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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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Sunday, 14 August 11
SUPRAMAX CHARTER RATES SHARPLY UP - CAPT.REDDY
COALspot.com - The BDI ended positive with gains in Cape and Panamax index. The BDI was up by 1.50 pct and the cape and panamax index was up by almo ...
Saturday, 13 August 11
GMR HAS ENTERED INTO CSPA WITH GEMS TO ACQUIRE 30% STAKE
COALspot.com - GMR Infrastructure Investments (Singapore) Pte Ltd, a subsidiary of GMR Infrastructure, has signed conditional sale and purchase agre ...
Friday, 12 August 11
COAL MINERS WILL ALLOW TO CONSTRUCT MINE MOUTH POWER PLANT
COALspot.com - The government is set to draft a regulation to enable construction of steam-fired power plants (PLTU) by coal mining companies for th ...
Friday, 12 August 11
CAPESIZE DEMAND HELPS LIFTING OF DRY BULK MARKET - HELLENIC SHIPPING NEWS
The dry bulk market has recovered a small fraction of its lost ground this week, with higher returns as a result of increased capesize demand. This ...
Thursday, 11 August 11
INDO TAMBANGRAYA 1H NET PROFIT SOARS 53.09%
Coal miner PT Indo Tambangraya Megah Tbk (ITMG) today reported a 53.09% jump in net profit for the first 6 months of this year on the back of higher ...
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- Parliament of New Zealand
- Vizag Seaport Private Limited - India
- Electricity Generating Authority of Thailand
- Kartika Selabumi Mining - Indonesia
- SMC Global Power, Philippines
- Holcim Trading Pte Ltd - Singapore
- Kumho Petrochemical, South Korea
- Bukit Makmur.PT - Indonesia
- PNOC Exploration Corporation - Philippines
- Chamber of Mines of South Africa
- Chettinad Cement Corporation Ltd - India
- Singapore Mercantile Exchange
- Kobexindo Tractors - Indoneisa
- Sarangani Energy Corporation, Philippines
- Edison Trading Spa - Italy
- SMG Consultants - Indonesia
- Price Waterhouse Coopers - Russia
- Gujarat Mineral Development Corp Ltd - India
- Straits Asia Resources Limited - Singapore
- Borneo Indobara - Indonesia
- Latin American Coal - Colombia
- Timah Investasi Mineral - Indoneisa
- Riau Bara Harum - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Semirara Mining Corp, Philippines
- Sindya Power Generating Company Private Ltd
- Antam Resourcindo - Indonesia
- Planning Commission, India
- SN Aboitiz Power Inc, Philippines
- Grasim Industreis Ltd - India
- Commonwealth Bank - Australia
- Indo Tambangraya Megah - Indonesia
- Coal and Oil Company - UAE
- Ind-Barath Power Infra Limited - India
- Sinarmas Energy and Mining - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Vijayanagar Sugar Pvt Ltd - India
- Tamil Nadu electricity Board
- Rio Tinto Coal - Australia
- Sical Logistics Limited - India
- Economic Council, Georgia
- Electricity Authority, New Zealand
- Australian Commodity Traders Exchange
- Makarim & Taira - Indonesia
- Eastern Coal Council - USA
- Bangladesh Power Developement Board
- Interocean Group of Companies - India
- Kohat Cement Company Ltd. - Pakistan
- Bharathi Cement Corporation - India
- Medco Energi Mining Internasional
- Barasentosa Lestari - Indonesia
- Goldman Sachs - Singapore
- Ministry of Finance - Indonesia
- LBH Netherlands Bv - Netherlands
- Krishnapatnam Port Company Ltd. - India
- Star Paper Mills Limited - India
- Semirara Mining and Power Corporation, Philippines
- Coastal Gujarat Power Limited - India
- Bhatia International Limited - India
- Agrawal Coal Company - India
- Indian Energy Exchange, India
- Africa Commodities Group - South Africa
- Cigading International Bulk Terminal - Indonesia
- Altura Mining Limited, Indonesia
- Gujarat Electricity Regulatory Commission - India
- Therma Luzon, Inc, Philippines
- London Commodity Brokers - England
- Iligan Light & Power Inc, Philippines
- Global Green Power PLC Corporation, Philippines
- CIMB Investment Bank - Malaysia
- Coalindo Energy - Indonesia
- Mercuria Energy - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Vedanta Resources Plc - India
- Billiton Holdings Pty Ltd - Australia
- GAC Shipping (India) Pvt Ltd
- Eastern Energy - Thailand
- Madhucon Powers Ltd - India
- PowerSource Philippines DevCo
- Toyota Tsusho Corporation, Japan
- Essar Steel Hazira Ltd - India
- ASAPP Information Group - India
- Global Coal Blending Company Limited - Australia
- GMR Energy Limited - India
- Petron Corporation, Philippines
- Mintek Dendrill Indonesia
- Oldendorff Carriers - Singapore
- India Bulls Power Limited - India
- Attock Cement Pakistan Limited
