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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, 13 May 10
ACTIVITY ON WEST COAST INDIA IS SLOWING - FEARNLEYS AS
DRY BULK CHARTERING
Handy
Atlantic markets remain firm but more for end May/beg June dates as there seems to be more enquiries for those dates. ...
Thursday, 13 May 10
DRY BULK SHIP OWNERS CHEERFUL AMID MARKET RALLY
China’s appetite for raw materials like iron ore and coal, as well as a series of added factors are boosting demand for dry bulk carriers, hel ...
Wednesday, 12 May 10
BANPU'S Q1 PROFIT SLIDES 43% TO B2.71BN - BANGKOK POST
The Bangkokpost reported that, Banpu Plc posted a first-quarter net profit of 2.71 billion baht, down by 43% from the same period last year.
The ...
Tuesday, 11 May 10
DALRYMPLE BAY COAL EXPORTS HIGHEST SINCE JULY; NEWCASTLE FALLS - BLOOMBERG
Bloomberg reported that, Coal shipments from Australia’s Dalrymple Bay terminal in Queensland state rose to the highest in nine months in Apri ...
Tuesday, 11 May 10
DRY BULK RATES SHOOT UP ON STRONG CARGO DEMAND
The dry bulk industry’s benchmark, the Baltic Dry Index (BDI) has kept its momentum, as predicted by analysts and shipping experts, managing t ...
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- Star Paper Mills Limited - India
- Economic Council, Georgia
- Standard Chartered Bank - UAE
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- MS Steel International - UAE
- Sojitz Corporation - Japan
- European Bulk Services B.V. - Netherlands
- Aboitiz Power Corporation - Philippines
- The Treasury - Australian Government
- Deloitte Consulting - India
- Semirara Mining and Power Corporation, Philippines
- Commonwealth Bank - Australia
- Rio Tinto Coal - Australia
- Bhushan Steel Limited - India
- Anglo American - United Kingdom
- Leighton Contractors Pty Ltd - Australia
- Bhatia International Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Port Waratah Coal Services - Australia
- Lanco Infratech Ltd - India
- Eastern Energy - Thailand
- Offshore Bulk Terminal Pte Ltd, Singapore
- TNB Fuel Sdn Bhd - Malaysia
- Asmin Koalindo Tuhup - Indonesia
- Samtan Co., Ltd - South Korea
- Orica Australia Pty. Ltd.
- Ind-Barath Power Infra Limited - India
- Ceylon Electricity Board - Sri Lanka
- Ministry of Finance - Indonesia
- Central Electricity Authority - India
- London Commodity Brokers - England
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Metalloyd Limited - United Kingdom
- Energy Development Corp, Philippines
- Kideco Jaya Agung - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Orica Mining Services - Indonesia
- ICICI Bank Limited - India
- Sree Jayajothi Cements Limited - India
- McConnell Dowell - Australia
- Electricity Authority, New Zealand
- Riau Bara Harum - Indonesia
- Energy Link Ltd, New Zealand
- Maheswari Brothers Coal Limited - India
- Wood Mackenzie - Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indonesian Coal Mining Association
- Siam City Cement PLC, Thailand
- Parry Sugars Refinery, India
- Ambuja Cements Ltd - India
- GMR Energy Limited - India
- Xindia Steels Limited - India
- Ministry of Mines - Canada
- PNOC Exploration Corporation - Philippines
- Maharashtra Electricity Regulatory Commission - India
- Karbindo Abesyapradhi - Indoneisa
- Australian Commodity Traders Exchange
- Independent Power Producers Association of India
- Globalindo Alam Lestari - Indonesia
- Bayan Resources Tbk. - Indonesia
- White Energy Company Limited
- South Luzon Thermal Energy Corporation
- Central Java Power - Indonesia
- Attock Cement Pakistan Limited
- Meralco Power Generation, Philippines
- Kaltim Prima Coal - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Renaissance Capital - South Africa
- Borneo Indobara - Indonesia
- Medco Energi Mining Internasional
- Global Business Power Corporation, Philippines
- GVK Power & Infra Limited - India
- Antam Resourcindo - Indonesia
- India Bulls Power Limited - India
- Kartika Selabumi Mining - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bahari Cakrawala Sebuku - Indonesia
- LBH Netherlands Bv - Netherlands
- Videocon Industries ltd - India
- Vizag Seaport Private Limited - India
- Sakthi Sugars Limited - India
- CNBM International Corporation - China
- Vedanta Resources Plc - India
- Africa Commodities Group - South Africa
- Miang Besar Coal Terminal - Indonesia
- Planning Commission, India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Thiess Contractors Indonesia
- IHS Mccloskey Coal Group - USA
