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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$500 million each year.
Churchill hired corporate heavyweight Credit Suisse back in April 2010 to complete a strategic review and help it evaluate the various options for East Kutai’s project financing.
Source: Proactive Investors (by Sergei Balashov)
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Monday, 07 February 11
RBCT SHIPPED 28.67 PERCENT LESS COAL IN JANUARY
COALspot.com - Richards Bay Coal Terminal (RBCT) is the single largest export coal terminal in the world, shipped 4,389,925 MT of coal in January 20 ...
Sunday, 06 February 11
THE PANAMAX & SUPRAMAX FUTURES FOR 2011-2013 WAS AT AROUND US$ 16,500 & US$ 15,000 PER DAY RESPECTIVELY
COALspot.com - With the Chinese new year holidays this week, the market has been fairly quite as expected.
The BDI saw a bigger drop compared to ...
Saturday, 05 February 11
INDONESIAN ENERGY MINISTER HAS SIGNED A DECREE FOR COAL TRANSPORTATION PERMITS ON FRIDAY
COALspot.com - Minister of Energy, Darwin Minister Saleh said, that, he had signed a decree for transportation and sale of coal, which was the ...
Saturday, 05 February 11
ANCHORAGE LOADING POINT MOVED TO MUARA JAWA
COALspot.com - The Ministry of Transportation Republic Indonesia has announced that, the loading point at Muara Berau, East kalimantan h ...
Friday, 04 February 11
PERTAMINA DENIES KAREN AGUSTIAWAN RESIGNS FROM PERTAMINA
COALspot.com - The President Director of PT Pertamina, Karen Agustiawan reportedly will replace Darwin Saleh as Minister of Energy and Mineral Resou ...
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- Asmin Koalindo Tuhup - Indonesia
- SN Aboitiz Power Inc, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Ministry of Finance - Indonesia
- Energy Development Corp, Philippines
- Marubeni Corporation - India
- Indonesian Coal Mining Association
- Bangladesh Power Developement Board
- Deloitte Consulting - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bhatia International Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Kapuas Tunggal Persada - Indonesia
- Bulk Trading Sa - Switzerland
- Therma Luzon, Inc, Philippines
- Wilmar Investment Holdings
- Straits Asia Resources Limited - Singapore
- Semirara Mining and Power Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Heidelberg Cement - Germany
- Minerals Council of Australia
- GN Power Mariveles Coal Plant, Philippines
- GMR Energy Limited - India
- Kobexindo Tractors - Indoneisa
- Singapore Mercantile Exchange
- Coalindo Energy - Indonesia
- Aditya Birla Group - India
- Bahari Cakrawala Sebuku - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Independent Power Producers Association of India
- Kalimantan Lumbung Energi - Indonesia
- PNOC Exploration Corporation - Philippines
- Ministry of Mines - Canada
- Port Waratah Coal Services - Australia
- Bharathi Cement Corporation - India
- Georgia Ports Authority, United States
- Makarim & Taira - Indonesia
- Videocon Industries ltd - India
- Maheswari Brothers Coal Limited - India
- Bayan Resources Tbk. - Indonesia
- Indogreen Group - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Altura Mining Limited, Indonesia
- ASAPP Information Group - India
- Bukit Baiduri Energy - Indonesia
- International Coal Ventures Pvt Ltd - India
- Lanco Infratech Ltd - India
- Riau Bara Harum - Indonesia
- Kumho Petrochemical, South Korea
- Vijayanagar Sugar Pvt Ltd - India
- Interocean Group of Companies - India
- Wood Mackenzie - Singapore
- Uttam Galva Steels Limited - India
- Gujarat Electricity Regulatory Commission - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Ind-Barath Power Infra Limited - India
- White Energy Company Limited
- Borneo Indobara - Indonesia
- Simpson Spence & Young - Indonesia
- London Commodity Brokers - England
- Kohat Cement Company Ltd. - Pakistan
- Aboitiz Power Corporation - Philippines
- Rio Tinto Coal - Australia
- Trasteel International SA, Italy
- Neyveli Lignite Corporation Ltd, - India
- Sical Logistics Limited - India
- Tata Chemicals Ltd - India
- Dalmia Cement Bharat India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Orica Mining Services - Indonesia
- Malabar Cements Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Meenaskhi Energy Private Limited - India
- Star Paper Mills Limited - India
- CNBM International Corporation - China
- Thiess Contractors Indonesia
- Romanian Commodities Exchange
- Kideco Jaya Agung - Indonesia
- Mercuria Energy - Indonesia
- Barasentosa Lestari - Indonesia
- Binh Thuan Hamico - Vietnam
