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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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Monday, 22 August 11
MACRO ECONOMICS - PETER SAND BIMCO / HELLENIC SHIPPING
The US is jeopardising the global recovery as job creation remains top challenge across the board.
Global economy: While growth in most emerging ...
Sunday, 21 August 11
SUPRAMAX AVAILABILITY WAS TIGHT DUE TO UPCOMING RAMADAN HOLIDAYS
COALspot.com - The financial markets have been in turmoil with all major stock exchanges down and uncertainty prevails. However the shipping market ...
Sunday, 21 August 11
TUAH TURANGGA ACQUIRES DUTA NURCAHYA
Coal miner PT Tuah Turangga Agung, a wholly owned subsidiary of PT United Tractors Tbk (UNTR) via PT Pamapersada Nusantara), has agreed to acquire 6 ...
Friday, 19 August 11
INDIAS CICTL HAS ACHIEVED ONE MILLION TONS OF DISCHARGE
COALspot.com - Chettinad International Coal Terminal (CICTL) in Ennore port, a state of the art mechanized coal terminal, which was inaugurated on 28t ...
Friday, 19 August 11
AUSTRALIAS' ATH TO ACQUIRE 60% OF APUAH COAL MINE IN INDONESIA
COALspot.com - Australian listed company, Atech Holdings Limited (ATH) has entered into a conditional binding term sheet to acquire 60 percent stake ...
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- Bhatia International Limited - India
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- Medco Energi Mining Internasional
- European Bulk Services B.V. - Netherlands
- Ministry of Mines - Canada
- Kartika Selabumi Mining - Indonesia
- PNOC Exploration Corporation - Philippines
- LBH Netherlands Bv - Netherlands
- Pendopo Energi Batubara - Indonesia
- Indika Energy - Indonesia
- Singapore Mercantile Exchange
- Manunggal Multi Energi - Indonesia
- Semirara Mining Corp, Philippines
- Anglo American - United Kingdom
- Vedanta Resources Plc - India
- Tata Chemicals Ltd - India
- TeaM Sual Corporation - Philippines
- Global Business Power Corporation, Philippines
- Petron Corporation, Philippines
- Parliament of New Zealand
- Petrochimia International Co. Ltd.- Taiwan
- Planning Commission, India
- Electricity Generating Authority of Thailand
- Therma Luzon, Inc, Philippines
- Sical Logistics Limited - India
- Tamil Nadu electricity Board
- The Treasury - Australian Government
- Coastal Gujarat Power Limited - India
- Meenaskhi Energy Private Limited - India
- Merrill Lynch Commodities Europe
- Interocean Group of Companies - India
- Semirara Mining and Power Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- Thai Mozambique Logistica
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- Electricity Authority, New Zealand
- Port Waratah Coal Services - Australia
- Independent Power Producers Association of India
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- Uttam Galva Steels Limited - India
- Bulk Trading Sa - Switzerland
- Ministry of Finance - Indonesia
- Commonwealth Bank - Australia
- Agrawal Coal Company - India
- Cigading International Bulk Terminal - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Eastern Coal Council - USA
- Meralco Power Generation, Philippines
- International Coal Ventures Pvt Ltd - India
- Edison Trading Spa - Italy
- Alfred C Toepfer International GmbH - Germany
- Kepco SPC Power Corporation, Philippines
- Australian Commodity Traders Exchange
- OPG Power Generation Pvt Ltd - India
- Kumho Petrochemical, South Korea
- Indogreen Group - Indonesia
- Minerals Council of Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Rio Tinto Coal - Australia
- Sindya Power Generating Company Private Ltd
- Jaiprakash Power Ventures ltd
- Orica Australia Pty. Ltd.
