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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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Friday, 01 April 11
SUPRAS EX RICHARDS BAY COAL TERMINAL TO INDIA HOVERING AT $ 25 - 27.00 PMT - FEARNBULK
Handy
Atlantic markets remain stable with more activity from the Black Sea to FEast paying in the mid 20´s on Supras. The USG remains firm p ...
Friday, 01 April 11
DRY BULK MARKET WEAKENS ON SLOWER DEMAND, HOPES FOR MID-TERM REBOUND ON JAPANS RECONSTRUCTION - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market, as reflected in the Baltic Dry Index (BDI) retreated for a third day yesterday, after staying flat on Monday, to end at 1,530 p ...
Wednesday, 30 March 11
CHALLENGER SIGNS OPTION AGREEMENTS TO PURCHASE FOUR COAL PROJECTS IN INDONESIA
Challenger Signs Three Exclusive Option Agreements to Purchase Four Coal Projects in East Kalimantan, Indonesia
Challenger Deep Resources Corp.ha ...
Wednesday, 30 March 11
KPCL TO IMPORT ONE MILLION TONS OF 6300 GAD COAL
COALspot.com - Karnataka Power Corporation a state utility of Karnataka, India called for open tender for supply of one million tons of 6300 Kcal/kg ...
Wednesday, 30 March 11
WIKA GRABS PROJECT FROM ADARO INDONESIA - INSIDER STORIES
One of Indonesia's largest thermal coal PT Adaro Indonesia has finally mandated PT Wijaya Karya Tbk (WIKA) as a contractor to install and manage ov ...
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- Borneo Indobara - Indonesia
- Electricity Authority, New Zealand
- Global Green Power PLC Corporation, Philippines
- San Jose City I Power Corp, Philippines
- The Treasury - Australian Government
- Siam City Cement PLC, Thailand
- Carbofer General Trading SA - India
- Sakthi Sugars Limited - India
- Formosa Plastics Group - Taiwan
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bahari Cakrawala Sebuku - Indonesia
- Holcim Trading Pte Ltd - Singapore
- European Bulk Services B.V. - Netherlands
- Riau Bara Harum - Indonesia
- Goldman Sachs - Singapore
- Iligan Light & Power Inc, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Petrochimia International Co. Ltd.- Taiwan
- Eastern Energy - Thailand
- Agrawal Coal Company - India
- PowerSource Philippines DevCo
- Bukit Asam (Persero) Tbk - Indonesia
- Intertek Mineral Services - Indonesia
- Global Business Power Corporation, Philippines
- Barasentosa Lestari - Indonesia
- Ministry of Finance - Indonesia
- Dalmia Cement Bharat India
- Kapuas Tunggal Persada - Indonesia
- IHS Mccloskey Coal Group - USA
- Grasim Industreis Ltd - India
- Parliament of New Zealand
- GAC Shipping (India) Pvt Ltd
- Star Paper Mills Limited - India
- Essar Steel Hazira Ltd - India
- Timah Investasi Mineral - Indoneisa
- Ambuja Cements Ltd - India
- Heidelberg Cement - Germany
- Madhucon Powers Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Samtan Co., Ltd - South Korea
- Mintek Dendrill Indonesia
- Indonesian Coal Mining Association
- Indian Energy Exchange, India
- Mjunction Services Limited - India
- Orica Mining Services - Indonesia
- Chettinad Cement Corporation Ltd - India
- Global Coal Blending Company Limited - Australia
- Kumho Petrochemical, South Korea
- Renaissance Capital - South Africa
- Pendopo Energi Batubara - Indonesia
- Mercuria Energy - Indonesia
- Commonwealth Bank - Australia
- Coastal Gujarat Power Limited - India
- Bhoruka Overseas - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Asmin Koalindo Tuhup - Indonesia
- Mercator Lines Limited - India
- Maharashtra Electricity Regulatory Commission - India
- MS Steel International - UAE
- Energy Development Corp, Philippines
- Kalimantan Lumbung Energi - Indonesia
- London Commodity Brokers - England
- ICICI Bank Limited - India
- Bukit Baiduri Energy - Indonesia
- Anglo American - United Kingdom
- Aboitiz Power Corporation - Philippines
- Vedanta Resources Plc - India
- Romanian Commodities Exchange
- White Energy Company Limited
- Indogreen Group - Indonesia
- Electricity Generating Authority of Thailand
- Sinarmas Energy and Mining - Indonesia
- Interocean Group of Companies - India
- Sojitz Corporation - Japan
- Bulk Trading Sa - Switzerland
- OPG Power Generation Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Uttam Galva Steels Limited - India
- Medco Energi Mining Internasional
- The State Trading Corporation of India Ltd
- Gujarat Mineral Development Corp Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Kepco SPC Power Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- Latin American Coal - Colombia
- SMC Global Power, Philippines
- Directorate Of Revenue Intelligence - India
- Wood Mackenzie - Singapore
- Manunggal Multi Energi - Indonesia
- IEA Clean Coal Centre - UK
- Savvy Resources Ltd - HongKong
- GN Power Mariveles Coal Plant, Philippines
- Standard Chartered Bank - UAE
- Merrill Lynch Commodities Europe
- Makarim & Taira - Indonesia
- The University of Queensland
- Independent Power Producers Association of India
- Alfred C Toepfer International GmbH - Germany
- Cigading International Bulk Terminal - Indonesia
- Thiess Contractors Indonesia
- Economic Council, Georgia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Coalindo Energy - Indonesia
- LBH Netherlands Bv - Netherlands
- Kartika Selabumi Mining - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- Bangladesh Power Developement Board
- Semirara Mining and Power Corporation, Philippines
- Ministry of Transport, Egypt
- Australian Commodity Traders Exchange
- Indo Tambangraya Megah - Indonesia
- Eastern Coal Council - USA
- Semirara Mining Corp, Philippines
- Minerals Council of Australia
- Miang Besar Coal Terminal - Indonesia
- International Coal Ventures Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- Trasteel International SA, Italy
- Karbindo Abesyapradhi - Indoneisa
- Planning Commission, India
- TeaM Sual Corporation - Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Cement Manufacturers Association - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Central Java Power - Indonesia
- Toyota Tsusho Corporation, Japan
- Orica Australia Pty. Ltd.
