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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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Wednesday, 18 July 12
SHIP PRICES HAVE FALLEN RAPIDLY THIS YEAR, FAVORING INVESTORS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The price for a 5 year old Capesize dry bulk carrier of 172,000 dwt has fallen to about $33,4mil from $42.9 at the end of June 2011, while at end of ...
Saturday, 14 July 12
FREIGHT MARKET SEEMS TO BE QUITE VOLATILE - VISTAAR
COALspot.com - The market seems to be quite volatile with the trend changing almost every week. This week all the segments were down except for Pana ...
Friday, 13 July 12
TRANSCOAL MINERGY HAS RECEIVED PMA STATUS IN INDONESIA
COALspot.com - PT Transcoal Minergy (“TCM”) has received official foreign owned company status from the Capital Investment Coordinating ...
Thursday, 12 July 12
LACK OF CAPESIZE DEMAND DRAGS DRY BULK MARKET LOWER - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
A lack of demand for the larger Capesize dry bulk carriers had as a result the fall of the industry’s benchmark, the BDI (Baltic Dry Index), w ...
Thursday, 12 July 12
RIO TINTO'S SENIOR MANAGEMENT CHANGES
COALspot.com - Rio Tinto is making changes to its senior management team as chief financial officer (CFO) Guy Elliott has decided to retire at the e ...
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- Global Coal Blending Company Limited - Australia
- Price Waterhouse Coopers - Russia
- Thai Mozambique Logistica
- CNBM International Corporation - China
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- Merrill Lynch Commodities Europe
- PowerSource Philippines DevCo
- Bayan Resources Tbk. - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Kalimantan Lumbung Energi - Indonesia
- Star Paper Mills Limited - India
- ASAPP Information Group - India
- Electricity Generating Authority of Thailand
- Ministry of Mines - Canada
- Orica Australia Pty. Ltd.
- Mercator Lines Limited - India
- Petron Corporation, Philippines
- The Treasury - Australian Government
- Energy Development Corp, Philippines
- Posco Energy - South Korea
- Xindia Steels Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Miang Besar Coal Terminal - Indonesia
- Madhucon Powers Ltd - India
- Standard Chartered Bank - UAE
- European Bulk Services B.V. - Netherlands
- Wilmar Investment Holdings
- Larsen & Toubro Limited - India
- International Coal Ventures Pvt Ltd - India
- Borneo Indobara - Indonesia
- Eastern Energy - Thailand
- Petrochimia International Co. Ltd.- Taiwan
- Eastern Coal Council - USA
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- Leighton Contractors Pty Ltd - Australia
- Australian Coal Association
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- SMG Consultants - Indonesia
- Trasteel International SA, Italy
- Bank of Tokyo Mitsubishi UFJ Ltd
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- Mjunction Services Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ceylon Electricity Board - Sri Lanka
- Kartika Selabumi Mining - Indonesia
- Jaiprakash Power Ventures ltd
- Binh Thuan Hamico - Vietnam
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- South Luzon Thermal Energy Corporation
- CIMB Investment Bank - Malaysia
- Anglo American - United Kingdom
- Dr Ramakrishna Prasad Power Pvt Ltd - India
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- Africa Commodities Group - South Africa
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- New Zealand Coal & Carbon
- Attock Cement Pakistan Limited
- Meralco Power Generation, Philippines
- Metalloyd Limited - United Kingdom
- Krishnapatnam Port Company Ltd. - India
- Edison Trading Spa - Italy
- Intertek Mineral Services - Indonesia
- Bharathi Cement Corporation - India
- Central Electricity Authority - India
- PNOC Exploration Corporation - Philippines
- Coalindo Energy - Indonesia
- Georgia Ports Authority, United States
- Toyota Tsusho Corporation, Japan
- McConnell Dowell - Australia
- San Jose City I Power Corp, Philippines
- Globalindo Alam Lestari - Indonesia
- Indika Energy - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Ambuja Cements Ltd - India
- Parliament of New Zealand
- Baramulti Group, Indonesia
- Altura Mining Limited, Indonesia
- Port Waratah Coal Services - Australia
- Karbindo Abesyapradhi - Indoneisa
- Savvy Resources Ltd - HongKong
- VISA Power Limited - India
- Indian Oil Corporation Limited
- Riau Bara Harum - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Coal and Oil Company - UAE
