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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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Thursday, 24 March 11
INDIA'S CHETTINAD INTERNATIONAL COAL TERMINAL'S PERMISSIBLE DRAFT HAS INCREASED TO 13.5 M
COALspot.com - Chettinad International Coal Terminal in Ennore port has the berth with draft 13.5 Meters now, according to E-Mail statement received ...
Thursday, 24 March 11
DRY BULK MARKET RISES, CAPESIZES GAIN BUT REMAIN LOW EARNERS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market posted modest gains on Wednesday, with the Baltic Dry Index rising to 1,565 points, up by 1.43 percent on the day, led by gains ...
Wednesday, 23 March 11
INDIAS TNPL RECEIVED 1.120 MMTS OF COAL AGAINST ITS 160K MT INQUIRY
COALspot.com - Tamil Nadu Newsprint and Papers Ltd. has closed its inquiry today.
Seven Indian coal traders have submitted price bid to sup ...
Tuesday, 22 March 11
MONNET ISPAT & ENERGY LIMITED ACQUIRES INDONESIAN COAL COMPANY THROUGH ITS SUBSIDIARY MONNET GLOBAL LIMITED
Monnet Global Limited (MGL) acquires PT Sarwa Sembada Karya Bumi, Sumatra & on part exploration the reserves of 65 million tonne on Thermal Coal ...
Tuesday, 22 March 11
RI COAL EXPORTS TO JAPAN MAY BE DIVERTED TO OTHER COUNTRIES - THE JAKARTA POST
The Jakarta Post reported that, Indonesia’s coal exports to Japan will likely be diverted to other countries for several months after the rece ...
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- Indogreen Group - Indonesia
- Coalindo Energy - Indonesia
- Africa Commodities Group - South Africa
- TNB Fuel Sdn Bhd - Malaysia
- Parry Sugars Refinery, India
- Bukit Makmur.PT - Indonesia
- IHS Mccloskey Coal Group - USA
- Holcim Trading Pte Ltd - Singapore
- Eastern Coal Council - USA
- GAC Shipping (India) Pvt Ltd
- Meralco Power Generation, Philippines
- Aditya Birla Group - India
- Georgia Ports Authority, United States
- GN Power Mariveles Coal Plant, Philippines
- Samtan Co., Ltd - South Korea
- Indika Energy - Indonesia
- VISA Power Limited - India
- Madhucon Powers Ltd - India
- Semirara Mining and Power Corporation, Philippines
- SMG Consultants - Indonesia
- Bayan Resources Tbk. - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Romanian Commodities Exchange
- GMR Energy Limited - India
- Renaissance Capital - South Africa
- Latin American Coal - Colombia
- Australian Coal Association
- Altura Mining Limited, Indonesia
- Coastal Gujarat Power Limited - India
- Bhatia International Limited - India
- Chamber of Mines of South Africa
- Karaikal Port Pvt Ltd - India
- Energy Development Corp, Philippines
- Central Java Power - Indonesia
- Makarim & Taira - Indonesia
- PTC India Limited - India
- Ministry of Finance - Indonesia
- Posco Energy - South Korea
- Bharathi Cement Corporation - India
- Xindia Steels Limited - India
- OPG Power Generation Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Barasentosa Lestari - Indonesia
- CNBM International Corporation - China
- Bhoruka Overseas - Indonesia
- Dalmia Cement Bharat India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Trasteel International SA, Italy
- Directorate Of Revenue Intelligence - India
- The University of Queensland
- Grasim Industreis Ltd - India
- Bulk Trading Sa - Switzerland
- Lanco Infratech Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Thai Mozambique Logistica
- Carbofer General Trading SA - India
- Petrochimia International Co. Ltd.- Taiwan
- Gujarat Sidhee Cement - India
- Mercuria Energy - Indonesia
- TeaM Sual Corporation - Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Miang Besar Coal Terminal - Indonesia
- Goldman Sachs - Singapore
- Toyota Tsusho Corporation, Japan
- London Commodity Brokers - England
- Marubeni Corporation - India
- ICICI Bank Limited - India
- Port Waratah Coal Services - Australia
- Ceylon Electricity Board - Sri Lanka
- Mjunction Services Limited - India
- Interocean Group of Companies - India
- Economic Council, Georgia
- International Coal Ventures Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Siam City Cement PLC, Thailand
- Simpson Spence & Young - Indonesia
- Petron Corporation, Philippines
- Tata Chemicals Ltd - India
- Commonwealth Bank - Australia
- Sarangani Energy Corporation, Philippines
- The Treasury - Australian Government
- Tamil Nadu electricity Board
- Edison Trading Spa - Italy
- Cement Manufacturers Association - India
- Essar Steel Hazira Ltd - India
- Ministry of Transport, Egypt
- Electricity Generating Authority of Thailand
- Maheswari Brothers Coal Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Krishnapatnam Port Company Ltd. - India
