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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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Monday, 06 August 12
3RD ANNUAL INDONESIA POWER
Press Release - 3rd Annual Indonesia Power is Indonesia’s premier power event, where commercial opportunities and new projects are identified. ...
Monday, 06 August 12
COAL EXPORTS COULD ADD $2B TO $6B ANNUALLY TO U.S. ECONOMY - HELLENIC SHIPPING
Business groups backing Pacific Northwest coal export proposals on Thursday lauded a new report that claims increased U.S. coal exports could bring ...
Sunday, 05 August 12
SUB-BIT INDONESIA COAL SWAPS ARE WAY UP
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) for September 2012 delivery gain 1.36 percent on Friday (3 August 2012) closing W-o-W but gained& ...
Sunday, 05 August 12
INDONESIA'S ADARO TRIMS PRODUCTION FORECAST, CITES BAD ECONOMY - THE JAKARTA GLOBE
The Jakarta globe reported that, Adaro Energy, the country’s second-largest coal producer, has cut its annual production forecast to between ...
Sunday, 05 August 12
DRY BULK FREIGHT MARKET TO STAY WEAK NEXT COUPLE OF WEEKS - VISTAAR
COALspot.com - The freight market continued to soften further in all segments.
The BDI was down by 8.68 pct closing at 852 points. The cape index ...
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- Coal and Oil Company - UAE
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- Indian Oil Corporation Limited
- Global Business Power Corporation, Philippines
- Ministry of Mines - Canada
- AsiaOL BioFuels Corp., Philippines
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- OPG Power Generation Pvt Ltd - India
- Dalmia Cement Bharat India
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- Edison Trading Spa - Italy
- Intertek Mineral Services - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Sical Logistics Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Posco Energy - South Korea
- Madhucon Powers Ltd - India
- Trasteel International SA, Italy
- London Commodity Brokers - England
- Africa Commodities Group - South Africa
- Bank of Tokyo Mitsubishi UFJ Ltd
- ASAPP Information Group - India
- Bangladesh Power Developement Board
- Leighton Contractors Pty Ltd - Australia
- Australian Commodity Traders Exchange
- IEA Clean Coal Centre - UK
- Coalindo Energy - Indonesia
- Indian Energy Exchange, India
- Thiess Contractors Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Romanian Commodities Exchange
- Malabar Cements Ltd - India
- Riau Bara Harum - Indonesia
- Parliament of New Zealand
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- Kohat Cement Company Ltd. - Pakistan
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- Aditya Birla Group - India
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- Sojitz Corporation - Japan
- TNB Fuel Sdn Bhd - Malaysia
- GVK Power & Infra Limited - India
- Wood Mackenzie - Singapore
- Alfred C Toepfer International GmbH - Germany
- Gujarat Electricity Regulatory Commission - India
- Minerals Council of Australia
- Economic Council, Georgia
- MS Steel International - UAE
- Timah Investasi Mineral - Indoneisa
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- Price Waterhouse Coopers - Russia
- Ministry of Finance - Indonesia
- Heidelberg Cement - Germany
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- Kepco SPC Power Corporation, Philippines
- Sarangani Energy Corporation, Philippines
- CNBM International Corporation - China
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Electricity Authority, New Zealand
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- Port Waratah Coal Services - Australia
- Mintek Dendrill Indonesia
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- Kalimantan Lumbung Energi - Indonesia
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- Binh Thuan Hamico - Vietnam
- Metalloyd Limited - United Kingdom
- McConnell Dowell - Australia
- San Jose City I Power Corp, Philippines
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- Samtan Co., Ltd - South Korea
- Kideco Jaya Agung - Indonesia
- Global Coal Blending Company Limited - Australia
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- PetroVietnam Power Coal Import and Supply Company
- Bhatia International Limited - India
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- LBH Netherlands Bv - Netherlands
- Chamber of Mines of South Africa
- Global Green Power PLC Corporation, Philippines
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- New Zealand Coal & Carbon
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- Bulk Trading Sa - Switzerland
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