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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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Tuesday, 08 December 09
HIGH GLOBAL COAL PRICES HIT POWER PROJECTS
Spot prices for the fuel have appreciated almost 10% in November.
After a sedate year, rising coal prices could hit the coffers of import-based d ...
Monday, 07 December 09
HOW INDIA CAN CUT ITS ENERGY NEEDS BY 20%!
Using energy more efficiently can reduce our energy needs by one fifth; it is a strategy we must pursue even as we promote renewables, says Kirit Pa ...
Monday, 07 December 09
ASIA COAL POWER IN INDONESIA DISCUSSES NEW MINING LAW, COAL AND POWER SECTORS AS INVESTMENTS POUR INTO COALMINES TO SECURE SUPPLIES
COALspot.com (Singaproe): Press Release - Asia Coal Power pinpoints growing power demand in Asia & Power sector investments in Indonesia's coal ...
Monday, 07 December 09
DRY BULK RATES' VOLATILITY TO STAY, BUT RECOVERY IS UNDERWAY SAYS ION VAROUXAKIS HEAD OF FREESEAS
In an interview with Hellenic Shipping News, Mr. Ion G. Varouxakis, Chairman of the Board, President and CEO of Nasdaq-listed Freeseas, explains why ...
Monday, 07 December 09
VEDANTA RESOURCES ISSUES TENDER TO IMPORT 2.25 MILLION COAL
COALspot.com (India): Vedanta Resources plc is a London stock exchange listed FTSE 100 diversified metals and mining major with revenues in excess o ...
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- Mercuria Energy - Indonesia
- Ministry of Mines - Canada
- Bhoruka Overseas - Indonesia
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- Petron Corporation, Philippines
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- Planning Commission, India
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- Indian Energy Exchange, India
- Oldendorff Carriers - Singapore
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- Global Coal Blending Company Limited - Australia
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- Alfred C Toepfer International GmbH - Germany
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Mintek Dendrill Indonesia
- Sojitz Corporation - Japan
- Semirara Mining and Power Corporation, Philippines
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- Coal and Oil Company - UAE
- Jorong Barutama Greston.PT - Indonesia
- Siam City Cement PLC, Thailand
- Gujarat Sidhee Cement - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indonesian Coal Mining Association
- Edison Trading Spa - Italy
- Madhucon Powers Ltd - India
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- Minerals Council of Australia
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- Agrawal Coal Company - India
- Orica Australia Pty. Ltd.
- Goldman Sachs - Singapore
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- Indian Oil Corporation Limited
- The State Trading Corporation of India Ltd
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- Deloitte Consulting - India
- Pendopo Energi Batubara - Indonesia
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- The University of Queensland
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- Eastern Energy - Thailand
- IHS Mccloskey Coal Group - USA
- Attock Cement Pakistan Limited
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- ICICI Bank Limited - India
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- GVK Power & Infra Limited - India
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- Bangladesh Power Developement Board
- Medco Energi Mining Internasional
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- McConnell Dowell - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
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