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<title><![CDATA[RNS press release - Second Price Monitoring Extn ]]></title>
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<title><![CDATA[News - Churchill Mining appoints John Nagulendran as non-exec director ]]></title>
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<description><![CDATA[<p><a href="http://www.proactiveinvestors.co.uk/companies/overview/351/Churchill+Mining" class="companyPopupTrigger" rel="351">Churchill Mining</a> (<a href="http://www.proactiveinvestors.co.uk/companies/overview/351/churchill-mining-0351.html" class="companyPopupTrigger" rel="351">LON:CHL</a>) has appointed John Nagulendran as a non-executive director. <br /><br />Nagulendran serves as the assistant general counsel of Pala Investments AG, the exclusive advisor to Pala Investments Holdings Ltd, a substantial shareholder of Churchill.<br /><br />Prior to joining Pala Investments, he was a practising lawyer at international law firm Herbert Smith LLP, where he specialized in the energy and natural resources sectors. <br /><br />He has worked in London, Singapore and Jakarta advising major corporates on acquisitions, disposals and equity financing. <br /><br />Prior to Herbert Smith, Nagulendran was at Rajah & Tann LLP, working on commercial and banking litigation matters. He is qualified as a solicitor in England & Wales and an advocate & solicitor in Singapore.<br /><br />Nagulendran replaces Jan Castro, who has resigned as one of Pala's representatives on the Churchill board.<br /><br />Chairman David Quinlivan said: "We are delighted to gain the commercial and legal experience of Mr Nagulendran as we enter the phase of international arbitration against the Republic of Indonesia.“<br /><br />Only last week, the group filed a further formal letter to the President of Indonesia, seeking support and legal protection in order to achieve an amicable and commercial resolution to the dispute regarding the East Kutai coal project (EKCP), 75 per cent owned by Churchill.<br /><br />The company believes that various Indonesian parties, both government and private, aim to expropriate its legitimate rights to develop the project.<br /><br />Churchill believes these actions to be in direct breach of both Indonesian law and Indonesia's obligations under the Bilateral Investment Treaty between the United Kingdom and the Republic of Indonesia.<br /><br />It is preparing an arbitration claim against Indonesia for direct breaches of the country’s obligations under the abovementioned treaty. It plans to file its claim at the International Centre for Settlement of Investment Disputes in Washington later this month.</p> ]]></description>
<pubDate>Thu, 10 May 2012 11:13:00 +0100</pubDate>
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<title><![CDATA[RNS press release - Directorate Change ]]></title>
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<pubDate>Thu, 10 May 2012 10:08:00 +0100</pubDate>
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<title><![CDATA[News - Churchill Mining files new formal letter to Indonesia president in East Kutai coal project dispute ]]></title>
<link>http://www.proactiveinvestors.co.uk/companies/news/42365/churchill-mining-files-new-formal-letter-to-indonesia-president-in-east-kutai-coal-project-dispute-42365.html</link>
<description><![CDATA[<p><a href="http://www.proactiveinvestors.co.uk/companies/overview/351/Churchill+Mining" class="companyPopupTrigger" rel="351">Churchill Mining</a> (<a href="http://www.proactiveinvestors.co.uk/companies/overview/351/churchill-mining-0351.html" class="companyPopupTrigger" rel="351">LON:CHL</a>) has filed a further formal letter to the President of Indonesia, seeking support and legal protection in order to achieve an amicable and commercial resolution to the dispute regarding the East Kutai coal project (EKCP), 75 per cent owned by Churchill.<br /><br />It told investors that the letter highlights the company's investment in Indonesia and the subsequent actions of various Indonesian parties, both government and private, aimed at expropriating its legitimate rights to develop the project. <br /><br />Churchill believes these actions to be in direct breach of both Indonesian law and Indonesia's obligations under the Bilateral Investment Treaty between the United Kingdom and the Republic of Indonesia.<br /><br />The letter follows initial formal correspondence in November 2011 and also the recent notations on the Indonesian Supreme Court's register of cases, that indicates the Supreme Court intends to reject the appeal by Churchill/Ridlatama in relation to the revocation of the four mining licenses that comprise the EKCP. <br /><br />Chairman David Quinlivan said: "We are determined to continue to seek a full and legitimate remedy for our shareholders and have provided the opportunity for government intervention to protect our rights as a foreign investor in Indonesia."<br /><br />The firm has been entrenched in a legal battle against the Indonesian government for the past year. The case has put the future of the US$1.8 billion East Kutai coal mine development project in the balance.<br /><br />Churchill continues to prepare its arbitration claim against Indonesia for direct breaches of the country’s obligations under the abovementioned treaty.<br /><br />As previously advised the company will file its claim at the International Centre for Settlement of Investment Disputes in Washington in late May 2012.<br /><br />The chairman told Proactive Investors last month that the total cost of a prolonged arbitration process could be in excess of US$5 million, and that Churchill currently has over US$13 million in the bank.<br /><br />“At the moment we have sufficient funds (to cover the arbitration process). If it is going to turn into a long litigation case we would scale back and regroup. <br /><br />"We’ve had estimates from our legal team about how much a long drawn out case would cost, and we’ve certainly got more than enough to last three to four years.”</p> ]]></description>
<pubDate>Fri, 04 May 2012 08:20:00 +0100</pubDate>
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<title><![CDATA[RNS press release - Update on International Arbitration ]]></title>
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<title><![CDATA[News - Churchill Mining: Preparing next steps in Indonesian legal battle ]]></title>
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<pubDate>Wed, 11 Apr 2012 09:19:00 +0100</pubDate>
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<title><![CDATA[News - Churchill Mining to accelerate international arbitration as Indonesia’s Supreme Court rejects appeal ]]></title>
<link>http://www.proactiveinvestors.co.uk/companies/news/41073/churchill-mining-to-accelerate-international-arbitration-as-indonesias-supreme-court-rejects-appeal--41073.html</link>
<description><![CDATA[<p><a href="http://www.proactiveinvestors.co.uk/companies/overview/351/Churchill+Mining" class="companyPopupTrigger" rel="351">Churchill Mining</a> (<a href="http://www.proactiveinvestors.co.uk/companies/overview/351/churchill-mining-0351.html" class="companyPopupTrigger" rel="351">LON:CHL</a>) said it will now look to accelerate its filing of an international arbitration claim against the Republic of Indonesia.</p>
<p>This comes as the firm reported that notations on the register of Indonesia’s Supreme Court show the court has rejected the company’s appeal.</p>
<p>The appeal was an attempt to overturn a decision in a regional tribunal relating to the revocation of mining licences for the US$1.8 billion East Kutai coal project, which prior to the legal problems was on the verge of development.</p>
<p>"It's disappointing to see this notation on the case register,” said chairman David Quinlivan.</p>
<p>“We are determined to continue to seek a legitimate remedy for our shareholders and protect our rights as a foreign investor in Indonesia."</p>
<p>Churchill shares fell almost 20 per cent on AIM this morning to trade at 10p each.</p>
<p>Alongside the appeal, Churchill also sought a possible commercial settlement to end the dispute, and to this end it sent a letter to Indonesia’s president Susilo Bambang Yudhoyono in November.</p>
<p>The letter highlighted that following a significant investment in exploration, Churchill identified a world-class thermal coal deposit in East Kalimantan, only to be subjected to a sustained campaign designed to expropriate Churchill's legitimate rights to develop this deposit, Churchill said.</p>
<p>The company has yet to receive a response to the letter.</p>
<p>Churchill says it will now move its attention to preparing and filing a claim against the Republic of Indonesia for direct breaches of Indonesia's investment laws and Indonesia's obligations under international investment treaties – namely the United Kingdom - Indonesia Bilateral Investment Treaty.</p>
<p>Preparation of the arbitration claim is well advanced and a ‘Request for Arbitration’ will be filed shortly, it explained.</p>
<p>Churchill also told investors it currently has US$13.84 million in the bank.</p>
<p> </p> ]]></description>
<pubDate>Tue, 03 Apr 2012 08:34:00 +0100</pubDate>
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<title><![CDATA[RNS press release - Update on Appeal to Supreme Court ]]></title>
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<pubDate>Tue, 03 Apr 2012 07:30:00 +0100</pubDate>
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<description><![CDATA[03.04.12: -2.12, (10.13) Press: Churchill Mining fell after Indonesia?s Supreme Court had rejected an appeal to overturn the revoking of its coal mining licences, the company warned. Source - Financial Times]]></description>
<pubDate>Tue, 03 Apr 2012 00:00:00 +0100</pubDate>
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<title><![CDATA[RNS press release - Exercise of Options ]]></title>
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<pubDate>Fri, 30 Mar 2012 07:00:00 +0100</pubDate>
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<title><![CDATA[News - Churchill Mining to consider international arbitration in Indonesia dispute ]]></title>
<link>http://www.proactiveinvestors.co.uk/companies/news/40361/churchill-mining-to-consider-international-arbitration-in-indonesia-dispute-40361.html</link>
<description><![CDATA[<p><a href="http://www.proactiveinvestors.co.uk/companies/overview/351/Churchill+Mining" class="companyPopupTrigger" rel="351">Churchill Mining</a> (<a href="http://www.proactiveinvestors.co.uk/companies/overview/351/churchill-mining-0351.html" class="companyPopupTrigger" rel="351">LON:CHL</a>) today said it may start international arbitration proceedings against the Republic of Indonesia.</p>
<p>It says the company has been subjected to a sustained campaign to expropriate its rights as a legitimate foreign investor in Indonesia. The company believes these actions are in direct breach of both Indonesia's investment laws and Indonesia's obligations under a number of international investment treaties.</p>
<p>This has come after the company’s significant investment in coal exploration in the country, it adds.</p>
<p>Churchill explained that it sent a formal letter to the government in November seeking cooperation from senior officials to assist in achieving an amicable and commercial resolution to the investment dispute it is facing. </p>
<p>If an amicable solution cannot be achieved the company will look to international arbitration, it said.</p>
<p>Churchill has a 75 per cent stake in the East Kutai project, which has a huge resource with a JORC compliant estimate of 2.7 billion tonnes of coal and a pre-tax net present value of US$1.8 billion.</p>
<p>The East Kutai project is a highly strategic asset, ideally located both in relation to core energy consuming markets, and in the context of rising demand for energy resources such as high quality thermal coal, Churchill said.</p>
<p>However, the company is currently worth just £16 million as a result of its legal problems.</p>
<p>Initially Churchill was in a dispute with the regional authorities that govern the East Kalimantan province, the area on the island of Borneo which hosts the East Kutai project.</p>
<p>It is currently awaiting an appeal in the Supreme Court of Indonesia.</p>
<p>The appeal was originally launched to try and overturn the decision by the Administrative Tribunal in Samarinda, East Kalimantan, concerning the revocation of the four mining licenses that comprise the East Kutai coal project.</p>
<p>Churchill acquired the licences in 2007 through an acquisition of a 75 per cent stake in Indonesian group Ridlatama after the previous owner Nusantra failed to extend the licences in 2006 and 2007.</p>
<p>Separately, Churchill is also in dispute with Ridlatama, and parties related to Ridlatama. Legal proceedings are underway against a number of parties in relation to this dispute.</p>
<p>Today, in the group’s interim results statement, Churchill said that most development and construction activities at the project have been suspended pending the appeal decision of the Supreme Court. </p>
<p>“We have, however, continued to support the local East Kutai communities through ongoing community development and social programs,” the company said.</p>
<p>“Transportation assistance has been provided to local and public service organisations in and around the EKCP site and we have also assisted local communities with infrastructure maintenance where requested. </p>
<p>“The East Kutai population continues to strongly support our endeavours to maintain our licences despite the fact that employment numbers in both our land acquisition teams and base camp have been significantly reduced as a result of the actions of the regional government.”</p>
<p>Churchill reported a US$6.4 million loss for the period, which increased from US$3 million last year.</p>
<p>Expenses were increased at US$5.1 million due to a higher spend on public relations, government and media outreach costs, legal, professional and consulting expenses. </p>
<p>Within that, legal and professional fees totalled US$1.5 million, which reflects the significant costs incurred as a result of the Administrative Tribunal, subsequent appeal to the Supreme Court of Indonesia and the on-going dispute with Ridlatama, Churchill said.</p>
<p>As of December 31 2011, Churchill had US$22.4 million in cash and it said it presently has US$14.3 million in the bank.</p>
<p> </p> ]]></description>
<pubDate>Fri, 16 Mar 2012 14:15:00 +0000</pubDate>
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<title><![CDATA[RNS press release - Interim Results ]]></title>
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<pubDate>Fri, 16 Mar 2012 11:54:00 +0000</pubDate>
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<title><![CDATA[News - Churchill Mining: Three judges chosen for appeal at Supreme Court of Indonesia ]]></title>
<link>http://www.proactiveinvestors.co.uk/companies/news/38119/churchill-mining-three-judges-chosen-for-appeal-at-supreme-court-of-indonesia-38119.html</link>
<description><![CDATA[<p><a href="http://proactiveinvestors.co.uk/companies/overview/351/Churchill+Mining" class="companyPopupTrigger" rel="351">Churchill Mining</a> (<a href="/companies/overview/351/churchill-mining-0351.html" class="companyPopupTrigger" rel="351">LON:CHL</a>) updated investors this afternoon on its appeal concerning the disputed licences that make up the East Kutai coal project.<br /><br />In a statement, the company said that the head of the state administrative chamber of the Supreme Court of Indonesia had chosen three judges to hear the case.<br /><br />The appeal was originally launched to try and overturn the decision by the Administrative Tribunal in Samarinda, East Kalimantan, concerning the revocation of the four mining licenses that comprise the East Kutai coal project, in which Churchill has a 75 percent stake.<br /><br />The East Kutai project is a huge resource with a JORC compliant estimate of 2.7 billion tonnes of coal and a pre-tax net present value of US$1.8 billion.<br /><br />Churchill acquired the licences in 2007 through an acquisition of a 75 per cent stake in Indonesian group Ridlatama after the previous owner Nusantra failed to extend the licences in 2006 and 2007.<br /><br />As at 2.30 pm, Churchill shares were up 8.27 per cent, to trade at 18 pence each.</p> ]]></description>
<pubDate>Mon, 23 Jan 2012 14:35:00 +0000</pubDate>
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<title><![CDATA[RNS press release - Supreme Court Appeal Update ]]></title>
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<pubDate>Mon, 23 Jan 2012 13:00:00 +0000</pubDate>
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<title><![CDATA[News - Churchill Mining provides update on dispute with Ridlatama Group members ]]></title>
<link>http://www.proactiveinvestors.co.uk/companies/news/37211/churchill-mining-provides-update-on-dispute-with-ridlatama-group-members--37211.html</link>
<description><![CDATA[<p><a href="http://proactiveinvestors.co.uk/companies/overview/351/Churchill+Mining" class="companyPopupTrigger" rel="351">Churchill Mining</a> (<a href="http://www.proactiveinvestors.co.uk/companies/overview/351/churchill-mining-0351.html" class="companyPopupTrigger" rel="351">LON:CHL</a>) provided investors today with an update on its dispute with members of the Ridlatama Group.<br /><br />The dispute relates to alleged breaches of the 2008 investors agreements.<br /><br />The agreements are between Churchill's subsidiary, PT Indonesia Coal Development (ICD), and members of the Ridlatama Group.<br /><br />Churchill's subsidiary, PT Indonesia Coal Development ICD, has lodged a claim against Mr Andreas Rinaldi in Indonesia and began arbitration proceedings in Singapore against other members of the Ridlatama Group for breaches of the investor's agreements. <br /><br />As reported last month, ICD has also received certain letters from Ridlatama Group companies by which they purported to terminate the 2007 Investors Agreement with ICD.<br /><br />Today, Churchill said: "Further to the above arbitration proceedings, ICD has now been served with a counter claim filed on behalf of the Ridlatama Group. <br /><br />"The counterclaim seeks an order that ICD's 75 per cent interests in PT Ridlatama Tambang Mineral and PT Trade Powerdino be declared null and void."<br /><br />The company said that the claim was essentially based on the same matters alleged in the letters and reported on November 11 this year - namely alleged failure to make certain payments by ICD. <br /><br />Churchill said in today's statement: "ICD considers the Ridlatama counter claim frivolous and categorically denies the allegations made. All the relevant payments were made, and ICD continues to believe the claims to be baseless.<br /><br />"ICD has referred the new claims to its solicitors in Indonesia and believes these claims have no commercial or legal merit and will continue to take whatever action it deems necessary to fully protect its legal rights in this matter."</p> ]]></description>
<pubDate>Wed, 21 Dec 2011 14:41:00 +0000</pubDate>
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<pubDate>Wed, 21 Dec 2011 12:26:00 +0000</pubDate>
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<pubDate>Thu, 15 Dec 2011 10:54:00 +0000</pubDate>
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<title><![CDATA[RNS press release - Second Price Monitoring Extn ]]></title>
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<pubDate>Tue, 13 Dec 2011 16:40:00 +0000</pubDate>
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<pubDate>Tue, 13 Dec 2011 16:35:00 +0000</pubDate>
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"title" => "RNS press release - Second Price Monitoring Extn",
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"title" => "News - Churchill Mining appoints John Nagulendran as non-exec director",
"pubdate" => "2012-05-10 11:13:00",
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"description" => "<p><a href="http://www.proactiveinvestors.co.uk/companies/overview/351/Churchill+Mining" class="companyPopupTrigger" rel="351">Churchill Mining</a> (<a href="http://www.proactiveinvestors.co.uk/companies/overview/351/churchill-mining-0351.html" class="companyPopupTrigger" rel="351">LON:CHL</a>) has appointed John Nagulendran as a non-executive director. <br /><br />Nagulendran serves as the assistant general counsel of Pala Investments AG, the exclusive advisor to Pala Investments Holdings Ltd, a substantial shareholder of Churchill.<br /><br />Prior to joining Pala Investments, he was a practising lawyer at international law firm Herbert Smith LLP, where he specialized in the energy and natural resources sectors. <br /><br />He has worked in London, Singapore and Jakarta advising major corporates on acquisitions, disposals and equity financing. <br /><br />Prior to Herbert Smith, Nagulendran was at Rajah & Tann LLP, working on commercial and banking litigation matters. He is qualified as a solicitor in England & Wales and an advocate & solicitor in Singapore.<br /><br />Nagulendran replaces Jan Castro, who has resigned as one of Pala's representatives on the Churchill board.<br /><br />Chairman David Quinlivan said: "We are delighted to gain the commercial and legal experience of Mr Nagulendran as we enter the phase of international arbitration against the Republic of Indonesia.“<br /><br />Only last week, the group filed a further formal letter to the President of Indonesia, seeking support and legal protection in order to achieve an amicable and commercial resolution to the dispute regarding the East Kutai coal project (EKCP), 75 per cent owned by Churchill.<br /><br />The company believes that various Indonesian parties, both government and private, aim to expropriate its legitimate rights to develop the project.<br /><br />Churchill believes these actions to be in direct breach of both Indonesian law and Indonesia's obligations under the Bilateral Investment Treaty between the United Kingdom and the Republic of Indonesia.<br /><br />It is preparing an arbitration claim against Indonesia for direct breaches of the country’s obligations under the abovementioned treaty. It plans to file its claim at the International Centre for Settlement of Investment Disputes in Washington later this month.</p> ",
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"title" => "News - Churchill Mining files new formal letter to Indonesia president in East Kutai coal project dispute",
"pubdate" => "2012-05-04 08:20:00",
