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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, 15 April 10
DRY BULK MARKET SLOWLY GAINING GROUND
The troubled and underperforming capesize sector of the dry bulk market has been experiencing an improved sentiment since Tuesday, a trend verified ...
Tuesday, 13 April 10
CHINA COAL SEEING 'STRONG DEMAND,' PUDA COAL CFO SAYS - BUSINESS WEEK
Business Week reported that, China coal prices will increase this year as the nation’s industry expands and a drought in the southwest region ...
Tuesday, 13 April 10
PEABODY, COAL INDIA CONFIRM 'EARLY STAGE' TALKS - MINING WEEKLY
Mining Weekly reported that, US coal-miner Peabody Energy is holding discussions with Coal India, the company said on Monday, after an Australian ne ...
Tuesday, 13 April 10
ANGLO PREDICTS HIGH COAL PRICES, STEADY SUPPLY
Busrep / Reuters reported that, Coal prices were expected to remain strong this year, while exports would match last year's despite rail cons ...
Tuesday, 13 April 10
THE PANAMAX MARKET CONTINUED TO STRENGTHEN - BRS DRY BULK
Panamax rates continue to beat the market, and the Panamax 4TC is now trading at a 25% premium to the Cape 4TC — the biggest margin since the ...
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- Ministry of Finance - Indonesia
- Mercuria Energy - Indonesia
- International Coal Ventures Pvt Ltd - India
- Thai Mozambique Logistica
- Ministry of Mines - Canada
- European Bulk Services B.V. - Netherlands
- Africa Commodities Group - South Africa
- White Energy Company Limited
- Coalindo Energy - Indonesia
- Romanian Commodities Exchange
- Interocean Group of Companies - India
- VISA Power Limited - India
- SMG Consultants - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Toyota Tsusho Corporation, Japan
- Anglo American - United Kingdom
- Madhucon Powers Ltd - India
- Global Business Power Corporation, Philippines
- ASAPP Information Group - India
- Coal and Oil Company - UAE
- The State Trading Corporation of India Ltd
- Gujarat Mineral Development Corp Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Planning Commission, India
- Ministry of Transport, Egypt
- PNOC Exploration Corporation - Philippines
- Cement Manufacturers Association - India
- IEA Clean Coal Centre - UK
- Trasteel International SA, Italy
- Mintek Dendrill Indonesia
- Pendopo Energi Batubara - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Jaiprakash Power Ventures ltd
- Attock Cement Pakistan Limited
- Maharashtra Electricity Regulatory Commission - India
- Kapuas Tunggal Persada - Indonesia
- Simpson Spence & Young - Indonesia
- TeaM Sual Corporation - Philippines
- Coastal Gujarat Power Limited - India
- Bukit Makmur.PT - Indonesia
- Directorate Of Revenue Intelligence - India
- Indonesian Coal Mining Association
- Sinarmas Energy and Mining - Indonesia
- Krishnapatnam Port Company Ltd. - India
- GAC Shipping (India) Pvt Ltd
- Bhatia International Limited - India
- Kideco Jaya Agung - Indonesia
- Central Electricity Authority - India
- Tata Chemicals Ltd - India
- Altura Mining Limited, Indonesia
- Formosa Plastics Group - Taiwan
- Sical Logistics Limited - India
- Petron Corporation, Philippines
- Economic Council, Georgia
- Metalloyd Limited - United Kingdom
- Gujarat Sidhee Cement - India
- Timah Investasi Mineral - Indoneisa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ind-Barath Power Infra Limited - India
- Eastern Coal Council - USA
- Malabar Cements Ltd - India
- Indian Energy Exchange, India
- Merrill Lynch Commodities Europe
- Siam City Cement PLC, Thailand
- Kohat Cement Company Ltd. - Pakistan
- Wilmar Investment Holdings
- Sree Jayajothi Cements Limited - India
- Kumho Petrochemical, South Korea
- Alfred C Toepfer International GmbH - Germany
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Posco Energy - South Korea
- Jorong Barutama Greston.PT - Indonesia
- Bhushan Steel Limited - India
- Wood Mackenzie - Singapore
- Lanco Infratech Ltd - India
- Carbofer General Trading SA - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Uttam Galva Steels Limited - India
- Barasentosa Lestari - Indonesia
- Chamber of Mines of South Africa
- Vijayanagar Sugar Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- CIMB Investment Bank - Malaysia
- Xindia Steels Limited - India
- SMC Global Power, Philippines
- Jindal Steel & Power Ltd - India
- Chettinad Cement Corporation Ltd - India
- Oldendorff Carriers - Singapore
- Kartika Selabumi Mining - Indonesia
- Savvy Resources Ltd - HongKong
- Australian Coal Association
- The Treasury - Australian Government
- London Commodity Brokers - England
- Binh Thuan Hamico - Vietnam
- Australian Commodity Traders Exchange
- Karbindo Abesyapradhi - Indoneisa
- Therma Luzon, Inc, Philippines
- Manunggal Multi Energi - Indonesia
- Independent Power Producers Association of India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Meralco Power Generation, Philippines
- Aditya Birla Group - India
- Rio Tinto Coal - Australia
- Globalindo Alam Lestari - Indonesia
- Latin American Coal - Colombia
- Electricity Generating Authority of Thailand
- Maheswari Brothers Coal Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Kaltim Prima Coal - Indonesia
- GVK Power & Infra Limited - India
- Orica Australia Pty. Ltd.