- Sindya Power Generating Company Private Ltd
- Merrill Lynch Commodities Europe
- Ind-Barath Power Infra Limited - India
- Manunggal Multi Energi - Indonesia
- White Energy Company Limited
- Minerals Council of Australia
- SMC Global Power, Philippines
- Global Business Power Corporation, Philippines
- IEA Clean Coal Centre - UK
- LBH Netherlands Bv - Netherlands
- Metalloyd Limited - United Kingdom
- Kideco Jaya Agung - Indonesia
- Sojitz Corporation - Japan
- Iligan Light & Power Inc, Philippines
- Indonesian Coal Mining Association
- Deloitte Consulting - India
- Bangladesh Power Developement Board
- Parliament of New Zealand
- Star Paper Mills Limited - India
- Thiess Contractors Indonesia
- Timah Investasi Mineral - Indoneisa
- Vedanta Resources Plc - India
- Pipit Mutiara Jaya. PT, Indonesia
- CIMB Investment Bank - Malaysia
- Bhushan Steel Limited - India
- Attock Cement Pakistan Limited
- Borneo Indobara - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- PNOC Exploration Corporation - Philippines
- Kumho Petrochemical, South Korea
- Global Green Power PLC Corporation, Philippines
- Singapore Mercantile Exchange
- Straits Asia Resources Limited - Singapore
- Aboitiz Power Corporation - Philippines
- Malabar Cements Ltd - India
- Salva Resources Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- PowerSource Philippines DevCo
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Vizag Seaport Private Limited - India
- Antam Resourcindo - Indonesia
- Bukit Baiduri Energy - Indonesia
- Banpu Public Company Limited - Thailand
- Cigading International Bulk Terminal - Indonesia
- McConnell Dowell - Australia
- Globalindo Alam Lestari - Indonesia
- Kaltim Prima Coal - Indonesia
- Semirara Mining Corp, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Asmin Koalindo Tuhup - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Anglo American - United Kingdom
- Indian Energy Exchange, India
- Maharashtra Electricity Regulatory Commission - India
- The State Trading Corporation of India Ltd
- Independent Power Producers Association of India
- Jaiprakash Power Ventures ltd
- New Zealand Coal & Carbon
- Power Finance Corporation Ltd., India
- Baramulti Group, Indonesia
- Riau Bara Harum - Indonesia
- Coal and Oil Company - UAE
- Indo Tambangraya Megah - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Kobexindo Tractors - Indoneisa
- Sinarmas Energy and Mining - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Eastern Energy - Thailand
- Oldendorff Carriers - Singapore
- Heidelberg Cement - Germany
- Sree Jayajothi Cements Limited - India
- Australian Commodity Traders Exchange
- Electricity Authority, New Zealand
- Therma Luzon, Inc, Philippines
- Leighton Contractors Pty Ltd - Australia
- Planning Commission, India
- European Bulk Services B.V. - Netherlands
- Kohat Cement Company Ltd. - Pakistan
- Orica Australia Pty. Ltd.
- Sakthi Sugars Limited - India
- Jindal Steel & Power Ltd - India
- Indian Oil Corporation Limited
- Formosa Plastics Group - Taiwan
- Wilmar Investment Holdings
- Mintek Dendrill Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- Price Waterhouse Coopers - Russia
- ASAPP Information Group - India
- Kapuas Tunggal Persada - Indonesia
- Savvy Resources Ltd - HongKong
- Larsen & Toubro Limited - India
- Wood Mackenzie - Singapore
- San Jose City I Power Corp, Philippines
- Medco Energi Mining Internasional
- Chettinad Cement Corporation Ltd - India
- Kepco SPC Power Corporation, Philippines
- GVK Power & Infra Limited - India
- Sical Logistics Limited - India
- Ambuja Cements Ltd - India
- Ministry of Mines - Canada
- Uttam Galva Steels Limited - India
- South Luzon Thermal Energy Corporation
- Kartika Selabumi Mining - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Orica Mining Services - Indonesia
- AsiaOL BioFuels Corp., Philippines
- MS Steel International - UAE
- Videocon Industries ltd - India
- Rashtriya Ispat Nigam Limited - India
- Meenaskhi Energy Private Limited - India
- Pendopo Energi Batubara - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Intertek Mineral Services - Indonesia
- India Bulls Power Limited - India
- Alfred C Toepfer International GmbH - Germany
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Mercator Lines Limited - India
- Energy Link Ltd, New Zealand
- Siam City Cement - Thailand
- Standard Chartered Bank - UAE
- Rio Tinto Coal - Australia
- Agrawal Coal Company - India
- Global Coal Blending Company Limited - Australia
- Central Electricity Authority - India
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