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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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Tuesday, 14 September 10
MID HIGH TEENS FROM WCI, AND HIGH TEENS FROM ECI TO CHINA - BRS
A fairly flat market for the dry bulk segments this week, although the Panamaxes jumped on the back of strong grain exports in the Atlantic. It ...
Tuesday, 14 September 10
HIGH CHARTERING ACTIVITY NEEDS TO KEEP UP FOR DRY BULK RATES TO REMAIN HIGH
Last week’s increase of spot chartering activity pushed dry bulk freight rates to new highs, after a less than lackluster summer. As a result, ...
Monday, 13 September 10
GLENCORE BUYS STAKE IN MINER BUMI
The Jakarta globe reported that, Switzerland-based Glencore International, the world’s largest commodities trader, has quietly acquired a $200 ...
Monday, 13 September 10
IT'S JAI INDONESIA FOR OUR POWER FIRMS
Indian power producers have been compelled to look abroad for fuel to run upcoming facilities, as domestic generation is unlikely to be able to meet ...
Monday, 13 September 10
CIL IN TALKS WITH SHIPPING CORP TO FORM JV FOR COAL IMPORTS
Shipping Corporation of India, the largest domestic shipping liner, may form a joint venture with Coal India for coal imports, a top company officia ...
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- Latin American Coal - Colombia
- Vijayanagar Sugar Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- Binh Thuan Hamico - Vietnam
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Goldman Sachs - Singapore
- Coalindo Energy - Indonesia
- SN Aboitiz Power Inc, Philippines
- Commonwealth Bank - Australia
- Semirara Mining Corp, Philippines
- Gujarat Electricity Regulatory Commission - India
- Mercuria Energy - Indonesia
- Meralco Power Generation, Philippines
- Australian Commodity Traders Exchange
- GN Power Mariveles Coal Plant, Philippines
- Wilmar Investment Holdings
- Savvy Resources Ltd - HongKong
- Jorong Barutama Greston.PT - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Energy Link Ltd, New Zealand
- Globalindo Alam Lestari - Indonesia
- Simpson Spence & Young - Indonesia
- Sindya Power Generating Company Private Ltd
- Bahari Cakrawala Sebuku - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Sinarmas Energy and Mining - Indonesia
- Singapore Mercantile Exchange
- Cigading International Bulk Terminal - Indonesia
- Tamil Nadu electricity Board
- Bharathi Cement Corporation - India
- Chamber of Mines of South Africa
- Indian Energy Exchange, India
- McConnell Dowell - Australia
- PNOC Exploration Corporation - Philippines
- Coal and Oil Company - UAE
- Electricity Authority, New Zealand
- Formosa Plastics Group - Taiwan
- Xindia Steels Limited - India
- Sarangani Energy Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- Dalmia Cement Bharat India
- Energy Development Corp, Philippines
- Romanian Commodities Exchange
- Power Finance Corporation Ltd., India
- GMR Energy Limited - India
- Siam City Cement PLC, Thailand
- Makarim & Taira - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- MS Steel International - UAE
- CNBM International Corporation - China
- Central Electricity Authority - India
- Economic Council, Georgia
- Pendopo Energi Batubara - Indonesia
- Rio Tinto Coal - Australia
- Samtan Co., Ltd - South Korea
- Ministry of Mines - Canada
- Tata Chemicals Ltd - India
- CIMB Investment Bank - Malaysia
- Indo Tambangraya Megah - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Bayan Resources Tbk. - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Deloitte Consulting - India
- Ministry of Transport, Egypt
- Sojitz Corporation - Japan
- Aditya Birla Group - India
- Kaltim Prima Coal - Indonesia
- Parliament of New Zealand
- VISA Power Limited - India
- Videocon Industries ltd - India
- Standard Chartered Bank - UAE
- Central Java Power - Indonesia
- Global Coal Blending Company Limited - Australia
- Kepco SPC Power Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- Banpu Public Company Limited - Thailand
- Malabar Cements Ltd - India
- Larsen & Toubro Limited - India
- Billiton Holdings Pty Ltd - Australia
- Indogreen Group - Indonesia
- Global Business Power Corporation, Philippines
- London Commodity Brokers - England
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Thiess Contractors Indonesia
- Attock Cement Pakistan Limited
- Petron Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Pipit Mutiara Jaya. PT, Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Planning Commission, India
