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Saturday, 22 January 11
POSSIBLE COAL EXPORT RESTRICTIONS ON INDONESIA UNLIKELY TO AFFECT CHURCHILL MINING - PROACTIVE INVESTORS
 Proactive Investors reported that, Churchill Mining moved to reassure investors after a fall in its share price, stating that from talks with the authorities in Indonesia, it believes that any potential coal export restrictions may not affect it because of its supply arrangements with Indonesia’s state power provider PLN.
The statement was in response to today’s 8 percent decline in Churchill’s share price, apparently triggered by press speculation about the government’s possible plans to introduce export restrictions on certain grades of coal.
On Thursday, reports surfaced that Indonesia is preparing to place a ban on the export of low quality coal with an energy value of below 5,600 kilocalories per kilogram. The government wants producers to upgrade the coal to a higher energy value product in an effort to increase the country’s export revenue.
“From discussion with the relevant authorities, Churchill believes that any export restrictions will not apply to all producers and expects that further details may clarify that any export restrictions may not apply to Churchill because of the coal supply arrangement in place with the PLN,” said Churchill.
Churchill has created an Indonesian advisory board, which is participating in the ongoing discussions, that “guarantees access to all levels of industry and government” and it has negotiated an off-take deal with the state electricity company.
The company pledged to update the market “when appropriate”.
Churchill also reiterated that it is working with Indonesian state power provider PLN, expecting to meet all of its obligations to supply the domestic market via this relationship.
Back in December, Churchill acquired the land to be used as the site of the future port facility for the shipment of coal from the East Kutai project in Indonesia.Churchill has hired Credit Suisse to find a “big brother with deep pockets” to fund the development of the mine, which has a net present value of US$1.8 billion.
However, Churchill is keeping all of its options open and is still looking at possibly running East Kutai as a stand-alone project funded by equity and debt.
In September the company passed a major milestone when the eagerly awaited feasibility study confirmed East Kutai as a world class deposit with a JORC resource of 2.73 billion tonnes.
Source: Proactive Investors
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Monday, 14 March 11
IRON ORE TRADING WORLD EUROPE 2011
Press Release - Strategy and opportunity for miners, steelmakers, end users and the financial community.
The iron ore spot market is growing at a ...
Sunday, 13 March 11
COAL NO LONGER A CHEAP ENERGY SOURCE - THE SUNDAY LEADER
The Sunday Leader reported that, the addition of power generated through coal power to the country’s national grid was initially expected to r ...
Sunday, 13 March 11
THE FREIGHT MARKET SEEMS WILL BE FIRM FOR MARCH AND APRIL - VISTAAR
COALspot.com - The freight market continued to rise with the BDI crossing 1500 points and the cape size index up by 32 pct and all other segments al ...
Friday, 11 March 11
THE HANDY MARKET IS QUITE VOLATILE
Handy
Lacklustre week as the USG is the only bright light with high volumes of petcoke/coal into the Med (paying mid 20´s bss aps USG). Litt ...
Thursday, 10 March 11
DRY BULK MARKET SHOWING SIGNS OF STRONGER RECOVERY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market jumped by 3.37% yesterday, with the industry’s benchmark, the Baltic Dry Index (BDI), moving up to 1,472 points, levels no ...