- Indonesian Coal Mining Association
- Power Finance Corporation Ltd., India
- Central Electricity Authority - India
- The University of Queensland
- Sojitz Corporation - Japan
- Thiess Contractors Indonesia
- Romanian Commodities Exchange
- Banpu Public Company Limited - Thailand
- Miang Besar Coal Terminal - Indonesia
- Bhoruka Overseas - Indonesia
- Oldendorff Carriers - Singapore
- Chamber of Mines of South Africa
- Standard Chartered Bank - UAE
- Makarim & Taira - Indonesia
- Parry Sugars Refinery, India
- McConnell Dowell - Australia
- Coalindo Energy - Indonesia
- GMR Energy Limited - India
- Kobexindo Tractors - Indoneisa
- Mjunction Services Limited - India
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- GVK Power & Infra Limited - India
- ICICI Bank Limited - India
- Trasteel International SA, Italy
- CNBM International Corporation - China
- Wood Mackenzie - Singapore
- Bukit Makmur.PT - Indonesia
- VISA Power Limited - India
- New Zealand Coal & Carbon
- Samtan Co., Ltd - South Korea
- Straits Asia Resources Limited - Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- Salva Resources Pvt Ltd - India
- Indian Energy Exchange, India
- Indian Oil Corporation Limited
- SMC Global Power, Philippines
- Chettinad Cement Corporation Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Bukit Baiduri Energy - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Dalmia Cement Bharat India
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- Energy Development Corp, Philippines
- Attock Cement Pakistan Limited
- Energy Link Ltd, New Zealand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Directorate Of Revenue Intelligence - India
- PowerSource Philippines DevCo
- Intertek Mineral Services - Indonesia
- Marubeni Corporation - India
- Neyveli Lignite Corporation Ltd, - India
- Sree Jayajothi Cements Limited - India
- Carbofer General Trading SA - India
- GN Power Mariveles Coal Plant, Philippines
- Kaltim Prima Coal - Indonesia
- Altura Mining Limited, Indonesia
- Wilmar Investment Holdings
- SN Aboitiz Power Inc, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Eastern Energy - Thailand
- Billiton Holdings Pty Ltd - Australia
- Toyota Tsusho Corporation, Japan
- Mintek Dendrill Indonesia
- India Bulls Power Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Deloitte Consulting - India
- Global Green Power PLC Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- Borneo Indobara - Indonesia
- Georgia Ports Authority, United States
- Rashtriya Ispat Nigam Limited - India
- GAC Shipping (India) Pvt Ltd
- Lanco Infratech Ltd - India
- Latin American Coal - Colombia
- IHS Mccloskey Coal Group - USA
- Economic Council, Georgia
- Heidelberg Cement - Germany
- Sarangani Energy Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- IEA Clean Coal Centre - UK
- Binh Thuan Hamico - Vietnam
- Gujarat Mineral Development Corp Ltd - India
- Ind-Barath Power Infra Limited - India
- Coal and Oil Company - UAE
- Maheswari Brothers Coal Limited - India
- Videocon Industries ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Savvy Resources Ltd - HongKong
- Ambuja Cements Ltd - India
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- Antam Resourcindo - Indonesia
- Malabar Cements Ltd - India
- SMG Consultants - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Siam City Cement PLC, Thailand
- CIMB Investment Bank - Malaysia
- Orica Mining Services - Indonesia
- Cement Manufacturers Association - India
- Bukit Asam (Persero) Tbk - Indonesia
- Baramulti Group, Indonesia
- Larsen & Toubro Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Australian Coal Association
- Mercuria Energy - Indonesia
- Bhushan Steel Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Simpson Spence & Young - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Bahari Cakrawala Sebuku - Indonesia
- Africa Commodities Group - South Africa
- Kideco Jaya Agung - Indonesia
- Central Java Power - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Gujarat Sidhee Cement - India
- Directorate General of MIneral and Coal - Indonesia
- Riau Bara Harum - Indonesia
- PTC India Limited - India
- Indo Tambangraya Megah - Indonesia
- Bharathi Cement Corporation - India
- San Jose City I Power Corp, Philippines
- Grasim Industreis Ltd - India
- Price Waterhouse Coopers - Russia
- London Commodity Brokers - England
- Madhucon Powers Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Gujarat Electricity Regulatory Commission - India
- Goldman Sachs - Singapore
- Star Paper Mills Limited - India
- The State Trading Corporation of India Ltd
- Timah Investasi Mineral - Indoneisa
- South Luzon Thermal Energy Corporation
- Essar Steel Hazira Ltd - India
- MS Steel International - UAE
- Globalindo Alam Lestari - Indonesia
- Bayan Resources Tbk. - Indonesia
- Siam City Cement - Thailand
- White Energy Company Limited
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kalimantan Lumbung Energi - Indonesia
- Posco Energy - South Korea
- Mercator Lines Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- Kapuas Tunggal Persada - Indonesia
- Ministry of Transport, Egypt
- Xindia Steels Limited - India
- Aditya Birla Group - India
- Metalloyd Limited - United Kingdom
- Kohat Cement Company Ltd. - Pakistan
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