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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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Friday, 29 May 09
INDONESIA PLANS "CLEARING HOUSE" FOR COAL - ALIBABA
Alibaba reported that, Indonesia, the world's biggest thermal coal exporter, plans to set up an agency similar to a clearing house to trade stocks ...
Friday, 29 May 09
INDIKA EYES MORE ACQUISITIONS - THE JAKARTA POST
Having nearly completed the acquisition of engineering and mining company PT Petrosea, energy company PT Indika Energy is preparing for more acquisi ...
Friday, 29 May 09
PTBA PAYS DIVIDENDS OF RP 371.5 A SHARE - THE JAKARTA POST
The annual shareholders' meeting of state-controlled coal producer PT Tambang Batubara Bukit Asam (PTBA) approved on Thursday the allocation of 50 ...
Thursday, 28 May 09
INDIANS CHOOSE SOUTH AFRICA COAL OVER INDONESIAN - MINEWEB (REUTERS)
South African cargoes are about $4 a tonne cheaper than Indonesian coal, as a result India now prefers South Africa .
Indian imports of South Afr ...
Wednesday, 27 May 09
NEWCASTLE PORT'S WEEKLY COAL EXPORTS INCREASE 3.6% - BLOOMBERG
Coal shipments from Australia’s Newcastle port, the world’s biggest export harbor for the fuel, rose 3.6 percent last week while the num ...
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- Ministry of Finance - Indonesia
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- Global Coal Blending Company Limited - Australia
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- Romanian Commodities Exchange
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- Commonwealth Bank - Australia
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- Metalloyd Limited - United Kingdom
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- Karbindo Abesyapradhi - Indoneisa
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- Petron Corporation, Philippines
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- OPG Power Generation Pvt Ltd - India
- SMG Consultants - Indonesia
- Indonesian Coal Mining Association
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- Pendopo Energi Batubara - Indonesia
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- Economic Council, Georgia
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- Antam Resourcindo - Indonesia
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- Electricity Authority, New Zealand
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- Miang Besar Coal Terminal - Indonesia
- MS Steel International - UAE
- Central Java Power - Indonesia
- Bulk Trading Sa - Switzerland
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- Manunggal Multi Energi - Indonesia
- Holcim Trading Pte Ltd - Singapore
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- International Coal Ventures Pvt Ltd - India
- Energy Link Ltd, New Zealand
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- GMR Energy Limited - India
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- Orica Mining Services - Indonesia
- Sical Logistics Limited - India
- The University of Queensland
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- Barasentosa Lestari - Indonesia
- Jaiprakash Power Ventures ltd
- Energy Development Corp, Philippines
- Bhoruka Overseas - Indonesia
- Therma Luzon, Inc, Philippines
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- Alfred C Toepfer International GmbH - Germany
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- Samtan Co., Ltd - South Korea
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- Altura Mining Limited, Indonesia
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- Sojitz Corporation - Japan
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- Dalmia Cement Bharat India
- Australian Coal Association
- Semirara Mining and Power Corporation, Philippines
- Port Waratah Coal Services - Australia
- Renaissance Capital - South Africa
- Standard Chartered Bank - UAE
- Banpu Public Company Limited - Thailand
- Sarangani Energy Corporation, Philippines
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- Intertek Mineral Services - Indonesia
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- Tata Chemicals Ltd - India
- Chamber of Mines of South Africa
- Thai Mozambique Logistica
- Meenaskhi Energy Private Limited - India
- Sindya Power Generating Company Private Ltd
- McConnell Dowell - Australia
- Eastern Coal Council - USA
- Bayan Resources Tbk. - Indonesia
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- Mjunction Services Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
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- Kartika Selabumi Mining - Indonesia
- Directorate Of Revenue Intelligence - India
- Kapuas Tunggal Persada - Indonesia
- White Energy Company Limited
- Directorate General of MIneral and Coal - Indonesia
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