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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, 08 April 10
INDONESIAN ENERGY MINISTRY SEEKS LONGER MINING CONTRACTS - THE JAKARTAGLOBE
The Jakarta Globe reported that, Energy Minister Darwin Zahedy Saleh said he would seek to amend the mining law to address investors’ complain ...
Thursday, 08 April 10
NAPOCOR GETS ONE OFFER AT COAL TENDER - ABS CBN
ABS- CBN News reported that, Philippine power producer National Power Corp. (Napocor) is likely to buy 50,000 tons of steam coal from PT Berau Coal ...
Wednesday, 07 April 10
DRY BULK MARKET LOOKING FOR DIRECTION
The dry bulk market has kept a low profile during the past week, as evidenced by the small changes of a usually rather turbulent Baltic Dry Index (B ...
Tuesday, 06 April 10
NEWCASTLE COAL EXPORTS RISE 24%, SHIP QUEUE SHORTENS - BLOOMBERG
Bloomberg reported that, Coal shipments from Australia’s Newcastle port, the world’s biggest export harbor for the fuel used in power st ...
Tuesday, 06 April 10
UAE STEEL TRADERS FEAR LOSSES ON GLOBAL HIKE
A sudden spurt in the price of iron ore in the international market has caught local steel traders and manufacturers and a host of other steel-depen ...
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- Gujarat Electricity Regulatory Commission - India
- Vedanta Resources Plc - India
- AsiaOL BioFuels Corp., Philippines
- Sindya Power Generating Company Private Ltd
- Bukit Makmur.PT - Indonesia
- PowerSource Philippines DevCo
- Electricity Generating Authority of Thailand
- Aboitiz Power Corporation - Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- OPG Power Generation Pvt Ltd - India
- Baramulti Group, Indonesia
- Grasim Industreis Ltd - India
- Wood Mackenzie - Singapore
- Kobexindo Tractors - Indoneisa
- Siam City Cement - Thailand
- Planning Commission, India
- Minerals Council of Australia
- Vijayanagar Sugar Pvt Ltd - India
- Xindia Steels Limited - India
- Neyveli Lignite Corporation Ltd, - India
- International Coal Ventures Pvt Ltd - India
- Goldman Sachs - Singapore
- Ambuja Cements Ltd - India
- Latin American Coal - Colombia
- Meenaskhi Energy Private Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Riau Bara Harum - Indonesia
- ICICI Bank Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kapuas Tunggal Persada - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Indian Energy Exchange, India
- Sakthi Sugars Limited - India
- Sical Logistics Limited - India
- Pendopo Energi Batubara - Indonesia
- Heidelberg Cement - Germany
- Bangladesh Power Developement Board
- Global Coal Blending Company Limited - Australia
- Therma Luzon, Inc, Philippines
- Price Waterhouse Coopers - Russia
- Lanco Infratech Ltd - India
- Globalindo Alam Lestari - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Bhatia International Limited - India
- Sarangani Energy Corporation, Philippines
- Medco Energi Mining Internasional
- Formosa Plastics Group - Taiwan
- Maharashtra Electricity Regulatory Commission - India
- Coal and Oil Company - UAE
- Indika Energy - Indonesia
- Kaltim Prima Coal - Indonesia
- Larsen & Toubro Limited - India
- Madhucon Powers Ltd - India
- Standard Chartered Bank - UAE
- Marubeni Corporation - India
- Jorong Barutama Greston.PT - Indonesia
- Bayan Resources Tbk. - Indonesia
- Sojitz Corporation - Japan
- San Jose City I Power Corp, Philippines
- Thiess Contractors Indonesia
- Rio Tinto Coal - Australia
- Deloitte Consulting - India
- Independent Power Producers Association of India
- Timah Investasi Mineral - Indoneisa
- Semirara Mining and Power Corporation, Philippines
- Port Waratah Coal Services - Australia
- Vizag Seaport Private Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Antam Resourcindo - Indonesia
- Coalindo Energy - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Australian Coal Association
- Tamil Nadu electricity Board
- The University of Queensland
- Ministry of Finance - Indonesia
- Iligan Light & Power Inc, Philippines
- Samtan Co., Ltd - South Korea
- London Commodity Brokers - England
- Manunggal Multi Energi - Indonesia
- Singapore Mercantile Exchange
- SMG Consultants - Indonesia
- Essar Steel Hazira Ltd - India
- Makarim & Taira - Indonesia
- Aditya Birla Group - India
- Jindal Steel & Power Ltd - India
- The State Trading Corporation of India Ltd
- Commonwealth Bank - Australia
- Ministry of Transport, Egypt
- Petron Corporation, Philippines
- Interocean Group of Companies - India
- IEA Clean Coal Centre - UK
- Economic Council, Georgia
- Billiton Holdings Pty Ltd - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- European Bulk Services B.V. - Netherlands
- Power Finance Corporation Ltd., India
- Tata Chemicals Ltd - India
- Energy Development Corp, Philippines
- Dalmia Cement Bharat India
- Uttam Galva Steels Limited - India
- Kepco SPC Power Corporation, Philippines
- SMC Global Power, Philippines
- Ind-Barath Power Infra Limited - India
- Coastal Gujarat Power Limited - India
- PNOC Exploration Corporation - Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Bulk Trading Sa - Switzerland
- Star Paper Mills Limited - India
- Orica Mining Services - Indonesia
- Mercuria Energy - Indonesia
- Siam City Cement PLC, Thailand
- Cigading International Bulk Terminal - Indonesia
- GMR Energy Limited - India
- Orica Australia Pty. Ltd.
