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Tuesday, 20 July 10
CHURCHILL PLANNING TO PRODUCE 35 MILLION TONNES PER ANNUM FROM ITS EAST KUTAI COAL PROJECT
 According to Churchill's website, the East Kutai Coal Project is a world-class thermal coal deposit, with a JORC Mining Reserve of 961 million tonnes and a JORC Mining Resource of 2.730 billion tonnes.
In accordance with the new Indonesian Mining Law, Churchill has completed the initial stage of its Indonesian restructuring and has converted its 75% beneficial interest in the Ridlatama Tambang license area into a direct equity interest.
The Ridlatama Tambang license area is the larger of the two IUP licenses that make up the East Kutai Coal Project, with a resource of 2.545 billion tonnes, or 93.2% of the 2.730 billion tonne resource of the East Kutai Coal Project. Churchill has also converted to a 75% direct ownership in PT Ridlatama Trade Powerindo, which holds a prospective 5,386 hectare license area adjacent to the Ridlatama Tambang license area, on which no drilling has been done to date.
Churchill Mining Plc and its Indonesian partners the Ridlatama Group intend to increase the project coal production rate by up to 10mtpa to 35mtpa. Coal production from the Northern Pit would increase from 20mtpa to 25-30mtpa and production from the Southern Pit would remain at 5mtpa.
Churchill’s feasibility and development work has identified that planned mine facilities at the Northern Pit have the capacity to support a mining production rate of 40-45mtpa. In this context, Churchill has executed project optimization studies which show that the overland conveyor, which will transport the coal from the Northern Pit, has an enhanced capacity of 25-30mtpa, an increase of 5-10mtpa.
In addition to the Northern Pit production, and further to the MOU signed with PT. Perusahaan Listrik Negara (PLN), the Indonesian state electricity firm, in April 2010, Churchill continues to work on plans for the purchase of 5mtpa of coal from the Southern Pit, which would fulfill Churchill’s Indonesian Domestic Market Obligation (“DMO”). PLN is now reviewing the potential to utilize its coal drying and enhancement technology on the project’s coal, which, in testing, upgraded the coal from subbituminous to bituminous, considerably increasing its value.
Churchill also continues to work closely with its strategic adviser, Credit Suisse, in reviewing development options for the project. The optimized feasibility study will form the platform for Credit Suisse’s work as it evaluates Churchill’s options for the project. Churchill’s CEO, Paul Mazak, commented: “We are delighted with the results of the optimization work performed thus far on this world-class thermal coal project. Our plans to increase production and coal sales by 50% are now being incorporated into the feasibility study and economics. We believe that the significant increase in the production profile will generate considerable additional economic value and further increase the attractiveness of the project for power project developers in Asia.”
Source: Churchill Mining
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Thursday, 08 July 10
DRY BULK MARKET STILL PLUNGING, NOW STANDING AT 14 MONTH LOWS
The dry bulk shipping market’s demise isn’t over yet, as the industry’s main benchmark, the Baltic Dry Index (BDI) has been on a f ...
Wednesday, 07 July 10
MACQUARIE SEES CHINA COMMODITIES PRICE FALLS AND CUTBACKS AHEAD - MINEWEB
MineWeb reported that, The research arm of Australia's Macquarie Bank - one of the most reliable of China watchers - in its latest briefing on Chin ...
Wednesday, 07 July 10
COAL PRICES ON THE RISE
Caixin online reported that, China's domestic coal prices have seen a 26.2 percent year-on-year rise in May. Meanwhile, the volume of coal im ...
Tuesday, 06 July 10
INCREASE IN DRY BULK SPOT FIXTURES UNABLE TO BOOST RATES, LOSING STREAK CONTINUES
Yet another week began on a negative note for the dry bulk shipping market, with the Baltic Dry Index posting its 28th straight losing daily session ...
Tuesday, 06 July 10
KEPCO, POSCO BUY AUSTRALIAN COAL MINES - CHOSUN
Chosun reported that, Electricity monopoly KEPCO and steelmaker POSCO have both bought coal mines in Australia.
KEPCO signed a 400 million Austra ...
