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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$500 million each year.
Churchill hired corporate heavyweight Credit Suisse back in April 2010 to complete a strategic review and help it evaluate the various options for East Kutai’s project financing.
Source: Proactive Investors (by Sergei Balashov)
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Friday, 04 February 11
ADARO ENERGY FY10 COAL SALES UP 6 PERCENT TO 43.84 MILLION
As reported by insider stories, Indonesian coal miners PT Adaro Energy Tbk has produced 42.20 million tons of coal in 2010, a 4 percent increase com ...
Thursday, 03 February 11
MERCATOR LINES TO INVEST RS 200-250 CRORE ON COAL MINE IN INDONESIA - ECONOMIC TIMES
Economic Times reported that, Mercator Lines, the HK Mittal-controlled shipping-to-mines major, will invest about 200-250 crore (US$ 43.825 - 54.781 ...
Thursday, 03 February 11
DRY BULK MARKET LOOKS SET TO BOTTOM OUT NIKOS - ROUSSANOGLOU, HELLENIC SHIPPING
With the dry bulk market having lost more than 72% of its value in the last month or so and having retreated to a 2-year low, it seems that the bott ...
Wednesday, 02 February 11
INDONESIA MAY MISS COAL EXPORT TARGET IN 2011
COALspot.com - Indonesian Trade ministry has instructed independent surveyors temporarily not to issue pre-shipment survey report (LS) to the compan ...
Wednesday, 02 February 11
BAYAN TO SUPPLY COAL TO TP UTILITIES LTD
Insider Stories has reportd that, Indonesia's one of the leading coal miner PT Bayan Resources Tbk (BYAN) owned by businessman Dato' Low Tuck ...
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- Price Waterhouse Coopers - Russia
- Sical Logistics Limited - India
- Gujarat Electricity Regulatory Commission - India
- Carbofer General Trading SA - India
- Tata Chemicals Ltd - India
- SMG Consultants - Indonesia
- Edison Trading Spa - Italy
- GN Power Mariveles Coal Plant, Philippines
- Latin American Coal - Colombia
- Grasim Industreis Ltd - India
- Chamber of Mines of South Africa
- Bhatia International Limited - India
- Directorate Of Revenue Intelligence - India
- Neyveli Lignite Corporation Ltd, - India
- Indogreen Group - Indonesia
- Indika Energy - Indonesia
- Interocean Group of Companies - India
- Xindia Steels Limited - India
- Maheswari Brothers Coal Limited - India
- Petron Corporation, Philippines
- Minerals Council of Australia
- OPG Power Generation Pvt Ltd - India
- Malabar Cements Ltd - India
- Renaissance Capital - South Africa
- Antam Resourcindo - Indonesia
- PowerSource Philippines DevCo
- Meralco Power Generation, Philippines
- Mercator Lines Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- India Bulls Power Limited - India
- Rashtriya Ispat Nigam Limited - India
- Vizag Seaport Private Limited - India
- Manunggal Multi Energi - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- CIMB Investment Bank - Malaysia
- Altura Mining Limited, Indonesia
- Rio Tinto Coal - Australia
- Holcim Trading Pte Ltd - Singapore
- Kaltim Prima Coal - Indonesia
- Indian Oil Corporation Limited
- Larsen & Toubro Limited - India
- Jindal Steel & Power Ltd - India
- TeaM Sual Corporation - Philippines
- Simpson Spence & Young - Indonesia
- Indonesian Coal Mining Association
- GVK Power & Infra Limited - India
- Sakthi Sugars Limited - India
- San Jose City I Power Corp, Philippines
- Georgia Ports Authority, United States
- White Energy Company Limited
- Vedanta Resources Plc - India
- IEA Clean Coal Centre - UK
- Mercuria Energy - Indonesia
- Aditya Birla Group - India
- Eastern Energy - Thailand
- Leighton Contractors Pty Ltd - Australia
- Kapuas Tunggal Persada - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Siam City Cement - Thailand
- Semirara Mining Corp, Philippines
- Alfred C Toepfer International GmbH - Germany
- Bukit Baiduri Energy - Indonesia
- Chettinad Cement Corporation Ltd - India
- Pendopo Energi Batubara - Indonesia
- The State Trading Corporation of India Ltd
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kumho Petrochemical, South Korea
- Vijayanagar Sugar Pvt Ltd - India
- Australian Coal Association
- Sarangani Energy Corporation, Philippines
- McConnell Dowell - Australia
- Bangladesh Power Developement Board
- Madhucon Powers Ltd - India
- Goldman Sachs - Singapore
- Coal and Oil Company - UAE
- Binh Thuan Hamico - Vietnam
- Bhushan Steel Limited - India
- Barasentosa Lestari - Indonesia
- Miang Besar Coal Terminal - Indonesia
- ICICI Bank Limited - India
- Marubeni Corporation - India
- Coalindo Energy - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Parliament of New Zealand
- Eastern Coal Council - USA
- Romanian Commodities Exchange
