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Sunday, 01 November 09
ADAVALE RESOURCES MAKES COAL ACQUISITIONS IN INDONESIA
 Adavale Resources Limited has entered into an agreement to acquire the rights to two thermal coal projects Tapan and Jambi in Sumatra Indonesia, held by United Energy and Resources.
Under the agreement, Adavale will fund an initial exploration program to seek to upgrade the existing 15 million tonne inferred coal resource at the Tapan project to a Measured Coal Resource of 5 million tonnes.
The expected costs of this initial program will be an upfront payment of USD 110,000 and subject to a review of due diligence up to a further USD 650,000.
On completion of proving up a 5 million tonnes resource and Adavale being satisfied with the development to that date, Adavale will provide up to a further USD 3.4 million to develop and gain all necessary approvals to take the project through to the mining stage.
Mr Richard Poole chairman of Adavale Resources said that “Whilst recognizing the substantial opportunities for successful mining development in Indonesia, Adavale is aware of the potential risks and have been working hard to reduce these as much as possible. We are developing the projects in stages.”
The works program to seek to prove up a Measured Coal Resource will commence during the first week of November. The program will focus on proving up a Measured Coal Resource and will include mine planning in order to ensure an efficient and economically viable mining operation for the Tapan Project can be developed. First production at Tapan is being targeted for the second quarter of 2010.
The company is expected to development Jambi after Tapan. Preliminary drilling and trenching has identified an inferred coal resource in excess of 20 million tonnes at Jambi.
Adavale has acquired ‘United’s’ rights to a MOU over four coal concessions within the Jambi Province. Adavale’s initial target is within an Exploration Licence of 10,000 hectare located close to the provincial capital of Jambi.
Source: Steel Guru
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Wednesday, 04 November 09
BAKRIE MAY WIN BERAU COAL BID FROM ARMADIAN
The Bakrie group is likely to be selected as buyer of PT Berau Coal, the country’s fifth-largest coal producer, two people familiar with the m ...
Wednesday, 04 November 09
BINANI HOPES TO BUY INDONESIAN COAL MINE IN 2-3 MONTHS
"We are still negotiating, but hope to conclude the deal in the next two to three months," Binani Cement Managing Director Vinod Juneja to ...
Tuesday, 03 November 09
CHINA TO BE NET COAL IMPORTER IN 2009
China is accelerating its importation of coal to cope with fallen output caused by the consolidation of small coalmines, and is likely to become a n ...
Monday, 02 November 09
RIO TINTO WARNS ON CHEAP MONGOLIAN COAL
The Age reported that, Mining giant Rio Tinto has warned that cheap coal from Mongolia as well as congestion at the Port of Newcastle in NSW could u ...
Monday, 02 November 09
ESSAR SEEKS COAL ASSETS IN SOUTH AFRICA
Paguntaka reported that, Essar Group plans to acquire coal assets in South Africa to help boost its power business in India. A senior executive of E ...
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- Singapore Mercantile Exchange
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- European Bulk Services B.V. - Netherlands
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- Toyota Tsusho Corporation, Japan
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- Antam Resourcindo - Indonesia
- Grasim Industreis Ltd - India
- Africa Commodities Group - South Africa
- Miang Besar Coal Terminal - Indonesia
- Indonesian Coal Mining Association
- Thai Mozambique Logistica
- Kalimantan Lumbung Energi - Indonesia
- Marubeni Corporation - India
- Chamber of Mines of South Africa
- Uttam Galva Steels Limited - India
- IHS Mccloskey Coal Group - USA
- Mercator Lines Limited - India
- Aboitiz Power Corporation - Philippines
- Coalindo Energy - Indonesia
- Bharathi Cement Corporation - India
- Indogreen Group - Indonesia
- CIMB Investment Bank - Malaysia
- Minerals Council of Australia
- Ministry of Mines - Canada
- Ind-Barath Power Infra Limited - India
- Salva Resources Pvt Ltd - India
- Tamil Nadu electricity Board
- Heidelberg Cement - Germany
- SMC Global Power, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Baramulti Group, Indonesia
- The State Trading Corporation of India Ltd
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- Electricity Authority, New Zealand
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- Bhatia International Limited - India
- Manunggal Multi Energi - Indonesia
- The University of Queensland
- Altura Mining Limited, Indonesia
- Kumho Petrochemical, South Korea
- Ministry of Finance - Indonesia
- Kobexindo Tractors - Indoneisa
- Australian Commodity Traders Exchange
- Savvy Resources Ltd - HongKong
- Binh Thuan Hamico - Vietnam
- Global Business Power Corporation, Philippines
- Bhushan Steel Limited - India
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- Directorate General of MIneral and Coal - Indonesia
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- Price Waterhouse Coopers - Russia
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- Leighton Contractors Pty Ltd - Australia
- Maharashtra Electricity Regulatory Commission - India
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- Therma Luzon, Inc, Philippines
- Parry Sugars Refinery, India
- Thiess Contractors Indonesia
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- Jindal Steel & Power Ltd - India
- Medco Energi Mining Internasional
- LBH Netherlands Bv - Netherlands
- ICICI Bank Limited - India
- White Energy Company Limited
- Sojitz Corporation - Japan
- Bulk Trading Sa - Switzerland
- SMG Consultants - Indonesia
- Videocon Industries ltd - India
- Port Waratah Coal Services - Australia
- Interocean Group of Companies - India
- Gujarat Electricity Regulatory Commission - India
- Orica Australia Pty. Ltd.
- Malabar Cements Ltd - India
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- Sakthi Sugars Limited - India
- Barasentosa Lestari - Indonesia
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- Planning Commission, India
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- Bangladesh Power Developement Board
- The Treasury - Australian Government
- Borneo Indobara - Indonesia
- Edison Trading Spa - Italy
- Bayan Resources Tbk. - Indonesia
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