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- McConnell Dowell - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Semirara Mining and Power Corporation, Philippines
- Parliament of New Zealand
- Carbofer General Trading SA - India
- Central Electricity Authority - India
- Sical Logistics Limited - India
- SMG Consultants - Indonesia
- Singapore Mercantile Exchange
- Directorate General of MIneral and Coal - Indonesia
- Altura Mining Limited, Indonesia
- Videocon Industries ltd - India
- Planning Commission, India
- Oldendorff Carriers - Singapore
- Mintek Dendrill Indonesia
- Aditya Birla Group - India
- Directorate Of Revenue Intelligence - India
- Siam City Cement PLC, Thailand
- Heidelberg Cement - Germany
- Intertek Mineral Services - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Antam Resourcindo - Indonesia
- GAC Shipping (India) Pvt Ltd
- Coalindo Energy - Indonesia
- Renaissance Capital - South Africa
- Wood Mackenzie - Singapore
- Marubeni Corporation - India
- Kapuas Tunggal Persada - Indonesia
- Anglo American - United Kingdom
- Xindia Steels Limited - India
- Indian Oil Corporation Limited
- Jindal Steel & Power Ltd - India
- European Bulk Services B.V. - Netherlands
- Bukit Asam (Persero) Tbk - Indonesia
- Sakthi Sugars Limited - India
- Indogreen Group - Indonesia
- Vedanta Resources Plc - India
- PTC India Limited - India
- Aboitiz Power Corporation - Philippines
- Toyota Tsusho Corporation, Japan
- Jaiprakash Power Ventures ltd
- Cement Manufacturers Association - India
- Siam City Cement - Thailand
- Banpu Public Company Limited - Thailand
- Ceylon Electricity Board - Sri Lanka
- Indian Energy Exchange, India
- Bukit Makmur.PT - Indonesia
- Dalmia Cement Bharat India
- Minerals Council of Australia
- Ambuja Cements Ltd - India
- Independent Power Producers Association of India
- Meralco Power Generation, Philippines
- ASAPP Information Group - India
- Therma Luzon, Inc, Philippines
- CIMB Investment Bank - Malaysia
- SMC Global Power, Philippines
- IEA Clean Coal Centre - UK
- TeaM Sual Corporation - Philippines
- GN Power Mariveles Coal Plant, Philippines
- Georgia Ports Authority, United States
- Wilmar Investment Holdings
- South Luzon Thermal Energy Corporation
- Borneo Indobara - Indonesia
- Straits Asia Resources Limited - Singapore
- Kaltim Prima Coal - Indonesia
- GVK Power & Infra Limited - India
- India Bulls Power Limited - India
- Chamber of Mines of South Africa
- Eastern Energy - Thailand
- SN Aboitiz Power Inc, Philippines
- Central Java Power - Indonesia
- Sojitz Corporation - Japan
- Interocean Group of Companies - India
- Leighton Contractors Pty Ltd - Australia
- Star Paper Mills Limited - India
- Edison Trading Spa - Italy
- Indo Tambangraya Megah - Indonesia
- Trasteel International SA, Italy
- Meenaskhi Energy Private Limited - India
- Lanco Infratech Ltd - India
- Formosa Plastics Group - Taiwan
- Bahari Cakrawala Sebuku - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- LBH Netherlands Bv - Netherlands
- Coastal Gujarat Power Limited - India
- Mercuria Energy - Indonesia
- Posco Energy - South Korea
- Holcim Trading Pte Ltd - Singapore
- Kohat Cement Company Ltd. - Pakistan
- Petrochimia International Co. Ltd.- Taiwan
- Goldman Sachs - Singapore
- Billiton Holdings Pty Ltd - Australia
- Mercator Lines Limited - India
- Attock Cement Pakistan Limited
- Indonesian Coal Mining Association
- Electricity Authority, New Zealand
- Chettinad Cement Corporation Ltd - India
- Africa Commodities Group - South Africa
- GMR Energy Limited - India
- Electricity Generating Authority of Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- Standard Chartered Bank - UAE
- PowerSource Philippines DevCo
- The Treasury - Australian Government
- Larsen & Toubro Limited - India
- Kepco SPC Power Corporation, Philippines
- Bhoruka Overseas - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Deloitte Consulting - India
- Makarim & Taira - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Thai Mozambique Logistica
- Global Business Power Corporation, Philippines
- Australian Commodity Traders Exchange
- Thiess Contractors Indonesia
- Binh Thuan Hamico - Vietnam
- Energy Development Corp, Philippines
- Samtan Co., Ltd - South Korea
- Medco Energi Mining Internasional
- Parry Sugars Refinery, India
- San Jose City I Power Corp, Philippines
- Kumho Petrochemical, South Korea
- Gujarat Mineral Development Corp Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Savvy Resources Ltd - HongKong
- Bulk Trading Sa - Switzerland
- IHS Mccloskey Coal Group - USA
- Sindya Power Generating Company Private Ltd
- London Commodity Brokers - England
- Orica Mining Services - Indonesia
- Bhatia International Limited - India
- Uttam Galva Steels Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Orica Australia Pty. Ltd.
