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