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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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Sunday, 14 March 10
CHINESE COAL PRICE MAY RISE TO TRADE NEAR SPOT, MACQUARIE SAYS
Bloomberg reported that, Steel mills in China, the world’s biggest producer of the alloy, may pay more for domestic coking coal this year as d ...
Sunday, 14 March 10
THERE IS NO INDICATION OF SLOWING DOWN OF IRON ORE AND COAL IMPORTS BY CHINA - VISTAAR SINGAPORE
COALspot.com: The dry bulk freight market continued the upward trend and the BDI closed 8.14 pct this week.
The Cape index up by 10.32 pct ...
Saturday, 13 March 10
INDONESIA COAL EXPORTS DROP IN FEBRUARY
COALspot.com: Indonesia, the world largest coal exporter, exported 24.38 million tons in January 2010 which fell slightly to 22.89 mln ton of coal i ...
Saturday, 13 March 10
INDONESIA TELLS BUKIT ASAM TO DITCH PARTNER IN SUMATRA RAILWAY UNLESS PROJECT STARTS
The Jakarta Globe reported that, the Indonesian government has urged state-owned miner PT Tambang Batubara Bukit Asam to look for new partners to he ...
Saturday, 13 March 10
OPTIMUM COAL AIMS TO RAISE R1,6 BILLION IN LISTING
All Africa reported that, COAL mining and exploration company Optimum Coal yesterday announced plans to list on the JSE at the end of the month ...
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- Bulk Trading Sa - Switzerland
- Jorong Barutama Greston.PT - Indonesia
- Thiess Contractors Indonesia
- Holcim Trading Pte Ltd - Singapore
- The Treasury - Australian Government
- Siam City Cement - Thailand
- Iligan Light & Power Inc, Philippines
- Bayan Resources Tbk. - Indonesia
- India Bulls Power Limited - India
- LBH Netherlands Bv - Netherlands
- Power Finance Corporation Ltd., India
- Toyota Tsusho Corporation, Japan
- Latin American Coal - Colombia
- Therma Luzon, Inc, Philippines
- Karaikal Port Pvt Ltd - India
- Thai Mozambique Logistica
- Parliament of New Zealand
- GAC Shipping (India) Pvt Ltd
- Kohat Cement Company Ltd. - Pakistan
- Indonesian Coal Mining Association
- Kumho Petrochemical, South Korea
- Grasim Industreis Ltd - India
- Aboitiz Power Corporation - Philippines
- Kapuas Tunggal Persada - Indonesia
- Kideco Jaya Agung - Indonesia
- Central Electricity Authority - India
- Africa Commodities Group - South Africa
- Samtan Co., Ltd - South Korea
- Ind-Barath Power Infra Limited - India
- IEA Clean Coal Centre - UK
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Carbofer General Trading SA - India
- Star Paper Mills Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Electricity Generating Authority of Thailand
- Romanian Commodities Exchange
- The State Trading Corporation of India Ltd
- Vijayanagar Sugar Pvt Ltd - India
- Semirara Mining Corp, Philippines
- Borneo Indobara - Indonesia
- Chamber of Mines of South Africa
- Riau Bara Harum - Indonesia
- PNOC Exploration Corporation - Philippines
- Georgia Ports Authority, United States
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Salva Resources Pvt Ltd - India
- Agrawal Coal Company - India
- Goldman Sachs - Singapore
- ICICI Bank Limited - India
- Bhoruka Overseas - Indonesia
- Wood Mackenzie - Singapore
- Jaiprakash Power Ventures ltd
- Electricity Authority, New Zealand
- Uttam Galva Steels Limited - India
- Indian Energy Exchange, India
- Heidelberg Cement - Germany
- Sindya Power Generating Company Private Ltd
- Altura Mining Limited, Indonesia
- GVK Power & Infra Limited - India
- European Bulk Services B.V. - Netherlands
- Makarim & Taira - Indonesia
- Directorate Of Revenue Intelligence - India
- Orica Mining Services - Indonesia
- Energy Link Ltd, New Zealand
- Sarangani Energy Corporation, Philippines
- Renaissance Capital - South Africa
- VISA Power Limited - India
- Straits Asia Resources Limited - Singapore
- Asmin Koalindo Tuhup - Indonesia
- Bangladesh Power Developement Board
- Meenaskhi Energy Private Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Coastal Gujarat Power Limited - India
- AsiaOL BioFuels Corp., Philippines
- GN Power Mariveles Coal Plant, Philippines
- Gujarat Electricity Regulatory Commission - India
- Global Coal Blending Company Limited - Australia
- New Zealand Coal & Carbon
- Indika Energy - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Mercuria Energy - Indonesia
- Central Java Power - Indonesia
- London Commodity Brokers - England
- Bahari Cakrawala Sebuku - Indonesia
- Marubeni Corporation - India
- GMR Energy Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Bhatia International Limited - India
- Cigading International Bulk Terminal - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Energy Development Corp, Philippines
- Ceylon Electricity Board - Sri Lanka
- Petrochimia International Co. Ltd.- Taiwan
- Aditya Birla Group - India
- Coalindo Energy - Indonesia
- Medco Energi Mining Internasional
- Port Waratah Coal Services - Australia
- Gujarat Sidhee Cement - India
- Siam City Cement PLC, Thailand
- Globalindo Alam Lestari - Indonesia
- Xindia Steels Limited - India
- Kaltim Prima Coal - Indonesia
- Pendopo Energi Batubara - Indonesia
- McConnell Dowell - Australia
- Coal and Oil Company - UAE
- Leighton Contractors Pty Ltd - Australia
- IHS Mccloskey Coal Group - USA
- Chettinad Cement Corporation Ltd - India
- Madhucon Powers Ltd - India
- CIMB Investment Bank - Malaysia
- Timah Investasi Mineral - Indoneisa
- Dalmia Cement Bharat India
- Kartika Selabumi Mining - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Edison Trading Spa - Italy
- South Luzon Thermal Energy Corporation
- Planning Commission, India
- CNBM International Corporation - China
- Eastern Energy - Thailand
- International Coal Ventures Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Attock Cement Pakistan Limited
- Orica Australia Pty. Ltd.
