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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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Wednesday, 02 February 11
HUGE TONNAGE OVERSUPPLY LOOMING FOR DRY BULK MARKET - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
With the dry bulk market taking another dive yesterday, to just over 1,000 points (1,084), losing more than 2% on the day, it’s more than obvi ...
Monday, 31 January 11
S. SUMATRA COAL RAILWAY TO BE COMPLETED ON SCHEDULE - THE JAKARTA POST
The Jakarta Post reported that, despite land acquisition problems, state coal mining company PT Bukit Asam is upbeat that the development of a railw ...
Monday, 31 January 11
COAL MINER PTBA TO DRIVE OUTPUT WITH ACQUISITIONS - THE JAKARTA GLOBE
The Jakarta Globe reported that, State coal company Perusahaan Tambang Batubara Bukit Asam said its output would increase 34 percent to 17.6 million ...
Saturday, 29 January 11
PRESSURE ON SHIPPING MARKET MAY CONTINUE UNTIL MID FEBRUARY 2011
COALspot.com - The BDI continues to drop and saw a drop of about 5 pct this week closing at 1370 points.
In May 2010 the BDI touched 4,209 ...
Saturday, 29 January 11
ANTAM ACQUIRES SAROLANGUN COAL MINING
According to Insider Stories, Nickel and gold miner PT Aneka Tambang Tbk (Antam) of Indonesia via its subsidiary PT Indonesia Coal Resources (ICR) h ...
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- Therma Luzon, Inc, Philippines
- Malabar Cements Ltd - India
- Kaltim Prima Coal - Indonesia
- Videocon Industries ltd - India
- South Luzon Thermal Energy Corporation
- Mjunction Services Limited - India
- Borneo Indobara - Indonesia
- Ministry of Transport, Egypt
- Star Paper Mills Limited - India
- Ceylon Electricity Board - Sri Lanka
- Electricity Authority, New Zealand
- Indogreen Group - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Coal and Oil Company - UAE
- Miang Besar Coal Terminal - Indonesia
- Sakthi Sugars Limited - India
- Formosa Plastics Group - Taiwan
- Directorate General of MIneral and Coal - Indonesia
- OPG Power Generation Pvt Ltd - India
- Indonesian Coal Mining Association
- Kartika Selabumi Mining - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indika Energy - Indonesia
- Timah Investasi Mineral - Indoneisa
- Thai Mozambique Logistica
- Asmin Koalindo Tuhup - Indonesia
- Carbofer General Trading SA - India
- The University of Queensland
- Kalimantan Lumbung Energi - Indonesia
- Savvy Resources Ltd - HongKong
- Petron Corporation, Philippines
- SMC Global Power, Philippines
- Bulk Trading Sa - Switzerland
- Directorate Of Revenue Intelligence - India
- Ambuja Cements Ltd - India
- Antam Resourcindo - Indonesia
- Simpson Spence & Young - Indonesia
- Edison Trading Spa - Italy
- Chamber of Mines of South Africa
- Australian Coal Association
- Sree Jayajothi Cements Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Bukit Baiduri Energy - Indonesia
- New Zealand Coal & Carbon
- Toyota Tsusho Corporation, Japan
- VISA Power Limited - India
- Baramulti Group, Indonesia
- Krishnapatnam Port Company Ltd. - India
- Billiton Holdings Pty Ltd - Australia
- IHS Mccloskey Coal Group - USA
- Global Business Power Corporation, Philippines
- Bangladesh Power Developement Board
- SMG Consultants - Indonesia
- Deloitte Consulting - India
- Mintek Dendrill Indonesia
- GAC Shipping (India) Pvt Ltd
- Renaissance Capital - South Africa
- Lanco Infratech Ltd - India
- ICICI Bank Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Electricity Generating Authority of Thailand
- Grasim Industreis Ltd - India
- Kobexindo Tractors - Indoneisa
- Maharashtra Electricity Regulatory Commission - India
- Banpu Public Company Limited - Thailand
- Ministry of Mines - Canada
- Commonwealth Bank - Australia
- PTC India Limited - India
- Maheswari Brothers Coal Limited - India
- Agrawal Coal Company - India
- Kumho Petrochemical, South Korea
- Energy Link Ltd, New Zealand
- Barasentosa Lestari - Indonesia
- Posco Energy - South Korea
- Tamil Nadu electricity Board
- Meenaskhi Energy Private Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Price Waterhouse Coopers - Russia
- Essar Steel Hazira Ltd - India
- Central Java Power - Indonesia
- Economic Council, Georgia
- Bharathi Cement Corporation - India
- Uttam Galva Steels Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Attock Cement Pakistan Limited
- IEA Clean Coal Centre - UK
- Jorong Barutama Greston.PT - Indonesia
- Global Coal Blending Company Limited - Australia
- Bhatia International Limited - India
- The Treasury - Australian Government
