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.
|
|
Monday, 02 January 17
PORT OF NEWCASTLE SHIPPED 13.62 MMT OF COAL IN NOVEMBER; UP 4.18% M/M
COALspot.com: The Port of Newcastle, Australia’s major trading ports and the world’s largest coal export port has shipped $AU 1,201 Mil ...
Friday, 30 December 16
US WEEKLY COAL PRODUCTION TOTALS 15.2 MMST, DOWN 3.1% - EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 15.2 million sho ...
Thursday, 29 December 16
CHINA AIMS TO CAP COAL-FIRED POWER CAPACITY AT 1,100 GIGAWATTS BY THE END OF 2020 - REUTERS
China aims to cap total primary energy consumption at around 4.4 billion tonnes of coal equivalent in 2017, the director of the National Energy Adm ...
Wednesday, 28 December 16
FINANCIAL MARKETS AND COMMODITY MARKETS HAVE ALREADY SHOWED CONSIDERABLE IMPROVEMENT AND RENEWED OPTIMISM - GEORGE LAZARIDIS
As 2016 nears to a close many will be breathing a heavy sigh of relief, having made it through one of the toughest years in this century and lookin ...
Wednesday, 28 December 16
BUMA SIGNED APPROXIMATELY US$ 493 MILLION WORTH OF MINING SERVICES CONTRACTS WITH PT ADARO INDONESIA AND PT ANGSANA JAYA ENERGY
COALspot.com: PT Delta Dunia Makmur Tbk. Has announced that its primary operating subsidiary, PT Bukit Makmur Mandiri Utama ("BUMA") has ...
|
|
|
Showing 2166 to 2170 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- White Energy Company Limited
- Semirara Mining Corp, Philippines
- Lanco Infratech Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Mjunction Services Limited - India
- Ceylon Electricity Board - Sri Lanka
- Wood Mackenzie - Singapore
- Intertek Mineral Services - Indonesia
- Global Green Power PLC Corporation, Philippines
- McConnell Dowell - Australia
- CIMB Investment Bank - Malaysia
- Agrawal Coal Company - India
- Jaiprakash Power Ventures ltd
- Latin American Coal - Colombia
- Kideco Jaya Agung - Indonesia
- Economic Council, Georgia
- Dalmia Cement Bharat India
- Merrill Lynch Commodities Europe
- Altura Mining Limited, Indonesia
- Parliament of New Zealand
- Sakthi Sugars Limited - India
- Africa Commodities Group - South Africa
- Coastal Gujarat Power Limited - India
- VISA Power Limited - India
- Thiess Contractors Indonesia
- Formosa Plastics Group - Taiwan
- Gujarat Sidhee Cement - India
- LBH Netherlands Bv - Netherlands
- Rio Tinto Coal - Australia
- Baramulti Group, Indonesia
- Sical Logistics Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Indian Energy Exchange, India
- Aditya Birla Group - India
- Metalloyd Limited - United Kingdom
- Mercator Lines Limited - India
- Rashtriya Ispat Nigam Limited - India
- Energy Link Ltd, New Zealand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- India Bulls Power Limited - India
- Pendopo Energi Batubara - Indonesia
- Sindya Power Generating Company Private Ltd
- Timah Investasi Mineral - Indoneisa
- San Jose City I Power Corp, Philippines
- Antam Resourcindo - Indonesia
- Sarangani Energy Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Makarim & Taira - Indonesia
- Orica Mining Services - Indonesia
- Mintek Dendrill Indonesia
- London Commodity Brokers - England
- Maheswari Brothers Coal Limited - India
- Meenaskhi Energy Private Limited - India
- Bukit Makmur.PT - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Indonesian Coal Mining Association
- Barasentosa Lestari - Indonesia
- Sree Jayajothi Cements Limited - India
- Simpson Spence & Young - Indonesia
- Georgia Ports Authority, United States
- Kalimantan Lumbung Energi - Indonesia
- Tata Chemicals Ltd - India
- OPG Power Generation Pvt Ltd - India
- Bhushan Steel Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Marubeni Corporation - India
- Bayan Resources Tbk. - Indonesia
- Chamber of Mines of South Africa
- Anglo American - United Kingdom
- Malabar Cements Ltd - India
- ICICI Bank Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Banpu Public Company Limited - Thailand
- Aboitiz Power Corporation - Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- GAC Shipping (India) Pvt Ltd
- Interocean Group of Companies - India
- New Zealand Coal & Carbon
- GMR Energy Limited - India
- IEA Clean Coal Centre - UK
- Independent Power Producers Association of India
- Savvy Resources Ltd - HongKong
- Alfred C Toepfer International GmbH - Germany
- Minerals Council of Australia
- ASAPP Information Group - India
- Karaikal Port Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Indian Oil Corporation Limited
- Eastern Energy - Thailand
