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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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Monday, 24 May 10
PAMA TO CLOSE COALS ACQUISITION IN 2010
Insider Stories reported that, Indonesia's largest coal mining contractor PT Pamapersada Nusantara, subsidiary of PT United Tractors Tbk (UNTR), wi ...
Sunday, 23 May 10
SINGARENI LEVIES PREMIUM TO BALANCE COAL DEMAND - BUSINESS STANDARD
Business-Standard reported that, In view of the rising demand for coal, Singareni Collieries Company Limited has recently levied a premium on c ...
Saturday, 22 May 10
THE BRENT CRUDE PRICES WAS SHARPLY DOWN AT US$ 71.72 PER BARREL - VISTAAR SHIPPING
COALspot.com: The freight market was under pressure with the caps size index down by 10 pct with uncertainty in Europe crisis continuing.
The BD ...
Saturday, 22 May 10
PORT CONGESTION IN AUSTRALIA HELPING RATES CHINA COAL IMPORT BOOM TO CUSHION FREIGHT RATES
China's record coal imports this year will provide some support to freight rates but growing pressure from fleet oversupply is set to limit gains. ...
Saturday, 22 May 10
INDUSTRY QUESTIONS STEAM COAL PRICE ANOMALY
Five South Korean utilities have secured a deal for 3.13 million tonnes of Australian thermal coal with a calorific value of 6,080kcal/kg for delive ...
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- Cement Manufacturers Association - India
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- Petron Corporation, Philippines
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- Minerals Council of Australia
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- Indonesian Coal Mining Association
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- Australian Commodity Traders Exchange
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- Bulk Trading Sa - Switzerland
- Therma Luzon, Inc, Philippines
- Renaissance Capital - South Africa
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- Tamil Nadu electricity Board
- Global Business Power Corporation, Philippines
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- White Energy Company Limited
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- Global Coal Blending Company Limited - Australia
- Globalindo Alam Lestari - Indonesia
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- Energy Development Corp, Philippines
- TNB Fuel Sdn Bhd - Malaysia
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- Dalmia Cement Bharat India
- Mjunction Services Limited - India
- Wood Mackenzie - Singapore
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- Coalindo Energy - Indonesia
- Ministry of Mines - Canada
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- Miang Besar Coal Terminal - Indonesia
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- Attock Cement Pakistan Limited
- Directorate Of Revenue Intelligence - India
- Economic Council, Georgia
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- Star Paper Mills Limited - India
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- Power Finance Corporation Ltd., India
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- Timah Investasi Mineral - Indoneisa
- Indogreen Group - Indonesia
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- The Treasury - Australian Government
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- Formosa Plastics Group - Taiwan
- Leighton Contractors Pty Ltd - Australia
- Planning Commission, India
- Standard Chartered Bank - UAE
- SN Aboitiz Power Inc, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- MS Steel International - UAE
- Eastern Energy - Thailand
- Heidelberg Cement - Germany
- Bharathi Cement Corporation - India
- Global Green Power PLC Corporation, Philippines
- Grasim Industreis Ltd - India
- Bangladesh Power Developement Board
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- Australian Coal Association
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- Directorate General of MIneral and Coal - Indonesia
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- Bahari Cakrawala Sebuku - Indonesia
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- Latin American Coal - Colombia
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- Karaikal Port Pvt Ltd - India
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- Africa Commodities Group - South Africa
- Toyota Tsusho Corporation, Japan
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- McConnell Dowell - Australia
- South Luzon Thermal Energy Corporation
- Straits Asia Resources Limited - Singapore
- IEA Clean Coal Centre - UK
- Sree Jayajothi Cements Limited - India
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- Price Waterhouse Coopers - Russia
- Salva Resources Pvt Ltd - India
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