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CHL - Churchill Mining News Story

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Last Trade - 05/12/16

Sector
Energy
Size
Micro Cap
Market Cap £n/a
Enterprise Value £n/a
Revenue £n/a
Position in Universe th / 1824

Churchill Mining plc - Arbitration update

Fri 14th August, 2015 7:00am
RNS Number : 0689W
Churchill Mining plc
14 August 2015

14 August 2015

AIM: CHL

CHURCHILL MINING PLC

("Churchill" or "the Company")

ICSID Arbitration Update - Completion of Hearing in Singapore

The Directors of Churchill (AIM: CHL) wish to provide an update on the international arbitration cases the Company and its wholly owned subsidiary Planet Mining Pty Ltd ("Planet") are pursuing against the Republic of Indonesia ("Indonesia") through Washington DC based International Centre for Settlement of Investment Disputes ("ICSID"). The arbitration before the ICSID Tribunal ("Tribunal") arises from the unlawful revocation of the mining licenses relating to the East Kutai Coal Project in East Kalimantan ("EKCP"), Indonesia, in which Churchill and Planet held a 75% interest.

Pursuant to ICSID Procedural Order 15, Indonesia's Application for Dismissal of the arbitration case on the grounds of document authenticity ("Indonesia's dismissal application") was heard in Singapore between 3 and 10 August 2015. Churchill and Planet were represented by the international law firm Clifford Chance LLP with members of the Churchill board and management also in attendance at the hearing.

The conduct of the hearing included fact witnesses, oral presentations and expert witnesses. All of the witnesses for Churchill/Planet whom Indonesia requested for cross-examination attended the hearing. All of the witnesses for Indonesia whom Churchill/Planet requested for cross-examination attended the hearing, except Isran Noor (Mr Noor until his recent resignation held the office of Bupati or Regent of East Kutai). Mr Noor declined to attend the proceedings.

In view of his non-attendance, the Tribunal ordered that Mr Noor's witness statement be struck out and disregarded.

Churchill's Chairman David Quinlivan said "We are pleased that the hearing of Indonesia's dismissal application has now been completed save for the presentation of post-hearing briefs by both sides. Overall, the hearing was a useful exercise but it is disappointing that Mr Noor, one of Indonesia's key witnesses, chose not to attend the hearing, as we had a number of questions we wished to put to him. We look forward to having this aspect of the case decided so we can move ahead with having our merits claims determined."

The specific questions to be addressed by the parties in post-hearing briefs will be set out in a procedural order to be issued by the Tribunal shortly. There is no fixed date for the Tribunal to deliver its decision on Indonesia's dismissal application, although the decision is unlikely to be handed down for some months.

Information on the progress of Churchill/Planet's claim against the Republic of Indonesia can be found at the website of the International Centre for Settlement of Investment Disputes at https://icsid.worldbank.org/apps/ICSIDWEB/Pages/default.aspx (under cases for "Churchill").

END

For further information, please contact:

Churchill Mining plc

David Quinlivan

Nicholas Smith

Russell Hardwick

+ 61 8 6382 3737

Northland Capital

Partners Limited

Edward Hutton/William Vandyk

+44(0)20 7382 1100


This information is provided by RNS
The company news service from the London Stock Exchange
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