- Global Coal Blending Company Limited - Australia
- OPG Power Generation Pvt Ltd - India
- Electricity Authority, New Zealand
- Holcim Trading Pte Ltd - Singapore
- AsiaOL BioFuels Corp., Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Borneo Indobara - Indonesia
- India Bulls Power Limited - India
- Semirara Mining and Power Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- Bukit Baiduri Energy - Indonesia
- Energy Link Ltd, New Zealand
- Bhoruka Overseas - Indonesia
- Mercator Lines Limited - India
- Port Waratah Coal Services - Australia
- Indika Energy - Indonesia
- Agrawal Coal Company - India
- Global Green Power PLC Corporation, Philippines
- Salva Resources Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- TNB Fuel Sdn Bhd - Malaysia
- Mjunction Services Limited - India
- Essar Steel Hazira Ltd - India
- San Jose City I Power Corp, Philippines
- Star Paper Mills Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Marubeni Corporation - India
- Siam City Cement - Thailand
- Ceylon Electricity Board - Sri Lanka
- The University of Queensland
- Energy Development Corp, Philippines
- Grasim Industreis Ltd - India
- Indogreen Group - Indonesia
- Kobexindo Tractors - Indoneisa
- Price Waterhouse Coopers - Russia
- Singapore Mercantile Exchange
- Rashtriya Ispat Nigam Limited - India
- Samtan Co., Ltd - South Korea
- Eastern Energy - Thailand
- Minerals Council of Australia
- Larsen & Toubro Limited - India
- CNBM International Corporation - China
- LBH Netherlands Bv - Netherlands
- Sindya Power Generating Company Private Ltd
- Bukit Asam (Persero) Tbk - Indonesia
- ICICI Bank Limited - India
- Bangladesh Power Developement Board
- Iligan Light & Power Inc, Philippines
- Heidelberg Cement - Germany
- Gujarat Electricity Regulatory Commission - India
- Sojitz Corporation - Japan
- Videocon Industries ltd - India
- PTC India Limited - India
- Kepco SPC Power Corporation, Philippines
- Georgia Ports Authority, United States
- Standard Chartered Bank - UAE
- Bharathi Cement Corporation - India
- Goldman Sachs - Singapore
- Petrochimia International Co. Ltd.- Taiwan
- Indian Oil Corporation Limited
- South Luzon Thermal Energy Corporation
- Riau Bara Harum - Indonesia
- Intertek Mineral Services - Indonesia
- Aboitiz Power Corporation - Philippines
- Edison Trading Spa - Italy
- Parry Sugars Refinery, India
- McConnell Dowell - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Sarangani Energy Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- Vizag Seaport Private Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Renaissance Capital - South Africa
- Bayan Resources Tbk. - Indonesia
- Semirara Mining Corp, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Baramulti Group, Indonesia
- Antam Resourcindo - Indonesia
- Tamil Nadu electricity Board
- Thiess Contractors Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Central Java Power - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Ambuja Cements Ltd - India
- PowerSource Philippines DevCo
- Straits Asia Resources Limited - Singapore
- Commonwealth Bank - Australia
- IHS Mccloskey Coal Group - USA
- SN Aboitiz Power Inc, Philippines
- Parliament of New Zealand
- New Zealand Coal & Carbon
- Deloitte Consulting - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- GMR Energy Limited - India
- Orica Mining Services - Indonesia
- Dalmia Cement Bharat India
- MS Steel International - UAE
- Sakthi Sugars Limited - India
- Karaikal Port Pvt Ltd - India
- Vedanta Resources Plc - India
- Power Finance Corporation Ltd., India
- Billiton Holdings Pty Ltd - Australia
- Makarim & Taira - Indonesia
- Medco Energi Mining Internasional
- Banpu Public Company Limited - Thailand
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