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 February 17
CHINESE EXPORTS SHOWED A YEAR-ON-YEAR RISE FOR THE FIRST TIME IN TEN MONTHS; S. KOREA'S EXPORTS UP FOR PAST THREE MONTHS IN A ROW - GEORGE LAZARIDIS
We have started to some sparks of life in the commodities markets these past weeks, with prices having shown a strong push during the past couple o ...
Tuesday, 21 February 17
CHINA SUSPENDS COAL IMPORTS FROM NORTH KOREA FROM 19 FEB
COALspot.com: China is suspended coal imports from North Korea until December 2017. China says it will suspend all imports of coal from North Korea ...
Monday, 20 February 17
OCEAN FREIGHT RATES SLIGHTLY UP WEEK OVER WEEK
COALspot.com: The Freight market was firmed up this past week. The Panamax segment was declined for the week ending 17 February 2017.
The Balt ...
Friday, 17 February 17
U.S. COAL PRODUCTION SLIPS SLIGHTLY WEEK OVER WEEK, SAYS EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 16.5 million sh ...
Thursday, 16 February 17
CAPE MARKET HAVE EXPERIENCED A STRONG DOWNTURN - FEARNLEYS
Supramax
Market has shifted sides from Atlantic to Pacific, where Atlantic is now lagging behind with little action and sliding indices, notably ...
|
|
|
Showing 2121 to 2125 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Maheswari Brothers Coal Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Wilmar Investment Holdings
- Billiton Holdings Pty Ltd - Australia
- Interocean Group of Companies - India
- Banpu Public Company Limited - Thailand
- Thiess Contractors Indonesia
- Cement Manufacturers Association - India
- CIMB Investment Bank - Malaysia
- CNBM International Corporation - China
- Bharathi Cement Corporation - India
- Antam Resourcindo - Indonesia
- Simpson Spence & Young - Indonesia
- Australian Coal Association
- IHS Mccloskey Coal Group - USA
- Tamil Nadu electricity Board
- Edison Trading Spa - Italy
- The Treasury - Australian Government
- Manunggal Multi Energi - Indonesia
- London Commodity Brokers - England
- Asmin Koalindo Tuhup - Indonesia
- Globalindo Alam Lestari - Indonesia
- Indo Tambangraya Megah - Indonesia
- Global Green Power PLC Corporation, Philippines
- Eastern Energy - Thailand
- Anglo American - United Kingdom
- Siam City Cement - Thailand
- Altura Mining Limited, Indonesia
- Directorate Of Revenue Intelligence - India
- Star Paper Mills Limited - India
- Gujarat Electricity Regulatory Commission - India
- Baramulti Group, Indonesia
- Indogreen Group - Indonesia
- Orica Australia Pty. Ltd.
- Minerals Council of Australia
- Larsen & Toubro Limited - India
- Marubeni Corporation - India
- Eastern Coal Council - USA
- Romanian Commodities Exchange
- Indonesian Coal Mining Association
- Agrawal Coal Company - India
- MS Steel International - UAE
- Economic Council, Georgia
- Vedanta Resources Plc - India
- Parliament of New Zealand
- Therma Luzon, Inc, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Price Waterhouse Coopers - Russia
- Jindal Steel & Power Ltd - India
- LBH Netherlands Bv - Netherlands
- Offshore Bulk Terminal Pte Ltd, Singapore
- Uttam Galva Steels Limited - India
- White Energy Company Limited
- Toyota Tsusho Corporation, Japan
- Malabar Cements Ltd - India
- Essar Steel Hazira Ltd - India
- Kobexindo Tractors - Indoneisa
- Bulk Trading Sa - Switzerland
- ICICI Bank Limited - India
- San Jose City I Power Corp, Philippines
- Renaissance Capital - South Africa
- Singapore Mercantile Exchange
- Parry Sugars Refinery, India
- Posco Energy - South Korea
- Sojitz Corporation - Japan
- Bhushan Steel Limited - India
- Georgia Ports Authority, United States
- Kumho Petrochemical, South Korea
- Independent Power Producers Association of India
- International Coal Ventures Pvt Ltd - India
- Riau Bara Harum - Indonesia
- Meralco Power Generation, Philippines
- Karaikal Port Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Gujarat Sidhee Cement - India
- The University of Queensland
- Metalloyd Limited - United Kingdom
- Kartika Selabumi Mining - Indonesia
- Videocon Industries ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- New Zealand Coal & Carbon
- Goldman Sachs - Singapore
- Grasim Industreis Ltd - India
- Coastal Gujarat Power Limited - India
- Ind-Barath Power Infra Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kapuas Tunggal Persada - Indonesia
- Mercuria Energy - Indonesia
- Orica Mining Services - Indonesia
