We welcome article submissions from experts in the areas of coal, mining,
shipping, etc.
To Submit your article please click here.
|
|
|
Wednesday, 14 December 16
INTERNATIONAL TRIBUNAL DISMISSED CHURCHILL MINING'S DAMAGES CLAIM AGAINST REPUBLIC OF INDONESIA
 The Directors of Churchill Mining plc advise that, the ICSID Tribunal (“Tribunal”) granted Indonesia’s application to dismiss the Churchill claims for damages arising out of the revocation of the mining licenses that made up the East Kutai Coal Project in East Kalimantan (“EKCP”) Indonesia.
According to Churchill, the Tribunal’s decision has included the following findings:-
(1) Thirty four (34) disputed documents were held to be not authentic;
(2) The forger of the disputed documents was most likely a person or persons acting for or on behalf of Churchill’ s Indonesian partner the Ridlatama group in collusion with a person inside the East Kutai Regency;
(3) There was no finding that Churchill or its officers were involved in any forgery;
(4) Churchill’s due diligence investigations conducted at the time of acquiring the East Kutai Coal licenses were insufficient ;
(5) The claims brought by Churchill in this arbitration are dismissed; and
(6) Churchill is ordered to pay a total of USD 9,446,528 in costs and arbitration tribunal fees.
According to media reports, Churchill's 100%-owned Australian subsidiary Planet Mining Pty, which via its 5% shareholding in PT Indonesia Coal Development also held an interest in the East Kutai Coal Project, has also filed for arbitration at ICSID.
In February 2014, the ICSID ruled in Churchill’s favour, enabling it to pursue the claim for damages against the Indonesian government.
According to the document posted on company's website, the Churchill Chairman David Quinlivan said “ We are obviously extremely disappointed by the Tribunal’s decision and the fact that the Tribunal drew no adverse inferences against Indonesia following the refusal by Mr. Isran Noor to attend the August 2015 hearing so that he could be cross-examined and the refusals by Indonesia to provide documents that the Tribunal itself considered prima facie relevant. While we are still reviewing the reasons, the Tribunal appears to have accepted that Mr. Noor was deceived into signing the exploitation licenses despite his non-appearance and his witness statement having been struck from the record. Indonesia has always conceded that the EKCP exploitation licenses were validly issued and signed and it is difficult to understand how the Tribunal found otherwise on the evidence available."
According to Churchill, the ICSID process allows Churchill to request annulment of the award by an application in writing addressed to the Secretary-General on the following grounds:
(i) that the Tribunal was not properly constituted;
(ii) that the Tribunal has manifestly exceeded its powers;
(iii) that there has been a serious departure from a fundamental rule of procedure; or
(iv) that the award has failed to state the reasons on which it is based.
Churchill believes there are grounds to annul this award and is working with its lawyers Clifford Chance LLP to determine which of the above grounds may be available.
As part of that application, Churchill would seek a stay of the costs orders that have been made. As referred to above, Churchill has been ordered to pay a total of USD 9, 446,528 in costs and arbitration tribunal fees and accordingly the suspension in trading of the Company’s shares on AIM will remain in place pending clarification of the Company’s financial position.
If you believe an article violates your rights or the rights of others, please contact us.
|
|
Tuesday, 21 March 17
DESPITE THE CHALLENGING MARKET SITUATION IN 2016 THE DELTA DUNIA MAKMUR HAS ACHIEVED A NET PROFIT OF US$37 MILLION
COALspot.com: PT Delta Dunia Makmur Tbk. has announced its financial results for the period ended December 31, 2016.
Despite challenging marke ...
Tuesday, 21 March 17
JAPAN'S RENEWED COMMITMENT TO COAL - BENJAMIN SPORTON
Japan is one of the largest economies in the world, and has long been a major consumer and importer of energy and a leader in energy technology dev ...
Monday, 20 March 17
IS THE DRY BULK INDUSTRY STILL ON TRACK FOR PROFITABILITY IN 2019? - PETER SAND
The industry remains well on target for profitable freight rates in 2019! This relies however, on the projected fleet supply growth rate of 0% in 2 ...
Friday, 17 March 17
U.S WEEKLY COAL OUTPUT VOLUME SLIDES 6.5 PERCENT WEEK OVER WEEK - EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 14.7 million short ton ...