- Alfred C Toepfer International GmbH - Germany
- Deloitte Consulting - India
- Meenaskhi Energy Private Limited - India
- Electricity Authority, New Zealand
- Malabar Cements Ltd - India
- Oldendorff Carriers - Singapore
- Videocon Industries ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- GAC Shipping (India) Pvt Ltd
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Maheswari Brothers Coal Limited - India
- Singapore Mercantile Exchange
- Uttam Galva Steels Limited - India
- Wood Mackenzie - Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- OPG Power Generation Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- Directorate Of Revenue Intelligence - India
- Sarangani Energy Corporation, Philippines
- Bhoruka Overseas - Indonesia
- IEA Clean Coal Centre - UK
- Aboitiz Power Corporation - Philippines
- Indogreen Group - Indonesia
- Kumho Petrochemical, South Korea
- Carbofer General Trading SA - India
- Asmin Koalindo Tuhup - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Tamil Nadu electricity Board
- Orica Mining Services - Indonesia
- Rio Tinto Coal - Australia
- Sojitz Corporation - Japan
- Indo Tambangraya Megah - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Minerals Council of Australia
- Kaltim Prima Coal - Indonesia
- Global Business Power Corporation, Philippines
- Marubeni Corporation - India
- Commonwealth Bank - Australia
- Banpu Public Company Limited - Thailand
- Central Java Power - Indonesia
- Manunggal Multi Energi - Indonesia
- Romanian Commodities Exchange
- Samtan Co., Ltd - South Korea
- GMR Energy Limited - India
- Ind-Barath Power Infra Limited - India
- Agrawal Coal Company - India
- Sical Logistics Limited - India
- ICICI Bank Limited - India
- SMC Global Power, Philippines
- Vizag Seaport Private Limited - India
- Cement Manufacturers Association - India
- Thiess Contractors Indonesia
- Mintek Dendrill Indonesia
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- Ministry of Transport, Egypt
- Parry Sugars Refinery, India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Tata Chemicals Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Interocean Group of Companies - India
- Chamber of Mines of South Africa
- Global Green Power PLC Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- AsiaOL BioFuels Corp., Philippines
- Australian Commodity Traders Exchange
- Gujarat Sidhee Cement - India
- Heidelberg Cement - Germany
- Kapuas Tunggal Persada - Indonesia
- Siam City Cement PLC, Thailand
- LBH Netherlands Bv - Netherlands
- Power Finance Corporation Ltd., India
- London Commodity Brokers - England
- Bahari Cakrawala Sebuku - Indonesia
- Bukit Makmur.PT - Indonesia
- Economic Council, Georgia
- Semirara Mining Corp, Philippines
- White Energy Company Limited
- TeaM Sual Corporation - Philippines
- Barasentosa Lestari - Indonesia
- IHS Mccloskey Coal Group - USA
- Latin American Coal - Colombia
- Neyveli Lignite Corporation Ltd, - India
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- Independent Power Producers Association of India
- MS Steel International - UAE
- The State Trading Corporation of India Ltd
- Holcim Trading Pte Ltd - Singapore
- Siam City Cement - Thailand
- SN Aboitiz Power Inc, Philippines
- India Bulls Power Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Straits Asia Resources Limited - Singapore
- Bulk Trading Sa - Switzerland
- Simpson Spence & Young - Indonesia
- Antam Resourcindo - Indonesia
- Indian Energy Exchange, India
- GVK Power & Infra Limited - India
- Kideco Jaya Agung - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bukit Baiduri Energy - Indonesia
- Renaissance Capital - South Africa
- PTC India Limited - India
- Iligan Light & Power Inc, Philippines
- Jindal Steel & Power Ltd - India
- Timah Investasi Mineral - Indoneisa
- Planning Commission, India
- Bhatia International Limited - India
- Bangladesh Power Developement Board
- Karaikal Port Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Ministry of Finance - Indonesia
- Medco Energi Mining Internasional
- Formosa Plastics Group - Taiwan
- Kobexindo Tractors - Indoneisa
- Gujarat Electricity Regulatory Commission - India
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- The University of Queensland
- Bhushan Steel Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Therma Luzon, Inc, Philippines
- Indonesian Coal Mining Association
- Grasim Industreis Ltd - India
- Goldman Sachs - Singapore
- Makarim & Taira - Indonesia
- Vedanta Resources Plc - India
- Kepco SPC Power Corporation, Philippines
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