29th Nov 2016 09:51
LONDON (Alliance News) - Churchill Mining PLC on Tuesday said it has not yet received any decision or award regarding its legal claim against the Indonesian government.
Churchill Mining earlier this month had said it expected a decision from the tribunal by the end of the month, but on Tuesday said it has been given no notice of when an award or decision will be issued.
Churchill Mining has written to the International Centre for Settlement of Investment Disputes to request an update, it said.
Churchill and the Indonesian government are in a legal battle over the decision to revoke Churchill's licences covering its sole asset, the East Kutai coal project.
Churchill in the past has said it considers the measures taken by the Indonesian government as "unlawful" and said it has pursued its claim against the country in an attempt to secure USD1.31 billion, plus interest, in damages.
Shares in Churchill were up 3.7% at 34.10 pence on Tuesday.
By Hannah Boland; [email protected]; @Hannaheboland
Copyright 2016 Alliance News Limited. All Rights Reserved.
Related Shares:
Cloudified Holdings Limited