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Monday, 22 August 11
JATENERGY AGREED TO FORM JV WITH AN INDONESIAN COAL MINING COMPANY
 COALspot.com - Australian’s listed company, Jatenergy Limited has entered conditional agreement to form joint venture with Indonesia’s coal mining, CV Wijaya Mulia which handled Jongkang project. CV Wijaya had exploration permit (IUP) for 100 hectares site mining in the East Kalimantan, Indonesia. Indicative calorific value coal of Jongkang project was 6,400-6,674 adb kcal/kg.
Under this agreement, Jatenergy will covering the working capital costs of the operation, expected to be maximum of US$ 2 million, while gaining the rights to 30% of the mining margin and the ability to market 100% of the coal produced. The transaction is subject to final legal and technical due diligence, which is expected to take about four weeks, and the development of the mine is expected to progress quickly, given CV Wijaya Mulia is already mobilized on an adjacent site. A production license is expected to be granted for Jongkang by the end of September along with the execution of a final JV agreement.
According the company report to Australian Stock Exchange, the Jongkang project located 5 km along an existing haul road from the Mahakam river and about 25 km from a major hub of Indonesia’s coal industry at Samarinda, is being developed by an existing coal mine operator, CV Wijaya Mulia. Jatenergy has signed a heads of agreement with that Indonesian company, which is well known to Jatenergy’s chief executive officer-Indonesia, Chris Flanagan.
CV Wijaya Mulia will provide the tenements and management team, while the mining, haulage, and shipping will be undertaked by experienced contractors which currently operate two adjoining mines for the owners of CV Wijaya Mulia, The owners of CV Wijaya Mulia have been in coal operations for over ten years.
Jatenergy’s Chief Executive Phil Hodgson said the cash flows expected next year from Jongkang and also the company’s Atan Bara coal project would be used to fund further development of the company. “Once we achieve cash flows, they will be used to fund a very important development program for Jatenergy, to define and hopefully mine coal from our Katingan project in Central Kalimantan,” he said. “When proven, Katingan will become Jatenergy’s showcase operation,” he added.
Katingan has a potential exploration target of 36.4-43.1 million tonnes of medium quality thermal coal and is located in Central Kalimantan. Drilling to define a JORC resource is scheduled to commence during the second half of 2011, once cash flows are established. Future work may or may not delineate or outline this target in part or in whole.
Other ventures in Central Kalimantan include BHP Billiton’s Maruwai project, which is expected to cost up to US$ 1 billion and produce 6 million tonnes a year. Realm Resources has commited US$ 27 million for a 75% stake of a project called Katingan Ria, which has an inferred resource of 40.1 million tonnes. A third Autralian company, Cokal, has bought into four exploration areas in central Kalimantan, with the aim of developing a coking coal operation.
“Adding a second fast-to-production mine to our portfolio ahead of plan is a great testament to our local team,” Hodgson said. “Given the opportunity to leverage Wijaya Mulia’s current operational infrastructure for mining and export, we expect we can develop the mine quickly and generate revenues this year,” Hodgson added.
To contact the reporter responsible on this story: Efendi at efendi@coalspot.com
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Saturday, 03 September 11
FEW SHIPS REPORTED FIXED FROM INDONESIA TO INDIA - VISTAAR
COALspot.com - The freight market continued the upward trend during last week with BDI up by about 13 pct closing at 1,740 points and cape index up ...
Saturday, 03 September 11
TNPL TO BUY 240K MT OF NON-COKING COAL
COALspot.com - Tamil Nadu Newsprint and Papers Limited (TNPL), is seeking to procure 240,000 MT +/- 5 percent of non-coking imported coal with ...
Friday, 02 September 11
CAPESIZE DEMAND LIFTS DRY BULK MARKET ONCE AGAIN - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
In what proves to be the best week of the year for Capesize owners, strong demand has helped propel the dry bulk market to new highs yesterday. The ...
Thursday, 01 September 11
EWP TO BUY 195KT OF VIETNAM COAL
COALspot.com - Korea Midland Power (KOMIPO) has issued an International open bidding for 490kt of sub bituminous coal, according to a bid invitation ...