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"description" => "<p><a href="http://www.proactiveinvestors.co.uk/companies/overview/351/Churchill+Mining" class="companyPopupTrigger" rel="351">Churchill Mining</a> (<a href="http://www.proactiveinvestors.co.uk/companies/overview/351/churchill-mining-0351.html" class="companyPopupTrigger" rel="351">LON:CHL</a>) has filed a further formal letter to the President of Indonesia, seeking support and legal protection in order to achieve an amicable and commercial resolution to the dispute regarding the East Kutai coal project (EKCP), 75 per cent owned by Churchill.<br /><br />It told investors that the letter highlights the company's investment in Indonesia and the subsequent actions of various Indonesian parties, both government and private, aimed at expropriating its legitimate rights to develop the project. <br /><br />Churchill believes these actions to be in direct breach of both Indonesian law and Indonesia's obligations under the Bilateral Investment Treaty between the United Kingdom and the Republic of Indonesia.<br /><br />The letter follows initial formal correspondence in November 2011 and also the recent notations on the Indonesian Supreme Court's register of cases, that indicates the Supreme Court intends to reject the appeal by Churchill/Ridlatama in relation to the revocation of the four mining licenses that comprise the EKCP. <br /><br />Chairman David Quinlivan said: "We are determined to continue to seek a full and legitimate remedy for our shareholders and have provided the opportunity for government intervention to protect our rights as a foreign investor in Indonesia."<br /><br />The firm has been entrenched in a legal battle against the Indonesian government for the past year. The case has put the future of the US$1.8 billion East Kutai coal mine development project in the balance.<br /><br />Churchill continues to prepare its arbitration claim against Indonesia for direct breaches of the country’s obligations under the abovementioned treaty.<br /><br />As previously advised the company will file its claim at the International Centre for Settlement of Investment Disputes in Washington in late May 2012.<br /><br />The chairman told Proactive Investors last month that the total cost of a prolonged arbitration process could be in excess of US$5 million, and that Churchill currently has over US$13 million in the bank.<br /><br />“At the moment we have sufficient funds (to cover the arbitration process). If it is going to turn into a long litigation case we would scale back and regroup. <br /><br />"We’ve had estimates from our legal team about how much a long drawn out case would cost, and we’ve certainly got more than enough to last three to four years.”</p> ",
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"title" => "News - Churchill Mining: Preparing next steps in Indonesian legal battle",
"pubdate" => "2012-04-11 09:19:00",
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"title" => "News - Churchill Mining to accelerate international arbitration as Indonesia’s Supreme Court rejects appeal ",
"pubdate" => "2012-04-03 08:34:00",
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"description" => "<p><a href="http://www.proactiveinvestors.co.uk/companies/overview/351/Churchill+Mining" class="companyPopupTrigger" rel="351">Churchill Mining</a> (<a href="http://www.proactiveinvestors.co.uk/companies/overview/351/churchill-mining-0351.html" class="companyPopupTrigger" rel="351">LON:CHL</a>) said it will now look to accelerate its filing of an international arbitration claim against the Republic of Indonesia.</p>
<p>This comes as the firm reported that notations on the register of Indonesia’s Supreme Court show the court has rejected the company’s appeal.</p>
<p>The appeal was an attempt to overturn a decision in a regional tribunal relating to the revocation of mining licences for the US$1.8 billion East Kutai coal project, which prior to the legal problems was on the verge of development.</p>
<p>"It's disappointing to see this notation on the case register,” said chairman David Quinlivan.</p>
<p>“We are determined to continue to seek a legitimate remedy for our shareholders and protect our rights as a foreign investor in Indonesia."</p>
<p>Churchill shares fell almost 20 per cent on AIM this morning to trade at 10p each.</p>
<p>Alongside the appeal, Churchill also sought a possible commercial settlement to end the dispute, and to this end it sent a letter to Indonesia’s president Susilo Bambang Yudhoyono in November.</p>
<p>The letter highlighted that following a significant investment in exploration, Churchill identified a world-class thermal coal deposit in East Kalimantan, only to be subjected to a sustained campaign designed to expropriate Churchill's legitimate rights to develop this deposit, Churchill said.</p>
<p>The company has yet to receive a response to the letter.</p>
<p>Churchill says it will now move its attention to preparing and filing a claim against the Republic of Indonesia for direct breaches of Indonesia's investment laws and Indonesia's obligations under international investment treaties – namely the United Kingdom - Indonesia Bilateral Investment Treaty.</p>
<p>Preparation of the arbitration claim is well advanced and a ‘Request for Arbitration’ will be filed shortly, it explained.</p>
<p>Churchill also told investors it currently has US$13.84 million in the bank.</p>
<p> </p> ",
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"description" => "03.04.12: -2.12, (10.13) Press: Churchill Mining fell after Indonesia?s Supreme Court had rejected an appeal to overturn the revoking of its coal mining licences, the company warned. Source - Financial Times",
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"id" => "40361",
"title" => "News - Churchill Mining to consider international arbitration in Indonesia dispute",
"pubdate" => "2012-03-16 14:15:00",
"seftitle" => "churchill-mining-to-consider-international-arbitration-in-indonesia-dispute-40361.html",
"description" => "<p><a href="http://www.proactiveinvestors.co.uk/companies/overview/351/Churchill+Mining" class="companyPopupTrigger" rel="351">Churchill Mining</a> (<a href="http://www.proactiveinvestors.co.uk/companies/overview/351/churchill-mining-0351.html" class="companyPopupTrigger" rel="351">LON:CHL</a>) today said it may start international arbitration proceedings against the Republic of Indonesia.</p>
<p>It says the company has been subjected to a sustained campaign to expropriate its rights as a legitimate foreign investor in Indonesia. The company believes these actions are in direct breach of both Indonesia's investment laws and Indonesia's obligations under a number of international investment treaties.</p>
<p>This has come after the company’s significant investment in coal exploration in the country, it adds.</p>
<p>Churchill explained that it sent a formal letter to the government in November seeking cooperation from senior officials to assist in achieving an amicable and commercial resolution to the investment dispute it is facing. </p>
<p>If an amicable solution cannot be achieved the company will look to international arbitration, it said.</p>
<p>Churchill has a 75 per cent stake in the East Kutai project, which has a huge resource with a JORC compliant estimate of 2.7 billion tonnes of coal and a pre-tax net present value of US$1.8 billion.</p>
<p>The East Kutai project is a highly strategic asset, ideally located both in relation to core energy consuming markets, and in the context of rising demand for energy resources such as high quality thermal coal, Churchill said.</p>
<p>However, the company is currently worth just £16 million as a result of its legal problems.</p>
<p>Initially Churchill was in a dispute with the regional authorities that govern the East Kalimantan province, the area on the island of Borneo which hosts the East Kutai project.</p>
<p>It is currently awaiting an appeal in the Supreme Court of Indonesia.</p>
<p>The appeal was originally launched to try and overturn the decision by the Administrative Tribunal in Samarinda, East Kalimantan, concerning the revocation of the four mining licenses that comprise the East Kutai coal project.</p>
<p>Churchill acquired the licences in 2007 through an acquisition of a 75 per cent stake in Indonesian group Ridlatama after the previous owner Nusantra failed to extend the licences in 2006 and 2007.</p>
<p>Separately, Churchill is also in dispute with Ridlatama, and parties related to Ridlatama. Legal proceedings are underway against a number of parties in relation to this dispute.</p>
<p>Today, in the group’s interim results statement, Churchill said that most development and construction activities at the project have been suspended pending the appeal decision of the Supreme Court. </p>
<p>“We have, however, continued to support the local East Kutai communities through ongoing community development and social programs,” the company said.</p>
<p>“Transportation assistance has been provided to local and public service organisations in and around the EKCP site and we have also assisted local communities with infrastructure maintenance where requested. </p>
<p>“The East Kutai population continues to strongly support our endeavours to maintain our licences despite the fact that employment numbers in both our land acquisition teams and base camp have been significantly reduced as a result of the actions of the regional government.”</p>
<p>Churchill reported a US$6.4 million loss for the period, which increased from US$3 million last year.</p>
<p>Expenses were increased at US$5.1 million due to a higher spend on public relations, government and media outreach costs, legal, professional and consulting expenses. </p>
<p>Within that, legal and professional fees totalled US$1.5 million, which reflects the significant costs incurred as a result of the Administrative Tribunal, subsequent appeal to the Supreme Court of Indonesia and the on-going dispute with Ridlatama, Churchill said.</p>
<p>As of December 31 2011, Churchill had US$22.4 million in cash and it said it presently has US$14.3 million in the bank.</p>
<p> </p> ",
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"id" => "38119",
"title" => "News - Churchill Mining: Three judges chosen for appeal at Supreme Court of Indonesia",
"pubdate" => "2012-01-23 14:35:00",
"seftitle" => "churchill-mining-three-judges-chosen-for-appeal-at-supreme-court-of-indonesia-38119.html",
"description" => "<p><a href="http://proactiveinvestors.co.uk/companies/overview/351/Churchill+Mining" class="companyPopupTrigger" rel="351">Churchill Mining</a> (<a href="/companies/overview/351/churchill-mining-0351.html" class="companyPopupTrigger" rel="351">LON:CHL</a>) updated investors this afternoon on its appeal concerning the disputed licences that make up the East Kutai coal project.<br /><br />In a statement, the company said that the head of the state administrative chamber of the Supreme Court of Indonesia had chosen three judges to hear the case.<br /><br />The appeal was originally launched to try and overturn the decision by the Administrative Tribunal in Samarinda, East Kalimantan, concerning the revocation of the four mining licenses that comprise the East Kutai coal project, in which Churchill has a 75 percent stake.<br /><br />The East Kutai project is a huge resource with a JORC compliant estimate of 2.7 billion tonnes of coal and a pre-tax net present value of US$1.8 billion.<br /><br />Churchill acquired the licences in 2007 through an acquisition of a 75 per cent stake in Indonesian group Ridlatama after the previous owner Nusantra failed to extend the licences in 2006 and 2007.<br /><br />As at 2.30 pm, Churchill shares were up 8.27 per cent, to trade at 18 pence each.</p> ",
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"id" => "37211",
"title" => "News - Churchill Mining provides update on dispute with Ridlatama Group members ",
"pubdate" => "2011-12-21 14:41:00",
"seftitle" => "churchill-mining-provides-update-on-dispute-with-ridlatama-group-members--37211.html",
"description" => "<p><a href="http://proactiveinvestors.co.uk/companies/overview/351/Churchill+Mining" class="companyPopupTrigger" rel="351">Churchill Mining</a> (<a href="http://www.proactiveinvestors.co.uk/companies/overview/351/churchill-mining-0351.html" class="companyPopupTrigger" rel="351">LON:CHL</a>) provided investors today with an update on its dispute with members of the Ridlatama Group.<br /><br />The dispute relates to alleged breaches of the 2008 investors agreements.<br /><br />The agreements are between Churchill's subsidiary, PT Indonesia Coal Development (ICD), and members of the Ridlatama Group.<br /><br />Churchill's subsidiary, PT Indonesia Coal Development ICD, has lodged a claim against Mr Andreas Rinaldi in Indonesia and began arbitration proceedings in Singapore against other members of the Ridlatama Group for breaches of the investor's agreements. <br /><br />As reported last month, ICD has also received certain letters from Ridlatama Group companies by which they purported to terminate the 2007 Investors Agreement with ICD.<br /><br />Today, Churchill said: "Further to the above arbitration proceedings, ICD has now been served with a counter claim filed on behalf of the Ridlatama Group. <br /><br />"The counterclaim seeks an order that ICD's 75 per cent interests in PT Ridlatama Tambang Mineral and PT Trade Powerdino be declared null and void."<br /><br />The company said that the claim was essentially based on the same matters alleged in the letters and reported on November 11 this year - namely alleged failure to make certain payments by ICD. <br /><br />Churchill said in today's statement: "ICD considers the Ridlatama counter claim frivolous and categorically denies the allegations made. All the relevant payments were made, and ICD continues to believe the claims to be baseless.<br /><br />"ICD has referred the new claims to its solicitors in Indonesia and believes these claims have no commercial or legal merit and will continue to take whatever action it deems necessary to fully protect its legal rights in this matter."</p> ",
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<pubDate>Wed, 16 May 2012 16:40:00 +0100</pubDate>
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<pubDate>Wed, 16 May 2012 16:35:00 +0100</pubDate>
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<title><![CDATA[News - Churchill Mining appoints John Nagulendran as non-exec director ]]></title>
<link>http://www.proactiveinvestors.co.uk/companies/news/42606/churchill-mining-appoints-john-nagulendran-as-non-exec-director-42606.html</link>
<description><![CDATA[<p><a href="http://www.proactiveinvestors.co.uk/companies/overview/351/Churchill+Mining" class="companyPopupTrigger" rel="351">Churchill Mining</a> (<a href="http://www.proactiveinvestors.co.uk/companies/overview/351/churchill-mining-0351.html" class="companyPopupTrigger" rel="351">LON:CHL</a>) has appointed John Nagulendran as a non-executive director. <br /><br />Nagulendran serves as the assistant general counsel of Pala Investments AG, the exclusive advisor to Pala Investments Holdings Ltd, a substantial shareholder of Churchill.<br /><br />Prior to joining Pala Investments, he was a practising lawyer at international law firm Herbert Smith LLP, where he specialized in the energy and natural resources sectors. <br /><br />He has worked in London, Singapore and Jakarta advising major corporates on acquisitions, disposals and equity financing. <br /><br />Prior to Herbert Smith, Nagulendran was at Rajah & Tann LLP, working on commercial and banking litigation matters. He is qualified as a solicitor in England & Wales and an advocate & solicitor in Singapore.<br /><br />Nagulendran replaces Jan Castro, who has resigned as one of Pala's representatives on the Churchill board.<br /><br />Chairman David Quinlivan said: "We are delighted to gain the commercial and legal experience of Mr Nagulendran as we enter the phase of international arbitration against the Republic of Indonesia.“<br /><br />Only last week, the group filed a further formal letter to the President of Indonesia, seeking support and legal protection in order to achieve an amicable and commercial resolution to the dispute regarding the East Kutai coal project (EKCP), 75 per cent owned by Churchill.<br /><br />The company believes that various Indonesian parties, both government and private, aim to expropriate its legitimate rights to develop the project.<br /><br />Churchill believes these actions to be in direct breach of both Indonesian law and Indonesia's obligations under the Bilateral Investment Treaty between the United Kingdom and the Republic of Indonesia.<br /><br />It is preparing an arbitration claim against Indonesia for direct breaches of the country’s obligations under the abovementioned treaty. It plans to file its claim at the International Centre for Settlement of Investment Disputes in Washington later this month.</p> ]]></description>
<pubDate>Thu, 10 May 2012 11:13:00 +0100</pubDate>
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<title><![CDATA[RNS press release - Directorate Change ]]></title>
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<pubDate>Thu, 10 May 2012 10:08:00 +0100</pubDate>
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<title><![CDATA[News - Churchill Mining files new formal letter to Indonesia president in East Kutai coal project dispute ]]></title>
<link>http://www.proactiveinvestors.co.uk/companies/news/42365/churchill-mining-files-new-formal-letter-to-indonesia-president-in-east-kutai-coal-project-dispute-42365.html</link>
<description><![CDATA[<p><a href="http://www.proactiveinvestors.co.uk/companies/overview/351/Churchill+Mining" class="companyPopupTrigger" rel="351">Churchill Mining</a> (<a href="http://www.proactiveinvestors.co.uk/companies/overview/351/churchill-mining-0351.html" class="companyPopupTrigger" rel="351">LON:CHL</a>) has filed a further formal letter to the President of Indonesia, seeking support and legal protection in order to achieve an amicable and commercial resolution to the dispute regarding the East Kutai coal project (EKCP), 75 per cent owned by Churchill.<br /><br />It told investors that the letter highlights the company's investment in Indonesia and the subsequent actions of various Indonesian parties, both government and private, aimed at expropriating its legitimate rights to develop the project. <br /><br />Churchill believes these actions to be in direct breach of both Indonesian law and Indonesia's obligations under the Bilateral Investment Treaty between the United Kingdom and the Republic of Indonesia.<br /><br />The letter follows initial formal correspondence in November 2011 and also the recent notations on the Indonesian Supreme Court's register of cases, that indicates the Supreme Court intends to reject the appeal by Churchill/Ridlatama in relation to the revocation of the four mining licenses that comprise the EKCP. <br /><br />Chairman David Quinlivan said: "We are determined to continue to seek a full and legitimate remedy for our shareholders and have provided the opportunity for government intervention to protect our rights as a foreign investor in Indonesia."<br /><br />The firm has been entrenched in a legal battle against the Indonesian government for the past year. The case has put the future of the US$1.8 billion East Kutai coal mine development project in the balance.<br /><br />Churchill continues to prepare its arbitration claim against Indonesia for direct breaches of the country’s obligations under the abovementioned treaty.<br /><br />As previously advised the company will file its claim at the International Centre for Settlement of Investment Disputes in Washington in late May 2012.<br /><br />The chairman told Proactive Investors last month that the total cost of a prolonged arbitration process could be in excess of US$5 million, and that Churchill currently has over US$13 million in the bank.<br /><br />“At the moment we have sufficient funds (to cover the arbitration process). If it is going to turn into a long litigation case we would scale back and regroup. <br /><br />"We’ve had estimates from our legal team about how much a long drawn out case would cost, and we’ve certainly got more than enough to last three to four years.”</p> ]]></description>
<pubDate>Fri, 04 May 2012 08:20:00 +0100</pubDate>
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<title><![CDATA[RNS press release - Update on International Arbitration ]]></title>
<link>http://www.proactiveinvestors.co.uk/companies/rns/120504chl7387c/</link>
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<pubDate>Fri, 04 May 2012 07:10:00 +0100</pubDate>
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<title><![CDATA[News - Churchill Mining: Preparing next steps in Indonesian legal battle ]]></title>
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<pubDate>Wed, 11 Apr 2012 09:19:00 +0100</pubDate>
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<title><![CDATA[News - Churchill Mining to accelerate international arbitration as Indonesia’s Supreme Court rejects appeal ]]></title>
<link>http://www.proactiveinvestors.co.uk/companies/news/41073/churchill-mining-to-accelerate-international-arbitration-as-indonesias-supreme-court-rejects-appeal--41073.html</link>
<description><![CDATA[<p><a href="http://www.proactiveinvestors.co.uk/companies/overview/351/Churchill+Mining" class="companyPopupTrigger" rel="351">Churchill Mining</a> (<a href="http://www.proactiveinvestors.co.uk/companies/overview/351/churchill-mining-0351.html" class="companyPopupTrigger" rel="351">LON:CHL</a>) said it will now look to accelerate its filing of an international arbitration claim against the Republic of Indonesia.</p>
<p>This comes as the firm reported that notations on the register of Indonesia’s Supreme Court show the court has rejected the company’s appeal.</p>
<p>The appeal was an attempt to overturn a decision in a regional tribunal relating to the revocation of mining licences for the US$1.8 billion East Kutai coal project, which prior to the legal problems was on the verge of development.</p>
<p>"It's disappointing to see this notation on the case register,” said chairman David Quinlivan.</p>
<p>“We are determined to continue to seek a legitimate remedy for our shareholders and protect our rights as a foreign investor in Indonesia."</p>
<p>Churchill shares fell almost 20 per cent on AIM this morning to trade at 10p each.</p>
<p>Alongside the appeal, Churchill also sought a possible commercial settlement to end the dispute, and to this end it sent a letter to Indonesia’s president Susilo Bambang Yudhoyono in November.</p>
<p>The letter highlighted that following a significant investment in exploration, Churchill identified a world-class thermal coal deposit in East Kalimantan, only to be subjected to a sustained campaign designed to expropriate Churchill's legitimate rights to develop this deposit, Churchill said.</p>
<p>The company has yet to receive a response to the letter.</p>
