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Wednesday, 31 March 10
ITMG TO UP COAL OUTPUT DESPITE PERMIT PROBLEMS - THE JAKARTA POST
 The Jakarta Post reported that, the country’s third largest coal producer PT Indo Tambang Raya Megah (ITMG) said it can raise output although facing land permit problems on a site controlled by its subsidiary, PT Jorong Barutama Greston.
ITMG president director Somyot Ruchirawat told reporters after a shareholders meeting in Jakarta that the land permit problem in South Kalimantan would slightly affect the subsidiary’s coal output.
“Jorong will contribute 2 million tons of coal this year, down from 3.1 million tons a year earlier,” he said.
Jorong is said to have received a permit from the forestry ministry for operating its site but has yet to adhere to a government regulation on spatial planning.
Regardless of this, Somyot said ITMG would be able to produce 23 million tons of coal this year, up from 21 million tons last year, thanks to increased output from other subsidiaries: PT Indominco Mandiri, PT Trubaindo Coal Mining, PT Kitadin Embalut and PT Bharinto Ekatama.
To fulfill production targets, according to Ruchiwarat, ITMG will optimize its production from existing coal mines including a site controlled by Bharinto, which will reach the production stage in April.
Trubaindo is expected to contribute 6 million tons of coal this year, while Indominco will contribute 13.2 million tons, and Embalut will contribute 1.2 million tons.
“However, we expect our new mines in Bharinto will produce 200,000 tons this year,” Ruchiwarat said, adding the new site would be fully operational in 2011 and produce around 2 million tons of coal.
ITMG acknowledged that another new coal mine, Tandung Mayang in Kutai, East Kalimantan, will produce about 1 million tons in 2011.
Indo Tambangraya currently has about 294 million tons in its coal reserves in Kalimantan. The company sells its coal mostly to Japan, China, Taiwan and India.
Ruchiwarat refused to disclose the company’s revenue target this year, saying it depended on coal prices in the international market. The company predicts the coal price might be around US$60-$75 per ton in the international market, lower than last year’s average $71.5 per ton.
This year, the company aims to complete two projects in Bontang, Kalimantan; a coal terminal expansion costing $41 million in investment and a coal power plant requiring $6 million. “The coal terminal will be finished in the first quarter while the power plant is targeted to be running by mid-year,” said director Edward Manurung.
ITMG will allocate $101 million of capital expenditure (capex) this year, which mostly will be used for infrastructure and a coal washing plant for Trubaindo. The capex will be internally financed, as the firm has $429 million in cash reserves.
Based on the company’s financial performance, in 2009, Indo Tambangraya booked $336 million in net income, a 43 percent increase from $235 million a year earlier, while its gross revenue rose by 15 percent from $1.3 trillion in 2008.
Edward said that the main contributing factor to higher net profit was increased coal sales volume, which increased by 18 percent to 21 million tons from 17.7 million tons in 2008.
On Monday, ITMG, through its shareholders meeting, agreed to a dividend of Rp 1,964 per share.
Source: The Jakarta Post (By: Nani Afrida)
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Thursday, 13 May 10
CHINA CONCERNS TO TEST RAW MINERALS - THE AUSTRALIAN
The Australian reported that, COMMODITY prices will remain volatile and drop from recent highs as China's appetite for raw materials softens. James ...
Thursday, 13 May 10
ACTIVITY ON WEST COAST INDIA IS SLOWING - FEARNLEYS AS
DRY BULK CHARTERING
Handy
Atlantic markets remain firm but more for end May/beg June dates as there seems to be more enquiries for those dates. ...
Thursday, 13 May 10
DRY BULK SHIP OWNERS CHEERFUL AMID MARKET RALLY
China’s appetite for raw materials like iron ore and coal, as well as a series of added factors are boosting demand for dry bulk carriers, hel ...
Wednesday, 12 May 10
BANPU'S Q1 PROFIT SLIDES 43% TO B2.71BN - BANGKOK POST
The Bangkokpost reported that, Banpu Plc posted a first-quarter net profit of 2.71 billion baht, down by 43% from the same period last year.
The ...
