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Thursday, 07 October 10
MIRACH ENERGY GAINS RIGHTS TO EAST KALIMANTAN COAL MINE - THE EDGE SINGAPORE
 The Edge Singapore reported that, Mirach Energy says it has gained the rights to produce and sell coal in an open-pit coal mine in Samarinda, the capital of the Indonesian province of East Kalimantan.
The contract area covers 100 hectares and is located near to operational haulage road, stockyard and conveyor loading jetty. The mine produces sub-bituminous coal of caloric value 5100- 5300 Kcal/kg. This type of coal, also known as steam coal, is generally used for power generation.
A drilling exploration program conducted during due diligence process estimated proven reserves of 1.1 million tonnes of coal, with potentially much higher reserves to be explored. Based on the terms of an agreement signed with the mine owner, PT GTM, and a subsidiary of the company, the company has the rights to extract and sell a minimum of 5 million tonnes of coal within a period of four years.
Production has commenced and initial production volume is estimated at 30,000 tonnes of coal per month, with a production target of 70,000 tonnes by the end of the year. Stripping ratio averages 3.62 for the initial production phase. The first barge shipment of coal is expected in October 2010 and end buyers will come from China, Philippines or India.
Mirach Energy selected and embarked on a small mine area for its first venture into the coal production business to ensure that the business model and the risks profile of the project sits well with the company’s current structure and scale. This first coal venture will form a platform for Mirach Energy to develop its coal segment to strengthen and build up a healthy cash flow for the Company, while developing its other oil and gas assets. It is currently negotiating for other larger coal mines with the intention to acquire the rights to increase its coal mining operations.
Source:The Edge Singapore
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Friday, 15 October 10
VALUE ADDED TAX FOR COAL TO RE-INTRODUCE IN INDONESIA
COALspot.com: Indonesian government is drafting a ministerial decree to re-introduce value added tax for coal and mineral. Coalindo weekly news lett ...
Thursday, 14 October 10
COAL PRICES AT QINHUANGDAO PORT UP - CAPITALVUE
Capitalvue reported that, prices of steam coal yielding 5,500 kilocalories per kilogram (kcal/kg) in Qinhuangdao Port have risen five yuan to 715-72 ...
Thursday, 14 October 10
DRY BULK MARKET MAINTAINS POSITIVE TREND ON FIRMER CHINESE IRON ORE DEMAND
The dry bulk market has kept its upward trend set since last week, with the industry’s main benchmark, the Baltic Dry Index (BDI) rising to 2, ...
Tuesday, 12 October 10
DRY BULK MARKET LOOKING FOR DIRECTION AFTER WEEK OF CAPESIZE GROWTH
The dry bulk market ended Monday unchanged from Friday’s closing, today standing at 2,695 points. In summary, the capesize and the supramax se ...
Tuesday, 12 October 10
COAL SPOT TRADING MAY SOOTH PRICING CONFLICTS - GLOBAL TIMES
Global Times reported that, Tianjin-based Bohai Commodity Exchange launched steam coal for spot trading for the first time Monday. Steam coal is mai ...
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- Trasteel International SA, Italy
- Pipit Mutiara Jaya. PT, Indonesia
- Georgia Ports Authority, United States
- Australian Commodity Traders Exchange
- Simpson Spence & Young - Indonesia
- European Bulk Services B.V. - Netherlands
- MS Steel International - UAE
- Sical Logistics Limited - India
- Kobexindo Tractors - Indoneisa
- International Coal Ventures Pvt Ltd - India
- Energy Link Ltd, New Zealand
- Kalimantan Lumbung Energi - Indonesia
- Cement Manufacturers Association - India
- Ceylon Electricity Board - Sri Lanka
- Straits Asia Resources Limited - Singapore
- Chamber of Mines of South Africa
- Star Paper Mills Limited - India
- Global Green Power PLC Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Kartika Selabumi Mining - Indonesia
- Mjunction Services Limited - India
- Leighton Contractors Pty Ltd - Australia
- Aditya Birla Group - India
- Eastern Coal Council - USA
- Standard Chartered Bank - UAE
- ICICI Bank Limited - India
- Energy Development Corp, Philippines
- Bukit Baiduri Energy - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Directorate Of Revenue Intelligence - India
- ASAPP Information Group - India
- Africa Commodities Group - South Africa
- SMC Global Power, Philippines
- Singapore Mercantile Exchange
- Price Waterhouse Coopers - Russia
- Sinarmas Energy and Mining - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- India Bulls Power Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Neyveli Lignite Corporation Ltd, - India
- Merrill Lynch Commodities Europe
- Gujarat Electricity Regulatory Commission - India
- Metalloyd Limited - United Kingdom
- Oldendorff Carriers - Singapore
- Essar Steel Hazira Ltd - India
- Toyota Tsusho Corporation, Japan
- Orica Australia Pty. Ltd.
