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Monday, 21 February 11
CHURCHILL MINING RECEIVES SIGNIFICANT INTEREST, PROPOSALS TO DEVELOP EAST KUTAI COAL PROJECT - PROACTIVE INVESTORS
 Proactive Investors reported that, Churchill Mining has received a number of specific proposals to fund and develop its massive East Kutai coal project in Indonesia and that the interest in East Kutai is significant.
Some of these would allow Churchill to take full control of the project.
Initial proposals have ranged from an emphasis on direct entry into the project at the local Indonesian company level through to procuring a large stake in the company.
Certain potential investment partners have also proposed that the mining and infrastructure elements of the EKCP should be separated to be dealt with and funded on a separate basis.
In addition to that, a number of investors have expressed interest in either buying out the 25% of the project held by Churchill’s Indonesian partners or providing funding to Churchill to complete this action itself and bring the project under the company's sole control.
In all cases, prospective partners have been required to address their ability to fund the capital required to develop the project.
Churchill is currently examining three specific proposals from Indonesia, India and the Middle East, in which the acquisition of Ridlatama's 25% holding in the EKCP is an integral component.
The due diligence process being conducted by various potential investor partners is at different stages of completion.
Last month, Churchill confirmed that it was “discussing a variety of options to take the project forward” in response to media reports that it was in talks with several Indian power companies to sell the Indonesian coal project.
Northland Capital, Churchill’s nominated advisor (NOMAD) on the AIM market, confirmed that Churchill plans to sell and it is negotiating with Indian companies.
In September last year, the company and Ridlatama initiated an administrative review to further protect the legal standing of the four mining licenses which constitute East Kutai.
The review will address ongoing irregular actions and misrepresentations by third parties in Indonesia in respect to the mining licences for the East Kutai coal project.
Churchill reported that last Thursday, the regional administrative tribunal indicated that the results of this process in respect of the licenses held by the EKCP will be announced by mid-March 2011.
East Kutai is a world-class thermal coal deposit. It has a 961 million tonne JORC mining reserve and 2.73 billion tonnes of JORC resources. The sheer scale of the project is reflected by the US$1.2 billion (direct capital costs) needed to build the mine.
Once operational the proposed open pit would produce 30 million tonnes of high grade thermal coal each year, for an initial 25-year life. It would generate cashflow of US$500 million each year.
Churchill hired corporate heavyweight Credit Suisse back in April 2010 to complete a strategic review and help it evaluate the various options for East Kutai’s project financing.
Source: Proactive Investors (by Sergei Balashov)
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Wednesday, 06 April 11
FORBES & MANHATTAN COAL ANNOUNCES SIGNIFICANT OFF TAKE AGREEMENT
Steady Cash Flow Will Fund Production Ramp Up
Forbes & Manhattan Coal Corp., ("Forbes Coal" or the "Company") is a produc ...
Tuesday, 05 April 11
DRY BULK MARKET DOWN ON FIRST DAY OF SECOND QUARTER - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market began the second quarter on a downward pattern, with the industry’s benchmark, the Baltic Dry Index (BDI) shedding 1.45 pe ...
Monday, 04 April 11
INDONESIA INTERNATIONAL CONFERENCE FOCUS ON INDONESIA'S ECONOMY (IICFIE) 2011 MASTER PLAN TO ACCELERATE THE ECONOMIC DEVELOPMENT
Press Release - Since couple of years, Indonesia's economy show impressive growth. What is the Indonesia's Economic Corridor and the Master plan t ...
Saturday, 02 April 11
TNPL CALLS FOR 160KT OF NON-COKING COAL
COALspot.com - Tamil Nadu Newsprint and Papers Limited (TNPL), is seeking to procure another 160,000 MT +/- 5 percent of Non-Coking imported C ...
Saturday, 02 April 11
THE FREIGHT MARKETS LIKELY TO BE SOFT NEXT WEEK - VISTAAR SINGAPORE
COALspot.com - The freight market softened this week affecting all sectors with BDI down by 65 points (down by 4.10 pct) and closed at 1,520 points. ...
