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