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Sunday, 16 May 10
INDIKA ENERGY & COAL ASSETS EXPANSION
Insider stories reported that, PT Indika Energy Tbk (INDY) has three portfolio coal assets, PT Kideco Jaya Agung, coal asset in East Kalimantan, and PT Santan Batubara.
In a public expose material submitted to Indonesia Stock Exchange, Indika owns 46% stakes in Kideco which has coal reserves of 579 million tons with concession area of 50,400 hectares. In Kalimantan Barat's coal asset, Indika controls 90% stakes at 34,200 hectares concession area.
Through PT Petrosea Tbk (PTRO), Indika owns 50% stakes in Santan Batubara with 264 million tons of coal reserves.
Kideco Expansion
At the end of March 2010, Kideco, Indonesia's third largest coal mining company, produced 6.9 million tons of coal with overberden removal of 44.8 million bcm. Kideco's strip ratio reached 6.49.
Kideco has bought equipments such as dumptrucks, excavator, and the others. It has improved crushing plant and loading facilities. Kideco has initiated development of Samarangau pit which has the largest coal reserves at Kideco's concession area.
Samarangau is estimated to have coal resouces of 694 million tons and 348 million tons of coal reserves.
Santan Production
Santan Batubara is a joint venture between Petrosea, coal mining contractor acquired by Indika mid last year, and PT Harum Energy, a coal mine company owned by Indonesian tycoon Kiki Barki. Petrosea is responsible for coal mining contract and Harum Energy holds Santan's coal marketing.
Santan has commenced a commercial production in March 2009 by mining 1.25 million tons of coal. Santan has signed five contracts of overburden removal with Petrosea. The first productions this year and 2011 are estimated to obtain 2.5 million tons of coal annually.
In mrach 2010, Santan posted US$43.79 million in revenue and recorded 660,456 tons of coal in sales.
Santan has current production capacity of 200,000 tons per month in a bid to provide coals for customers in the local market, India, Korea, and others.
Source: Insider Stories
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Thursday, 29 April 10
KANGAROO RESOURCES INKS KEY COAL EXPORT CONTRACT WITH YUDEAN FARNON - PROACTIVE INVESTORS
Proactive Investors reprted that, Kangaroo Resources has secured an initial export sales contract for coal from the company’s operating coal p ...
Wednesday, 28 April 10
UNITED TRACTORS FOCUSES ON MINING AS IT SEEKS TO DIVERSIFY REVENUE SOURCES - JG
The Jakarta globe reported that, PT United Tractors, Indonesia’s biggest heavy-equipment distributor and mining contractor, aims to have its m ...
Wednesday, 28 April 10
DRY BULK MARKET
After a prolonged period of anticipation and a stalled dry bulk market in terms of freight rates, the industry’s benchmark, the Baltic Dry Ind ...
Tuesday, 27 April 10
CAPESIZES UP, PANAMAXES DOWN - BRS
It was Capesizes up, Panamaxes down this week as the latter experienced a correction after its recent gains. Period rates for Panamaxes remain firm ...
Tuesday, 27 April 10
S.KOREA EWP SEEKS 0.520 MILLION TONS OF SUB-BITUMINOUS COAL
COALspot.com: South Korea East West Power Company has called for term bids for supply of Sub-bituminous Coal for Dangjin Thermal Power Pla ...
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- Chamber of Mines of South Africa
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- Samtan Co., Ltd - South Korea
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- Salva Resources Pvt Ltd - India
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- Makarim & Taira - Indonesia
- Planning Commission, India
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- Offshore Bulk Terminal Pte Ltd, Singapore
- Merrill Lynch Commodities Europe
- Africa Commodities Group - South Africa
- Vedanta Resources Plc - India
- Sojitz Corporation - Japan
- Indogreen Group - Indonesia
- Carbofer General Trading SA - India
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- Sindya Power Generating Company Private Ltd
- Ministry of Finance - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Billiton Holdings Pty Ltd - Australia
- SMG Consultants - Indonesia
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- Global Green Power PLC Corporation, Philippines
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- Bharathi Cement Corporation - India
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- Lanco Infratech Ltd - India
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- CIMB Investment Bank - Malaysia
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- Cement Manufacturers Association - India
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- The State Trading Corporation of India Ltd
- Kideco Jaya Agung - Indonesia
- McConnell Dowell - Australia
- Siam City Cement PLC, Thailand
- Minerals Council of Australia
- PetroVietnam Power Coal Import and Supply Company
- Jorong Barutama Greston.PT - Indonesia
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- Gujarat Electricity Regulatory Commission - India
- IHS Mccloskey Coal Group - USA
- VISA Power Limited - India
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- Romanian Commodities Exchange
- Essar Steel Hazira Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
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- Eastern Energy - Thailand
- Port Waratah Coal Services - Australia
- Barasentosa Lestari - Indonesia
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- The University of Queensland
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- Economic Council, Georgia
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- Australian Commodity Traders Exchange
- Banpu Public Company Limited - Thailand
- Indo Tambangraya Megah - Indonesia
- PowerSource Philippines DevCo
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- Metalloyd Limited - United Kingdom
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- Semirara Mining and Power Corporation, Philippines
- Deloitte Consulting - India
- Electricity Authority, New Zealand
- Neyveli Lignite Corporation Ltd, - India
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- Goldman Sachs - Singapore
- Pendopo Energi Batubara - Indonesia
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- Standard Chartered Bank - UAE
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- Straits Asia Resources Limited - Singapore
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- Bangladesh Power Developement Board
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