Thursday, 01 September 11
DRY BULK MARKET TAKES GREAT LEAP FORWARD - NIKOS ROUSSANOGLOU
In what turned out to be a rather hopeful ending of the month, the last day of August saw the dry bulk market’s benchmark, the BDI (Baltic Dry ...
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- Bayan Resources Tbk. - Indonesia
- Indo Tambangraya Megah - Indonesia
- SMC Global Power, Philippines
- Central Electricity Authority - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ministry of Transport, Egypt
- Malabar Cements Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Salva Resources Pvt Ltd - India
- Petron Corporation, Philippines
- Indika Energy - Indonesia
- Deloitte Consulting - India
- Energy Development Corp, Philippines
- London Commodity Brokers - England
- Mercuria Energy - Indonesia
- International Coal Ventures Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Goldman Sachs - Singapore
- Independent Power Producers Association of India
- McConnell Dowell - Australia
- Chettinad Cement Corporation Ltd - India
- Riau Bara Harum - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Anglo American - United Kingdom
- Grasim Industreis Ltd - India
- Singapore Mercantile Exchange
- Gujarat Sidhee Cement - India
- GAC Shipping (India) Pvt Ltd
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Port Waratah Coal Services - Australia
- Baramulti Group, Indonesia
- Metalloyd Limited - United Kingdom
- Iligan Light & Power Inc, Philippines
- Orica Australia Pty. Ltd.
- White Energy Company Limited
- Mintek Dendrill Indonesia
- Price Waterhouse Coopers - Russia
- SMG Consultants - Indonesia
- Bukit Makmur.PT - Indonesia
- TeaM Sual Corporation - Philippines
- Electricity Generating Authority of Thailand
- Timah Investasi Mineral - Indoneisa
- Alfred C Toepfer International GmbH - Germany
- Power Finance Corporation Ltd., India
- Tata Chemicals Ltd - India
- San Jose City I Power Corp, Philippines
- Global Business Power Corporation, Philippines
- GVK Power & Infra Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Asmin Koalindo Tuhup - Indonesia
- Semirara Mining Corp, Philippines
- CNBM International Corporation - China
- Jindal Steel & Power Ltd - India
- Siam City Cement - Thailand
- Wilmar Investment Holdings
- Manunggal Multi Energi - Indonesia
- Formosa Plastics Group - Taiwan
- Gujarat Electricity Regulatory Commission - India
- OPG Power Generation Pvt Ltd - India
- IEA Clean Coal Centre - UK
- Simpson Spence & Young - Indonesia
- Binh Thuan Hamico - Vietnam
- Antam Resourcindo - Indonesia
- CIMB Investment Bank - Malaysia
- Commonwealth Bank - Australia
- Attock Cement Pakistan Limited
- SN Aboitiz Power Inc, Philippines
- Vizag Seaport Private Limited - India
- VISA Power Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Banpu Public Company Limited - Thailand
- Indian Energy Exchange, India
- Samtan Co., Ltd - South Korea
- Romanian Commodities Exchange
- Billiton Holdings Pty Ltd - Australia
- Eastern Coal Council - USA
- Kumho Petrochemical, South Korea
- Sindya Power Generating Company Private Ltd
- Merrill Lynch Commodities Europe
- Aditya Birla Group - India
- Indian Oil Corporation Limited
- Oldendorff Carriers - Singapore
- Bahari Cakrawala Sebuku - Indonesia
- Sical Logistics Limited - India
- PTC India Limited - India
- Videocon Industries ltd - India
- Madhucon Powers Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Barasentosa Lestari - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Sarangani Energy Corporation, Philippines
- Indogreen Group - Indonesia
- Larsen & Toubro Limited - India
- Bukit Baiduri Energy - Indonesia
- Parry Sugars Refinery, India
- Cement Manufacturers Association - India
- Dalmia Cement Bharat India
- Lanco Infratech Ltd - India
- Siam City Cement PLC, Thailand
- Star Paper Mills Limited - India
- The University of Queensland
- Tamil Nadu electricity Board
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bharathi Cement Corporation - India
