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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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Tuesday, 20 July 10
DRY BULK SHIPPING MARKET FINDING SOME SUPPORT, AS OWNERS TAKE CAPE SIZES OFF THE MARKET
With the Baltic Dry Index finally having reached bottom, at least according to market analysts, the dry bulk industry is looking to begin its long r ...
Monday, 19 July 10
INDONESIA EXPORTS 24.49 MILLION TONNES OF COAL IN JUNE 2010
COALspot.com: Indonesia, the world largest coal exporter, exported 141.249 million tons of coal in the first half of this year. In June 2010, Indone ...
Monday, 19 July 10
CHINA ONCE AGAIN DOMINATING SHIPPING FREIGHT RATES, WHILE OVERSUPPLY OF TONNAGE RAISES CONCERN
The ending of the week brought a cheerful note among dry bulk ship owners, as the sinking benchmark of the industry, the Baltic Dry Index (BDI) fina ...
Saturday, 17 July 10
THE DRY BULK MARKET CONTINUED THE DOWNWARD TREND - VISTAAR
COALspot.com: The indices continued the downward trend this week also with BDI at 1,720 points and cape size index at 1676 points and the charter ra ...
Saturday, 17 July 10
BULLISH OUTLOOK FOR COKING COAL - MINING MX & HELLENIC SHIPPING
Mining Mx reported that, the coking coal market has better long-term fundamentals than the iron ore market, according to a recent research rep ...
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- Indian Energy Exchange, India
- Jorong Barutama Greston.PT - Indonesia
- Jindal Steel & Power Ltd - India
- Star Paper Mills Limited - India
- Planning Commission, India
- MS Steel International - UAE
- Indogreen Group - Indonesia
- Price Waterhouse Coopers - Russia
- Meenaskhi Energy Private Limited - India
- Meralco Power Generation, Philippines
- European Bulk Services B.V. - Netherlands
- Leighton Contractors Pty Ltd - Australia
- Makarim & Taira - Indonesia
- Bharathi Cement Corporation - India
- Karaikal Port Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- IHS Mccloskey Coal Group - USA
- Neyveli Lignite Corporation Ltd, - India
- The Treasury - Australian Government
- Aboitiz Power Corporation - Philippines
- Bukit Makmur.PT - Indonesia
- Petron Corporation, Philippines
- Altura Mining Limited, Indonesia
- Coalindo Energy - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Sree Jayajothi Cements Limited - India
- Singapore Mercantile Exchange
- Port Waratah Coal Services - Australia
- Thiess Contractors Indonesia
- Bangladesh Power Developement Board
- Chettinad Cement Corporation Ltd - India
- Mjunction Services Limited - India
- Sindya Power Generating Company Private Ltd
- GMR Energy Limited - India
- Orica Mining Services - Indonesia
- Antam Resourcindo - Indonesia
- Iligan Light & Power Inc, Philippines
- Siam City Cement PLC, Thailand
- Dalmia Cement Bharat India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Carbofer General Trading SA - India
- Vijayanagar Sugar Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- GAC Shipping (India) Pvt Ltd
- International Coal Ventures Pvt Ltd - India
- Malabar Cements Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Kepco SPC Power Corporation, Philippines
- Salva Resources Pvt Ltd - India
- Coal and Oil Company - UAE
- Essar Steel Hazira Ltd - India
- SN Aboitiz Power Inc, Philippines
- Mercator Lines Limited - India
- Power Finance Corporation Ltd., India
- Billiton Holdings Pty Ltd - Australia
- Global Coal Blending Company Limited - Australia
- Agrawal Coal Company - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Marubeni Corporation - India
- GN Power Mariveles Coal Plant, Philippines
- London Commodity Brokers - England
- Semirara Mining Corp, Philippines
- South Luzon Thermal Energy Corporation
- Bhushan Steel Limited - India
- Goldman Sachs - Singapore
- Orica Australia Pty. Ltd.
