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Tuesday, 30 April 13
KATINGAN RIA THERMAL COAL TO START PRODUCTION FROM EARLY 2014
 COALspot.com - Realm Resources Ltd. (ASX: RRP) has announced the completion of the Feasibility Study for its 51% owned Katingan Ria thermal coal project (the “Project”) in Central Kalimantan, Indonesia.
According to the company’s report to ASX Limited, the study, independently reviewed by Xenith Consulting Pty. Limited (“Xenith”), supports the development of a 2.5 million tons per annum (Mtpa) (Base case) to 3.0Mtpa (Upside case) open cut mine with a life of mine of around fifteen years. The study was based on coal being hauled 40km - 45km to a stockpiling and barge loading facility on the Katingan River, then barged 435 km to the river mouth for transhipment into ships for delivery to market. The coal is expected to be predominately sold as a low ash and low sulphur coal ideally suited for modern Indian and Chinese power generation.
The Katingan Ria coal project is located near the town of Tumbang Samba in Central Kalimantan, Indonesia. The Project mining concession covers an area of some 4,258 ha within an area that has already been subject to commercial forestry operations (IUP Exploitation No. IUP OP No. 545/222/KPTS/VIII/2011). The Project aims to be a 2.5Mtpa – 3.0Mtpa open cut mine. Coal is transported from the pit by 60 t road trucks approximately 40km - 45 km to a stockpiling and barge loading facility on the Katingan River. Barges will then transport coal 435 km to the river mouth for transhipment into coal ships for delivery to market.
Coal will be sold “unwashed”, meaning there is no metallurgical treatment required to achieve a saleable product. The coal is expected to be predominately sold as a low ash and low sulphur coal ideally suited for modern Indian and Chinese power generation, the company’s announcement said.
HIGHLIGHTS
- Near horizontal, multi-seam coal deposit with JORC resources of 89Mt, including JORC reserves of 29Mt assuming a long term coal price of USD52/ton for the expected Katingan Ria coal quality;
- Indicative product specifications are consistent with Indonesian 4,200kcal/kg (GAR) low sulphur (0.2%) coal which is readily accepted in rapidly growing markets in India, China, Korea and Thailand;
- Low project start-up capital estimate of USD24M (including 30% contingency and USD6M working capital), implying a capital intensity of less than USD10/annual ton, thereby minimising investment risk;
- Life of mine (LOM) FOB cash costs of ~USD41/t (Base case) to ~USD39/t (Upside case) excluding royalties with the first five years averaging ~USD38/t due to lower strip ratios and haulage distances;
- NPV (100%) of USD78M (Base case) to USD111M (Upside case) at a 10% discount rate is most sensitive to coal price and operating costs and least sensitive to capital expenditure;
- Permitting is well advanced, supporting forecast production and ramp up from early 2014.
Commenting on the study, Chairman Richard Rossiter said, “We are pleased to achieve another key milestone as we progress Katingan Ria towards production in 2014. Together with our partners, we are now focused on advancing the final stages of permitting, and project financing and development”.
The Project is not capital intensive, with a total of USD18.5M required to establish a 2.5Mtpa to 3.0Mtpa contractor driven operation. An additional USD6M is required for working capital. Base case FOB cash costs are forecast to be USD37.62/t in the first five years with an average USD41.23/t over the life of mine (excluding royalties). Including royalties, FOB cash cost forecasts are USD 39.37/t and USD 42.68/t respectively. The average life of mine FOB cash cost in the Upside case is around USD2/t lower due to economies of scale. Permitting is in the final stages, and production is forecast as early as H1 2014, the company said in its report.
The Project is well advanced and has a high level of support from the local community and government. The balance of 49% of PTKR is held by professional Indonesian partners.
According to company, the company has identified following strengths for the project:
- The deposit (89.9Mt JORC resource, 29Mt JORC reserve) is structurally simple with a low strip-ratio, therefore leading to lower mining costs.
- The coal (4,200 GAR Kcal/kg raw coal basis) is relatively homogenous, low in sulphur (0.2%) and most likely to be marketed to the rapidly growing demand centres in India, China, Korea and Thailand.
- Low start-up capital.
- The Project requires no rail or port infrastructure to be developed and therefore could be bought into production relatively quickly.
- The key technical risks for the Project are:
- FOB cost factors associated with river seasonality and the transport distance to the coast.
- Margins received from the sale of the coal are very sensitive to coal price assumptions and potential increases in operating costs.
About Realm
Realm’s strategy is to create shareholder value through exploration and development of bulk commodity projects, primarily in coal. In addition, the Company has platinum group metals, advanced exploration projects and an aluminium dross treatment plant in South Africa.