- Salva Resources Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Orica Mining Services - Indonesia
- Merrill Lynch Commodities Europe
- Mjunction Services Limited - India
- Indika Energy - Indonesia
- Bhushan Steel Limited - India
- Port Waratah Coal Services - Australia
- Bangladesh Power Developement Board
- Holcim Trading Pte Ltd - Singapore
- Indonesian Coal Mining Association
- Barasentosa Lestari - Indonesia
- PowerSource Philippines DevCo
- Gujarat Mineral Development Corp Ltd - India
- Antam Resourcindo - Indonesia
- Timah Investasi Mineral - Indoneisa
- Metalloyd Limited - United Kingdom
- India Bulls Power Limited - India
- Interocean Group of Companies - India
- Uttam Galva Steels Limited - India
- Thai Mozambique Logistica
- Africa Commodities Group - South Africa
- Madhucon Powers Ltd - India
- Indian Oil Corporation Limited
- Cement Manufacturers Association - India
- SMC Global Power, Philippines
- Lanco Infratech Ltd - India
- ICICI Bank Limited - India
- Maheswari Brothers Coal Limited - India
- Intertek Mineral Services - Indonesia
- GVK Power & Infra Limited - India
- Vizag Seaport Private Limited - India
- Bukit Baiduri Energy - Indonesia
- Sical Logistics Limited - India
- Mercator Lines Limited - India
- International Coal Ventures Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- IHS Mccloskey Coal Group - USA
- Edison Trading Spa - Italy
- Kartika Selabumi Mining - Indonesia
- Alfred C Toepfer International GmbH - Germany
- PTC India Limited - India
- The Treasury - Australian Government
- Trasteel International SA, Italy
- Asmin Koalindo Tuhup - Indonesia
- Riau Bara Harum - Indonesia
- Bhatia International Limited - India
- Medco Energi Mining Internasional
- Karaikal Port Pvt Ltd - India
- Mintek Dendrill Indonesia
- Kumho Petrochemical, South Korea
- Baramulti Group, Indonesia
- Semirara Mining and Power Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- Wood Mackenzie - Singapore
- Sree Jayajothi Cements Limited - India
- Directorate Of Revenue Intelligence - India
- Carbofer General Trading SA - India
- Global Green Power PLC Corporation, Philippines
- The University of Queensland
- Orica Australia Pty. Ltd.
- Bulk Trading Sa - Switzerland
- IEA Clean Coal Centre - UK
- Petrochimia International Co. Ltd.- Taiwan
- Agrawal Coal Company - India
- GAC Shipping (India) Pvt Ltd
- SMG Consultants - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Gujarat Sidhee Cement - India
- Kobexindo Tractors - Indoneisa
- Toyota Tsusho Corporation, Japan
- Vedanta Resources Plc - India
- Leighton Contractors Pty Ltd - Australia
- New Zealand Coal & Carbon
- Kohat Cement Company Ltd. - Pakistan
- Kideco Jaya Agung - Indonesia
- Price Waterhouse Coopers - Russia
- Star Paper Mills Limited - India
- Anglo American - United Kingdom
- Independent Power Producers Association of India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Manunggal Multi Energi - Indonesia
- Jindal Steel & Power Ltd - India
- Borneo Indobara - Indonesia
- San Jose City I Power Corp, Philippines
- The State Trading Corporation of India Ltd
- Minerals Council of Australia
- Eastern Energy - Thailand
- Maharashtra Electricity Regulatory Commission - India
- Ministry of Finance - Indonesia
- Sakthi Sugars Limited - India
- Eastern Coal Council - USA
- Heidelberg Cement - Germany
- Ind-Barath Power Infra Limited - India
- Jaiprakash Power Ventures ltd
- Oldendorff Carriers - Singapore
- Bhoruka Overseas - Indonesia
- Therma Luzon, Inc, Philippines
- Australian Coal Association
- Posco Energy - South Korea
- Grasim Industreis Ltd - India
- Georgia Ports Authority, United States
- TeaM Sual Corporation - Philippines
- ASAPP Information Group - India
- Essar Steel Hazira Ltd - India
- Ceylon Electricity Board - Sri Lanka
- South Luzon Thermal Energy Corporation
- Electricity Generating Authority of Thailand
- Neyveli Lignite Corporation Ltd, - India
- Krishnapatnam Port Company Ltd. - India
- Bukit Makmur.PT - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- European Bulk Services B.V. - Netherlands
- Siam City Cement - Thailand
- Marubeni Corporation - India
- Coastal Gujarat Power Limited - India
- Altura Mining Limited, Indonesia
- White Energy Company Limited
- Directorate General of MIneral and Coal - Indonesia
- Parry Sugars Refinery, India
- Ambuja Cements Ltd - India
- Iligan Light & Power Inc, Philippines
- Renaissance Capital - South Africa
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