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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, 11 March 10
THE INDIAN MARKET WAS A BIT QUIET BUT STILL FIRM - FEARNLEYS AS
Handy - Atlantic activity has kept its firm tendency throughout the week for handies, with Atlantic RV´s fixed in the USD.16000 region. With s ...
Thursday, 11 March 10
COAL PRICES SET TO RISE AMID CONFUSION OVER QUARTERLY SYSTEM
Trading room reported that, Coal prices are tipped to rise in coming months amid constrained supply and ongoing Chinese demand, and analysts are con ...
Wednesday, 10 March 10
PROTECTED FORESTS NOW UP FOR GRABS FOR MINING
The Jakarta Post reported that, the government has just issued two new regulations on forests, which could allow protected forests to be used for co ...
Tuesday, 09 March 10
REGULATION NO.23 OF 2010 CONCERNING IMPLEMENTATION OF NEW MINING LAW, PROVIDES MORE CLARITY ON OBTAINING A IUP
COALspot.com: Indonesian government has recently issued another regulation related to Law number 4 of 2009 concerning mineral and coal mining. Two r ...
Tuesday, 09 March 10
MINING LAW OPTIMIZES SECTOR
Law No. 4 / 2009 on Mineral and Coal Mining have given a new direction for the future of mining in Indonesia, including Domestic Market Obligation, ...
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- Indian Oil Corporation Limited
- Wilmar Investment Holdings
- Madhucon Powers Ltd - India
- Ind-Barath Power Infra Limited - India
- Star Paper Mills Limited - India
- Renaissance Capital - South Africa
- Videocon Industries ltd - India
- Bayan Resources Tbk. - Indonesia
- Global Green Power PLC Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Directorate Of Revenue Intelligence - India
- Kohat Cement Company Ltd. - Pakistan
- Anglo American - United Kingdom
- Carbofer General Trading SA - India
- Commonwealth Bank - Australia
- Kepco SPC Power Corporation, Philippines
- Cement Manufacturers Association - India
- Essar Steel Hazira Ltd - India
- Orica Mining Services - Indonesia
- Tata Chemicals Ltd - India
- Borneo Indobara - Indonesia
- Bhatia International Limited - India
- Electricity Authority, New Zealand
- Riau Bara Harum - Indonesia
- Power Finance Corporation Ltd., India
- Oldendorff Carriers - Singapore
- Global Coal Blending Company Limited - Australia
- Vedanta Resources Plc - India
- SN Aboitiz Power Inc, Philippines
- Coal and Oil Company - UAE
- Bank of Tokyo Mitsubishi UFJ Ltd
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- Coalindo Energy - Indonesia
- Georgia Ports Authority, United States
- Interocean Group of Companies - India
- Chamber of Mines of South Africa
- Timah Investasi Mineral - Indoneisa
- Siam City Cement PLC, Thailand
- India Bulls Power Limited - India
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- Planning Commission, India
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- Larsen & Toubro Limited - India
- Globalindo Alam Lestari - Indonesia
- Mercator Lines Limited - India
- Grasim Industreis Ltd - India
- McConnell Dowell - Australia
- South Luzon Thermal Energy Corporation
- Binh Thuan Hamico - Vietnam
- Edison Trading Spa - Italy
- Thai Mozambique Logistica
- Energy Development Corp, Philippines
- LBH Netherlands Bv - Netherlands
- Miang Besar Coal Terminal - Indonesia
- New Zealand Coal & Carbon
- Bukit Baiduri Energy - Indonesia
- Metalloyd Limited - United Kingdom
- Bharathi Cement Corporation - India
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- Directorate General of MIneral and Coal - Indonesia
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- Maheswari Brothers Coal Limited - India
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- TeaM Sual Corporation - Philippines
- Antam Resourcindo - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Thiess Contractors Indonesia
- Pendopo Energi Batubara - Indonesia
- Petron Corporation, Philippines
- Ministry of Transport, Egypt
- GVK Power & Infra Limited - India
- Energy Link Ltd, New Zealand
- Gujarat Electricity Regulatory Commission - India
- Sical Logistics Limited - India
- Economic Council, Georgia
- Africa Commodities Group - South Africa
- Kobexindo Tractors - Indoneisa
- Karaikal Port Pvt Ltd - India
- OPG Power Generation Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Eastern Energy - Thailand
- Mercuria Energy - Indonesia
- PTC India Limited - India
- Sree Jayajothi Cements Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Intertek Mineral Services - Indonesia
