A London-listed mining company whose coal mining licences were revoked after its Indonesian business partner had forged the documents has had its compensation claim for U.S.$1.3bn against the Indonesian government thrown out by an international tribunal.
The World Bank-affiliated International Centre for Settlement of Investment Disputes (ICSID) ruled in December that London-listed Churchill Mining’s entire investment in East Kalimantan in Indonesia was tainted by fraud and was not protected by international investment treaties.
