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Friday, 20 August 10
OVERSEAS AND GENERAL SUBSIDIARY INKS US$52M JONGKANG COAL SALES CONTRACT - PROACTIVE INVESTORS
 Proactive Investors reported that, overseas and General (ASX: OGL) has reported that its Indonesian majority owned subsidiary, PT OGL Indotrade, has entered into a binding offer for the sale of its premium quality Jongkang coal with a Chinese power utility.
This is a final step prior to executing a sales contract for the supply of 50,000 tonnes per month commencing September 2010 at an FOB vessel price of U$80 per tonne for 6,300 cal/kg GCV coal.
Jack Tan, chairman, said the coal sales will provide OGL Indotrade with a revenue stream of $52 million per annum and has the capacity to transform OGL into a successful coal player.
Bonuses and penalties exist for any variation of coal quality. Following the successful delivery of a 40,000 tonne trial cargo, the contract will have a 12-month term.
The Jongkang Coal Mine is located near Tenggarong in East Kalimantan, Indonesia. The lease is a 94-hectare IUP Exploitation with all permits in order for immediate mine operations.
Jongkang’s 25,000 tonnes per month product will be complemented by the purchase of coal from a neighbouring supplier, to allow the company to sell 50,000 tonnes per month from September 2010.
The resultant operation will provide the company with revenues of U$4.0 million per month or U$52 million per annum.
Jongkang coal is a premium product with adb GCV 6950 cal/g, 2% ash and 0.7% sulphur. It will be blended down to GCV 6300 to meet the required Chinese specifications, commanding a strong sales price.
OGL's joint venture arrangement in Indonesia is with Malaysian owned group, Golden Focus Group Limited (Hong Kong) and their Indonesian entity, PT Indotrade Resources, which is a successful coal miner in Indonesia producing around 2mtpa of export grade steaming coal from East Kalimantan to China and Korea.
PT OGL Indotrade Resources has rights to mine and sell coal from the Rahmat, Jongkang, Pagar and Jambi coal tenements.
OGL aims to become a medium sized producer of metallurgical and steaming coal in Australia and Indonesia, both major coal producing nations.
Source: Proactive Investors
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Wednesday, 25 August 10
BUKIT ASAM OUT TO BECOME BIGGEST COAL PRODUCER
The Jakarta Post reported that, State-owned PT Batubara Bukit Asam Tbk intends to become the country's biggest coal producer in 2016 with productio ...
Wednesday, 25 August 10
GOVT SHOULD ALLOW DUTY-FREE IMPORT OF THERMAL COAL: ASSOCHAM
Industry body Assocham Wednesday said the government should allow duty free import of thermal coal to bring down power tariffs in the country.
&q ...
Wednesday, 25 August 10
INDIAS ADANI GROUP TO BUILD COAL RAILWAY IN INDONESIA
COALspot.com: India’s Adani Group, Indonesia’s state coal producer PT Tambang Batubara Bukit Asam (PTBA), and the South Sumatra provinci ...
Wednesday, 25 August 10
CME GROUP WILL LAUNCH NEW COAL CONTRACTS
Press Release: CME Group, the world’s leading and most diverse derivatives marketplace, today announced the launch of trading and clearing ser ...
Tuesday, 24 August 10
INDIA IMPORTS 1.3 MILLION TONS COAL LAST WEEK
COALspot.com: India has imported 1.3 million tons of non - Coking coal and 468,229 Mt of coking coal for the period 16 - 22 August 2010 ...
