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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, 31 March 10
DRY BULK MARKET STILL MODERATELY FALLING, BUT POSITIVE SIGNS APPEAR ON THE HORIZON - HELLENIC SHIPPING
The irregularities of the current dry bulk market have been more than evident in the fact that panamax vessels today earn more than their larger cap ...
Wednesday, 31 March 10
INDIKA ENERGYS PROFIT HIT BY FOREX LOSS AND CABOTAGE - THE JAKARTA GLOBE
The Jakarta Globe reportd that, PT Indika Energy posted a 30 percent drop in 2009 net profit due to a foreign exchange loss and impairment of intang ...
Wednesday, 31 March 10
ITMG TO UP COAL OUTPUT DESPITE PERMIT PROBLEMS - THE JAKARTA POST
The Jakarta Post reported that, the country’s third largest coal producer PT Indo Tambang Raya Megah (ITMG) said it can raise output although ...
Tuesday, 30 March 10
ANALYST SEES BDI LIFT, SUGGESTS DRY BULK SHORT SQUEEZE
Analysts at Credit Suisse are bullish on Diana and see a potential short squeeze elsewhere in the sector. The Baltic Dry Index (BDI) -- an industry ...
Tuesday, 30 March 10
CHINA'S DROUGHT RAISES COAL PRICES, LOWERS HYDROPOWER
Bloomberg reported that, Benchmark coal prices at Qinhuangdao, China’s largest port handling the fuel, rose for the first time in 10 weeks aft ...
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- Eastern Coal Council - USA
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- Ministry of Transport, Egypt
- The University of Queensland
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- Indian Oil Corporation Limited
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- Filglen & Citicon Mining (HK) Ltd - Hong Kong
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- Commonwealth Bank - Australia
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- Electricity Authority, New Zealand
- Timah Investasi Mineral - Indoneisa
- Directorate General of MIneral and Coal - Indonesia
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- Chettinad Cement Corporation Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- GMR Energy Limited - India
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- White Energy Company Limited
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- Bahari Cakrawala Sebuku - Indonesia
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- Indian Energy Exchange, India
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- Orica Australia Pty. Ltd.
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- Straits Asia Resources Limited - Singapore
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- Global Coal Blending Company Limited - Australia
- Riau Bara Harum - Indonesia
- IEA Clean Coal Centre - UK
- Cement Manufacturers Association - India
- SN Aboitiz Power Inc, Philippines
- Standard Chartered Bank - UAE
- Planning Commission, India
- Renaissance Capital - South Africa
- Tamil Nadu electricity Board
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- GVK Power & Infra Limited - India
- Aboitiz Power Corporation - Philippines
- Meenaskhi Energy Private Limited - India
- Energy Link Ltd, New Zealand
- Jorong Barutama Greston.PT - Indonesia
- Wood Mackenzie - Singapore
- Independent Power Producers Association of India
- Trasteel International SA, Italy
- Central Electricity Authority - India
- India Bulls Power Limited - India
- Minerals Council of Australia
- Coal and Oil Company - UAE
- Anglo American - United Kingdom
- Bank of Tokyo Mitsubishi UFJ Ltd
- Vijayanagar Sugar Pvt Ltd - India
- Power Finance Corporation Ltd., India
- Mjunction Services Limited - India
- Indo Tambangraya Megah - Indonesia
- MS Steel International - UAE
- Indonesian Coal Mining Association
- Energy Development Corp, Philippines
- PTC India Limited - India
- Rashtriya Ispat Nigam Limited - India
- Merrill Lynch Commodities Europe
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- Thiess Contractors Indonesia
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- Australian Coal Association
- Neyveli Lignite Corporation Ltd, - India
- Romanian Commodities Exchange
- Borneo Indobara - Indonesia
- Directorate Of Revenue Intelligence - India
- Ministry of Mines - Canada
- Billiton Holdings Pty Ltd - Australia
- GAC Shipping (India) Pvt Ltd
- Krishnapatnam Port Company Ltd. - India
- Agrawal Coal Company - India
- Chamber of Mines of South Africa
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- Uttam Galva Steels Limited - India
- Singapore Mercantile Exchange
- Australian Commodity Traders Exchange
- Sojitz Corporation - Japan
- Bukit Baiduri Energy - Indonesia
- Medco Energi Mining Internasional
- Kobexindo Tractors - Indoneisa
- Bangladesh Power Developement Board
- Rio Tinto Coal - Australia
- Parliament of New Zealand
- Latin American Coal - Colombia
- Kapuas Tunggal Persada - Indonesia
- Sical Logistics Limited - India
- Banpu Public Company Limited - Thailand
- Sindya Power Generating Company Private Ltd
- Asia Pacific Energy Resources Ventures Inc, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- European Bulk Services B.V. - Netherlands
- OPG Power Generation Pvt Ltd - India
- Carbofer General Trading SA - India
- McConnell Dowell - Australia
- Ceylon Electricity Board - Sri Lanka
- Kumho Petrochemical, South Korea
- Therma Luzon, Inc, Philippines
- Makarim & Taira - Indonesia
- Goldman Sachs - Singapore
- SMC Global Power, Philippines
- Global Business Power Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
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- Parry Sugars Refinery, India
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- Deloitte Consulting - India
- Vedanta Resources Plc - India
- Wilmar Investment Holdings
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- Edison Trading Spa - Italy
- Price Waterhouse Coopers - Russia
- Alfred C Toepfer International GmbH - Germany
- TeaM Sual Corporation - Philippines
- The State Trading Corporation of India Ltd
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- Sree Jayajothi Cements Limited - India
- Georgia Ports Authority, United States
- Sarangani Energy Corporation, Philippines
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- CIMB Investment Bank - Malaysia
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- Kartika Selabumi Mining - Indonesia
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- Sakthi Sugars Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- Oldendorff Carriers - Singapore
- LBH Netherlands Bv - Netherlands
- Petron Corporation, Philippines
- Metalloyd Limited - United Kingdom
- Savvy Resources Ltd - HongKong
- Africa Commodities Group - South Africa
- Jindal Steel & Power Ltd - India
- Leighton Contractors Pty Ltd - Australia
- New Zealand Coal & Carbon
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- GN Power Mariveles Coal Plant, Philippines
- Mintek Dendrill Indonesia
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- London Commodity Brokers - England
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- ICICI Bank Limited - India
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- Economic Council, Georgia
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