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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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Friday, 15 February 13
SCRAPPING TO RISE AS BULKER OWNERS SUFFER - DREWRY MARITIME RESEARCH
Drewry's latest Dry Bulk Forecaster report suggests that cash-strapped shipowners will scrap younger and younger ships this year as the dry bulk ma ...
Thursday, 14 February 13
HANDY: ATLANTIC "STABLE"; PACIFIC "QUIET" - FEARNLEYS
Handy
The Atlantic remain stable with rates for FH from USG around USD 18k. The Pacific remains quiet due to Chinese New Year holidays. Rates were ...
Thursday, 14 February 13
BIMCO FORECASTS MOSTLY HIGHER DRY BULK RATES FOR THE COMING WEEKS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Higher steel demand is expected to keep dry bulk rates elevated during the next six weeks, according to the latest BIMCO forecast. The Organization ...
Wednesday, 13 February 13
6TH ANNUAL CBM CONFERENCE
The 6th Annual CBM conference which will be held in Singapore on 18-21 June 201 offers comprehensive insights into leading CBM projects in the Asia- ...
Tuesday, 12 February 13
GOVERNMENT DECLARED INDONESIAN THERMAL COAL PRICE INCHES UP IN FEBRUARY
COALspot.com - The Indonesian government has declared bench mark price for coal has moved upwards in February 2013.
The monthly coal refere ...
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- SMC Global Power, Philippines
- Singapore Mercantile Exchange
- Planning Commission, India
- Sakthi Sugars Limited - India
- Australian Commodity Traders Exchange
- SMG Consultants - Indonesia
- Intertek Mineral Services - Indonesia
- Orica Mining Services - Indonesia
- The University of Queensland
- PowerSource Philippines DevCo
- Energy Development Corp, Philippines
- Parliament of New Zealand
- Energy Link Ltd, New Zealand
- India Bulls Power Limited - India
- Therma Luzon, Inc, Philippines
- Vedanta Resources Plc - India
- Binh Thuan Hamico - Vietnam
- Borneo Indobara - Indonesia
- Straits Asia Resources Limited - Singapore
- Altura Mining Limited, Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Siam City Cement - Thailand
- White Energy Company Limited
- Price Waterhouse Coopers - Russia
- Semirara Mining Corp, Philippines
- Carbofer General Trading SA - India
- Africa Commodities Group - South Africa
- Kapuas Tunggal Persada - Indonesia
- Sical Logistics Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Salva Resources Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- Vijayanagar Sugar Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Sree Jayajothi Cements Limited - India
- Ambuja Cements Ltd - India
- Indo Tambangraya Megah - Indonesia
- Grasim Industreis Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Coalindo Energy - Indonesia
- Kartika Selabumi Mining - Indonesia
- The Treasury - Australian Government
- Bhatia International Limited - India
- Lanco Infratech Ltd - India
- Indian Energy Exchange, India
- Mintek Dendrill Indonesia
- Bukit Baiduri Energy - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indonesian Coal Mining Association
- Edison Trading Spa - Italy
- Billiton Holdings Pty Ltd - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Global Business Power Corporation, Philippines
- Indian Oil Corporation Limited
- Coastal Gujarat Power Limited - India
- Simpson Spence & Young - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Ministry of Transport, Egypt
- IEA Clean Coal Centre - UK
- Parry Sugars Refinery, India
- Mjunction Services Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Trasteel International SA, Italy
- European Bulk Services B.V. - Netherlands
- San Jose City I Power Corp, Philippines
- Merrill Lynch Commodities Europe
- International Coal Ventures Pvt Ltd - India
- London Commodity Brokers - England
- Attock Cement Pakistan Limited
- Meenaskhi Energy Private Limited - India
- Wood Mackenzie - Singapore
- Electricity Authority, New Zealand
- Independent Power Producers Association of India
- MS Steel International - UAE
- Sojitz Corporation - Japan
- Eastern Energy - Thailand
- CIMB Investment Bank - Malaysia
- Kobexindo Tractors - Indoneisa
- Bangladesh Power Developement Board
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Banpu Public Company Limited - Thailand
- Antam Resourcindo - Indonesia
- Bukit Makmur.PT - Indonesia
- Commonwealth Bank - Australia
- Ministry of Finance - Indonesia
- Iligan Light & Power Inc, Philippines
- Cement Manufacturers Association - India
- Savvy Resources Ltd - HongKong