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- Dr Ramakrishna Prasad Power Pvt Ltd - India
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- Global Green Power PLC Corporation, Philippines
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- Interocean Group of Companies - India
- Holcim Trading Pte Ltd - Singapore
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- Truba Alam Manunggal Engineering.Tbk - Indonesia
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- Energy Development Corp, Philippines
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- IEA Clean Coal Centre - UK
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- Ministry of Transport, Egypt
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- Independent Power Producers Association of India
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- Tata Chemicals Ltd - India
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- Ambuja Cements Ltd - India
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- Parry Sugars Refinery, India
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- Essar Steel Hazira Ltd - India
- Bulk Trading Sa - Switzerland
- Price Waterhouse Coopers - Russia
- Jindal Steel & Power Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Oldendorff Carriers - Singapore
- Georgia Ports Authority, United States
- Baramulti Group, Indonesia
- Parliament of New Zealand
- London Commodity Brokers - England
- Jaiprakash Power Ventures ltd
- Simpson Spence & Young - Indonesia
- Tamil Nadu electricity Board
- AsiaOL BioFuels Corp., Philippines
- Bharathi Cement Corporation - India
- GMR Energy Limited - India
- Singapore Mercantile Exchange
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- Kobexindo Tractors - Indoneisa
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- Alfred C Toepfer International GmbH - Germany
- Power Finance Corporation Ltd., India
- Australian Commodity Traders Exchange
- MS Steel International - UAE
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- Petrochimia International Co. Ltd.- Taiwan
- Deloitte Consulting - India
- Riau Bara Harum - Indonesia
- Kartika Selabumi Mining - Indonesia
- Mintek Dendrill Indonesia
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- Siam City Cement PLC, Thailand
- Sindya Power Generating Company Private Ltd
- Savvy Resources Ltd - HongKong
- Manunggal Multi Energi - Indonesia
- Makarim & Taira - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- CIMB Investment Bank - Malaysia
- Chamber of Mines of South Africa
- Cement Manufacturers Association - India
- Ministry of Mines - Canada
- Kapuas Tunggal Persada - Indonesia
- GVK Power & Infra Limited - India
- Edison Trading Spa - Italy
- Eastern Energy - Thailand
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- Salva Resources Pvt Ltd - India
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- Semirara Mining Corp, Philippines
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- Bukit Makmur.PT - Indonesia
- Aboitiz Power Corporation - Philippines
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- Economic Council, Georgia
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- Indonesian Coal Mining Association
- Standard Chartered Bank - UAE
- Kepco SPC Power Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- Jorong Barutama Greston.PT - Indonesia
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- SMG Consultants - Indonesia
- Therma Luzon, Inc, Philippines
- Indo Tambangraya Megah - Indonesia
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- Offshore Bulk Terminal Pte Ltd, Singapore
- Bhushan Steel Limited - India
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- Ministry of Finance - Indonesia
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- Bukit Asam (Persero) Tbk - Indonesia
- Straits Asia Resources Limited - Singapore
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- Ceylon Electricity Board - Sri Lanka
- San Jose City I Power Corp, Philippines
- ICICI Bank Limited - India
- Merrill Lynch Commodities Europe
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- Romanian Commodities Exchange
- Indogreen Group - Indonesia
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- Marubeni Corporation - India
- Kumho Petrochemical, South Korea
- Sarangani Energy Corporation, Philippines
- Coastal Gujarat Power Limited - India
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- Bank of Tokyo Mitsubishi UFJ Ltd
- Miang Besar Coal Terminal - Indonesia
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- PetroVietnam Power Coal Import and Supply Company
- Metalloyd Limited - United Kingdom
- SN Aboitiz Power Inc, Philippines
- Karaikal Port Pvt Ltd - India
- Coalindo Energy - Indonesia
- Intertek Mineral Services - Indonesia
- McConnell Dowell - Australia
- Samtan Co., Ltd - South Korea
- Xindia Steels Limited - India
- Carbofer General Trading SA - India
- Kohat Cement Company Ltd. - Pakistan
- Anglo American - United Kingdom
- Asmin Koalindo Tuhup - Indonesia
- South Luzon Thermal Energy Corporation
- Thai Mozambique Logistica
- Neyveli Lignite Corporation Ltd, - India
- Directorate Of Revenue Intelligence - India
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- Banpu Public Company Limited - Thailand
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- The Treasury - Australian Government
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bangladesh Power Developement Board
- Vedanta Resources Plc - India
- Australian Coal Association
- Binh Thuan Hamico - Vietnam
- Wood Mackenzie - Singapore
- Star Paper Mills Limited - India
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