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Sunday, 01 November 09
ADAVALE RESOURCES MAKES COAL ACQUISITIONS IN INDONESIA
Adavale Resources Limited has entered into an agreement to acquire the rights to two thermal coal projects Tapan and Jambi in Sumatra Indonesia, held by United Energy and Resources.
Under the agreement, Adavale will fund an initial exploration program to seek to upgrade the existing 15 million tonne inferred coal resource at the Tapan project to a Measured Coal Resource of 5 million tonnes.
The expected costs of this initial program will be an upfront payment of USD 110,000 and subject to a review of due diligence up to a further USD 650,000.
On completion of proving up a 5 million tonnes resource and Adavale being satisfied with the development to that date, Adavale will provide up to a further USD 3.4 million to develop and gain all necessary approvals to take the project through to the mining stage.
Mr Richard Poole chairman of Adavale Resources said that “Whilst recognizing the substantial opportunities for successful mining development in Indonesia, Adavale is aware of the potential risks and have been working hard to reduce these as much as possible. We are developing the projects in stages.”
The works program to seek to prove up a Measured Coal Resource will commence during the first week of November. The program will focus on proving up a Measured Coal Resource and will include mine planning in order to ensure an efficient and economically viable mining operation for the Tapan Project can be developed. First production at Tapan is being targeted for the second quarter of 2010.
The company is expected to development Jambi after Tapan. Preliminary drilling and trenching has identified an inferred coal resource in excess of 20 million tonnes at Jambi.
Adavale has acquired ‘United’s’ rights to a MOU over four coal concessions within the Jambi Province. Adavale’s initial target is within an Exploration Licence of 10,000 hectare located close to the provincial capital of Jambi.
Source: Steel Guru
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Wednesday, 11 November 09
INDIAN COAL IMPORT FROM SA IN OCTOBER
Reuters reported that India imported 2.4 million tonnes of coal from South Africa's Richards Bay Coal Terminal in October 2009, 35% of the total of ...
Wednesday, 11 November 09
INDONESIA ASKS DOMESTIC COAL FIRMS TO SET ASIDE 30PCT OF OUTPUT
Indonesian government said that it had asked domestic coal producers to set aside 30% of their output next year to meet demand from new coal fired p ...
Wednesday, 11 November 09
MINING ACQUISITIONS BECOMING MORE STRATEGIC - E&Y
Mining Weekly reported that, Although miners around the world are looking to position themselves for growth, companies are being more selective when ...
Tuesday, 10 November 09
THAI COAL MINER BANPU Q3 NET UP, BEATS FORECAST
Reuters reported that, Thailand's top coal miner, Banpu, said on Tuesday its third-quarter net earnings rose a higher-than-expected 22 percent, hel ...
Monday, 09 November 09
NAPOCOR DEFERS 50,000 T COAL TENDER
Top Philippine electricity producer National Power Corp. (Napocor) has indefinitely postponed a tender for supply of 50,000 tons of steam coal sched ...
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- European Bulk Services B.V. - Netherlands
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- Eastern Coal Council - USA
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- Indo Tambangraya Megah - Indonesia
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- Indian Energy Exchange, India
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- McConnell Dowell - Australia
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- Samtan Co., Ltd - South Korea
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- Semirara Mining Corp, Philippines
- OPG Power Generation Pvt Ltd - India
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- Baramulti Group, Indonesia
- Madhucon Powers Ltd - India
- Metalloyd Limited - United Kingdom
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- Planning Commission, India
- Orica Mining Services - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Manunggal Multi Energi - Indonesia
- Petron Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Tamil Nadu electricity Board
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- Ministry of Finance - Indonesia
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- Mintek Dendrill Indonesia
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- Kaltim Prima Coal - Indonesia
- New Zealand Coal & Carbon
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- Star Paper Mills Limited - India
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- Bhoruka Overseas - Indonesia
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- Barasentosa Lestari - Indonesia
- Mercator Lines Limited - India
- Thai Mozambique Logistica
- Savvy Resources Ltd - HongKong
- Aboitiz Power Corporation - Philippines
- Singapore Mercantile Exchange
- Coalindo Energy - Indonesia
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- PowerSource Philippines DevCo
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- Merrill Lynch Commodities Europe
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- GN Power Mariveles Coal Plant, Philippines
- Bhushan Steel Limited - India
- Economic Council, Georgia
- GVK Power & Infra Limited - India
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- Indian Oil Corporation Limited
- Karbindo Abesyapradhi - Indoneisa
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- Bhatia International Limited - India
- ASAPP Information Group - India
- Therma Luzon, Inc, Philippines
- Sinarmas Energy and Mining - Indonesia
- Renaissance Capital - South Africa
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- Cigading International Bulk Terminal - Indonesia
- Uttam Galva Steels Limited - India
- Parliament of New Zealand
- Billiton Holdings Pty Ltd - Australia
- Posco Energy - South Korea
- Africa Commodities Group - South Africa
- Antam Resourcindo - Indonesia
- Power Finance Corporation Ltd., India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- GMR Energy Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Carbofer General Trading SA - India
- Sojitz Corporation - Japan
- Energy Link Ltd, New Zealand
- Australian Coal Association
- Commonwealth Bank - Australia
- Alfred C Toepfer International GmbH - Germany
- Vedanta Resources Plc - India
- Videocon Industries ltd - India
- Gujarat Electricity Regulatory Commission - India
- Deloitte Consulting - India
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- Pendopo Energi Batubara - Indonesia
- Thiess Contractors Indonesia
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- IEA Clean Coal Centre - UK
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- Jaiprakash Power Ventures ltd
- The Treasury - Australian Government
- Altura Mining Limited, Indonesia
- Global Business Power Corporation, Philippines
- Ministry of Mines - Canada
- Asia Pacific Energy Resources Ventures Inc, Philippines
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- Bank of Tokyo Mitsubishi UFJ Ltd
- Meenaskhi Energy Private Limited - India
- Tata Chemicals Ltd - India
- Intertek Mineral Services - Indonesia
- Bayan Resources Tbk. - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Minerals Council of Australia
- Sical Logistics Limited - India
- Cement Manufacturers Association - India
- Parry Sugars Refinery, India
- Coal and Oil Company - UAE
- Sakthi Sugars Limited - India
- SMG Consultants - Indonesia
- Indonesian Coal Mining Association
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- Attock Cement Pakistan Limited
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- Latin American Coal - Colombia
- Banpu Public Company Limited - Thailand
- IHS Mccloskey Coal Group - USA
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