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Thursday, 01 April 10
PROFIT AT TWO INDONESIAN COAL MINERS SOARS AS RECOVERY STIRS GREATER DEMAND, HIGHER PRICES - THE JAKARTA GLOBE
 The Jakarta Globe reported that, Two of the country’s biggest coal producers enjoyed a surge in profit last year as prices rose and demand picked up in line with the start of the global economic recovery.
PT Adaro Energy, the country’s third-largest coal producer, announced on Wednesday that net profit more than quadrupled to a record high of Rp 4.4 trillion ($484 million) last year from Rp 887 billion in 2008.
Meanwhile, PT Bayan Resources, one of the top 10 producers, said in a statement that net profit soared to Rp 136.29 billion from Rp 20.71 billion.
Ario Rachmat, Adaro Energy’s vice president director, attributed the profit growth to higher average selling prices of coal as well as increased production.
He said that although demand was weak in the first quarter of 2009, conditions improved in the second half of the year, with greater demand pushing prices higher and increasing revenue.
Adaro’s average selling price last year was $59.3 per ton, up 52 percent from $39 per ton in 2008. The price realized last year was based on a contract made in 2008.
In 2009, Adaro’s revenue grew 49 percent to Rp 26.9 trillion.
Bayan’s revenue rose 59 percent to Rp 7.75 trillion last year from Rp 4.88 trillion in 2008.
Weather conditions last year were favorable for coal miners. Adaro’s production increased to 40.6 million tons from 38.5 million tons a year previously.
The Jakarta-listed company has said it aimed to increase production by 10 percent this year and planned capital expenditure of $300 million to $350 million to help achieve that target.
Adaro said it had signed an agreement with global mining giant BHP Billiton to develop BHP’s mines jointly in Indonesia. Adaro will get shares in BHP’s coal-mining units, including PT Maruwai Coal, PT Juloi Coal, PT Kalteng Coal, PT Sumber Barito Coal, PT Lahai Coal, PT Ratah Coal and PT Pari Coal.
“We will have 25 percent stakes in each of the mines,” said Andre Mamuaya Adaro’s corporate secretary.
Frederick Daniel Tanggela, an analyst at PT Sucorinvest Central Gani, said the coal industry was expected to suffer a slowdown this year because of lower prices.
He said Adaro’s higher production would offset the lower prices, allowing the company to enjoy higher revenue. “But we project that Adaro’s net profit will decline by 5 percent this year,” he said.
Meanwhile, PT Energy Mega Persada, an oil and gas company affiliated with the Bakrie group, reported that its net loss in 2009 widened to Rp 1.7 trillion from a Rp 35 billion loss in 2008 because of a lower realized oil price.
Revenue dropped by 22 percent to Rp 1.44 trillion from Rp 1.85 trillion, it said.
“The oil price dropped by 38 percent last year compared with 2008,” said Imam Agustino, president director of Energy Mega Persada.
Source: The Jakarta Globe ( By: Yessar Rosendar)
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Tuesday, 19 January 10
COAL FOR DOMESTIC USERS
While the government is already almost a year behind schedule in issuing regulations to implement the new mining law, mineral producers have been&nb ...
Tuesday, 19 January 10
RISING DEMAND FROM POWER FIRMS TO PUSH COAL PRICES
The resurgence of the Chinese economy, along with harsh winter conditions across the country, is likely to push coal prices up in the short term. In ...
Tuesday, 19 January 10
ESSAR'S MEGA ACQUISITION PLANS
India’s Essar Group has carved a mega plan that includes a slew of acquisitions and investments in assets across various businesses. CNBC-TV18 ...
Monday, 18 January 10
INDONESIA SHIPPED 15.90 PERCENT OF TOTAL COAL EXPORTS IN 2009 TO INDIA
COALspot.com (Indonesia): Indonesia, the world largest coal exporter, exported 19.07 percent of the total coal export in 2009 to China and 15. ...
Monday, 18 January 10
BHP TO SPEND $267 MILLION ON QUEENSLAND COKING COAL
BHP Billiton Ltd, the world’s largest mining company, will spend $267 million to accelerate development of the Caval Ridge mine and the Hay Po ...
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- Orica Australia Pty. Ltd.
