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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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Tuesday, 01 September 09
GLOBAL COAL PRICES UNDER PRESSURE AS CHINESE PROVINCE RETURNS TO THE PRODUCTION FRAY - REUTERS
China is set to return to role of coal exporter as the deadline for thousands of small coal mines in its Shanxi province to reopen after being shut ...
Tuesday, 01 September 09
INDONESIA PLN SECURES 1.9 MILLION TONNES COAL FOR NEW POWER PLANT
Reuters reported that Indonesia's state electricity firm PT Perusahaan Listrik Negara has secured 1.9 million tonnes of sub bituminous coal per yea ...
Tuesday, 01 September 09
EXPORT OF COAL RAW MATERIAL SHOULD BE REDUCED - INDONESIAN OFFICIAL
Antara reported that, Coal producing companies should reduce the volume of their export of coal raw material and increase the volume of their finish ...
Tuesday, 01 September 09
NEWCASTLE WEEKLY COAL EXPORTS RISE 23%, SHIP QUEUE DECREASES
Bloomberg reported that, Coal shipments from Australia’s Newcastle port, the world’s biggest export harbor for the fuel, rose 23 percent ...
Monday, 31 August 09
INDIA MMTC ISSUE TENDER TO IMPORT 12.5 MMT COAL TO BE SUPPLIED OVER A PERIOD OF 12 MONTHS
COALspot.com (India): MMTC has re-issued a tender to import 12.50 Million Metric Tonnes (12.50 MMT) (+/- 2%) of thermal coal to be supplied over a p ...
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- Bayan Resources Tbk. - Indonesia
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- Metalloyd Limited - United Kingdom
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- Energy Development Corp, Philippines
- London Commodity Brokers - England
- Minerals Council of Australia
- Commonwealth Bank - Australia
- Ministry of Transport, Egypt
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- Malabar Cements Ltd - India
- The Treasury - Australian Government
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- Essar Steel Hazira Ltd - India
- Maheswari Brothers Coal Limited - India
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- Romanian Commodities Exchange
- Oldendorff Carriers - Singapore
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- McConnell Dowell - Australia
- Bhushan Steel Limited - India
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- Kalimantan Lumbung Energi - Indonesia
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- Economic Council, Georgia
- LBH Netherlands Bv - Netherlands
- Altura Mining Limited, Indonesia
- Star Paper Mills Limited - India
- Straits Asia Resources Limited - Singapore
- Edison Trading Spa - Italy
- Jorong Barutama Greston.PT - Indonesia
- Lanco Infratech Ltd - India
- IHS Mccloskey Coal Group - USA
- Kumho Petrochemical, South Korea
- Alfred C Toepfer International GmbH - Germany
- European Bulk Services B.V. - Netherlands
- New Zealand Coal & Carbon
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- Merrill Lynch Commodities Europe
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- GAC Shipping (India) Pvt Ltd
- MS Steel International - UAE
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- Kapuas Tunggal Persada - Indonesia
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- Interocean Group of Companies - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- IEA Clean Coal Centre - UK
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- Goldman Sachs - Singapore
- Tata Chemicals Ltd - India
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- Planning Commission, India
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- Carbofer General Trading SA - India
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- Filglen & Citicon Mining (HK) Ltd - Hong Kong
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- Vizag Seaport Private Limited - India
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- Thiess Contractors Indonesia
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