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- OPG Power Generation Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- London Commodity Brokers - England
- Posco Energy - South Korea
- Directorate Of Revenue Intelligence - India
- Heidelberg Cement - Germany
- Metalloyd Limited - United Kingdom
- Bulk Trading Sa - Switzerland
- Mjunction Services Limited - India
- Renaissance Capital - South Africa
- Barasentosa Lestari - Indonesia
- Electricity Generating Authority of Thailand
- Interocean Group of Companies - India
- Tamil Nadu electricity Board
- Vedanta Resources Plc - India
- LBH Netherlands Bv - Netherlands
- Madhucon Powers Ltd - India
- Agrawal Coal Company - India
- Edison Trading Spa - Italy
- Jorong Barutama Greston.PT - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Makarim & Taira - Indonesia
- GAC Shipping (India) Pvt Ltd
- Bhushan Steel Limited - India
- Rashtriya Ispat Nigam Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Baramulti Group, Indonesia
- SMG Consultants - Indonesia
- Intertek Mineral Services - Indonesia
- Samtan Co., Ltd - South Korea
- Attock Cement Pakistan Limited
- Anglo American - United Kingdom
- Gujarat Sidhee Cement - India
- San Jose City I Power Corp, Philippines
- Trasteel International SA, Italy
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- Antam Resourcindo - Indonesia
- PowerSource Philippines DevCo
- Independent Power Producers Association of India
- VISA Power Limited - India
- Formosa Plastics Group - Taiwan
- CIMB Investment Bank - Malaysia
- The University of Queensland
- Sakthi Sugars Limited - India
- India Bulls Power Limited - India
- Indian Oil Corporation Limited
- Mercuria Energy - Indonesia
- Sree Jayajothi Cements Limited - India
- White Energy Company Limited
- PNOC Exploration Corporation - Philippines
- Uttam Galva Steels Limited - India
- Coalindo Energy - Indonesia
- Grasim Industreis Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Jaiprakash Power Ventures ltd
- Vijayanagar Sugar Pvt Ltd - India
- Orica Australia Pty. Ltd.
- Minerals Council of Australia
- Power Finance Corporation Ltd., India
- Energy Development Corp, Philippines
- Karaikal Port Pvt Ltd - India
- Kideco Jaya Agung - Indonesia
- Energy Link Ltd, New Zealand
- Kumho Petrochemical, South Korea
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- Latin American Coal - Colombia
- TNB Fuel Sdn Bhd - Malaysia
- Savvy Resources Ltd - HongKong
- Central Electricity Authority - India
- SN Aboitiz Power Inc, Philippines
- Star Paper Mills Limited - India
- Siam City Cement - Thailand
- ASAPP Information Group - India
- Alfred C Toepfer International GmbH - Germany
- Australian Coal Association
- GVK Power & Infra Limited - India
- Bhatia International Limited - India
- Bukit Makmur.PT - Indonesia
- Eastern Energy - Thailand
- Gujarat Mineral Development Corp Ltd - India
- Global Business Power Corporation, Philippines
- Ministry of Finance - Indonesia
- Thiess Contractors Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Chamber of Mines of South Africa
- MS Steel International - UAE
- McConnell Dowell - Australia
- ICICI Bank Limited - India
- Ind-Barath Power Infra Limited - India
- GMR Energy Limited - India
- Economic Council, Georgia
- Bhoruka Overseas - Indonesia
- Wilmar Investment Holdings
- Parry Sugars Refinery, India
- Aboitiz Power Corporation - Philippines
- Pendopo Energi Batubara - Indonesia
- Meenaskhi Energy Private Limited - India
- Merrill Lynch Commodities Europe
- Mercator Lines Limited - India
- Semirara Mining and Power Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- Neyveli Lignite Corporation Ltd, - India
- Kohat Cement Company Ltd. - Pakistan
- Timah Investasi Mineral - Indoneisa
- Sical Logistics Limited - India
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- Pipit Mutiara Jaya. PT, Indonesia
- Xindia Steels Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Simpson Spence & Young - Indonesia
