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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, 22 October 09
2ND UNITED INDONESIA CABINET UNVEILED
The Jakarta Post reported that, President Susilo Bambang Yudhoyono announced his second United Indonesia Cabinet on Wednesday night, comprising 34 m ...
Thursday, 22 October 09
PEABODY SET TO TAP ASIAN DEMAND FOR COAL
The Australian reported that, US coal giant Peabody Energy plans to double its Queensland and NSW coal exports in the next five years, as it looks t ...
Wednesday, 21 October 09
INDONESIA POWER FIRM SEEKS TO DEFER COAL SUPPLIES
Reuters reported that, Indonesia's state power firm is negotiating with two coal producers, including a unit of PT Bumi Resources Tbk, to defer a c ...
Wednesday, 21 October 09
MINING REGULATION GENERATES CONFUSION IN INDONESIA
The Jakarta Globe reported that, Mining industry representatives said on Friday they were confused by a recently issued regulation restricting the w ...
Wednesday, 21 October 09
LAW ACCOMMODATES NATIONAL AND INVESTOR INTERESTS
COALspot.com (Indonesia): According to ESDM, the government has issued five Lawson the energy and mineral resources sector. These laws will prioriti ...
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- Ministry of Mines - Canada
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- Metalloyd Limited - United Kingdom
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- Grasim Industreis Ltd - India
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- Vedanta Resources Plc - India
- Toyota Tsusho Corporation, Japan
- Price Waterhouse Coopers - Russia
- Commonwealth Bank - Australia
- Trasteel International SA, Italy
- PetroVietnam Power Coal Import and Supply Company
- Romanian Commodities Exchange
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- Ceylon Electricity Board - Sri Lanka
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- The University of Queensland
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- Georgia Ports Authority, United States
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- New Zealand Coal & Carbon
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- White Energy Company Limited
- Australian Coal Association
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- Power Finance Corporation Ltd., India
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- Kalimantan Lumbung Energi - Indonesia
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- Bulk Trading Sa - Switzerland
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- Planning Commission, India
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- Meenaskhi Energy Private Limited - India
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- London Commodity Brokers - England
- India Bulls Power Limited - India
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- Energy Link Ltd, New Zealand
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- Sarangani Energy Corporation, Philippines
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- CIMB Investment Bank - Malaysia
- Salva Resources Pvt Ltd - India
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- Chamber of Mines of South Africa
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- Eastern Energy - Thailand
- Indonesian Coal Mining Association
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- Standard Chartered Bank - UAE
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- Asia Pacific Energy Resources Ventures Inc, Philippines
- Carbofer General Trading SA - India
- Deloitte Consulting - India
- Kobexindo Tractors - Indoneisa
- Minerals Council of Australia
- Ministry of Transport, Egypt
- Holcim Trading Pte Ltd - Singapore
- Therma Luzon, Inc, Philippines
- Kepco SPC Power Corporation, Philippines
- Singapore Mercantile Exchange
- Sree Jayajothi Cements Limited - India
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- Iligan Light & Power Inc, Philippines
- The Treasury - Australian Government
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- Economic Council, Georgia
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