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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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Thursday, 08 July 10
DRY BULK MARKET STILL PLUNGING, NOW STANDING AT 14 MONTH LOWS
The dry bulk shipping market’s demise isn’t over yet, as the industry’s main benchmark, the Baltic Dry Index (BDI) has been on a f ...
Wednesday, 07 July 10
MACQUARIE SEES CHINA COMMODITIES PRICE FALLS AND CUTBACKS AHEAD - MINEWEB
MineWeb reported that, The research arm of Australia's Macquarie Bank - one of the most reliable of China watchers - in its latest briefing on Chin ...
Wednesday, 07 July 10
COAL PRICES ON THE RISE
Caixin online reported that, China's domestic coal prices have seen a 26.2 percent year-on-year rise in May. Meanwhile, the volume of coal im ...
Tuesday, 06 July 10
INCREASE IN DRY BULK SPOT FIXTURES UNABLE TO BOOST RATES, LOSING STREAK CONTINUES
Yet another week began on a negative note for the dry bulk shipping market, with the Baltic Dry Index posting its 28th straight losing daily session ...
Tuesday, 06 July 10
KEPCO, POSCO BUY AUSTRALIAN COAL MINES - CHOSUN
Chosun reported that, Electricity monopoly KEPCO and steelmaker POSCO have both bought coal mines in Australia.
KEPCO signed a 400 million Austra ...
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- Altura Mining Limited, Indonesia
- London Commodity Brokers - England
- Maharashtra Electricity Regulatory Commission - India
- Meralco Power Generation, Philippines
- Karaikal Port Pvt Ltd - India
- Indian Energy Exchange, India
- Rio Tinto Coal - Australia
- IEA Clean Coal Centre - UK
- TeaM Sual Corporation - Philippines
- Renaissance Capital - South Africa
- Commonwealth Bank - Australia
- Rashtriya Ispat Nigam Limited - India
- Semirara Mining and Power Corporation, Philippines
- Trasteel International SA, Italy
- GAC Shipping (India) Pvt Ltd
- Sojitz Corporation - Japan
- Banpu Public Company Limited - Thailand
- Planning Commission, India
- Carbofer General Trading SA - India
- Singapore Mercantile Exchange
- Central Java Power - Indonesia
- International Coal Ventures Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Bharathi Cement Corporation - India
- Kartika Selabumi Mining - Indonesia
- Coalindo Energy - Indonesia
- Africa Commodities Group - South Africa
- Tamil Nadu electricity Board
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Latin American Coal - Colombia
- MS Steel International - UAE
- Larsen & Toubro Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- AsiaOL BioFuels Corp., Philippines
- GVK Power & Infra Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Barasentosa Lestari - Indonesia
- Semirara Mining Corp, Philippines
- Global Business Power Corporation, Philippines
- Grasim Industreis Ltd - India
- Makarim & Taira - Indonesia
- Uttam Galva Steels Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Kumho Petrochemical, South Korea
- Merrill Lynch Commodities Europe
- Kohat Cement Company Ltd. - Pakistan
- PTC India Limited - India
- Agrawal Coal Company - India
- Wilmar Investment Holdings
- Standard Chartered Bank - UAE
- Kapuas Tunggal Persada - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Marubeni Corporation - India
- Port Waratah Coal Services - Australia
- Coal and Oil Company - UAE
- The Treasury - Australian Government
- Attock Cement Pakistan Limited
- Savvy Resources Ltd - HongKong
- Coastal Gujarat Power Limited - India
- Energy Link Ltd, New Zealand
- Petron Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- Electricity Authority, New Zealand
- Chettinad Cement Corporation Ltd - India
- Gujarat Sidhee Cement - India
- Pipit Mutiara Jaya. PT, Indonesia
- Kobexindo Tractors - Indoneisa
- Heidelberg Cement - Germany
- Essar Steel Hazira Ltd - India
- Romanian Commodities Exchange
- Indonesian Coal Mining Association
- Bukit Asam (Persero) Tbk - Indonesia
- Edison Trading Spa - Italy
- Therma Luzon, Inc, Philippines
- Ministry of Transport, Egypt
- Meenaskhi Energy Private Limited - India
- The University of Queensland
- Borneo Indobara - Indonesia
- Central Electricity Authority - India
- European Bulk Services B.V. - Netherlands
- Independent Power Producers Association of India
- Binh Thuan Hamico - Vietnam
- Kaltim Prima Coal - Indonesia
- Eastern Coal Council - USA
- Vedanta Resources Plc - India
- Videocon Industries ltd - India
- Miang Besar Coal Terminal - Indonesia
- Xindia Steels Limited - India
- ASAPP Information Group - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Maheswari Brothers Coal Limited - India