Tuesday, 11 May 10
DALRYMPLE BAY COAL EXPORTS HIGHEST SINCE JULY; NEWCASTLE FALLS - BLOOMBERG
Bloomberg reported that, Coal shipments from Australia’s Dalrymple Bay terminal in Queensland state rose to the highest in nine months in Apri ...
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- Ambuja Cements Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Minerals Council of Australia
- Petrochimia International Co. Ltd.- Taiwan
- White Energy Company Limited
- Chamber of Mines of South Africa
- Orica Australia Pty. Ltd.
- India Bulls Power Limited - India
- Semirara Mining Corp, Philippines
- Simpson Spence & Young - Indonesia
- PTC India Limited - India
- European Bulk Services B.V. - Netherlands
- Indonesian Coal Mining Association
- Thiess Contractors Indonesia
- GMR Energy Limited - India
- Bangladesh Power Developement Board
- Kapuas Tunggal Persada - Indonesia
- Bayan Resources Tbk. - Indonesia
- London Commodity Brokers - England
- Aboitiz Power Corporation - Philippines
- Meralco Power Generation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Kepco SPC Power Corporation, Philippines
- Agrawal Coal Company - India
- Economic Council, Georgia
- Mercator Lines Limited - India
- Vizag Seaport Private Limited - India
- Port Waratah Coal Services - Australia
- Indo Tambangraya Megah - Indonesia
- Mjunction Services Limited - India
- Ministry of Mines - Canada
- PetroVietnam Power Coal Import and Supply Company
- Africa Commodities Group - South Africa
- Miang Besar Coal Terminal - Indonesia
- Essar Steel Hazira Ltd - India
- Sojitz Corporation - Japan
- Toyota Tsusho Corporation, Japan
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- Borneo Indobara - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Directorate General of MIneral and Coal - Indonesia
- Bhushan Steel Limited - India
- Mintek Dendrill Indonesia
- Georgia Ports Authority, United States
- CIMB Investment Bank - Malaysia
- VISA Power Limited - India
- Uttam Galva Steels Limited - India
- Trasteel International SA, Italy
- Jaiprakash Power Ventures ltd
- Iligan Light & Power Inc, Philippines
- Gujarat Sidhee Cement - India
- Global Green Power PLC Corporation, Philippines
- GVK Power & Infra Limited - India
- PowerSource Philippines DevCo
- Indian Oil Corporation Limited
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- Kalimantan Lumbung Energi - Indonesia
- Parry Sugars Refinery, India
- Heidelberg Cement - Germany
- Petron Corporation, Philippines
- Metalloyd Limited - United Kingdom
- Jorong Barutama Greston.PT - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Ministry of Finance - Indonesia
- Tata Chemicals Ltd - India
- Therma Luzon, Inc, Philippines
- Carbofer General Trading SA - India
- Coastal Gujarat Power Limited - India
- Malabar Cements Ltd - India
- Sakthi Sugars Limited - India
- Timah Investasi Mineral - Indoneisa
- Savvy Resources Ltd - HongKong
- Sree Jayajothi Cements Limited - India
- Energy Link Ltd, New Zealand
- Deloitte Consulting - India
- MS Steel International - UAE
- Siam City Cement - Thailand
- Australian Commodity Traders Exchange
- IEA Clean Coal Centre - UK
- Central Electricity Authority - India
- SN Aboitiz Power Inc, Philippines
- Holcim Trading Pte Ltd - Singapore
- Parliament of New Zealand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Mercuria Energy - Indonesia
- Standard Chartered Bank - UAE
- Coalindo Energy - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Bulk Trading Sa - Switzerland
- Directorate Of Revenue Intelligence - India
- TNB Fuel Sdn Bhd - Malaysia
- Formosa Plastics Group - Taiwan
- Wood Mackenzie - Singapore
- Banpu Public Company Limited - Thailand
- McConnell Dowell - Australia
- SMG Consultants - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bhatia International Limited - India
- Price Waterhouse Coopers - Russia
- New Zealand Coal & Carbon
- Riau Bara Harum - Indonesia
- Lanco Infratech Ltd - India
- Marubeni Corporation - India
- Baramulti Group, Indonesia
