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Pin to quick picksCloudified Holdings Limited Share News (CHL)

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Indonesia goes quiet on dispute with Churchill Mining

Wed, 20th Apr 2016 15:09

(ShareCast News) - The long-running dispute between AIM-listed Churchill Mining and the Indonesian government over a coal project took another turn on Wednesday when the company reported that its opponent had failed to make its latest payment in the arbitration process.The case is being handled at the Washington-based International Centre for Settlement of Investment Disputes.Churchill said Indonesia had also failed to state whether it was continuing with arbitration, noting it was "strange" that it had "defaulted on a payment requested to cover the costs of its own application"."It is also surprising that, despite our express request, Indonesia has now failed to confirm that it is still participating in the arbitration. Indonesia's continued silence suggests that it may have decided to withdraw from the arbitration proceedings," said chairman David Quinliven."While there is still time for Indonesia to re-appear in the arbitration, if it does not do so that will not stop the arbitration. Churchill remains committed to the resolution of its dispute with Indonesia through the....process and will do whatever has to be done to ensure that the arbitration progresses to its natural conclusion."The dispute, which has been running since 2012, is over the licensing of an East Kalimantan coal project is estimated by the firm to contain 2.73bn tonnes of reserves. Churchill claims the Indonesian government unlawfully revoked mining licences that had been awarded to the miner for its East Kutai project.
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24 Feb 2014 08:30

UK MORNING BRIEFING: HSBC Shares Fall On Lower-Than-Expected Profit

LONDON (Alliance News) - Shares have opened lower Monday amid a raft of UK corporate announcements. HSBC Holdings is the biggest faller in the FTSE 100, down 4.0%, as it reported just after the open lower-than-expected pretax profit in its recent full year.

Here is

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21 Feb 2014 13:53

UK MIDDAY BRIEFING: FTSE 100 Heads For Sixth Daily Gain

LONDON (Alliance News) - The FTSE 100 looks set to post its sixth consecutive daily rise Friday, as it nears its 2014 high amid a continuing rally in stock markets around the world, largely driven by the recovery of the world's largest economy.

The focus in London Friday has been on

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21 Feb 2014 11:57

UK WINNERS & LOSERS: IP Group, Millennium & Copthorne Lead FTSE 350 Risers

LONDON (Alliance News) - The following stocks are the leading risers and fallers within the main London indices midday Thursday. ------- FTSE 100 - WINNERS Royal Bank of Scotland Group, up 2.4%. The bank is preparing a dramatic retrenchment that would see it become a much smalle

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21 Feb 2014 11:32

Churchill Mining Gets Date For Arbitration Ruling

LONDON (Alliance News) - Churchill Mining PLC Friday said it expects to receive a ruling on its international arbitration claim against the Republic of Indonesia on February 24. The thermal coal producer said its lawyers Quinn Emmanuel Urquhart & Sullivan LLP were informed of the date the I

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18 Feb 2014 10:56

Churchill Mining Announces That It Still Hasn't Received Key Tribunal Ruling

LONDON (Alliance News) - Churchill Mining PLC Tuesday said it has still not received the tribunal ruling on its international arbitration claim against the Republic of Indonesia. The thermal coal producer said its lawyers Quinn Emmanuel Urquhart & Sullivan LLP are in the process of contacti

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13 Jan 2014 16:09

Work Group Chief continues to build stake

Staffing company Work Group on Monday announced its Chief Executive, Rose Colledge, had enlarged her stake in the firm with the purchase of 284,844 shares, while her husband bought a further 441,014. All of the shares were bought for 4.53p each, giving a total trade value of £32,881. Colledge's st

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27 Dec 2013 13:20

Churchill Mining says court decision on Indonesian claim due early 2014

The share price of Churchill Mining jumped by over a fifth on Friday after the firm said that a tribunal decision on claims for damages in Indonesia should be expected in early 2014. The coal miner had filed a claim in May 2012 against the Republic of Indonesia (ROI) for breaches of Indonesia's obl

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27 Dec 2013 11:28

UK WINNERS & LOSERS: International Personal Finance Leads FTSE 350 Fallers; Evraz Up

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27 Dec 2013 08:39

Churchill Mining Expects Tribunal Decision On Indonesian Claim Soon

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6 Nov 2013 13:01

Churchill Mining Says Its Unaware Of Reason Behind Share Price Increase

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17 Oct 2013 13:34

Churchill Mining Pretax Losses Widen On Continued Litigation Process

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22 Mar 2013 10:38

Legal fees impact half-yearly results at Churchill Mining

Legal and professional fees impacted the financial results of AIM-listed Churchill Mining in the six months ended December 31st, but the company was able to narrow its loss on the year before. Churchill Mining posted a pre-tax loss for the half year of $4.5m, or 3.69c per ordinary share. Other admi

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14 Jun 2012 12:52

Resource round-up: ATH Resources, Churchill Mining, Mariana Resources

ATH Resources lost almost half its value on Thursday after it said a big drop in coal prices had hit trading hard and it was in discussions with its banks. "International coal prices have fallen by some 21% since the beginning of the calendar year and by over 28% since the beginning of the group's f

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3 Apr 2012 13:09

Resources round-up: Altona, Mariana, Aureus ...

AIM listed Altona Energy has entered into a memorandum of understanding with Maison Global, a provider of clean energy products to China, which will see the two companies collaborate in the business development of project opportunities for the production of transportation fuels, energy products and

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19 Aug 2011 16:20

Indonesia setback for Churchill Mining

Shares in AIM-listed Indonesian miner Churchill Mining took a hammering on Friday after a legal set-back. The firm revealed that its appeal to the Administrative High Court in Jakarta over the revocation of two of the four licences on the East Kutai Coal Project has been dismissed. By 16.22 in the

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