- Directorate General of MIneral and Coal - Indonesia
- Romanian Commodities Exchange
- Agrawal Coal Company - India
- Georgia Ports Authority, United States
- Videocon Industries ltd - India
- Africa Commodities Group - South Africa
- Chettinad Cement Corporation Ltd - India
- Bukit Baiduri Energy - Indonesia
- Bhushan Steel Limited - India
- Mjunction Services Limited - India
- Posco Energy - South Korea
- Simpson Spence & Young - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Parliament of New Zealand
- Directorate Of Revenue Intelligence - India
- India Bulls Power Limited - India
- The Treasury - Australian Government
- IHS Mccloskey Coal Group - USA
- McConnell Dowell - Australia
- Sree Jayajothi Cements Limited - India
- Mercator Lines Limited - India
- Salva Resources Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- Central Electricity Authority - India
- Alfred C Toepfer International GmbH - Germany
- Central Java Power - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Krishnapatnam Port Company Ltd. - India
- Malabar Cements Ltd - India
- Binh Thuan Hamico - Vietnam
- Bahari Cakrawala Sebuku - Indonesia
- White Energy Company Limited
- Kohat Cement Company Ltd. - Pakistan
- Merrill Lynch Commodities Europe
- Kalimantan Lumbung Energi - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Straits Asia Resources Limited - Singapore
- Anglo American - United Kingdom
- Indonesian Coal Mining Association
- CNBM International Corporation - China
- Meralco Power Generation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Global Business Power Corporation, Philippines
- Savvy Resources Ltd - HongKong
- LBH Netherlands Bv - Netherlands
- Renaissance Capital - South Africa
- Indogreen Group - Indonesia
- Semirara Mining Corp, Philippines
- Thai Mozambique Logistica
- Energy Link Ltd, New Zealand
- Cement Manufacturers Association - India
- Attock Cement Pakistan Limited
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Maheswari Brothers Coal Limited - India
- Bharathi Cement Corporation - India
- Australian Commodity Traders Exchange
- Jaiprakash Power Ventures ltd
- VISA Power Limited - India
- Gujarat Sidhee Cement - India
- Toyota Tsusho Corporation, Japan
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indian Oil Corporation Limited
- Metalloyd Limited - United Kingdom
- GVK Power & Infra Limited - India
- Electricity Authority, New Zealand
- Carbofer General Trading SA - India
- Parry Sugars Refinery, India
- Kumho Petrochemical, South Korea
- Barasentosa Lestari - Indonesia
- Sinarmas Energy and Mining - Indonesia
- GAC Shipping (India) Pvt Ltd
- Kartika Selabumi Mining - Indonesia
- PTC India Limited - India
- Intertek Mineral Services - Indonesia
- Oldendorff Carriers - Singapore
- Karaikal Port Pvt Ltd - India
- Kideco Jaya Agung - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Altura Mining Limited, Indonesia
- ASAPP Information Group - India
- New Zealand Coal & Carbon
- Wilmar Investment Holdings
- Leighton Contractors Pty Ltd - Australia
- MS Steel International - UAE
- TeaM Sual Corporation - Philippines
- South Luzon Thermal Energy Corporation
- Miang Besar Coal Terminal - Indonesia
- CIMB Investment Bank - Malaysia
- Ministry of Mines - Canada
- Borneo Indobara - Indonesia
- Global Green Power PLC Corporation, Philippines
- Edison Trading Spa - Italy
- Chamber of Mines of South Africa
- Banpu Public Company Limited - Thailand
- Indo Tambangraya Megah - Indonesia
- Eastern Energy - Thailand
- Mintek Dendrill Indonesia
- Trasteel International SA, Italy
- Eastern Coal Council - USA
- Gujarat Mineral Development Corp Ltd - India
- Holcim Trading Pte Ltd - Singapore
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