West Cumbria Mining Ltd’s plans for a new deep coal mine again face uncertainty after the new Labour Government said that the initial 2022 approval was an “error of law”. NET ZERO The Government’s words, said yesterday to the BBC, follows the Supreme Court’s ruling that oil production at Horse Hill in Surrey must include […]
Tag: legal
Ascent Slovenia partner’s insolvency approved
Ascent Resources plc said that the high court has given final approval of its Slovenia joint venture partner Geoenergo d.o.o.’s insolvency. TENDER The company has stated it is owed approximately €8,000,000 of revenues which Geoenergo has already received. Ascent said it was still working to register Ascent Slovenia Ltd (ASL)’s claim in the insolvency proceedings […]
Contract disputes halt Kouroussa gold mining
Contractual disputes at Kouroussa gold mine in Guinea have halted operations, affecting production and cash flow. IMPACT Owner Hummingbird Resources plc’s principal contract miner Corica Mining Services temporarily suspended mining operations as of 17 March 2024. The company said that the suspension was “a clear breach of the mining contract” and has given Corica notice […]
Capricorn in line for $9.5m dividend from Vedanta
Capricorn Energy said that a payment order had been issued regarding Vedanta Ltd’s $9.5 million dividend owed to Capricorn UK Holdings Ltd. The Securities and Exchange Board of India issued the order dated 12 March 2024. Vedanta, which must pay the money within 45 days of the order’s date, may challenge the order before the […]
Galantas cancels shares-warrants for marketing firms
Galantas Gold Corporation has cancelled shares and warrants issued to two marketing companies instead of payment in cash on order of the TSX Venture Exchange. CHIEF EXECUTIVE In March 2023 the company engaged Grit Capital Corp for 26 weeks to conduct advertising campaigns for a fee of US$65,000 plus HST*. Galantas paid Grit an initial […]
Ascent faces U-turn ruling on partner’s insolvency
Ascent Resources plc faces an “unprecendented situation” after its Slovenia joint venture partner Geoenergo d.o.o. received approval to enter insolvency. REDRESS Ascent previously sought legal advice to stop the move and said that the court had not accepted Geoenergo’s creditor position and not approved the self-declared insolvency application. A hearing had been due on 23 […]