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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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- Siam City Cement PLC, Thailand
- Australian Coal Association
- Bank of Tokyo Mitsubishi UFJ Ltd
- White Energy Company Limited
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- Energy Link Ltd, New Zealand
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- Meenaskhi Energy Private Limited - India
- Medco Energi Mining Internasional
- Pipit Mutiara Jaya. PT, Indonesia
- Siam City Cement - Thailand
- Bayan Resources Tbk. - Indonesia
- Global Coal Blending Company Limited - Australia
- Indo Tambangraya Megah - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- PNOC Exploration Corporation - Philippines
- Holcim Trading Pte Ltd - Singapore
- Grasim Industreis Ltd - India
- Timah Investasi Mineral - Indoneisa
- Bukit Baiduri Energy - Indonesia
- Ministry of Finance - Indonesia
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- OPG Power Generation Pvt Ltd - India
- Renaissance Capital - South Africa
- Intertek Mineral Services - Indonesia
- Sical Logistics Limited - India
- Aditya Birla Group - India
- McConnell Dowell - Australia
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- Ambuja Cements Ltd - India
- Posco Energy - South Korea
- Electricity Generating Authority of Thailand
- Lanco Infratech Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Krishnapatnam Port Company Ltd. - India
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- Singapore Mercantile Exchange
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- Sinarmas Energy and Mining - Indonesia
- Sindya Power Generating Company Private Ltd
- Dalmia Cement Bharat India
- The State Trading Corporation of India Ltd
- SMC Global Power, Philippines
- Ceylon Electricity Board - Sri Lanka
- Gujarat Electricity Regulatory Commission - India
- Aboitiz Power Corporation - Philippines
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- GVK Power & Infra Limited - India
- Semirara Mining Corp, Philippines
- Kumho Petrochemical, South Korea
- Orica Mining Services - Indonesia
- Bharathi Cement Corporation - India
- Ind-Barath Power Infra Limited - India
- Indika Energy - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Merrill Lynch Commodities Europe
- Kepco SPC Power Corporation, Philippines
- Cement Manufacturers Association - India
- Barasentosa Lestari - Indonesia
- Indian Oil Corporation Limited
- Goldman Sachs - Singapore
- Price Waterhouse Coopers - Russia
- CIMB Investment Bank - Malaysia
- Mjunction Services Limited - India
- CNBM International Corporation - China
- Gujarat Sidhee Cement - India
- India Bulls Power Limited - India
- Malabar Cements Ltd - India
- Baramulti Group, Indonesia
- Rio Tinto Coal - Australia
- Karbindo Abesyapradhi - Indoneisa
- IHS Mccloskey Coal Group - USA
- Oldendorff Carriers - Singapore
- Savvy Resources Ltd - HongKong
- Directorate General of MIneral and Coal - Indonesia
- Bulk Trading Sa - Switzerland
- Indogreen Group - Indonesia
- Tamil Nadu electricity Board
- Iligan Light & Power Inc, Philippines
- San Jose City I Power Corp, Philippines
- Trasteel International SA, Italy
- Vijayanagar Sugar Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- Bhushan Steel Limited - India
- Coastal Gujarat Power Limited - India
- LBH Netherlands Bv - Netherlands
- Central Java Power - Indonesia
- Coal and Oil Company - UAE
- Petron Corporation, Philippines
- Carbofer General Trading SA - India
- ICICI Bank Limited - India
- Anglo American - United Kingdom
- Simpson Spence & Young - Indonesia
- Antam Resourcindo - Indonesia
- Independent Power Producers Association of India
- Kapuas Tunggal Persada - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sree Jayajothi Cements Limited - India
- Tata Chemicals Ltd - India
- Vizag Seaport Private Limited - India
- PowerSource Philippines DevCo
- TeaM Sual Corporation - Philippines
- IEA Clean Coal Centre - UK
- Planning Commission, India
- London Commodity Brokers - England
- Agrawal Coal Company - India
- Port Waratah Coal Services - Australia
- Global Business Power Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Interocean Group of Companies - India
- GAC Shipping (India) Pvt Ltd
- Manunggal Multi Energi - Indonesia
- Chamber of Mines of South Africa
- Maharashtra Electricity Regulatory Commission - India
- Riau Bara Harum - Indonesia
- Thiess Contractors Indonesia
- Karaikal Port Pvt Ltd - India
- Orica Australia Pty. Ltd.
