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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$500 million each year.
Churchill hired corporate heavyweight Credit Suisse back in April 2010 to complete a strategic review and help it evaluate the various options for East Kutai’s project financing.
Source: Proactive Investors (by Sergei Balashov)
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Thursday, 10 February 11
SUPRA RATES IMPROVED A LITTLE OVER US$ 6K BSS N. CHINA DELIVERY FOR INDO-INDIA AND THAILAND ROUNDS - FEARNBULK
Handy
Atl is still weak with little fresh enquiry and an accumulation of spot tonnage.Owners are reluctant to send tonnage thru Suez due to uncert ...
Thursday, 10 February 11
BUKIT ASAM EXPECTS ABOVE RP 3 TRIO PROFIT
The state-owned coal miner PT Tambang Bukit Asam Tbk (PTBA) expects to reach 2011's net profit above Rp 3 trillion (US$ 336,322,568) from above Rp2 ...
Wednesday, 09 February 11
INDONESIA ALLOWED 60 COAL TRADING COMPANIES TO EXPORT COAL
COALspot.com - A temporary ban imposed on coal traders in January has lifted this week. As of today 60coal trading companies were allowed to resume ...
Tuesday, 08 February 11
INDIA'S SIMHAPURU TARGETS S.AFRICAN COAL - ECONOMIC TIMES
Economic Times reported that, India's Simhapuri Energy , a unit of the Madhucon Group , wants to buy new or existing collieries in South Africa fro ...
Tuesday, 08 February 11
PUSTAKA JAYA PALU POWER LOOKING FOR 5800 GAD COAL
COALspot.com - According to market information, PT Pustaka Jaya Palu Power, a power plant operator of the Mpanau plant, Palu, Sulawesi has invited c ...
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- Cement Manufacturers Association - India
- India Bulls Power Limited - India
- Kepco SPC Power Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Georgia Ports Authority, United States
- PowerSource Philippines DevCo
- CIMB Investment Bank - Malaysia
- Bulk Trading Sa - Switzerland
- Directorate Of Revenue Intelligence - India
- TNB Fuel Sdn Bhd - Malaysia
- Maharashtra Electricity Regulatory Commission - India
- Savvy Resources Ltd - HongKong
- Krishnapatnam Port Company Ltd. - India
- PTC India Limited - India
- Ind-Barath Power Infra Limited - India
- Cigading International Bulk Terminal - Indonesia
- Coal and Oil Company - UAE
- Price Waterhouse Coopers - Russia
- Orica Australia Pty. Ltd.
- Energy Link Ltd, New Zealand
- Pendopo Energi Batubara - Indonesia
- Straits Asia Resources Limited - Singapore
- Global Green Power PLC Corporation, Philippines
- VISA Power Limited - India
- Central Electricity Authority - India
- Thiess Contractors Indonesia
- IHS Mccloskey Coal Group - USA
- Australian Coal Association
- Bahari Cakrawala Sebuku - Indonesia
- Gujarat Sidhee Cement - India
- SMG Consultants - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Bank of Tokyo Mitsubishi UFJ Ltd
- Semirara Mining Corp, Philippines
- Salva Resources Pvt Ltd - India
- Mintek Dendrill Indonesia
- Petron Corporation, Philippines
- The Treasury - Australian Government
- Wilmar Investment Holdings
- Samtan Co., Ltd - South Korea
- AsiaOL BioFuels Corp., Philippines
- GMR Energy Limited - India
- Deloitte Consulting - India
- Parliament of New Zealand
- Binh Thuan Hamico - Vietnam
- San Jose City I Power Corp, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Parry Sugars Refinery, India
- MS Steel International - UAE
- Coastal Gujarat Power Limited - India
- Standard Chartered Bank - UAE
- Independent Power Producers Association of India
- Indo Tambangraya Megah - Indonesia
- GAC Shipping (India) Pvt Ltd
- Power Finance Corporation Ltd., India
- Bangladesh Power Developement Board
- Ministry of Finance - Indonesia
- Metalloyd Limited - United Kingdom
- International Coal Ventures Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Kobexindo Tractors - Indoneisa
- Barasentosa Lestari - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Agrawal Coal Company - India
- White Energy Company Limited
- Interocean Group of Companies - India
- New Zealand Coal & Carbon
- Larsen & Toubro Limited - India
- Star Paper Mills Limited - India
- Carbofer General Trading SA - India
- Grasim Industreis Ltd - India
- Thai Mozambique Logistica
- Goldman Sachs - Singapore
- Bhushan Steel Limited - India
- Vedanta Resources Plc - India
- Bharathi Cement Corporation - India
- Asmin Koalindo Tuhup - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Indonesian Coal Mining Association
- Attock Cement Pakistan Limited
- Sindya Power Generating Company Private Ltd
- Indogreen Group - Indonesia
- Aditya Birla Group - India
- Port Waratah Coal Services - Australia
- Alfred C Toepfer International GmbH - Germany
