September 23, 2010 Churchill Mining PLC, and the Company's Indonesian partners the Ridlatama Group, announced the completion of the Feasibility Study on the $2.73 Bn t East Kutai Coal Project in Indonesia. Highlights include a pre-tax net present value of US$1.8 Bn, internal rate of return of 21% and payback period of 7 years of investment evaluation, modeled over an initial 25-year period.
July 1, 2010 Churchill Mining and Its Indonesian partners the Ridlatama Group, who jointly own the East Kutai coal project in Indonesia, 75% and 25% respectively,
announced their intention to increase the project coal production rate by up to 10 mtpa to 35 mtpa. Coal production from the Northern Pit would increase from 20 mtpa to 25-30 mtpa and production from the Southern Pit would remain at 5 mtpa.
December 15, 2009 Churchill Mining and its partners the Ridlatama Group announced the completion of the Feasibility Study for the East Kutai Coal Project (EKCP), Indonesia, in which Churchill has a 75% interest. The EKCP has a 2.481 billion tonne JORC resource of which 956 million tonnes has been classified as a JORC Probable reserve. The Study found that EKCP is best exploited at a preferred rate of 20 million tonnes per annum. The coal will be transported from the mine, ultimately made up of three open
pits, using a 160 kilometre overland conveyor system comprising eight flights at a speed of 5 metres per second.