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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, 22 March 11
KRISHNAPATNAM PORT SETS ALL INDIA RECORD FOR COAL DISCHARGING
COALspot.com - "Krishnapatnam Port has set an all India record for discharging 71,587 tons of steam coal in just 24 hrs using the conventional ...
Sunday, 20 March 11
FREIGHT MARKETS COULD SOFTEN NEXT WEEK DUE TO JAPANESE PORTS CLOSURE AND LIBYAN CRISIS - VISTAAR
COALspot.com - The BDI was down by 1.98 pct (closing at 1531 points) mainly due to Cape index which was down by almost 11 pct and closed 1687 points ...
Friday, 18 March 11
FALL IN INDONESIAN COAL EXPORTS IN FEBRUARY 11
COALspot.com - Indonesian coal exports seen a fall of 10.76% during Feb 2011. The world’s largest coal exporter shipped 22.029 MMts of c ...
Thursday, 17 March 11
THE PACIFIC HANDY MARKET IS CURRENTLY STEADY - FEARNBULK
Handy
The Atlantic market is showing signs of recovery and does not seem to be affected by the Japan disaster. The market is very positional and i ...
Tuesday, 15 March 11
COAL PRODUCTION FORECAST TO SURGE ON RISING PRICES - THE JAKARTA GLOBE
The Jakarta Globe reported that, Indonesia’s coal production is forecast to increase by 20 percent this year as coal prices continue to ...
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- Ministry of Finance - Indonesia
- Global Coal Blending Company Limited - Australia
- Tamil Nadu electricity Board
- Iligan Light & Power Inc, Philippines
- Kumho Petrochemical, South Korea
- Orica Mining Services - Indonesia
- Binh Thuan Hamico - Vietnam
- Intertek Mineral Services - Indonesia
- Tata Chemicals Ltd - India
- Cement Manufacturers Association - India
- Bhoruka Overseas - Indonesia
- Gujarat Sidhee Cement - India
- Vijayanagar Sugar Pvt Ltd - India
- International Coal Ventures Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Standard Chartered Bank - UAE
- Planning Commission, India
- Bahari Cakrawala Sebuku - Indonesia
- Chettinad Cement Corporation Ltd - India
- Coalindo Energy - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Indonesian Coal Mining Association
- AsiaOL BioFuels Corp., Philippines
- Independent Power Producers Association of India
- Trasteel International SA, Italy
- White Energy Company Limited
- Chamber of Mines of South Africa
- Meralco Power Generation, Philippines
- San Jose City I Power Corp, Philippines
- London Commodity Brokers - England
- Vedanta Resources Plc - India
- Heidelberg Cement - Germany
- Kideco Jaya Agung - Indonesia
- Metalloyd Limited - United Kingdom
- Port Waratah Coal Services - Australia
- Rio Tinto Coal - Australia
- SN Aboitiz Power Inc, Philippines
- Pendopo Energi Batubara - Indonesia
- Aditya Birla Group - India
- Malabar Cements Ltd - India
- Aboitiz Power Corporation - Philippines
- Global Green Power PLC Corporation, Philippines
- Ministry of Mines - Canada
- Miang Besar Coal Terminal - Indonesia
- Georgia Ports Authority, United States
- CNBM International Corporation - China
- Minerals Council of Australia
- Africa Commodities Group - South Africa
- Bukit Makmur.PT - Indonesia
- Ambuja Cements Ltd - India
- Essar Steel Hazira Ltd - India
- OPG Power Generation Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kaltim Prima Coal - Indonesia
- Commonwealth Bank - Australia
- Electricity Authority, New Zealand
- Madhucon Powers Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Power Finance Corporation Ltd., India
- Dalmia Cement Bharat India
- Edison Trading Spa - Italy
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Eastern Coal Council - USA
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indian Oil Corporation Limited
- Wood Mackenzie - Singapore
- GMR Energy Limited - India
- Mjunction Services Limited - India
- Global Business Power Corporation, Philippines
- Indogreen Group - Indonesia
- The Treasury - Australian Government
- Goldman Sachs - Singapore
- Central Java Power - Indonesia
- Price Waterhouse Coopers - Russia
- Australian Coal Association
- ASAPP Information Group - India
- The State Trading Corporation of India Ltd
- Petron Corporation, Philippines
- Orica Australia Pty. Ltd.
