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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, 23 August 11
COAL DEMAND IS REMAINED STRONG IN SPITE OF CURRENT GLOBAL ECONOMIC UNCERTAINTY - BUMI
COALspot.com - Indonesia's largest coal producer, PT Bumi Resources, Tbk (BUMI)'s sales revenue has increased to US$1.79 billion (compared with US ...
Tuesday, 23 August 11
PENRHYN COAL USING EVERGREEN ENERGYS COAL UPGRADING PROCESS
Evergreen Energy Inc has announced the successful testing results of the initial batches of Penrhyn coal using Evergreen Energy’s coal upgradi ...
Tuesday, 23 August 11
A SHARP INCREASE IN THE BDI - BRS
A sharp increase in the BDI this week, driven by the rise in Capesize rates. Overall the BDI was up 13.5% to 1,462 points on the back of a 20% surge ...
Monday, 22 August 11
INDONESIA TO BAN BELOW 5700 KCAL/KG COAL FOR EXPORT
COALspot.com - Ministry of Energy and Mineral Resources of Indonesia is in the process of drafting a regulation which is requiring mine owners ...
Monday, 22 August 11
NTPC TO IMPORT 16 MILLION TON OF COAL TO BRIDGE THE GAP
COALspot.com - NTPC to import 16 million tons of imported coal, which is equivalent to 23-24 million tons of Indian coal to bridge the gap.
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- Deloitte Consulting - India
- Coal and Oil Company - UAE
- Indian Oil Corporation Limited
- Karbindo Abesyapradhi - Indoneisa
- Star Paper Mills Limited - India
- Kaltim Prima Coal - Indonesia
- Semirara Mining and Power Corporation, Philippines
- London Commodity Brokers - England
- Riau Bara Harum - Indonesia
- Central Java Power - Indonesia
- Gujarat Sidhee Cement - India
- Australian Coal Association
- International Coal Ventures Pvt Ltd - India
- Chamber of Mines of South Africa
- ASAPP Information Group - India
- Commonwealth Bank - Australia
- McConnell Dowell - Australia
- GAC Shipping (India) Pvt Ltd
- SN Aboitiz Power Inc, Philippines
- Australian Commodity Traders Exchange
- Gujarat Mineral Development Corp Ltd - India
- Bhatia International Limited - India
- Medco Energi Mining Internasional
- Essar Steel Hazira Ltd - India
- Indonesian Coal Mining Association
- Dalmia Cement Bharat India
- Mintek Dendrill Indonesia
- Kalimantan Lumbung Energi - Indonesia
- SMG Consultants - Indonesia
- Barasentosa Lestari - Indonesia
- Maheswari Brothers Coal Limited - India
- Karaikal Port Pvt Ltd - India
- Merrill Lynch Commodities Europe
- Grasim Industreis Ltd - India
- Intertek Mineral Services - Indonesia
- IEA Clean Coal Centre - UK
- PTC India Limited - India
- Manunggal Multi Energi - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- PNOC Exploration Corporation - Philippines
- Binh Thuan Hamico - Vietnam
- Orica Australia Pty. Ltd.
- Energy Development Corp, Philippines
- Pendopo Energi Batubara - Indonesia
- Samtan Co., Ltd - South Korea
- Salva Resources Pvt Ltd - India
- Thiess Contractors Indonesia
- Electricity Generating Authority of Thailand
- Metalloyd Limited - United Kingdom
- Leighton Contractors Pty Ltd - Australia
- Bulk Trading Sa - Switzerland
- Bharathi Cement Corporation - India
- India Bulls Power Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Coalindo Energy - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Posco Energy - South Korea
- Bukit Makmur.PT - Indonesia
- Parliament of New Zealand
- Directorate Of Revenue Intelligence - India
- Chettinad Cement Corporation Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Indian Energy Exchange, India
- Carbofer General Trading SA - India
- LBH Netherlands Bv - Netherlands
- Central Electricity Authority - India
- Trasteel International SA, Italy
- Interocean Group of Companies - India
- Attock Cement Pakistan Limited
- Sindya Power Generating Company Private Ltd
- Aditya Birla Group - India
- Cement Manufacturers Association - India
- Orica Mining Services - Indonesia
- Therma Luzon, Inc, Philippines
- Eastern Coal Council - USA
- GMR Energy Limited - India
- ICICI Bank Limited - India
- Holcim Trading Pte Ltd - Singapore
- Singapore Mercantile Exchange
- TNB Fuel Sdn Bhd - Malaysia
- Global Green Power PLC Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- Edison Trading Spa - Italy
- Aboitiz Power Corporation - Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bahari Cakrawala Sebuku - Indonesia
- Baramulti Group, Indonesia
- Indogreen Group - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Jaiprakash Power Ventures ltd
- Sakthi Sugars Limited - India
