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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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Tuesday, 30 August 11
FAUJI CEMENT CONSUMED MORE THAN 1 MILLION TONS OF LOCAL COAL
Cooper Minerals Inc.based in Vancouver, BC, Canada, is a junior exploration company engaged in the acquisition, exploration and development of miner ...
Sunday, 28 August 11
FREIGHT MARKET COULD BE FIRM NEXT MONTH - VISTAAR
COALspot.com - The freight market continued the upward trend first half of the week . However, towards the end of the week lost momentum and the BDI ...
Saturday, 27 August 11
JAPANESE BULK CARRIER SETS RECORD ON NORTHERN SEA ROUTE - BARENTS OBSERVER
The Northern Sea Route will see its third record in less than a month when the largest ever bulk carrier to take the route leaves Murmansk next week ...
Saturday, 27 August 11
RBCT-INDIA ROUNDS FIXED AT AROUND US$ 12K - FEARNBULK
Handy
Stable but very positional markets across all segments in the Atlantic: the gap between owners and charterers rate ideas is building up as o ...
Friday, 26 August 11
TUAH TURANGGA AGUNG ACQUIRES AN ADDITIONAL 40% SHARES IN BARA PRIMA AGUNG
COALspot.com - PT Tuah Turangga Agung, a subsidiary of PT United Tractors Tbk, has signed an acquisition agreement to acquire 40% of PT Bara Prima A ...
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- Gujarat Mineral Development Corp Ltd - India
- Global Coal Blending Company Limited - Australia
- Orica Mining Services - Indonesia
- Kumho Petrochemical, South Korea
- Anglo American - United Kingdom
- San Jose City I Power Corp, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- SMG Consultants - Indonesia
- Ministry of Transport, Egypt
- Goldman Sachs - Singapore
- Neyveli Lignite Corporation Ltd, - India
- Orica Australia Pty. Ltd.
- Bhatia International Limited - India
- GAC Shipping (India) Pvt Ltd
- Indo Tambangraya Megah - Indonesia
- The Treasury - Australian Government
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Samtan Co., Ltd - South Korea
- Singapore Mercantile Exchange
- Leighton Contractors Pty Ltd - Australia
- Semirara Mining Corp, Philippines
- Indika Energy - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Star Paper Mills Limited - India
- Ministry of Mines - Canada
- Price Waterhouse Coopers - Russia
- Parry Sugars Refinery, India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kobexindo Tractors - Indoneisa
- Therma Luzon, Inc, Philippines
- Central Java Power - Indonesia
- Sindya Power Generating Company Private Ltd
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Wilmar Investment Holdings
- AsiaOL BioFuels Corp., Philippines
- Mintek Dendrill Indonesia
- Ceylon Electricity Board - Sri Lanka
- IEA Clean Coal Centre - UK
- GMR Energy Limited - India
- VISA Power Limited - India
- Semirara Mining and Power Corporation, Philippines
- Simpson Spence & Young - Indonesia
- Baramulti Group, Indonesia
- Indonesian Coal Mining Association
- Agrawal Coal Company - India
- GN Power Mariveles Coal Plant, Philippines
- Independent Power Producers Association of India
- Bahari Cakrawala Sebuku - Indonesia
- Cement Manufacturers Association - India
- Merrill Lynch Commodities Europe
- Kideco Jaya Agung - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Miang Besar Coal Terminal - Indonesia
- Renaissance Capital - South Africa
- Kaltim Prima Coal - Indonesia
- Makarim & Taira - Indonesia
- Antam Resourcindo - Indonesia
- Karaikal Port Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- Xindia Steels Limited - India
- Bangladesh Power Developement Board
- ASAPP Information Group - India
- Sical Logistics Limited - India
- Edison Trading Spa - Italy
- Rashtriya Ispat Nigam Limited - India
- Iligan Light & Power Inc, Philippines
- Carbofer General Trading SA - India
- Trasteel International SA, Italy
- Cigading International Bulk Terminal - Indonesia
- Bukit Baiduri Energy - Indonesia
- Globalindo Alam Lestari - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- The University of Queensland
- Videocon Industries ltd - India
- Thiess Contractors Indonesia
- Petron Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- SN Aboitiz Power Inc, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- European Bulk Services B.V. - Netherlands
- SMC Global Power, Philippines
- Barasentosa Lestari - Indonesia
- Manunggal Multi Energi - Indonesia
- Sree Jayajothi Cements Limited - India
- PTC India Limited - India
- Savvy Resources Ltd - HongKong
- Heidelberg Cement - Germany
- Eastern Coal Council - USA