<p>Churchill says it will now move its attention to preparing and filing a claim against the Republic of Indonesia for direct breaches of Indonesia's investment laws and Indonesia's obligations under international investment treaties – namely the United Kingdom - Indonesia Bilateral Investment Treaty.</p>
<p>Preparation of the arbitration claim is well advanced and a ‘Request for Arbitration’ will be filed shortly, it explained.</p>
<p>Churchill also told investors it currently has US$13.84 million in the bank.</p>
<p> </p> ]]></description>
<pubDate>Tue, 03 Apr 2012 08:34:00 +0100</pubDate>
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<title><![CDATA[RNS press release - Update on Appeal to Supreme Court ]]></title>
<link>http://www.proactiveinvestors.co.uk/companies/rns/120403chl6913a/</link>
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<pubDate>Tue, 03 Apr 2012 07:30:00 +0100</pubDate>
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<description><![CDATA[03.04.12: -2.12, (10.13) Press: Churchill Mining fell after Indonesia?s Supreme Court had rejected an appeal to overturn the revoking of its coal mining licences, the company warned. Source - Financial Times]]></description>
<pubDate>Tue, 03 Apr 2012 00:00:00 +0100</pubDate>
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<title><![CDATA[RNS press release - Exercise of Options ]]></title>
<link>http://www.proactiveinvestors.co.uk/companies/rns/120330chl3852a/</link>
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<pubDate>Fri, 30 Mar 2012 07:00:00 +0100</pubDate>
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<title><![CDATA[News - Churchill Mining to consider international arbitration in Indonesia dispute ]]></title>
<link>http://www.proactiveinvestors.co.uk/companies/news/40361/churchill-mining-to-consider-international-arbitration-in-indonesia-dispute-40361.html</link>
<description><![CDATA[<p><a href="http://www.proactiveinvestors.co.uk/companies/overview/351/Churchill+Mining" class="companyPopupTrigger" rel="351">Churchill Mining</a> (<a href="http://www.proactiveinvestors.co.uk/companies/overview/351/churchill-mining-0351.html" class="companyPopupTrigger" rel="351">LON:CHL</a>) today said it may start international arbitration proceedings against the Republic of Indonesia.</p>
<p>It says the company has been subjected to a sustained campaign to expropriate its rights as a legitimate foreign investor in Indonesia. The company believes these actions are in direct breach of both Indonesia's investment laws and Indonesia's obligations under a number of international investment treaties.</p>
<p>This has come after the company’s significant investment in coal exploration in the country, it adds.</p>
<p>Churchill explained that it sent a formal letter to the government in November seeking cooperation from senior officials to assist in achieving an amicable and commercial resolution to the investment dispute it is facing. </p>
<p>If an amicable solution cannot be achieved the company will look to international arbitration, it said.</p>
<p>Churchill has a 75 per cent stake in the East Kutai project, which has a huge resource with a JORC compliant estimate of 2.7 billion tonnes of coal and a pre-tax net present value of US$1.8 billion.</p>
<p>The East Kutai project is a highly strategic asset, ideally located both in relation to core energy consuming markets, and in the context of rising demand for energy resources such as high quality thermal coal, Churchill said.</p>
<p>However, the company is currently worth just £16 million as a result of its legal problems.</p>
<p>Initially Churchill was in a dispute with the regional authorities that govern the East Kalimantan province, the area on the island of Borneo which hosts the East Kutai project.</p>
<p>It is currently awaiting an appeal in the Supreme Court of Indonesia.</p>
<p>The appeal was originally launched to try and overturn the decision by the Administrative Tribunal in Samarinda, East Kalimantan, concerning the revocation of the four mining licenses that comprise the East Kutai coal project.</p>
<p>Churchill acquired the licences in 2007 through an acquisition of a 75 per cent stake in Indonesian group Ridlatama after the previous owner Nusantra failed to extend the licences in 2006 and 2007.</p>
<p>Separately, Churchill is also in dispute with Ridlatama, and parties related to Ridlatama. Legal proceedings are underway against a number of parties in relation to this dispute.</p>
<p>Today, in the group’s interim results statement, Churchill said that most development and construction activities at the project have been suspended pending the appeal decision of the Supreme Court. </p>
<p>“We have, however, continued to support the local East Kutai communities through ongoing community development and social programs,” the company said.</p>
<p>“Transportation assistance has been provided to local and public service organisations in and around the EKCP site and we have also assisted local communities with infrastructure maintenance where requested. </p>
<p>“The East Kutai population continues to strongly support our endeavours to maintain our licences despite the fact that employment numbers in both our land acquisition teams and base camp have been significantly reduced as a result of the actions of the regional government.”</p>
<p>Churchill reported a US$6.4 million loss for the period, which increased from US$3 million last year.</p>
<p>Expenses were increased at US$5.1 million due to a higher spend on public relations, government and media outreach costs, legal, professional and consulting expenses. </p>
<p>Within that, legal and professional fees totalled US$1.5 million, which reflects the significant costs incurred as a result of the Administrative Tribunal, subsequent appeal to the Supreme Court of Indonesia and the on-going dispute with Ridlatama, Churchill said.</p>
<p>As of December 31 2011, Churchill had US$22.4 million in cash and it said it presently has US$14.3 million in the bank.</p>
<p> </p> ]]></description>
<pubDate>Fri, 16 Mar 2012 14:15:00 +0000</pubDate>
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<title><![CDATA[RNS press release - Interim Results ]]></title>
<link>http://www.proactiveinvestors.co.uk/companies/rns/120316chl5159z/</link>
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<pubDate>Fri, 16 Mar 2012 11:54:00 +0000</pubDate>
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<title><![CDATA[News - Churchill Mining: Three judges chosen for appeal at Supreme Court of Indonesia ]]></title>
<link>http://www.proactiveinvestors.co.uk/companies/news/38119/churchill-mining-three-judges-chosen-for-appeal-at-supreme-court-of-indonesia-38119.html</link>
<description><![CDATA[<p><a href="http://proactiveinvestors.co.uk/companies/overview/351/Churchill+Mining" class="companyPopupTrigger" rel="351">Churchill Mining</a> (<a href="/companies/overview/351/churchill-mining-0351.html" class="companyPopupTrigger" rel="351">LON:CHL</a>) updated investors this afternoon on its appeal concerning the disputed licences that make up the East Kutai coal project.<br /><br />In a statement, the company said that the head of the state administrative chamber of the Supreme Court of Indonesia had chosen three judges to hear the case.<br /><br />The appeal was originally launched to try and overturn the decision by the Administrative Tribunal in Samarinda, East Kalimantan, concerning the revocation of the four mining licenses that comprise the East Kutai coal project, in which Churchill has a 75 percent stake.<br /><br />The East Kutai project is a huge resource with a JORC compliant estimate of 2.7 billion tonnes of coal and a pre-tax net present value of US$1.8 billion.<br /><br />Churchill acquired the licences in 2007 through an acquisition of a 75 per cent stake in Indonesian group Ridlatama after the previous owner Nusantra failed to extend the licences in 2006 and 2007.<br /><br />As at 2.30 pm, Churchill shares were up 8.27 per cent, to trade at 18 pence each.</p> ]]></description>
<pubDate>Mon, 23 Jan 2012 14:35:00 +0000</pubDate>
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<title><![CDATA[RNS press release - Supreme Court Appeal Update ]]></title>
<link>http://www.proactiveinvestors.co.uk/companies/rns/120123chl0088w/</link>
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<pubDate>Mon, 23 Jan 2012 13:00:00 +0000</pubDate>
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<title><![CDATA[News - Churchill Mining provides update on dispute with Ridlatama Group members ]]></title>
<link>http://www.proactiveinvestors.co.uk/companies/news/37211/churchill-mining-provides-update-on-dispute-with-ridlatama-group-members--37211.html</link>
<description><![CDATA[<p><a href="http://proactiveinvestors.co.uk/companies/overview/351/Churchill+Mining" class="companyPopupTrigger" rel="351">Churchill Mining</a> (<a href="http://www.proactiveinvestors.co.uk/companies/overview/351/churchill-mining-0351.html" class="companyPopupTrigger" rel="351">LON:CHL</a>) provided investors today with an update on its dispute with members of the Ridlatama Group.<br /><br />The dispute relates to alleged breaches of the 2008 investors agreements.<br /><br />The agreements are between Churchill's subsidiary, PT Indonesia Coal Development (ICD), and members of the Ridlatama Group.<br /><br />Churchill's subsidiary, PT Indonesia Coal Development ICD, has lodged a claim against Mr Andreas Rinaldi in Indonesia and began arbitration proceedings in Singapore against other members of the Ridlatama Group for breaches of the investor's agreements. <br /><br />As reported last month, ICD has also received certain letters from Ridlatama Group companies by which they purported to terminate the 2007 Investors Agreement with ICD.<br /><br />Today, Churchill said: "Further to the above arbitration proceedings, ICD has now been served with a counter claim filed on behalf of the Ridlatama Group. <br /><br />"The counterclaim seeks an order that ICD's 75 per cent interests in PT Ridlatama Tambang Mineral and PT Trade Powerdino be declared null and void."<br /><br />The company said that the claim was essentially based on the same matters alleged in the letters and reported on November 11 this year - namely alleged failure to make certain payments by ICD. <br /><br />Churchill said in today's statement: "ICD considers the Ridlatama counter claim frivolous and categorically denies the allegations made. All the relevant payments were made, and ICD continues to believe the claims to be baseless.<br /><br />"ICD has referred the new claims to its solicitors in Indonesia and believes these claims have no commercial or legal merit and will continue to take whatever action it deems necessary to fully protect its legal rights in this matter."</p> ]]></description>
<pubDate>Wed, 21 Dec 2011 14:41:00 +0000</pubDate>
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<title><![CDATA[RNS press release - Dispute with Ridlatama ]]></title>
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<pubDate>Wed, 21 Dec 2011 12:26:00 +0000</pubDate>
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<title><![CDATA[RNS press release - Result of AGM ]]></title>
<link>http://www.proactiveinvestors.co.uk/companies/rns/111215chl0537u/</link>
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<pubDate>Thu, 15 Dec 2011 10:54:00 +0000</pubDate>
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<title><![CDATA[RNS press release - Second Price Monitoring Extn ]]></title>
<link>http://www.proactiveinvestors.co.uk/companies/rns/111213chl9027t/</link>
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<pubDate>Tue, 13 Dec 2011 16:40:00 +0000</pubDate>
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<title><![CDATA[RNS press release - Price Monitoring Extension ]]></title>
<link>http://www.proactiveinvestors.co.uk/companies/rns/111213chl9013t/</link>
<description><![CDATA[]]></description>
<pubDate>Tue, 13 Dec 2011 16:35:00 +0000</pubDate>
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<title><![CDATA[RNS press release - Second Price Monitoring Extn ]]></title>
<link>http://www.proactiveinvestors.co.uk/companies/rns/120516chl5090d/</link>
<description><![CDATA[]]></description>
<pubDate>Wed, 16 May 2012 16:40:00 +0100</pubDate>
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<title><![CDATA[RNS press release - Price Monitoring Extension ]]></title>
<link>http://www.proactiveinvestors.co.uk/companies/rns/120516chl5083d/</link>
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<pubDate>Wed, 16 May 2012 16:35:00 +0100</pubDate>
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<item>
<title><![CDATA[News - Churchill Mining appoints John Nagulendran as non-exec director ]]></title>
<link>http://www.proactiveinvestors.co.uk/companies/news/42606/churchill-mining-appoints-john-nagulendran-as-non-exec-director-42606.html</link>
<description><![CDATA[<p><a href="http://www.proactiveinvestors.co.uk/companies/overview/351/Churchill+Mining" class="companyPopupTrigger" rel="351">Churchill Mining</a> (<a href="http://www.proactiveinvestors.co.uk/companies/overview/351/churchill-mining-0351.html" class="companyPopupTrigger" rel="351">LON:CHL</a>) has appointed John Nagulendran as a non-executive director. <br /><br />Nagulendran serves as the assistant general counsel of Pala Investments AG, the exclusive advisor to Pala Investments Holdings Ltd, a substantial shareholder of Churchill.<br /><br />Prior to joining Pala Investments, he was a practising lawyer at international law firm Herbert Smith LLP, where he specialized in the energy and natural resources sectors. <br /><br />He has worked in London, Singapore and Jakarta advising major corporates on acquisitions, disposals and equity financing. <br /><br />Prior to Herbert Smith, Nagulendran was at Rajah & Tann LLP, working on commercial and banking litigation matters. He is qualified as a solicitor in England & Wales and an advocate & solicitor in Singapore.<br /><br />Nagulendran replaces Jan Castro, who has resigned as one of Pala's representatives on the Churchill board.<br /><br />Chairman David Quinlivan said: "We are delighted to gain the commercial and legal experience of Mr Nagulendran as we enter the phase of international arbitration against the Republic of Indonesia.“<br /><br />Only last week, the group filed a further formal letter to the President of Indonesia, seeking support and legal protection in order to achieve an amicable and commercial resolution to the dispute regarding the East Kutai coal project (EKCP), 75 per cent owned by Churchill.<br /><br />The company believes that various Indonesian parties, both government and private, aim to expropriate its legitimate rights to develop the project.<br /><br />Churchill believes these actions to be in direct breach of both Indonesian law and Indonesia's obligations under the Bilateral Investment Treaty between the United Kingdom and the Republic of Indonesia.<br /><br />It is preparing an arbitration claim against Indonesia for direct breaches of the country’s obligations under the abovementioned treaty. It plans to file its claim at the International Centre for Settlement of Investment Disputes in Washington later this month.</p> ]]></description>
<pubDate>Thu, 10 May 2012 11:13:00 +0100</pubDate>
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<item>
<title><![CDATA[RNS press release - Directorate Change ]]></title>
<link>http://www.proactiveinvestors.co.uk/companies/rns/120510chl0638d/</link>
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<pubDate>Thu, 10 May 2012 10:08:00 +0100</pubDate>
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<item>
<title><![CDATA[News - Churchill Mining files new formal letter to Indonesia president in East Kutai coal project dispute ]]></title>
<link>http://www.proactiveinvestors.co.uk/companies/news/42365/churchill-mining-files-new-formal-letter-to-indonesia-president-in-east-kutai-coal-project-dispute-42365.html</link>
<description><![CDATA[<p><a href="http://www.proactiveinvestors.co.uk/companies/overview/351/Churchill+Mining" class="companyPopupTrigger" rel="351">Churchill Mining</a> (<a href="http://www.proactiveinvestors.co.uk/companies/overview/351/churchill-mining-0351.html" class="companyPopupTrigger" rel="351">LON:CHL</a>) has filed a further formal letter to the President of Indonesia, seeking support and legal protection in order to achieve an amicable and commercial resolution to the dispute regarding the East Kutai coal project (EKCP), 75 per cent owned by Churchill.<br /><br />It told investors that the letter highlights the company's investment in Indonesia and the subsequent actions of various Indonesian parties, both government and private, aimed at expropriating its legitimate rights to develop the project. <br /><br />Churchill believes these actions to be in direct breach of both Indonesian law and Indonesia's obligations under the Bilateral Investment Treaty between the United Kingdom and the Republic of Indonesia.<br /><br />The letter follows initial formal correspondence in November 2011 and also the recent notations on the Indonesian Supreme Court's register of cases, that indicates the Supreme Court intends to reject the appeal by Churchill/Ridlatama in relation to the revocation of the four mining licenses that comprise the EKCP. <br /><br />Chairman David Quinlivan said: "We are determined to continue to seek a full and legitimate remedy for our shareholders and have provided the opportunity for government intervention to protect our rights as a foreign investor in Indonesia."<br /><br />The firm has been entrenched in a legal battle against the Indonesian government for the past year. The case has put the future of the US$1.8 billion East Kutai coal mine development project in the balance.<br /><br />Churchill continues to prepare its arbitration claim against Indonesia for direct breaches of the country’s obligations under the abovementioned treaty.<br /><br />As previously advised the company will file its claim at the International Centre for Settlement of Investment Disputes in Washington in late May 2012.<br /><br />The chairman told Proactive Investors last month that the total cost of a prolonged arbitration process could be in excess of US$5 million, and that Churchill currently has over US$13 million in the bank.<br /><br />“At the moment we have sufficient funds (to cover the arbitration process). If it is going to turn into a long litigation case we would scale back and regroup. <br /><br />"We’ve had estimates from our legal team about how much a long drawn out case would cost, and we’ve certainly got more than enough to last three to four years.”</p> ]]></description>
<pubDate>Fri, 04 May 2012 08:20:00 +0100</pubDate>
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<title><![CDATA[RNS press release - Update on International Arbitration ]]></title>
<link>http://www.proactiveinvestors.co.uk/companies/rns/120504chl7387c/</link>
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<pubDate>Fri, 04 May 2012 07:10:00 +0100</pubDate>
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<title><![CDATA[News - Churchill Mining: Preparing next steps in Indonesian legal battle ]]></title>
<link>http://www.proactiveinvestors.co.uk/companies/news/41332/churchill-mining-preparing-next-steps-in-indonesian-legal-battle-41332.html</link>
<description><![CDATA[<p>Churchill says it has been subjected to a sustained campaign to expropriate its rights as a legitimate foreign investor in Indonesia. It’s now looking to international arbitration as it appears set to lose an appeal in Jakarta’s Supreme Court.</p>
<p> </p>]]></description>
<pubDate>Wed, 11 Apr 2012 09:19:00 +0100</pubDate>
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<title><![CDATA[News - Churchill Mining to accelerate international arbitration as Indonesia’s Supreme Court rejects appeal ]]></title>
<link>http://www.proactiveinvestors.co.uk/companies/news/41073/churchill-mining-to-accelerate-international-arbitration-as-indonesias-supreme-court-rejects-appeal--41073.html</link>
<description><![CDATA[<p><a href="http://www.proactiveinvestors.co.uk/companies/overview/351/Churchill+Mining" class="companyPopupTrigger" rel="351">Churchill Mining</a> (<a href="http://www.proactiveinvestors.co.uk/companies/overview/351/churchill-mining-0351.html" class="companyPopupTrigger" rel="351">LON:CHL</a>) said it will now look to accelerate its filing of an international arbitration claim against the Republic of Indonesia.</p>
<p>This comes as the firm reported that notations on the register of Indonesia’s Supreme Court show the court has rejected the company’s appeal.</p>
<p>The appeal was an attempt to overturn a decision in a regional tribunal relating to the revocation of mining licences for the US$1.8 billion East Kutai coal project, which prior to the legal problems was on the verge of development.</p>
<p>"It's disappointing to see this notation on the case register,” said chairman David Quinlivan.</p>
<p>“We are determined to continue to seek a legitimate remedy for our shareholders and protect our rights as a foreign investor in Indonesia."</p>
<p>Churchill shares fell almost 20 per cent on AIM this morning to trade at 10p each.</p>
<p>Alongside the appeal, Churchill also sought a possible commercial settlement to end the dispute, and to this end it sent a letter to Indonesia’s president Susilo Bambang Yudhoyono in November.</p>
<p>The letter highlighted that following a significant investment in exploration, Churchill identified a world-class thermal coal deposit in East Kalimantan, only to be subjected to a sustained campaign designed to expropriate Churchill's legitimate rights to develop this deposit, Churchill said.</p>
<p>The company has yet to receive a response to the letter.</p>
<p>Churchill says it will now move its attention to preparing and filing a claim against the Republic of Indonesia for direct breaches of Indonesia's investment laws and Indonesia's obligations under international investment treaties – namely the United Kingdom - Indonesia Bilateral Investment Treaty.</p>
<p>Preparation of the arbitration claim is well advanced and a ‘Request for Arbitration’ will be filed shortly, it explained.</p>
<p>Churchill also told investors it currently has US$13.84 million in the bank.</p>
<p> </p> ]]></description>
<pubDate>Tue, 03 Apr 2012 08:34:00 +0100</pubDate>
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<title><![CDATA[RNS press release - Update on Appeal to Supreme Court ]]></title>
<link>http://www.proactiveinvestors.co.uk/companies/rns/120403chl6913a/</link>
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<pubDate>Tue, 03 Apr 2012 07:30:00 +0100</pubDate>
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<title><![CDATA[Broker press ]]></title>
<link></link>
<description><![CDATA[03.04.12: -2.12, (10.13) Press: Churchill Mining fell after Indonesia?s Supreme Court had rejected an appeal to overturn the revoking of its coal mining licences, the company warned. Source - Financial Times]]></description>