- Global Green Power PLC Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- Indian Oil Corporation Limited
- GMR Energy Limited - India
- Wilmar Investment Holdings
- Cement Manufacturers Association - India
- Oldendorff Carriers - Singapore
- PetroVietnam Power Coal Import and Supply Company
- Larsen & Toubro Limited - India
- Iligan Light & Power Inc, Philippines
- Romanian Commodities Exchange
- Globalindo Alam Lestari - Indonesia
- CNBM International Corporation - China
- Cigading International Bulk Terminal - Indonesia
- Semirara Mining Corp, Philippines
- Independent Power Producers Association of India
- Singapore Mercantile Exchange
- Asia Pacific Energy Resources Ventures Inc, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- London Commodity Brokers - England
- Dalmia Cement Bharat India
- Wood Mackenzie - Singapore
- Vijayanagar Sugar Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- Xindia Steels Limited - India
- San Jose City I Power Corp, Philippines
- ASAPP Information Group - India
- Altura Mining Limited, Indonesia
- Interocean Group of Companies - India
- McConnell Dowell - Australia
- Tata Chemicals Ltd - India
- Heidelberg Cement - Germany
- Chettinad Cement Corporation Ltd - India
- Merrill Lynch Commodities Europe
- Coalindo Energy - Indonesia
- Eastern Energy - Thailand
- Minerals Council of Australia
- Eastern Coal Council - USA
- Kepco SPC Power Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- TeaM Sual Corporation - Philippines
- Holcim Trading Pte Ltd - Singapore
- LBH Netherlands Bv - Netherlands
- Meralco Power Generation, Philippines
- Central Electricity Authority - India
- Parliament of New Zealand
- Indian Energy Exchange, India
- Indo Tambangraya Megah - Indonesia
- Vedanta Resources Plc - India
- Thiess Contractors Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Georgia Ports Authority, United States
- Australian Commodity Traders Exchange
- Kideco Jaya Agung - Indonesia
- Straits Asia Resources Limited - Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- GVK Power & Infra Limited - India
- Intertek Mineral Services - Indonesia
- Sarangani Energy Corporation, Philippines
- India Bulls Power Limited - India
- Siam City Cement - Thailand
- Coastal Gujarat Power Limited - India
- Leighton Contractors Pty Ltd - Australia
- Madhucon Powers Ltd - India
- Orica Mining Services - Indonesia
- Anglo American - United Kingdom
- Bayan Resources Tbk. - Indonesia
- Rashtriya Ispat Nigam Limited - India
- The State Trading Corporation of India Ltd
- Karbindo Abesyapradhi - Indoneisa
- Trasteel International SA, Italy
- Sojitz Corporation - Japan
- Alfred C Toepfer International GmbH - Germany
- Semirara Mining and Power Corporation, Philippines
- CIMB Investment Bank - Malaysia
- Mercator Lines Limited - India
- Binh Thuan Hamico - Vietnam
- Kapuas Tunggal Persada - Indonesia
- Planning Commission, India
- Gujarat Electricity Regulatory Commission - India
- Makarim & Taira - Indonesia
- Africa Commodities Group - South Africa
- Parry Sugars Refinery, India
- Karaikal Port Pvt Ltd - India
- Gujarat Sidhee Cement - India
- Salva Resources Pvt Ltd - India
- Port Waratah Coal Services - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Rio Tinto Coal - Australia
- Jindal Steel & Power Ltd - India
- Goldman Sachs - Singapore
- Sical Logistics Limited - India
- Standard Chartered Bank - UAE
- AsiaOL BioFuels Corp., Philippines
- Bhoruka Overseas - Indonesia
- Power Finance Corporation Ltd., India
- Offshore Bulk Terminal Pte Ltd, Singapore
- MS Steel International - UAE
- PowerSource Philippines DevCo
- Ind-Barath Power Infra Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Siam City Cement PLC, Thailand
- European Bulk Services B.V. - Netherlands
- Aditya Birla Group - India
- SN Aboitiz Power Inc, Philippines
- PNOC Exploration Corporation - Philippines
- Medco Energi Mining Internasional
- Ministry of Finance - Indonesia
- Latin American Coal - Colombia
- International Coal Ventures Pvt Ltd - India
- Riau Bara Harum - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- White Energy Company Limited
- Samtan Co., Ltd - South Korea
- Energy Development Corp, Philippines
- Aboitiz Power Corporation - Philippines
- Metalloyd Limited - United Kingdom
- Pendopo Energi Batubara - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Vizag Seaport Private Limited - India
- Marubeni Corporation - India
- Sindya Power Generating Company Private Ltd
- Sinarmas Energy and Mining - Indonesia
- Mercuria Energy - Indonesia
- Bhushan Steel Limited - India
- Orica Australia Pty. Ltd.
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