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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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Friday, 26 August 11
INTRACO EYES US$200 MIO COAL TAKEOVER - INSIDER STORIES
Heavy equipment distributor PT Intraco Penta Tbk, that was founded by Halex Halim, is scouting a coal acquisition with the valuation above US$200 mi ...
Thursday, 25 August 11
OPG EXPECTS COAL PRICES TO REMAIN FIRM IN THE SHORT TERM
COALspot.com - Revenue of OPG, the developer and operator of Group Captive power plants in India up 188% to £33.15m and Income from continuing ...
Thursday, 25 August 11
PAITON POWER LOOKING FOR 3.96 MILLION TONS OF COAL
COALspot.com - PT Pembangkit Jawa Bali (PJB) is looking for 3.96 million tons coal with calorific value 4,800 kcal/kg on as received basis. Accordin ...
Tuesday, 23 August 11
ICMA CALLS GOVERNMENT TO REVIEW EXPORT BAN REGULATION
COALspot.com - Chairman of the Indonesian Coal Mining Association (ICMA) Bob Kamandanu asks the government to review the regulation that being draft ...
Tuesday, 23 August 11
ADARO ENERGY ACQUIRES 75% STAKE OF PT MUSTIKA INDAH PERMAI FOR US$ 222.5 MILLION
COALspot.com - PT Alam Tri Abadi, a wholly owned subsidiary of PT Adaro Energy Tbk, signed a share purchase agreement to acquire a 75% stake of PT M ...
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- Indika Energy - Indonesia
- Energy Link Ltd, New Zealand
- Metalloyd Limited - United Kingdom
- PowerSource Philippines DevCo
- Jorong Barutama Greston.PT - Indonesia
- PNOC Exploration Corporation - Philippines
- Sical Logistics Limited - India
- Leighton Contractors Pty Ltd - Australia
- Semirara Mining and Power Corporation, Philippines
- Agrawal Coal Company - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Globalindo Alam Lestari - Indonesia
- ICICI Bank Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Therma Luzon, Inc, Philippines
- Chamber of Mines of South Africa
- Rashtriya Ispat Nigam Limited - India
- Coastal Gujarat Power Limited - India
- Medco Energi Mining Internasional
- Samtan Co., Ltd - South Korea
- Bahari Cakrawala Sebuku - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Ceylon Electricity Board - Sri Lanka
- Binh Thuan Hamico - Vietnam
- Anglo American - United Kingdom
- Coal and Oil Company - UAE
- Ministry of Mines - Canada
- Xindia Steels Limited - India
- Romanian Commodities Exchange
- New Zealand Coal & Carbon
- Dalmia Cement Bharat India
- Directorate Of Revenue Intelligence - India
- TNB Fuel Sdn Bhd - Malaysia
- Karaikal Port Pvt Ltd - India
- GVK Power & Infra Limited - India
- Grasim Industreis Ltd - India
- Altura Mining Limited, Indonesia
- Baramulti Group, Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Kobexindo Tractors - Indoneisa
- MS Steel International - UAE
- GN Power Mariveles Coal Plant, Philippines
- LBH Netherlands Bv - Netherlands
- Africa Commodities Group - South Africa
- Meralco Power Generation, Philippines
- Vizag Seaport Private Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Tamil Nadu electricity Board
- Cigading International Bulk Terminal - Indonesia
- Uttam Galva Steels Limited - India
- Wood Mackenzie - Singapore
- Bukit Makmur.PT - Indonesia
- Wilmar Investment Holdings
- Central Electricity Authority - India
- Essar Steel Hazira Ltd - India
- Indogreen Group - Indonesia
- Toyota Tsusho Corporation, Japan
- Trasteel International SA, Italy
- Alfred C Toepfer International GmbH - Germany
- PTC India Limited - India
- GMR Energy Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Gujarat Sidhee Cement - India
- Indonesian Coal Mining Association
- Aditya Birla Group - India
- Bukit Baiduri Energy - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- McConnell Dowell - Australia
- Electricity Authority, New Zealand
- Lanco Infratech Ltd - India
- Minerals Council of Australia
- Billiton Holdings Pty Ltd - Australia
- OPG Power Generation Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- Malabar Cements Ltd - India
- Marubeni Corporation - India
- Bharathi Cement Corporation - India
- Bulk Trading Sa - Switzerland
- Energy Development Corp, Philippines
- Bhushan Steel Limited - India
- Intertek Mineral Services - Indonesia
- Simpson Spence & Young - Indonesia
- Semirara Mining Corp, Philippines
- Merrill Lynch Commodities Europe
- Neyveli Lignite Corporation Ltd, - India
- Commonwealth Bank - Australia
- Aboitiz Power Corporation - Philippines
- Cement Manufacturers Association - India
- Kaltim Prima Coal - Indonesia
- Kideco Jaya Agung - Indonesia
- Jaiprakash Power Ventures ltd
- International Coal Ventures Pvt Ltd - India
- Mercator Lines Limited - India
- IHS Mccloskey Coal Group - USA
- Sree Jayajothi Cements Limited - India
- Banpu Public Company Limited - Thailand
- Australian Coal Association
- Indian Oil Corporation Limited
- Attock Cement Pakistan Limited
- Ind-Barath Power Infra Limited - India
- South Luzon Thermal Energy Corporation
- Formosa Plastics Group - Taiwan
- Sinarmas Energy and Mining - Indonesia
- Power Finance Corporation Ltd., India
- Deloitte Consulting - India
- The University of Queensland
- Planning Commission, India
- Asmin Koalindo Tuhup - Indonesia
- Renaissance Capital - South Africa
- Global Green Power PLC Corporation, Philippines
- Parry Sugars Refinery, India
- Vedanta Resources Plc - India
- Orica Australia Pty. Ltd.
