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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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Monday, 14 March 11
IRON ORE TRADING WORLD EUROPE 2011
Press Release - Strategy and opportunity for miners, steelmakers, end users and the financial community.
The iron ore spot market is growing at a ...
Sunday, 13 March 11
COAL NO LONGER A CHEAP ENERGY SOURCE - THE SUNDAY LEADER
The Sunday Leader reported that, the addition of power generated through coal power to the country’s national grid was initially expected to r ...
Sunday, 13 March 11
THE FREIGHT MARKET SEEMS WILL BE FIRM FOR MARCH AND APRIL - VISTAAR
COALspot.com - The freight market continued to rise with the BDI crossing 1500 points and the cape size index up by 32 pct and all other segments al ...
Friday, 11 March 11
THE HANDY MARKET IS QUITE VOLATILE
Handy
Lacklustre week as the USG is the only bright light with high volumes of petcoke/coal into the Med (paying mid 20´s bss aps USG). Litt ...
Thursday, 10 March 11
DRY BULK MARKET SHOWING SIGNS OF STRONGER RECOVERY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market jumped by 3.37% yesterday, with the industry’s benchmark, the Baltic Dry Index (BDI), moving up to 1,472 points, levels no ...
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- Standard Chartered Bank - UAE
- Kideco Jaya Agung - Indonesia
- Thiess Contractors Indonesia
- Rashtriya Ispat Nigam Limited - India
- Global Coal Blending Company Limited - Australia
- Maharashtra Electricity Regulatory Commission - India
- Siam City Cement - Thailand
- Jaiprakash Power Ventures ltd
- Indonesian Coal Mining Association
- Anglo American - United Kingdom
- GMR Energy Limited - India
- Manunggal Multi Energi - Indonesia
- SN Aboitiz Power Inc, Philippines
- Ministry of Transport, Egypt
- Petrochimia International Co. Ltd.- Taiwan
- Bangladesh Power Developement Board
- Bayan Resources Tbk. - Indonesia
- Georgia Ports Authority, United States
- Videocon Industries ltd - India
- IHS Mccloskey Coal Group - USA
- Pendopo Energi Batubara - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Ministry of Finance - Indonesia
- Orica Mining Services - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- PNOC Exploration Corporation - Philippines
- Larsen & Toubro Limited - India
- Indika Energy - Indonesia
- Oldendorff Carriers - Singapore
- Kapuas Tunggal Persada - Indonesia
- Star Paper Mills Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Bulk Trading Sa - Switzerland
- Antam Resourcindo - Indonesia
- Cement Manufacturers Association - India
- Aditya Birla Group - India
- Coal and Oil Company - UAE
- Vedanta Resources Plc - India
- Jindal Steel & Power Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Rio Tinto Coal - Australia
- LBH Netherlands Bv - Netherlands
- Mercuria Energy - Indonesia
- Baramulti Group, Indonesia
- Medco Energi Mining Internasional
- Kartika Selabumi Mining - Indonesia
- Economic Council, Georgia
- Globalindo Alam Lestari - Indonesia
- Krishnapatnam Port Company Ltd. - India
- PowerSource Philippines DevCo
- ICICI Bank Limited - India
- Meralco Power Generation, Philippines
- Parry Sugars Refinery, India
- Merrill Lynch Commodities Europe
- Uttam Galva Steels Limited - India
- Bhatia International Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Romanian Commodities Exchange
- Dalmia Cement Bharat India
- CIMB Investment Bank - Malaysia
- International Coal Ventures Pvt Ltd - India
- Edison Trading Spa - Italy
- SMG Consultants - Indonesia
- South Luzon Thermal Energy Corporation
- Carbofer General Trading SA - India
- Samtan Co., Ltd - South Korea
- Orica Australia Pty. Ltd.