- Bukit Asam (Persero) Tbk - Indonesia
- Australian Coal Association
- Energy Development Corp, Philippines
- Ministry of Mines - Canada
- Indo Tambangraya Megah - Indonesia
- Binh Thuan Hamico - Vietnam
- Coalindo Energy - Indonesia
- Ministry of Transport, Egypt
- Vedanta Resources Plc - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- CNBM International Corporation - China
- Sojitz Corporation - Japan
- Edison Trading Spa - Italy
- Petron Corporation, Philippines
- Samtan Co., Ltd - South Korea
- Essar Steel Hazira Ltd - India
- Xindia Steels Limited - India
- Planning Commission, India
- Globalindo Alam Lestari - Indonesia
- Global Coal Blending Company Limited - Australia
- Toyota Tsusho Corporation, Japan
- Holcim Trading Pte Ltd - Singapore
- Wilmar Investment Holdings
- Power Finance Corporation Ltd., India
- The Treasury - Australian Government
- Vijayanagar Sugar Pvt Ltd - India
- Indika Energy - Indonesia
- Carbofer General Trading SA - India
- Jindal Steel & Power Ltd - India
- Siam City Cement PLC, Thailand
- Manunggal Multi Energi - Indonesia
- Oldendorff Carriers - Singapore
- Price Waterhouse Coopers - Russia
- Ind-Barath Power Infra Limited - India
- Tamil Nadu electricity Board
- Bulk Trading Sa - Switzerland
- TNB Fuel Sdn Bhd - Malaysia
- Karbindo Abesyapradhi - Indoneisa
- Chettinad Cement Corporation Ltd - India
- Gujarat Electricity Regulatory Commission - India
- PTC India Limited - India
- Heidelberg Cement - Germany
- Therma Luzon, Inc, Philippines
- Coal and Oil Company - UAE
- Bhatia International Limited - India
- Posco Energy - South Korea
- Borneo Indobara - Indonesia
- TeaM Sual Corporation - Philippines
- Madhucon Powers Ltd - India
- Larsen & Toubro Limited - India
- GN Power Mariveles Coal Plant, Philippines
- The University of Queensland
- Kaltim Prima Coal - Indonesia
- Orica Australia Pty. Ltd.
- Neyveli Lignite Corporation Ltd, - India
- MS Steel International - UAE
- Central Java Power - Indonesia
- Medco Energi Mining Internasional
- Electricity Generating Authority of Thailand
- Bangladesh Power Developement Board
- Salva Resources Pvt Ltd - India
- Mercuria Energy - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Trasteel International SA, Italy
- Leighton Contractors Pty Ltd - Australia
- Kumho Petrochemical, South Korea
- Kepco SPC Power Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- PetroVietnam Power Coal Import and Supply Company
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kartika Selabumi Mining - Indonesia
- Port Waratah Coal Services - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Asmin Koalindo Tuhup - Indonesia
- Bharathi Cement Corporation - India
- Cigading International Bulk Terminal - Indonesia
- Deloitte Consulting - India
- PowerSource Philippines DevCo
- Renaissance Capital - South Africa
- Bahari Cakrawala Sebuku - Indonesia
- SN Aboitiz Power Inc, Philippines
- Bukit Baiduri Energy - Indonesia
- International Coal Ventures Pvt Ltd - India
- Meralco Power Generation, Philippines
- Semirara Mining and Power Corporation, Philippines
- The State Trading Corporation of India Ltd
- Siam City Cement - Thailand
- Iligan Light & Power Inc, Philippines
- Uttam Galva Steels Limited - India
- Vizag Seaport Private Limited - India
- Ministry of Finance - Indonesia
- Attock Cement Pakistan Limited
- Bhoruka Overseas - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Commonwealth Bank - Australia
- SMG Consultants - Indonesia
- Australian Commodity Traders Exchange
- Global Business Power Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- SMC Global Power, Philippines
- Eastern Coal Council - USA
- Standard Chartered Bank - UAE
- Central Electricity Authority - India
- Indogreen Group - Indonesia
- European Bulk Services B.V. - Netherlands
- Riau Bara Harum - Indonesia
- Star Paper Mills Limited - India
- IHS Mccloskey Coal Group - USA
- South Luzon Thermal Energy Corporation
- GVK Power & Infra Limited - India
- Directorate Of Revenue Intelligence - India
- Videocon Industries ltd - India
- Goldman Sachs - Singapore
- Cement Manufacturers Association - India
- Kobexindo Tractors - Indoneisa
- Electricity Authority, New Zealand
- Singapore Mercantile Exchange
- Offshore Bulk Terminal Pte Ltd, Singapore
- AsiaOL BioFuels Corp., Philippines
- Grasim Industreis Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ambuja Cements Ltd - India
- Thai Mozambique Logistica
- Gujarat Mineral Development Corp Ltd - India
- Romanian Commodities Exchange
- Parry Sugars Refinery, India
|
| |
| |
|
