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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, 19 May 10
DRY BULK FREIGHT RATES' RALLY MAY BE SET TO END
The Baltic Dry Index (BDI) has rallied these past couple of weeks, almost touching the 4,000 point mark. But this positive development for dry bulk ...
Wednesday, 19 May 10
NEWCASTLE WEEKLY EXPORTS RISE; SHIP QUEUE LENGTHENS
Coal shipments from Australia's Newcastle port, the world's biggest export harbor for the fuel used in power stations, rose 2.9 percent last week ...
Tuesday, 18 May 10
THE BDI HIT A FIVE-MONTH HIGH AT THE CLOSE OF LAST WEEK
According to BRS, One of the oldest ship broker, at 3,929 points, the BDI hit a five-month high at the close of last week. The Capesize four time ch ...
Tuesday, 18 May 10
COAL TRADER CHINA QINFA TO BUY TWO BULK CARRIERS FOR 69 MLN USD
China Qinfa Group, a leading non-State-owned coal trader on China's mainland, said Sunday it had signed shipbuilding contracts to pay 69 million U. ...
Monday, 17 May 10
INDONESIA SHIPPED 15.51 PERCENT LESS COAL IN APRIL THAN A MONTH EARLIER
COALspot.com: Indonesia, the world largest coal exporter, shipped 23,331,542 MT of coal in April 2010, compare to 27.61 million tons in ...
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- Meenaskhi Energy Private Limited - India
- Bukit Baiduri Energy - Indonesia
- Electricity Generating Authority of Thailand
- GMR Energy Limited - India
- Gujarat Mineral Development Corp Ltd - India
- IEA Clean Coal Centre - UK
- Asmin Koalindo Tuhup - Indonesia
- Indika Energy - Indonesia
- India Bulls Power Limited - India
- Directorate Of Revenue Intelligence - India
- The Treasury - Australian Government
- Minerals Council of Australia
- Antam Resourcindo - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Coalindo Energy - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Ministry of Transport, Egypt
- Kartika Selabumi Mining - Indonesia
- Makarim & Taira - Indonesia
- Jindal Steel & Power Ltd - India
- The University of Queensland
- Medco Energi Mining Internasional
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Energy Development Corp, Philippines
- Power Finance Corporation Ltd., India
- GVK Power & Infra Limited - India
- Eastern Energy - Thailand
- Tamil Nadu electricity Board
- PowerSource Philippines DevCo
- Planning Commission, India
- Maharashtra Electricity Regulatory Commission - India
- Vijayanagar Sugar Pvt Ltd - India
- Trasteel International SA, Italy
- Bukit Asam (Persero) Tbk - Indonesia
- Ministry of Finance - Indonesia
- Jaiprakash Power Ventures ltd
- Singapore Mercantile Exchange
- Sojitz Corporation - Japan
- Petron Corporation, Philippines
- Mercuria Energy - Indonesia
- Grasim Industreis Ltd - India
- Latin American Coal - Colombia
- AsiaOL BioFuels Corp., Philippines
- Sakthi Sugars Limited - India
- Price Waterhouse Coopers - Russia
- PTC India Limited - India
- Krishnapatnam Port Company Ltd. - India
- Lanco Infratech Ltd - India
- Uttam Galva Steels Limited - India
- Interocean Group of Companies - India
- Sarangani Energy Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- GAC Shipping (India) Pvt Ltd
- Malabar Cements Ltd - India
- Sindya Power Generating Company Private Ltd
- Central Electricity Authority - India
- Xindia Steels Limited - India
- Mjunction Services Limited - India
- South Luzon Thermal Energy Corporation
- Karbindo Abesyapradhi - Indoneisa
- Borneo Indobara - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Kaltim Prima Coal - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Georgia Ports Authority, United States
- Kalimantan Lumbung Energi - Indonesia
- SN Aboitiz Power Inc, Philippines
- Australian Commodity Traders Exchange
- IHS Mccloskey Coal Group - USA
- Iligan Light & Power Inc, Philippines
- Kepco SPC Power Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- LBH Netherlands Bv - Netherlands
- SMC Global Power, Philippines
- London Commodity Brokers - England
- Binh Thuan Hamico - Vietnam
- PetroVietnam Power Coal Import and Supply Company
- Sinarmas Energy and Mining - Indonesia
- Pendopo Energi Batubara - Indonesia
- CIMB Investment Bank - Malaysia
- Chettinad Cement Corporation Ltd - India
- Australian Coal Association
- Electricity Authority, New Zealand
- White Energy Company Limited
- Essar Steel Hazira Ltd - India
- Barasentosa Lestari - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Heidelberg Cement - Germany
- Toyota Tsusho Corporation, Japan
- Posco Energy - South Korea
