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Tuesday, 30 April 13
KATINGAN RIA THERMAL COAL TO START PRODUCTION FROM EARLY 2014
 COALspot.com - Realm Resources Ltd. (ASX: RRP) has announced the completion of the Feasibility Study for its 51% owned Katingan Ria thermal coal project (the “Project”) in Central Kalimantan, Indonesia.
According to the company’s report to ASX Limited, the study, independently reviewed by Xenith Consulting Pty. Limited (“Xenith”), supports the development of a 2.5 million tons per annum (Mtpa) (Base case) to 3.0Mtpa (Upside case) open cut mine with a life of mine of around fifteen years. The study was based on coal being hauled 40km - 45km to a stockpiling and barge loading facility on the Katingan River, then barged 435 km to the river mouth for transhipment into ships for delivery to market. The coal is expected to be predominately sold as a low ash and low sulphur coal ideally suited for modern Indian and Chinese power generation.
The Katingan Ria coal project is located near the town of Tumbang Samba in Central Kalimantan, Indonesia. The Project mining concession covers an area of some 4,258 ha within an area that has already been subject to commercial forestry operations (IUP Exploitation No. IUP OP No. 545/222/KPTS/VIII/2011). The Project aims to be a 2.5Mtpa – 3.0Mtpa open cut mine. Coal is transported from the pit by 60 t road trucks approximately 40km - 45 km to a stockpiling and barge loading facility on the Katingan River. Barges will then transport coal 435 km to the river mouth for transhipment into coal ships for delivery to market.
Coal will be sold “unwashed”, meaning there is no metallurgical treatment required to achieve a saleable product. The coal is expected to be predominately sold as a low ash and low sulphur coal ideally suited for modern Indian and Chinese power generation, the company’s announcement said.
HIGHLIGHTS
- Near horizontal, multi-seam coal deposit with JORC resources of 89Mt, including JORC reserves of 29Mt assuming a long term coal price of USD52/ton for the expected Katingan Ria coal quality;
- Indicative product specifications are consistent with Indonesian 4,200kcal/kg (GAR) low sulphur (0.2%) coal which is readily accepted in rapidly growing markets in India, China, Korea and Thailand;
- Low project start-up capital estimate of USD24M (including 30% contingency and USD6M working capital), implying a capital intensity of less than USD10/annual ton, thereby minimising investment risk;
- Life of mine (LOM) FOB cash costs of ~USD41/t (Base case) to ~USD39/t (Upside case) excluding royalties with the first five years averaging ~USD38/t due to lower strip ratios and haulage distances;
- NPV (100%) of USD78M (Base case) to USD111M (Upside case) at a 10% discount rate is most sensitive to coal price and operating costs and least sensitive to capital expenditure;
- Permitting is well advanced, supporting forecast production and ramp up from early 2014.
Commenting on the study, Chairman Richard Rossiter said, “We are pleased to achieve another key milestone as we progress Katingan Ria towards production in 2014. Together with our partners, we are now focused on advancing the final stages of permitting, and project financing and development”.
The Project is not capital intensive, with a total of USD18.5M required to establish a 2.5Mtpa to 3.0Mtpa contractor driven operation. An additional USD6M is required for working capital. Base case FOB cash costs are forecast to be USD37.62/t in the first five years with an average USD41.23/t over the life of mine (excluding royalties). Including royalties, FOB cash cost forecasts are USD 39.37/t and USD 42.68/t respectively. The average life of mine FOB cash cost in the Upside case is around USD2/t lower due to economies of scale. Permitting is in the final stages, and production is forecast as early as H1 2014, the company said in its report.
The Project is well advanced and has a high level of support from the local community and government. The balance of 49% of PTKR is held by professional Indonesian partners.
According to company, the company has identified following strengths for the project:
- The deposit (89.9Mt JORC resource, 29Mt JORC reserve) is structurally simple with a low strip-ratio, therefore leading to lower mining costs.
- The coal (4,200 GAR Kcal/kg raw coal basis) is relatively homogenous, low in sulphur (0.2%) and most likely to be marketed to the rapidly growing demand centres in India, China, Korea and Thailand.
- Low start-up capital.
- The Project requires no rail or port infrastructure to be developed and therefore could be bought into production relatively quickly.
- The key technical risks for the Project are:
- FOB cost factors associated with river seasonality and the transport distance to the coast.
- Margins received from the sale of the coal are very sensitive to coal price assumptions and potential increases in operating costs.