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Saturday, 25 March 23
COAL INDIA HAS STRONG CASE TO INCREASE PRICES, TALKS ON: CMD AGRAWAL - BUSINESS STANDARD
Coal India (CIL) Chairman and Managing Director Pramod Agrawal said on Monday there is a “strong case” for increasing coal prices, and ...
Saturday, 25 March 23
ASIAN CRUDE PALM OIL WATCH 1Q23 - FITCH RATINGS
Malaysian benchmark crude palm oil (CPO) spot prices have averaged around USD915 per tonne (t) so far in 1Q23, sharply lower than the average of ar ...
Saturday, 25 March 23
INDONESIA’S COAL EXPORT INCREASED BY 21.0% YOY TO 388.4 MLN T IN 2022 - BANCHERO COSTA
After a slow start in the first quarter, global coal trade has really picked up pace last year, and is now fully back to pre-Covid levels. In the f ...
Saturday, 25 March 23
GLOBAL LNG-ASIA SPOT PRICES SLIP AS WEAK NORTHERN DEMAND REMAINS - REUTERS
Asian spot prices of liquefied natural gas (LNG) declined this week, falling to a 21-month low, as weak demand in the northeast Asia region continu ...
Wednesday, 22 March 23
OIL PRICE FALL SPECULATIVE, TO HIT $140 BY YEAR-END -ANDURAND: REUTERS
The recent fall in oil prices due to banking jitters is speculative and oil will hit $140 a barrel by the end of the year, hedge fund manager Pierr ...
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- Mercuria Energy - Indonesia
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- Minerals Council of Australia
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- Bangladesh Power Developement Board
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- Pipit Mutiara Jaya. PT, Indonesia
- PowerSource Philippines DevCo
- Ind-Barath Power Infra Limited - India
- Goldman Sachs - Singapore
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- Formosa Plastics Group - Taiwan
- Australian Coal Association
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- Jorong Barutama Greston.PT - Indonesia
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- Posco Energy - South Korea
- SMG Consultants - Indonesia
- Eastern Coal Council - USA
- Ministry of Transport, Egypt
- Global Business Power Corporation, Philippines
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- Makarim & Taira - Indonesia
- Coastal Gujarat Power Limited - India
- Larsen & Toubro Limited - India
- Toyota Tsusho Corporation, Japan
- Bhushan Steel Limited - India
- Indian Energy Exchange, India
- TNB Fuel Sdn Bhd - Malaysia
- Asmin Koalindo Tuhup - Indonesia
- SN Aboitiz Power Inc, Philippines
- Sindya Power Generating Company Private Ltd
- Energy Development Corp, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sojitz Corporation - Japan
- Parry Sugars Refinery, India
- Therma Luzon, Inc, Philippines
- Samtan Co., Ltd - South Korea
- Central Java Power - Indonesia
- The Treasury - Australian Government
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- Indian Oil Corporation Limited
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- Renaissance Capital - South Africa
- Vizag Seaport Private Limited - India
- Semirara Mining and Power Corporation, Philippines
- Savvy Resources Ltd - HongKong
- New Zealand Coal & Carbon
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- Coalindo Energy - Indonesia
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- Altura Mining Limited, Indonesia
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- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Tata Chemicals Ltd - India
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- Rio Tinto Coal - Australia
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- Planning Commission, India
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- SMC Global Power, Philippines
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- Cement Manufacturers Association - India
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- GN Power Mariveles Coal Plant, Philippines
- International Coal Ventures Pvt Ltd - India
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- Agrawal Coal Company - India
- Banpu Public Company Limited - Thailand
- ASAPP Information Group - India
- MS Steel International - UAE
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- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- Mintek Dendrill Indonesia
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- Madhucon Powers Ltd - India
- Aboitiz Power Corporation - Philippines
- Jindal Steel & Power Ltd - India
- Vedanta Resources Plc - India
- London Commodity Brokers - England
- GAC Shipping (India) Pvt Ltd
- Sical Logistics Limited - India
- Sarangani Energy Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- Energy Link Ltd, New Zealand
- CIMB Investment Bank - Malaysia
- Leighton Contractors Pty Ltd - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Meralco Power Generation, Philippines
- Australian Commodity Traders Exchange
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- Coal and Oil Company - UAE
- Indonesian Coal Mining Association
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- Videocon Industries ltd - India
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- Malabar Cements Ltd - India
- GVK Power & Infra Limited - India
- Independent Power Producers Association of India
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