energy Company Limited
- OPG Power Generation Pvt Ltd - India
- Sakthi Sugars Limited - India
- Mjunction Services Limited - India
- India Bulls Power Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Minerals Council of Australia
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- Rio Tinto Coal - Australia
- Bukit Makmur.PT - Indonesia
- Coastal Gujarat Power Limited - India
- Latin American Coal - Colombia
- Uttam Galva Steels Limited - India
- GAC Shipping (India) Pvt Ltd
- Energy Link Ltd, New Zealand
- Lanco Infratech Ltd - India
- Australian Commodity Traders Exchange
- Global Coal Blending Company Limited - Australia
- Thai Mozambique Logistica
- Central Java Power - Indonesia
- Attock Cement Pakistan Limited
- Agrawal Coal Company - India
- SN Aboitiz Power Inc, Philippines
- Heidelberg Cement - Germany
- Straits Asia Resources Limited - Singapore
- Ministry of Mines - Canada
- Georgia Ports Authority, United States
- Jorong Barutama Greston.PT - Indonesia
- Chettinad Cement Corporation Ltd - India
- GMR Energy Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Standard Chartered Bank - UAE
- PNOC Exploration Corporation - Philippines
- Grasim Industreis Ltd - India
- Toyota Tsusho Corporation, Japan
- Mercuria Energy - Indonesia
- Sindya Power Generating Company Private Ltd
- GVK Power & Infra Limited - India
- South Luzon Thermal Energy Corporation
- Banpu Public Company Limited - Thailand
- Wilmar Investment Holdings
- Deloitte Consulting - India
- Billiton Holdings Pty Ltd - Australia
- Orica Australia Pty. Ltd.
- Antam Resourcindo - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Mercator Lines Limited - India
- Indogreen Group - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Borneo Indobara - Indonesia
- The University of Queensland
- Bulk Trading Sa - Switzerland
- Miang Besar Coal Terminal - Indonesia
- International Coal Ventures Pvt Ltd - India
- Bhushan Steel Limited - India
- Economic Council, Georgia
- Sojitz Corporation - Japan
- SMG Consultants - Indonesia
- ICICI Bank Limited - India
- Meenaskhi Energy Private Limited - India
- Bhoruka Overseas - Indonesia
- Africa Commodities Group - South Africa
- New Zealand Coal & Carbon
- Australian Coal Association
- PetroVietnam Power Coal Import and Supply Company
- European Bulk Services B.V. - Netherlands
- Indika Energy - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Formosa Plastics Group - Taiwan
- Videocon Industries ltd - India
- Ambuja Cements Ltd - India
- Anglo American - United Kingdom
- Timah Investasi Mineral - Indoneisa
- Globalindo Alam Lestari - Indonesia
- MS Steel International - UAE
- PowerSource Philippines DevCo
- Kobexindo Tractors - Indoneisa
- VISA Power Limited - India
- Aboitiz Power Corporation - Philippines
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