Thursday, 16 March 17
CHINA IMPOSING TOUGHER CONTROLS ON LOW-QUALITY COAL IMPORTS
China is ramping up controls on imports of low-quality coal due to concerns about smog and overcapacity in the world’s top coal consumer, a g ...
|
|
|
Showing 2096 to 2100 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Vizag Seaport Private Limited - India
- Bayan Resources Tbk. - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Oldendorff Carriers - Singapore
- Metalloyd Limited - United Kingdom
- Ministry of Finance - Indonesia
- Interocean Group of Companies - India
- IEA Clean Coal Centre - UK
- Energy Link Ltd, New Zealand
- International Coal Ventures Pvt Ltd - India
- MS Steel International - UAE
- Parry Sugars Refinery, India
- Kobexindo Tractors - Indoneisa
- Madhucon Powers Ltd - India
- IHS Mccloskey Coal Group - USA
- Straits Asia Resources Limited - Singapore
- Sical Logistics Limited - India
- LBH Netherlands Bv - Netherlands
- Gujarat Electricity Regulatory Commission - India
- Neyveli Lignite Corporation Ltd, - India
- Georgia Ports Authority, United States
- Global Coal Blending Company Limited - Australia
- Alfred C Toepfer International GmbH - Germany
- Renaissance Capital - South Africa
- Agrawal Coal Company - India
- Eastern Coal Council - USA
- Mercuria Energy - Indonesia
- Toyota Tsusho Corporation, Japan
- Minerals Council of Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Ministry of Mines - Canada
- ASAPP Information Group - India
- Bukit Makmur.PT - Indonesia
- Independent Power Producers Association of India
- Anglo American - United Kingdom
- Formosa Plastics Group - Taiwan
- Parliament of New Zealand
- GN Power Mariveles Coal Plant, Philippines
- Indonesian Coal Mining Association
- Manunggal Multi Energi - Indonesia
- Thai Mozambique Logistica
- Indian Energy Exchange, India
- Bhoruka Overseas - Indonesia
- Deloitte Consulting - India
- Coal and Oil Company - UAE
- Indika Energy - Indonesia
- Thiess Contractors Indonesia
- Australian Commodity Traders Exchange
- India Bulls Power Limited - India
- Dalmia Cement Bharat India
- Bukit Asam (Persero) Tbk - Indonesia
- Intertek Mineral Services - Indonesia
- McConnell Dowell - Australia
- Goldman Sachs - Singapore
- Indogreen Group - Indonesia
- Sojitz Corporation - Japan
- Timah Investasi Mineral - Indoneisa
- Kideco Jaya Agung - Indonesia
- Attock Cement Pakistan Limited
- Ind-Barath Power Infra Limited - India
- The State Trading Corporation of India Ltd
- Sarangani Energy Corporation, Philippines
- Global Business Power Corporation, Philippines
- Mercator Lines Limited - India
- Sree Jayajothi Cements Limited - India
- Baramulti Group, Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Petron Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Videocon Industries ltd - India
- Jindal Steel & Power Ltd - India
- Globalindo Alam Lestari - Indonesia
- New Zealand Coal & Carbon
- Commonwealth Bank - Australia
- Port Waratah Coal Services - Australia
- Ceylon Electricity Board - Sri Lanka
- PNOC Exploration Corporation - Philippines
- PowerSource Philippines DevCo
- Malabar Cements Ltd - India
- South Luzon Thermal Energy Corporation
- Bhushan Steel Limited - India
- Siam City Cement PLC, Thailand
- CIMB Investment Bank - Malaysia
- Borneo Indobara - Indonesia
- Edison Trading Spa - Italy
- Pipit Mutiara Jaya. PT, Indonesia
- VISA Power Limited - India
- Coastal Gujarat Power Limited - India
- Kapuas Tunggal Persada - Indonesia
- TeaM Sual Corporation - Philippines
- Indian Oil Corporation Limited
- Tamil Nadu electricity Board
- Kaltim Prima Coal - Indonesia
- Meralco Power Generation, Philippines
- Cement Manufacturers Association - India
- Ministry of Transport, Egypt
- Heidelberg Cement - Germany
- Aditya Birla Group - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kartika Selabumi Mining - Indonesia
- Bangladesh Power Developement Board
- Larsen & Toubro Limited - India
- Coalindo Energy - Indonesia
