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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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Wednesday, 17 August 11
BUMI'S H1 UNDERLYING OPERATING PROFIT $62 MILLION
COALspot.com - Bumi PLC , posted underlying first-half operating profit of $62 million and production at PT Bumi Resources and PT Berau increased to ...
Wednesday, 17 August 11
SHIP OWNERS COULD FACE PAIN ON THE BACK OF GLOOMY ECONOMYS PREDICTIONS - HELLENIC SHIPPING
The latest market turmoil, coupled with the renewed risk of a global recession could very well signal more troubled times for ship owners of all shi ...
Tuesday, 16 August 11
CHALLENGER ENTERED INTO CSPA WITH PELANGI KERTANEGARA TO ACQUIRE 100% STAKE
COALspot.com - Challenger Deep Resources Corp., through its wholly owned subsidiary, P.T. Bestindo Energy, has exercised its option to purchase an a ...
Monday, 15 August 11
ADARO ENERGYS NET INCOME MORE THAN DOUBLES IN FIRST HALF 2011
COALspot.com - Indonesian’s second largest coal producer, Adaro Energy, booked net profit US$ 268 million in the first half 2011, rose two-fol ...
Monday, 15 August 11
INDIAS MALABAR CEMENTS SEEK TO IMPORT 40,000 TONS OF COAL
COALspot.com - Malabar Cements Ltd., India's Keralaa government owned cement factory is seeking to import 40K metric tons of non-coking coal throug ...
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- Cigading International Bulk Terminal - Indonesia
- Global Green Power PLC Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- Energy Link Ltd, New Zealand
- Indian Energy Exchange, India
- Timah Investasi Mineral - Indoneisa
- Marubeni Corporation - India
- LBH Netherlands Bv - Netherlands
- Mintek Dendrill Indonesia
- Essar Steel Hazira Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Miang Besar Coal Terminal - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Therma Luzon, Inc, Philippines
- Bukit Makmur.PT - Indonesia
- Coastal Gujarat Power Limited - India
- Savvy Resources Ltd - HongKong
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Attock Cement Pakistan Limited
- Siam City Cement - Thailand
- Thai Mozambique Logistica
- New Zealand Coal & Carbon
- Iligan Light & Power Inc, Philippines
- Cement Manufacturers Association - India
- IEA Clean Coal Centre - UK
- Metalloyd Limited - United Kingdom
- Independent Power Producers Association of India
- Coal and Oil Company - UAE
- Standard Chartered Bank - UAE
- Leighton Contractors Pty Ltd - Australia
- Parry Sugars Refinery, India
- Kalimantan Lumbung Energi - Indonesia
- CIMB Investment Bank - Malaysia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Altura Mining Limited, Indonesia
- Africa Commodities Group - South Africa
- Agrawal Coal Company - India
- Samtan Co., Ltd - South Korea
- Pipit Mutiara Jaya. PT, Indonesia
- Orica Australia Pty. Ltd.
- Australian Coal Association
- Posco Energy - South Korea
- Eastern Coal Council - USA
- Rio Tinto Coal - Australia
- Bayan Resources Tbk. - Indonesia
- Tamil Nadu electricity Board
- Meenaskhi Energy Private Limited - India
- Planning Commission, India
- Ministry of Transport, Egypt
- Anglo American - United Kingdom
- Energy Development Corp, Philippines
- McConnell Dowell - Australia
- Aditya Birla Group - India
- Asmin Koalindo Tuhup - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- White Energy Company Limited
- Jorong Barutama Greston.PT - Indonesia
- Karaikal Port Pvt Ltd - India
- Interocean Group of Companies - India
- Mjunction Services Limited - India
- Ministry of Mines - Canada
- Kobexindo Tractors - Indoneisa
- Grasim Industreis Ltd - India
- Makarim & Taira - Indonesia
- San Jose City I Power Corp, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Jindal Steel & Power Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- South Luzon Thermal Energy Corporation
- Formosa Plastics Group - Taiwan
- Petrochimia International Co. Ltd.- Taiwan
- Vijayanagar Sugar Pvt Ltd - India
- Larsen & Toubro Limited - India
- Globalindo Alam Lestari - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Toyota Tsusho Corporation, Japan
- Bukit Baiduri Energy - Indonesia
- Bhushan Steel Limited - India
- Semirara Mining and Power Corporation, Philippines
- Latin American Coal - Colombia
- Deloitte Consulting - India
- Sakthi Sugars Limited - India
- Billiton Holdings Pty Ltd - Australia
- Commonwealth Bank - Australia
- Indian Oil Corporation Limited
- Madhucon Powers Ltd - India
- Coalindo Energy - Indonesia
- Bhatia International Limited - India
- Semirara Mining Corp, Philippines