- Bhushan Steel Limited - India
- Siam City Cement PLC, Thailand
- Ceylon Electricity Board - Sri Lanka
- Kideco Jaya Agung - Indonesia
- PNOC Exploration Corporation - Philippines
- PetroVietnam Power Coal Import and Supply Company
- IHS Mccloskey Coal Group - USA
- SN Aboitiz Power Inc, Philippines
- Alfred C Toepfer International GmbH - Germany
- Bulk Trading Sa - Switzerland
- Karbindo Abesyapradhi - Indoneisa
- Sree Jayajothi Cements Limited - India
- Sinarmas Energy and Mining - Indonesia
- Orica Mining Services - Indonesia
- Thai Mozambique Logistica
- Metalloyd Limited - United Kingdom
- Electricity Generating Authority of Thailand
- Mintek Dendrill Indonesia
- Aditya Birla Group - India
- Toyota Tsusho Corporation, Japan
- Billiton Holdings Pty Ltd - Australia
- Cement Manufacturers Association - India
- Samtan Co., Ltd - South Korea
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ministry of Mines - Canada
- Cigading International Bulk Terminal - Indonesia
- Sical Logistics Limited - India
- Parliament of New Zealand
- Indogreen Group - Indonesia
- Tata Chemicals Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- The State Trading Corporation of India Ltd
- South Luzon Thermal Energy Corporation
- Kalimantan Lumbung Energi - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Power Finance Corporation Ltd., India
- White Energy Company Limited
- Goldman Sachs - Singapore
- Krishnapatnam Port Company Ltd. - India
- Posco Energy - South Korea
- Minerals Council of Australia
- Manunggal Multi Energi - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Siam City Cement - Thailand
- Parry Sugars Refinery, India
- Ministry of Finance - Indonesia
- Bayan Resources Tbk. - Indonesia
- Dalmia Cement Bharat India
- Chamber of Mines of South Africa
- Formosa Plastics Group - Taiwan
- Baramulti Group, Indonesia
- Kepco SPC Power Corporation, Philippines
- India Bulls Power Limited - India
- Indian Oil Corporation Limited
- Sarangani Energy Corporation, Philippines
- Mjunction Services Limited - India
- Lanco Infratech Ltd - India
- Deloitte Consulting - India
- Orica Australia Pty. Ltd.
- Bukit Baiduri Energy - Indonesia
- Thiess Contractors Indonesia
- Antam Resourcindo - Indonesia
- Pendopo Energi Batubara - Indonesia
- Bangladesh Power Developement Board
- New Zealand Coal & Carbon
- Anglo American - United Kingdom
- SMG Consultants - Indonesia
- Indika Energy - Indonesia
- LBH Netherlands Bv - Netherlands
- Malabar Cements Ltd - India
- Sindya Power Generating Company Private Ltd
- SMC Global Power, Philippines
- CIMB Investment Bank - Malaysia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Mercator Lines Limited - India
- Ambuja Cements Ltd - India
- Directorate Of Revenue Intelligence - India
- CNBM International Corporation - China
- Bhoruka Overseas - Indonesia
- Bukit Makmur.PT - Indonesia
- Economic Council, Georgia
- Georgia Ports Authority, United States
- GMR Energy Limited - India
- Sakthi Sugars Limited - India
- VISA Power Limited - India
- Globalindo Alam Lestari - Indonesia
- Energy Development Corp, Philippines
- Intertek Mineral Services - Indonesia
- Iligan Light & Power Inc, Philippines
- Timah Investasi Mineral - Indoneisa
- Holcim Trading Pte Ltd - Singapore
- Asmin Koalindo Tuhup - Indonesia
- Bhatia International Limited - India
- Salva Resources Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- Riau Bara Harum - Indonesia
- Vizag Seaport Private Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Jaiprakash Power Ventures ltd
- McConnell Dowell - Australia
- Simpson Spence & Young - Indonesia
- Global Green Power PLC Corporation, Philippines
- San Jose City I Power Corp, Philippines
- Mercuria Energy - Indonesia
- Aboitiz Power Corporation - Philippines
- Eastern Energy - Thailand
- Interocean Group of Companies - India
- Australian Commodity Traders Exchange
- Gujarat Electricity Regulatory Commission - India
- Oldendorff Carriers - Singapore
- Star Paper Mills Limited - India
- Straits Asia Resources Limited - Singapore
- ICICI Bank Limited - India
- Indo Tambangraya Megah - Indonesia
- Wood Mackenzie - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- PowerSource Philippines DevCo
- Australian Coal Association
- TNB Fuel Sdn Bhd - Malaysia
- Global Coal Blending Company Limited - Australia
- Medco Energi Mining Internasional
- Madhucon Powers Ltd - India
- Ind-Barath Power Infra Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Price Waterhouse Coopers - Russia
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