Last checked at 21 Jan 2011 14:02
21st January 2011 CHL: AIM
CHURCHILL MINING PLC
("Churchill" or "the Company")
Statement Re Share Price Movement
Churchill Mining PLC (AIM: CHL) notes the movement in share price alongside the media speculation relating to possible plans by the Indonesian Government to announce potential restrictions on the export of certain grades of coal.
Churchill and its Indonesian Advisory Board is in active discussions with the appropriate Indonesian authorities to clarify any such policies and will update the market when appropriate .
As previously announced, Churchill is working closely with the PLN, the Indonesian State Power Provider, and expects that all its obligations to supply the domestic market will be met via this relationship.
From discussion with the relevant authorities, Churchill believes that any export restrictions will not apply to all producers and expects that further details may clarify that any export restrictions may not apply to Churchill because of the coal supply arrangement in place with the PLN.
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For further information, please contact:
Churchill Mining Plc Northland Capital Tavistock Communications
Managing Director - Paul G. Mazak Partners Limited Paul Youens / Jos Simson
+62 81510539186 / Shane Gallwey +44 (0) 20 7920 3150
39832398 +44 (0) 20 7492 4750 +44 (0) 7843 260 623
+61 8 6382 3737 pyouens@tavistock.co.uk
paul.mazak@churchillmining.com