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Friday, 18 December 09
CHURCHILL MINING COMPLETES FEASIBILITY STUDY FOR EAST KUTAI COAL PROJECT
 Churchill Mining Plc has announced the completion of the feasibility study for its flagship project, the 75% held East Kutai coal project in Indonesia, confirming a preferred 20 million tonne per annum production rate. The company anticipates project construction work at EKCP to start in 2010 and take two years to complete.
Churchill Mining Plc's wholly owned subsidiary PT Indonesia Coal Development has been selected as a prospective thermal coal supplier to Indonesia's PT Cirebon Electric Power, which is building a 660 MW power plant in West Java which is due to start operations in 2011.
Churchill has put the project's infrastructure items out to tender and this process is well advanced. To date the bids received have been well below predicted costs due to the resurgence in global manufacturing and engineering capabilities following the global financial downturn.
It anticipates completion of its tender process and final evaluation of the bids by the end of January 2010. It will then be in a position to further inform investors of the expected capital cost and life-of-mine financial returns.
The feasibility study envisages that the EKCP coal will be transported from the mine, ultimately made up of three open pits, using a 160 kilometers overland conveyor system comprising eight flights at a speed of 5 metres per second, powered by a coal-fired plant using EKCP coal.
Churchill is now undertaking final bathymetric and wave, wind and tide studies for the future port facility. Tenders for the port piling and coal loader have been received.
Mr Paul Mazak CEO of Churchill Mining said that "We look forward to announcing the associated results of our economic modeling early next year. Churchill is still evaluating how best to generate value for shareholders. Our options include the sale of the project or company, the development of EKCP with a JV partner or the financing and implementation of the EKCP by Churchill itself. We continue to have discussions with a number of interested parties and the company hopes to be position next year to announce the results from these negotiations."
Source: Steel Guru
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Wednesday, 30 December 09
CHINA'S 2010 COAL DEMAND COULD RISE 4%-6%, ACCORDING TO CHINA SECURITIES JOURNAL
China, which is the world’s second-largest energy user, may consume between 4 and 6% more coal next year on continued economic growth, China S ...
Tuesday, 29 December 09
PROFIT IN COAL INDUSTRY DOWN 9.4% Y-O-Y IN JAN.- NOV.
In November, China's coal production was 289mln tons, up 26.3% year on year, an increase of 5.2% over last month. China's average daily trucks loa ...
Tuesday, 29 December 09
DHARMA HENWA EYES 20% REVENUE GROWTH
Local integrated mining services provider PT Dharma Henwa, which was earlier this year acquired by coal mining giant PT Bumi Resources, expects reve ...
Monday, 28 December 09
NEED TO IMPORT COAL COMES EARLY
Viet Nam may need to start importing coal as early as 2012, three years earlier than expected, to meet its electricity demands.
The Viet Nam Coal ...
Monday, 28 December 09
GOVT EYES $3.57B MINING, GEOTHERMAL INVESTMENT
The country can expect up to US$3.57 billion in investment in mining and geothermal energy next year, which would represent an increase by more than ...
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- Ministry of Transport, Egypt
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- Minerals Council of Australia
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- Kohat Cement Company Ltd. - Pakistan
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- Billiton Holdings Pty Ltd - Australia
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