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Saturday, 22 January 11
POSSIBLE COAL EXPORT RESTRICTIONS ON INDONESIA UNLIKELY TO AFFECT CHURCHILL MINING - PROACTIVE INVESTORS
 Proactive Investors reported that, Churchill Mining moved to reassure investors after a fall in its share price, stating that from talks with the authorities in Indonesia, it believes that any potential coal export restrictions may not affect it because of its supply arrangements with Indonesia’s state power provider PLN.
The statement was in response to today’s 8 percent decline in Churchill’s share price, apparently triggered by press speculation about the government’s possible plans to introduce export restrictions on certain grades of coal.
On Thursday, reports surfaced that Indonesia is preparing to place a ban on the export of low quality coal with an energy value of below 5,600 kilocalories per kilogram. The government wants producers to upgrade the coal to a higher energy value product in an effort to increase the country’s export revenue.
“From discussion with the relevant authorities, Churchill believes that any export restrictions will not apply to all producers and expects that further details may clarify that any export restrictions may not apply to Churchill because of the coal supply arrangement in place with the PLN,” said Churchill.
Churchill has created an Indonesian advisory board, which is participating in the ongoing discussions, that “guarantees access to all levels of industry and government” and it has negotiated an off-take deal with the state electricity company.
The company pledged to update the market “when appropriate”.
Churchill also reiterated that it is working with Indonesian state power provider PLN, expecting to meet all of its obligations to supply the domestic market via this relationship.
Back in December, Churchill acquired the land to be used as the site of the future port facility for the shipment of coal from the East Kutai project in Indonesia.Churchill has hired Credit Suisse to find a “big brother with deep pockets” to fund the development of the mine, which has a net present value of US$1.8 billion.
However, Churchill is keeping all of its options open and is still looking at possibly running East Kutai as a stand-alone project funded by equity and debt.
In September the company passed a major milestone when the eagerly awaited feasibility study confirmed East Kutai as a world class deposit with a JORC resource of 2.73 billion tonnes.
Source: Proactive Investors
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Saturday, 15 January 11
MAKE SACRIFICES TO SAVE PLN, INDONESIA GOVT BEGS MINERS - THE JAKARTA GLOBE
The Jakarta Globe reported that, Darwin Zahedi Saleh, Indonesia's minister of energy and mineral resources, on Friday appealed to local coal compan ...
Saturday, 15 January 11
RISING PRICES, GOVERNMENT DECREE LEAVE PLN AT LOGGERHEADS WITH COAL FIRMS - THE JAKARTA GLOBE
The Jakarta Globe reported that, As coal prices continue to increase, state utility Perusahaan Listrik Negara faces problems in securing enough coal ...
Thursday, 13 January 11
SURGING COAL PRICES UNDERMINE PLN'S EFFICIENCY PROGRAM - THE JAKARTA POST
The Jakarta Post reported that, The soaring global coal prices are undermining state electricity company PT PLN's pledge to improve its operational ...
Thursday, 13 January 11
SPML INFRA TO DOUBLE INDONESIA COAL MINE OUTPUT IN TWO YEARS - DNA INDIA
DNA India reported that, Kolkata-based infrastructure company SPML Infra, formerly Subhash Projects & Marketing Ltd, will in two years nearly do ...
Thursday, 13 January 11
DRY BULK RATES HIT NEW MULTI-MONTH LOWS ON AUSTRALIAS FLOODS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Floods in Australia’s Queensland has seriously disrupted coal shipments and together with a flood of vessels has pushed freight rates for dry ...
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Showing 5426 to 5430 news of total 6871 |
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- Kideco Jaya Agung - Indonesia
- Globalindo Alam Lestari - Indonesia
- Orica Australia Pty. Ltd.
- Simpson Spence & Young - Indonesia
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- Leighton Contractors Pty Ltd - Australia
- Deloitte Consulting - India
- European Bulk Services B.V. - Netherlands
- Edison Trading Spa - Italy
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- Indian Energy Exchange, India
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- Africa Commodities Group - South Africa
- Grasim Industreis Ltd - India
- Videocon Industries ltd - India
- Price Waterhouse Coopers - Russia
- The Treasury - Australian Government
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- Energy Development Corp, Philippines
- Siam City Cement PLC, Thailand
- Essar Steel Hazira Ltd - India
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- VISA Power Limited - India
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- Georgia Ports Authority, United States
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- Bayan Resources Tbk. - Indonesia
- Sarangani Energy Corporation, Philippines
- Minerals Council of Australia
- Ministry of Mines - Canada
- Trasteel International SA, Italy
- Sindya Power Generating Company Private Ltd
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- Petrochimia International Co. Ltd.- Taiwan
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- CNBM International Corporation - China
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- Chamber of Mines of South Africa
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- Tata Chemicals Ltd - India
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- Ceylon Electricity Board - Sri Lanka
- Jaiprakash Power Ventures ltd
- Goldman Sachs - Singapore
- Larsen & Toubro Limited - India
- Coal and Oil Company - UAE
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- Australian Coal Association
- Holcim Trading Pte Ltd - Singapore
- IEA Clean Coal Centre - UK
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- Riau Bara Harum - Indonesia
- PNOC Exploration Corporation - Philippines
- Eastern Coal Council - USA
- Rashtriya Ispat Nigam Limited - India
- The State Trading Corporation of India Ltd
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- PetroVietnam Power Coal Import and Supply Company
- Bahari Cakrawala Sebuku - Indonesia
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- Maharashtra Electricity Regulatory Commission - India
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- The University of Queensland
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- Indian Oil Corporation Limited
- Global Business Power Corporation, Philippines
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- Semirara Mining and Power Corporation, Philippines
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- TNB Fuel Sdn Bhd - Malaysia
- Heidelberg Cement - Germany
- Bukit Baiduri Energy - Indonesia
- Sical Logistics Limited - India
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- Karaikal Port Pvt Ltd - India
- Interocean Group of Companies - India
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- Global Coal Blending Company Limited - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Medco Energi Mining Internasional
- Ind-Barath Power Infra Limited - India
- Australian Commodity Traders Exchange
- Oldendorff Carriers - Singapore
- Directorate General of MIneral and Coal - Indonesia
- Wood Mackenzie - Singapore
- Commonwealth Bank - Australia
- LBH Netherlands Bv - Netherlands
- Indonesian Coal Mining Association
- Bukit Makmur.PT - Indonesia
- Electricity Generating Authority of Thailand
- Aditya Birla Group - India
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- GN Power Mariveles Coal Plant, Philippines
- Madhucon Powers Ltd - India
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- Vedanta Resources Plc - India
- Barasentosa Lestari - Indonesia
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- Coastal Gujarat Power Limited - India
- Cigading International Bulk Terminal - Indonesia
- Coalindo Energy - Indonesia
- London Commodity Brokers - England
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sojitz Corporation - Japan
- Ministry of Transport, Egypt
- Bank of Tokyo Mitsubishi UFJ Ltd
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- Metalloyd Limited - United Kingdom
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- Indogreen Group - Indonesia
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- Mintek Dendrill Indonesia
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