- Miang Besar Coal Terminal - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Neyveli Lignite Corporation Ltd, - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Commonwealth Bank - Australia
- Dalmia Cement Bharat India
- Ministry of Finance - Indonesia
- Energy Development Corp, Philippines
- Central Electricity Authority - India
- Holcim Trading Pte Ltd - Singapore
- Latin American Coal - Colombia
- Krishnapatnam Port Company Ltd. - India
- Bhoruka Overseas - Indonesia
- Binh Thuan Hamico - Vietnam
- Africa Commodities Group - South Africa
- Barasentosa Lestari - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- India Bulls Power Limited - India
- Semirara Mining and Power Corporation, Philippines
- Intertek Mineral Services - Indonesia
- Coalindo Energy - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Bukit Makmur.PT - Indonesia
- Siam City Cement PLC, Thailand
- Makarim & Taira - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Bukit Baiduri Energy - Indonesia
- Sarangani Energy Corporation, Philippines
- Indian Energy Exchange, India
- Pendopo Energi Batubara - Indonesia
- ASAPP Information Group - India
- Jorong Barutama Greston.PT - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Formosa Plastics Group - Taiwan
- Samtan Co., Ltd - South Korea
- Electricity Authority, New Zealand
- Kepco SPC Power Corporation, Philippines
- Sical Logistics Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- SMC Global Power, Philippines
- Timah Investasi Mineral - Indoneisa
- Sindya Power Generating Company Private Ltd
- Mjunction Services Limited - India
- Lanco Infratech Ltd - India
- Xindia Steels Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Leighton Contractors Pty Ltd - Australia
- Borneo Indobara - Indonesia
- Central Java Power - Indonesia
- Rashtriya Ispat Nigam Limited - India
- GVK Power & Infra Limited - India
- Energy Link Ltd, New Zealand
- Bangladesh Power Developement Board
- Standard Chartered Bank - UAE
- Thai Mozambique Logistica
- The State Trading Corporation of India Ltd
- Attock Cement Pakistan Limited
- Maharashtra Electricity Regulatory Commission - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Aboitiz Power Corporation - Philippines
- Ceylon Electricity Board - Sri Lanka
- Ambuja Cements Ltd - India
- PTC India Limited - India
- Electricity Generating Authority of Thailand
- Chamber of Mines of South Africa
- Meenaskhi Energy Private Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Rio Tinto Coal - Australia
- Petron Corporation, Philippines
- Australian Commodity Traders Exchange
- SN Aboitiz Power Inc, Philippines
- Semirara Mining Corp, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- McConnell Dowell - Australia
- GN Power Mariveles Coal Plant, Philippines
- Mintek Dendrill Indonesia
- Iligan Light & Power Inc, Philippines
- Planning Commission, India
- Carbofer General Trading SA - India
- Port Waratah Coal Services - Australia
- Medco Energi Mining Internasional
- Indian Oil Corporation Limited
- Chettinad Cement Corporation Ltd - India
- Ministry of Mines - Canada
- Kaltim Prima Coal - Indonesia
- Trasteel International SA, Italy
- Tata Chemicals Ltd - India
- European Bulk Services B.V. - Netherlands
- Madhucon Powers Ltd - India
- OPG Power Generation Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Global Coal Blending Company Limited - Australia
- PowerSource Philippines DevCo
- Ministry of Transport, Egypt
- South Luzon Thermal Energy Corporation
- Bayan Resources Tbk. - Indonesia
- Merrill Lynch Commodities Europe
- Power Finance Corporation Ltd., India
- Deloitte Consulting - India
- Kalimantan Lumbung Energi - Indonesia
- GAC Shipping (India) Pvt Ltd
- PNOC Exploration Corporation - Philippines
- Global Business Power Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- SMG Consultants - Indonesia
- Savvy Resources Ltd - HongKong
- Indika Energy - Indonesia
- Jaiprakash Power Ventures ltd
- Sree Jayajothi Cements Limited - India
- Salva Resources Pvt Ltd - India
- Bhatia International Limited - India
- Heidelberg Cement - Germany
- IEA Clean Coal Centre - UK
- Wood Mackenzie - Singapore
- Straits Asia Resources Limited - Singapore
- Vizag Seaport Private Limited - India
- Mercator Lines Limited - India
- GMR Energy Limited - India
- Aditya Birla Group - India
- VISA Power Limited - India
- TeaM Sual Corporation - Philippines
- Coal and Oil Company - UAE
- Kideco Jaya Agung - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Oldendorff Carriers - Singapore
- Sakthi Sugars Limited - India
|
| |
| |
|