- SN Aboitiz Power Inc, Philippines
- Bhatia International Limited - India
- Independent Power Producers Association of India
- Bayan Resources Tbk. - Indonesia
- Indo Tambangraya Megah - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Antam Resourcindo - Indonesia
- Ministry of Transport, Egypt
- Makarim & Taira - Indonesia
- Orica Mining Services - Indonesia
- Bangladesh Power Developement Board
- Petrochimia International Co. Ltd.- Taiwan
- Kartika Selabumi Mining - Indonesia
- Eastern Energy - Thailand
- TeaM Sual Corporation - Philippines
- Interocean Group of Companies - India
- PetroVietnam Power Coal Import and Supply Company
- Bhoruka Overseas - Indonesia
- Iligan Light & Power Inc, Philippines
- ASAPP Information Group - India
- SMG Consultants - Indonesia
- The Treasury - Australian Government
- White Energy Company Limited
- CNBM International Corporation - China
- Economic Council, Georgia
- Goldman Sachs - Singapore
- Larsen & Toubro Limited - India
- San Jose City I Power Corp, Philippines
- IEA Clean Coal Centre - UK
- Miang Besar Coal Terminal - Indonesia
- Eastern Coal Council - USA
- Ambuja Cements Ltd - India
- Kumho Petrochemical, South Korea
- Jindal Steel & Power Ltd - India
- London Commodity Brokers - England
- Central Java Power - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Australian Commodity Traders Exchange
- Timah Investasi Mineral - Indoneisa
- Chettinad Cement Corporation Ltd - India
- The State Trading Corporation of India Ltd
- Oldendorff Carriers - Singapore
- Mercuria Energy - Indonesia
- Pendopo Energi Batubara - Indonesia
- Rio Tinto Coal - Australia
- Sakthi Sugars Limited - India
- Barasentosa Lestari - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Thiess Contractors Indonesia
- VISA Power Limited - India
- Mintek Dendrill Indonesia
- Straits Asia Resources Limited - Singapore
- Coalindo Energy - Indonesia
- Sarangani Energy Corporation, Philippines
- Salva Resources Pvt Ltd - India
- Carbofer General Trading SA - India
- Maheswari Brothers Coal Limited - India
- AsiaOL BioFuels Corp., Philippines
- Heidelberg Cement - Germany
- Thai Mozambique Logistica
- Riau Bara Harum - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Global Coal Blending Company Limited - Australia
- Borneo Indobara - Indonesia
- Videocon Industries ltd - India
- Kapuas Tunggal Persada - Indonesia
- Price Waterhouse Coopers - Russia
- SMC Global Power, Philippines
- GAC Shipping (India) Pvt Ltd
- Madhucon Powers Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kepco SPC Power Corporation, Philippines
- Posco Energy - South Korea
- Edison Trading Spa - Italy
- Mjunction Services Limited - India
- Electricity Generating Authority of Thailand
- Gujarat Electricity Regulatory Commission - India
- Petron Corporation, Philippines
- Tata Chemicals Ltd - India
- Latin American Coal - Colombia
- Singapore Mercantile Exchange
- Siam City Cement PLC, Thailand
- Vijayanagar Sugar Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- Directorate General of MIneral and Coal - Indonesia
- Star Paper Mills Limited - India
- Savvy Resources Ltd - HongKong
- Georgia Ports Authority, United States
- Holcim Trading Pte Ltd - Singapore
- Indian Energy Exchange, India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sojitz Corporation - Japan
- Siam City Cement - Thailand
- India Bulls Power Limited - India
- Parliament of New Zealand
- Gujarat Mineral Development Corp Ltd - India
- Standard Chartered Bank - UAE
- Global Business Power Corporation, Philippines
- Ministry of Finance - Indonesia
- Manunggal Multi Energi - Indonesia
- CIMB Investment Bank - Malaysia
- Port Waratah Coal Services - Australia
- Meenaskhi Energy Private Limited - India
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