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