- Ministry of Transport, Egypt
- SMC Global Power, Philippines
- Global Green Power PLC Corporation, Philippines
- PTC India Limited - India
- Mintek Dendrill Indonesia
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- Toyota Tsusho Corporation, Japan
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Georgia Ports Authority, United States
- Africa Commodities Group - South Africa
- CNBM International Corporation - China
- Straits Asia Resources Limited - Singapore
- Goldman Sachs - Singapore
- Romanian Commodities Exchange
- Indo Tambangraya Megah - Indonesia
- Oldendorff Carriers - Singapore
- Cigading International Bulk Terminal - Indonesia
- Essar Steel Hazira Ltd - India
- Malabar Cements Ltd - India
- Chettinad Cement Corporation Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Maheswari Brothers Coal Limited - India
- Australian Commodity Traders Exchange
- Binh Thuan Hamico - Vietnam
- IHS Mccloskey Coal Group - USA
- Ministry of Mines - Canada
- Maharashtra Electricity Regulatory Commission - India
- Meralco Power Generation, Philippines
- Cement Manufacturers Association - India
- Ceylon Electricity Board - Sri Lanka
- Bayan Resources Tbk. - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Semirara Mining Corp, Philippines
- Standard Chartered Bank - UAE
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Videocon Industries ltd - India
- Thai Mozambique Logistica
- International Coal Ventures Pvt Ltd - India
- Indika Energy - Indonesia
- Indogreen Group - Indonesia
- Bangladesh Power Developement Board
- Larsen & Toubro Limited - India
- Ambuja Cements Ltd - India
- Planning Commission, India
- Jindal Steel & Power Ltd - India
- Carbofer General Trading SA - India
- Kaltim Prima Coal - Indonesia
- Parliament of New Zealand
- Medco Energi Mining Internasional
- Kartika Selabumi Mining - Indonesia
- Borneo Indobara - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Bharathi Cement Corporation - India
- Gujarat Electricity Regulatory Commission - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Vizag Seaport Private Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Kepco SPC Power Corporation, Philippines
- Petron Corporation, Philippines
- Wood Mackenzie - Singapore
- Miang Besar Coal Terminal - Indonesia
- Marubeni Corporation - India
- Lanco Infratech Ltd - India
- The State Trading Corporation of India Ltd
- Coal and Oil Company - UAE
- Singapore Mercantile Exchange
- South Luzon Thermal Energy Corporation
- Riau Bara Harum - Indonesia
- Globalindo Alam Lestari - Indonesia
- The Treasury - Australian Government
- Therma Luzon, Inc, Philippines
- Price Waterhouse Coopers - Russia
- Salva Resources Pvt Ltd - India
- Orica Mining Services - Indonesia
- Banpu Public Company Limited - Thailand
- IEA Clean Coal Centre - UK
- European Bulk Services B.V. - Netherlands
- TeaM Sual Corporation - Philippines
- Deloitte Consulting - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Manunggal Multi Energi - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Port Waratah Coal Services - Australia
- Eastern Coal Council - USA
- Aditya Birla Group - India
- Indonesian Coal Mining Association
- New Zealand Coal & Carbon
- Krishnapatnam Port Company Ltd. - India
- Iligan Light & Power Inc, Philippines
- Central Java Power - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Electricity Authority, New Zealand
- Sarangani Energy Corporation, Philippines
- Coastal Gujarat Power Limited - India
- Sindya Power Generating Company Private Ltd
- Tata Chemicals Ltd - India
- Siam City Cement PLC, Thailand
- Commonwealth Bank - Australia
- Rio Tinto Coal - Australia
- Dalmia Cement Bharat India
- Indian Energy Exchange, India
- Billiton Holdings Pty Ltd - Australia
- Altura Mining Limited, Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sojitz Corporation - Japan
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