- European Bulk Services B.V. - Netherlands
- Barasentosa Lestari - Indonesia
- Interocean Group of Companies - India
- Krishnapatnam Port Company Ltd. - India
- Eastern Energy - Thailand
- Billiton Holdings Pty Ltd - Australia
- Neyveli Lignite Corporation Ltd, - India
- New Zealand Coal & Carbon
- Siam City Cement PLC, Thailand
- Kalimantan Lumbung Energi - Indonesia
- Indian Energy Exchange, India
- TeaM Sual Corporation - Philippines
- Energy Link Ltd, New Zealand
- VISA Power Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- PNOC Exploration Corporation - Philippines
- Sojitz Corporation - Japan
- Simpson Spence & Young - Indonesia
- Jaiprakash Power Ventures ltd
- Kobexindo Tractors - Indoneisa
- Marubeni Corporation - India
- Renaissance Capital - South Africa
- Bulk Trading Sa - Switzerland
- Sindya Power Generating Company Private Ltd
- Therma Luzon, Inc, Philippines
- Larsen & Toubro Limited - India
- Banpu Public Company Limited - Thailand
- Karbindo Abesyapradhi - Indoneisa
- ICICI Bank Limited - India
- PowerSource Philippines DevCo
- Formosa Plastics Group - Taiwan
- Straits Asia Resources Limited - Singapore
- Directorate General of MIneral and Coal - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Videocon Industries ltd - India
- Economic Council, Georgia
- Agrawal Coal Company - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Electricity Generating Authority of Thailand
- GAC Shipping (India) Pvt Ltd
- Grasim Industreis Ltd - India
- IHS Mccloskey Coal Group - USA
- PetroVietnam Power Coal Import and Supply Company
- Timah Investasi Mineral - Indoneisa
- Sinarmas Energy and Mining - Indonesia
- PTC India Limited - India
- Australian Commodity Traders Exchange
- Coastal Gujarat Power Limited - India
- Karaikal Port Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Cigading International Bulk Terminal - Indonesia
- Sree Jayajothi Cements Limited - India
- Siam City Cement - Thailand
- Vizag Seaport Private Limited - India
- Bayan Resources Tbk. - Indonesia
- Bangladesh Power Developement Board
- Semirara Mining Corp, Philippines
- Romanian Commodities Exchange
- Directorate Of Revenue Intelligence - India
- Singapore Mercantile Exchange
- India Bulls Power Limited - India
- Parliament of New Zealand
- Attock Cement Pakistan Limited
- Coal and Oil Company - UAE
- Bhushan Steel Limited - India
- Jindal Steel & Power Ltd - India
- Uttam Galva Steels Limited - India
- MS Steel International - UAE
- Rashtriya Ispat Nigam Limited - India
- Bharathi Cement Corporation - India
- GVK Power & Infra Limited - India
- Holcim Trading Pte Ltd - Singapore
- Mintek Dendrill Indonesia
- Energy Development Corp, Philippines
- Xindia Steels Limited - India
- Indo Tambangraya Megah - Indonesia
- Leighton Contractors Pty Ltd - Australia
- TNB Fuel Sdn Bhd - Malaysia
- IEA Clean Coal Centre - UK
- Samtan Co., Ltd - South Korea
- Globalindo Alam Lestari - Indonesia
- McConnell Dowell - Australia
- Gujarat Mineral Development Corp Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Posco Energy - South Korea
- Petrochimia International Co. Ltd.- Taiwan
- Thiess Contractors Indonesia
- SMG Consultants - Indonesia
- Merrill Lynch Commodities Europe
- Deloitte Consulting - India
- Salva Resources Pvt Ltd - India
- Ministry of Transport, Egypt
- Sarangani Energy Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- Kepco SPC Power Corporation, Philippines
- Bhatia International Limited - India
- Borneo Indobara - Indonesia
- Indika Energy - Indonesia
- The University of Queensland
- Baramulti Group, Indonesia
- Maheswari Brothers Coal Limited - India
- LBH Netherlands Bv - Netherlands
- Savvy Resources Ltd - HongKong
- Toyota Tsusho Corporation, Japan
- Kapuas Tunggal Persada - Indonesia
- Sical Logistics Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Ind-Barath Power Infra Limited - India
- Parry Sugars Refinery, India
- Altura Mining Limited, Indonesia
- Carbofer General Trading SA - India
- Mercuria Energy - Indonesia
- Oldendorff Carriers - Singapore
- Antam Resourcindo - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Medco Energi Mining Internasional
- South Luzon Thermal Energy Corporation
- Thai Mozambique Logistica
- Riau Bara Harum - Indonesia
- Mercator Lines Limited - India
- CIMB Investment Bank - Malaysia
- Lanco Infratech Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Gujarat Electricity Regulatory Commission - India
- Wilmar Investment Holdings
- Makarim & Taira - Indonesia
- SMC Global Power, Philippines
- Star Paper Mills Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Manunggal Multi Energi - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Meenaskhi Energy Private Limited - India
- Central Electricity Authority - India
- Latin American Coal - Colombia
- Anglo American - United Kingdom
- Sakthi Sugars Limited - India
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