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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, 19 January 11
DRY BULK MARKET HAS BOTTOMED OUT, AS WEATHER IN AUSTRALIA DIALS DOWN - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has finally halted its plunge, after a devastating week of yet more losses. The industry’s benchmark, the Baltic Dry Index ...
Tuesday, 18 January 11
MINISTRY SEEKS COAL FROM INDONESIA - SUNDAY OBSERVER
Sunday Observer reported that, Ministry of Power and Energy is to explore the possibilities of importing quality coal from Indonesia.
Minister Pa ...
Tuesday, 18 January 11
DRY BULK MARKET HAS BOTTOMED OUT, AS WEATHER IN AUSTRALIA DIALS DOWN - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has finally halted its plunge, after a devastating week of yet more losses. The industry’s benchmark, the Baltic Dry Index ...
Sunday, 16 January 11
STANCHART GLOBAL RESEARCH SEES COAL PRICE RISING ON SUPPLY DISRUPTION - BURSA MALAYSIA MARKET NEWS
Bursa Malaysia Market News reported that, Standard Chartered Global Research has upgraded its 2011 forecasts for global thermal coal prices based on ...
Saturday, 15 January 11
SUPRAMAX VESSELS FIXED AROUND $ 8K FOR TRIP VIA INDONESIA TO INDIA - VISTAAR
COALspot.com - The BDI continues to drop and has touched below 1,500 points with the cape index severely affected with the index touching 1,595 poin ...
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- PNOC Exploration Corporation - Philippines
- Semirara Mining Corp, Philippines
- Africa Commodities Group - South Africa
- Tata Chemicals Ltd - India
- Grasim Industreis Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Aditya Birla Group - India
- Bayan Resources Tbk. - Indonesia
- Kideco Jaya Agung - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Global Coal Blending Company Limited - Australia
- Indo Tambangraya Megah - Indonesia
- Siam City Cement - Thailand
- Orica Mining Services - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Meralco Power Generation, Philippines
- Vizag Seaport Private Limited - India
- PetroVietnam Power Coal Import and Supply Company
- MS Steel International - UAE
- Eastern Coal Council - USA
- Karbindo Abesyapradhi - Indoneisa
- Pipit Mutiara Jaya. PT, Indonesia
- Renaissance Capital - South Africa
- Xindia Steels Limited - India
- Global Green Power PLC Corporation, Philippines
- Ministry of Transport, Egypt
- Bhushan Steel Limited - India
- Sindya Power Generating Company Private Ltd
- Rashtriya Ispat Nigam Limited - India
- Lanco Infratech Ltd - India
- Trasteel International SA, Italy
- GVK Power & Infra Limited - India
- Edison Trading Spa - Italy
- Manunggal Multi Energi - Indonesia
- Bulk Trading Sa - Switzerland
- Bangladesh Power Developement Board
- SMG Consultants - Indonesia
- CIMB Investment Bank - Malaysia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Gujarat Mineral Development Corp Ltd - India
- Coastal Gujarat Power Limited - India
- Jindal Steel & Power Ltd - India
- Binh Thuan Hamico - Vietnam
- Bukit Baiduri Energy - Indonesia
- Interocean Group of Companies - India
- Asmin Koalindo Tuhup - Indonesia
- Ministry of Mines - Canada
- LBH Netherlands Bv - Netherlands
- Alfred C Toepfer International GmbH - Germany
- Petrochimia International Co. Ltd.- Taiwan
- Dalmia Cement Bharat India
- Carbofer General Trading SA - India
- OPG Power Generation Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Chettinad Cement Corporation Ltd - India
- Merrill Lynch Commodities Europe
- Indonesian Coal Mining Association
- Energy Development Corp, Philippines
- Wood Mackenzie - Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- Krishnapatnam Port Company Ltd. - India
- Bukit Makmur.PT - Indonesia
- Videocon Industries ltd - India
- Timah Investasi Mineral - Indoneisa
- Baramulti Group, Indonesia
- Parry Sugars Refinery, India
- The Treasury - Australian Government
- Australian Coal Association
- Bahari Cakrawala Sebuku - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- PTC India Limited - India
- White Energy Company Limited
- Maheswari Brothers Coal Limited - India
- Siam City Cement PLC, Thailand
- Port Waratah Coal Services - Australia
- Star Paper Mills Limited - India
- Economic Council, Georgia
- Sarangani Energy Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Samtan Co., Ltd - South Korea
- Sree Jayajothi Cements Limited - India
- Kartika Selabumi Mining - Indonesia
- Uttam Galva Steels Limited - India
- Cigading International Bulk Terminal - Indonesia
- Georgia Ports Authority, United States
- Kohat Cement Company Ltd. - Pakistan
