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Tuesday, 12 May 09
INDIKA EXPECTS TO INCREASE COAL PRODUCTION BY 12.68% IN 2010 - THE JAKARTA POST
 Energy and infrastructure company PT Indika Energy, the parent company of Indonesia's third largest coal producer PT Kideco Jaya Agung, expects its coal production to grow by 12.68 percent next year.
Indika plans to produce as much as 28 million tons of coal in 2010, up from 24.85 million tons targeted this year, chief financial officer Azis Armand told reporters Monday.
He said the production increase would come both from Kideco and from mining company PT Petrosea, which is in the process of acquisition by Indika. Azis said Kideco was expected to produce as much as 26 million tons of coal in 2010, up from 24 million tons of coal production targeted this year.
Indika owns 46 percent of Kideco, a holder of a first-generation Coal Contract of Work, locally known as PKP2B, valid through to 2023. Kideco owns 50,400 hectares of coal concessions in East Kalimantan. It produced 22 million tons of coal in 2008.
Azis said that Indika also expected to start receiving as much as 850,000 tons of additional coal from Petrosea's subsidiary PT Santan Batubara this year. Production is expected to increase to two million tons in 2010, he added.
On April 14, Indika signed a Conditional Sale and Purchase Agreement (CSPA) to acquire a 81.95 percent stake in Petrosea from its majority shareholder Clough International Singapore Pte Ltd for US$83.8 million.
"Close of transaction *for the acquisition* is targeted for early June."
In December last year, Indika also acquired coal mining rights to 13 sites, locally known as KP, in Melawi, West Kalimantan. These KPs have a total concession area of 53,000 hectares in total with coal reserves estimated at 150 million tons.
Arsjad Rasjid, Indika's president director, said ten of the KPs are already at the exploration stage and the remaining three are at the pre-survey stage. "We expect the KPs to start initial production in 2012."
Azis said Indika spent US$18.5 million on the acquisition of the KPs. He added the development cost of the mines was estimated at $100 million over three years.
"This year, we aim to spend about $10 million on the KPs," Azis said.
According to Azis, Indika's total capital expenditure for this year was forecast to reach between $50 million and $55 million.
He added that outside this capital expenditure, Indika still had between $250 million and $300 million of cash reserves available.
"We still have available cash. Therefore, we will evaluate whether we still need other acquisitions or not," Azis said.
source: http://www.thejakartapost.com/news/2009/05/12/indika-expects-increase-coal-production-1268-2010.html
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Wednesday, 13 May 09
COAL SUPPLY MAY BE VASTLY OVERESTIMATED - ABC SCIENCE
The world's coal supply suggests reserves may be vastly overestimated and we could be facing an unprecedented global energy crisis, according to a ...
Wednesday, 13 May 09
INDONESIA ADARO NET PROFIT, REVENUE TO RISE IN 2009 - REUTERS
INDONESIA's largest coal producer by market value, PT Adaro Energy Tbk, expects double-digit growth in revenue and net profit this year, an officia ...
Wednesday, 13 May 09
ALPHA TO BUY RIVAL, CREATING NEW US COAL HEAVYWEIGHT - MININGWEEKLY.COM
Alpha Natural Resources, the biggest supplier of metallurgical coal in the US, has agreed to buy Maryland-based rival Foundation Coal for about $1,4 ...
Tuesday, 12 May 09
CHINA MINERS CUT COAL PRICE OFFER TO JAPAN UTILITIES - ALIBABA.COM
* Producers cut offer to $75.50 a tonne from over $80
* Negotiations may conclude soon as price gap narrows
* New offer at discount of about 43 pe ...
Tuesday, 12 May 09
INDO TAMBANGRAYA SEES 2010 COAL OUTPUT UP 25 PCT - REUTERS
Indonesian coal miner, PT Indo Tambangraya Megah (ITMG.JK), expects coal output to increase by up to 25 percent next year as production kicks in at ...