- Leighton Contractors Pty Ltd - Australia
- Ministry of Finance - Indonesia
- Agrawal Coal Company - India
- Bhatia International Limited - India
- Kaltim Prima Coal - Indonesia
- Kobexindo Tractors - Indoneisa
- European Bulk Services B.V. - Netherlands
- Miang Besar Coal Terminal - Indonesia
- Standard Chartered Bank - UAE
- Energy Link Ltd, New Zealand
- Planning Commission, India
- Africa Commodities Group - South Africa
- Kideco Jaya Agung - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Interocean Group of Companies - India
- Toyota Tsusho Corporation, Japan
- Jaiprakash Power Ventures ltd
- Cigading International Bulk Terminal - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kepco SPC Power Corporation, Philippines
- Coal and Oil Company - UAE
- Ind-Barath Power Infra Limited - India
- MS Steel International - UAE
- Maheswari Brothers Coal Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Latin American Coal - Colombia
- TNB Fuel Sdn Bhd - Malaysia
- Bhushan Steel Limited - India
- PetroVietnam Power Coal Import and Supply Company
- GMR Energy Limited - India
- Mjunction Services Limited - India
- ASAPP Information Group - India
- Straits Asia Resources Limited - Singapore
- Medco Energi Mining Internasional
- Krishnapatnam Port Company Ltd. - India
- Heidelberg Cement - Germany
- Pendopo Energi Batubara - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Australian Coal Association
- Carbofer General Trading SA - India
- Therma Luzon, Inc, Philippines
- Altura Mining Limited, Indonesia
- Thai Mozambique Logistica
- Parliament of New Zealand
- Neyveli Lignite Corporation Ltd, - India
- Semirara Mining and Power Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- Essar Steel Hazira Ltd - India
- Central Java Power - Indonesia
- LBH Netherlands Bv - Netherlands
- Edison Trading Spa - Italy
- Bangladesh Power Developement Board
- Holcim Trading Pte Ltd - Singapore
- Thiess Contractors Indonesia
- Eastern Energy - Thailand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Directorate Of Revenue Intelligence - India
- Aboitiz Power Corporation - Philippines
- Meenaskhi Energy Private Limited - India
- ICICI Bank Limited - India
- Economic Council, Georgia
- Global Green Power PLC Corporation, Philippines
- Sakthi Sugars Limited - India
- Georgia Ports Authority, United States
- Ambuja Cements Ltd - India
- South Luzon Thermal Energy Corporation
- Kalimantan Lumbung Energi - Indonesia
- PNOC Exploration Corporation - Philippines
- The Treasury - Australian Government
- Meralco Power Generation, Philippines
- Australian Commodity Traders Exchange
- The State Trading Corporation of India Ltd
- Intertek Mineral Services - Indonesia
- Coastal Gujarat Power Limited - India
- Borneo Indobara - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Renaissance Capital - South Africa
- Vedanta Resources Plc - India
- Vijayanagar Sugar Pvt Ltd - India
- Trasteel International SA, Italy
- Chamber of Mines of South Africa
- Coalindo Energy - Indonesia
- IHS Mccloskey Coal Group - USA
- Ministry of Mines - Canada
- Indonesian Coal Mining Association
- Sree Jayajothi Cements Limited - India
- Karaikal Port Pvt Ltd - India
- Wood Mackenzie - Singapore
- Rio Tinto Coal - Australia
- Ceylon Electricity Board - Sri Lanka
- Minerals Council of Australia
- PowerSource Philippines DevCo
- Makarim & Taira - Indonesia
- New Zealand Coal & Carbon
- Karbindo Abesyapradhi - Indoneisa
- Orica Mining Services - Indonesia
- Bulk Trading Sa - Switzerland
- Xindia Steels Limited - India
- Electricity Authority, New Zealand
- Uttam Galva Steels Limited - India
- Global Coal Blending Company Limited - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Sojitz Corporation - Japan
- Marubeni Corporation - India
- Savvy Resources Ltd - HongKong
- Mercator Lines Limited - India
- Bhoruka Overseas - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Posco Energy - South Korea
- India Bulls Power Limited - India
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