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