- South Luzon Thermal Energy Corporation
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Coalindo Energy - Indonesia
- Baramulti Group, Indonesia
- Altura Mining Limited, Indonesia
- Vizag Seaport Private Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Xindia Steels Limited - India
- Karbindo Abesyapradhi - Indoneisa
- OPG Power Generation Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- Central Java Power - Indonesia
- Commonwealth Bank - Australia
- Manunggal Multi Energi - Indonesia
- Toyota Tsusho Corporation, Japan
- Antam Resourcindo - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Anglo American - United Kingdom
- Intertek Mineral Services - Indonesia
- Kapuas Tunggal Persada - Indonesia
- McConnell Dowell - Australia
- Miang Besar Coal Terminal - Indonesia
- TeaM Sual Corporation - Philippines
- Madhucon Powers Ltd - India
- Riau Bara Harum - Indonesia
- The State Trading Corporation of India Ltd
- Indika Energy - Indonesia
- Siam City Cement PLC, Thailand
- Indian Energy Exchange, India
- Romanian Commodities Exchange
- Kartika Selabumi Mining - Indonesia
- Simpson Spence & Young - Indonesia
- Globalindo Alam Lestari - Indonesia
- Medco Energi Mining Internasional
- Bukit Asam (Persero) Tbk - Indonesia
- Eastern Energy - Thailand
- Ministry of Transport, Egypt
- The University of Queensland
- Indian Oil Corporation Limited
- Electricity Authority, New Zealand
- Meralco Power Generation, Philippines
- Karaikal Port Pvt Ltd - India
- London Commodity Brokers - England
- European Bulk Services B.V. - Netherlands
- Borneo Indobara - Indonesia
- Iligan Light & Power Inc, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Bukit Makmur.PT - Indonesia
- Kumho Petrochemical, South Korea
- Lanco Infratech Ltd - India
- IEA Clean Coal Centre - UK
- Videocon Industries ltd - India
- Singapore Mercantile Exchange
- Eastern Coal Council - USA
- Minerals Council of Australia
- Mercuria Energy - Indonesia
- Tata Chemicals Ltd - India
- Planning Commission, India
- Holcim Trading Pte Ltd - Singapore
- Formosa Plastics Group - Taiwan
- Kaltim Prima Coal - Indonesia
- Jindal Steel & Power Ltd - India
- Kideco Jaya Agung - Indonesia
- Electricity Generating Authority of Thailand
- Merrill Lynch Commodities Europe
- PNOC Exploration Corporation - Philippines
- Wood Mackenzie - Singapore
- Sarangani Energy Corporation, Philippines
- Energy Development Corp, Philippines
- Dalmia Cement Bharat India
- Bayan Resources Tbk. - Indonesia
- Essar Steel Hazira Ltd - India
- Chamber of Mines of South Africa
- Uttam Galva Steels Limited - India
- LBH Netherlands Bv - Netherlands
- Chettinad Cement Corporation Ltd - India
- Tamil Nadu electricity Board
- Sree Jayajothi Cements Limited - India
- ICICI Bank Limited - India
- Trasteel International SA, Italy
- Oldendorff Carriers - Singapore
- Leighton Contractors Pty Ltd - Australia
- Rashtriya Ispat Nigam Limited - India
- Ambuja Cements Ltd - India
- CNBM International Corporation - China
- Global Coal Blending Company Limited - Australia
- Maheswari Brothers Coal Limited - India
- GN Power Mariveles Coal Plant, Philippines
- SN Aboitiz Power Inc, Philippines
- Meenaskhi Energy Private Limited - India
- Bhatia International Limited - India
- Billiton Holdings Pty Ltd - Australia
- PetroVietnam Power Coal Import and Supply Company
- Posco Energy - South Korea
- Mercator Lines Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Makarim & Taira - Indonesia
- Economic Council, Georgia
- Timah Investasi Mineral - Indoneisa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sakthi Sugars Limited - India
- Edison Trading Spa - Italy
- Mjunction Services Limited - India
- Australian Commodity Traders Exchange
- ASAPP Information Group - India
- Sical Logistics Limited - India
- Sinarmas Energy and Mining - Indonesia
- Malabar Cements Ltd - India
- Latin American Coal - Colombia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sojitz Corporation - Japan
- Orica Mining Services - Indonesia
- Heidelberg Cement - Germany
- Renaissance Capital - South Africa
- SMC Global Power, Philippines
- Africa Commodities Group - South Africa
- GVK Power & Infra Limited - India
- Banpu Public Company Limited - Thailand
- Marubeni Corporation - India
- Siam City Cement - Thailand
- Bukit Baiduri Energy - Indonesia
- Global Business Power Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Ministry of Mines - Canada
- Rio Tinto Coal - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Gujarat Electricity Regulatory Commission - India
- Aboitiz Power Corporation - Philippines
- Bhoruka Overseas - Indonesia
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