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- Planning Commission, India
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- SMC Global Power, Philippines
- CNBM International Corporation - China
- Petron Corporation, Philippines
- Sical Logistics Limited - India
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- Parliament of New Zealand
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- Renaissance Capital - South Africa
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- Ind-Barath Power Infra Limited - India
- Goldman Sachs - Singapore
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- Salva Resources Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
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- Central Electricity Authority - India
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- Commonwealth Bank - Australia
- Barasentosa Lestari - Indonesia
- Intertek Mineral Services - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Mercuria Energy - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- ICICI Bank Limited - India
- Semirara Mining and Power Corporation, Philippines
- Chamber of Mines of South Africa
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- Global Business Power Corporation, Philippines
- VISA Power Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Sojitz Corporation - Japan
- Bhatia International Limited - India
- Coastal Gujarat Power Limited - India
- Economic Council, Georgia
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- GMR Energy Limited - India
- Miang Besar Coal Terminal - Indonesia
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- Parry Sugars Refinery, India
- Romanian Commodities Exchange
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- Thiess Contractors Indonesia
- Tamil Nadu electricity Board
- South Luzon Thermal Energy Corporation
- Toyota Tsusho Corporation, Japan
- Baramulti Group, Indonesia
- Bukit Makmur.PT - Indonesia
- Uttam Galva Steels Limited - India
- Sree Jayajothi Cements Limited - India
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- Larsen & Toubro Limited - India
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- PowerSource Philippines DevCo
- CIMB Investment Bank - Malaysia
- Iligan Light & Power Inc, Philippines
- Borneo Indobara - Indonesia
- Jaiprakash Power Ventures ltd
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- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Africa Commodities Group - South Africa
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- TeaM Sual Corporation - Philippines
- Jorong Barutama Greston.PT - Indonesia
- Singapore Mercantile Exchange
- London Commodity Brokers - England
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- Trasteel International SA, Italy
- Deloitte Consulting - India
- San Jose City I Power Corp, Philippines
- Malabar Cements Ltd - India
- New Zealand Coal & Carbon
- Energy Link Ltd, New Zealand
- OPG Power Generation Pvt Ltd - India
- Eastern Coal Council - USA
- Krishnapatnam Port Company Ltd. - India
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- Tata Chemicals Ltd - India
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- Bangladesh Power Developement Board
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- Holcim Trading Pte Ltd - Singapore
- Kumho Petrochemical, South Korea
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- Rio Tinto Coal - Australia
- Ceylon Electricity Board - Sri Lanka
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- Orica Mining Services - Indonesia
- Mercator Lines Limited - India
- Binh Thuan Hamico - Vietnam
- GAC Shipping (India) Pvt Ltd
- Riau Bara Harum - Indonesia
- Mjunction Services Limited - India
- Simpson Spence & Young - Indonesia
- Bulk Trading Sa - Switzerland
- Timah Investasi Mineral - Indoneisa
- Indian Energy Exchange, India
- McConnell Dowell - Australia
- SMG Consultants - Indonesia
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- Kobexindo Tractors - Indoneisa
- Independent Power Producers Association of India
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- Pendopo Energi Batubara - Indonesia
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- Australian Coal Association
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- MS Steel International - UAE
- Kalimantan Lumbung Energi - Indonesia
- Bhoruka Overseas - Indonesia
- White Energy Company Limited
- Energy Development Corp, Philippines
- Savvy Resources Ltd - HongKong
- Heidelberg Cement - Germany
- Madhucon Powers Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Maheswari Brothers Coal Limited - India
- Eastern Energy - Thailand
- Grasim Industreis Ltd - India
- Jindal Steel & Power Ltd - India
- Siam City Cement - Thailand
- Videocon Industries ltd - India
- Indian Oil Corporation Limited
- Georgia Ports Authority, United States
- The Treasury - Australian Government
- Kapuas Tunggal Persada - Indonesia
- Power Finance Corporation Ltd., India
- Petrochimia International Co. Ltd.- Taiwan
- Electricity Generating Authority of Thailand
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- Cement Manufacturers Association - India
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- Electricity Authority, New Zealand
- India Bulls Power Limited - India
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- Altura Mining Limited, Indonesia
- International Coal Ventures Pvt Ltd - India
- Thai Mozambique Logistica
- Merrill Lynch Commodities Europe
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- Aboitiz Power Corporation - Philippines
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- Standard Chartered Bank - UAE
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