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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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- Singapore Mercantile Exchange
- Krishnapatnam Port Company Ltd. - India
- Pendopo Energi Batubara - Indonesia
- Gujarat Sidhee Cement - India
- Indonesian Coal Mining Association
- Antam Resourcindo - Indonesia
- Africa Commodities Group - South Africa
- McConnell Dowell - Australia
- Ceylon Electricity Board - Sri Lanka
- Kumho Petrochemical, South Korea
- Meenaskhi Energy Private Limited - India
- Makarim & Taira - Indonesia
- Savvy Resources Ltd - HongKong
- CIMB Investment Bank - Malaysia
- PNOC Exploration Corporation - Philippines
- Karbindo Abesyapradhi - Indoneisa
- Commonwealth Bank - Australia
- Medco Energi Mining Internasional
- Power Finance Corporation Ltd., India
- Rio Tinto Coal - Australia
- Energy Link Ltd, New Zealand
- Altura Mining Limited, Indonesia
- The University of Queensland
- Bukit Baiduri Energy - Indonesia
- Standard Chartered Bank - UAE
- Parry Sugars Refinery, India
- Minerals Council of Australia
- Marubeni Corporation - India
- Aditya Birla Group - India
- Bukit Asam (Persero) Tbk - Indonesia
- Australian Commodity Traders Exchange
- AsiaOL BioFuels Corp., Philippines
- Ministry of Mines - Canada
- Gujarat Electricity Regulatory Commission - India
- Salva Resources Pvt Ltd - India
- India Bulls Power Limited - India
- Attock Cement Pakistan Limited
- Parliament of New Zealand
- CNBM International Corporation - China
- Jorong Barutama Greston.PT - Indonesia
- Bulk Trading Sa - Switzerland
- Star Paper Mills Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Semirara Mining Corp, Philippines
- GVK Power & Infra Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- LBH Netherlands Bv - Netherlands
- European Bulk Services B.V. - Netherlands
- Chettinad Cement Corporation Ltd - India
- Simpson Spence & Young - Indonesia
- ICICI Bank Limited - India
- OPG Power Generation Pvt Ltd - India
- Dalmia Cement Bharat India
- Electricity Authority, New Zealand
- Neyveli Lignite Corporation Ltd, - India
- PetroVietnam Power Coal Import and Supply Company
- Global Business Power Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- TeaM Sual Corporation - Philippines
- Wilmar Investment Holdings
- Madhucon Powers Ltd - India
- Price Waterhouse Coopers - Russia
- Global Green Power PLC Corporation, Philippines
- SMG Consultants - Indonesia
- Bukit Makmur.PT - Indonesia
- Port Waratah Coal Services - Australia
- Central Electricity Authority - India
- Global Coal Blending Company Limited - Australia
- Jindal Steel & Power Ltd - India
- Indika Energy - Indonesia
- Videocon Industries ltd - India
- Holcim Trading Pte Ltd - Singapore
- Formosa Plastics Group - Taiwan
- Orica Australia Pty. Ltd.
