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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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Wednesday, 07 December 22
MARKET INSIGHT - INTERMODAL
China’s coal imports from January to October were 230.1m mt, a decrease of around 10.7% y-o-y (2021 totalled 323.2m mt). The question is if t ...
Wednesday, 07 December 22
INDIA'S STEEL MINISTRY SEEKS IMPORT TAX WAIVER FOR COKING COAL - SOURCES REUTERS REPORTED
India’s steel ministry has asked the finance ministry for a waiver of import tax on coking coal among a slew of raw materials, as it scramble ...
Tuesday, 06 December 22
INDIA'S COAL PRODUCTION RISES 17% IN APR-NOV PERIOD - PTI
The country’s coal production increased 17 per cent to 524.20 million tonnes in the April-November period of the ongoing fiscal.
...
Tuesday, 06 December 22
INDONESIA AIMS TO STARTS COLLECTING COAL LEVY IN Q1 2023 - MINISTER, REUTERS REPORTED
Indonesia aims to establish a coal fund agency and start collecting a coal levy in the first quarter next year, to help ensure supply security for ...
Saturday, 03 December 22
COMPLEX RUSSIAN PRICE CAP MAKES MARITIME VISIBILITY A MUST - WINDWARD
Many commentators and analysts are speculating about the potential impact the Russian seaborne oil price cap will have on organizations and entitie ...
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- Directorate General of MIneral and Coal - Indonesia
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- Africa Commodities Group - South Africa
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- Bahari Cakrawala Sebuku - Indonesia
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- Maharashtra Electricity Regulatory Commission - India
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- India Bulls Power Limited - India
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- IEA Clean Coal Centre - UK
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- International Coal Ventures Pvt Ltd - India
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- GMR Energy Limited - India
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- Australian Commodity Traders Exchange
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- SMC Global Power, Philippines
- Georgia Ports Authority, United States
- Neyveli Lignite Corporation Ltd, - India
- Global Coal Blending Company Limited - Australia
- Parry Sugars Refinery, India
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- White Energy Company Limited
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- Straits Asia Resources Limited - Singapore
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- Electricity Authority, New Zealand
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- Bukit Baiduri Energy - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Medco Energi Mining Internasional
- Holcim Trading Pte Ltd - Singapore
- Sojitz Corporation - Japan
- Billiton Holdings Pty Ltd - Australia
- Vedanta Resources Plc - India
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- Indonesian Coal Mining Association
- Global Business Power Corporation, Philippines
- Orica Australia Pty. Ltd.
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- Renaissance Capital - South Africa
- New Zealand Coal & Carbon
- Vizag Seaport Private Limited - India
- Singapore Mercantile Exchange
- Alfred C Toepfer International GmbH - Germany
- Tamil Nadu electricity Board
- Barasentosa Lestari - Indonesia
- Manunggal Multi Energi - Indonesia
- Marubeni Corporation - India
- Port Waratah Coal Services - Australia
- PNOC Exploration Corporation - Philippines
- Binh Thuan Hamico - Vietnam
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- Cement Manufacturers Association - India
- Bharathi Cement Corporation - India
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- Samtan Co., Ltd - South Korea
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- Bhushan Steel Limited - India
- ICICI Bank Limited - India
- IHS Mccloskey Coal Group - USA
- Independent Power Producers Association of India
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- Jorong Barutama Greston.PT - Indonesia
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- Gujarat Sidhee Cement - India
- Karbindo Abesyapradhi - Indoneisa
- Siam City Cement PLC, Thailand
- Semirara Mining Corp, Philippines
- Aditya Birla Group - India
- Rashtriya Ispat Nigam Limited - India
- MS Steel International - UAE
- Ministry of Finance - Indonesia
- Grasim Industreis Ltd - India
- Anglo American - United Kingdom
- Agrawal Coal Company - India
- Cigading International Bulk Terminal - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Ceylon Electricity Board - Sri Lanka
- Standard Chartered Bank - UAE
- Commonwealth Bank - Australia
- Wood Mackenzie - Singapore
- Attock Cement Pakistan Limited
- Indian Oil Corporation Limited
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- Miang Besar Coal Terminal - Indonesia
- The University of Queensland
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- Energy Link Ltd, New Zealand
- Bhatia International Limited - India
- Economic Council, Georgia
- Sinarmas Energy and Mining - Indonesia
- Eastern Coal Council - USA
- Videocon Industries ltd - India
- Sindya Power Generating Company Private Ltd
- Minerals Council of Australia
- Merrill Lynch Commodities Europe
- London Commodity Brokers - England
- Indo Tambangraya Megah - Indonesia
- Heidelberg Cement - Germany
- SMG Consultants - Indonesia
- Bhoruka Overseas - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Goldman Sachs - Singapore
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- Mintek Dendrill Indonesia
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- Riau Bara Harum - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Posco Energy - South Korea
- Larsen & Toubro Limited - India
- Ministry of Transport, Egypt
- Meenaskhi Energy Private Limited - India
- Planning Commission, India
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- TeaM Sual Corporation - Philippines
- Maheswari Brothers Coal Limited - India
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- Parliament of New Zealand
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- Sical Logistics Limited - India
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- Price Waterhouse Coopers - Russia
- Global Green Power PLC Corporation, Philippines
- Central Java Power - Indonesia
- Power Finance Corporation Ltd., India
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- CIMB Investment Bank - Malaysia
- CNBM International Corporation - China
- Chamber of Mines of South Africa
- Ministry of Mines - Canada
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- Interocean Group of Companies - India
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