- Kideco Jaya Agung - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Asmin Koalindo Tuhup - Indonesia
- The Treasury - Australian Government
- Sinarmas Energy and Mining - Indonesia
- Eastern Coal Council - USA
- Independent Power Producers Association of India
- Madhucon Powers Ltd - India
- Renaissance Capital - South Africa
- Global Business Power Corporation, Philippines
- Aditya Birla Group - India
- Maharashtra Electricity Regulatory Commission - India
- The University of Queensland
- Chettinad Cement Corporation Ltd - India
- Kaltim Prima Coal - Indonesia
- Karaikal Port Pvt Ltd - India
- Posco Energy - South Korea
- Star Paper Mills Limited - India
- Siam City Cement PLC, Thailand
- Kartika Selabumi Mining - Indonesia
- Planning Commission, India
- Dalmia Cement Bharat India
- CNBM International Corporation - China
- Straits Asia Resources Limited - Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- IHS Mccloskey Coal Group - USA
- Samtan Co., Ltd - South Korea
- Sarangani Energy Corporation, Philippines
- South Luzon Thermal Energy Corporation
- Krishnapatnam Port Company Ltd. - India
- Salva Resources Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- Videocon Industries ltd - India
- Alfred C Toepfer International GmbH - Germany
- Orica Mining Services - Indonesia
- Vedanta Resources Plc - India
- Karbindo Abesyapradhi - Indoneisa
- Makarim & Taira - Indonesia
- Merrill Lynch Commodities Europe
- Antam Resourcindo - Indonesia
- Eastern Energy - Thailand
- Globalindo Alam Lestari - Indonesia
- Barasentosa Lestari - Indonesia
- ICICI Bank Limited - India
- PNOC Exploration Corporation - Philippines
- Goldman Sachs - Singapore
- Electricity Authority, New Zealand
- Bukit Makmur.PT - Indonesia
- Xindia Steels Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Medco Energi Mining Internasional
- Indian Energy Exchange, India
- Neyveli Lignite Corporation Ltd, - India
- San Jose City I Power Corp, Philippines
- Romanian Commodities Exchange
- Electricity Generating Authority of Thailand
- Meenaskhi Energy Private Limited - India
- Latin American Coal - Colombia
- Singapore Mercantile Exchange
- Manunggal Multi Energi - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Sindya Power Generating Company Private Ltd
- LBH Netherlands Bv - Netherlands
- Pipit Mutiara Jaya. PT, Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Attock Cement Pakistan Limited
- Edison Trading Spa - Italy
- Interocean Group of Companies - India
- Bharathi Cement Corporation - India
- Vijayanagar Sugar Pvt Ltd - India
- Oldendorff Carriers - Singapore
- Coal and Oil Company - UAE
- Intertek Mineral Services - Indonesia
- Rio Tinto Coal - Australia
- Gujarat Mineral Development Corp Ltd - India
- Larsen & Toubro Limited - India
- Power Finance Corporation Ltd., India
- Commonwealth Bank - Australia
- International Coal Ventures Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- Indika Energy - Indonesia
- OPG Power Generation Pvt Ltd - India
- Kumho Petrochemical, South Korea
- SMC Global Power, Philippines
- Indogreen Group - Indonesia
- Anglo American - United Kingdom
- Central Java Power - Indonesia
- TeaM Sual Corporation - Philippines
- Bhoruka Overseas - Indonesia
- Semirara Mining and Power Corporation, Philippines
- ASAPP Information Group - India
- Binh Thuan Hamico - Vietnam
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Kobexindo Tractors - Indoneisa
- Tamil Nadu electricity Board
- Ministry of Transport, Egypt
- Thai Mozambique Logistica
- The State Trading Corporation of India Ltd
- Ind-Barath Power Infra Limited - India
- Cigading International Bulk Terminal - Indonesia
- Pendopo Energi Batubara - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Gujarat Electricity Regulatory Commission - India
- Australian Coal Association
- Cement Manufacturers Association - India
- Grasim Industreis Ltd - India
- Maheswari Brothers Coal Limited - India
- Energy Development Corp, Philippines
- GAC Shipping (India) Pvt Ltd
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