Churchill Mining logo

CHL - Churchill Mining News Story

37.75p 0.0  0.0%

Last Trade - 05/12/16

Micro Cap
Market Cap £n/a
Enterprise Value £n/a
Revenue £n/a
Position in Universe th / 1828

Churchill Mining plc Appointment of Credit Suisse as Strategic Advisor

Mon 19th April, 2010 7:00am

RNS Number : 3758K
Churchill Mining plc
19 April 2010

19 April 2010

("Churchill" or the "Company")


Churchill Mining Plc (AIM: CHL) is pleased to announce the appointment of Credit
Suisse as a strategic advisor to Churchill with regard to the development of the
East Kutai Coal Project. The East Kutai Coal Project is a world-class thermal
coal deposit, with a JORC Mining Reserve of 956 million tonnes and a JORC Mining
Resource of 2.481 billion tonnes.

Churchill and its Indonesian partner, the Ridlatama Group, are currently
progressing with the development of the East Kutai Coal Project. The East Kutai
Coal Project is planned as a 20 million tonnes per annum operation, positioning
Churchill to become a major exporter of thermal coal to meet the growing demands
of the expanding Asian energy market.

Credit Suisse will work with Churchill to complete a strategic review process,
which will evaluate the various options for financing the development of the
East Kutai Coal Project, including the development of the project with a joint
venture partner or the conclusion of a long-term offtake arrangement. Having
completed over $13 billion of Indonesia-related coal transactions in the last
five years, Credit Suisse is considered the pre-eminent international investment
bank in the Indonesia coal space.

Churchill Mining CEO Paul Mazak commented:

"We are pleased to have retained Credit Suisse as a strategic advisor to
Churchill. As the market-leading investment bank to the coal sector in
Indonesia, working with leading companies such as PT Bumi Resources, IndoCoal,
Adaro Energy and others, Credit Suisse brings a vast amount of experience and
expertise to procure the financing for the development of the East Kutai Coal

Credit Suisse Investment Banking Head of Mining, South East Asia, Alberto
Migliucci commented:

"Credit Suisse is excited about working with Churchill to maximize the interest
that a substantial resource such as the East Kutai Coal Project deserves.
Strong energy demand growth throughout Asia, particularly India and China,
coupled with regional shortages in power generation capabilities, creates a
positive environment for large scale projects such as the East Kutai Coal
Project. Credit Suisse looks forward to working with Churchill to determine the
best approach for the development of the East Kutai Coal Project."


For further information, please contact:
| | | |
| Churchill Mining Plc | Astaire | Pelham Bell |
| Managing Director - Paul | Securities | Pottinger |
| G. Mazak | Shane Gallwey | James MacFarlane / |
| +62 81510539186 / | / | Charles Vivian |
| +62 21 39832398 | Toby Gibbs | +44 (0) 20 7337 1533 |
| +61 8 6382 3737 | +44(0)20 7448 | or |
| | 4400 | +44 (0) 7894462114 |
| | | |
| | | |
Credit Suisse
Josephine Lee
Corporate Communications
22/F International Commerce
1 Austin Road West, Kowloon, Hong Kong
Phone +852 3969
Fax +852 2284

This information is provided by RNS
The company news service from the London Stock Exchange


© Stockopedia 2021, Refinitiv, Share Data Services.
This site cannot substitute for professional investment advice or independent factual verification. To use it, you must accept our Terms of Use, Privacy and Disclaimer policies.