<pubDate>Tue, 03 Apr 2012 00:00:00 +0100</pubDate>
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<title><![CDATA[RNS press release - Exercise of Options ]]></title>
<link>http://www.proactiveinvestors.co.uk/companies/rns/120330chl3852a/</link>
<description><![CDATA[]]></description>
<pubDate>Fri, 30 Mar 2012 07:00:00 +0100</pubDate>
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<item>
<title><![CDATA[News - Churchill Mining to consider international arbitration in Indonesia dispute ]]></title>
<link>http://www.proactiveinvestors.co.uk/companies/news/40361/churchill-mining-to-consider-international-arbitration-in-indonesia-dispute-40361.html</link>
<description><![CDATA[<p><a href="http://www.proactiveinvestors.co.uk/companies/overview/351/Churchill+Mining" class="companyPopupTrigger" rel="351">Churchill Mining</a> (<a href="http://www.proactiveinvestors.co.uk/companies/overview/351/churchill-mining-0351.html" class="companyPopupTrigger" rel="351">LON:CHL</a>) today said it may start international arbitration proceedings against the Republic of Indonesia.</p>
<p>It says the company has been subjected to a sustained campaign to expropriate its rights as a legitimate foreign investor in Indonesia. The company believes these actions are in direct breach of both Indonesia's investment laws and Indonesia's obligations under a number of international investment treaties.</p>
<p>This has come after the company’s significant investment in coal exploration in the country, it adds.</p>
<p>Churchill explained that it sent a formal letter to the government in November seeking cooperation from senior officials to assist in achieving an amicable and commercial resolution to the investment dispute it is facing. </p>
<p>If an amicable solution cannot be achieved the company will look to international arbitration, it said.</p>
<p>Churchill has a 75 per cent stake in the East Kutai project, which has a huge resource with a JORC compliant estimate of 2.7 billion tonnes of coal and a pre-tax net present value of US$1.8 billion.</p>
<p>The East Kutai project is a highly strategic asset, ideally located both in relation to core energy consuming markets, and in the context of rising demand for energy resources such as high quality thermal coal, Churchill said.</p>
<p>However, the company is currently worth just £16 million as a result of its legal problems.</p>
<p>Initially Churchill was in a dispute with the regional authorities that govern the East Kalimantan province, the area on the island of Borneo which hosts the East Kutai project.</p>
<p>It is currently awaiting an appeal in the Supreme Court of Indonesia.</p>
<p>The appeal was originally launched to try and overturn the decision by the Administrative Tribunal in Samarinda, East Kalimantan, concerning the revocation of the four mining licenses that comprise the East Kutai coal project.</p>
<p>Churchill acquired the licences in 2007 through an acquisition of a 75 per cent stake in Indonesian group Ridlatama after the previous owner Nusantra failed to extend the licences in 2006 and 2007.</p>
<p>Separately, Churchill is also in dispute with Ridlatama, and parties related to Ridlatama. Legal proceedings are underway against a number of parties in relation to this dispute.</p>
<p>Today, in the group’s interim results statement, Churchill said that most development and construction activities at the project have been suspended pending the appeal decision of the Supreme Court. </p>
<p>“We have, however, continued to support the local East Kutai communities through ongoing community development and social programs,” the company said.</p>
<p>“Transportation assistance has been provided to local and public service organisations in and around the EKCP site and we have also assisted local communities with infrastructure maintenance where requested. </p>
<p>“The East Kutai population continues to strongly support our endeavours to maintain our licences despite the fact that employment numbers in both our land acquisition teams and base camp have been significantly reduced as a result of the actions of the regional government.”</p>
<p>Churchill reported a US$6.4 million loss for the period, which increased from US$3 million last year.</p>
<p>Expenses were increased at US$5.1 million due to a higher spend on public relations, government and media outreach costs, legal, professional and consulting expenses. </p>
<p>Within that, legal and professional fees totalled US$1.5 million, which reflects the significant costs incurred as a result of the Administrative Tribunal, subsequent appeal to the Supreme Court of Indonesia and the on-going dispute with Ridlatama, Churchill said.</p>
<p>As of December 31 2011, Churchill had US$22.4 million in cash and it said it presently has US$14.3 million in the bank.</p>
<p> </p> ]]></description>
<pubDate>Fri, 16 Mar 2012 14:15:00 +0000</pubDate>
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<title><![CDATA[RNS press release - Interim Results ]]></title>
<link>http://www.proactiveinvestors.co.uk/companies/rns/120316chl5159z/</link>
<description><![CDATA[]]></description>
<pubDate>Fri, 16 Mar 2012 11:54:00 +0000</pubDate>
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<item>
<title><![CDATA[News - Churchill Mining: Three judges chosen for appeal at Supreme Court of Indonesia ]]></title>
<link>http://www.proactiveinvestors.co.uk/companies/news/38119/churchill-mining-three-judges-chosen-for-appeal-at-supreme-court-of-indonesia-38119.html</link>
<description><![CDATA[<p><a href="http://proactiveinvestors.co.uk/companies/overview/351/Churchill+Mining" class="companyPopupTrigger" rel="351">Churchill Mining</a> (<a href="/companies/overview/351/churchill-mining-0351.html" class="companyPopupTrigger" rel="351">LON:CHL</a>) updated investors this afternoon on its appeal concerning the disputed licences that make up the East Kutai coal project.<br /><br />In a statement, the company said that the head of the state administrative chamber of the Supreme Court of Indonesia had chosen three judges to hear the case.<br /><br />The appeal was originally launched to try and overturn the decision by the Administrative Tribunal in Samarinda, East Kalimantan, concerning the revocation of the four mining licenses that comprise the East Kutai coal project, in which Churchill has a 75 percent stake.<br /><br />The East Kutai project is a huge resource with a JORC compliant estimate of 2.7 billion tonnes of coal and a pre-tax net present value of US$1.8 billion.<br /><br />Churchill acquired the licences in 2007 through an acquisition of a 75 per cent stake in Indonesian group Ridlatama after the previous owner Nusantra failed to extend the licences in 2006 and 2007.<br /><br />As at 2.30 pm, Churchill shares were up 8.27 per cent, to trade at 18 pence each.</p> ]]></description>
<pubDate>Mon, 23 Jan 2012 14:35:00 +0000</pubDate>
<guid>http://www.proactiveinvestors.co.uk/companies/news/38119/churchill-mining-three-judges-chosen-for-appeal-at-supreme-court-of-indonesia-38119.html</guid>
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<title><![CDATA[RNS press release - Supreme Court Appeal Update ]]></title>
<link>http://www.proactiveinvestors.co.uk/companies/rns/120123chl0088w/</link>
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<pubDate>Mon, 23 Jan 2012 13:00:00 +0000</pubDate>
<guid>http://www.proactiveinvestors.co.uk/companies/rns/120123chl0088w/</guid>
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<title><![CDATA[News - Churchill Mining provides update on dispute with Ridlatama Group members ]]></title>
<link>http://www.proactiveinvestors.co.uk/companies/news/37211/churchill-mining-provides-update-on-dispute-with-ridlatama-group-members--37211.html</link>
<description><![CDATA[<p><a href="http://proactiveinvestors.co.uk/companies/overview/351/Churchill+Mining" class="companyPopupTrigger" rel="351">Churchill Mining</a> (<a href="http://www.proactiveinvestors.co.uk/companies/overview/351/churchill-mining-0351.html" class="companyPopupTrigger" rel="351">LON:CHL</a>) provided investors today with an update on its dispute with members of the Ridlatama Group.<br /><br />The dispute relates to alleged breaches of the 2008 investors agreements.<br /><br />The agreements are between Churchill's subsidiary, PT Indonesia Coal Development (ICD), and members of the Ridlatama Group.<br /><br />Churchill's subsidiary, PT Indonesia Coal Development ICD, has lodged a claim against Mr Andreas Rinaldi in Indonesia and began arbitration proceedings in Singapore against other members of the Ridlatama Group for breaches of the investor's agreements. <br /><br />As reported last month, ICD has also received certain letters from Ridlatama Group companies by which they purported to terminate the 2007 Investors Agreement with ICD.<br /><br />Today, Churchill said: "Further to the above arbitration proceedings, ICD has now been served with a counter claim filed on behalf of the Ridlatama Group. <br /><br />"The counterclaim seeks an order that ICD's 75 per cent interests in PT Ridlatama Tambang Mineral and PT Trade Powerdino be declared null and void."<br /><br />The company said that the claim was essentially based on the same matters alleged in the letters and reported on November 11 this year - namely alleged failure to make certain payments by ICD. <br /><br />Churchill said in today's statement: "ICD considers the Ridlatama counter claim frivolous and categorically denies the allegations made. All the relevant payments were made, and ICD continues to believe the claims to be baseless.<br /><br />"ICD has referred the new claims to its solicitors in Indonesia and believes these claims have no commercial or legal merit and will continue to take whatever action it deems necessary to fully protect its legal rights in this matter."</p> ]]></description>
<pubDate>Wed, 21 Dec 2011 14:41:00 +0000</pubDate>
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<title><![CDATA[RNS press release - Dispute with Ridlatama ]]></title>
<link>http://www.proactiveinvestors.co.uk/companies/rns/111221chl4275u/</link>
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<pubDate>Wed, 21 Dec 2011 12:26:00 +0000</pubDate>
<guid>http://www.proactiveinvestors.co.uk/companies/rns/111221chl4275u/</guid>
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<title><![CDATA[RNS press release - Result of AGM ]]></title>
<link>http://www.proactiveinvestors.co.uk/companies/rns/111215chl0537u/</link>
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<pubDate>Thu, 15 Dec 2011 10:54:00 +0000</pubDate>
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"title" => "News - Churchill Mining appoints John Nagulendran as non-exec director",
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"description" => "<p><a href="http://www.proactiveinvestors.co.uk/companies/overview/351/Churchill+Mining" class="companyPopupTrigger" rel="351">Churchill Mining</a> (<a href="http://www.proactiveinvestors.co.uk/companies/overview/351/churchill-mining-0351.html" class="companyPopupTrigger" rel="351">LON:CHL</a>) has appointed John Nagulendran as a non-executive director. <br /><br />Nagulendran serves as the assistant general counsel of Pala Investments AG, the exclusive advisor to Pala Investments Holdings Ltd, a substantial shareholder of Churchill.<br /><br />Prior to joining Pala Investments, he was a practising lawyer at international law firm Herbert Smith LLP, where he specialized in the energy and natural resources sectors. <br /><br />He has worked in London, Singapore and Jakarta advising major corporates on acquisitions, disposals and equity financing. <br /><br />Prior to Herbert Smith, Nagulendran was at Rajah & Tann LLP, working on commercial and banking litigation matters. He is qualified as a solicitor in England & Wales and an advocate & solicitor in Singapore.<br /><br />Nagulendran replaces Jan Castro, who has resigned as one of Pala's representatives on the Churchill board.<br /><br />Chairman David Quinlivan said: "We are delighted to gain the commercial and legal experience of Mr Nagulendran as we enter the phase of international arbitration against the Republic of Indonesia.“<br /><br />Only last week, the group filed a further formal letter to the President of Indonesia, seeking support and legal protection in order to achieve an amicable and commercial resolution to the dispute regarding the East Kutai coal project (EKCP), 75 per cent owned by Churchill.<br /><br />The company believes that various Indonesian parties, both government and private, aim to expropriate its legitimate rights to develop the project.<br /><br />Churchill believes these actions to be in direct breach of both Indonesian law and Indonesia's obligations under the Bilateral Investment Treaty between the United Kingdom and the Republic of Indonesia.<br /><br />It is preparing an arbitration claim against Indonesia for direct breaches of the country’s obligations under the abovementioned treaty. It plans to file its claim at the International Centre for Settlement of Investment Disputes in Washington later this month.</p> ",
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"title" => "News - Churchill Mining files new formal letter to Indonesia president in East Kutai coal project dispute",
"pubdate" => "2012-05-04 08:20:00",
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"description" => "<p><a href="http://www.proactiveinvestors.co.uk/companies/overview/351/Churchill+Mining" class="companyPopupTrigger" rel="351">Churchill Mining</a> (<a href="http://www.proactiveinvestors.co.uk/companies/overview/351/churchill-mining-0351.html" class="companyPopupTrigger" rel="351">LON:CHL</a>) has filed a further formal letter to the President of Indonesia, seeking support and legal protection in order to achieve an amicable and commercial resolution to the dispute regarding the East Kutai coal project (EKCP), 75 per cent owned by Churchill.<br /><br />It told investors that the letter highlights the company's investment in Indonesia and the subsequent actions of various Indonesian parties, both government and private, aimed at expropriating its legitimate rights to develop the project. <br /><br />Churchill believes these actions to be in direct breach of both Indonesian law and Indonesia's obligations under the Bilateral Investment Treaty between the United Kingdom and the Republic of Indonesia.<br /><br />The letter follows initial formal correspondence in November 2011 and also the recent notations on the Indonesian Supreme Court's register of cases, that indicates the Supreme Court intends to reject the appeal by Churchill/Ridlatama in relation to the revocation of the four mining licenses that comprise the EKCP. <br /><br />Chairman David Quinlivan said: "We are determined to continue to seek a full and legitimate remedy for our shareholders and have provided the opportunity for government intervention to protect our rights as a foreign investor in Indonesia."<br /><br />The firm has been entrenched in a legal battle against the Indonesian government for the past year. The case has put the future of the US$1.8 billion East Kutai coal mine development project in the balance.<br /><br />Churchill continues to prepare its arbitration claim against Indonesia for direct breaches of the country’s obligations under the abovementioned treaty.<br /><br />As previously advised the company will file its claim at the International Centre for Settlement of Investment Disputes in Washington in late May 2012.<br /><br />The chairman told Proactive Investors last month that the total cost of a prolonged arbitration process could be in excess of US$5 million, and that Churchill currently has over US$13 million in the bank.<br /><br />“At the moment we have sufficient funds (to cover the arbitration process). If it is going to turn into a long litigation case we would scale back and regroup. <br /><br />"We’ve had estimates from our legal team about how much a long drawn out case would cost, and we’ve certainly got more than enough to last three to four years.”</p> ",
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"pubdate" => "2012-04-11 09:19:00",
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"title" => "News - Churchill Mining to accelerate international arbitration as Indonesia’s Supreme Court rejects appeal ",
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"description" => "<p><a href="http://www.proactiveinvestors.co.uk/companies/overview/351/Churchill+Mining" class="companyPopupTrigger" rel="351">Churchill Mining</a> (<a href="http://www.proactiveinvestors.co.uk/companies/overview/351/churchill-mining-0351.html" class="companyPopupTrigger" rel="351">LON:CHL</a>) said it will now look to accelerate its filing of an international arbitration claim against the Republic of Indonesia.</p>
<p>This comes as the firm reported that notations on the register of Indonesia’s Supreme Court show the court has rejected the company’s appeal.</p>
<p>The appeal was an attempt to overturn a decision in a regional tribunal relating to the revocation of mining licences for the US$1.8 billion East Kutai coal project, which prior to the legal problems was on the verge of development.</p>
<p>"It's disappointing to see this notation on the case register,” said chairman David Quinlivan.</p>
<p>“We are determined to continue to seek a legitimate remedy for our shareholders and protect our rights as a foreign investor in Indonesia."</p>
<p>Churchill shares fell almost 20 per cent on AIM this morning to trade at 10p each.</p>
<p>Alongside the appeal, Churchill also sought a possible commercial settlement to end the dispute, and to this end it sent a letter to Indonesia’s president Susilo Bambang Yudhoyono in November.</p>
<p>The letter highlighted that following a significant investment in exploration, Churchill identified a world-class thermal coal deposit in East Kalimantan, only to be subjected to a sustained campaign designed to expropriate Churchill's legitimate rights to develop this deposit, Churchill said.</p>
<p>The company has yet to receive a response to the letter.</p>
<p>Churchill says it will now move its attention to preparing and filing a claim against the Republic of Indonesia for direct breaches of Indonesia's investment laws and Indonesia's obligations under international investment treaties – namely the United Kingdom - Indonesia Bilateral Investment Treaty.</p>
<p>Preparation of the arbitration claim is well advanced and a ‘Request for Arbitration’ will be filed shortly, it explained.</p>
<p>Churchill also told investors it currently has US$13.84 million in the bank.</p>
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"id" => "40361",
"title" => "News - Churchill Mining to consider international arbitration in Indonesia dispute",
"pubdate" => "2012-03-16 14:15:00",
"seftitle" => "churchill-mining-to-consider-international-arbitration-in-indonesia-dispute-40361.html",
"description" => "<p><a href="http://www.proactiveinvestors.co.uk/companies/overview/351/Churchill+Mining" class="companyPopupTrigger" rel="351">Churchill Mining</a> (<a href="http://www.proactiveinvestors.co.uk/companies/overview/351/churchill-mining-0351.html" class="companyPopupTrigger" rel="351">LON:CHL</a>) today said it may start international arbitration proceedings against the Republic of Indonesia.</p>
<p>It says the company has been subjected to a sustained campaign to expropriate its rights as a legitimate foreign investor in Indonesia. The company believes these actions are in direct breach of both Indonesia's investment laws and Indonesia's obligations under a number of international investment treaties.</p>
<p>This has come after the company’s significant investment in coal exploration in the country, it adds.</p>
<p>Churchill explained that it sent a formal letter to the government in November seeking cooperation from senior officials to assist in achieving an amicable and commercial resolution to the investment dispute it is facing. </p>
<p>If an amicable solution cannot be achieved the company will look to international arbitration, it said.</p>
<p>Churchill has a 75 per cent stake in the East Kutai project, which has a huge resource with a JORC compliant estimate of 2.7 billion tonnes of coal and a pre-tax net present value of US$1.8 billion.</p>
<p>The East Kutai project is a highly strategic asset, ideally located both in relation to core energy consuming markets, and in the context of rising demand for energy resources such as high quality thermal coal, Churchill said.</p>
<p>However, the company is currently worth just £16 million as a result of its legal problems.</p>
<p>Initially Churchill was in a dispute with the regional authorities that govern the East Kalimantan province, the area on the island of Borneo which hosts the East Kutai project.</p>
<p>It is currently awaiting an appeal in the Supreme Court of Indonesia.</p>
<p>The appeal was originally launched to try and overturn the decision by the Administrative Tribunal in Samarinda, East Kalimantan, concerning the revocation of the four mining licenses that comprise the East Kutai coal project.</p>
<p>Churchill acquired the licences in 2007 through an acquisition of a 75 per cent stake in Indonesian group Ridlatama after the previous owner Nusantra failed to extend the licences in 2006 and 2007.</p>
<p>Separately, Churchill is also in dispute with Ridlatama, and parties related to Ridlatama. Legal proceedings are underway against a number of parties in relation to this dispute.</p>
<p>Today, in the group’s interim results statement, Churchill said that most development and construction activities at the project have been suspended pending the appeal decision of the Supreme Court. </p>
<p>“We have, however, continued to support the local East Kutai communities through ongoing community development and social programs,” the company said.</p>
<p>“Transportation assistance has been provided to local and public service organisations in and around the EKCP site and we have also assisted local communities with infrastructure maintenance where requested. </p>
<p>“The East Kutai population continues to strongly support our endeavours to maintain our licences despite the fact that employment numbers in both our land acquisition teams and base camp have been significantly reduced as a result of the actions of the regional government.”</p>
<p>Churchill reported a US$6.4 million loss for the period, which increased from US$3 million last year.</p>
<p>Expenses were increased at US$5.1 million due to a higher spend on public relations, government and media outreach costs, legal, professional and consulting expenses. </p>
<p>Within that, legal and professional fees totalled US$1.5 million, which reflects the significant costs incurred as a result of the Administrative Tribunal, subsequent appeal to the Supreme Court of Indonesia and the on-going dispute with Ridlatama, Churchill said.</p>