- Posco Energy - South Korea
- PowerSource Philippines DevCo
- Marubeni Corporation - India
- Thai Mozambique Logistica
- Jaiprakash Power Ventures ltd
- Mercuria Energy - Indonesia
- Siam City Cement - Thailand
- New Zealand Coal & Carbon
- Georgia Ports Authority, United States
- Petrochimia International Co. Ltd.- Taiwan
- Gujarat Sidhee Cement - India
- Tamil Nadu electricity Board
- Krishnapatnam Port Company Ltd. - India
- Edison Trading Spa - Italy
- SMC Global Power, Philippines
- The State Trading Corporation of India Ltd
- Simpson Spence & Young - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Power Finance Corporation Ltd., India
- The University of Queensland
- Mercator Lines Limited - India
- Cement Manufacturers Association - India
- Jindal Steel & Power Ltd - India
- Madhucon Powers Ltd - India
- Minerals Council of Australia
- Electricity Generating Authority of Thailand
- Salva Resources Pvt Ltd - India
- Singapore Mercantile Exchange
- Sinarmas Energy and Mining - Indonesia
- Makarim & Taira - Indonesia
- Semirara Mining Corp, Philippines
- Billiton Holdings Pty Ltd - Australia
- Uttam Galva Steels Limited - India
- Bharathi Cement Corporation - India
- Mjunction Services Limited - India
- GAC Shipping (India) Pvt Ltd
- Australian Coal Association
- Meenaskhi Energy Private Limited - India
- Petron Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- Sical Logistics Limited - India
- IEA Clean Coal Centre - UK
- Global Green Power PLC Corporation, Philippines
- Indian Energy Exchange, India
- Kumho Petrochemical, South Korea
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ministry of Transport, Egypt
- Indogreen Group - Indonesia
- Savvy Resources Ltd - HongKong
- Price Waterhouse Coopers - Russia
- International Coal Ventures Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Interocean Group of Companies - India
- Iligan Light & Power Inc, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Bhoruka Overseas - Indonesia
- Mintek Dendrill Indonesia
- Karaikal Port Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- Dalmia Cement Bharat India
- Trasteel International SA, Italy
- GN Power Mariveles Coal Plant, Philippines
- Bukit Baiduri Energy - Indonesia
- Wilmar Investment Holdings
- Global Coal Blending Company Limited - Australia
- Intertek Mineral Services - Indonesia
- Eastern Coal Council - USA
- Timah Investasi Mineral - Indoneisa
- Directorate Of Revenue Intelligence - India
- Altura Mining Limited, Indonesia
- SMG Consultants - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Latin American Coal - Colombia
- Aditya Birla Group - India
- Binh Thuan Hamico - Vietnam
- VISA Power Limited - India
- Sarangani Energy Corporation, Philippines
- Carbofer General Trading SA - India
- Therma Luzon, Inc, Philippines
- Kepco SPC Power Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Merrill Lynch Commodities Europe
- Sindya Power Generating Company Private Ltd
- Coal and Oil Company - UAE
- Kalimantan Lumbung Energi - Indonesia
- Heidelberg Cement - Germany
- Pendopo Energi Batubara - Indonesia
- Romanian Commodities Exchange
- Coalindo Energy - Indonesia
- Indo Tambangraya Megah - Indonesia
- Bangladesh Power Developement Board
- SN Aboitiz Power Inc, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- PTC India Limited - India
- Bukit Makmur.PT - Indonesia
- Indika Energy - Indonesia
- Toyota Tsusho Corporation, Japan
- San Jose City I Power Corp, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Grasim Industreis Ltd - India
- OPG Power Generation Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Essar Steel Hazira Ltd - India
- Baramulti Group, Indonesia
- Barasentosa Lestari - Indonesia
- ASAPP Information Group - India
- Tata Chemicals Ltd - India
- Parliament of New Zealand
- Formosa Plastics Group - Taiwan
- Indian Oil Corporation Limited
- Agrawal Coal Company - India
- Coastal Gujarat Power Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Larsen & Toubro Limited - India
- Cigading International Bulk Terminal - Indonesia
- Manunggal Multi Energi - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Bulk Trading Sa - Switzerland
- Malabar Cements Ltd - India
- Goldman Sachs - Singapore
- CIMB Investment Bank - Malaysia
- Kobexindo Tractors - Indoneisa
- Banpu Public Company Limited - Thailand
- Straits Asia Resources Limited - Singapore
- Oldendorff Carriers - Singapore
- Chamber of Mines of South Africa
- Vijayanagar Sugar Pvt Ltd - India
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