- Vedanta Resources Plc - India
- Binh Thuan Hamico - Vietnam
- Tamil Nadu electricity Board
- TNB Fuel Sdn Bhd - Malaysia
- Sakthi Sugars Limited - India
- Wood Mackenzie - Singapore
- ASAPP Information Group - India
- Romanian Commodities Exchange
- Trasteel International SA, Italy
- TeaM Sual Corporation - Philippines
- Global Business Power Corporation, Philippines
- Central Java Power - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Maheswari Brothers Coal Limited - India
- Energy Link Ltd, New Zealand
- Wilmar Investment Holdings
- Commonwealth Bank - Australia
- CIMB Investment Bank - Malaysia
- Semirara Mining and Power Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Parry Sugars Refinery, India
- GVK Power & Infra Limited - India
- Krishnapatnam Port Company Ltd. - India
- Karbindo Abesyapradhi - Indoneisa
- Eastern Coal Council - USA
- Ceylon Electricity Board - Sri Lanka
- Medco Energi Mining Internasional
- Ministry of Transport, Egypt
- Interocean Group of Companies - India
- Heidelberg Cement - Germany
- Bukit Baiduri Energy - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Kideco Jaya Agung - Indonesia
- Posco Energy - South Korea
- Ambuja Cements Ltd - India
- Bayan Resources Tbk. - Indonesia
- Economic Council, Georgia
- Intertek Mineral Services - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Australian Coal Association
- Sarangani Energy Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Toyota Tsusho Corporation, Japan
- Samtan Co., Ltd - South Korea
- Sojitz Corporation - Japan
- Georgia Ports Authority, United States
- Renaissance Capital - South Africa
- Indo Tambangraya Megah - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- India Bulls Power Limited - India
- The University of Queensland
- Vizag Seaport Private Limited - India
- Gujarat Sidhee Cement - India
- Videocon Industries ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Australian Commodity Traders Exchange
- Formosa Plastics Group - Taiwan
- Latin American Coal - Colombia
- Sical Logistics Limited - India
- Central Electricity Authority - India
- San Jose City I Power Corp, Philippines
- Aditya Birla Group - India
- Ministry of Mines - Canada
- Metalloyd Limited - United Kingdom
- PowerSource Philippines DevCo
- Kaltim Prima Coal - Indonesia
- Africa Commodities Group - South Africa
- OPG Power Generation Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- Xindia Steels Limited - India
- The State Trading Corporation of India Ltd
- SMG Consultants - Indonesia
- Electricity Authority, New Zealand
- Savvy Resources Ltd - HongKong
- Mintek Dendrill Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Rio Tinto Coal - Australia
- Riau Bara Harum - Indonesia
- Pendopo Energi Batubara - Indonesia
- Merrill Lynch Commodities Europe
- Miang Besar Coal Terminal - Indonesia
- Attock Cement Pakistan Limited
- Global Green Power PLC Corporation, Philippines
- McConnell Dowell - Australia
- Kumho Petrochemical, South Korea
- Jaiprakash Power Ventures ltd
- IEA Clean Coal Centre - UK
- Parliament of New Zealand
- SMC Global Power, Philippines
- Standard Chartered Bank - UAE
- Edison Trading Spa - Italy
- Timah Investasi Mineral - Indoneisa
- New Zealand Coal & Carbon
- Chamber of Mines of South Africa
- Madhucon Powers Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Deloitte Consulting - India
- Directorate Of Revenue Intelligence - India
- PetroVietnam Power Coal Import and Supply Company
- PTC India Limited - India
- Independent Power Producers Association of India
- Bhatia International Limited - India
- Gujarat Electricity Regulatory Commission - India
- CNBM International Corporation - China
- VISA Power Limited - India
- Kartika Selabumi Mining - Indonesia
- PNOC Exploration Corporation - Philippines
- Cement Manufacturers Association - India
- Energy Development Corp, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Globalindo Alam Lestari - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Baramulti Group, Indonesia
- Simpson Spence & Young - Indonesia
- Mercuria Energy - Indonesia
- ICICI Bank Limited - India
- Tata Chemicals Ltd - India
- Anglo American - United Kingdom
- Ministry of Finance - Indonesia
- Indika Energy - Indonesia
- Bulk Trading Sa - Switzerland
- Oldendorff Carriers - Singapore
- Indonesian Coal Mining Association
- Therma Luzon, Inc, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Asmin Koalindo Tuhup - Indonesia
- Electricity Generating Authority of Thailand
- Minerals Council of Australia
- Lanco Infratech Ltd - India
- White Energy Company Limited
- Thai Mozambique Logistica
- Cigading International Bulk Terminal - Indonesia
- Ind-Barath Power Infra Limited - India
- Bhoruka Overseas - Indonesia
- Larsen & Toubro Limited - India
- Borneo Indobara - Indonesia
- Indian Oil Corporation Limited
- Kapuas Tunggal Persada - Indonesia
- Uttam Galva Steels Limited - India
- LBH Netherlands Bv - Netherlands
- Straits Asia Resources Limited - Singapore
- Maharashtra Electricity Regulatory Commission - India
- Siam City Cement - Thailand
- Alfred C Toepfer International GmbH - Germany
- Grasim Industreis Ltd - India
- Eastern Energy - Thailand
- Kobexindo Tractors - Indoneisa
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