- San Jose City I Power Corp, Philippines
- Kaltim Prima Coal - Indonesia
- Goldman Sachs - Singapore
- Central Java Power - Indonesia
- Rio Tinto Coal - Australia
- PetroVietnam Power Coal Import and Supply Company
- Indogreen Group - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Bahari Cakrawala Sebuku - Indonesia
- Wood Mackenzie - Singapore
- Mjunction Services Limited - India
- Merrill Lynch Commodities Europe
- Mintek Dendrill Indonesia
- Heidelberg Cement - Germany
- European Bulk Services B.V. - Netherlands
- SMG Consultants - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Ministry of Mines - Canada
- Ambuja Cements Ltd - India
- Sakthi Sugars Limited - India
- Malabar Cements Ltd - India
- Indo Tambangraya Megah - Indonesia
- Deloitte Consulting - India
- Bhoruka Overseas - Indonesia
- Bhushan Steel Limited - India
- MS Steel International - UAE
- Barasentosa Lestari - Indonesia
- Tamil Nadu electricity Board
- Global Business Power Corporation, Philippines
- Attock Cement Pakistan Limited
- Indian Energy Exchange, India
- Bulk Trading Sa - Switzerland
- Offshore Bulk Terminal Pte Ltd, Singapore
- Trasteel International SA, Italy
- Indika Energy - Indonesia
- Straits Asia Resources Limited - Singapore
- IEA Clean Coal Centre - UK
- Banpu Public Company Limited - Thailand
- Electricity Generating Authority of Thailand
- Jindal Steel & Power Ltd - India
- Kumho Petrochemical, South Korea
- Jaiprakash Power Ventures ltd
- Manunggal Multi Energi - Indonesia
- ICICI Bank Limited - India
- Eastern Coal Council - USA
- GAC Shipping (India) Pvt Ltd
- Bukit Asam (Persero) Tbk - Indonesia
- White Energy Company Limited
- Formosa Plastics Group - Taiwan
- Australian Commodity Traders Exchange
- Maharashtra Electricity Regulatory Commission - India
- Jorong Barutama Greston.PT - Indonesia
- Salva Resources Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- London Commodity Brokers - England
- Sojitz Corporation - Japan
- Dalmia Cement Bharat India
- Aboitiz Power Corporation - Philippines
- The Treasury - Australian Government
- Leighton Contractors Pty Ltd - Australia
- Sindya Power Generating Company Private Ltd
- Central Electricity Authority - India
- Xindia Steels Limited - India
- Independent Power Producers Association of India
- Orica Australia Pty. Ltd.
- Pipit Mutiara Jaya. PT, Indonesia
- Minerals Council of Australia
- SMC Global Power, Philippines
- Billiton Holdings Pty Ltd - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Singapore Mercantile Exchange
- VISA Power Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Therma Luzon, Inc, Philippines
- Altura Mining Limited, Indonesia
- Kideco Jaya Agung - Indonesia
- PowerSource Philippines DevCo
- Semirara Mining and Power Corporation, Philippines
- Standard Chartered Bank - UAE
- Sarangani Energy Corporation, Philippines
- GMR Energy Limited - India
- AsiaOL BioFuels Corp., Philippines
- Vizag Seaport Private Limited - India
- Baramulti Group, Indonesia
- Meralco Power Generation, Philippines
- ASAPP Information Group - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Price Waterhouse Coopers - Russia
- Indonesian Coal Mining Association
- Coastal Gujarat Power Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Romanian Commodities Exchange
- The University of Queensland
- Siam City Cement - Thailand
- The State Trading Corporation of India Ltd
- CIMB Investment Bank - Malaysia
- Savvy Resources Ltd - HongKong
- Bukit Makmur.PT - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Aditya Birla Group - India
- Parliament of New Zealand
- Ministry of Finance - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Bangladesh Power Developement Board
- Makarim & Taira - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Medco Energi Mining Internasional
- Toyota Tsusho Corporation, Japan
- International Coal Ventures Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- CNBM International Corporation - China
- IHS Mccloskey Coal Group - USA
- Port Waratah Coal Services - Australia
- Rashtriya Ispat Nigam Limited - India
- Cigading International Bulk Terminal - Indonesia
- Lanco Infratech Ltd - India
- Samtan Co., Ltd - South Korea
- PNOC Exploration Corporation - Philippines
- Semirara Mining Corp, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Iligan Light & Power Inc, Philippines
- Parry Sugars Refinery, India
- Australian Coal Association
- Asia Pacific Energy Resources Ventures Inc, Philippines
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