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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$1.8 billion.
However, Churchill is keeping all of its options open and is still looking at possibly running East Kutai as a stand-alone project funded by equity and debt.
In September the company passed a major milestone when the eagerly awaited feasibility study confirmed East Kutai as a world class deposit with a JORC resource of 2.73 billion tonnes.
Source: Proactive Investors
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Friday, 04 February 11
PERTAMINA DENIES KAREN AGUSTIAWAN RESIGNS FROM PERTAMINA
COALspot.com - The President Director of PT Pertamina, Karen Agustiawan reportedly will replace Darwin Saleh as Minister of Energy and Mineral Resou ...
Friday, 04 February 11
ADARO ENERGY FY10 COAL SALES UP 6 PERCENT TO 43.84 MILLION
As reported by insider stories, Indonesian coal miners PT Adaro Energy Tbk has produced 42.20 million tons of coal in 2010, a 4 percent increase com ...
Thursday, 03 February 11
MERCATOR LINES TO INVEST RS 200-250 CRORE ON COAL MINE IN INDONESIA - ECONOMIC TIMES
Economic Times reported that, Mercator Lines, the HK Mittal-controlled shipping-to-mines major, will invest about 200-250 crore (US$ 43.825 - 54.781 ...
Thursday, 03 February 11
DRY BULK MARKET LOOKS SET TO BOTTOM OUT NIKOS - ROUSSANOGLOU, HELLENIC SHIPPING
With the dry bulk market having lost more than 72% of its value in the last month or so and having retreated to a 2-year low, it seems that the bott ...
Wednesday, 02 February 11
INDONESIA MAY MISS COAL EXPORT TARGET IN 2011
COALspot.com - Indonesian Trade ministry has instructed independent surveyors temporarily not to issue pre-shipment survey report (LS) to the compan ...
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- Minerals Council of Australia
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- India Bulls Power Limited - India
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- Lanco Infratech Ltd - India
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- VISA Power Limited - India
- The State Trading Corporation of India Ltd
- Bangladesh Power Developement Board
- Miang Besar Coal Terminal - Indonesia
- Bharathi Cement Corporation - India
- Aditya Birla Group - India
- Larsen & Toubro Limited - India
- Kobexindo Tractors - Indoneisa
- Romanian Commodities Exchange
- Vizag Seaport Private Limited - India
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- Riau Bara Harum - Indonesia
- Alfred C Toepfer International GmbH - Germany
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- Ind-Barath Power Infra Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Economic Council, Georgia
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- Heidelberg Cement - Germany
- Energy Link Ltd, New Zealand
- Africa Commodities Group - South Africa
- Intertek Mineral Services - Indonesia
- GMR Energy Limited - India
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- Dalmia Cement Bharat India
- Thiess Contractors Indonesia
- SMC Global Power, Philippines
- Essar Steel Hazira Ltd - India
- Meenaskhi Energy Private Limited - India
- ICICI Bank Limited - India
- Chettinad Cement Corporation Ltd - India
- Marubeni Corporation - India
- Central Java Power - Indonesia
- Iligan Light & Power Inc, Philippines
- Commonwealth Bank - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
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- Energy Development Corp, Philippines
- South Luzon Thermal Energy Corporation
- Neyveli Lignite Corporation Ltd, - India
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- Electricity Generating Authority of Thailand
- Sarangani Energy Corporation, Philippines
- Makarim & Taira - Indonesia
- Savvy Resources Ltd - HongKong
- Kaltim Prima Coal - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Bukit Makmur.PT - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Bhatia International Limited - India
- Australian Coal Association
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- Asia Pacific Energy Resources Ventures Inc, Philippines
- Pendopo Energi Batubara - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Chamber of Mines of South Africa
- Globalindo Alam Lestari - Indonesia
- TeaM Sual Corporation - Philippines
- McConnell Dowell - Australia
- LBH Netherlands Bv - Netherlands
- Standard Chartered Bank - UAE
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- PowerSource Philippines DevCo
- International Coal Ventures Pvt Ltd - India
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- Coalindo Energy - Indonesia
- Siam City Cement PLC, Thailand
- Madhucon Powers Ltd - India
- Simpson Spence & Young - Indonesia
- Formosa Plastics Group - Taiwan
- Mercuria Energy - Indonesia
- Manunggal Multi Energi - Indonesia
- Trasteel International SA, Italy
- The Treasury - Australian Government
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- San Jose City I Power Corp, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Carbofer General Trading SA - India
- Wood Mackenzie - Singapore
- Baramulti Group, Indonesia
- Rio Tinto Coal - Australia
- AsiaOL BioFuels Corp., Philippines
- GVK Power & Infra Limited - India
- Semirara Mining Corp, Philippines
- PTC India Limited - India
- Kartika Selabumi Mining - Indonesia
- Kepco SPC Power Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- Ministry of Transport, Egypt
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- PetroVietnam Power Coal Import and Supply Company
- Eastern Energy - Thailand
- Bukit Asam (Persero) Tbk - Indonesia
- Indika Energy - Indonesia
- Thai Mozambique Logistica
- Dr Ramakrishna Prasad Power Pvt Ltd - India
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- PNOC Exploration Corporation - Philippines
- Wilmar Investment Holdings
- Bayan Resources Tbk. - Indonesia
- Interocean Group of Companies - India
- CNBM International Corporation - China
- Eastern Coal Council - USA
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- Global Green Power PLC Corporation, Philippines
- Therma Luzon, Inc, Philippines
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- Jorong Barutama Greston.PT - Indonesia
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- Maheswari Brothers Coal Limited - India
- Toyota Tsusho Corporation, Japan
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- Samtan Co., Ltd - South Korea
- Sree Jayajothi Cements Limited - India
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- Malabar Cements Ltd - India
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- Banpu Public Company Limited - Thailand
- Renaissance Capital - South Africa
- Indian Oil Corporation Limited
- Orica Mining Services - Indonesia
- Parry Sugars Refinery, India
- Directorate Of Revenue Intelligence - India
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