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