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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$500 million each year.
Churchill hired corporate heavyweight Credit Suisse back in April 2010 to complete a strategic review and help it evaluate the various options for East Kutai’s project financing.
Source: Proactive Investors (by Sergei Balashov)
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Saturday, 26 March 11
FLSMIDTH WINS MULTIMILLION DOLLAR MATERIAL HANDLING PROJECT IN INDONESIA
FLSmidth has signed a contract in Jakarta worth in excess of USD 135m (DKK 700m) with PT Adaro Indonesia, a subsidiary of PT Adaro Energy Tbk., to s ...
Saturday, 26 March 11
ADARO AIMS TO DOUBLE COAL PRODUCTION -THE JAKARTA POST
The Jakarta Post reported that, coal producer PT Adaro Indonesia is planning to soon boost its production capacity to 80 million tons annually, almo ...
Friday, 25 March 11
KNOWLEDGE INFRASTRUCTURE TO BAG 160,000 MT COAL SUPPLY ORDER FROM TNPL
COALspot.com - Delhi based Knowledge infrastructure Systems Pvt. Ltd offered lowest price of US$ 97.10 per metric ton for calorific value of 6000 GA ...
Friday, 25 March 11
THE CAPESIZE MARKET CONTINUED TO FALL - FEARNBULK
Handy
The Atlantic market remains stable with more activity from the Black Sea to Feast paying in the mid 20´s on supras.
The USG remain ...
Friday, 25 March 11
BORNEO ENERGI FY10 NET INCOME SOARS - INSIDER STORIES
Coking coal producer PT Borneo Lumbung Energi Tbk (BORN) booked a skyrocket net income by 499.72% from net loss position in 2009, as quoted by Insid ...
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- Georgia Ports Authority, United States
- The State Trading Corporation of India Ltd
- Tata Chemicals Ltd - India
- Toyota Tsusho Corporation, Japan
- European Bulk Services B.V. - Netherlands
- Vijayanagar Sugar Pvt Ltd - India
- Attock Cement Pakistan Limited
- Energy Link Ltd, New Zealand
- Mercuria Energy - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Ind-Barath Power Infra Limited - India
- Thai Mozambique Logistica
- Agrawal Coal Company - India
- Sarangani Energy Corporation, Philippines
- McConnell Dowell - Australia
- Carbofer General Trading SA - India
- Siam City Cement - Thailand
- Kaltim Prima Coal - Indonesia
- Binh Thuan Hamico - Vietnam
- GAC Shipping (India) Pvt Ltd
- Economic Council, Georgia
- Coal and Oil Company - UAE
- Ambuja Cements Ltd - India
- Parry Sugars Refinery, India
- Power Finance Corporation Ltd., India
- SMG Consultants - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Videocon Industries ltd - India
- Kalimantan Lumbung Energi - Indonesia
- PNOC Exploration Corporation - Philippines
- New Zealand Coal & Carbon
- Rio Tinto Coal - Australia
- Medco Energi Mining Internasional
- Independent Power Producers Association of India
- Bangladesh Power Developement Board
- Bahari Cakrawala Sebuku - Indonesia
- Kobexindo Tractors - Indoneisa
- Intertek Mineral Services - Indonesia
- Kumho Petrochemical, South Korea
- Kideco Jaya Agung - Indonesia
- Marubeni Corporation - India
- Ministry of Finance - Indonesia
- Kepco SPC Power Corporation, Philippines
- GVK Power & Infra Limited - India
- Billiton Holdings Pty Ltd - Australia
- Tamil Nadu electricity Board
- South Luzon Thermal Energy Corporation
- Gujarat Sidhee Cement - India
- Oldendorff Carriers - Singapore
- IEA Clean Coal Centre - UK
- Ministry of Mines - Canada
- GN Power Mariveles Coal Plant, Philippines
- Banpu Public Company Limited - Thailand
- MS Steel International - UAE
- Metalloyd Limited - United Kingdom
- Sakthi Sugars Limited - India
- Salva Resources Pvt Ltd - India
- Chamber of Mines of South Africa
- Madhucon Powers Ltd - India
- SMC Global Power, Philippines
- Krishnapatnam Port Company Ltd. - India
- Posco Energy - South Korea
- Miang Besar Coal Terminal - Indonesia
- India Bulls Power Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Bhoruka Overseas - Indonesia
- Malabar Cements Ltd - India
- Star Paper Mills Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Thiess Contractors Indonesia
- Petron Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- Altura Mining Limited, Indonesia
- Siam City Cement PLC, Thailand
- Planning Commission, India
- Straits Asia Resources Limited - Singapore
- Directorate Of Revenue Intelligence - India
- Kohat Cement Company Ltd. - Pakistan
- Goldman Sachs - Singapore
- Ceylon Electricity Board - Sri Lanka
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Deloitte Consulting - India
- Uttam Galva Steels Limited - India
- GMR Energy Limited - India
- Eastern Energy - Thailand
- Aboitiz Power Corporation - Philippines
- Mjunction Services Limited - India
- Riau Bara Harum - Indonesia
- Commonwealth Bank - Australia
