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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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Wednesday, 21 April 10
INDONESIA SHIPPED 13.24 PERCENT MORE COAL IN MARCH THAN A MONTH EARLIER
COALspot.com: Indonesia, the world largest coal exporter, shipped 27,615,191 MT of coal in March 2010, compare to 24.38 million tons in January and ...
Tuesday, 20 April 10
INDO HARUM ENERGY WINS US$200MN LOAN PLEDGE FROM BANK SYNDICATE
Indonesian coal producer PT Harum Energy has secured a loan commitment of US$200 million from a syndicate of six banks.
Bank of Tokyo Mitsubishi ...
Tuesday, 20 April 10
PACIFIC SUPRA MARKET WAS STILL SOFTENING - BRS
A modest increase in dry bulk rates this week with activity picking up in the middle of the week. Panamax rates remain above the Capes, and there wa ...
Monday, 19 April 10
IS CHINA TO SUFFER NEW COAL SUPPLY SHORTAGE IN 2010? - XINHUA
Is China likely to suffer a new coal supply shortage in 2010? It's a question haunting many Chinese market analysts now. After a string of several ...
Monday, 19 April 10
WHITE ENERGY BUYS SA COAL - ABC NET
ABC Net reported that, South Australian Coal Limited is being bought by the New South Wales company White Energy.
Shareholders will get a combine ...
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- Globalindo Alam Lestari - Indonesia
- Grasim Industreis Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Bank of Tokyo Mitsubishi UFJ Ltd
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bulk Trading Sa - Switzerland
- Xindia Steels Limited - India
- Alfred C Toepfer International GmbH - Germany
- Krishnapatnam Port Company Ltd. - India
- Australian Commodity Traders Exchange
- Straits Asia Resources Limited - Singapore
- Borneo Indobara - Indonesia
- IEA Clean Coal Centre - UK
- Petrochimia International Co. Ltd.- Taiwan
- Asmin Koalindo Tuhup - Indonesia
- Siam City Cement PLC, Thailand
- Antam Resourcindo - Indonesia
- CNBM International Corporation - China
- Bangladesh Power Developement Board
- Marubeni Corporation - India
- PowerSource Philippines DevCo
- Indonesian Coal Mining Association
- Kideco Jaya Agung - Indonesia
- Global Green Power PLC Corporation, Philippines
- Siam City Cement - Thailand
- Price Waterhouse Coopers - Russia
- Kobexindo Tractors - Indoneisa
- Salva Resources Pvt Ltd - India
- OPG Power Generation Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- Central Java Power - Indonesia
- Ministry of Transport, Egypt
- Jindal Steel & Power Ltd - India
- Rio Tinto Coal - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Larsen & Toubro Limited - India
- Cigading International Bulk Terminal - Indonesia
- Tata Chemicals Ltd - India
- The State Trading Corporation of India Ltd
- Miang Besar Coal Terminal - Indonesia
- Ambuja Cements Ltd - India
- Mercuria Energy - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Rashtriya Ispat Nigam Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Binh Thuan Hamico - Vietnam
- Toyota Tsusho Corporation, Japan
- Pendopo Energi Batubara - Indonesia
- Coalindo Energy - Indonesia
- Sakthi Sugars Limited - India
- Barasentosa Lestari - Indonesia
- MS Steel International - UAE
- South Luzon Thermal Energy Corporation
- The Treasury - Australian Government
- Banpu Public Company Limited - Thailand
- Orica Australia Pty. Ltd.