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Port Waratah Coal Services - Australia
- Energy Link Ltd, New Zealand
- Grasim Industreis Ltd - India
- New Zealand Coal & Carbon
- Bayan Resources Tbk. - Indonesia
- Interocean Group of Companies - India
- Borneo Indobara - Indonesia
- Siam City Cement - Thailand
- Binh Thuan Hamico - Vietnam
- OPG Power Generation Pvt Ltd - India
- Coal and Oil Company - UAE
- Central Electricity Authority - India
- Metalloyd Limited - United Kingdom
- Asmin Koalindo Tuhup - Indonesia
- Aboitiz Power Corporation - Philippines
- Deloitte Consulting - India
- ICICI Bank Limited - India
- Vedanta Resources Plc - India
- Coalindo Energy - Indonesia
- Altura Mining Limited, Indonesia
- White Energy Company Limited
- Directorate Of Revenue Intelligence - India
- Larsen & Toubro Limited - India
- Coastal Gujarat Power Limited - India
- Chettinad Cement Corporation Ltd - India
- LBH Netherlands Bv - Netherlands
- Rio Tinto Coal - Australia
- Ambuja Cements Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Sakthi Sugars Limited - India
- Malabar Cements Ltd - India
- Sojitz Corporation - Japan
- Alfred C Toepfer International GmbH - Germany
- Kepco SPC Power Corporation, Philippines
- Romanian Commodities Exchange
- Salva Resources Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- The State Trading Corporation of India Ltd
- Maharashtra Electricity Regulatory Commission - India
- Latin American Coal - Colombia
- Electricity Generating Authority of Thailand
- Commonwealth Bank - Australia
- Siam City Cement PLC, Thailand
- Jindal Steel & Power Ltd - India
- Pendopo Energi Batubara - Indonesia
- Mercuria Energy - Indonesia
- Power Finance Corporation Ltd., India
- Mercator Lines Limited - India
- Global Business Power Corporation, Philippines
- Bulk Trading Sa - Switzerland
- Georgia Ports Authority, United States
- PNOC Exploration Corporation - Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Indian Energy Exchange, India
- PowerSource Philippines DevCo
- Vijayanagar Sugar Pvt Ltd - India
- Bhushan Steel Limited - India
- Sarangani Energy Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Ind-Barath Power Infra Limited - India
- Chamber of Mines of South Africa
- Wood Mackenzie - Singapore
- Eastern Energy - Thailand
- CNBM International Corporation - China
- Lanco Infratech Ltd - India
- Meenaskhi Energy Private Limited - India
- Indian Oil Corporation Limited
- Sinarmas Energy and Mining - Indonesia
- Ministry of Finance - Indonesia
- Uttam Galva Steels Limited - India
- Indogreen Group - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Australian Commodity Traders Exchange
- MS Steel International - UAE
- Oldendorff Carriers - Singapore
- Bhoruka Overseas - Indonesia
- Standard Chartered Bank - UAE
- Gujarat Sidhee Cement - India
- Meralco Power Generation, Philippines
- Toyota Tsusho Corporation, Japan
- Kartika Selabumi Mining - Indonesia
- Minerals Council of Australia
- Australian Coal Association
- Mjunction Services Limited - India
- Economic Council, Georgia
- Dalmia Cement Bharat India
- Marubeni Corporation - India
- Banpu Public Company Limited - Thailand
- Africa Commodities Group - South Africa
- Kapuas Tunggal Persada - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Jaiprakash Power Ventures ltd
- Bharathi Cement Corporation - India
- Kalimantan Lumbung Energi - Indonesia
- Intertek Mineral Services - Indonesia
- Global Green Power PLC Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- Attock Cement Pakistan Limited
- McConnell Dowell - Australia
- Medco Energi Mining Internasional
- Riau Bara Harum - Indonesia
- Holcim Trading Pte Ltd - Singapore
- IHS Mccloskey Coal Group - USA
- Vizag Seaport Private Limited - India
- GVK Power & Infra Limited - India
- TeaM Sual Corporation - Philippines
- Essar Steel Hazira Ltd - India
- London Commodity Brokers - England
- India Bulls Power Limited - India
- International Coal Ventures Pvt Ltd - India
- Thai Mozambique Logistica
- Karbindo Abesyapradhi - Indoneisa
- Tamil Nadu electricity Board
- Madhucon Powers Ltd - India
- Maheswari Brothers Coal Limited - India
- Planning Commission, India
- CIMB Investment Bank - Malaysia
- Gujarat Electricity Regulatory Commission - India
- Posco Energy - South Korea
- Aditya Birla Group - India
- Timah Investasi Mineral - Indoneisa
- South Luzon Thermal Energy Corporation
- Parliament of New Zealand
- Energy Development Corp, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Electricity Authority, New Zealand
- Tata Chemicals Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
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