<p>As of December 31 2011, Churchill had US$22.4 million in cash and it said it presently has US$14.3 million in the bank.</p>
<p> </p> ",
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"id" => "38119",
"title" => "News - Churchill Mining: Three judges chosen for appeal at Supreme Court of Indonesia",
"pubdate" => "2012-01-23 14:35:00",
"seftitle" => "churchill-mining-three-judges-chosen-for-appeal-at-supreme-court-of-indonesia-38119.html",
"description" => "<p><a href="http://proactiveinvestors.co.uk/companies/overview/351/Churchill+Mining" class="companyPopupTrigger" rel="351">Churchill Mining</a> (<a href="/companies/overview/351/churchill-mining-0351.html" class="companyPopupTrigger" rel="351">LON:CHL</a>) updated investors this afternoon on its appeal concerning the disputed licences that make up the East Kutai coal project.<br /><br />In a statement, the company said that the head of the state administrative chamber of the Supreme Court of Indonesia had chosen three judges to hear the case.<br /><br />The appeal was originally launched to try and overturn the decision by the Administrative Tribunal in Samarinda, East Kalimantan, concerning the revocation of the four mining licenses that comprise the East Kutai coal project, in which Churchill has a 75 percent stake.<br /><br />The East Kutai project is a huge resource with a JORC compliant estimate of 2.7 billion tonnes of coal and a pre-tax net present value of US$1.8 billion.<br /><br />Churchill acquired the licences in 2007 through an acquisition of a 75 per cent stake in Indonesian group Ridlatama after the previous owner Nusantra failed to extend the licences in 2006 and 2007.<br /><br />As at 2.30 pm, Churchill shares were up 8.27 per cent, to trade at 18 pence each.</p> ",
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"title" => "RNS press release - Supreme Court Appeal Update",
"pubdate" => "2012-01-23 13:00:00",
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"title" => "News - Churchill Mining provides update on dispute with Ridlatama Group members ",
"pubdate" => "2011-12-21 14:41:00",
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"description" => "<p><a href="http://proactiveinvestors.co.uk/companies/overview/351/Churchill+Mining" class="companyPopupTrigger" rel="351">Churchill Mining</a> (<a href="http://www.proactiveinvestors.co.uk/companies/overview/351/churchill-mining-0351.html" class="companyPopupTrigger" rel="351">LON:CHL</a>) provided investors today with an update on its dispute with members of the Ridlatama Group.<br /><br />The dispute relates to alleged breaches of the 2008 investors agreements.<br /><br />The agreements are between Churchill's subsidiary, PT Indonesia Coal Development (ICD), and members of the Ridlatama Group.<br /><br />Churchill's subsidiary, PT Indonesia Coal Development ICD, has lodged a claim against Mr Andreas Rinaldi in Indonesia and began arbitration proceedings in Singapore against other members of the Ridlatama Group for breaches of the investor's agreements. <br /><br />As reported last month, ICD has also received certain letters from Ridlatama Group companies by which they purported to terminate the 2007 Investors Agreement with ICD.<br /><br />Today, Churchill said: "Further to the above arbitration proceedings, ICD has now been served with a counter claim filed on behalf of the Ridlatama Group. <br /><br />"The counterclaim seeks an order that ICD's 75 per cent interests in PT Ridlatama Tambang Mineral and PT Trade Powerdino be declared null and void."<br /><br />The company said that the claim was essentially based on the same matters alleged in the letters and reported on November 11 this year - namely alleged failure to make certain payments by ICD. <br /><br />Churchill said in today's statement: "ICD considers the Ridlatama counter claim frivolous and categorically denies the allegations made. All the relevant payments were made, and ICD continues to believe the claims to be baseless.<br /><br />"ICD has referred the new claims to its solicitors in Indonesia and believes these claims have no commercial or legal merit and will continue to take whatever action it deems necessary to fully protect its legal rights in this matter."</p> ",
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<title><![CDATA[News - Churchill Mining appoints John Nagulendran as non-exec director ]]></title>
<link>http://www.proactiveinvestors.co.uk/companies/news/42606/churchill-mining-appoints-john-nagulendran-as-non-exec-director-42606.html</link>
<description><![CDATA[<p><a href="http://www.proactiveinvestors.co.uk/companies/overview/351/Churchill+Mining" class="companyPopupTrigger" rel="351">Churchill Mining</a> (<a href="http://www.proactiveinvestors.co.uk/companies/overview/351/churchill-mining-0351.html" class="companyPopupTrigger" rel="351">LON:CHL</a>) has appointed John Nagulendran as a non-executive director. <br /><br />Nagulendran serves as the assistant general counsel of Pala Investments AG, the exclusive advisor to Pala Investments Holdings Ltd, a substantial shareholder of Churchill.<br /><br />Prior to joining Pala Investments, he was a practising lawyer at international law firm Herbert Smith LLP, where he specialized in the energy and natural resources sectors. <br /><br />He has worked in London, Singapore and Jakarta advising major corporates on acquisitions, disposals and equity financing. <br /><br />Prior to Herbert Smith, Nagulendran was at Rajah & Tann LLP, working on commercial and banking litigation matters. He is qualified as a solicitor in England & Wales and an advocate & solicitor in Singapore.<br /><br />Nagulendran replaces Jan Castro, who has resigned as one of Pala's representatives on the Churchill board.<br /><br />Chairman David Quinlivan said: "We are delighted to gain the commercial and legal experience of Mr Nagulendran as we enter the phase of international arbitration against the Republic of Indonesia.“<br /><br />Only last week, the group filed a further formal letter to the President of Indonesia, seeking support and legal protection in order to achieve an amicable and commercial resolution to the dispute regarding the East Kutai coal project (EKCP), 75 per cent owned by Churchill.<br /><br />The company believes that various Indonesian parties, both government and private, aim to expropriate its legitimate rights to develop the project.<br /><br />Churchill believes these actions to be in direct breach of both Indonesian law and Indonesia's obligations under the Bilateral Investment Treaty between the United Kingdom and the Republic of Indonesia.<br /><br />It is preparing an arbitration claim against Indonesia for direct breaches of the country’s obligations under the abovementioned treaty. It plans to file its claim at the International Centre for Settlement of Investment Disputes in Washington later this month.</p> ]]></description>
<pubDate>Thu, 10 May 2012 11:13:00 +0100</pubDate>
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<title><![CDATA[RNS press release - Directorate Change ]]></title>
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<pubDate>Thu, 10 May 2012 10:08:00 +0100</pubDate>
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<title><![CDATA[News - Churchill Mining files new formal letter to Indonesia president in East Kutai coal project dispute ]]></title>
<link>http://www.proactiveinvestors.co.uk/companies/news/42365/churchill-mining-files-new-formal-letter-to-indonesia-president-in-east-kutai-coal-project-dispute-42365.html</link>
<description><![CDATA[<p><a href="http://www.proactiveinvestors.co.uk/companies/overview/351/Churchill+Mining" class="companyPopupTrigger" rel="351">Churchill Mining</a> (<a href="http://www.proactiveinvestors.co.uk/companies/overview/351/churchill-mining-0351.html" class="companyPopupTrigger" rel="351">LON:CHL</a>) has filed a further formal letter to the President of Indonesia, seeking support and legal protection in order to achieve an amicable and commercial resolution to the dispute regarding the East Kutai coal project (EKCP), 75 per cent owned by Churchill.<br /><br />It told investors that the letter highlights the company's investment in Indonesia and the subsequent actions of various Indonesian parties, both government and private, aimed at expropriating its legitimate rights to develop the project. <br /><br />Churchill believes these actions to be in direct breach of both Indonesian law and Indonesia's obligations under the Bilateral Investment Treaty between the United Kingdom and the Republic of Indonesia.<br /><br />The letter follows initial formal correspondence in November 2011 and also the recent notations on the Indonesian Supreme Court's register of cases, that indicates the Supreme Court intends to reject the appeal by Churchill/Ridlatama in relation to the revocation of the four mining licenses that comprise the EKCP. <br /><br />Chairman David Quinlivan said: "We are determined to continue to seek a full and legitimate remedy for our shareholders and have provided the opportunity for government intervention to protect our rights as a foreign investor in Indonesia."<br /><br />The firm has been entrenched in a legal battle against the Indonesian government for the past year. The case has put the future of the US$1.8 billion East Kutai coal mine development project in the balance.<br /><br />Churchill continues to prepare its arbitration claim against Indonesia for direct breaches of the country’s obligations under the abovementioned treaty.<br /><br />As previously advised the company will file its claim at the International Centre for Settlement of Investment Disputes in Washington in late May 2012.<br /><br />The chairman told Proactive Investors last month that the total cost of a prolonged arbitration process could be in excess of US$5 million, and that Churchill currently has over US$13 million in the bank.<br /><br />“At the moment we have sufficient funds (to cover the arbitration process). If it is going to turn into a long litigation case we would scale back and regroup. <br /><br />"We’ve had estimates from our legal team about how much a long drawn out case would cost, and we’ve certainly got more than enough to last three to four years.”</p> ]]></description>
<pubDate>Fri, 04 May 2012 08:20:00 +0100</pubDate>
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<title><![CDATA[RNS press release - Update on International Arbitration ]]></title>
<link>http://www.proactiveinvestors.co.uk/companies/rns/120504chl7387c/</link>
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<pubDate>Fri, 04 May 2012 07:10:00 +0100</pubDate>
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<title><![CDATA[News - Churchill Mining: Preparing next steps in Indonesian legal battle ]]></title>
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<pubDate>Wed, 11 Apr 2012 09:19:00 +0100</pubDate>
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<title><![CDATA[News - Churchill Mining to accelerate international arbitration as Indonesia’s Supreme Court rejects appeal ]]></title>
<link>http://www.proactiveinvestors.co.uk/companies/news/41073/churchill-mining-to-accelerate-international-arbitration-as-indonesias-supreme-court-rejects-appeal--41073.html</link>
<description><![CDATA[<p><a href="http://www.proactiveinvestors.co.uk/companies/overview/351/Churchill+Mining" class="companyPopupTrigger" rel="351">Churchill Mining</a> (<a href="http://www.proactiveinvestors.co.uk/companies/overview/351/churchill-mining-0351.html" class="companyPopupTrigger" rel="351">LON:CHL</a>) said it will now look to accelerate its filing of an international arbitration claim against the Republic of Indonesia.</p>
<p>This comes as the firm reported that notations on the register of Indonesia’s Supreme Court show the court has rejected the company’s appeal.</p>
<p>The appeal was an attempt to overturn a decision in a regional tribunal relating to the revocation of mining licences for the US$1.8 billion East Kutai coal project, which prior to the legal problems was on the verge of development.</p>
<p>"It's disappointing to see this notation on the case register,” said chairman David Quinlivan.</p>
<p>“We are determined to continue to seek a legitimate remedy for our shareholders and protect our rights as a foreign investor in Indonesia."</p>
<p>Churchill shares fell almost 20 per cent on AIM this morning to trade at 10p each.</p>
<p>Alongside the appeal, Churchill also sought a possible commercial settlement to end the dispute, and to this end it sent a letter to Indonesia’s president Susilo Bambang Yudhoyono in November.</p>
<p>The letter highlighted that following a significant investment in exploration, Churchill identified a world-class thermal coal deposit in East Kalimantan, only to be subjected to a sustained campaign designed to expropriate Churchill's legitimate rights to develop this deposit, Churchill said.</p>
<p>The company has yet to receive a response to the letter.</p>
<p>Churchill says it will now move its attention to preparing and filing a claim against the Republic of Indonesia for direct breaches of Indonesia's investment laws and Indonesia's obligations under international investment treaties – namely the United Kingdom - Indonesia Bilateral Investment Treaty.</p>
<p>Preparation of the arbitration claim is well advanced and a ‘Request for Arbitration’ will be filed shortly, it explained.</p>
<p>Churchill also told investors it currently has US$13.84 million in the bank.</p>
<p> </p> ]]></description>
<pubDate>Tue, 03 Apr 2012 08:34:00 +0100</pubDate>
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<title><![CDATA[RNS press release - Update on Appeal to Supreme Court ]]></title>
<link>http://www.proactiveinvestors.co.uk/companies/rns/120403chl6913a/</link>
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<pubDate>Tue, 03 Apr 2012 07:30:00 +0100</pubDate>
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<description><![CDATA[03.04.12: -2.12, (10.13) Press: Churchill Mining fell after Indonesia?s Supreme Court had rejected an appeal to overturn the revoking of its coal mining licences, the company warned. Source - Financial Times]]></description>
<pubDate>Tue, 03 Apr 2012 00:00:00 +0100</pubDate>
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<title><![CDATA[RNS press release - Exercise of Options ]]></title>
<link>http://www.proactiveinvestors.co.uk/companies/rns/120330chl3852a/</link>
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<pubDate>Fri, 30 Mar 2012 07:00:00 +0100</pubDate>
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<title><![CDATA[News - Churchill Mining to consider international arbitration in Indonesia dispute ]]></title>
<link>http://www.proactiveinvestors.co.uk/companies/news/40361/churchill-mining-to-consider-international-arbitration-in-indonesia-dispute-40361.html</link>
<description><![CDATA[<p><a href="http://www.proactiveinvestors.co.uk/companies/overview/351/Churchill+Mining" class="companyPopupTrigger" rel="351">Churchill Mining</a> (<a href="http://www.proactiveinvestors.co.uk/companies/overview/351/churchill-mining-0351.html" class="companyPopupTrigger" rel="351">LON:CHL</a>) today said it may start international arbitration proceedings against the Republic of Indonesia.</p>
<p>It says the company has been subjected to a sustained campaign to expropriate its rights as a legitimate foreign investor in Indonesia. The company believes these actions are in direct breach of both Indonesia's investment laws and Indonesia's obligations under a number of international investment treaties.</p>
<p>This has come after the company’s significant investment in coal exploration in the country, it adds.</p>
<p>Churchill explained that it sent a formal letter to the government in November seeking cooperation from senior officials to assist in achieving an amicable and commercial resolution to the investment dispute it is facing. </p>
<p>If an amicable solution cannot be achieved the company will look to international arbitration, it said.</p>
<p>Churchill has a 75 per cent stake in the East Kutai project, which has a huge resource with a JORC compliant estimate of 2.7 billion tonnes of coal and a pre-tax net present value of US$1.8 billion.</p>
<p>The East Kutai project is a highly strategic asset, ideally located both in relation to core energy consuming markets, and in the context of rising demand for energy resources such as high quality thermal coal, Churchill said.</p>
<p>However, the company is currently worth just £16 million as a result of its legal problems.</p>
<p>Initially Churchill was in a dispute with the regional authorities that govern the East Kalimantan province, the area on the island of Borneo which hosts the East Kutai project.</p>
<p>It is currently awaiting an appeal in the Supreme Court of Indonesia.</p>
<p>The appeal was originally launched to try and overturn the decision by the Administrative Tribunal in Samarinda, East Kalimantan, concerning the revocation of the four mining licenses that comprise the East Kutai coal project.</p>
<p>Churchill acquired the licences in 2007 through an acquisition of a 75 per cent stake in Indonesian group Ridlatama after the previous owner Nusantra failed to extend the licences in 2006 and 2007.</p>
<p>Separately, Churchill is also in dispute with Ridlatama, and parties related to Ridlatama. Legal proceedings are underway against a number of parties in relation to this dispute.</p>
<p>Today, in the group’s interim results statement, Churchill said that most development and construction activities at the project have been suspended pending the appeal decision of the Supreme Court. </p>
<p>“We have, however, continued to support the local East Kutai communities through ongoing community development and social programs,” the company said.</p>
<p>“Transportation assistance has been provided to local and public service organisations in and around the EKCP site and we have also assisted local communities with infrastructure maintenance where requested. </p>
<p>“The East Kutai population continues to strongly support our endeavours to maintain our licences despite the fact that employment numbers in both our land acquisition teams and base camp have been significantly reduced as a result of the actions of the regional government.”</p>
<p>Churchill reported a US$6.4 million loss for the period, which increased from US$3 million last year.</p>
<p>Expenses were increased at US$5.1 million due to a higher spend on public relations, government and media outreach costs, legal, professional and consulting expenses. </p>
<p>Within that, legal and professional fees totalled US$1.5 million, which reflects the significant costs incurred as a result of the Administrative Tribunal, subsequent appeal to the Supreme Court of Indonesia and the on-going dispute with Ridlatama, Churchill said.</p>
<p>As of December 31 2011, Churchill had US$22.4 million in cash and it said it presently has US$14.3 million in the bank.</p>
<p> </p> ]]></description>
<pubDate>Fri, 16 Mar 2012 14:15:00 +0000</pubDate>
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<title><![CDATA[RNS press release - Interim Results ]]></title>
<link>http://www.proactiveinvestors.co.uk/companies/rns/120316chl5159z/</link>
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<pubDate>Fri, 16 Mar 2012 11:54:00 +0000</pubDate>
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<title><![CDATA[News - Churchill Mining: Three judges chosen for appeal at Supreme Court of Indonesia ]]></title>
<link>http://www.proactiveinvestors.co.uk/companies/news/38119/churchill-mining-three-judges-chosen-for-appeal-at-supreme-court-of-indonesia-38119.html</link>
<description><![CDATA[<p><a href="http://proactiveinvestors.co.uk/companies/overview/351/Churchill+Mining" class="companyPopupTrigger" rel="351">Churchill Mining</a> (<a href="/companies/overview/351/churchill-mining-0351.html" class="companyPopupTrigger" rel="351">LON:CHL</a>) updated investors this afternoon on its appeal concerning the disputed licences that make up the East Kutai coal project.<br /><br />In a statement, the company said that the head of the state administrative chamber of the Supreme Court of Indonesia had chosen three judges to hear the case.<br /><br />The appeal was originally launched to try and overturn the decision by the Administrative Tribunal in Samarinda, East Kalimantan, concerning the revocation of the four mining licenses that comprise the East Kutai coal project, in which Churchill has a 75 percent stake.<br /><br />The East Kutai project is a huge resource with a JORC compliant estimate of 2.7 billion tonnes of coal and a pre-tax net present value of US$1.8 billion.<br /><br />Churchill acquired the licences in 2007 through an acquisition of a 75 per cent stake in Indonesian group Ridlatama after the previous owner Nusantra failed to extend the licences in 2006 and 2007.<br /><br />As at 2.30 pm, Churchill shares were up 8.27 per cent, to trade at 18 pence each.</p> ]]></description>
<pubDate>Mon, 23 Jan 2012 14:35:00 +0000</pubDate>
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<title><![CDATA[RNS press release - Supreme Court Appeal Update ]]></title>
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<pubDate>Mon, 23 Jan 2012 13:00:00 +0000</pubDate>
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<title><![CDATA[News - Churchill Mining provides update on dispute with Ridlatama Group members ]]></title>
<link>http://www.proactiveinvestors.co.uk/companies/news/37211/churchill-mining-provides-update-on-dispute-with-ridlatama-group-members--37211.html</link>
<description><![CDATA[<p><a href="http://proactiveinvestors.co.uk/companies/overview/351/Churchill+Mining" class="companyPopupTrigger" rel="351">Churchill Mining</a> (<a href="http://www.proactiveinvestors.co.uk/companies/overview/351/churchill-mining-0351.html" class="companyPopupTrigger" rel="351">LON:CHL</a>) provided investors today with an update on its dispute with members of the Ridlatama Group.<br /><br />The dispute relates to alleged breaches of the 2008 investors agreements.<br /><br />The agreements are between Churchill's subsidiary, PT Indonesia Coal Development (ICD), and members of the Ridlatama Group.<br /><br />Churchill's subsidiary, PT Indonesia Coal Development ICD, has lodged a claim against Mr Andreas Rinaldi in Indonesia and began arbitration proceedings in Singapore against other members of the Ridlatama Group for breaches of the investor's agreements. <br /><br />As reported last month, ICD has also received certain letters from Ridlatama Group companies by which they purported to terminate the 2007 Investors Agreement with ICD.<br /><br />Today, Churchill said: "Further to the above arbitration proceedings, ICD has now been served with a counter claim filed on behalf of the Ridlatama Group. <br /><br />"The counterclaim seeks an order that ICD's 75 per cent interests in PT Ridlatama Tambang Mineral and PT Trade Powerdino be declared null and void."<br /><br />The company said that the claim was essentially based on the same matters alleged in the letters and reported on November 11 this year - namely alleged failure to make certain payments by ICD. <br /><br />Churchill said in today's statement: "ICD considers the Ridlatama counter claim frivolous and categorically denies the allegations made. All the relevant payments were made, and ICD continues to believe the claims to be baseless.<br /><br />"ICD has referred the new claims to its solicitors in Indonesia and believes these claims have no commercial or legal merit and will continue to take whatever action it deems necessary to fully protect its legal rights in this matter."</p> ]]></description>