- Heidelberg Cement - Germany
- South Luzon Thermal Energy Corporation
- GN Power Mariveles Coal Plant, Philippines
- Mintek Dendrill Indonesia
- Global Green Power PLC Corporation, Philippines
- Commonwealth Bank - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Rashtriya Ispat Nigam Limited - India
- Coalindo Energy - Indonesia
- Mercator Lines Limited - India
- Kaltim Prima Coal - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- International Coal Ventures Pvt Ltd - India
- Borneo Indobara - Indonesia
- Altura Mining Limited, Indonesia
- Bangladesh Power Developement Board
- Metalloyd Limited - United Kingdom
- Straits Asia Resources Limited - Singapore
- Economic Council, Georgia
- Indonesian Coal Mining Association
- Electricity Authority, New Zealand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Power Finance Corporation Ltd., India
- Toyota Tsusho Corporation, Japan
- PetroVietnam Power Coal Import and Supply Company
- Deloitte Consulting - India
- European Bulk Services B.V. - Netherlands
- Wilmar Investment Holdings
- Binh Thuan Hamico - Vietnam
- Eastern Energy - Thailand
- Parliament of New Zealand
- Therma Luzon, Inc, Philippines
- Alfred C Toepfer International GmbH - Germany
- Maheswari Brothers Coal Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Salva Resources Pvt Ltd - India
- The Treasury - Australian Government
- Leighton Contractors Pty Ltd - Australia
- Directorate Of Revenue Intelligence - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Minerals Council of Australia
- Larsen & Toubro Limited - India
- Bhatia International Limited - India
- Australian Commodity Traders Exchange
- Africa Commodities Group - South Africa
- The University of Queensland
- Asmin Koalindo Tuhup - Indonesia
- Samtan Co., Ltd - South Korea
- Banpu Public Company Limited - Thailand
- ASAPP Information Group - India
- Ministry of Transport, Egypt
- Latin American Coal - Colombia
- VISA Power Limited - India
- Mercuria Energy - Indonesia
- Energy Development Corp, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Jorong Barutama Greston.PT - Indonesia
- Chettinad Cement Corporation Ltd - India
- SMG Consultants - Indonesia
- Thai Mozambique Logistica
- Marubeni Corporation - India
- New Zealand Coal & Carbon
- Formosa Plastics Group - Taiwan
- AsiaOL BioFuels Corp., Philippines
- Billiton Holdings Pty Ltd - Australia
- Central Electricity Authority - India
- Jaiprakash Power Ventures ltd
- Ministry of Mines - Canada
- Kideco Jaya Agung - Indonesia
- Pendopo Energi Batubara - Indonesia
- Romanian Commodities Exchange
- Kohat Cement Company Ltd. - Pakistan
- Meralco Power Generation, Philippines
- Parry Sugars Refinery, India
- Eastern Coal Council - USA
- Edison Trading Spa - Italy
- Makarim & Taira - Indonesia
- Sojitz Corporation - Japan
- GMR Energy Limited - India
- Wood Mackenzie - Singapore
- Globalindo Alam Lestari - Indonesia
- Indian Energy Exchange, India
- Essar Steel Hazira Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Xindia Steels Limited - India
- Georgia Ports Authority, United States
- MS Steel International - UAE
- Standard Chartered Bank - UAE
- SN Aboitiz Power Inc, Philippines
- Kobexindo Tractors - Indoneisa
- PTC India Limited - India
- Jindal Steel & Power Ltd - India
- Kartika Selabumi Mining - Indonesia
- Uttam Galva Steels Limited - India
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