- Xindia Steels Limited - India
- Independent Power Producers Association of India
- Deloitte Consulting - India
- Sakthi Sugars Limited - India
- Altura Mining Limited, Indonesia
- Singapore Mercantile Exchange
- Kumho Petrochemical, South Korea
- Latin American Coal - Colombia
- Kaltim Prima Coal - Indonesia
- OPG Power Generation Pvt Ltd - India
- Tamil Nadu electricity Board
- Semirara Mining and Power Corporation, Philippines
- Ministry of Mines - Canada
- Aboitiz Power Corporation - Philippines
- Marubeni Corporation - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- GVK Power & Infra Limited - India
- Mjunction Services Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Vizag Seaport Private Limited - India
- Eastern Coal Council - USA
- Salva Resources Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- PTC India Limited - India
- Interocean Group of Companies - India
- Siam City Cement PLC, Thailand
- Vijayanagar Sugar Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- Indo Tambangraya Megah - Indonesia
- Wood Mackenzie - Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Coalindo Energy - Indonesia
- Africa Commodities Group - South Africa
- Indogreen Group - Indonesia
- Semirara Mining Corp, Philippines
- Holcim Trading Pte Ltd - Singapore
- Port Waratah Coal Services - Australia
- Indian Energy Exchange, India
- Savvy Resources Ltd - HongKong
- Renaissance Capital - South Africa
- Binh Thuan Hamico - Vietnam
- Planning Commission, India
- Gujarat Electricity Regulatory Commission - India
- Eastern Energy - Thailand
- Energy Link Ltd, New Zealand
- Wilmar Investment Holdings
- San Jose City I Power Corp, Philippines
- Leighton Contractors Pty Ltd - Australia
- Directorate General of MIneral and Coal - Indonesia
- Kobexindo Tractors - Indoneisa
- Trasteel International SA, Italy
- Sree Jayajothi Cements Limited - India
- Iligan Light & Power Inc, Philippines
- Ambuja Cements Ltd - India
- TeaM Sual Corporation - Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Malabar Cements Ltd - India
- Mercator Lines Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Mintek Dendrill Indonesia
- Power Finance Corporation Ltd., India
- Parliament of New Zealand
- Barasentosa Lestari - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- IEA Clean Coal Centre - UK
- Sical Logistics Limited - India
- Miang Besar Coal Terminal - Indonesia
- Banpu Public Company Limited - Thailand
- Minerals Council of Australia
- Tata Chemicals Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Straits Asia Resources Limited - Singapore
- Global Business Power Corporation, Philippines
- Thai Mozambique Logistica
- SMC Global Power, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Central Java Power - Indonesia
- European Bulk Services B.V. - Netherlands
- Heidelberg Cement - Germany
- Bukit Makmur.PT - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Gujarat Sidhee Cement - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sarangani Energy Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- Commonwealth Bank - Australia
- India Bulls Power Limited - India
- Toyota Tsusho Corporation, Japan
- Australian Commodity Traders Exchange
- Goldman Sachs - Singapore
- ASAPP Information Group - India
- Metalloyd Limited - United Kingdom
- AsiaOL BioFuels Corp., Philippines
- Bhoruka Overseas - Indonesia
- The State Trading Corporation of India Ltd
- Grasim Industreis Ltd - India
- Attock Cement Pakistan Limited
- New Zealand Coal & Carbon
- Madhucon Powers Ltd - India
- Posco Energy - South Korea
- Agrawal Coal Company - India
- MS Steel International - UAE
- Meenaskhi Energy Private Limited - India
- Ind-Barath Power Infra Limited - India
- Bukit Baiduri Energy - Indonesia
- CNBM International Corporation - China
- Chamber of Mines of South Africa
- Australian Coal Association
- Lanco Infratech Ltd - India
- Kepco SPC Power Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- The University of Queensland
- Bharathi Cement Corporation - India
- Simpson Spence & Young - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Cigading International Bulk Terminal - Indonesia
- McConnell Dowell - Australia
- Karbindo Abesyapradhi - Indoneisa
- PetroVietnam Power Coal Import and Supply Company
- Intertek Mineral Services - Indonesia
- Electricity Authority, New Zealand
- Central Electricity Authority - India
- Coastal Gujarat Power Limited - India
- Petron Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Essar Steel Hazira Ltd - India
- Bhushan Steel Limited - India
- White Energy Company Limited
- Energy Development Corp, Philippines
- Alfred C Toepfer International GmbH - Germany
- Riau Bara Harum - Indonesia
- VISA Power Limited - India
- Chettinad Cement Corporation Ltd - India
- Timah Investasi Mineral - Indoneisa
- The Treasury - Australian Government
- Formosa Plastics Group - Taiwan
- Price Waterhouse Coopers - Russia
- London Commodity Brokers - England
- Therma Luzon, Inc, Philippines
- Borneo Indobara - Indonesia
- Directorate Of Revenue Intelligence - India
- Sojitz Corporation - Japan
- Billiton Holdings Pty Ltd - Australia
- Indian Oil Corporation Limited
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Makarim & Taira - Indonesia
- Electricity Generating Authority of Thailand
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