<pubDate>Wed, 21 Dec 2011 14:41:00 +0000</pubDate>
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<title><![CDATA[RNS press release - Dispute with Ridlatama ]]></title>
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<pubDate>Wed, 21 Dec 2011 12:26:00 +0000</pubDate>
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<title><![CDATA[RNS press release - Result of AGM ]]></title>
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<pubDate>Thu, 15 Dec 2011 10:54:00 +0000</pubDate>
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<title><![CDATA[RNS press release - Second Price Monitoring Extn ]]></title>
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<pubDate>Tue, 13 Dec 2011 16:40:00 +0000</pubDate>
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<title><![CDATA[RNS press release - Price Monitoring Extension ]]></title>
<link>http://www.proactiveinvestors.co.uk/companies/rns/111213chl9013t/</link>
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<pubDate>Tue, 13 Dec 2011 16:35:00 +0000</pubDate>
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<title><![CDATA[RNS press release - Second Price Monitoring Extn ]]></title>
<link>http://www.proactiveinvestors.co.uk/companies/rns/120516chl5090d/</link>
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<pubDate>Wed, 16 May 2012 16:40:00 +0100</pubDate>
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<title><![CDATA[RNS press release - Price Monitoring Extension ]]></title>
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<pubDate>Wed, 16 May 2012 16:35:00 +0100</pubDate>
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<title><![CDATA[News - Churchill Mining appoints John Nagulendran as non-exec director ]]></title>
<link>http://www.proactiveinvestors.co.uk/companies/news/42606/churchill-mining-appoints-john-nagulendran-as-non-exec-director-42606.html</link>
<description><![CDATA[<p><a href="http://www.proactiveinvestors.co.uk/companies/overview/351/Churchill+Mining" class="companyPopupTrigger" rel="351">Churchill Mining</a> (<a href="http://www.proactiveinvestors.co.uk/companies/overview/351/churchill-mining-0351.html" class="companyPopupTrigger" rel="351">LON:CHL</a>) has appointed John Nagulendran as a non-executive director. <br /><br />Nagulendran serves as the assistant general counsel of Pala Investments AG, the exclusive advisor to Pala Investments Holdings Ltd, a substantial shareholder of Churchill.<br /><br />Prior to joining Pala Investments, he was a practising lawyer at international law firm Herbert Smith LLP, where he specialized in the energy and natural resources sectors. <br /><br />He has worked in London, Singapore and Jakarta advising major corporates on acquisitions, disposals and equity financing. <br /><br />Prior to Herbert Smith, Nagulendran was at Rajah & Tann LLP, working on commercial and banking litigation matters. He is qualified as a solicitor in England & Wales and an advocate & solicitor in Singapore.<br /><br />Nagulendran replaces Jan Castro, who has resigned as one of Pala's representatives on the Churchill board.<br /><br />Chairman David Quinlivan said: "We are delighted to gain the commercial and legal experience of Mr Nagulendran as we enter the phase of international arbitration against the Republic of Indonesia.“<br /><br />Only last week, the group filed a further formal letter to the President of Indonesia, seeking support and legal protection in order to achieve an amicable and commercial resolution to the dispute regarding the East Kutai coal project (EKCP), 75 per cent owned by Churchill.<br /><br />The company believes that various Indonesian parties, both government and private, aim to expropriate its legitimate rights to develop the project.<br /><br />Churchill believes these actions to be in direct breach of both Indonesian law and Indonesia's obligations under the Bilateral Investment Treaty between the United Kingdom and the Republic of Indonesia.<br /><br />It is preparing an arbitration claim against Indonesia for direct breaches of the country’s obligations under the abovementioned treaty. It plans to file its claim at the International Centre for Settlement of Investment Disputes in Washington later this month.</p> ]]></description>
<pubDate>Thu, 10 May 2012 11:13:00 +0100</pubDate>
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<title><![CDATA[RNS press release - Directorate Change ]]></title>
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<pubDate>Thu, 10 May 2012 10:08:00 +0100</pubDate>
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<title><![CDATA[News - Churchill Mining files new formal letter to Indonesia president in East Kutai coal project dispute ]]></title>
<link>http://www.proactiveinvestors.co.uk/companies/news/42365/churchill-mining-files-new-formal-letter-to-indonesia-president-in-east-kutai-coal-project-dispute-42365.html</link>
<description><![CDATA[<p><a href="http://www.proactiveinvestors.co.uk/companies/overview/351/Churchill+Mining" class="companyPopupTrigger" rel="351">Churchill Mining</a> (<a href="http://www.proactiveinvestors.co.uk/companies/overview/351/churchill-mining-0351.html" class="companyPopupTrigger" rel="351">LON:CHL</a>) has filed a further formal letter to the President of Indonesia, seeking support and legal protection in order to achieve an amicable and commercial resolution to the dispute regarding the East Kutai coal project (EKCP), 75 per cent owned by Churchill.<br /><br />It told investors that the letter highlights the company's investment in Indonesia and the subsequent actions of various Indonesian parties, both government and private, aimed at expropriating its legitimate rights to develop the project. <br /><br />Churchill believes these actions to be in direct breach of both Indonesian law and Indonesia's obligations under the Bilateral Investment Treaty between the United Kingdom and the Republic of Indonesia.<br /><br />The letter follows initial formal correspondence in November 2011 and also the recent notations on the Indonesian Supreme Court's register of cases, that indicates the Supreme Court intends to reject the appeal by Churchill/Ridlatama in relation to the revocation of the four mining licenses that comprise the EKCP. <br /><br />Chairman David Quinlivan said: "We are determined to continue to seek a full and legitimate remedy for our shareholders and have provided the opportunity for government intervention to protect our rights as a foreign investor in Indonesia."<br /><br />The firm has been entrenched in a legal battle against the Indonesian government for the past year. The case has put the future of the US$1.8 billion East Kutai coal mine development project in the balance.<br /><br />Churchill continues to prepare its arbitration claim against Indonesia for direct breaches of the country’s obligations under the abovementioned treaty.<br /><br />As previously advised the company will file its claim at the International Centre for Settlement of Investment Disputes in Washington in late May 2012.<br /><br />The chairman told Proactive Investors last month that the total cost of a prolonged arbitration process could be in excess of US$5 million, and that Churchill currently has over US$13 million in the bank.<br /><br />“At the moment we have sufficient funds (to cover the arbitration process). If it is going to turn into a long litigation case we would scale back and regroup. <br /><br />"We’ve had estimates from our legal team about how much a long drawn out case would cost, and we’ve certainly got more than enough to last three to four years.”</p> ]]></description>
<pubDate>Fri, 04 May 2012 08:20:00 +0100</pubDate>
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<title><![CDATA[RNS press release - Update on International Arbitration ]]></title>
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<pubDate>Fri, 04 May 2012 07:10:00 +0100</pubDate>
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<title><![CDATA[News - Churchill Mining: Preparing next steps in Indonesian legal battle ]]></title>
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<description><![CDATA[<p>Churchill says it has been subjected to a sustained campaign to expropriate its rights as a legitimate foreign investor in Indonesia. It’s now looking to international arbitration as it appears set to lose an appeal in Jakarta’s Supreme Court.</p>
<p> </p>]]></description>
<pubDate>Wed, 11 Apr 2012 09:19:00 +0100</pubDate>
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<title><![CDATA[News - Churchill Mining to accelerate international arbitration as Indonesia’s Supreme Court rejects appeal ]]></title>
<link>http://www.proactiveinvestors.co.uk/companies/news/41073/churchill-mining-to-accelerate-international-arbitration-as-indonesias-supreme-court-rejects-appeal--41073.html</link>
<description><![CDATA[<p><a href="http://www.proactiveinvestors.co.uk/companies/overview/351/Churchill+Mining" class="companyPopupTrigger" rel="351">Churchill Mining</a> (<a href="http://www.proactiveinvestors.co.uk/companies/overview/351/churchill-mining-0351.html" class="companyPopupTrigger" rel="351">LON:CHL</a>) said it will now look to accelerate its filing of an international arbitration claim against the Republic of Indonesia.</p>
<p>This comes as the firm reported that notations on the register of Indonesia’s Supreme Court show the court has rejected the company’s appeal.</p>
<p>The appeal was an attempt to overturn a decision in a regional tribunal relating to the revocation of mining licences for the US$1.8 billion East Kutai coal project, which prior to the legal problems was on the verge of development.</p>
<p>"It's disappointing to see this notation on the case register,” said chairman David Quinlivan.</p>
<p>“We are determined to continue to seek a legitimate remedy for our shareholders and protect our rights as a foreign investor in Indonesia."</p>
<p>Churchill shares fell almost 20 per cent on AIM this morning to trade at 10p each.</p>
<p>Alongside the appeal, Churchill also sought a possible commercial settlement to end the dispute, and to this end it sent a letter to Indonesia’s president Susilo Bambang Yudhoyono in November.</p>
<p>The letter highlighted that following a significant investment in exploration, Churchill identified a world-class thermal coal deposit in East Kalimantan, only to be subjected to a sustained campaign designed to expropriate Churchill's legitimate rights to develop this deposit, Churchill said.</p>
<p>The company has yet to receive a response to the letter.</p>
<p>Churchill says it will now move its attention to preparing and filing a claim against the Republic of Indonesia for direct breaches of Indonesia's investment laws and Indonesia's obligations under international investment treaties – namely the United Kingdom - Indonesia Bilateral Investment Treaty.</p>
<p>Preparation of the arbitration claim is well advanced and a ‘Request for Arbitration’ will be filed shortly, it explained.</p>
<p>Churchill also told investors it currently has US$13.84 million in the bank.</p>
<p> </p> ]]></description>
<pubDate>Tue, 03 Apr 2012 08:34:00 +0100</pubDate>
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<title><![CDATA[RNS press release - Update on Appeal to Supreme Court ]]></title>
<link>http://www.proactiveinvestors.co.uk/companies/rns/120403chl6913a/</link>
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<pubDate>Tue, 03 Apr 2012 07:30:00 +0100</pubDate>
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<description><![CDATA[03.04.12: -2.12, (10.13) Press: Churchill Mining fell after Indonesia?s Supreme Court had rejected an appeal to overturn the revoking of its coal mining licences, the company warned. Source - Financial Times]]></description>
<pubDate>Tue, 03 Apr 2012 00:00:00 +0100</pubDate>
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<title><![CDATA[RNS press release - Exercise of Options ]]></title>
<link>http://www.proactiveinvestors.co.uk/companies/rns/120330chl3852a/</link>
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<pubDate>Fri, 30 Mar 2012 07:00:00 +0100</pubDate>
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<title><![CDATA[News - Churchill Mining to consider international arbitration in Indonesia dispute ]]></title>
<link>http://www.proactiveinvestors.co.uk/companies/news/40361/churchill-mining-to-consider-international-arbitration-in-indonesia-dispute-40361.html</link>
<description><![CDATA[<p><a href="http://www.proactiveinvestors.co.uk/companies/overview/351/Churchill+Mining" class="companyPopupTrigger" rel="351">Churchill Mining</a> (<a href="http://www.proactiveinvestors.co.uk/companies/overview/351/churchill-mining-0351.html" class="companyPopupTrigger" rel="351">LON:CHL</a>) today said it may start international arbitration proceedings against the Republic of Indonesia.</p>
<p>It says the company has been subjected to a sustained campaign to expropriate its rights as a legitimate foreign investor in Indonesia. The company believes these actions are in direct breach of both Indonesia's investment laws and Indonesia's obligations under a number of international investment treaties.</p>
<p>This has come after the company’s significant investment in coal exploration in the country, it adds.</p>
<p>Churchill explained that it sent a formal letter to the government in November seeking cooperation from senior officials to assist in achieving an amicable and commercial resolution to the investment dispute it is facing. </p>
<p>If an amicable solution cannot be achieved the company will look to international arbitration, it said.</p>
<p>Churchill has a 75 per cent stake in the East Kutai project, which has a huge resource with a JORC compliant estimate of 2.7 billion tonnes of coal and a pre-tax net present value of US$1.8 billion.</p>
<p>The East Kutai project is a highly strategic asset, ideally located both in relation to core energy consuming markets, and in the context of rising demand for energy resources such as high quality thermal coal, Churchill said.</p>
<p>However, the company is currently worth just £16 million as a result of its legal problems.</p>
<p>Initially Churchill was in a dispute with the regional authorities that govern the East Kalimantan province, the area on the island of Borneo which hosts the East Kutai project.</p>
<p>It is currently awaiting an appeal in the Supreme Court of Indonesia.</p>
<p>The appeal was originally launched to try and overturn the decision by the Administrative Tribunal in Samarinda, East Kalimantan, concerning the revocation of the four mining licenses that comprise the East Kutai coal project.</p>
<p>Churchill acquired the licences in 2007 through an acquisition of a 75 per cent stake in Indonesian group Ridlatama after the previous owner Nusantra failed to extend the licences in 2006 and 2007.</p>
<p>Separately, Churchill is also in dispute with Ridlatama, and parties related to Ridlatama. Legal proceedings are underway against a number of parties in relation to this dispute.</p>
<p>Today, in the group’s interim results statement, Churchill said that most development and construction activities at the project have been suspended pending the appeal decision of the Supreme Court. </p>
<p>“We have, however, continued to support the local East Kutai communities through ongoing community development and social programs,” the company said.</p>
<p>“Transportation assistance has been provided to local and public service organisations in and around the EKCP site and we have also assisted local communities with infrastructure maintenance where requested. </p>
<p>“The East Kutai population continues to strongly support our endeavours to maintain our licences despite the fact that employment numbers in both our land acquisition teams and base camp have been significantly reduced as a result of the actions of the regional government.”</p>
<p>Churchill reported a US$6.4 million loss for the period, which increased from US$3 million last year.</p>
<p>Expenses were increased at US$5.1 million due to a higher spend on public relations, government and media outreach costs, legal, professional and consulting expenses. </p>
<p>Within that, legal and professional fees totalled US$1.5 million, which reflects the significant costs incurred as a result of the Administrative Tribunal, subsequent appeal to the Supreme Court of Indonesia and the on-going dispute with Ridlatama, Churchill said.</p>
<p>As of December 31 2011, Churchill had US$22.4 million in cash and it said it presently has US$14.3 million in the bank.</p>
<p> </p> ]]></description>
<pubDate>Fri, 16 Mar 2012 14:15:00 +0000</pubDate>
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<title><![CDATA[RNS press release - Interim Results ]]></title>
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<pubDate>Fri, 16 Mar 2012 11:54:00 +0000</pubDate>
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<title><![CDATA[News - Churchill Mining: Three judges chosen for appeal at Supreme Court of Indonesia ]]></title>
<link>http://www.proactiveinvestors.co.uk/companies/news/38119/churchill-mining-three-judges-chosen-for-appeal-at-supreme-court-of-indonesia-38119.html</link>
<description><![CDATA[<p><a href="http://proactiveinvestors.co.uk/companies/overview/351/Churchill+Mining" class="companyPopupTrigger" rel="351">Churchill Mining</a> (<a href="/companies/overview/351/churchill-mining-0351.html" class="companyPopupTrigger" rel="351">LON:CHL</a>) updated investors this afternoon on its appeal concerning the disputed licences that make up the East Kutai coal project.<br /><br />In a statement, the company said that the head of the state administrative chamber of the Supreme Court of Indonesia had chosen three judges to hear the case.<br /><br />The appeal was originally launched to try and overturn the decision by the Administrative Tribunal in Samarinda, East Kalimantan, concerning the revocation of the four mining licenses that comprise the East Kutai coal project, in which Churchill has a 75 percent stake.<br /><br />The East Kutai project is a huge resource with a JORC compliant estimate of 2.7 billion tonnes of coal and a pre-tax net present value of US$1.8 billion.<br /><br />Churchill acquired the licences in 2007 through an acquisition of a 75 per cent stake in Indonesian group Ridlatama after the previous owner Nusantra failed to extend the licences in 2006 and 2007.<br /><br />As at 2.30 pm, Churchill shares were up 8.27 per cent, to trade at 18 pence each.</p> ]]></description>
<pubDate>Mon, 23 Jan 2012 14:35:00 +0000</pubDate>
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<pubDate>Mon, 23 Jan 2012 13:00:00 +0000</pubDate>
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<title><![CDATA[News - Churchill Mining provides update on dispute with Ridlatama Group members ]]></title>
<link>http://www.proactiveinvestors.co.uk/companies/news/37211/churchill-mining-provides-update-on-dispute-with-ridlatama-group-members--37211.html</link>
<description><![CDATA[<p><a href="http://proactiveinvestors.co.uk/companies/overview/351/Churchill+Mining" class="companyPopupTrigger" rel="351">Churchill Mining</a> (<a href="http://www.proactiveinvestors.co.uk/companies/overview/351/churchill-mining-0351.html" class="companyPopupTrigger" rel="351">LON:CHL</a>) provided investors today with an update on its dispute with members of the Ridlatama Group.<br /><br />The dispute relates to alleged breaches of the 2008 investors agreements.<br /><br />The agreements are between Churchill's subsidiary, PT Indonesia Coal Development (ICD), and members of the Ridlatama Group.<br /><br />Churchill's subsidiary, PT Indonesia Coal Development ICD, has lodged a claim against Mr Andreas Rinaldi in Indonesia and began arbitration proceedings in Singapore against other members of the Ridlatama Group for breaches of the investor's agreements. <br /><br />As reported last month, ICD has also received certain letters from Ridlatama Group companies by which they purported to terminate the 2007 Investors Agreement with ICD.<br /><br />Today, Churchill said: "Further to the above arbitration proceedings, ICD has now been served with a counter claim filed on behalf of the Ridlatama Group. <br /><br />"The counterclaim seeks an order that ICD's 75 per cent interests in PT Ridlatama Tambang Mineral and PT Trade Powerdino be declared null and void."<br /><br />The company said that the claim was essentially based on the same matters alleged in the letters and reported on November 11 this year - namely alleged failure to make certain payments by ICD. <br /><br />Churchill said in today's statement: "ICD considers the Ridlatama counter claim frivolous and categorically denies the allegations made. All the relevant payments were made, and ICD continues to believe the claims to be baseless.<br /><br />"ICD has referred the new claims to its solicitors in Indonesia and believes these claims have no commercial or legal merit and will continue to take whatever action it deems necessary to fully protect its legal rights in this matter."</p> ]]></description>
<pubDate>Wed, 21 Dec 2011 14:41:00 +0000</pubDate>
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<title><![CDATA[RNS press release - Dispute with Ridlatama ]]></title>
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<pubDate>Wed, 21 Dec 2011 12:26:00 +0000</pubDate>
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<pubDate>Thu, 15 Dec 2011 10:54:00 +0000</pubDate>
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<title><![CDATA[RNS press release - Second Price Monitoring Extn ]]></title>
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<pubDate>Tue, 13 Dec 2011 16:40:00 +0000</pubDate>
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<pubDate>Tue, 13 Dec 2011 16:35:00 +0000</pubDate>
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"title" => "News - Churchill Mining appoints John Nagulendran as non-exec director",