- Semirara Mining Corp, Philippines
- Sical Logistics Limited - India
- Global Coal Blending Company Limited - Australia
- Sindya Power Generating Company Private Ltd
- San Jose City I Power Corp, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Standard Chartered Bank - UAE
- Essar Steel Hazira Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Baramulti Group, Indonesia
- Borneo Indobara - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Sinarmas Energy and Mining - Indonesia
- Indogreen Group - Indonesia
- Therma Luzon, Inc, Philippines
- Manunggal Multi Energi - Indonesia
- Central Java Power - Indonesia
- Grasim Industreis Ltd - India
- Coastal Gujarat Power Limited - India
- Mercator Lines Limited - India
- Anglo American - United Kingdom
- Kartika Selabumi Mining - Indonesia
- Indika Energy - Indonesia
- Indo Tambangraya Megah - Indonesia
- Lanco Infratech Ltd - India
- PowerSource Philippines DevCo
- Iligan Light & Power Inc, Philippines
- Bukit Makmur.PT - Indonesia
- Aditya Birla Group - India
- Edison Trading Spa - Italy
- Global Green Power PLC Corporation, Philippines
- Price Waterhouse Coopers - Russia
- Holcim Trading Pte Ltd - Singapore
- Offshore Bulk Terminal Pte Ltd, Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- Bharathi Cement Corporation - India
- Bulk Trading Sa - Switzerland
- Rashtriya Ispat Nigam Limited - India
- Romanian Commodities Exchange
- Bukit Baiduri Energy - Indonesia
- Trasteel International SA, Italy
- Indian Oil Corporation Limited
- Bayan Resources Tbk. - Indonesia
- Interocean Group of Companies - India
- SN Aboitiz Power Inc, Philippines
- Dalmia Cement Bharat India
- Port Waratah Coal Services - Australia
- Savvy Resources Ltd - HongKong
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Meralco Power Generation, Philippines
- ASAPP Information Group - India
- Minerals Council of Australia
- Parliament of New Zealand
- PetroVietnam Power Coal Import and Supply Company
- Globalindo Alam Lestari - Indonesia
- Jaiprakash Power Ventures ltd
- Sree Jayajothi Cements Limited - India
- Formosa Plastics Group - Taiwan
- CIMB Investment Bank - Malaysia
- CNBM International Corporation - China
- Bhushan Steel Limited - India
- VISA Power Limited - India
- International Coal Ventures Pvt Ltd - India
- Larsen & Toubro Limited - India
- Coalindo Energy - Indonesia
- Heidelberg Cement - Germany
- Orica Mining Services - Indonesia
- Vedanta Resources Plc - India
- Indonesian Coal Mining Association
- Merrill Lynch Commodities Europe
- Meenaskhi Energy Private Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Timah Investasi Mineral - Indoneisa
- The Treasury - Australian Government
- White Energy Company Limited
- Africa Commodities Group - South Africa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ministry of Transport, Egypt
- AsiaOL BioFuels Corp., Philippines
- Australian Coal Association
- Wilmar Investment Holdings
- LBH Netherlands Bv - Netherlands
- Electricity Generating Authority of Thailand
- Asmin Koalindo Tuhup - Indonesia
- Singapore Mercantile Exchange
- The University of Queensland
- Global Business Power Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bukit Asam (Persero) Tbk - Indonesia
- Energy Development Corp, Philippines
- Latin American Coal - Colombia
- Cement Manufacturers Association - India
- Leighton Contractors Pty Ltd - Australia
- Semirara Mining and Power Corporation, Philippines
- Indian Energy Exchange, India
- Central Electricity Authority - India
- London Commodity Brokers - England
- Cigading International Bulk Terminal - Indonesia
- Eastern Coal Council - USA
- Alfred C Toepfer International GmbH - Germany
- Directorate General of MIneral and Coal - Indonesia
- Chettinad Cement Corporation Ltd - India
- Australian Commodity Traders Exchange
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- Mintek Dendrill Indonesia
- Makarim & Taira - Indonesia
- Simpson Spence & Young - Indonesia
- Barasentosa Lestari - Indonesia
- Vizag Seaport Private Limited - India
- Xindia Steels Limited - India
- Maharashtra Electricity Regulatory Commission - India
- TeaM Sual Corporation - Philippines
- ICICI Bank Limited - India
- Karaikal Port Pvt Ltd - India
- Orica Australia Pty. Ltd.
- OPG Power Generation Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- Sojitz Corporation - Japan
- Antam Resourcindo - Indonesia
- PTC India Limited - India
- IHS Mccloskey Coal Group - USA
- Wood Mackenzie - Singapore
- Petrochimia International Co. Ltd.- Taiwan
- Renaissance Capital - South Africa
- Electricity Authority, New Zealand
- Maheswari Brothers Coal Limited - India
- Bhatia International Limited - India
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