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Tuesday, 20 July 10
CHURCHILL PLANNING TO PRODUCE 35 MILLION TONNES PER ANNUM FROM ITS EAST KUTAI COAL PROJECT
 According to Churchill's website, the East Kutai Coal Project is a world-class thermal coal deposit, with a JORC Mining Reserve of 961 million tonnes and a JORC Mining Resource of 2.730 billion tonnes.
In accordance with the new Indonesian Mining Law, Churchill has completed the initial stage of its Indonesian restructuring and has converted its 75% beneficial interest in the Ridlatama Tambang license area into a direct equity interest.
The Ridlatama Tambang license area is the larger of the two IUP licenses that make up the East Kutai Coal Project, with a resource of 2.545 billion tonnes, or 93.2% of the 2.730 billion tonne resource of the East Kutai Coal Project. Churchill has also converted to a 75% direct ownership in PT Ridlatama Trade Powerindo, which holds a prospective 5,386 hectare license area adjacent to the Ridlatama Tambang license area, on which no drilling has been done to date.
Churchill Mining Plc and its Indonesian partners the Ridlatama Group intend to increase the project coal production rate by up to 10mtpa to 35mtpa. Coal production from the Northern Pit would increase from 20mtpa to 25-30mtpa and production from the Southern Pit would remain at 5mtpa.
Churchill’s feasibility and development work has identified that planned mine facilities at the Northern Pit have the capacity to support a mining production rate of 40-45mtpa. In this context, Churchill has executed project optimization studies which show that the overland conveyor, which will transport the coal from the Northern Pit, has an enhanced capacity of 25-30mtpa, an increase of 5-10mtpa.
In addition to the Northern Pit production, and further to the MOU signed with PT. Perusahaan Listrik Negara (PLN), the Indonesian state electricity firm, in April 2010, Churchill continues to work on plans for the purchase of 5mtpa of coal from the Southern Pit, which would fulfill Churchill’s Indonesian Domestic Market Obligation (“DMO”). PLN is now reviewing the potential to utilize its coal drying and enhancement technology on the project’s coal, which, in testing, upgraded the coal from subbituminous to bituminous, considerably increasing its value.
Churchill also continues to work closely with its strategic adviser, Credit Suisse, in reviewing development options for the project. The optimized feasibility study will form the platform for Credit Suisse’s work as it evaluates Churchill’s options for the project. Churchill’s CEO, Paul Mazak, commented: “We are delighted with the results of the optimization work performed thus far on this world-class thermal coal project. Our plans to increase production and coal sales by 50% are now being incorporated into the feasibility study and economics. We believe that the significant increase in the production profile will generate considerable additional economic value and further increase the attractiveness of the project for power project developers in Asia.”
Source: Churchill Mining
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Wednesday, 21 July 10
CHARTER RATES FOR BIG SHIPS GO INTO FREEFALL
It is reported that concerns over the slowdown in the mainland construction sector posturing over ore price negotiations and a general summer slowdo ...
Wednesday, 21 July 10
FEWER SHIPS SOLD FOR SCRAP IN JUNE, ADDING PRESSURE TO FREIGHT RATES
The easing of vessel tonnage supply should be among the main concerns among ship owners, especially those active in dry bulk shipping. The reason is ...
Wednesday, 21 July 10
BUKIT ASAM SEALS RP900 BIO COAL DEAL
Souce: Insider Stories
Insider Stories reported that, State-Owned coal producer PT Tambang Batubara Bukit Asam Tbk (PTBA) have agreed t ...
Wednesday, 21 July 10
TUAH TURANGGA BUYS ABP US$ 15.9 MIO
Source: Insider Stories
Insider Stories reported that, Komatsu heavy equipment PT United Tractors Tbk (UNTR) through its wh ...
Tuesday, 20 July 10
CHINA'S RELIANCE ON COAL TO DROP 7% BY 2015 - XINHUA NET
Xinhua Net reported that, China's coal consumption is likely to drop to 63 percent of total energy consumption by 2015, down from 70 percent last y ...
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- Energy Development Corp, Philippines
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- European Bulk Services B.V. - Netherlands
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- Semirara Mining and Power Corporation, Philippines
- Metalloyd Limited - United Kingdom
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- ICICI Bank Limited - India
- Global Business Power Corporation, Philippines
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- Sakthi Sugars Limited - India
- Bulk Trading Sa - Switzerland
- Aboitiz Power Corporation - Philippines
- Xindia Steels Limited - India
- Intertek Mineral Services - Indonesia
- CNBM International Corporation - China
- Thai Mozambique Logistica
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- Lanco Infratech Ltd - India
- IHS Mccloskey Coal Group - USA
- Anglo American - United Kingdom
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- Ministry of Finance - Indonesia
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- Vizag Seaport Private Limited - India
- IEA Clean Coal Centre - UK
- Trasteel International SA, Italy
- Rashtriya Ispat Nigam Limited - India
- LBH Netherlands Bv - Netherlands
- Parliament of New Zealand
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- Commonwealth Bank - Australia
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- Orica Australia Pty. Ltd.