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"description" => "<p><a href="http://www.proactiveinvestors.co.uk/companies/overview/351/Churchill+Mining" class="companyPopupTrigger" rel="351">Churchill Mining</a> (<a href="http://www.proactiveinvestors.co.uk/companies/overview/351/churchill-mining-0351.html" class="companyPopupTrigger" rel="351">LON:CHL</a>) has appointed John Nagulendran as a non-executive director. <br /><br />Nagulendran serves as the assistant general counsel of Pala Investments AG, the exclusive advisor to Pala Investments Holdings Ltd, a substantial shareholder of Churchill.<br /><br />Prior to joining Pala Investments, he was a practising lawyer at international law firm Herbert Smith LLP, where he specialized in the energy and natural resources sectors. <br /><br />He has worked in London, Singapore and Jakarta advising major corporates on acquisitions, disposals and equity financing. <br /><br />Prior to Herbert Smith, Nagulendran was at Rajah & Tann LLP, working on commercial and banking litigation matters. He is qualified as a solicitor in England & Wales and an advocate & solicitor in Singapore.<br /><br />Nagulendran replaces Jan Castro, who has resigned as one of Pala's representatives on the Churchill board.<br /><br />Chairman David Quinlivan said: "We are delighted to gain the commercial and legal experience of Mr Nagulendran as we enter the phase of international arbitration against the Republic of Indonesia.“<br /><br />Only last week, the group filed a further formal letter to the President of Indonesia, seeking support and legal protection in order to achieve an amicable and commercial resolution to the dispute regarding the East Kutai coal project (EKCP), 75 per cent owned by Churchill.<br /><br />The company believes that various Indonesian parties, both government and private, aim to expropriate its legitimate rights to develop the project.<br /><br />Churchill believes these actions to be in direct breach of both Indonesian law and Indonesia's obligations under the Bilateral Investment Treaty between the United Kingdom and the Republic of Indonesia.<br /><br />It is preparing an arbitration claim against Indonesia for direct breaches of the country’s obligations under the abovementioned treaty. It plans to file its claim at the International Centre for Settlement of Investment Disputes in Washington later this month.</p> ",
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"title" => "News - Churchill Mining files new formal letter to Indonesia president in East Kutai coal project dispute",
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"description" => "<p><a href="http://www.proactiveinvestors.co.uk/companies/overview/351/Churchill+Mining" class="companyPopupTrigger" rel="351">Churchill Mining</a> (<a href="http://www.proactiveinvestors.co.uk/companies/overview/351/churchill-mining-0351.html" class="companyPopupTrigger" rel="351">LON:CHL</a>) has filed a further formal letter to the President of Indonesia, seeking support and legal protection in order to achieve an amicable and commercial resolution to the dispute regarding the East Kutai coal project (EKCP), 75 per cent owned by Churchill.<br /><br />It told investors that the letter highlights the company's investment in Indonesia and the subsequent actions of various Indonesian parties, both government and private, aimed at expropriating its legitimate rights to develop the project. <br /><br />Churchill believes these actions to be in direct breach of both Indonesian law and Indonesia's obligations under the Bilateral Investment Treaty between the United Kingdom and the Republic of Indonesia.<br /><br />The letter follows initial formal correspondence in November 2011 and also the recent notations on the Indonesian Supreme Court's register of cases, that indicates the Supreme Court intends to reject the appeal by Churchill/Ridlatama in relation to the revocation of the four mining licenses that comprise the EKCP. <br /><br />Chairman David Quinlivan said: "We are determined to continue to seek a full and legitimate remedy for our shareholders and have provided the opportunity for government intervention to protect our rights as a foreign investor in Indonesia."<br /><br />The firm has been entrenched in a legal battle against the Indonesian government for the past year. The case has put the future of the US$1.8 billion East Kutai coal mine development project in the balance.<br /><br />Churchill continues to prepare its arbitration claim against Indonesia for direct breaches of the country’s obligations under the abovementioned treaty.<br /><br />As previously advised the company will file its claim at the International Centre for Settlement of Investment Disputes in Washington in late May 2012.<br /><br />The chairman told Proactive Investors last month that the total cost of a prolonged arbitration process could be in excess of US$5 million, and that Churchill currently has over US$13 million in the bank.<br /><br />“At the moment we have sufficient funds (to cover the arbitration process). If it is going to turn into a long litigation case we would scale back and regroup. <br /><br />"We’ve had estimates from our legal team about how much a long drawn out case would cost, and we’ve certainly got more than enough to last three to four years.”</p> ",
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"title" => "News - Churchill Mining: Preparing next steps in Indonesian legal battle",
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"title" => "News - Churchill Mining to accelerate international arbitration as Indonesia’s Supreme Court rejects appeal ",
"pubdate" => "2012-04-03 08:34:00",
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"description" => "<p><a href="http://www.proactiveinvestors.co.uk/companies/overview/351/Churchill+Mining" class="companyPopupTrigger" rel="351">Churchill Mining</a> (<a href="http://www.proactiveinvestors.co.uk/companies/overview/351/churchill-mining-0351.html" class="companyPopupTrigger" rel="351">LON:CHL</a>) said it will now look to accelerate its filing of an international arbitration claim against the Republic of Indonesia.</p>
<p>This comes as the firm reported that notations on the register of Indonesia’s Supreme Court show the court has rejected the company’s appeal.</p>
<p>The appeal was an attempt to overturn a decision in a regional tribunal relating to the revocation of mining licences for the US$1.8 billion East Kutai coal project, which prior to the legal problems was on the verge of development.</p>
<p>"It's disappointing to see this notation on the case register,” said chairman David Quinlivan.</p>
<p>“We are determined to continue to seek a legitimate remedy for our shareholders and protect our rights as a foreign investor in Indonesia."</p>
<p>Churchill shares fell almost 20 per cent on AIM this morning to trade at 10p each.</p>
<p>Alongside the appeal, Churchill also sought a possible commercial settlement to end the dispute, and to this end it sent a letter to Indonesia’s president Susilo Bambang Yudhoyono in November.</p>
<p>The letter highlighted that following a significant investment in exploration, Churchill identified a world-class thermal coal deposit in East Kalimantan, only to be subjected to a sustained campaign designed to expropriate Churchill's legitimate rights to develop this deposit, Churchill said.</p>
<p>The company has yet to receive a response to the letter.</p>
<p>Churchill says it will now move its attention to preparing and filing a claim against the Republic of Indonesia for direct breaches of Indonesia's investment laws and Indonesia's obligations under international investment treaties – namely the United Kingdom - Indonesia Bilateral Investment Treaty.</p>
<p>Preparation of the arbitration claim is well advanced and a ‘Request for Arbitration’ will be filed shortly, it explained.</p>
<p>Churchill also told investors it currently has US$13.84 million in the bank.</p>
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"title" => "News - Churchill Mining to consider international arbitration in Indonesia dispute",
"pubdate" => "2012-03-16 14:15:00",
"seftitle" => "churchill-mining-to-consider-international-arbitration-in-indonesia-dispute-40361.html",
"description" => "<p><a href="http://www.proactiveinvestors.co.uk/companies/overview/351/Churchill+Mining" class="companyPopupTrigger" rel="351">Churchill Mining</a> (<a href="http://www.proactiveinvestors.co.uk/companies/overview/351/churchill-mining-0351.html" class="companyPopupTrigger" rel="351">LON:CHL</a>) today said it may start international arbitration proceedings against the Republic of Indonesia.</p>
<p>It says the company has been subjected to a sustained campaign to expropriate its rights as a legitimate foreign investor in Indonesia. The company believes these actions are in direct breach of both Indonesia's investment laws and Indonesia's obligations under a number of international investment treaties.</p>
<p>This has come after the company’s significant investment in coal exploration in the country, it adds.</p>
<p>Churchill explained that it sent a formal letter to the government in November seeking cooperation from senior officials to assist in achieving an amicable and commercial resolution to the investment dispute it is facing. </p>
<p>If an amicable solution cannot be achieved the company will look to international arbitration, it said.</p>
<p>Churchill has a 75 per cent stake in the East Kutai project, which has a huge resource with a JORC compliant estimate of 2.7 billion tonnes of coal and a pre-tax net present value of US$1.8 billion.</p>
<p>The East Kutai project is a highly strategic asset, ideally located both in relation to core energy consuming markets, and in the context of rising demand for energy resources such as high quality thermal coal, Churchill said.</p>
<p>However, the company is currently worth just £16 million as a result of its legal problems.</p>
<p>Initially Churchill was in a dispute with the regional authorities that govern the East Kalimantan province, the area on the island of Borneo which hosts the East Kutai project.</p>
<p>It is currently awaiting an appeal in the Supreme Court of Indonesia.</p>
<p>The appeal was originally launched to try and overturn the decision by the Administrative Tribunal in Samarinda, East Kalimantan, concerning the revocation of the four mining licenses that comprise the East Kutai coal project.</p>
<p>Churchill acquired the licences in 2007 through an acquisition of a 75 per cent stake in Indonesian group Ridlatama after the previous owner Nusantra failed to extend the licences in 2006 and 2007.</p>
<p>Separately, Churchill is also in dispute with Ridlatama, and parties related to Ridlatama. Legal proceedings are underway against a number of parties in relation to this dispute.</p>
<p>Today, in the group’s interim results statement, Churchill said that most development and construction activities at the project have been suspended pending the appeal decision of the Supreme Court. </p>
<p>“We have, however, continued to support the local East Kutai communities through ongoing community development and social programs,” the company said.</p>
<p>“Transportation assistance has been provided to local and public service organisations in and around the EKCP site and we have also assisted local communities with infrastructure maintenance where requested. </p>
<p>“The East Kutai population continues to strongly support our endeavours to maintain our licences despite the fact that employment numbers in both our land acquisition teams and base camp have been significantly reduced as a result of the actions of the regional government.”</p>
<p>Churchill reported a US$6.4 million loss for the period, which increased from US$3 million last year.</p>
<p>Expenses were increased at US$5.1 million due to a higher spend on public relations, government and media outreach costs, legal, professional and consulting expenses. </p>
<p>Within that, legal and professional fees totalled US$1.5 million, which reflects the significant costs incurred as a result of the Administrative Tribunal, subsequent appeal to the Supreme Court of Indonesia and the on-going dispute with Ridlatama, Churchill said.</p>
<p>As of December 31 2011, Churchill had US$22.4 million in cash and it said it presently has US$14.3 million in the bank.</p>
<p> </p> ",
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"title" => "RNS press release - Interim Results",
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array(
"id" => "38119",
"title" => "News - Churchill Mining: Three judges chosen for appeal at Supreme Court of Indonesia",
"pubdate" => "2012-01-23 14:35:00",
"seftitle" => "churchill-mining-three-judges-chosen-for-appeal-at-supreme-court-of-indonesia-38119.html",
"description" => "<p><a href="http://proactiveinvestors.co.uk/companies/overview/351/Churchill+Mining" class="companyPopupTrigger" rel="351">Churchill Mining</a> (<a href="/companies/overview/351/churchill-mining-0351.html" class="companyPopupTrigger" rel="351">LON:CHL</a>) updated investors this afternoon on its appeal concerning the disputed licences that make up the East Kutai coal project.<br /><br />In a statement, the company said that the head of the state administrative chamber of the Supreme Court of Indonesia had chosen three judges to hear the case.<br /><br />The appeal was originally launched to try and overturn the decision by the Administrative Tribunal in Samarinda, East Kalimantan, concerning the revocation of the four mining licenses that comprise the East Kutai coal project, in which Churchill has a 75 percent stake.<br /><br />The East Kutai project is a huge resource with a JORC compliant estimate of 2.7 billion tonnes of coal and a pre-tax net present value of US$1.8 billion.<br /><br />Churchill acquired the licences in 2007 through an acquisition of a 75 per cent stake in Indonesian group Ridlatama after the previous owner Nusantra failed to extend the licences in 2006 and 2007.<br /><br />As at 2.30 pm, Churchill shares were up 8.27 per cent, to trade at 18 pence each.</p> ",
"link" => "http://www.proactiveinvestors.co.uk/companies/news/38119/churchill-mining-three-judges-chosen-for-appeal-at-supreme-court-of-indonesia-38119.html"
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"title" => "RNS press release - Supreme Court Appeal Update",
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"link" => "http://www.proactiveinvestors.co.uk/companies/rns/120123chl0088w/"
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array(
"id" => "37211",
"title" => "News - Churchill Mining provides update on dispute with Ridlatama Group members ",
"pubdate" => "2011-12-21 14:41:00",
"seftitle" => "churchill-mining-provides-update-on-dispute-with-ridlatama-group-members--37211.html",
"description" => "<p><a href="http://proactiveinvestors.co.uk/companies/overview/351/Churchill+Mining" class="companyPopupTrigger" rel="351">Churchill Mining</a> (<a href="http://www.proactiveinvestors.co.uk/companies/overview/351/churchill-mining-0351.html" class="companyPopupTrigger" rel="351">LON:CHL</a>) provided investors today with an update on its dispute with members of the Ridlatama Group.<br /><br />The dispute relates to alleged breaches of the 2008 investors agreements.<br /><br />The agreements are between Churchill's subsidiary, PT Indonesia Coal Development (ICD), and members of the Ridlatama Group.<br /><br />Churchill's subsidiary, PT Indonesia Coal Development ICD, has lodged a claim against Mr Andreas Rinaldi in Indonesia and began arbitration proceedings in Singapore against other members of the Ridlatama Group for breaches of the investor's agreements. <br /><br />As reported last month, ICD has also received certain letters from Ridlatama Group companies by which they purported to terminate the 2007 Investors Agreement with ICD.<br /><br />Today, Churchill said: "Further to the above arbitration proceedings, ICD has now been served with a counter claim filed on behalf of the Ridlatama Group. <br /><br />"The counterclaim seeks an order that ICD's 75 per cent interests in PT Ridlatama Tambang Mineral and PT Trade Powerdino be declared null and void."<br /><br />The company said that the claim was essentially based on the same matters alleged in the letters and reported on November 11 this year - namely alleged failure to make certain payments by ICD. <br /><br />Churchill said in today's statement: "ICD considers the Ridlatama counter claim frivolous and categorically denies the allegations made. All the relevant payments were made, and ICD continues to believe the claims to be baseless.<br /><br />"ICD has referred the new claims to its solicitors in Indonesia and believes these claims have no commercial or legal merit and will continue to take whatever action it deems necessary to fully protect its legal rights in this matter."</p> ",
"link" => "http://www.proactiveinvestors.co.uk/companies/news/37211/churchill-mining-provides-update-on-dispute-with-ridlatama-group-members--37211.html"
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"title" => "RNS press release - Dispute with Ridlatama",
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"link" => "http://www.proactiveinvestors.co.uk/companies/rns/111221chl4275u/"
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"title" => "RNS press release - Result of AGM",
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<title><![CDATA[RNS press release - Second Price Monitoring Extn ]]></title>
<link>http://www.proactiveinvestors.co.uk/companies/rns/120516chl5090d/</link>
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<pubDate>Wed, 16 May 2012 16:40:00 +0100</pubDate>
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<item>
<title><![CDATA[RNS press release - Price Monitoring Extension ]]></title>
<link>http://www.proactiveinvestors.co.uk/companies/rns/120516chl5083d/</link>
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<pubDate>Wed, 16 May 2012 16:35:00 +0100</pubDate>
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<item>
<title><![CDATA[News - Churchill Mining appoints John Nagulendran as non-exec director ]]></title>
<link>http://www.proactiveinvestors.co.uk/companies/news/42606/churchill-mining-appoints-john-nagulendran-as-non-exec-director-42606.html</link>
<description><![CDATA[<p><a href="http://www.proactiveinvestors.co.uk/companies/overview/351/Churchill+Mining" class="companyPopupTrigger" rel="351">Churchill Mining</a> (<a href="http://www.proactiveinvestors.co.uk/companies/overview/351/churchill-mining-0351.html" class="companyPopupTrigger" rel="351">LON:CHL</a>) has appointed John Nagulendran as a non-executive director. <br /><br />Nagulendran serves as the assistant general counsel of Pala Investments AG, the exclusive advisor to Pala Investments Holdings Ltd, a substantial shareholder of Churchill.<br /><br />Prior to joining Pala Investments, he was a practising lawyer at international law firm Herbert Smith LLP, where he specialized in the energy and natural resources sectors. <br /><br />He has worked in London, Singapore and Jakarta advising major corporates on acquisitions, disposals and equity financing. <br /><br />Prior to Herbert Smith, Nagulendran was at Rajah & Tann LLP, working on commercial and banking litigation matters. He is qualified as a solicitor in England & Wales and an advocate & solicitor in Singapore.<br /><br />Nagulendran replaces Jan Castro, who has resigned as one of Pala's representatives on the Churchill board.<br /><br />Chairman David Quinlivan said: "We are delighted to gain the commercial and legal experience of Mr Nagulendran as we enter the phase of international arbitration against the Republic of Indonesia.“<br /><br />Only last week, the group filed a further formal letter to the President of Indonesia, seeking support and legal protection in order to achieve an amicable and commercial resolution to the dispute regarding the East Kutai coal project (EKCP), 75 per cent owned by Churchill.<br /><br />The company believes that various Indonesian parties, both government and private, aim to expropriate its legitimate rights to develop the project.<br /><br />Churchill believes these actions to be in direct breach of both Indonesian law and Indonesia's obligations under the Bilateral Investment Treaty between the United Kingdom and the Republic of Indonesia.<br /><br />It is preparing an arbitration claim against Indonesia for direct breaches of the country’s obligations under the abovementioned treaty. It plans to file its claim at the International Centre for Settlement of Investment Disputes in Washington later this month.</p> ]]></description>
<pubDate>Thu, 10 May 2012 11:13:00 +0100</pubDate>
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</item>
<item>
<title><![CDATA[RNS press release - Directorate Change ]]></title>
<link>http://www.proactiveinvestors.co.uk/companies/rns/120510chl0638d/</link>
<description><![CDATA[]]></description>
<pubDate>Thu, 10 May 2012 10:08:00 +0100</pubDate>
<guid>http://www.proactiveinvestors.co.uk/companies/rns/120510chl0638d/</guid>
</item>
<item>
<title><![CDATA[News - Churchill Mining files new formal letter to Indonesia president in East Kutai coal project dispute ]]></title>
<link>http://www.proactiveinvestors.co.uk/companies/news/42365/churchill-mining-files-new-formal-letter-to-indonesia-president-in-east-kutai-coal-project-dispute-42365.html</link>
<description><![CDATA[<p><a href="http://www.proactiveinvestors.co.uk/companies/overview/351/Churchill+Mining" class="companyPopupTrigger" rel="351">Churchill Mining</a> (<a href="http://www.proactiveinvestors.co.uk/companies/overview/351/churchill-mining-0351.html" class="companyPopupTrigger" rel="351">LON:CHL</a>) has filed a further formal letter to the President of Indonesia, seeking support and legal protection in order to achieve an amicable and commercial resolution to the dispute regarding the East Kutai coal project (EKCP), 75 per cent owned by Churchill.<br /><br />It told investors that the letter highlights the company's investment in Indonesia and the subsequent actions of various Indonesian parties, both government and private, aimed at expropriating its legitimate rights to develop the project. <br /><br />Churchill believes these actions to be in direct breach of both Indonesian law and Indonesia's obligations under the Bilateral Investment Treaty between the United Kingdom and the Republic of Indonesia.<br /><br />The letter follows initial formal correspondence in November 2011 and also the recent notations on the Indonesian Supreme Court's register of cases, that indicates the Supreme Court intends to reject the appeal by Churchill/Ridlatama in relation to the revocation of the four mining licenses that comprise the EKCP. <br /><br />Chairman David Quinlivan said: "We are determined to continue to seek a full and legitimate remedy for our shareholders and have provided the opportunity for government intervention to protect our rights as a foreign investor in Indonesia."<br /><br />The firm has been entrenched in a legal battle against the Indonesian government for the past year. The case has put the future of the US$1.8 billion East Kutai coal mine development project in the balance.<br /><br />Churchill continues to prepare its arbitration claim against Indonesia for direct breaches of the country’s obligations under the abovementioned treaty.<br /><br />As previously advised the company will file its claim at the International Centre for Settlement of Investment Disputes in Washington in late May 2012.<br /><br />The chairman told Proactive Investors last month that the total cost of a prolonged arbitration process could be in excess of US$5 million, and that Churchill currently has over US$13 million in the bank.<br /><br />“At the moment we have sufficient funds (to cover the arbitration process). If it is going to turn into a long litigation case we would scale back and regroup. <br /><br />"We’ve had estimates from our legal team about how much a long drawn out case would cost, and we’ve certainly got more than enough to last three to four years.”</p> ]]></description>
