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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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Tuesday, 29 March 11
JAPAN FACTOR RIPPLING THROUGH THE SHIPPING MARKETS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
With the world watching the latest developments regarding the nuclear crisis in Japan and the devastating effects of the recent tragedy that struck ...
Tuesday, 29 March 11
DUTY EXEMPTION UNLIKELY TO IMPACT COKING COAL PRICES - PTI NEWS
Press Trust of India News reported that, the exemption to certain types of coking coal from customs duty is not likely to impact steel prices at pre ...
Monday, 28 March 11
HARUM ENERGY FY10 EARNING UP 7.23% - INSIDER STORIES
Thermal coal producer PT Harum Energy Tbk (HRUM), controlled by Indonesian businessman Kiki Barki through his son Lawrence Barki, posted a slight in ...
Monday, 28 March 11
IBT RAISES CAPACITY OF PULAU LAUT TERMINAL - THE JAKARTA POST
The Jakarta Post reported that, coal infrastructure and logistics firm PT Indonesia Bulk Terminal (IBT), a subsidiary of PT Adaro Energy Tbk, plans ...
Saturday, 26 March 11
THE FREIGHT MARKET REMAINED A BIT VOLATILE THIS WEEK - CAPT. REDDY
COALspot.com - "The freight market remained a bit volatile this week", says Capt. Reddy, director of Vistaar Shipping Singapore.
Howeve ...
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- Star Paper Mills Limited - India
- Larsen & Toubro Limited - India
- Kideco Jaya Agung - Indonesia
- Wilmar Investment Holdings
- VISA Power Limited - India
- Manunggal Multi Energi - Indonesia
- Aboitiz Power Corporation - Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Tamil Nadu electricity Board
- Jorong Barutama Greston.PT - Indonesia
- The State Trading Corporation of India Ltd
- Thiess Contractors Indonesia
- Salva Resources Pvt Ltd - India
- Lanco Infratech Ltd - India
- SMG Consultants - Indonesia
- Central Java Power - Indonesia
- Price Waterhouse Coopers - Russia
- Standard Chartered Bank - UAE
- Attock Cement Pakistan Limited
- Kobexindo Tractors - Indoneisa
- Bhatia International Limited - India
- Barasentosa Lestari - Indonesia
- Bharathi Cement Corporation - India
- Eastern Energy - Thailand
- Aditya Birla Group - India
- Minerals Council of Australia
- Meralco Power Generation, Philippines
- PTC India Limited - India
- Timah Investasi Mineral - Indoneisa
- Kohat Cement Company Ltd. - Pakistan
- Vizag Seaport Private Limited - India
- Jindal Steel & Power Ltd - India
- Jaiprakash Power Ventures ltd
- Sarangani Energy Corporation, Philippines
- Anglo American - United Kingdom
- Krishnapatnam Port Company Ltd. - India
- Agrawal Coal Company - India
- Bangladesh Power Developement Board
- Siam City Cement PLC, Thailand
- Bukit Baiduri Energy - Indonesia
- Mercator Lines Limited - India
- Antam Resourcindo - Indonesia
- Interocean Group of Companies - India
- Central Electricity Authority - India
- Marubeni Corporation - India
- Siam City Cement - Thailand
- CNBM International Corporation - China
- Kapuas Tunggal Persada - Indonesia
- Wood Mackenzie - Singapore
- Bhoruka Overseas - Indonesia
- MS Steel International - UAE
- Mercuria Energy - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Medco Energi Mining Internasional
- PNOC Exploration Corporation - Philippines
- New Zealand Coal & Carbon
- ICICI Bank Limited - India
- Mjunction Services Limited - India
- Economic Council, Georgia
- European Bulk Services B.V. - Netherlands
- Commonwealth Bank - Australia
- Edison Trading Spa - Italy
- White Energy Company Limited
- Deloitte Consulting - India
- Banpu Public Company Limited - Thailand
- South Luzon Thermal Energy Corporation
- Mintek Dendrill Indonesia
- Latin American Coal - Colombia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Billiton Holdings Pty Ltd - Australia
- Sindya Power Generating Company Private Ltd
- Toyota Tsusho Corporation, Japan
- Directorate Of Revenue Intelligence - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Electricity Generating Authority of Thailand
- Posco Energy - South Korea
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Global Business Power Corporation, Philippines
- Coalindo Energy - Indonesia
- Karaikal Port Pvt Ltd - India
- McConnell Dowell - Australia
- Gujarat Electricity Regulatory Commission - India
- Maheswari Brothers Coal Limited - India
- Orica Australia Pty. Ltd.
