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