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Thursday, 23 September 10
CHURCHILL MINING SHARES JUMP ON EAST KUTAI COAL PROJECT FEASIBILITY RESULTS - STOCKOPEDIA
 AIM listed mining group Churchill Mining (LON:CHL) and its Indonesian partners the Ridlatama Group, have completed a feasibility study on the 2.73bn tonne East Kutai Coal Project in Indonesia. The two sides said the study had confirmed the technical and economic feasibility of the project and demonstrated that it is a world-class thermal coal deposit. The news was enough to send Churchill’s shares up by 14.5% to 141.5p during the morning.
The project’s investment evaluation, modelled over an initial 25-year period, indicates a pre-tax net present value of US$1.8bn (discount rate of 10%), an internal rate of return of 21% and a payback period of seven years. The study now forms the platform for the next stage in the development of the project and the ongoing strategic process.
Located in East Kalimantan, Indonesia, approximately 160km from the coast, the East Kutai project is ideally positioned as a strategic asset for independent power producers across Asia, particularly in India and China, as these countries expand their generating capacity and need to secure long-term supplies of thermal coal. The project has a 2.73bt JORC resource, of which 961mt has been classified as proven and probable reserves. Churchill has a 75% interest in the project with the Ridlatama Group owning the outstanding 25%.
Paul Mazak, Churchill’s managing director, said: “The completion of the East Kutai Coal Project feasibility study is a significant milestone for Churchill. With the study indicating the project has a pre-tax net present value of US$1.8bn, an internal rate of return of 21% and payback period of seven years, this confirms the project's technical and economic viability. The study demonstrates that the East Kutai Coal Project is a world-class thermal coal deposit which is ideally positioned to supply the growing energy demand from both the Chinese and Indian markets. With the study now completed, we look forward to moving swiftly into the next stage in the ongoing strategic process and bringing this large scale project into development.”
Source: stockopedia
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Saturday, 25 September 10
INDONESIA HAS EXPORTED 187.656 MILLION TONNES OF COAL IN EIGHT MONTHS
COALspot.com: Indonesia, the world largest coal exporter has exported 187.656 million tons of coal for the period January – August this ...
Saturday, 25 September 10
PRESSURE ON S6 AND S7 ROUTES SEEMS TO BE CONTINUED NEXT WEEK CAPT. REDDY
COALspot.com: The freight market has been flat this week due to holidays in China and low activity saw all sectors down and soft.
The BDI was dow ...
Thursday, 23 September 10
DRY BULK RATES EXPECTEDLY FALL TO ONE MONTH LOWS - HELLENIC SHIPPING
With of the Far East trade routes closed this week on various national holidays, demand for ocean transportation of raw materials has been significa ...
Wednesday, 22 September 10
INDIA TO BE BIGGEST BUYER OF INDONESIAN COAL BY 2011 - BUSINESS STANDARD
India will pass Japan to be the biggest buyer of Indonesian coal by 2011, said Bob Kamandanu, chairman of the Indonesian Coal Mining Association.
...
Wednesday, 22 September 10
DRY BULK MARKET SENTIMENT TURNS SOUTH AS IRON ORE DEMAND DECLINES
The dry bulk market has once again turned the tide, with the industry’s benchmark, the Baltic Dry Index (BDI) turning south during the previou ...
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- Singapore Mercantile Exchange
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- Australian Coal Association
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- Australian Commodity Traders Exchange
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- Uttam Galva Steels Limited - India
- Standard Chartered Bank - UAE
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- SMC Global Power, Philippines
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- Renaissance Capital - South Africa
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- The Treasury - Australian Government
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- PowerSource Philippines DevCo
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- Energy Development Corp, Philippines
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- International Coal Ventures Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Alfred C Toepfer International GmbH - Germany
- ASAPP Information Group - India
- The University of Queensland
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- GMR Energy Limited - India
- Semirara Mining and Power Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
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- Parry Sugars Refinery, India
- Therma Luzon, Inc, Philippines
- Energy Link Ltd, New Zealand
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- Ministry of Finance - Indonesia
- McConnell Dowell - Australia
- Bharathi Cement Corporation - India
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- Edison Trading Spa - Italy
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- Bulk Trading Sa - Switzerland
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- Economic Council, Georgia
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- Global Coal Blending Company Limited - Australia
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- GVK Power & Infra Limited - India
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- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Mercuria Energy - Indonesia
- Coal and Oil Company - UAE
- Indogreen Group - Indonesia
- ICICI Bank Limited - India
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- Siam City Cement - Thailand
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- PetroVietnam Power Coal Import and Supply Company
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- Kapuas Tunggal Persada - Indonesia
- Cement Manufacturers Association - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
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