Churchill Mining says court decision on Indonesian claim due early 2014

27th Dec 2013 13:20

The share price of Churchill Mining jumped by over a fifth on Friday after the firm said that a tribunal decision on claims for damages in Indonesia should be expected in early 2014.The coal miner had filed a claim in May 2012 against the Republic of Indonesia (ROI) for breaches of Indonesia's obligations under the Bilateral Investment Treaty between the UK and ROI when licences on a coal site were revoked."The tribunal anticipates issuing its decision or awards on ROI's challenge to jurisdiction in late January or early February 2014," the firm said.The stock was up 21.89% at 21.33p by 12:28 on Friday.BC