- Power Finance Corporation Ltd., India
- Commonwealth Bank - Australia
- Global Coal Blending Company Limited - Australia
- Bukit Baiduri Energy - Indonesia
- Merrill Lynch Commodities Europe
- Rashtriya Ispat Nigam Limited - India
- Iligan Light & Power Inc, Philippines
- Price Waterhouse Coopers - Russia
- Simpson Spence & Young - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Baramulti Group, Indonesia
- Latin American Coal - Colombia
- MS Steel International - UAE
- The State Trading Corporation of India Ltd
- Timah Investasi Mineral - Indoneisa
- Port Waratah Coal Services - Australia
- Indika Energy - Indonesia
- Essar Steel Hazira Ltd - India
- Ministry of Transport, Egypt
- Krishnapatnam Port Company Ltd. - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sree Jayajothi Cements Limited - India
- Bangladesh Power Developement Board
- Pendopo Energi Batubara - Indonesia
- Manunggal Multi Energi - Indonesia
- Rio Tinto Coal - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Eastern Coal Council - USA
- Kalimantan Lumbung Energi - Indonesia
- International Coal Ventures Pvt Ltd - India
- Energy Link Ltd, New Zealand
- Coal and Oil Company - UAE
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- OPG Power Generation Pvt Ltd - India
- Bhushan Steel Limited - India
- Mjunction Services Limited - India
- CNBM International Corporation - China
- The University of Queensland
- Semirara Mining Corp, Philippines
- AsiaOL BioFuels Corp., Philippines
- Global Green Power PLC Corporation, Philippines
- VISA Power Limited - India
- Bharathi Cement Corporation - India
- Ind-Barath Power Infra Limited - India
- White Energy Company Limited
- Riau Bara Harum - Indonesia
- Kobexindo Tractors - Indoneisa
- Bank of Tokyo Mitsubishi UFJ Ltd
- Alfred C Toepfer International GmbH - Germany
- Australian Coal Association
- Ministry of Mines - Canada
- Vizag Seaport Private Limited - India
- Tamil Nadu electricity Board
- Petron Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- ICICI Bank Limited - India
- Madhucon Powers Ltd - India
- Karaikal Port Pvt Ltd - India
- Economic Council, Georgia
- Ministry of Finance - Indonesia
- Tata Chemicals Ltd - India
- PNOC Exploration Corporation - Philippines
- Karbindo Abesyapradhi - Indoneisa
- Salva Resources Pvt Ltd - India
- Agrawal Coal Company - India
- Kartika Selabumi Mining - Indonesia
- Metalloyd Limited - United Kingdom
- Barasentosa Lestari - Indonesia
- Sarangani Energy Corporation, Philippines
- Gujarat Sidhee Cement - India
- Globalindo Alam Lestari - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Grasim Industreis Ltd - India
- New Zealand Coal & Carbon
- Sinarmas Energy and Mining - Indonesia
- Kideco Jaya Agung - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Malabar Cements Ltd - India
- Bayan Resources Tbk. - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Romanian Commodities Exchange
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