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- GVK Power & Infra Limited - India
- Grasim Industreis Ltd - India
- Tamil Nadu electricity Board
- Tata Chemicals Ltd - India
- The University of Queensland
- Coal and Oil Company - UAE
- Meenaskhi Energy Private Limited - India
- Leighton Contractors Pty Ltd - Australia
- Jindal Steel & Power Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Petrochimia International Co. Ltd.- Taiwan
- Directorate Of Revenue Intelligence - India
- Central Electricity Authority - India
- Makarim & Taira - Indonesia
- Singapore Mercantile Exchange
- Kartika Selabumi Mining - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Indian Energy Exchange, India
- Siam City Cement - Thailand
- Rio Tinto Coal - Australia
- Ministry of Transport, Egypt
- Bangladesh Power Developement Board
- Meralco Power Generation, Philippines
- Edison Trading Spa - Italy
- Directorate General of MIneral and Coal - Indonesia
- MS Steel International - UAE
- Straits Asia Resources Limited - Singapore
- New Zealand Coal & Carbon
- GMR Energy Limited - India
- Sical Logistics Limited - India
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- TeaM Sual Corporation - Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Binh Thuan Hamico - Vietnam
- Billiton Holdings Pty Ltd - Australia
- Ind-Barath Power Infra Limited - India
- Salva Resources Pvt Ltd - India
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- Asia Pacific Energy Resources Ventures Inc, Philippines
- Altura Mining Limited, Indonesia
- Coalindo Energy - Indonesia
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- Posco Energy - South Korea
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- San Jose City I Power Corp, Philippines
- Toyota Tsusho Corporation, Japan
- Kobexindo Tractors - Indoneisa
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- Power Finance Corporation Ltd., India
- Attock Cement Pakistan Limited
- Medco Energi Mining Internasional
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- Global Green Power PLC Corporation, Philippines
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- Ceylon Electricity Board - Sri Lanka
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- Krishnapatnam Port Company Ltd. - India
- Vijayanagar Sugar Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- Indonesian Coal Mining Association
- Ministry of Mines - Canada
- Petron Corporation, Philippines
- Formosa Plastics Group - Taiwan
- Kaltim Prima Coal - Indonesia
- Orica Mining Services - Indonesia
- Mercuria Energy - Indonesia
- Electricity Generating Authority of Thailand
- Sarangani Energy Corporation, Philippines
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- Kumho Petrochemical, South Korea
- Agrawal Coal Company - India
- Star Paper Mills Limited - India
- Standard Chartered Bank - UAE
- Kohat Cement Company Ltd. - Pakistan
- Heidelberg Cement - Germany
- Eastern Coal Council - USA
- Sindya Power Generating Company Private Ltd
- Alfred C Toepfer International GmbH - Germany
- Pendopo Energi Batubara - Indonesia
- Energy Link Ltd, New Zealand
- Siam City Cement PLC, Thailand
- Maharashtra Electricity Regulatory Commission - India
- Riau Bara Harum - Indonesia
- Electricity Authority, New Zealand
- Bhoruka Overseas - Indonesia
- Aditya Birla Group - India
- South Luzon Thermal Energy Corporation
- Independent Power Producers Association of India
- CIMB Investment Bank - Malaysia
- Port Waratah Coal Services - Australia
- Africa Commodities Group - South Africa
- SMC Global Power, Philippines
- Renaissance Capital - South Africa
- Kapuas Tunggal Persada - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- PTC India Limited - India
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- Australian Commodity Traders Exchange
- Banpu Public Company Limited - Thailand
- Vedanta Resources Plc - India
- Wood Mackenzie - Singapore
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- Georgia Ports Authority, United States
- Bayan Resources Tbk. - Indonesia
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- Mintek Dendrill Indonesia
- Bhatia International Limited - India
- Economic Council, Georgia
- Indian Oil Corporation Limited
- The State Trading Corporation of India Ltd
- McConnell Dowell - Australia
- Iligan Light & Power Inc, Philippines
- Indo Tambangraya Megah - Indonesia
- Eastern Energy - Thailand
- Cement Manufacturers Association - India
- Gujarat Mineral Development Corp Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Antam Resourcindo - Indonesia
- The Treasury - Australian Government
- Goldman Sachs - Singapore
- Maheswari Brothers Coal Limited - India
- Bukit Baiduri Energy - Indonesia
- VISA Power Limited - India
- Timah Investasi Mineral - Indoneisa
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- PNOC Exploration Corporation - Philippines
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