London-listed Churchill Mining Plc is threatening Indonesia to seek international arbitration, saying that the company was unlawfully deprived of a US$1.8 billion coal discovery in the jungles of Borneo Island. The East Kutai project is a huge resource with a JORC compliant estimate of 2.7 billion tonnes of coal, acquired by Churchill in 2007 through an acquisition of a 75% stake in Indonesian group Ridlatama.
CHURCHILL MINING PLC Mining News
30 Million Tonnes per Annum East Kutai Coal Project Feasibility Study Returns Pre-Tax NPV of US$1.8 Billion
Churchill Mining PLC and its Indonesian partners the Ridlatama Group, have completed a feasibility study on the 2.73 billion tonne (“bt”) East Kutai Coal Project in Indonesia. Read more