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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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Tuesday, 08 February 11
BAYAN, KANGAROO EXTEND DUE DILIGENCE
Coal miner controlled by businessman Dato' Low Tuck Kwong PT Bayan Resources Tbk (BYAN) and Australia-listed coal company Kangaroo Resources Limite ...
Tuesday, 08 February 11
DRY BULK: IS THE TIDE TURNING? - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
In what could be perceived as a change of market sentiment for the better, the dry bulk industry’s benchmark, the Baltic Dry Index (BDI) poste ...
Monday, 07 February 11
THE INDONESIAN COAL REFERENCE PRICE HAS JUMPED 13.03 PERCENT IN FEBRUARY 2011
COALspot.com - Indonesia’s Ministry of Energy and Mineral Resources has set the February 2011 Indonesian Coal Reference Price for therma ...
Monday, 07 February 11
COAL PRICES ON RISE: DEMAND FROM INDIA AND CHINA - ANALYZED SUNIL K KUMBHAT
INDONESIA IS HEART OF ASIAN COAL BOOM
COALspot.com - Rising demand of Coal from India and China, coupled with global financial recovery, is driv ...
Monday, 07 February 11
RICHARDS BAY COAL TERMINAL EXPORTS SURGE, BUOYED BY ECONOMIC DEVELOPMENT IN CHINA AND INDIA
COALspot.com - Richards Bay Coal Terminal (RBCT) announced today that 2010 exports have exceeded the last two years’ performance, said in a re ...
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- Iligan Light & Power Inc, Philippines
- Economic Council, Georgia
- Siam City Cement PLC, Thailand
- Kumho Petrochemical, South Korea
- Kalimantan Lumbung Energi - Indonesia
- Therma Luzon, Inc, Philippines
- Manunggal Multi Energi - Indonesia
- Agrawal Coal Company - India
- Eastern Coal Council - USA
- Banpu Public Company Limited - Thailand
- Indo Tambangraya Megah - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Indian Oil Corporation Limited
- Gujarat Sidhee Cement - India
- Ceylon Electricity Board - Sri Lanka
- Videocon Industries ltd - India
- Bukit Baiduri Energy - Indonesia
- Savvy Resources Ltd - HongKong
- White Energy Company Limited
- Altura Mining Limited, Indonesia
- The State Trading Corporation of India Ltd
- Meenaskhi Energy Private Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Parliament of New Zealand
- Petrochimia International Co. Ltd.- Taiwan
- Independent Power Producers Association of India
- Mintek Dendrill Indonesia
- Minerals Council of Australia
- Singapore Mercantile Exchange
- Ministry of Finance - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Formosa Plastics Group - Taiwan
- OPG Power Generation Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Merrill Lynch Commodities Europe
- GVK Power & Infra Limited - India
- Global Green Power PLC Corporation, Philippines
- Africa Commodities Group - South Africa
- Kobexindo Tractors - Indoneisa
- PNOC Exploration Corporation - Philippines
- Electricity Authority, New Zealand
- Bulk Trading Sa - Switzerland
- Global Coal Blending Company Limited - Australia
- Karaikal Port Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Intertek Mineral Services - Indonesia
- Central Electricity Authority - India
- Holcim Trading Pte Ltd - Singapore
- Straits Asia Resources Limited - Singapore
- Rio Tinto Coal - Australia
- Directorate General of MIneral and Coal - Indonesia
- PTC India Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Coalindo Energy - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Trasteel International SA, Italy
- European Bulk Services B.V. - Netherlands
- Grasim Industreis Ltd - India
- Ministry of Mines - Canada
- Malabar Cements Ltd - India
- Bhushan Steel Limited - India
- Oldendorff Carriers - Singapore
- Indogreen Group - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Renaissance Capital - South Africa
- ICICI Bank Limited - India
- Essar Steel Hazira Ltd - India
- Petron Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- International Coal Ventures Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- Bukit Makmur.PT - Indonesia
- Latin American Coal - Colombia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- India Bulls Power Limited - India
- Power Finance Corporation Ltd., India
- Chamber of Mines of South Africa
- Bhoruka Overseas - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Edison Trading Spa - Italy
- Energy Development Corp, Philippines
- London Commodity Brokers - England
- Bharathi Cement Corporation - India
- McConnell Dowell - Australia
- Goldman Sachs - Singapore
- SN Aboitiz Power Inc, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kohat Cement Company Ltd. - Pakistan