- Mercuria Energy - Indonesia
- Kideco Jaya Agung - Indonesia
- Eastern Energy - Thailand
- Directorate General of MIneral and Coal - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Pendopo Energi Batubara - Indonesia
- Minerals Council of Australia
- Port Waratah Coal Services - Australia
- Commonwealth Bank - Australia
- GVK Power & Infra Limited - India
- Banpu Public Company Limited - Thailand
- Indogreen Group - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Bukit Makmur.PT - Indonesia
- Global Business Power Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Mercator Lines Limited - India
- Krishnapatnam Port Company Ltd. - India
- Aboitiz Power Corporation - Philippines
- Kaltim Prima Coal - Indonesia
- Larsen & Toubro Limited - India
- CIMB Investment Bank - Malaysia
- CNBM International Corporation - China
- Coastal Gujarat Power Limited - India
- Jaiprakash Power Ventures ltd
- Anglo American - United Kingdom
- Indika Energy - Indonesia
- Ambuja Cements Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Agrawal Coal Company - India
- Kapuas Tunggal Persada - Indonesia
- Indo Tambangraya Megah - Indonesia
- PNOC Exploration Corporation - Philippines
- South Luzon Thermal Energy Corporation
- Makarim & Taira - Indonesia
- Central Electricity Authority - India
- Meralco Power Generation, Philippines
- Formosa Plastics Group - Taiwan
- IEA Clean Coal Centre - UK
- Sree Jayajothi Cements Limited - India
- Global Coal Blending Company Limited - Australia
- Thiess Contractors Indonesia
- Kepco SPC Power Corporation, Philippines
- Siam City Cement PLC, Thailand
- Uttam Galva Steels Limited - India
- Rio Tinto Coal - Australia
- Medco Energi Mining Internasional
- Tamil Nadu electricity Board
- Mintek Dendrill Indonesia
- Madhucon Powers Ltd - India
- Salva Resources Pvt Ltd - India
- Vizag Seaport Private Limited - India
- Parliament of New Zealand
- Deloitte Consulting - India
- Coalindo Energy - Indonesia
- The State Trading Corporation of India Ltd
- Interocean Group of Companies - India
- Barasentosa Lestari - Indonesia
- Sakthi Sugars Limited - India
- Binh Thuan Hamico - Vietnam
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Xindia Steels Limited - India
- SN Aboitiz Power Inc, Philippines
- Carbofer General Trading SA - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Marubeni Corporation - India
- Meenaskhi Energy Private Limited - India
- Bhushan Steel Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bhatia International Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Tata Chemicals Ltd - India
- Parry Sugars Refinery, India
- Bayan Resources Tbk. - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Therma Luzon, Inc, Philippines
- Dalmia Cement Bharat India
- AsiaOL BioFuels Corp., Philippines
- VISA Power Limited - India
- Indonesian Coal Mining Association
- Electricity Generating Authority of Thailand
- Antam Resourcindo - Indonesia
- Grasim Industreis Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Latin American Coal - Colombia
- Bhoruka Overseas - Indonesia
- Timah Investasi Mineral - Indoneisa
- Heidelberg Cement - Germany
- Wood Mackenzie - Singapore
- Indian Oil Corporation Limited
- Chettinad Cement Corporation Ltd - India
- Jindal Steel & Power Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Cigading International Bulk Terminal - Indonesia
- Bharathi Cement Corporation - India
- Coal and Oil Company - UAE
- Malabar Cements Ltd - India
- Orica Mining Services - Indonesia
- Indian Energy Exchange, India
- Ind-Barath Power Infra Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Independent Power Producers Association of India
- McConnell Dowell - Australia
- Siam City Cement - Thailand
- Petrochimia International Co. Ltd.- Taiwan
- Planning Commission, India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Maheswari Brothers Coal Limited - India
- San Jose City I Power Corp, Philippines
- White Energy Company Limited
- The Treasury - Australian Government
- Iligan Light & Power Inc, Philippines
- IHS Mccloskey Coal Group - USA
- Bangladesh Power Developement Board
- Australian Coal Association
- OPG Power Generation Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- Thai Mozambique Logistica
- Wilmar Investment Holdings
- Goldman Sachs - Singapore
- Posco Energy - South Korea
- The University of Queensland
- Renaissance Capital - South Africa
- Bukit Asam (Persero) Tbk - Indonesia
- Economic Council, Georgia
- Videocon Industries ltd - India
- GMR Energy Limited - India
- Edison Trading Spa - Italy
- Billiton Holdings Pty Ltd - Australia
- Semirara Mining Corp, Philippines
- Vedanta Resources Plc - India
- Sojitz Corporation - Japan
- LBH Netherlands Bv - Netherlands
- Altura Mining Limited, Indonesia
- Electricity Authority, New Zealand
- Karaikal Port Pvt Ltd - India
- Central Java Power - Indonesia
- Globalindo Alam Lestari - Indonesia
- Savvy Resources Ltd - HongKong
- GAC Shipping (India) Pvt Ltd
- Romanian Commodities Exchange
- Ministry of Mines - Canada
- Sindya Power Generating Company Private Ltd
- New Zealand Coal & Carbon
- Borneo Indobara - Indonesia
- Gujarat Sidhee Cement - India
- GN Power Mariveles Coal Plant, Philippines
- Ministry of Finance - Indonesia
- Manunggal Multi Energi - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Jorong Barutama Greston.PT - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Lanco Infratech Ltd - India
- Intertek Mineral Services - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Baramulti Group, Indonesia
- Petron Corporation, Philippines
- Attock Cement Pakistan Limited
- Sarangani Energy Corporation, Philippines
- PTC India Limited - India
- TeaM Sual Corporation - Philippines
- Ministry of Transport, Egypt
- Riau Bara Harum - Indonesia
- SMG Consultants - Indonesia
- Power Finance Corporation Ltd., India
- PowerSource Philippines DevCo
- Kumho Petrochemical, South Korea
- London Commodity Brokers - England
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