- Central Java Power - Indonesia
- Sindya Power Generating Company Private Ltd
- Ind-Barath Power Infra Limited - India
- Latin American Coal - Colombia
- Petron Corporation, Philippines
- Power Finance Corporation Ltd., India
- Gujarat Mineral Development Corp Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Jaiprakash Power Ventures ltd
- Holcim Trading Pte Ltd - Singapore
- Essar Steel Hazira Ltd - India
- Directorate Of Revenue Intelligence - India
- Bayan Resources Tbk. - Indonesia
- Rio Tinto Coal - Australia
- Manunggal Multi Energi - Indonesia
- Vizag Seaport Private Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Global Green Power PLC Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- Tamil Nadu electricity Board
- Neyveli Lignite Corporation Ltd, - India
- Georgia Ports Authority, United States
- McConnell Dowell - Australia
- Aditya Birla Group - India
- Dalmia Cement Bharat India
- Port Waratah Coal Services - Australia
- Ministry of Mines - Canada
- PNOC Exploration Corporation - Philippines
- ICICI Bank Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Aboitiz Power Corporation - Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Economic Council, Georgia
- Jorong Barutama Greston.PT - Indonesia
- Kumho Petrochemical, South Korea
- Xindia Steels Limited - India
- Pendopo Energi Batubara - Indonesia
- Baramulti Group, Indonesia
- The State Trading Corporation of India Ltd
- Mercuria Energy - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Marubeni Corporation - India
- Indogreen Group - Indonesia
- Oldendorff Carriers - Singapore
- Makarim & Taira - Indonesia
- Bhoruka Overseas - Indonesia
- Toyota Tsusho Corporation, Japan
- Krishnapatnam Port Company Ltd. - India
- Globalindo Alam Lestari - Indonesia
- GAC Shipping (India) Pvt Ltd
- VISA Power Limited - India
- IHS Mccloskey Coal Group - USA
- Maharashtra Electricity Regulatory Commission - India
- Coal and Oil Company - UAE
- Sinarmas Energy and Mining - Indonesia
- Medco Energi Mining Internasional
- Directorate General of MIneral and Coal - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Australian Coal Association
- TeaM Sual Corporation - Philippines
- Bhushan Steel Limited - India
- Barasentosa Lestari - Indonesia
- Minerals Council of Australia
- Chettinad Cement Corporation Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Global Coal Blending Company Limited - Australia
- Bulk Trading Sa - Switzerland
- Anglo American - United Kingdom
- Posco Energy - South Korea
- Thai Mozambique Logistica
- Tata Chemicals Ltd - India
- Meralco Power Generation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Kideco Jaya Agung - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Siam City Cement PLC, Thailand
- Bharathi Cement Corporation - India
- OPG Power Generation Pvt Ltd - India
- Malabar Cements Ltd - India
- Chamber of Mines of South Africa
- Goldman Sachs - Singapore
- Ceylon Electricity Board - Sri Lanka
- Uttam Galva Steels Limited - India
- Gujarat Sidhee Cement - India
- Leighton Contractors Pty Ltd - Australia
- Standard Chartered Bank - UAE
- Heidelberg Cement - Germany
- CNBM International Corporation - China
- Riau Bara Harum - Indonesia
- PTC India Limited - India
- Sarangani Energy Corporation, Philippines
- Indika Energy - Indonesia
- AsiaOL BioFuels Corp., Philippines
- GMR Energy Limited - India
- Deloitte Consulting - India
- Kaltim Prima Coal - Indonesia
- GVK Power & Infra Limited - India
- Renaissance Capital - South Africa
- Agrawal Coal Company - India
- Jindal Steel & Power Ltd - India
- Timah Investasi Mineral - Indoneisa
- Karaikal Port Pvt Ltd - India
- Eastern Coal Council - USA
- LBH Netherlands Bv - Netherlands
- Larsen & Toubro Limited - India
- Star Paper Mills Limited - India
- Interocean Group of Companies - India
- Central Electricity Authority - India
- Romanian Commodities Exchange
- Wilmar Investment Holdings
- SN Aboitiz Power Inc, Philippines
- Kepco SPC Power Corporation, Philippines
- Formosa Plastics Group - Taiwan
- South Luzon Thermal Energy Corporation
- Gujarat Electricity Regulatory Commission - India
- Mercator Lines Limited - India
- Thiess Contractors Indonesia
- Samtan Co., Ltd - South Korea
- Semirara Mining and Power Corporation, Philippines
- Electricity Generating Authority of Thailand
- ASAPP Information Group - India
- Orica Australia Pty. Ltd.
- Madhucon Powers Ltd - India
- Videocon Industries ltd - India
- New Zealand Coal & Carbon
- Truba Alam Manunggal Engineering.Tbk - Indonesia
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