- White Energy Company Limited
- Kaltim Prima Coal - Indonesia
- New Zealand Coal & Carbon
- Coalindo Energy - Indonesia
- Uttam Galva Steels Limited - India
- Manunggal Multi Energi - Indonesia
- Therma Luzon, Inc, Philippines
- Energy Development Corp, Philippines
- Bhatia International Limited - India
- Thiess Contractors Indonesia
- Indogreen Group - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- Globalindo Alam Lestari - Indonesia
- Economic Council, Georgia
- ASAPP Information Group - India
- Edison Trading Spa - Italy
- Miang Besar Coal Terminal - Indonesia
- Mintek Dendrill Indonesia
- Essar Steel Hazira Ltd - India
- Georgia Ports Authority, United States
- Tata Chemicals Ltd - India
- San Jose City I Power Corp, Philippines
- SMC Global Power, Philippines
- Carbofer General Trading SA - India
- Sree Jayajothi Cements Limited - India
- Banpu Public Company Limited - Thailand
- Indo Tambangraya Megah - Indonesia
- Cement Manufacturers Association - India
- Toyota Tsusho Corporation, Japan
- Bangladesh Power Developement Board
- Straits Asia Resources Limited - Singapore
- Electricity Generating Authority of Thailand
- PTC India Limited - India
- Vizag Seaport Private Limited - India
- Metalloyd Limited - United Kingdom
- Intertek Mineral Services - Indonesia
- Jaiprakash Power Ventures ltd
- Asmin Koalindo Tuhup - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Maheswari Brothers Coal Limited - India
- Kepco SPC Power Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Siam City Cement PLC, Thailand
- Mjunction Services Limited - India
- Romanian Commodities Exchange
- Merrill Lynch Commodities Europe
- Borneo Indobara - Indonesia
- Anglo American - United Kingdom
- Billiton Holdings Pty Ltd - Australia
- Coal and Oil Company - UAE
- Pipit Mutiara Jaya. PT, Indonesia
- Riau Bara Harum - Indonesia
- IHS Mccloskey Coal Group - USA
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Timah Investasi Mineral - Indoneisa
- Goldman Sachs - Singapore
- IEA Clean Coal Centre - UK
- Sinarmas Energy and Mining - Indonesia
- Malabar Cements Ltd - India
- Oldendorff Carriers - Singapore
- GMR Energy Limited - India
- Sakthi Sugars Limited - India
- Kartika Selabumi Mining - Indonesia
- GAC Shipping (India) Pvt Ltd
- Eastern Energy - Thailand
- International Coal Ventures Pvt Ltd - India
- Baramulti Group, Indonesia
- Bhoruka Overseas - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Kalimantan Lumbung Energi - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- SN Aboitiz Power Inc, Philippines
- Trasteel International SA, Italy
- Leighton Contractors Pty Ltd - Australia
- Ministry of Transport, Egypt
- Indian Energy Exchange, India
- Cigading International Bulk Terminal - Indonesia
- Ministry of Finance - Indonesia
- Tamil Nadu electricity Board
- Central Java Power - Indonesia
- Bayan Resources Tbk. - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Larsen & Toubro Limited - India
- Iligan Light & Power Inc, Philippines
- Coastal Gujarat Power Limited - India
- Binh Thuan Hamico - Vietnam
- Ind-Barath Power Infra Limited - India
- Siam City Cement - Thailand
- Mercuria Energy - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Sojitz Corporation - Japan
- Xindia Steels Limited - India
- Mercator Lines Limited - India
- The Treasury - Australian Government
- Agrawal Coal Company - India
- Bharathi Cement Corporation - India
- Heidelberg Cement - Germany
- Kohat Cement Company Ltd. - Pakistan
- Thai Mozambique Logistica
- Planning Commission, India
- Directorate General of MIneral and Coal - Indonesia
- Barasentosa Lestari - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Interocean Group of Companies - India
- The State Trading Corporation of India Ltd
- South Luzon Thermal Energy Corporation
- London Commodity Brokers - England
- Lanco Infratech Ltd - India
- Indian Oil Corporation Limited
- Maharashtra Electricity Regulatory Commission - India
- Latin American Coal - Colombia
- Ambuja Cements Ltd - India
- Karaikal Port Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- VISA Power Limited - India
- Vedanta Resources Plc - India
- PowerSource Philippines DevCo
- Eastern Coal Council - USA
- Sindya Power Generating Company Private Ltd
- GN Power Mariveles Coal Plant, Philippines
- Grasim Industreis Ltd - India
- Sical Logistics Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- Chamber of Mines of South Africa
- Petron Corporation, Philippines
- Renaissance Capital - South Africa
- Kobexindo Tractors - Indoneisa
- Offshore Bulk Terminal Pte Ltd, Singapore
- Orica Mining Services - Indonesia
- Deloitte Consulting - India
- Bhushan Steel Limited - India
- Independent Power Producers Association of India
- Petrochimia International Co. Ltd.- Taiwan
- Meralco Power Generation, Philippines
- Posco Energy - South Korea
- Wood Mackenzie - Singapore
- Australian Coal Association
- Sarangani Energy Corporation, Philippines
- MS Steel International - UAE
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