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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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Friday, 04 December 09
CHINA'S COAL IMPORTS PREDICTED TO DECLINE IN 2010
China's eye-catching coal import figure s are unlikely to extend into 2010 given the predicted narrow-down of the coal price spread between the hom ...
Friday, 04 December 09
SUBHASH PROJECTS BEGINS MINING AT INDONESIAN COAL BLOCK
Kolkata-based infrastructure company Subhash Projects and Marketing (SPML) has begun mining at its coal block in Indonesia and will begin despatchin ...
Friday, 04 December 09
DRY BULK MARKET IS ON THE RISE AGAIN
Proving rather resilient, compared to previous behaviors, the dry bulk market has been on a rebound mode once again, after a two-week fall, which su ...
Friday, 04 December 09
INDONESIA'S BUMI EYES MARKETING DEAL FOR BERAU COAL
Reuters reported that, Indonesian coal miner PT Bumi Resources Tbk said on Thursday it is in talks to be the exclusive marketing agent for coal prod ...
Friday, 04 December 09
KALIMANTAN GOLD AGREES TO SELL IBP COAL CONCESSION
COALspot.com ( Press Release): Kalimantan Gold Corporation Limited ("KLG" or the "Company"), which undertook drilling and had an ...
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- Trasteel International SA, Italy
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- London Commodity Brokers - England
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- Energy Link Ltd, New Zealand
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- Singapore Mercantile Exchange
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- Bukit Asam (Persero) Tbk - Indonesia
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- Barasentosa Lestari - Indonesia
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- Electricity Authority, New Zealand
- Ministry of Finance - Indonesia
- Commonwealth Bank - Australia
- Cement Manufacturers Association - India
- Edison Trading Spa - Italy
- European Bulk Services B.V. - Netherlands
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- Sindya Power Generating Company Private Ltd
- Malabar Cements Ltd - India
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- Price Waterhouse Coopers - Russia
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- Chamber of Mines of South Africa
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- Binh Thuan Hamico - Vietnam
- Standard Chartered Bank - UAE
- Parliament of New Zealand
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- Deloitte Consulting - India
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- Eastern Energy - Thailand
- Grasim Industreis Ltd - India
- Goldman Sachs - Singapore
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- Timah Investasi Mineral - Indoneisa
- Orica Australia Pty. Ltd.
- Sojitz Corporation - Japan
- Xindia Steels Limited - India
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- Meralco Power Generation, Philippines
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- Economic Council, Georgia
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- Mercuria Energy - Indonesia
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- CNBM International Corporation - China
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- Simpson Spence & Young - Indonesia
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- Carbofer General Trading SA - India
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- Iligan Light & Power Inc, Philippines
- GAC Shipping (India) Pvt Ltd
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