- Siam City Cement PLC, Thailand
- Coastal Gujarat Power Limited - India
- Dalmia Cement Bharat India
- Semirara Mining Corp, Philippines
- Kumho Petrochemical, South Korea
- Tata Chemicals Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Parliament of New Zealand
- Bayan Resources Tbk. - Indonesia
- International Coal Ventures Pvt Ltd - India
- SMG Consultants - Indonesia
- Independent Power Producers Association of India
- OPG Power Generation Pvt Ltd - India
- Parry Sugars Refinery, India
- Madhucon Powers Ltd - India
- Rio Tinto Coal - Australia
- Standard Chartered Bank - UAE
- Romanian Commodities Exchange
- Sree Jayajothi Cements Limited - India
- Bangladesh Power Developement Board
- Commonwealth Bank - Australia
- Thai Mozambique Logistica
- Kohat Cement Company Ltd. - Pakistan
- GN Power Mariveles Coal Plant, Philippines
- Kideco Jaya Agung - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Ambuja Cements Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- MS Steel International - UAE
- Gujarat Sidhee Cement - India
- Kapuas Tunggal Persada - Indonesia
- Meralco Power Generation, Philippines
- Cement Manufacturers Association - India
- Kobexindo Tractors - Indoneisa
- Altura Mining Limited, Indonesia
- Aditya Birla Group - India
- ASAPP Information Group - India
- Indo Tambangraya Megah - Indonesia
- Deloitte Consulting - India
- Bulk Trading Sa - Switzerland
- Savvy Resources Ltd - HongKong
- The State Trading Corporation of India Ltd
- Bhushan Steel Limited - India
- Siam City Cement - Thailand
- Miang Besar Coal Terminal - Indonesia
- Ind-Barath Power Infra Limited - India
- Manunggal Multi Energi - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Port Waratah Coal Services - Australia
- Coal and Oil Company - UAE
- Larsen & Toubro Limited - India
- Mintek Dendrill Indonesia
- Marubeni Corporation - India
- Petrochimia International Co. Ltd.- Taiwan
- Goldman Sachs - Singapore
- TeaM Sual Corporation - Philippines
- Renaissance Capital - South Africa
- Gujarat Electricity Regulatory Commission - India
- San Jose City I Power Corp, Philippines
- Wilmar Investment Holdings
- Indogreen Group - Indonesia
- Videocon Industries ltd - India
- Ministry of Mines - Canada
- Sical Logistics Limited - India
- Mercator Lines Limited - India
- Edison Trading Spa - Italy
- Maheswari Brothers Coal Limited - India
- Simpson Spence & Young - Indonesia
- Global Green Power PLC Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- European Bulk Services B.V. - Netherlands
- Energy Link Ltd, New Zealand
- Semirara Mining and Power Corporation, Philippines
- Orica Australia Pty. Ltd.
- New Zealand Coal & Carbon
- CNBM International Corporation - China
- Economic Council, Georgia
- Bhatia International Limited - India
- Billiton Holdings Pty Ltd - Australia
- Bhoruka Overseas - Indonesia
- Karaikal Port Pvt Ltd - India
- Central Java Power - Indonesia
- Indonesian Coal Mining Association
- Carbofer General Trading SA - India
- TNB Fuel Sdn Bhd - Malaysia
- VISA Power Limited - India
- Salva Resources Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- Merrill Lynch Commodities Europe
- Wood Mackenzie - Singapore
- Agrawal Coal Company - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Global Business Power Corporation, Philippines
- Indian Oil Corporation Limited
- Banpu Public Company Limited - Thailand
- Orica Mining Services - Indonesia
- Indian Energy Exchange, India
- Therma Luzon, Inc, Philippines
- Leighton Contractors Pty Ltd - Australia
- Attock Cement Pakistan Limited
- Star Paper Mills Limited - India
- Vedanta Resources Plc - India
- Oldendorff Carriers - Singapore
- Samtan Co., Ltd - South Korea
- Riau Bara Harum - Indonesia
- ICICI Bank Limited - India
- Africa Commodities Group - South Africa
- Anglo American - United Kingdom
- Timah Investasi Mineral - Indoneisa
- Rashtriya Ispat Nigam Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Global Coal Blending Company Limited - Australia
- Baramulti Group, Indonesia
- Thiess Contractors Indonesia
- PNOC Exploration Corporation - Philippines
- Straits Asia Resources Limited - Singapore
- Chamber of Mines of South Africa
- Formosa Plastics Group - Taiwan
- Metalloyd Limited - United Kingdom
- Vizag Seaport Private Limited - India
- Bukit Makmur.PT - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- McConnell Dowell - Australia
- Eastern Coal Council - USA
- Bharathi Cement Corporation - India
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