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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$500 million each year.
Churchill hired corporate heavyweight Credit Suisse back in April 2010 to complete a strategic review and help it evaluate the various options for East Kutai’s project financing.
Source: Proactive Investors (by Sergei Balashov)
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Wednesday, 09 March 11
INDONESIA HAS SET THE MARCH 2011 INDONESIAN COAL REFERENCE PRICE FOR THERMAL COAL AT US$ 122.43 PER TON
COALspot.com - Indonesia’s Ministry of Energy and Mineral Resources has set the March 2011 Indonesian Coal Reference Price for thermal c ...
Tuesday, 08 March 11
US$ 8 BILLION WORTH OF INFRASTRUCTURE PROJECTS IN PIPELINE IN INDONESIA - WOOD MACKENZIE
India’s Increasing Demand for Thermal Coal Cannot Be Satisfied Without Emerging Coal Areas in Indonesia - Wood Mackenzie
At Coa ...
Tuesday, 08 March 11
INDIA'S VEDANTA TO ACQUIRE COAL MINES IN OVERSEAS
COALspot.com - India's Vedanta group is also looking at long-term off take agreements and possible acquire of coal mines overseas, the official sai ...
Tuesday, 08 March 11
MINERS SAY VALUE-ADDED LAW WILL HURT IN THE LONG RUN - THE JAKARTA GLOBE
The Jakarta Globe reported that, Government plans to require miners to give added value to their exported commodities could end up costing the count ...
Tuesday, 08 March 11
THE PANAMAX MARKET THIS WEEK FIRMED UP - BRS
Underlining the unpredictability of the current market, rates for all dry bulk segments swung up again last week. Stronger exports out of South Amer ...
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- Bayan Resources Tbk. - Indonesia
- McConnell Dowell - Australia
- Timah Investasi Mineral - Indoneisa
- Sical Logistics Limited - India
- Romanian Commodities Exchange
- Global Business Power Corporation, Philippines
- Attock Cement Pakistan Limited
- Tamil Nadu electricity Board
- Thai Mozambique Logistica
- Sakthi Sugars Limited - India
- Kideco Jaya Agung - Indonesia
- Larsen & Toubro Limited - India
- Leighton Contractors Pty Ltd - Australia
- Marubeni Corporation - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Orica Australia Pty. Ltd.
- Bukit Makmur.PT - Indonesia
- Parliament of New Zealand
- Jindal Steel & Power Ltd - India
- Ministry of Mines - Canada
- Standard Chartered Bank - UAE
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Jaiprakash Power Ventures ltd
- Rio Tinto Coal - Australia
- CIMB Investment Bank - Malaysia
- Baramulti Group, Indonesia
- Globalindo Alam Lestari - Indonesia
- Maheswari Brothers Coal Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- India Bulls Power Limited - India
- Edison Trading Spa - Italy
- Wilmar Investment Holdings
- Kepco SPC Power Corporation, Philippines
- Indian Oil Corporation Limited
- Agrawal Coal Company - India
- Karaikal Port Pvt Ltd - India
- Thiess Contractors Indonesia
- Sree Jayajothi Cements Limited - India
- Sarangani Energy Corporation, Philippines
- Sojitz Corporation - Japan
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Semirara Mining and Power Corporation, Philippines
- San Jose City I Power Corp, Philippines
- SMC Global Power, Philippines
- Indo Tambangraya Megah - Indonesia
- Aboitiz Power Corporation - Philippines
- Ind-Barath Power Infra Limited - India
- Parry Sugars Refinery, India
- Bangladesh Power Developement Board
- Formosa Plastics Group - Taiwan
- Vijayanagar Sugar Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- OPG Power Generation Pvt Ltd - India
- Altura Mining Limited, Indonesia
- Gujarat Sidhee Cement - India
- Savvy Resources Ltd - HongKong
- Samtan Co., Ltd - South Korea
- Neyveli Lignite Corporation Ltd, - India
- Alfred C Toepfer International GmbH - Germany
- Deloitte Consulting - India
- Meralco Power Generation, Philippines
- IHS Mccloskey Coal Group - USA
- TeaM Sual Corporation - Philippines
- Singapore Mercantile Exchange
- Meenaskhi Energy Private Limited - India
- Xindia Steels Limited - India
- Straits Asia Resources Limited - Singapore
- International Coal Ventures Pvt Ltd - India
- London Commodity Brokers - England
- Bharathi Cement Corporation - India
- Georgia Ports Authority, United States
- Heidelberg Cement - Germany
- Petron Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Chamber of Mines of South Africa
- Bhushan Steel Limited - India
- Vedanta Resources Plc - India
- Metalloyd Limited - United Kingdom
- Oldendorff Carriers - Singapore
- GAC Shipping (India) Pvt Ltd
- CNBM International Corporation - China
- GMR Energy Limited - India
- Ministry of Finance - Indonesia
- Siam City Cement - Thailand
- VISA Power Limited - India
- European Bulk Services B.V. - Netherlands