- Indogreen Group - Indonesia
- Intertek Mineral Services - Indonesia
- Directorate Of Revenue Intelligence - India
- Coal and Oil Company - UAE
- Bhoruka Overseas - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Essar Steel Hazira Ltd - India
- Attock Cement Pakistan Limited
- ICICI Bank Limited - India
- Globalindo Alam Lestari - Indonesia
- Medco Energi Mining Internasional
- Sojitz Corporation - Japan
- Chamber of Mines of South Africa
- IHS Mccloskey Coal Group - USA
- Latin American Coal - Colombia
- AsiaOL BioFuels Corp., Philippines
- Simpson Spence & Young - Indonesia
- Wilmar Investment Holdings
- Anglo American - United Kingdom
- Straits Asia Resources Limited - Singapore
- Savvy Resources Ltd - HongKong
- Oldendorff Carriers - Singapore
- Malabar Cements Ltd - India
- Aboitiz Power Corporation - Philippines
- Marubeni Corporation - India
- TNB Fuel Sdn Bhd - Malaysia
- ASAPP Information Group - India
- Indian Oil Corporation Limited
- Romanian Commodities Exchange
- Australian Commodity Traders Exchange
- Gujarat Electricity Regulatory Commission - India
- New Zealand Coal & Carbon
- PowerSource Philippines DevCo
- Iligan Light & Power Inc, Philippines
- The State Trading Corporation of India Ltd
- Formosa Plastics Group - Taiwan
- Holcim Trading Pte Ltd - Singapore
- Thai Mozambique Logistica
- Therma Luzon, Inc, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indika Energy - Indonesia
- Altura Mining Limited, Indonesia
- Salva Resources Pvt Ltd - India
- Mjunction Services Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bharathi Cement Corporation - India
- Kaltim Prima Coal - Indonesia
- Toyota Tsusho Corporation, Japan
- SMC Global Power, Philippines
- Energy Link Ltd, New Zealand
- Mercator Lines Limited - India
- Ind-Barath Power Infra Limited - India
- Riau Bara Harum - Indonesia
- Goldman Sachs - Singapore
- Bhatia International Limited - India
- Central Java Power - Indonesia
- Borneo Indobara - Indonesia
- International Coal Ventures Pvt Ltd - India
- Antam Resourcindo - Indonesia
- Indian Energy Exchange, India
- Price Waterhouse Coopers - Russia
- GAC Shipping (India) Pvt Ltd
- Eastern Energy - Thailand
- Sakthi Sugars Limited - India
- Kumho Petrochemical, South Korea
- Jaiprakash Power Ventures ltd
- Kobexindo Tractors - Indoneisa
- San Jose City I Power Corp, Philippines
- Sical Logistics Limited - India
- Coalindo Energy - Indonesia
- Pendopo Energi Batubara - Indonesia
- Larsen & Toubro Limited - India
- Posco Energy - South Korea
- Standard Chartered Bank - UAE
- Petron Corporation, Philippines
- Ministry of Finance - Indonesia
- European Bulk Services B.V. - Netherlands
- VISA Power Limited - India
- Electricity Generating Authority of Thailand
- India Bulls Power Limited - India
- Minerals Council of Australia
- IEA Clean Coal Centre - UK
- Mercuria Energy - Indonesia
- Tamil Nadu electricity Board
- Cement Manufacturers Association - India
- McConnell Dowell - Australia
- Global Business Power Corporation, Philippines
- Independent Power Producers Association of India
- The University of Queensland
- Gujarat Sidhee Cement - India
- London Commodity Brokers - England
- Vijayanagar Sugar Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Kepco SPC Power Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- GN Power Mariveles Coal Plant, Philippines
- GMR Energy Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Planning Commission, India
- Central Electricity Authority - India
- Heidelberg Cement - Germany
- Neyveli Lignite Corporation Ltd, - India
- Rio Tinto Coal - Australia
- Commonwealth Bank - Australia
- Makarim & Taira - Indonesia
- Electricity Authority, New Zealand
- CNBM International Corporation - China
- Orica Australia Pty. Ltd.
- Vedanta Resources Plc - India
- Madhucon Powers Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Deloitte Consulting - India
- South Luzon Thermal Energy Corporation
- TeaM Sual Corporation - Philippines
- Ambuja Cements Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Jorong Barutama Greston.PT - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Parliament of New Zealand
- Kapuas Tunggal Persada - Indonesia
- Mintek Dendrill Indonesia
- Singapore Mercantile Exchange
- SN Aboitiz Power Inc, Philippines
- Banpu Public Company Limited - Thailand
- Metalloyd Limited - United Kingdom
- Thiess Contractors Indonesia
- Agrawal Coal Company - India
- Karaikal Port Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- Power Finance Corporation Ltd., India
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