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- Toyota Tsusho Corporation, Japan
- Bharathi Cement Corporation - India
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- Coal and Oil Company - UAE
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- Kumho Petrochemical, South Korea
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- The State Trading Corporation of India Ltd
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- India Bulls Power Limited - India
- Alfred C Toepfer International GmbH - Germany
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- Semirara Mining Corp, Philippines
- Edison Trading Spa - Italy
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- Power Finance Corporation Ltd., India
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- AsiaOL BioFuels Corp., Philippines
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- Africa Commodities Group - South Africa
- GN Power Mariveles Coal Plant, Philippines
- European Bulk Services B.V. - Netherlands
- Mintek Dendrill Indonesia
- Ambuja Cements Ltd - India
- Australian Coal Association
- Medco Energi Mining Internasional
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- Timah Investasi Mineral - Indoneisa
- Rashtriya Ispat Nigam Limited - India
- Indo Tambangraya Megah - Indonesia
- Eastern Energy - Thailand
- Gujarat Electricity Regulatory Commission - India
- Simpson Spence & Young - Indonesia
- Lanco Infratech Ltd - India
- Straits Asia Resources Limited - Singapore
- Ministry of Mines - Canada
- CIMB Investment Bank - Malaysia
- VISA Power Limited - India
- Port Waratah Coal Services - Australia
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- Gujarat Sidhee Cement - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Vijayanagar Sugar Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Semirara Mining and Power Corporation, Philippines
- Bangladesh Power Developement Board
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- Intertek Mineral Services - Indonesia
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- Eastern Coal Council - USA
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- Indonesian Coal Mining Association
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- Global Coal Blending Company Limited - Australia
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- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Holcim Trading Pte Ltd - Singapore
- Energy Development Corp, Philippines
- PowerSource Philippines DevCo
- TNB Fuel Sdn Bhd - Malaysia
- Coalindo Energy - Indonesia
- Planning Commission, India
- Deloitte Consulting - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Thai Mozambique Logistica
- GVK Power & Infra Limited - India
- South Luzon Thermal Energy Corporation
- Riau Bara Harum - Indonesia
- Commonwealth Bank - Australia
- Indian Energy Exchange, India
- Kepco SPC Power Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Chettinad Cement Corporation Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Wood Mackenzie - Singapore
- TeaM Sual Corporation - Philippines
- Orica Mining Services - Indonesia
- Bhoruka Overseas - Indonesia
- Global Green Power PLC Corporation, Philippines
- Economic Council, Georgia
- Singapore Mercantile Exchange
- Miang Besar Coal Terminal - Indonesia
- Ind-Barath Power Infra Limited - India
- Sree Jayajothi Cements Limited - India
- CNBM International Corporation - China
- Banpu Public Company Limited - Thailand
- London Commodity Brokers - England
- Siam City Cement - Thailand
- SN Aboitiz Power Inc, Philippines
- Manunggal Multi Energi - Indonesia
- Sindya Power Generating Company Private Ltd
- Wilmar Investment Holdings
- LBH Netherlands Bv - Netherlands
- Jaiprakash Power Ventures ltd
- McConnell Dowell - Australia
- IEA Clean Coal Centre - UK
- Aditya Birla Group - India
- Asmin Koalindo Tuhup - Indonesia
- Savvy Resources Ltd - HongKong
- Karbindo Abesyapradhi - Indoneisa
- Sarangani Energy Corporation, Philippines
- Siam City Cement PLC, Thailand
- Bayan Resources Tbk. - Indonesia
- Merrill Lynch Commodities Europe
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- Samtan Co., Ltd - South Korea
- Kapuas Tunggal Persada - Indonesia
- Barasentosa Lestari - Indonesia
- Ministry of Transport, Egypt
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- Larsen & Toubro Limited - India
- Meenaskhi Energy Private Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Interocean Group of Companies - India
- SMC Global Power, Philippines
- Cement Manufacturers Association - India
- Posco Energy - South Korea
- Parliament of New Zealand
- Coastal Gujarat Power Limited - India
- Karaikal Port Pvt Ltd - India
- Borneo Indobara - Indonesia
- White Energy Company Limited
- The Treasury - Australian Government
- Renaissance Capital - South Africa
- Baramulti Group, Indonesia
- The University of Queensland
- Bhatia International Limited - India
- Price Waterhouse Coopers - Russia
- Videocon Industries ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Therma Luzon, Inc, Philippines
- Jorong Barutama Greston.PT - Indonesia
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- Romanian Commodities Exchange
- International Coal Ventures Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- Sical Logistics Limited - India
- Energy Link Ltd, New Zealand
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- Independent Power Producers Association of India
- Star Paper Mills Limited - India
- Salva Resources Pvt Ltd - India
- MS Steel International - UAE
- Tamil Nadu electricity Board
- Bulk Trading Sa - Switzerland
- Chamber of Mines of South Africa
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- Carbofer General Trading SA - India
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- IHS Mccloskey Coal Group - USA
- Makarim & Taira - Indonesia
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- PTC India Limited - India
- Antam Resourcindo - Indonesia
- Mercuria Energy - Indonesia
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- Petron Corporation, Philippines
- Thiess Contractors Indonesia
- PNOC Exploration Corporation - Philippines
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- Pendopo Energi Batubara - Indonesia
- Metalloyd Limited - United Kingdom
- Xindia Steels Limited - India
- Aboitiz Power Corporation - Philippines
- Latin American Coal - Colombia
- Parry Sugars Refinery, India
- Formosa Plastics Group - Taiwan
- Standard Chartered Bank - UAE
- GAC Shipping (India) Pvt Ltd
- Minerals Council of Australia
- SMG Consultants - Indonesia
- Directorate Of Revenue Intelligence - India
- Australian Commodity Traders Exchange
- Sojitz Corporation - Japan
- Essar Steel Hazira Ltd - India
- Kartika Selabumi Mining - Indonesia
- Kobexindo Tractors - Indoneisa
- Binh Thuan Hamico - Vietnam
- Mjunction Services Limited - India
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