- The University of Queensland
- Globalindo Alam Lestari - Indonesia
- San Jose City I Power Corp, Philippines
- White Energy Company Limited
- Parry Sugars Refinery, India
- CNBM International Corporation - China
- Ceylon Electricity Board - Sri Lanka
- Kalimantan Lumbung Energi - Indonesia
- Bhushan Steel Limited - India
- The Treasury - Australian Government
- Wood Mackenzie - Singapore
- Georgia Ports Authority, United States
- Aboitiz Power Corporation - Philippines
- Samtan Co., Ltd - South Korea
- Directorate General of MIneral and Coal - Indonesia
- Larsen & Toubro Limited - India
- Karaikal Port Pvt Ltd - India
- GVK Power & Infra Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Maheswari Brothers Coal Limited - India
- ICICI Bank Limited - India
- PTC India Limited - India
- VISA Power Limited - India
- Videocon Industries ltd - India
- Jaiprakash Power Ventures ltd
- Ambuja Cements Ltd - India
- Romanian Commodities Exchange
- Ministry of Transport, Egypt
- Bank of Tokyo Mitsubishi UFJ Ltd
- Simpson Spence & Young - Indonesia
- Bayan Resources Tbk. - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Carbofer General Trading SA - India
- Banpu Public Company Limited - Thailand
- Indian Oil Corporation Limited
- Kapuas Tunggal Persada - Indonesia
- International Coal Ventures Pvt Ltd - India
- Siam City Cement PLC, Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- Indika Energy - Indonesia
- Posco Energy - South Korea
- AsiaOL BioFuels Corp., Philippines
- The State Trading Corporation of India Ltd
- Central Electricity Authority - India
- Intertek Mineral Services - Indonesia
- Meenaskhi Energy Private Limited - India
- Mercator Lines Limited - India
- Australian Coal Association
- OPG Power Generation Pvt Ltd - India
- Energy Development Corp, Philippines
- Central Java Power - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- IEA Clean Coal Centre - UK
- Heidelberg Cement - Germany
- Malabar Cements Ltd - India
- Binh Thuan Hamico - Vietnam
- Port Waratah Coal Services - Australia
- Bhoruka Overseas - Indonesia
- Directorate Of Revenue Intelligence - India
- Kepco SPC Power Corporation, Philippines
- Tata Chemicals Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- McConnell Dowell - Australia
- Energy Link Ltd, New Zealand
- Maharashtra Electricity Regulatory Commission - India
- Karbindo Abesyapradhi - Indoneisa
- Rashtriya Ispat Nigam Limited - India
- Aditya Birla Group - India
- Lanco Infratech Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Pendopo Energi Batubara - Indonesia
- TeaM Sual Corporation - Philippines
- Standard Chartered Bank - UAE
- Uttam Galva Steels Limited - India
- Merrill Lynch Commodities Europe
- Miang Besar Coal Terminal - Indonesia
- Independent Power Producers Association of India
- South Luzon Thermal Energy Corporation
- Manunggal Multi Energi - Indonesia
- Salva Resources Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- Thiess Contractors Indonesia
- Renaissance Capital - South Africa
- Minerals Council of Australia
- Bulk Trading Sa - Switzerland
- Kaltim Prima Coal - Indonesia
- Thai Mozambique Logistica
- Bukit Baiduri Energy - Indonesia
- Sakthi Sugars Limited - India
- Savvy Resources Ltd - HongKong
- Sojitz Corporation - Japan
- Neyveli Lignite Corporation Ltd, - India
- Leighton Contractors Pty Ltd - Australia
- Marubeni Corporation - India
- Wilmar Investment Holdings
- Dalmia Cement Bharat India
- Mjunction Services Limited - India
- Siam City Cement - Thailand
- Orica Mining Services - Indonesia
- Jindal Steel & Power Ltd - India
- Orica Australia Pty. Ltd.
- Anglo American - United Kingdom
- IHS Mccloskey Coal Group - USA
- Bahari Cakrawala Sebuku - Indonesia
- Sree Jayajothi Cements Limited - India
- Indogreen Group - Indonesia
- Baramulti Group, Indonesia
- MS Steel International - UAE
- European Bulk Services B.V. - Netherlands
- Global Business Power Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Xindia Steels Limited - India
- New Zealand Coal & Carbon
- Indonesian Coal Mining Association
- Deloitte Consulting - India
- Alfred C Toepfer International GmbH - Germany
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Cement Manufacturers Association - India
- Gujarat Sidhee Cement - India
- Formosa Plastics Group - Taiwan
- Meralco Power Generation, Philippines
- Ministry of Mines - Canada
- Kideco Jaya Agung - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Trasteel International SA, Italy
- Power Finance Corporation Ltd., India
- Jorong Barutama Greston.PT - Indonesia
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