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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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Friday, 02 July 10
MINERALS RESOURCE TAXATION IN AUSTRALIA - PRESS RELEASE
Press Release : Rio Tinto acknowledges the Australian Government’s announcement that the Resource Super Profits Tax (RSPT) proposal will be re ...
Thursday, 01 July 10
TATA POWER TO RAISE US$300 MILLION THROUGH ITS COAL SPVS TO FUND ADDITIONAL ACQUISITIONS AND / OR REDUCE OUTSTANDING DEBT
Stock Markets Review reported that, Tata Power, India’s largest private power player has signed an agreement to raise US$300 million in Bhira ...
Thursday, 01 July 10
HELLENIC SHIPPING NEWS POLL: THE BDI WILL STAY ABOVE 3,000 POINTS IN THE SECOND HALF OF 2010
When Hellenic Shipping News Worldwide prepared June’s poll asking readers about where do they think that the Baltic Dry Index (BDI) will range ...
Thursday, 01 July 10
PANAMAX MARKETS CONTINUE TO DROP IN ALL BASINS - FEARNLEYS
Handy
Atlantic rates continue to slide with little activity. Supras open in USG get low 30´s to Med and mid 40´s to FEast. Hmax/Supra ...
Wednesday, 30 June 10
PTBA TO SUPPLY ADDITIONAL 180 MLN TONS OF COAL TO PLN FOR 20 YEARS
COALspot.com: Indonesia's state-owned coal mining company PT Tambang Batubara Bukit Asam Tbk (PTBA) has entered into a new contract with state owne ...
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- Holcim Trading Pte Ltd - Singapore
- Thai Mozambique Logistica
- Energy Development Corp, Philippines
- Intertek Mineral Services - Indonesia
- Madhucon Powers Ltd - India
- Posco Energy - South Korea
- Parry Sugars Refinery, India
- SMC Global Power, Philippines
- Siam City Cement PLC, Thailand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Jaiprakash Power Ventures ltd
- Mjunction Services Limited - India
- London Commodity Brokers - England
- Iligan Light & Power Inc, Philippines
- Grasim Industreis Ltd - India
- Kobexindo Tractors - Indoneisa
- Xindia Steels Limited - India
- Ambuja Cements Ltd - India
- Minerals Council of Australia
- TeaM Sual Corporation - Philippines
- Maheswari Brothers Coal Limited - India
- McConnell Dowell - Australia
- India Bulls Power Limited - India
- Chettinad Cement Corporation Ltd - India
- Lanco Infratech Ltd - India
- PowerSource Philippines DevCo
- Cigading International Bulk Terminal - Indonesia
- Orica Mining Services - Indonesia
- Parliament of New Zealand
- Formosa Plastics Group - Taiwan
- Kartika Selabumi Mining - Indonesia
- Agrawal Coal Company - India
- Sakthi Sugars Limited - India
- Mintek Dendrill Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- International Coal Ventures Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- Globalindo Alam Lestari - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Sical Logistics Limited - India
- Cement Manufacturers Association - India
- Rio Tinto Coal - Australia
- Australian Coal Association
- Timah Investasi Mineral - Indoneisa
- Vedanta Resources Plc - India
- Medco Energi Mining Internasional
- Binh Thuan Hamico - Vietnam
- Romanian Commodities Exchange
- Bukit Baiduri Energy - Indonesia
- Africa Commodities Group - South Africa
- Power Finance Corporation Ltd., India
- Global Coal Blending Company Limited - Australia
- Metalloyd Limited - United Kingdom
- Kepco SPC Power Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Aboitiz Power Corporation - Philippines
- CIMB Investment Bank - Malaysia
- ICICI Bank Limited - India
- Independent Power Producers Association of India
- Bhatia International Limited - India
- IEA Clean Coal Centre - UK
- Manunggal Multi Energi - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Central Electricity Authority - India
- Indian Energy Exchange, India
- Economic Council, Georgia
- Bayan Resources Tbk. - Indonesia
- European Bulk Services B.V. - Netherlands
- Aditya Birla Group - India
- Mercator Lines Limited - India
- Carbofer General Trading SA - India
- Marubeni Corporation - India
- LBH Netherlands Bv - Netherlands
- Ministry of Transport, Egypt
- Oldendorff Carriers - Singapore
- OPG Power Generation Pvt Ltd - India
- Kideco Jaya Agung - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Tamil Nadu electricity Board
- ASAPP Information Group - India
- Directorate General of MIneral and Coal - Indonesia
- Indika Energy - Indonesia
- Edison Trading Spa - Italy
- Electricity Generating Authority of Thailand
- Siam City Cement - Thailand
- Asmin Koalindo Tuhup - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Dalmia Cement Bharat India