- Bhatia International Limited - India
- Videocon Industries ltd - India
- Aditya Birla Group - India
- Georgia Ports Authority, United States
- Ind-Barath Power Infra Limited - India
- ASAPP Information Group - India
- Kaltim Prima Coal - Indonesia
- Simpson Spence & Young - Indonesia
- Rio Tinto Coal - Australia
- Globalindo Alam Lestari - Indonesia
- CNBM International Corporation - China
- Banpu Public Company Limited - Thailand
- SN Aboitiz Power Inc, Philippines
- India Bulls Power Limited - India
- Malabar Cements Ltd - India
- Bayan Resources Tbk. - Indonesia
- Chamber of Mines of South Africa
- Sarangani Energy Corporation, Philippines
- Jindal Steel & Power Ltd - India
- Petron Corporation, Philippines
- South Luzon Thermal Energy Corporation
- Ministry of Mines - Canada
- PNOC Exploration Corporation - Philippines
- GVK Power & Infra Limited - India
- Vizag Seaport Private Limited - India
- Meenaskhi Energy Private Limited - India
- Coal and Oil Company - UAE
- CIMB Investment Bank - Malaysia
- Lanco Infratech Ltd - India
- Siam City Cement - Thailand
- Sindya Power Generating Company Private Ltd
- Thai Mozambique Logistica
- Bhushan Steel Limited - India
- Power Finance Corporation Ltd., India
- Salva Resources Pvt Ltd - India
- Central Electricity Authority - India
- Sical Logistics Limited - India
- Marubeni Corporation - India
- Leighton Contractors Pty Ltd - Australia
- Meralco Power Generation, Philippines
- Antam Resourcindo - Indonesia
- Africa Commodities Group - South Africa
- Pipit Mutiara Jaya. PT, Indonesia
- Tata Chemicals Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Karaikal Port Pvt Ltd - India
- Tamil Nadu electricity Board
- Port Waratah Coal Services - Australia
- Ceylon Electricity Board - Sri Lanka
- Oldendorff Carriers - Singapore
- Gujarat Sidhee Cement - India
- Krishnapatnam Port Company Ltd. - India
- Bukit Makmur.PT - Indonesia
- Kideco Jaya Agung - Indonesia
- Edison Trading Spa - Italy
- Price Waterhouse Coopers - Russia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indian Oil Corporation Limited
- SMG Consultants - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- PTC India Limited - India
- Indika Energy - Indonesia
- Altura Mining Limited, Indonesia
- Billiton Holdings Pty Ltd - Australia
- AsiaOL BioFuels Corp., Philippines
- Kohat Cement Company Ltd. - Pakistan
- Deloitte Consulting - India
- Kobexindo Tractors - Indoneisa
- Xindia Steels Limited - India
- Attock Cement Pakistan Limited
- VISA Power Limited - India
- Bharathi Cement Corporation - India
- Jorong Barutama Greston.PT - Indonesia
- McConnell Dowell - Australia
- Singapore Mercantile Exchange
- Maheswari Brothers Coal Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- New Zealand Coal & Carbon
- GMR Energy Limited - India
- Baramulti Group, Indonesia
- Energy Link Ltd, New Zealand
- Larsen & Toubro Limited - India
- Parry Sugars Refinery, India
- Metalloyd Limited - United Kingdom
- Wilmar Investment Holdings
- Australian Coal Association
- Therma Luzon, Inc, Philippines
- Jaiprakash Power Ventures ltd
- Posco Energy - South Korea
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