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- Bukit Asam (Persero) Tbk - Indonesia
- Energy Development Corp, Philippines
- Sinarmas Energy and Mining - Indonesia
- Samtan Co., Ltd - South Korea
- Gujarat Mineral Development Corp Ltd - India
- Petron Corporation, Philippines
- Aditya Birla Group - India
- Ambuja Cements Ltd - India
- Coastal Gujarat Power Limited - India
- Trasteel International SA, Italy
- Port Waratah Coal Services - Australia
- Indo Tambangraya Megah - Indonesia
- Bhatia International Limited - India
- Mercator Lines Limited - India
- Romanian Commodities Exchange
- Kohat Cement Company Ltd. - Pakistan
- Krishnapatnam Port Company Ltd. - India
- Australian Coal Association
- Carbofer General Trading SA - India
- The Treasury - Australian Government
- Vizag Seaport Private Limited - India
- SMC Global Power, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Singapore Mercantile Exchange
- Edison Trading Spa - Italy
- Planning Commission, India
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- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Minerals Council of Australia
- Deloitte Consulting - India
- Oldendorff Carriers - Singapore
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- Malabar Cements Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Kideco Jaya Agung - Indonesia
- PowerSource Philippines DevCo
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- European Bulk Services B.V. - Netherlands
- Kapuas Tunggal Persada - Indonesia
- Thai Mozambique Logistica
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sojitz Corporation - Japan
- Kaltim Prima Coal - Indonesia
- Siam City Cement PLC, Thailand
- Commonwealth Bank - Australia
- Orica Australia Pty. Ltd.
- New Zealand Coal & Carbon
- GVK Power & Infra Limited - India
- Indian Oil Corporation Limited
- Economic Council, Georgia
- Intertek Mineral Services - Indonesia
- Latin American Coal - Colombia
- SMG Consultants - Indonesia
- Indogreen Group - Indonesia
- Madhucon Powers Ltd - India
- Ministry of Mines - Canada
- Billiton Holdings Pty Ltd - Australia
- Electricity Generating Authority of Thailand
- Standard Chartered Bank - UAE
- Xindia Steels Limited - India
- Wood Mackenzie - Singapore
- Renaissance Capital - South Africa
- Kalimantan Lumbung Energi - Indonesia
- Energy Link Ltd, New Zealand
- Bayan Resources Tbk. - Indonesia
- Australian Commodity Traders Exchange
- Barasentosa Lestari - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- India Bulls Power Limited - India
- The State Trading Corporation of India Ltd
- Kepco SPC Power Corporation, Philippines
- Orica Mining Services - Indonesia
- Marubeni Corporation - India
- Larsen & Toubro Limited - India
- Metalloyd Limited - United Kingdom
- OPG Power Generation Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Bulk Trading Sa - Switzerland
- Karaikal Port Pvt Ltd - India
- International Coal Ventures Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Globalindo Alam Lestari - Indonesia
- Antam Resourcindo - Indonesia
- Simpson Spence & Young - Indonesia
- Rio Tinto Coal - Australia
- Maharashtra Electricity Regulatory Commission - India
- Leighton Contractors Pty Ltd - Australia
- Lanco Infratech Ltd - India
- Heidelberg Cement - Germany
- Petrochimia International Co. Ltd.- Taiwan
- Sarangani Energy Corporation, Philippines
- Eastern Energy - Thailand
- Parliament of New Zealand
- Merrill Lynch Commodities Europe
- Price Waterhouse Coopers - Russia
- Borneo Indobara - Indonesia
- Formosa Plastics Group - Taiwan
- Riau Bara Harum - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- ICICI Bank Limited - India
- Attock Cement Pakistan Limited
- Semirara Mining Corp, Philippines
- Indian Energy Exchange, India
- The University of Queensland
- LBH Netherlands Bv - Netherlands
- Alfred C Toepfer International GmbH - Germany
- Posco Energy - South Korea