- Semirara Mining Corp, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Global Business Power Corporation, Philippines
- Barasentosa Lestari - Indonesia
- Altura Mining Limited, Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Trasteel International SA, Italy
- Vijayanagar Sugar Pvt Ltd - India
- Thiess Contractors Indonesia
- Uttam Galva Steels Limited - India
- Sindya Power Generating Company Private Ltd
- Bharathi Cement Corporation - India
- Videocon Industries ltd - India
- CNBM International Corporation - China
- Goldman Sachs - Singapore
- Krishnapatnam Port Company Ltd. - India
- Petron Corporation, Philippines
- Merrill Lynch Commodities Europe
- Larsen & Toubro Limited - India
- Energy Link Ltd, New Zealand
- Salva Resources Pvt Ltd - India
- New Zealand Coal & Carbon
- Samtan Co., Ltd - South Korea
- Essar Steel Hazira Ltd - India
- Ministry of Mines - Canada
- GAC Shipping (India) Pvt Ltd
- Tata Chemicals Ltd - India
- Deloitte Consulting - India
- Standard Chartered Bank - UAE
- Anglo American - United Kingdom
- Meralco Power Generation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Toyota Tsusho Corporation, Japan
- Ind-Barath Power Infra Limited - India
- Baramulti Group, Indonesia
- Riau Bara Harum - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Makarim & Taira - Indonesia
- Renaissance Capital - South Africa
- Billiton Holdings Pty Ltd - Australia
- Gujarat Electricity Regulatory Commission - India
- South Luzon Thermal Energy Corporation
- Ministry of Finance - Indonesia
- Borneo Indobara - Indonesia
- Banpu Public Company Limited - Thailand
- Gujarat Sidhee Cement - India
- Heidelberg Cement - Germany
- The University of Queensland
- Chamber of Mines of South Africa
- Australian Commodity Traders Exchange
- Indogreen Group - Indonesia
- Simpson Spence & Young - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Planning Commission, India
- Bukit Asam (Persero) Tbk - Indonesia
- Sree Jayajothi Cements Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Port Waratah Coal Services - Australia
- Savvy Resources Ltd - HongKong
- Jindal Steel & Power Ltd - India
- Orica Australia Pty. Ltd.
- Straits Asia Resources Limited - Singapore
- Coalindo Energy - Indonesia
- Latin American Coal - Colombia
- Kumho Petrochemical, South Korea
- Bangladesh Power Developement Board
- Karaikal Port Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- The State Trading Corporation of India Ltd
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Wood Mackenzie - Singapore
- Meenaskhi Energy Private Limited - India
- Coastal Gujarat Power Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Eastern Coal Council - USA
- GVK Power & Infra Limited - India
- Bukit Makmur.PT - Indonesia
- Price Waterhouse Coopers - Russia
- Attock Cement Pakistan Limited
- Indian Oil Corporation Limited
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Directorate Of Revenue Intelligence - India
- SMG Consultants - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Georgia Ports Authority, United States
- Central Java Power - Indonesia
- Malabar Cements Ltd - India
- PTC India Limited - India
- Rashtriya Ispat Nigam Limited - India
- Singapore Mercantile Exchange
- Kaltim Prima Coal - Indonesia
- Indonesian Coal Mining Association
- Sarangani Energy Corporation, Philippines
- GMR Energy Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Pendopo Energi Batubara - Indonesia
- VISA Power Limited - India
- Mercuria Energy - Indonesia
- SN Aboitiz Power Inc, Philippines
- Star Paper Mills Limited - India
- Indo Tambangraya Megah - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- AsiaOL BioFuels Corp., Philippines
- PNOC Exploration Corporation - Philippines
- San Jose City I Power Corp, Philippines
- Vizag Seaport Private Limited - India
- White Energy Company Limited
- Bahari Cakrawala Sebuku - Indonesia
- Antam Resourcindo - Indonesia
- MS Steel International - UAE
- Electricity Authority, New Zealand
- Eastern Energy - Thailand
- Global Green Power PLC Corporation, Philippines
- Bhushan Steel Limited - India
- Interocean Group of Companies - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- IHS Mccloskey Coal Group - USA
- Coal and Oil Company - UAE
- Commonwealth Bank - Australia
- Bulk Trading Sa - Switzerland
- Wilmar Investment Holdings
- Jorong Barutama Greston.PT - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- The Treasury - Australian Government
- Sojitz Corporation - Japan
- Leighton Contractors Pty Ltd - Australia
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