- Chettinad Cement Corporation Ltd - India
- Bulk Trading Sa - Switzerland
- IEA Clean Coal Centre - UK
- Mercuria Energy - Indonesia
- Banpu Public Company Limited - Thailand
- Commonwealth Bank - Australia
- Merrill Lynch Commodities Europe
- Africa Commodities Group - South Africa
- Coal and Oil Company - UAE
- Makarim & Taira - Indonesia
- Kartika Selabumi Mining - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Cement Manufacturers Association - India
- Rashtriya Ispat Nigam Limited - India
- Gujarat Electricity Regulatory Commission - India
- Medco Energi Mining Internasional
- Eastern Coal Council - USA
- Gujarat Mineral Development Corp Ltd - India
- Barasentosa Lestari - Indonesia
- Ambuja Cements Ltd - India
- ICICI Bank Limited - India
- Cigading International Bulk Terminal - Indonesia
- SN Aboitiz Power Inc, Philippines
- Indogreen Group - Indonesia
- Bukit Baiduri Energy - Indonesia
- Borneo Indobara - Indonesia
- Electricity Authority, New Zealand
- Price Waterhouse Coopers - Russia
- Videocon Industries ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Vizag Seaport Private Limited - India
- Posco Energy - South Korea
- PowerSource Philippines DevCo
- Mjunction Services Limited - India
- Latin American Coal - Colombia
- Iligan Light & Power Inc, Philippines
- Global Coal Blending Company Limited - Australia
- Goldman Sachs - Singapore
- PNOC Exploration Corporation - Philippines
- Australian Coal Association
- AsiaOL BioFuels Corp., Philippines
- Mintek Dendrill Indonesia
- Anglo American - United Kingdom
- Planning Commission, India
- Indonesian Coal Mining Association
- Bhatia International Limited - India
- Mercator Lines Limited - India
- South Luzon Thermal Energy Corporation
- TNB Fuel Sdn Bhd - Malaysia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Toyota Tsusho Corporation, Japan
- SMG Consultants - Indonesia
- The State Trading Corporation of India Ltd
- PTC India Limited - India
- Port Waratah Coal Services - Australia
- Electricity Generating Authority of Thailand
- Interocean Group of Companies - India
- Trasteel International SA, Italy
- Ceylon Electricity Board - Sri Lanka
- Tata Chemicals Ltd - India
- LBH Netherlands Bv - Netherlands
- Manunggal Multi Energi - Indonesia
- Kumho Petrochemical, South Korea
- Carbofer General Trading SA - India
- Directorate General of MIneral and Coal - Indonesia
- Energy Link Ltd, New Zealand
- Essar Steel Hazira Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- White Energy Company Limited
- GVK Power & Infra Limited - India
- Aditya Birla Group - India
- Holcim Trading Pte Ltd - Singapore
- MS Steel International - UAE
- Indian Energy Exchange, India
- Economic Council, Georgia
- Independent Power Producers Association of India
- Eastern Energy - Thailand
- Asmin Koalindo Tuhup - Indonesia
- ASAPP Information Group - India
- Pendopo Energi Batubara - Indonesia
- The University of Queensland
- Uttam Galva Steels Limited - India
- Intertek Mineral Services - Indonesia
- Siam City Cement PLC, Thailand
- PetroVietnam Power Coal Import and Supply Company
- Salva Resources Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Malabar Cements Ltd - India
- Orica Mining Services - Indonesia
- The Treasury - Australian Government
- Bhoruka Overseas - Indonesia
- Indika Energy - Indonesia
- Directorate Of Revenue Intelligence - India
- Energy Development Corp, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Semirara Mining Corp, Philippines
- Therma Luzon, Inc, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Wood Mackenzie - Singapore
- New Zealand Coal & Carbon
- Billiton Holdings Pty Ltd - Australia
- Lanco Infratech Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Antam Resourcindo - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Kobexindo Tractors - Indoneisa
- Global Green Power PLC Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Coastal Gujarat Power Limited - India
- Star Paper Mills Limited - India
- Ministry of Transport, Egypt
- Minerals Council of Australia
- Sindya Power Generating Company Private Ltd
- Renaissance Capital - South Africa
- Binh Thuan Hamico - Vietnam
- Madhucon Powers Ltd - India
- Simpson Spence & Young - Indonesia
- Kaltim Prima Coal - Indonesia
- Coalindo Energy - Indonesia
- Power Finance Corporation Ltd., India
- Krishnapatnam Port Company Ltd. - India
- Dalmia Cement Bharat India
- Central Java Power - Indonesia
- Riau Bara Harum - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Australian Commodity Traders Exchange
- Kohat Cement Company Ltd. - Pakistan
- Central Electricity Authority - India
- Grasim Industreis Ltd - India
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