- Cigading International Bulk Terminal - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Jindal Steel & Power Ltd - India
- Romanian Commodities Exchange
- Malabar Cements Ltd - India
- Marubeni Corporation - India
- Goldman Sachs - Singapore
- The State Trading Corporation of India Ltd
- Ind-Barath Power Infra Limited - India
- Ministry of Transport, Egypt
- Savvy Resources Ltd - HongKong
- CIMB Investment Bank - Malaysia
- Petrochimia International Co. Ltd.- Taiwan
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Planning Commission, India
- Rio Tinto Coal - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- CNBM International Corporation - China
- Latin American Coal - Colombia
- Bukit Baiduri Energy - Indonesia
- Globalindo Alam Lestari - Indonesia
- New Zealand Coal & Carbon
- Altura Mining Limited, Indonesia
- Makarim & Taira - Indonesia
- Energy Link Ltd, New Zealand
- Global Coal Blending Company Limited - Australia
- Sree Jayajothi Cements Limited - India
- GN Power Mariveles Coal Plant, Philippines
- OPG Power Generation Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- VISA Power Limited - India
- Kumho Petrochemical, South Korea
- Sojitz Corporation - Japan
- Madhucon Powers Ltd - India
- White Energy Company Limited
- Wilmar Investment Holdings
- Indika Energy - Indonesia
- PowerSource Philippines DevCo
- Formosa Plastics Group - Taiwan
- Ceylon Electricity Board - Sri Lanka
- Anglo American - United Kingdom
- Economic Council, Georgia
- Bangladesh Power Developement Board
- Tata Chemicals Ltd - India
- Heidelberg Cement - Germany
- European Bulk Services B.V. - Netherlands
- Coastal Gujarat Power Limited - India
- Thai Mozambique Logistica
- Iligan Light & Power Inc, Philippines
- Independent Power Producers Association of India
- Wood Mackenzie - Singapore
- Semirara Mining Corp, Philippines
- Ministry of Finance - Indonesia
- Videocon Industries ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Billiton Holdings Pty Ltd - Australia
- Uttam Galva Steels Limited - India
- Price Waterhouse Coopers - Russia
- Kohat Cement Company Ltd. - Pakistan
- Agrawal Coal Company - India
- Larsen & Toubro Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- TeaM Sual Corporation - Philippines
- IHS Mccloskey Coal Group - USA
- Miang Besar Coal Terminal - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Electricity Authority, New Zealand
- Standard Chartered Bank - UAE
- Kartika Selabumi Mining - Indonesia
- Siam City Cement PLC, Thailand
- Straits Asia Resources Limited - Singapore
- Lanco Infratech Ltd - India
- San Jose City I Power Corp, Philippines
- Siam City Cement - Thailand
- Mjunction Services Limited - India
- Kobexindo Tractors - Indoneisa
- Meenaskhi Energy Private Limited - India
- South Luzon Thermal Energy Corporation
- Ambuja Cements Ltd - India
- Sarangani Energy Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Port Waratah Coal Services - Australia
- Bhoruka Overseas - Indonesia
- The Treasury - Australian Government
- Indo Tambangraya Megah - Indonesia
- Mercator Lines Limited - India
- Kapuas Tunggal Persada - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Parry Sugars Refinery, India
- Bayan Resources Tbk. - Indonesia
- The University of Queensland
- Borneo Indobara - Indonesia
- Banpu Public Company Limited - Thailand
- Georgia Ports Authority, United States
- Vizag Seaport Private Limited - India
- Alfred C Toepfer International GmbH - Germany
- Sical Logistics Limited - India
- GVK Power & Infra Limited - India
- Renaissance Capital - South Africa
- Eastern Energy - Thailand
- Directorate General of MIneral and Coal - Indonesia
- Power Finance Corporation Ltd., India
- Tamil Nadu electricity Board
- Neyveli Lignite Corporation Ltd, - India
- Mercuria Energy - Indonesia
- Bhushan Steel Limited - India
- Oldendorff Carriers - Singapore
- Africa Commodities Group - South Africa
- Simpson Spence & Young - Indonesia
- SMC Global Power, Philippines
- Minerals Council of Australia
- Xindia Steels Limited - India
- Meralco Power Generation, Philippines
- Petron Corporation, Philippines
- Vedanta Resources Plc - India
- Kepco SPC Power Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Global Business Power Corporation, Philippines
- Ministry of Mines - Canada
- Maharashtra Electricity Regulatory Commission - India
- MS Steel International - UAE
- Kideco Jaya Agung - Indonesia
- Antam Resourcindo - Indonesia
- Toyota Tsusho Corporation, Japan
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