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