- Metalloyd Limited - United Kingdom
- Sical Logistics Limited - India
- Maheswari Brothers Coal Limited - India
- Banpu Public Company Limited - Thailand
- TeaM Sual Corporation - Philippines
- Cement Manufacturers Association - India
- Global Green Power PLC Corporation, Philippines
- Petron Corporation, Philippines
- Baramulti Group, Indonesia
- Interocean Group of Companies - India
- OPG Power Generation Pvt Ltd - India
- Parry Sugars Refinery, India
- Price Waterhouse Coopers - Russia
- ASAPP Information Group - India
- Pipit Mutiara Jaya. PT, Indonesia
- Tata Chemicals Ltd - India
- White Energy Company Limited
- Videocon Industries ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Mintek Dendrill Indonesia
- Essar Steel Hazira Ltd - India
- Vedanta Resources Plc - India
- Bukit Makmur.PT - Indonesia
- Malabar Cements Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Singapore Mercantile Exchange
- TNB Fuel Sdn Bhd - Malaysia
- Vizag Seaport Private Limited - India
- Indo Tambangraya Megah - Indonesia
- Binh Thuan Hamico - Vietnam
- Trasteel International SA, Italy
- Savvy Resources Ltd - HongKong
- SMC Global Power, Philippines
- The University of Queensland
- Gujarat Mineral Development Corp Ltd - India
- Eastern Coal Council - USA
- Neyveli Lignite Corporation Ltd, - India
- Sakthi Sugars Limited - India
- Mercator Lines Limited - India
- Barasentosa Lestari - Indonesia
- SN Aboitiz Power Inc, Philippines
- Kepco SPC Power Corporation, Philippines
- Posco Energy - South Korea
- Standard Chartered Bank - UAE
- Merrill Lynch Commodities Europe
- Ministry of Finance - Indonesia
- Lanco Infratech Ltd - India
- Tamil Nadu electricity Board
- San Jose City I Power Corp, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ambuja Cements Ltd - India
- Minerals Council of Australia
- Australian Commodity Traders Exchange
- Krishnapatnam Port Company Ltd. - India
- Economic Council, Georgia
- Meralco Power Generation, Philippines
- Intertek Mineral Services - Indonesia
- Global Business Power Corporation, Philippines
- Independent Power Producers Association of India
- Rashtriya Ispat Nigam Limited - India
- Maharashtra Electricity Regulatory Commission - India
- MS Steel International - UAE
- Ministry of Mines - Canada
- Oldendorff Carriers - Singapore
- Australian Coal Association
- Larsen & Toubro Limited - India
- Indogreen Group - Indonesia
- Jindal Steel & Power Ltd - India
- Indian Oil Corporation Limited
- Sree Jayajothi Cements Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Sojitz Corporation - Japan
- Karbindo Abesyapradhi - Indoneisa
- Ministry of Transport, Egypt
- Commonwealth Bank - Australia
- Kobexindo Tractors - Indoneisa
- Wilmar Investment Holdings
- Bhushan Steel Limited - India
- Simpson Spence & Young - Indonesia
- Anglo American - United Kingdom
- Bukit Baiduri Energy - Indonesia
- SMG Consultants - Indonesia
- Antam Resourcindo - Indonesia
- PowerSource Philippines DevCo
- Bharathi Cement Corporation - India
- Sinarmas Energy and Mining - Indonesia
- PTC India Limited - India
- Rio Tinto Coal - Australia
- Mjunction Services Limited - India
- Deloitte Consulting - India
- Formosa Plastics Group - Taiwan
- Manunggal Multi Energi - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
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