- Holcim Trading Pte Ltd - Singapore
- Samtan Co., Ltd - South Korea
- Coastal Gujarat Power Limited - India
- Ministry of Mines - Canada
- Iligan Light & Power Inc, Philippines
- Uttam Galva Steels Limited - India
- Indika Energy - Indonesia
- Parry Sugars Refinery, India
- Directorate Of Revenue Intelligence - India
- Lanco Infratech Ltd - India
- Merrill Lynch Commodities Europe
- Wood Mackenzie - Singapore
- Billiton Holdings Pty Ltd - Australia
- Meralco Power Generation, Philippines
- CIMB Investment Bank - Malaysia
- Star Paper Mills Limited - India
- Vedanta Resources Plc - India
- Bukit Asam (Persero) Tbk - Indonesia
- Altura Mining Limited, Indonesia
- Power Finance Corporation Ltd., India
- Eastern Energy - Thailand
- Bayan Resources Tbk. - Indonesia
- New Zealand Coal & Carbon
- IHS Mccloskey Coal Group - USA
- Kohat Cement Company Ltd. - Pakistan
- Makarim & Taira - Indonesia
- Essar Steel Hazira Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Leighton Contractors Pty Ltd - Australia
- AsiaOL BioFuels Corp., Philippines
- Simpson Spence & Young - Indonesia
- Bharathi Cement Corporation - India
- Kaltim Prima Coal - Indonesia
- India Bulls Power Limited - India
- Tamil Nadu electricity Board
- Medco Energi Mining Internasional
- Indian Oil Corporation Limited
- Planning Commission, India
- Wilmar Investment Holdings
- Interocean Group of Companies - India
- Thiess Contractors Indonesia
- Manunggal Multi Energi - Indonesia
- Orica Mining Services - Indonesia
- Riau Bara Harum - Indonesia
- Edison Trading Spa - Italy
- Mercator Lines Limited - India
- Bukit Makmur.PT - Indonesia
- Karaikal Port Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- PNOC Exploration Corporation - Philippines
- SN Aboitiz Power Inc, Philippines
- Mintek Dendrill Indonesia
- Thai Mozambique Logistica
- Economic Council, Georgia
- Jaiprakash Power Ventures ltd
- Metalloyd Limited - United Kingdom
- Standard Chartered Bank - UAE
- Kapuas Tunggal Persada - Indonesia
- Indo Tambangraya Megah - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- GVK Power & Infra Limited - India
- Energy Development Corp, Philippines
- Mjunction Services Limited - India
- Anglo American - United Kingdom
- Aditya Birla Group - India
- Minerals Council of Australia
- Commonwealth Bank - Australia
- Indian Energy Exchange, India
- Chamber of Mines of South Africa
- Kumho Petrochemical, South Korea
- Independent Power Producers Association of India
- ICICI Bank Limited - India
- Posco Energy - South Korea
- Maharashtra Electricity Regulatory Commission - India
- TNB Fuel Sdn Bhd - Malaysia
- Heidelberg Cement - Germany
- Australian Coal Association
- Semirara Mining Corp, Philippines
- Bhoruka Overseas - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Agrawal Coal Company - India
- Sindya Power Generating Company Private Ltd
- Latin American Coal - Colombia
- Ministry of Finance - Indonesia
- Electricity Generating Authority of Thailand
- Carbofer General Trading SA - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Cement Manufacturers Association - India
- GMR Energy Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bahari Cakrawala Sebuku - Indonesia
- Africa Commodities Group - South Africa
- The University of Queensland
- GAC Shipping (India) Pvt Ltd
- Maheswari Brothers Coal Limited - India
- Ind-Barath Power Infra Limited - India
- Jorong Barutama Greston.PT - Indonesia
- International Coal Ventures Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- London Commodity Brokers - England
- Baramulti Group, Indonesia
- Kartika Selabumi Mining - Indonesia
- Renaissance Capital - South Africa
- Central Electricity Authority - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Therma Luzon, Inc, Philippines
- Global Coal Blending Company Limited - Australia
- Dalmia Cement Bharat India
- Coal and Oil Company - UAE
- PTC India Limited - India
- Madhucon Powers Ltd - India
- Sical Logistics Limited - India
- Eastern Coal Council - USA
- Deloitte Consulting - India
- Ceylon Electricity Board - Sri Lanka
- Videocon Industries ltd - India
- Gujarat Sidhee Cement - India
- LBH Netherlands Bv - Netherlands
- Kepco SPC Power Corporation, Philippines
- TeaM Sual Corporation - Philippines
- Bhatia International Limited - India
- Malabar Cements Ltd - India
- Formosa Plastics Group - Taiwan
- Indogreen Group - Indonesia
- Vizag Seaport Private Limited - India
- Oldendorff Carriers - Singapore
- Sojitz Corporation - Japan
- European Bulk Services B.V. - Netherlands
- Timah Investasi Mineral - Indoneisa
- Romanian Commodities Exchange
- Energy Link Ltd, New Zealand
- SMG Consultants - Indonesia
- Bukit Baiduri Energy - Indonesia
- ASAPP Information Group - India
- VISA Power Limited - India
- SMC Global Power, Philippines
- Goldman Sachs - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bhushan Steel Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Semirara Mining and Power Corporation, Philippines
- Attock Cement Pakistan Limited
- White Energy Company Limited
- Singapore Mercantile Exchange
- Petron Corporation, Philippines
- Georgia Ports Authority, United States
- McConnell Dowell - Australia
- Parliament of New Zealand
- Sree Jayajothi Cements Limited - India
- Global Business Power Corporation, Philippines
- Sarangani Energy Corporation, Philippines
- Intertek Mineral Services - Indonesia
- Electricity Authority, New Zealand
- Port Waratah Coal Services - Australia
- Trasteel International SA, Italy
- Aboitiz Power Corporation - Philippines
- San Jose City I Power Corp, Philippines
- Savvy Resources Ltd - HongKong
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