<pubDate>Fri, 04 May 2012 08:20:00 +0100</pubDate>
<guid>http://www.proactiveinvestors.co.uk/companies/news/42365/churchill-mining-files-new-formal-letter-to-indonesia-president-in-east-kutai-coal-project-dispute-42365.html</guid>
</item>
<item>
<title><![CDATA[RNS press release - Update on International Arbitration ]]></title>
<link>http://www.proactiveinvestors.co.uk/companies/rns/120504chl7387c/</link>
<description><![CDATA[]]></description>
<pubDate>Fri, 04 May 2012 07:10:00 +0100</pubDate>
<guid>http://www.proactiveinvestors.co.uk/companies/rns/120504chl7387c/</guid>
</item>
<item>
<title><![CDATA[News - Churchill Mining: Preparing next steps in Indonesian legal battle ]]></title>
<link>http://www.proactiveinvestors.co.uk/companies/news/41332/churchill-mining-preparing-next-steps-in-indonesian-legal-battle-41332.html</link>
<description><![CDATA[<p>Churchill says it has been subjected to a sustained campaign to expropriate its rights as a legitimate foreign investor in Indonesia. It’s now looking to international arbitration as it appears set to lose an appeal in Jakarta’s Supreme Court.</p>
<p> </p>]]></description>
<pubDate>Wed, 11 Apr 2012 09:19:00 +0100</pubDate>
<guid>http://www.proactiveinvestors.co.uk/companies/news/41332/churchill-mining-preparing-next-steps-in-indonesian-legal-battle-41332.html</guid>
</item>
<item>
<title><![CDATA[News - Churchill Mining to accelerate international arbitration as Indonesia’s Supreme Court rejects appeal ]]></title>
<link>http://www.proactiveinvestors.co.uk/companies/news/41073/churchill-mining-to-accelerate-international-arbitration-as-indonesias-supreme-court-rejects-appeal--41073.html</link>
<description><![CDATA[<p><a href="http://www.proactiveinvestors.co.uk/companies/overview/351/Churchill+Mining" class="companyPopupTrigger" rel="351">Churchill Mining</a> (<a href="http://www.proactiveinvestors.co.uk/companies/overview/351/churchill-mining-0351.html" class="companyPopupTrigger" rel="351">LON:CHL</a>) said it will now look to accelerate its filing of an international arbitration claim against the Republic of Indonesia.</p>
<p>This comes as the firm reported that notations on the register of Indonesia’s Supreme Court show the court has rejected the company’s appeal.</p>
<p>The appeal was an attempt to overturn a decision in a regional tribunal relating to the revocation of mining licences for the US$1.8 billion East Kutai coal project, which prior to the legal problems was on the verge of development.</p>
<p>"It's disappointing to see this notation on the case register,” said chairman David Quinlivan.</p>
<p>“We are determined to continue to seek a legitimate remedy for our shareholders and protect our rights as a foreign investor in Indonesia."</p>
<p>Churchill shares fell almost 20 per cent on AIM this morning to trade at 10p each.</p>
<p>Alongside the appeal, Churchill also sought a possible commercial settlement to end the dispute, and to this end it sent a letter to Indonesia’s president Susilo Bambang Yudhoyono in November.</p>
<p>The letter highlighted that following a significant investment in exploration, Churchill identified a world-class thermal coal deposit in East Kalimantan, only to be subjected to a sustained campaign designed to expropriate Churchill's legitimate rights to develop this deposit, Churchill said.</p>
<p>The company has yet to receive a response to the letter.</p>
<p>Churchill says it will now move its attention to preparing and filing a claim against the Republic of Indonesia for direct breaches of Indonesia's investment laws and Indonesia's obligations under international investment treaties – namely the United Kingdom - Indonesia Bilateral Investment Treaty.</p>
<p>Preparation of the arbitration claim is well advanced and a ‘Request for Arbitration’ will be filed shortly, it explained.</p>
<p>Churchill also told investors it currently has US$13.84 million in the bank.</p>
<p> </p> ]]></description>
<pubDate>Tue, 03 Apr 2012 08:34:00 +0100</pubDate>
<guid>http://www.proactiveinvestors.co.uk/companies/news/41073/churchill-mining-to-accelerate-international-arbitration-as-indonesias-supreme-court-rejects-appeal--41073.html</guid>
</item>
<item>
<title><![CDATA[RNS press release - Update on Appeal to Supreme Court ]]></title>
<link>http://www.proactiveinvestors.co.uk/companies/rns/120403chl6913a/</link>
<description><![CDATA[]]></description>
<pubDate>Tue, 03 Apr 2012 07:30:00 +0100</pubDate>
<guid>http://www.proactiveinvestors.co.uk/companies/rns/120403chl6913a/</guid>
</item>
<item>
<title><![CDATA[Broker press ]]></title>
<link></link>
<description><![CDATA[03.04.12: -2.12, (10.13) Press: Churchill Mining fell after Indonesia?s Supreme Court had rejected an appeal to overturn the revoking of its coal mining licences, the company warned. Source - Financial Times]]></description>
<pubDate>Tue, 03 Apr 2012 00:00:00 +0100</pubDate>
<guid></guid>
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<item>
<title><![CDATA[RNS press release - Exercise of Options ]]></title>
<link>http://www.proactiveinvestors.co.uk/companies/rns/120330chl3852a/</link>
<description><![CDATA[]]></description>
<pubDate>Fri, 30 Mar 2012 07:00:00 +0100</pubDate>
<guid>http://www.proactiveinvestors.co.uk/companies/rns/120330chl3852a/</guid>
</item>
<item>
<title><![CDATA[News - Churchill Mining to consider international arbitration in Indonesia dispute ]]></title>
<link>http://www.proactiveinvestors.co.uk/companies/news/40361/churchill-mining-to-consider-international-arbitration-in-indonesia-dispute-40361.html</link>
<description><![CDATA[<p><a href="http://www.proactiveinvestors.co.uk/companies/overview/351/Churchill+Mining" class="companyPopupTrigger" rel="351">Churchill Mining</a> (<a href="http://www.proactiveinvestors.co.uk/companies/overview/351/churchill-mining-0351.html" class="companyPopupTrigger" rel="351">LON:CHL</a>) today said it may start international arbitration proceedings against the Republic of Indonesia.</p>
<p>It says the company has been subjected to a sustained campaign to expropriate its rights as a legitimate foreign investor in Indonesia. The company believes these actions are in direct breach of both Indonesia's investment laws and Indonesia's obligations under a number of international investment treaties.</p>
<p>This has come after the company’s significant investment in coal exploration in the country, it adds.</p>
<p>Churchill explained that it sent a formal letter to the government in November seeking cooperation from senior officials to assist in achieving an amicable and commercial resolution to the investment dispute it is facing. </p>
<p>If an amicable solution cannot be achieved the company will look to international arbitration, it said.</p>
<p>Churchill has a 75 per cent stake in the East Kutai project, which has a huge resource with a JORC compliant estimate of 2.7 billion tonnes of coal and a pre-tax net present value of US$1.8 billion.</p>
<p>The East Kutai project is a highly strategic asset, ideally located both in relation to core energy consuming markets, and in the context of rising demand for energy resources such as high quality thermal coal, Churchill said.</p>
<p>However, the company is currently worth just £16 million as a result of its legal problems.</p>
<p>Initially Churchill was in a dispute with the regional authorities that govern the East Kalimantan province, the area on the island of Borneo which hosts the East Kutai project.</p>
<p>It is currently awaiting an appeal in the Supreme Court of Indonesia.</p>
<p>The appeal was originally launched to try and overturn the decision by the Administrative Tribunal in Samarinda, East Kalimantan, concerning the revocation of the four mining licenses that comprise the East Kutai coal project.</p>
<p>Churchill acquired the licences in 2007 through an acquisition of a 75 per cent stake in Indonesian group Ridlatama after the previous owner Nusantra failed to extend the licences in 2006 and 2007.</p>
<p>Separately, Churchill is also in dispute with Ridlatama, and parties related to Ridlatama. Legal proceedings are underway against a number of parties in relation to this dispute.</p>
<p>Today, in the group’s interim results statement, Churchill said that most development and construction activities at the project have been suspended pending the appeal decision of the Supreme Court. </p>
<p>“We have, however, continued to support the local East Kutai communities through ongoing community development and social programs,” the company said.</p>
<p>“Transportation assistance has been provided to local and public service organisations in and around the EKCP site and we have also assisted local communities with infrastructure maintenance where requested. </p>
<p>“The East Kutai population continues to strongly support our endeavours to maintain our licences despite the fact that employment numbers in both our land acquisition teams and base camp have been significantly reduced as a result of the actions of the regional government.”</p>
<p>Churchill reported a US$6.4 million loss for the period, which increased from US$3 million last year.</p>
<p>Expenses were increased at US$5.1 million due to a higher spend on public relations, government and media outreach costs, legal, professional and consulting expenses. </p>
<p>Within that, legal and professional fees totalled US$1.5 million, which reflects the significant costs incurred as a result of the Administrative Tribunal, subsequent appeal to the Supreme Court of Indonesia and the on-going dispute with Ridlatama, Churchill said.</p>
<p>As of December 31 2011, Churchill had US$22.4 million in cash and it said it presently has US$14.3 million in the bank.</p>
<p> </p> ]]></description>
<pubDate>Fri, 16 Mar 2012 14:15:00 +0000</pubDate>
<guid>http://www.proactiveinvestors.co.uk/companies/news/40361/churchill-mining-to-consider-international-arbitration-in-indonesia-dispute-40361.html</guid>
</item>
<item>
<title><![CDATA[RNS press release - Interim Results ]]></title>
<link>http://www.proactiveinvestors.co.uk/companies/rns/120316chl5159z/</link>
<description><![CDATA[]]></description>
<pubDate>Fri, 16 Mar 2012 11:54:00 +0000</pubDate>
<guid>http://www.proactiveinvestors.co.uk/companies/rns/120316chl5159z/</guid>
</item>
<item>
<title><![CDATA[News - Churchill Mining: Three judges chosen for appeal at Supreme Court of Indonesia ]]></title>
<link>http://www.proactiveinvestors.co.uk/companies/news/38119/churchill-mining-three-judges-chosen-for-appeal-at-supreme-court-of-indonesia-38119.html</link>
<description><![CDATA[<p><a href="http://proactiveinvestors.co.uk/companies/overview/351/Churchill+Mining" class="companyPopupTrigger" rel="351">Churchill Mining</a> (<a href="/companies/overview/351/churchill-mining-0351.html" class="companyPopupTrigger" rel="351">LON:CHL</a>) updated investors this afternoon on its appeal concerning the disputed licences that make up the East Kutai coal project.<br /><br />In a statement, the company said that the head of the state administrative chamber of the Supreme Court of Indonesia had chosen three judges to hear the case.<br /><br />The appeal was originally launched to try and overturn the decision by the Administrative Tribunal in Samarinda, East Kalimantan, concerning the revocation of the four mining licenses that comprise the East Kutai coal project, in which Churchill has a 75 percent stake.<br /><br />The East Kutai project is a huge resource with a JORC compliant estimate of 2.7 billion tonnes of coal and a pre-tax net present value of US$1.8 billion.<br /><br />Churchill acquired the licences in 2007 through an acquisition of a 75 per cent stake in Indonesian group Ridlatama after the previous owner Nusantra failed to extend the licences in 2006 and 2007.<br /><br />As at 2.30 pm, Churchill shares were up 8.27 per cent, to trade at 18 pence each.</p> ]]></description>
<pubDate>Mon, 23 Jan 2012 14:35:00 +0000</pubDate>
<guid>http://www.proactiveinvestors.co.uk/companies/news/38119/churchill-mining-three-judges-chosen-for-appeal-at-supreme-court-of-indonesia-38119.html</guid>
</item>
<item>
<title><![CDATA[RNS press release - Supreme Court Appeal Update ]]></title>
<link>http://www.proactiveinvestors.co.uk/companies/rns/120123chl0088w/</link>
<description><![CDATA[]]></description>
<pubDate>Mon, 23 Jan 2012 13:00:00 +0000</pubDate>
<guid>http://www.proactiveinvestors.co.uk/companies/rns/120123chl0088w/</guid>
</item>
<item>
<title><![CDATA[News - Churchill Mining provides update on dispute with Ridlatama Group members ]]></title>
<link>http://www.proactiveinvestors.co.uk/companies/news/37211/churchill-mining-provides-update-on-dispute-with-ridlatama-group-members--37211.html</link>
<description><![CDATA[<p><a href="http://proactiveinvestors.co.uk/companies/overview/351/Churchill+Mining" class="companyPopupTrigger" rel="351">Churchill Mining</a> (<a href="http://www.proactiveinvestors.co.uk/companies/overview/351/churchill-mining-0351.html" class="companyPopupTrigger" rel="351">LON:CHL</a>) provided investors today with an update on its dispute with members of the Ridlatama Group.<br /><br />The dispute relates to alleged breaches of the 2008 investors agreements.<br /><br />The agreements are between Churchill's subsidiary, PT Indonesia Coal Development (ICD), and members of the Ridlatama Group.<br /><br />Churchill's subsidiary, PT Indonesia Coal Development ICD, has lodged a claim against Mr Andreas Rinaldi in Indonesia and began arbitration proceedings in Singapore against other members of the Ridlatama Group for breaches of the investor's agreements. <br /><br />As reported last month, ICD has also received certain letters from Ridlatama Group companies by which they purported to terminate the 2007 Investors Agreement with ICD.<br /><br />Today, Churchill said: "Further to the above arbitration proceedings, ICD has now been served with a counter claim filed on behalf of the Ridlatama Group. <br /><br />"The counterclaim seeks an order that ICD's 75 per cent interests in PT Ridlatama Tambang Mineral and PT Trade Powerdino be declared null and void."<br /><br />The company said that the claim was essentially based on the same matters alleged in the letters and reported on November 11 this year - namely alleged failure to make certain payments by ICD. <br /><br />Churchill said in today's statement: "ICD considers the Ridlatama counter claim frivolous and categorically denies the allegations made. All the relevant payments were made, and ICD continues to believe the claims to be baseless.<br /><br />"ICD has referred the new claims to its solicitors in Indonesia and believes these claims have no commercial or legal merit and will continue to take whatever action it deems necessary to fully protect its legal rights in this matter."</p> ]]></description>
<pubDate>Wed, 21 Dec 2011 14:41:00 +0000</pubDate>
<guid>http://www.proactiveinvestors.co.uk/companies/news/37211/churchill-mining-provides-update-on-dispute-with-ridlatama-group-members--37211.html</guid>
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<item>
<title><![CDATA[RNS press release - Dispute with Ridlatama ]]></title>
<link>http://www.proactiveinvestors.co.uk/companies/rns/111221chl4275u/</link>
<description><![CDATA[]]></description>
<pubDate>Wed, 21 Dec 2011 12:26:00 +0000</pubDate>
<guid>http://www.proactiveinvestors.co.uk/companies/rns/111221chl4275u/</guid>
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<item>
<title><![CDATA[RNS press release - Result of AGM ]]></title>
<link>http://www.proactiveinvestors.co.uk/companies/rns/111215chl0537u/</link>
<description><![CDATA[]]></description>
<pubDate>Thu, 15 Dec 2011 10:54:00 +0000</pubDate>
<guid>http://www.proactiveinvestors.co.uk/companies/rns/111215chl0537u/</guid>
</item>
<item>
<title><![CDATA[RNS press release - Second Price Monitoring Extn ]]></title>
<link>http://www.proactiveinvestors.co.uk/companies/rns/111213chl9027t/</link>
<description><![CDATA[]]></description>
<pubDate>Tue, 13 Dec 2011 16:40:00 +0000</pubDate>
<guid>http://www.proactiveinvestors.co.uk/companies/rns/111213chl9027t/</guid>
</item>
<item>
<title><![CDATA[RNS press release - Price Monitoring Extension ]]></title>
<link>http://www.proactiveinvestors.co.uk/companies/rns/111213chl9013t/</link>
<description><![CDATA[]]></description>
<pubDate>Tue, 13 Dec 2011 16:35:00 +0000</pubDate>
<guid>http://www.proactiveinvestors.co.uk/companies/rns/111213chl9013t/</guid>
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This comes as the firm reported that notations on the register of Indonesia’s Supreme Court show the court has rejected the company’s appeal.
The appeal was an attempt to overturn a decision in a regional tribunal relating to the revocation of mining licences for the US$1.8 billion East Kutai coal project, which prior to the legal problems was on the verge of development.
"It's disappointing to see this notation on the case register,” said chairman David Quinlivan.
“We are determined to continue to seek a legitimate remedy for our shareholders and protect our rights as a foreign investor in Indonesia."
Churchill shares fell almost 20 per cent on AIM this morning to trade at 10p each.
Alongside the appeal, Churchill also sought a possible commercial settlement to end the dispute, and to this end it sent a letter to Indonesia’s president Susilo Bambang Yudhoyono in November.
The letter highlighted that following a significant investment in exploration, Churchill identified a world-class thermal coal deposit in East Kalimantan, only to be subjected to a sustained campaign designed to expropriate Churchill's legitimate rights to develop this deposit, Churchill said.
The company has yet to receive a response to the letter.
Churchill says it will now move its attention to preparing and filing a claim against the Republic of Indonesia for direct breaches of Indonesia's investment laws and Indonesia's obligations under international investment treaties – namely the United Kingdom - Indonesia Bilateral Investment Treaty.
Preparation of the arbitration claim is well advanced and a ‘Request for Arbitration’ will be filed shortly, it explained.
Churchill also told investors it currently has US$13.84 million in the bank.
]]>
It says the company has been subjected to a sustained campaign to expropriate its rights as a legitimate foreign investor in Indonesia. The company believes these actions are in direct breach of both Indonesia's investment laws and Indonesia's obligations under a number of international investment treaties.
This has come after the company’s significant investment in coal exploration in the country, it adds.
Churchill explained that it sent a formal letter to the government in November seeking cooperation from senior officials to assist in achieving an amicable and commercial resolution to the investment dispute it is facing.
If an amicable solution cannot be achieved the company will look to international arbitration, it said.
Churchill has a 75 per cent stake in the East Kutai project, which has a huge resource with a JORC compliant estimate of 2.7 billion tonnes of coal and a pre-tax net present value of US$1.8 billion.
The East Kutai project is a highly strategic asset, ideally located both in relation to core energy consuming markets, and in the context of rising demand for energy resources such as high quality thermal coal, Churchill said.
However, the company is currently worth just £16 million as a result of its legal problems.
Initially Churchill was in a dispute with the regional authorities that govern the East Kalimantan province, the area on the island of Borneo which hosts the East Kutai project.
It is currently awaiting an appeal in the Supreme Court of Indonesia.
The appeal was originally launched to try and overturn the decision by the Administrative Tribunal in Samarinda, East Kalimantan, concerning the revocation of the four mining licenses that comprise the East Kutai coal project.
Churchill acquired the licences in 2007 through an acquisition of a 75 per cent stake in Indonesian group Ridlatama after the previous owner Nusantra failed to extend the licences in 2006 and 2007.
Separately, Churchill is also in dispute with Ridlatama, and parties related to Ridlatama. Legal proceedings are underway against a number of parties in relation to this dispute.
Today, in the group’s interim results statement, Churchill said that most development and construction activities at the project have been suspended pending the appeal decision of the Supreme Court.
“We have, however, continued to support the local East Kutai communities through ongoing community development and social programs,” the company said.
“Transportation assistance has been provided to local and public service organisations in and around the EKCP site and we have also assisted local communities with infrastructure maintenance where requested.
“The East Kutai population continues to strongly support our endeavours to maintain our licences despite the fact that employment numbers in both our land acquisition teams and base camp have been significantly reduced as a result of the actions of the regional government.”
Churchill reported a US$6.4 million loss for the period, which increased from US$3 million last year.
Expenses were increased at US$5.1 million due to a higher spend on public relations, government and media outreach costs, legal, professional and consulting expenses.
Within that, legal and professional fees totalled US$1.5 million, which reflects the significant costs incurred as a result of the Administrative Tribunal, subsequent appeal to the Supreme Court of Indonesia and the on-going dispute with Ridlatama, Churchill said.
As of December 31 2011, Churchill had US$22.4 million in cash and it said it presently has US$14.3 million in the bank.
]]>