About Realm
Realm’s strategy is to create shareholder value through exploration and development of bulk commodity projects, primarily in coal. In addition, the Company has platinum group metals, advanced exploration projects and an aluminium dross treatment plant in South Africa.
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Monday, 25 March 13
BUNKER FUELS ARE ABOUT TO GET CLEANER, BUT AT WHAT COST? - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The cost of bunkers is nowadays the driving force behind most ship owners' major decisions, with regulations bound to change in many parts of the w ...
Sunday, 24 March 13
THE SUB-BIT INDONESIA'S COAL SWAPS FOR Q2 DELIVERY PRICE LOST 7.47 PERCENT PMT M-O-M
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) for average Q2’ 2013 delivery has lost 3.39 percent and CFR South China coal shipment 2.65 ...
Sunday, 24 March 13
FREIGHT MARKETS CONTINUED TO FIRM - VISTAAR
COALspot.com - This freight market continued to remain firm in all segments except for cape index which softened slightly.
The BDI was up by 4.60 ...
Sunday, 24 March 13
DRY BULK MARKET PROSPECTS OFFER ROOM FOR RESTRAINED OPTIMISM SAYS SHIP OWNER - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
In its announcement regarding its annual performance, ship owner Frontline offered some useful insight on the future prospects of both the dry bulk ...
Saturday, 23 March 13
WORLD COAL TRADE FIRST PASSES 1 BILLION TONS IN 2012 - VEREIN DER KOHLENIMPORTEURE E.V
Press Release: Hard coal imports to Germany on the previous year's level in spite of regenerative energies. Imports for power plants at an all-time ...
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- Sindya Power Generating Company Private Ltd
- London Commodity Brokers - England
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- Global Coal Blending Company Limited - Australia
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- IEA Clean Coal Centre - UK
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- Planning Commission, India
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- MS Steel International - UAE
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- Electricity Generating Authority of Thailand
- White Energy Company Limited
- Minerals Council of Australia
- The Treasury - Australian Government
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- TeaM Sual Corporation - Philippines
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- Petron Corporation, Philippines
- McConnell Dowell - Australia
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- Manunggal Multi Energi - Indonesia
- Carbofer General Trading SA - India
- Ministry of Transport, Egypt
- Videocon Industries ltd - India
- Kepco SPC Power Corporation, Philippines
- Therma Luzon, Inc, Philippines
- Holcim Trading Pte Ltd - Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- AsiaOL BioFuels Corp., Philippines
- Commonwealth Bank - Australia
- Star Paper Mills Limited - India
- Heidelberg Cement - Germany
- Renaissance Capital - South Africa
- Indian Oil Corporation Limited
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- Sakthi Sugars Limited - India
- IHS Mccloskey Coal Group - USA
- Bukit Asam (Persero) Tbk - Indonesia
- Indogreen Group - Indonesia
- Energy Link Ltd, New Zealand
- Rio Tinto Coal - Australia
- Indonesian Coal Mining Association
- Goldman Sachs - Singapore
- GVK Power & Infra Limited - India
- Semirara Mining Corp, Philippines
- Pendopo Energi Batubara - Indonesia
- Anglo American - United Kingdom
- Binh Thuan Hamico - Vietnam
- Independent Power Producers Association of India
- Antam Resourcindo - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Marubeni Corporation - India
- Mercator Lines Limited - India
- Price Waterhouse Coopers - Russia
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- Economic Council, Georgia
- TNB Fuel Sdn Bhd - Malaysia
- ASAPP Information Group - India
- Bahari Cakrawala Sebuku - Indonesia
- Wood Mackenzie - Singapore
- Grasim Industreis Ltd - India
- Romanian Commodities Exchange
- Kohat Cement Company Ltd. - Pakistan
- Leighton Contractors Pty Ltd - Australia
- Ministry of Mines - Canada
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- Eastern Energy - Thailand
- Bangladesh Power Developement Board
- Ministry of Finance - Indonesia
- PNOC Exploration Corporation - Philippines
- Australian Commodity Traders Exchange
- Aboitiz Power Corporation - Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Intertek Mineral Services - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
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- Orica Mining Services - Indonesia
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- Interocean Group of Companies - India
- Indika Energy - Indonesia
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- Power Finance Corporation Ltd., India
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- Electricity Authority, New Zealand
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- Karbindo Abesyapradhi - Indoneisa
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- Siam City Cement - Thailand
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- Altura Mining Limited, Indonesia
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- Global Green Power PLC Corporation, Philippines
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