- Jorong Barutama Greston.PT - Indonesia
- Lanco Infratech Ltd - India
- Coastal Gujarat Power Limited - India
- Kideco Jaya Agung - Indonesia
- Uttam Galva Steels Limited - India
- Commonwealth Bank - Australia
- Bharathi Cement Corporation - India
- MS Steel International - UAE
- Metalloyd Limited - United Kingdom
- Parry Sugars Refinery, India
- Kartika Selabumi Mining - Indonesia
- Makarim & Taira - Indonesia
- Standard Chartered Bank - UAE
- Ind-Barath Power Infra Limited - India
- Samtan Co., Ltd - South Korea
- Australian Commodity Traders Exchange
- Timah Investasi Mineral - Indoneisa
- Bayan Resources Tbk. - Indonesia
- SN Aboitiz Power Inc, Philippines
- Ambuja Cements Ltd - India
- Orica Mining Services - Indonesia
- New Zealand Coal & Carbon
- Sojitz Corporation - Japan
- Energy Link Ltd, New Zealand
- Anglo American - United Kingdom
- Electricity Generating Authority of Thailand
- Global Coal Blending Company Limited - Australia
- Kobexindo Tractors - Indoneisa
- GAC Shipping (India) Pvt Ltd
- VISA Power Limited - India
- Global Green Power PLC Corporation, Philippines
- Attock Cement Pakistan Limited
- Posco Energy - South Korea
- Indian Energy Exchange, India
- Power Finance Corporation Ltd., India
- Trasteel International SA, Italy
- Kalimantan Lumbung Energi - Indonesia
- Energy Development Corp, Philippines
- Bulk Trading Sa - Switzerland
- Toyota Tsusho Corporation, Japan
- Mjunction Services Limited - India
- Wood Mackenzie - Singapore
- Ministry of Transport, Egypt
- European Bulk Services B.V. - Netherlands
- Dalmia Cement Bharat India
- Bukit Asam (Persero) Tbk - Indonesia
- Ministry of Mines - Canada
- Thai Mozambique Logistica
- Deloitte Consulting - India
- Indo Tambangraya Megah - Indonesia
- The Treasury - Australian Government
- Directorate General of MIneral and Coal - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- PTC India Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Tamil Nadu electricity Board
- Central Electricity Authority - India
- The University of Queensland
- Ceylon Electricity Board - Sri Lanka
- Meenaskhi Energy Private Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Borneo Indobara - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- South Luzon Thermal Energy Corporation
- International Coal Ventures Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- Therma Luzon, Inc, Philippines
- Sindya Power Generating Company Private Ltd
- Siam City Cement PLC, Thailand
- Africa Commodities Group - South Africa
- Sinarmas Energy and Mining - Indonesia
- CNBM International Corporation - China
- Asmin Koalindo Tuhup - Indonesia
- Karaikal Port Pvt Ltd - India
- Gujarat Sidhee Cement - India
- IHS Mccloskey Coal Group - USA
- LBH Netherlands Bv - Netherlands
- Ministry of Finance - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Bukit Makmur.PT - Indonesia
- Globalindo Alam Lestari - Indonesia
- Banpu Public Company Limited - Thailand
- Aboitiz Power Corporation - Philippines
- Port Waratah Coal Services - Australia
- Economic Council, Georgia
- Medco Energi Mining Internasional
- Heidelberg Cement - Germany
- Cigading International Bulk Terminal - Indonesia
- SMC Global Power, Philippines
- Merrill Lynch Commodities Europe
- Baramulti Group, Indonesia
- Formosa Plastics Group - Taiwan
- Orica Australia Pty. Ltd.
- Videocon Industries ltd - India
- Cement Manufacturers Association - India
- Bahari Cakrawala Sebuku - Indonesia
- Salva Resources Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Sree Jayajothi Cements Limited - India
- Kepco SPC Power Corporation, Philippines
- Star Paper Mills Limited - India
- Thiess Contractors Indonesia
- Oldendorff Carriers - Singapore
- Riau Bara Harum - Indonesia
- Bhoruka Overseas - Indonesia
- GMR Energy Limited - India
- Electricity Authority, New Zealand
- Central Java Power - Indonesia
- Jaiprakash Power Ventures ltd
- Offshore Bulk Terminal Pte Ltd, Singapore
- Intertek Mineral Services - Indonesia
- Wilmar Investment Holdings
- Karbindo Abesyapradhi - Indoneisa
- Agrawal Coal Company - India
- Mintek Dendrill Indonesia
- Straits Asia Resources Limited - Singapore
- Singapore Mercantile Exchange
- London Commodity Brokers - England
- Independent Power Producers Association of India
- ASAPP Information Group - India
- Essar Steel Hazira Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Planning Commission, India
- Billiton Holdings Pty Ltd - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- PNOC Exploration Corporation - Philippines
- Global Business Power Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Savvy Resources Ltd - HongKong
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