- OPG Power Generation Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- Sarangani Energy Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- Ambuja Cements Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Semirara Mining Corp, Philippines
- Miang Besar Coal Terminal - Indonesia
- PTC India Limited - India
- AsiaOL BioFuels Corp., Philippines
- Sakthi Sugars Limited - India
- Thai Mozambique Logistica
- Bhushan Steel Limited - India
- Krishnapatnam Port Company Ltd. - India
- Salva Resources Pvt Ltd - India
- Petron Corporation, Philippines
- Jindal Steel & Power Ltd - India
- Eastern Coal Council - USA
- Cigading International Bulk Terminal - Indonesia
- Global Business Power Corporation, Philippines
- Central Electricity Authority - India
- Planning Commission, India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Central Java Power - Indonesia
- Kaltim Prima Coal - Indonesia
- Electricity Authority, New Zealand
- TNB Fuel Sdn Bhd - Malaysia
- Intertek Mineral Services - Indonesia
- Posco Energy - South Korea
- Bukit Makmur.PT - Indonesia
- Attock Cement Pakistan Limited
- ICICI Bank Limited - India
- SMG Consultants - Indonesia
- Jaiprakash Power Ventures ltd
- Sindya Power Generating Company Private Ltd
- Banpu Public Company Limited - Thailand
- GAC Shipping (India) Pvt Ltd
- Standard Chartered Bank - UAE
- Parliament of New Zealand
- Samtan Co., Ltd - South Korea
- Ministry of Transport, Egypt
- Karbindo Abesyapradhi - Indoneisa
- Indian Energy Exchange, India
- Carbofer General Trading SA - India
- Vizag Seaport Private Limited - India
- Latin American Coal - Colombia
- Kepco SPC Power Corporation, Philippines
- Goldman Sachs - Singapore
- Renaissance Capital - South Africa
- VISA Power Limited - India
- Leighton Contractors Pty Ltd - Australia
- LBH Netherlands Bv - Netherlands
- Global Green Power PLC Corporation, Philippines
- Mintek Dendrill Indonesia
- South Luzon Thermal Energy Corporation
- Madhucon Powers Ltd - India
- Gujarat Sidhee Cement - India
- Medco Energi Mining Internasional
- Energy Link Ltd, New Zealand
- Manunggal Multi Energi - Indonesia
- Power Finance Corporation Ltd., India
- Mercator Lines Limited - India
- Anglo American - United Kingdom
- MS Steel International - UAE
- Oldendorff Carriers - Singapore
- Siam City Cement PLC, Thailand
- Indika Energy - Indonesia
- Indian Oil Corporation Limited
- Tamil Nadu electricity Board
- Bukit Asam (Persero) Tbk - Indonesia
- Iligan Light & Power Inc, Philippines
- Bhoruka Overseas - Indonesia
- Commonwealth Bank - Australia
- Essar Steel Hazira Ltd - India
- Karaikal Port Pvt Ltd - India
- Australian Commodity Traders Exchange
- Alfred C Toepfer International GmbH - Germany
- CIMB Investment Bank - Malaysia
- GVK Power & Infra Limited - India
- The University of Queensland
- Grasim Industreis Ltd - India
- IEA Clean Coal Centre - UK
- Agrawal Coal Company - India
- Kartika Selabumi Mining - Indonesia
- Siam City Cement - Thailand
- Metalloyd Limited - United Kingdom
- Vedanta Resources Plc - India
- Antam Resourcindo - Indonesia
- Directorate Of Revenue Intelligence - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Directorate General of MIneral and Coal - Indonesia
- McConnell Dowell - Australia
- India Bulls Power Limited - India
- Holcim Trading Pte Ltd - Singapore
- Global Coal Blending Company Limited - Australia
- Cement Manufacturers Association - India
- Mjunction Services Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Sojitz Corporation - Japan
- The Treasury - Australian Government
- Africa Commodities Group - South Africa
- Formosa Plastics Group - Taiwan
- PowerSource Philippines DevCo
- Economic Council, Georgia
- TeaM Sual Corporation - Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Indo Tambangraya Megah - Indonesia
- Eastern Energy - Thailand
- IHS Mccloskey Coal Group - USA
- Larsen & Toubro Limited - India
- Pendopo Energi Batubara - Indonesia
- Coal and Oil Company - UAE
- Chamber of Mines of South Africa
- Electricity Generating Authority of Thailand
- Chettinad Cement Corporation Ltd - India
- Merrill Lynch Commodities Europe
- Parry Sugars Refinery, India
- Xindia Steels Limited - India
- Orica Australia Pty. Ltd.
- Timah Investasi Mineral - Indoneisa
- Edison Trading Spa - Italy
- Coastal Gujarat Power Limited - India
- New Zealand Coal & Carbon
- Sree Jayajothi Cements Limited - India
- SMC Global Power, Philippines
- Baramulti Group, Indonesia
- Globalindo Alam Lestari - Indonesia
- Savvy Resources Ltd - HongKong
- San Jose City I Power Corp, Philippines
- Australian Coal Association
- Meralco Power Generation, Philippines
- Toyota Tsusho Corporation, Japan
- The State Trading Corporation of India Ltd
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