- Ambuja Cements Ltd - India
- PTC India Limited - India
- Semirara Mining and Power Corporation, Philippines
- Kumho Petrochemical, South Korea
- Billiton Holdings Pty Ltd - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Uttam Galva Steels Limited - India
- Planning Commission, India
- Iligan Light & Power Inc, Philippines
- Romanian Commodities Exchange
- Cigading International Bulk Terminal - Indonesia
- Bharathi Cement Corporation - India
- Standard Chartered Bank - UAE
- Samtan Co., Ltd - South Korea
- The Treasury - Australian Government
- AsiaOL BioFuels Corp., Philippines
- Maharashtra Electricity Regulatory Commission - India
- Directorate Of Revenue Intelligence - India
- Binh Thuan Hamico - Vietnam
- Simpson Spence & Young - Indonesia
- Carbofer General Trading SA - India
- Bhatia International Limited - India
- SMG Consultants - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Posco Energy - South Korea
- SN Aboitiz Power Inc, Philippines
- Siam City Cement - Thailand
- Riau Bara Harum - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Energy Development Corp, Philippines
- Altura Mining Limited, Indonesia
- San Jose City I Power Corp, Philippines
- Orica Mining Services - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Krishnapatnam Port Company Ltd. - India
- Trasteel International SA, Italy
- Therma Luzon, Inc, Philippines
- Essar Steel Hazira Ltd - India
- London Commodity Brokers - England
- Petrochimia International Co. Ltd.- Taiwan
- ICICI Bank Limited - India
- Latin American Coal - Colombia
- Wilmar Investment Holdings
- Power Finance Corporation Ltd., India
- Wood Mackenzie - Singapore
- Rio Tinto Coal - Australia
- Jaiprakash Power Ventures ltd
- Marubeni Corporation - India
- Africa Commodities Group - South Africa
- Meenaskhi Energy Private Limited - India
- Grasim Industreis Ltd - India
- Aboitiz Power Corporation - Philippines
- Economic Council, Georgia
- Asmin Koalindo Tuhup - Indonesia
- Price Waterhouse Coopers - Russia
- Sindya Power Generating Company Private Ltd
- Electricity Authority, New Zealand
- Sinarmas Energy and Mining - Indonesia
- Salva Resources Pvt Ltd - India
- The University of Queensland
- Eastern Energy - Thailand
- Chettinad Cement Corporation Ltd - India
- White Energy Company Limited
- Barasentosa Lestari - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- OPG Power Generation Pvt Ltd - India
- Vedanta Resources Plc - India
- Central Java Power - Indonesia
- Lanco Infratech Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- SMC Global Power, Philippines
- Karaikal Port Pvt Ltd - India
- Medco Energi Mining Internasional
- Merrill Lynch Commodities Europe
- Maheswari Brothers Coal Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Holcim Trading Pte Ltd - Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Savvy Resources Ltd - HongKong
- Antam Resourcindo - Indonesia
- Orica Australia Pty. Ltd.
- Tata Chemicals Ltd - India
- Kepco SPC Power Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- Gujarat Sidhee Cement - India
- Bulk Trading Sa - Switzerland
- Kohat Cement Company Ltd. - Pakistan
- Xindia Steels Limited - India
- GAC Shipping (India) Pvt Ltd
- Semirara Mining Corp, Philippines
- Chamber of Mines of South Africa
- Central Electricity Authority - India
- GVK Power & Infra Limited - India
- Kalimantan Lumbung Energi - Indonesia
- CNBM International Corporation - China
- Mintek Dendrill Indonesia
- Global Green Power PLC Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Star Paper Mills Limited - India
- Pendopo Energi Batubara - Indonesia
- Banpu Public Company Limited - Thailand
- European Bulk Services B.V. - Netherlands
- Makarim & Taira - Indonesia
- Australian Coal Association
- Singapore Mercantile Exchange
- Sakthi Sugars Limited - India
- Mjunction Services Limited - India
- GMR Energy Limited - India
- Electricity Generating Authority of Thailand
- Leighton Contractors Pty Ltd - Australia
|
| |
| |
|