- Videocon Industries ltd - India
- Globalindo Alam Lestari - Indonesia
- Georgia Ports Authority, United States
- Holcim Trading Pte Ltd - Singapore
- IHS Mccloskey Coal Group - USA
- The Treasury - Australian Government
- OPG Power Generation Pvt Ltd - India
- Indogreen Group - Indonesia
- Thai Mozambique Logistica
- Chamber of Mines of South Africa
- Ceylon Electricity Board - Sri Lanka
- Madhucon Powers Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Formosa Plastics Group - Taiwan
- TeaM Sual Corporation - Philippines
- Semirara Mining Corp, Philippines
- Parliament of New Zealand
- GAC Shipping (India) Pvt Ltd
- Iligan Light & Power Inc, Philippines
- Meenaskhi Energy Private Limited - India
- Parry Sugars Refinery, India
- TNB Fuel Sdn Bhd - Malaysia
- Sakthi Sugars Limited - India
- Grasim Industreis Ltd - India
- Sojitz Corporation - Japan
- Rio Tinto Coal - Australia
- London Commodity Brokers - England
- Tata Chemicals Ltd - India
- Uttam Galva Steels Limited - India
- Merrill Lynch Commodities Europe
- Energy Development Corp, Philippines
- PetroVietnam Power Coal Import and Supply Company
- International Coal Ventures Pvt Ltd - India
- Indika Energy - Indonesia
- Sree Jayajothi Cements Limited - India
- Kumho Petrochemical, South Korea
- Goldman Sachs - Singapore
- Dalmia Cement Bharat India
- Power Finance Corporation Ltd., India
- Vedanta Resources Plc - India
- Independent Power Producers Association of India
- Intertek Mineral Services - Indonesia
- Makarim & Taira - Indonesia
- Samtan Co., Ltd - South Korea
- Petron Corporation, Philippines
- Cement Manufacturers Association - India
- Renaissance Capital - South Africa
- IEA Clean Coal Centre - UK
- Bhushan Steel Limited - India
- Ind-Barath Power Infra Limited - India
- GMR Energy Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Ambuja Cements Ltd - India
- Kepco SPC Power Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Energy Link Ltd, New Zealand
- Global Green Power PLC Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Cigading International Bulk Terminal - Indonesia
- Binh Thuan Hamico - Vietnam
- Leighton Contractors Pty Ltd - Australia
- ASAPP Information Group - India
- Australian Commodity Traders Exchange
- GN Power Mariveles Coal Plant, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Semirara Mining and Power Corporation, Philippines
- Baramulti Group, Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Savvy Resources Ltd - HongKong
- Africa Commodities Group - South Africa
- The University of Queensland
- Indonesian Coal Mining Association
- Carbofer General Trading SA - India
- Xindia Steels Limited - India
- CIMB Investment Bank - Malaysia
- Port Waratah Coal Services - Australia
- Australian Coal Association
- Bayan Resources Tbk. - Indonesia
- Romanian Commodities Exchange
- Eastern Coal Council - USA
- Borneo Indobara - Indonesia
- Electricity Authority, New Zealand
- Kartika Selabumi Mining - Indonesia
- Metalloyd Limited - United Kingdom
- Coastal Gujarat Power Limited - India
- Gujarat Sidhee Cement - India
- Essar Steel Hazira Ltd - India
- Ministry of Mines - Canada
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Global Coal Blending Company Limited - Australia
- Bulk Trading Sa - Switzerland
- Miang Besar Coal Terminal - Indonesia
- Pendopo Energi Batubara - Indonesia
- Therma Luzon, Inc, Philippines
- Oldendorff Carriers - Singapore
- Altura Mining Limited, Indonesia
- Planning Commission, India
- Riau Bara Harum - Indonesia
- Straits Asia Resources Limited - Singapore
- Chettinad Cement Corporation Ltd - India
- Coal and Oil Company - UAE
- Alfred C Toepfer International GmbH - Germany
- Indian Energy Exchange, India
- Kaltim Prima Coal - Indonesia
- SMC Global Power, Philippines
- Sical Logistics Limited - India
- Ministry of Finance - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- GVK Power & Infra Limited - India
- San Jose City I Power Corp, Philippines
- Singapore Mercantile Exchange
- Heidelberg Cement - Germany
- Asmin Koalindo Tuhup - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Malabar Cements Ltd - India
- LBH Netherlands Bv - Netherlands
- Simpson Spence & Young - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- India Bulls Power Limited - India
- PowerSource Philippines DevCo
- Ministry of Transport, Egypt
- Orica Mining Services - Indonesia
- Trasteel International SA, Italy
- Indian Oil Corporation Limited
- Bukit Makmur.PT - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Maharashtra Electricity Regulatory Commission - India
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