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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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Thursday, 30 December 10
DRY BULK MARKET STAYS SUBDUED AT THE END OF 2010 - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dy bulk market failed to cheer ship owners across the board as the year draws to an end, thus bringing mixed feelings ahead of 2011. On one hand ...
Thursday, 30 December 10
KANGAROO RESOURCES BUYS INDONESIAN COAL COMPANY
Australian-listed Kangaroo Resources Ltd. said Wednesday it will buy 99% of the Pakar thermal coal project in East Kalimantan, for A$277 million thr ...
Wednesday, 29 December 10
WEATHER IMPACTS RIO TINTO COAL AUSTRALIAS QUEENSLAND OPERATIONS
Press Release - As a result of severe monsoonal rain in central and northern Queensland, force majeure has been declared on coal sales contracts fro ...
Monday, 27 December 10
ANALYSIS: CHINA'S COAL PRODUCTION MISMATCHED WITH DOMESTIC DEMAND
As reported by iStock Analyst, China's coal market has been trapped in a strange cycle. Large coal production bases are facing overcapacity, while ...
Monday, 27 December 10
HUNT FOR OVERSEAS COAL ASSETS TO INTENSIFY - FINANCIAL EXPRESS
Financial Express reported that, With the Indian economy back on the track after the slowdown, merger and acquisition (M&A) activities in the re ...
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- Wood Mackenzie - Singapore
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- Global Coal Blending Company Limited - Australia
- Tamil Nadu electricity Board
- GMR Energy Limited - India
- Karaikal Port Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
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- Asmin Koalindo Tuhup - Indonesia
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- Kepco SPC Power Corporation, Philippines
- Anglo American - United Kingdom
- Kalimantan Lumbung Energi - Indonesia
- Sojitz Corporation - Japan
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- Pipit Mutiara Jaya. PT, Indonesia
- Gujarat Sidhee Cement - India
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- New Zealand Coal & Carbon
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- Eastern Coal Council - USA
- Kaltim Prima Coal - Indonesia
- Energy Development Corp, Philippines
- Billiton Holdings Pty Ltd - Australia
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- Port Waratah Coal Services - Australia
- IHS Mccloskey Coal Group - USA
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- Indonesian Coal Mining Association
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- Thai Mozambique Logistica
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- Eastern Energy - Thailand
- Sinarmas Energy and Mining - Indonesia
- Sakthi Sugars Limited - India
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- Mintek Dendrill Indonesia
- Therma Luzon, Inc, Philippines
- Petrochimia International Co. Ltd.- Taiwan
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- Minerals Council of Australia
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- Offshore Bulk Terminal Pte Ltd, Singapore
- Interocean Group of Companies - India
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- Energy Link Ltd, New Zealand
- Heidelberg Cement - Germany
- Planning Commission, India
- Price Waterhouse Coopers - Russia
- Ceylon Electricity Board - Sri Lanka
- Intertek Mineral Services - Indonesia
- Ministry of Mines - Canada
- Indika Energy - Indonesia
- Directorate Of Revenue Intelligence - India
- Trasteel International SA, Italy
- Bhatia International Limited - India
- Global Business Power Corporation, Philippines
- Economic Council, Georgia
- Kumho Petrochemical, South Korea
- Tata Chemicals Ltd - India
- India Bulls Power Limited - India
- Sindya Power Generating Company Private Ltd
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- Ambuja Cements Ltd - India
- Jaiprakash Power Ventures ltd
- Georgia Ports Authority, United States
- Indian Energy Exchange, India
- Medco Energi Mining Internasional
- Formosa Plastics Group - Taiwan
- McConnell Dowell - Australia
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- Indo Tambangraya Megah - Indonesia
- LBH Netherlands Bv - Netherlands
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- Bukit Baiduri Energy - Indonesia
- Borneo Indobara - Indonesia
- Samtan Co., Ltd - South Korea
- PTC India Limited - India
- MS Steel International - UAE
- GAC Shipping (India) Pvt Ltd
- Essar Steel Hazira Ltd - India
- Bukit Makmur.PT - Indonesia
- Commonwealth Bank - Australia
- Posco Energy - South Korea
- Romanian Commodities Exchange
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- Kideco Jaya Agung - Indonesia
- Electricity Authority, New Zealand
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- The University of Queensland
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- Maharashtra Electricity Regulatory Commission - India
- Singapore Mercantile Exchange
- Renaissance Capital - South Africa
- Coal and Oil Company - UAE
- CNBM International Corporation - China
- PNOC Exploration Corporation - Philippines
- Chettinad Cement Corporation Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- ICICI Bank Limited - India
- Banpu Public Company Limited - Thailand
- Chamber of Mines of South Africa
- TNB Fuel Sdn Bhd - Malaysia
- Cigading International Bulk Terminal - Indonesia
- Antam Resourcindo - Indonesia
- Parliament of New Zealand
- Australian Commodity Traders Exchange
- Bharathi Cement Corporation - India
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- AsiaOL BioFuels Corp., Philippines
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- Alfred C Toepfer International GmbH - Germany
- Deloitte Consulting - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- CIMB Investment Bank - Malaysia
- South Luzon Thermal Energy Corporation
- SMC Global Power, Philippines
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