- Global Coal Blending Company Limited - Australia
- Iligan Light & Power Inc, Philippines
- Power Finance Corporation Ltd., India
- Videocon Industries ltd - India
- Kobexindo Tractors - Indoneisa
- CIMB Investment Bank - Malaysia
- Coalindo Energy - Indonesia
- Cement Manufacturers Association - India
- London Commodity Brokers - England
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bukit Makmur.PT - Indonesia
- Ministry of Finance - Indonesia
- IHS Mccloskey Coal Group - USA
- Thiess Contractors Indonesia
- ASAPP Information Group - India
- Aboitiz Power Corporation - Philippines
- Medco Energi Mining Internasional
- Vedanta Resources Plc - India
- Rashtriya Ispat Nigam Limited - India
- Global Green Power PLC Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- McConnell Dowell - Australia
- Bhoruka Overseas - Indonesia
- Binh Thuan Hamico - Vietnam
- PNOC Exploration Corporation - Philippines
- Maheswari Brothers Coal Limited - India
- Independent Power Producers Association of India
- Georgia Ports Authority, United States
- Siam City Cement - Thailand
- GAC Shipping (India) Pvt Ltd
- Manunggal Multi Energi - Indonesia
- Indika Energy - Indonesia
- CNBM International Corporation - China
- Asmin Koalindo Tuhup - Indonesia
- Toyota Tsusho Corporation, Japan
- TeaM Sual Corporation - Philippines
- Directorate General of MIneral and Coal - Indonesia
- Dalmia Cement Bharat India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
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- Holcim Trading Pte Ltd - Singapore
- Meralco Power Generation, Philippines
- White Energy Company Limited
- Star Paper Mills Limited - India
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- VISA Power Limited - India
- Central Electricity Authority - India
- Therma Luzon, Inc, Philippines
- Sakthi Sugars Limited - India
- Sindya Power Generating Company Private Ltd
- Banpu Public Company Limited - Thailand
- Jindal Steel & Power Ltd - India
- Mercuria Energy - Indonesia
- Interocean Group of Companies - India
- Chamber of Mines of South Africa
- Parry Sugars Refinery, India
- Straits Asia Resources Limited - Singapore
- Ceylon Electricity Board - Sri Lanka
- TNB Fuel Sdn Bhd - Malaysia
- Global Business Power Corporation, Philippines
- Africa Commodities Group - South Africa
- Meenaskhi Energy Private Limited - India
- Kumho Petrochemical, South Korea
- Kartika Selabumi Mining - Indonesia
- Makarim & Taira - Indonesia
- Uttam Galva Steels Limited - India
- Bangladesh Power Developement Board
- Directorate Of Revenue Intelligence - India
- Electricity Authority, New Zealand
- Ministry of Transport, Egypt
- Sical Logistics Limited - India
- Indonesian Coal Mining Association
- Goldman Sachs - Singapore
- AsiaOL BioFuels Corp., Philippines
- IEA Clean Coal Centre - UK
- Baramulti Group, Indonesia
- Miang Besar Coal Terminal - Indonesia
- Tata Chemicals Ltd - India
- South Luzon Thermal Energy Corporation
- Bukit Baiduri Energy - Indonesia
- Mintek Dendrill Indonesia
- Semirara Mining and Power Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- Agrawal Coal Company - India
- Sree Jayajothi Cements Limited - India
- Timah Investasi Mineral - Indoneisa
- Mjunction Services Limited - India
- Salva Resources Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Anglo American - United Kingdom
- GMR Energy Limited - India
- Essar Steel Hazira Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Central Java Power - Indonesia
- Pendopo Energi Batubara - Indonesia
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- Savvy Resources Ltd - HongKong
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- Tamil Nadu electricity Board
- Eastern Coal Council - USA
- Gujarat Sidhee Cement - India
- PTC India Limited - India
- Ind-Barath Power Infra Limited - India
- Chettinad Cement Corporation Ltd - India
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