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