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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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Saturday, 08 May 10
THE FUTURES FOR THREE YEARS (2010-2012) WAS AT AROUND PANAMAX / $ 21500 & SUPRAMAX / $ 18500 PER DAY - VISTAAR SHIPPING
COALspot.com: The BDI continued to go up and was up by 7.57 pct even though the stock markets was severely affected with worries on Greek debt crisi ...
Saturday, 08 May 10
MAHAGENCO TO IMPORT 3.35 MILLION TON OF COAL
COALspot.com: Indian utility Maharashtra State Power Generation Co. Ltd. is in market for 3.35 million tones of imported coal. The purchase of coal ...
Saturday, 08 May 10
NAPOCOR BUYS 122,000 TONS COAL - ABC CBN NEWS
ABC - CBN News reported that, State-run National Power Corp. (Napocor) said on Thursday it awarded 2 contracts for the supply of a total 122,000 ton ...
Saturday, 08 May 10
RICHARDS BAY COAL SHIPMENTS FALL TO AN 11-MONTH LOW - BLOOMBERG
Bloomberg reported that, Coal shipments from Richards Bay Coal Terminal, Africa’s biggest export facility for the fuel, fell to an 11-month lo ...
Tuesday, 04 May 10
APRIL 2010 COAL PRICE REFERENCE WAS US$ 86.58/T FOB VESSEL
COALspot.com: The directorate general of mineral, coal and geothermal of Indonesia has publishing a monthly coal price reference (HBA) to be used by ...
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- Directorate General of MIneral and Coal - Indonesia
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- Mintek Dendrill Indonesia
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- The Treasury - Australian Government
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- White Energy Company Limited
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- Gujarat Electricity Regulatory Commission - India
- Intertek Mineral Services - Indonesia
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- Trasteel International SA, Italy
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- Metalloyd Limited - United Kingdom
- Petron Corporation, Philippines
- Mjunction Services Limited - India
- Sojitz Corporation - Japan
- Bahari Cakrawala Sebuku - Indonesia
- Wood Mackenzie - Singapore
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- Thai Mozambique Logistica
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- Romanian Commodities Exchange
- TNB Fuel Sdn Bhd - Malaysia
- Indo Tambangraya Megah - Indonesia
- Indian Energy Exchange, India
- India Bulls Power Limited - India
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- Ministry of Transport, Egypt
- Electricity Authority, New Zealand
- McConnell Dowell - Australia
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- Goldman Sachs - Singapore
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- PTC India Limited - India
- Tata Chemicals Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
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- Medco Energi Mining Internasional
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- Indogreen Group - Indonesia
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- Standard Chartered Bank - UAE
- The University of Queensland
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- Economic Council, Georgia
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- OPG Power Generation Pvt Ltd - India
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- Commonwealth Bank - Australia
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- Gujarat Mineral Development Corp Ltd - India
- Port Waratah Coal Services - Australia
- London Commodity Brokers - England
- Price Waterhouse Coopers - Russia
- CNBM International Corporation - China
- San Jose City I Power Corp, Philippines
- Maheswari Brothers Coal Limited - India
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- PowerSource Philippines DevCo
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- Karbindo Abesyapradhi - Indoneisa
- VISA Power Limited - India
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- Posco Energy - South Korea
- Merrill Lynch Commodities Europe
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- Malabar Cements Ltd - India
- Anglo American - United Kingdom
- Kepco SPC Power Corporation, Philippines
- Eastern Coal Council - USA
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- SMG Consultants - Indonesia
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- Pendopo Energi Batubara - Indonesia
- Essar Steel Hazira Ltd - India
- Vizag Seaport Private Limited - India
- Sakthi Sugars Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Kohat Cement Company Ltd. - Pakistan
- Africa Commodities Group - South Africa
- Ministry of Finance - Indonesia
- Mercator Lines Limited - India
- Mercuria Energy - Indonesia
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- Holcim Trading Pte Ltd - Singapore
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