Ores & Minerals Arbitration Award Against Anh Son Thuy - a company nominated by Hoa Phat Group Singapore
LONDON, and SINGAPORE, May 23, 2024 /PRNewswire/ -- Bulk commodity trader, Ores & Minerals, announces a victory in arbitration against Anh Son Thuy, a company nominated by industrial group Hoa Phat, Singapore.
Hoa Phat's nominated entity, Anh Son Thuy must pay Ores & Minerals $1,473,802.48 in arbitration, as ruled by The Singapore International Arbitration Centre on 2nd May 2023, due to violations in deadfreight, demurrage, and detention.
The dispute stems from a contractual agreement between Ores & Minerals and Anh Son Thuy for the transportation of a cargo consisting of 50,000 metric tons of iron ore pellet chips and fines.
Despite explicit contractual terms and industry-standard practices, Hoa Phat Singapore's nominated Anh Son Thuy's actions led to substantial deadfreight costs and associated damages, causing non-performance and breach of contract.
As a company committed to integrity, transparency, and fair business practices, Ores & Minerals underscores the importance of upholding contractual obligations and fostering trust within the global business community.
Ores & Minerals extends its appreciation to the tribunal for its diligent review of the case.
Final Arbitration Award Registered in SIAC Registry of Awards as: Award No. 062 of 2023 For media inquiries or further information, please contact Ores Minerals UK on +44 2037 519 391
Ores & Minerals Corporation is an International Commodity Trading Group acting as trader and merchant, primarily in metals and minerals, obtained through direct relationships with mine owners, aggregators, refiners, processors and fabricators around the world.
TSX VENTURE COMPANIES
BULLETIN V2024-1813
BULLETIN TYPE: OtherBULLETIN DATE: June 14, 2024Tier 1 and Tier 2 Companies
Mandatory Trading and Settlement Rules for Securities Trading in US Dollars
Further to the TSX Staff Notice #2024-0005 dated May 27,...
HIGHLIGHTSKnown Tarcoola gold mineralisation tied into consistent structural frameworkMultiple new previously untested structures mapped across key target zoneAerial footage of August 2023 seismic program in action can be viewed hereBarton Gold...
HIGHLIGHTSReal time DTCC trading and settlement of Barton's OTCQB shares now availableEnables BGDFF to be traded by a wide range of full service US and online brokersStrong platform for increased BGD engagement with North American investorsBarton...
Barton Gold Holdings Limited (Barton or the Company) is pleased to provide an update regarding its ongoing assessment of the Central Gawler Mill for potential future Stage 1 operations. In December 2022 Barton completed a preliminary preservation...
HIGHLIGHTSExclusive R&D partnership developing and trialling Discriminant Predictive Targeting (DPT) for gold and copper mineralisation over 60,000km2 of the central Gawler CratonPhase 1 analysis identified multiple new gold and copper targets on...