- Star Paper Mills Limited - India
- Riau Bara Harum - Indonesia
- Parry Sugars Refinery, India
- Coal and Oil Company - UAE
- Jindal Steel & Power Ltd - India
- Globalindo Alam Lestari - Indonesia
- Port Waratah Coal Services - Australia
- Kapuas Tunggal Persada - Indonesia
- Wood Mackenzie - Singapore
- Jaiprakash Power Ventures ltd
- IHS Mccloskey Coal Group - USA
- Anglo American - United Kingdom
- Simpson Spence & Young - Indonesia
- Bhatia International Limited - India
- Mercator Lines Limited - India
- Semirara Mining Corp, Philippines
- Deloitte Consulting - India
- MS Steel International - UAE
- Dalmia Cement Bharat India
- Tata Chemicals Ltd - India
- Makarim & Taira - Indonesia
- Heidelberg Cement - Germany
- Sojitz Corporation - Japan
- Central Java Power - Indonesia
- Thai Mozambique Logistica
- Sindya Power Generating Company Private Ltd
- Neyveli Lignite Corporation Ltd, - India
- Jorong Barutama Greston.PT - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Indian Energy Exchange, India
- Cement Manufacturers Association - India
- Baramulti Group, Indonesia
- Sree Jayajothi Cements Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- TeaM Sual Corporation - Philippines
- Bangladesh Power Developement Board
- Attock Cement Pakistan Limited
- SMC Global Power, Philippines
- Australian Commodity Traders Exchange
- Salva Resources Pvt Ltd - India
- Indonesian Coal Mining Association
- Medco Energi Mining Internasional
- Standard Chartered Bank - UAE
- Marubeni Corporation - India
- Ministry of Transport, Egypt
- South Luzon Thermal Energy Corporation
- Energy Link Ltd, New Zealand
- Orica Mining Services - Indonesia
- Mjunction Services Limited - India
- San Jose City I Power Corp, Philippines
- Aditya Birla Group - India
- Coastal Gujarat Power Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Tamil Nadu electricity Board
- Chettinad Cement Corporation Ltd - India
- GMR Energy Limited - India
- New Zealand Coal & Carbon
- Ambuja Cements Ltd - India
- Wilmar Investment Holdings
- Miang Besar Coal Terminal - Indonesia
- LBH Netherlands Bv - Netherlands
- Leighton Contractors Pty Ltd - Australia
- Borneo Indobara - Indonesia
- Kaltim Prima Coal - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- CIMB Investment Bank - Malaysia
- Indika Energy - Indonesia
- IEA Clean Coal Centre - UK
- Price Waterhouse Coopers - Russia
- Mercuria Energy - Indonesia
- Antam Resourcindo - Indonesia
- Xindia Steels Limited - India
- Ind-Barath Power Infra Limited - India
- Carbofer General Trading SA - India
- Samtan Co., Ltd - South Korea
- Georgia Ports Authority, United States
- CNBM International Corporation - China
- GAC Shipping (India) Pvt Ltd
- Bukit Asam (Persero) Tbk - Indonesia
- Maheswari Brothers Coal Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Global Business Power Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- Uttam Galva Steels Limited - India
- ASAPP Information Group - India
- Binh Thuan Hamico - Vietnam
- Sinarmas Energy and Mining - Indonesia
- Planning Commission, India
- Interocean Group of Companies - India
- The University of Queensland
- Billiton Holdings Pty Ltd - Australia
- Barasentosa Lestari - Indonesia
- Sical Logistics Limited - India
- Australian Coal Association
- TNB Fuel Sdn Bhd - Malaysia
- VISA Power Limited - India
- Romanian Commodities Exchange
- Thiess Contractors Indonesia
- Bayan Resources Tbk. - Indonesia
- Vizag Seaport Private Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kideco Jaya Agung - Indonesia
- Siam City Cement - Thailand
- Gujarat Electricity Regulatory Commission - India
- Madhucon Powers Ltd - India
- Kartika Selabumi Mining - Indonesia
- Timah Investasi Mineral - Indoneisa
- Meralco Power Generation, Philippines
- Posco Energy - South Korea
- Vedanta Resources Plc - India
- GN Power Mariveles Coal Plant, Philippines
- Larsen & Toubro Limited - India
- Sakthi Sugars Limited - India
- Toyota Tsusho Corporation, Japan
- Eastern Energy - Thailand
- Commonwealth Bank - Australia
- PowerSource Philippines DevCo
- Kepco SPC Power Corporation, Philippines
- Semirara Mining and Power Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Lanco Infratech Ltd - India
- The Treasury - Australian Government
- Metalloyd Limited - United Kingdom
- Electricity Generating Authority of Thailand
- Sarangani Energy Corporation, Philippines
- Orica Australia Pty. Ltd.
- Pendopo Energi Batubara - Indonesia
- SMG Consultants - Indonesia
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