- Indika Energy - Indonesia
- MS Steel International - UAE
- Aboitiz Power Corporation - Philippines
- Rashtriya Ispat Nigam Limited - India
- Meralco Power Generation, Philippines
- European Bulk Services B.V. - Netherlands
- AsiaOL BioFuels Corp., Philippines
- Sindya Power Generating Company Private Ltd
- Ambuja Cements Ltd - India
- Vedanta Resources Plc - India
- Barasentosa Lestari - Indonesia
- Georgia Ports Authority, United States
- Kumho Petrochemical, South Korea
- Bukit Asam (Persero) Tbk - Indonesia
- India Bulls Power Limited - India
- Ceylon Electricity Board - Sri Lanka
- Asia Pacific Energy Resources Ventures Inc, Philippines
- ASAPP Information Group - India
- OPG Power Generation Pvt Ltd - India
- Electricity Authority, New Zealand
- Singapore Mercantile Exchange
- Bhoruka Overseas - Indonesia
- Merrill Lynch Commodities Europe
- Orica Mining Services - Indonesia
- Bangladesh Power Developement Board
- Offshore Bulk Terminal Pte Ltd, Singapore
- Renaissance Capital - South Africa
- Bulk Trading Sa - Switzerland
- Mercator Lines Limited - India
- Global Business Power Corporation, Philippines
- Power Finance Corporation Ltd., India
- International Coal Ventures Pvt Ltd - India
- Riau Bara Harum - Indonesia
- Dalmia Cement Bharat India
- Carbofer General Trading SA - India
- Intertek Mineral Services - Indonesia
- The University of Queensland
- Wood Mackenzie - Singapore
- Heidelberg Cement - Germany
- Bahari Cakrawala Sebuku - Indonesia
- Goldman Sachs - Singapore
- Directorate Of Revenue Intelligence - India
- The Treasury - Australian Government
- Indonesian Coal Mining Association
- Economic Council, Georgia
- Maheswari Brothers Coal Limited - India
- The State Trading Corporation of India Ltd
- Wilmar Investment Holdings
- Medco Energi Mining Internasional
- VISA Power Limited - India
- Sojitz Corporation - Japan
- Salva Resources Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- Pendopo Energi Batubara - Indonesia
- Sical Logistics Limited - India
- Jaiprakash Power Ventures ltd
- Gujarat Electricity Regulatory Commission - India
- Sarangani Energy Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Borneo Indobara - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Ministry of Finance - Indonesia
- London Commodity Brokers - England
- SMG Consultants - Indonesia
- Malabar Cements Ltd - India
- TeaM Sual Corporation - Philippines
- Central Electricity Authority - India
- ICICI Bank Limited - India
- Kartika Selabumi Mining - Indonesia
- Electricity Generating Authority of Thailand
- CNBM International Corporation - China
- Oldendorff Carriers - Singapore
- Gujarat Mineral Development Corp Ltd - India
- PNOC Exploration Corporation - Philippines
- Kapuas Tunggal Persada - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Minerals Council of Australia
- GVK Power & Infra Limited - India
- PTC India Limited - India
- Indogreen Group - Indonesia
- Videocon Industries ltd - India
- SN Aboitiz Power Inc, Philippines
- Australian Commodity Traders Exchange
- Edison Trading Spa - Italy
- Petron Corporation, Philippines
- Uttam Galva Steels Limited - India
- Tata Chemicals Ltd - India
- SMC Global Power, Philippines
- Xindia Steels Limited - India
- Gujarat Sidhee Cement - India
- Port Waratah Coal Services - Australia
- Bharathi Cement Corporation - India
- Indo Tambangraya Megah - Indonesia
- Mercuria Energy - Indonesia
- GAC Shipping (India) Pvt Ltd
- Kideco Jaya Agung - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Vizag Seaport Private Limited - India
- Parliament of New Zealand
- Price Waterhouse Coopers - Russia
- Binh Thuan Hamico - Vietnam
- Trasteel International SA, Italy
- Antam Resourcindo - Indonesia
- Romanian Commodities Exchange
- Kaltim Prima Coal - Indonesia
- Chamber of Mines of South Africa
- GMR Energy Limited - India
- Star Paper Mills Limited - India
- IHS Mccloskey Coal Group - USA
- Eastern Energy - Thailand
- PowerSource Philippines DevCo
- Central Java Power - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Straits Asia Resources Limited - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Lanco Infratech Ltd - India
- Sree Jayajothi Cements Limited - India
- Manunggal Multi Energi - Indonesia
- Simpson Spence & Young - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Kepco SPC Power Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- Baramulti Group, Indonesia
- Global Coal Blending Company Limited - Australia
- Thiess Contractors Indonesia
- Siam City Cement PLC, Thailand
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