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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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- Independent Power Producers Association of India
- Barasentosa Lestari - Indonesia
- Rio Tinto Coal - Australia
- Central Electricity Authority - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Jorong Barutama Greston.PT - Indonesia
- Sical Logistics Limited - India
- Ceylon Electricity Board - Sri Lanka
- GVK Power & Infra Limited - India
- Bhatia International Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Carbofer General Trading SA - India
- Antam Resourcindo - Indonesia
- Cement Manufacturers Association - India
- Deloitte Consulting - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bukit Baiduri Energy - Indonesia
- Aditya Birla Group - India
- The State Trading Corporation of India Ltd
- Asmin Koalindo Tuhup - Indonesia
- Energy Development Corp, Philippines
- Leighton Contractors Pty Ltd - Australia
- Bangladesh Power Developement Board
- Directorate General of MIneral and Coal - Indonesia
- Banpu Public Company Limited - Thailand
- CIMB Investment Bank - Malaysia
- Marubeni Corporation - India
- Binh Thuan Hamico - Vietnam
- SN Aboitiz Power Inc, Philippines
- Globalindo Alam Lestari - Indonesia
- CNBM International Corporation - China
- Pendopo Energi Batubara - Indonesia
- Bukit Makmur.PT - Indonesia
- Siam City Cement - Thailand
- Indika Energy - Indonesia
- Georgia Ports Authority, United States
- Sarangani Energy Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- Grasim Industreis Ltd - India
- Attock Cement Pakistan Limited
- Oldendorff Carriers - Singapore
- ASAPP Information Group - India
- Gujarat Sidhee Cement - India
- Price Waterhouse Coopers - Russia
- TeaM Sual Corporation - Philippines
- Cigading International Bulk Terminal - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Kideco Jaya Agung - Indonesia
- White Energy Company Limited
- Rashtriya Ispat Nigam Limited - India
- Karaikal Port Pvt Ltd - India
- Mjunction Services Limited - India
- MS Steel International - UAE
- Bulk Trading Sa - Switzerland
- IHS Mccloskey Coal Group - USA
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kartika Selabumi Mining - Indonesia
- Chamber of Mines of South Africa
- Baramulti Group, Indonesia
- Gujarat Electricity Regulatory Commission - India
- Planning Commission, India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Economic Council, Georgia
- Jaiprakash Power Ventures ltd
- Ministry of Transport, Egypt
- Heidelberg Cement - Germany
- Kepco SPC Power Corporation, Philippines
- Petron Corporation, Philippines
- Electricity Authority, New Zealand
- GN Power Mariveles Coal Plant, Philippines
- Therma Luzon, Inc, Philippines
- Orica Australia Pty. Ltd.
- Intertek Mineral Services - Indonesia
- Minerals Council of Australia
- Gujarat Mineral Development Corp Ltd - India
- VISA Power Limited - India
- PowerSource Philippines DevCo
- Vizag Seaport Private Limited - India
- Sojitz Corporation - Japan
- Thai Mozambique Logistica
- Bukit Asam (Persero) Tbk - Indonesia
- Billiton Holdings Pty Ltd - Australia
- India Bulls Power Limited - India
- South Luzon Thermal Energy Corporation
- ICICI Bank Limited - India
- AsiaOL BioFuels Corp., Philippines
- Indonesian Coal Mining Association
- Meralco Power Generation, Philippines
- Ambuja Cements Ltd - India
- Krishnapatnam Port Company Ltd. - India
- PTC India Limited - India
- San Jose City I Power Corp, Philippines
- Holcim Trading Pte Ltd - Singapore
- Sakthi Sugars Limited - India
- Bhoruka Overseas - Indonesia
- Straits Asia Resources Limited - Singapore
- Edison Trading Spa - Italy
- Altura Mining Limited, Indonesia
- Indian Oil Corporation Limited
- Parliament of New Zealand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kaltim Prima Coal - Indonesia
- Posco Energy - South Korea
- Sindya Power Generating Company Private Ltd
- Wood Mackenzie - Singapore
- Kumho Petrochemical, South Korea
- TNB Fuel Sdn Bhd - Malaysia
- Aboitiz Power Corporation - Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Merrill Lynch Commodities Europe
- Central Java Power - Indonesia
- Tata Chemicals Ltd - India
- Wilmar Investment Holdings
- Semirara Mining Corp, Philippines
- New Zealand Coal & Carbon
- Kapuas Tunggal Persada - Indonesia
- Formosa Plastics Group - Taiwan
- Larsen & Toubro Limited - India
- Tamil Nadu electricity Board
- The Treasury - Australian Government
- Kobexindo Tractors - Indoneisa
- LBH Netherlands Bv - Netherlands
- Port Waratah Coal Services - Australia
- European Bulk Services B.V. - Netherlands
- Timah Investasi Mineral - Indoneisa
- Mintek Dendrill Indonesia
- Semirara Mining and Power Corporation, Philippines
- Africa Commodities Group - South Africa
- OPG Power Generation Pvt Ltd - India
- Standard Chartered Bank - UAE
- Xindia Steels Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Coastal Gujarat Power Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Romanian Commodities Exchange
- Medco Energi Mining Internasional
- Renaissance Capital - South Africa
- Salva Resources Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Agrawal Coal Company - India
- Siam City Cement PLC, Thailand
- Ministry of Mines - Canada
- Ind-Barath Power Infra Limited - India
- McConnell Dowell - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- Parry Sugars Refinery, India
- Interocean Group of Companies - India
- Jindal Steel & Power Ltd - India
- Power Finance Corporation Ltd., India
- Australian Commodity Traders Exchange
- International Coal Ventures Pvt Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Lanco Infratech Ltd - India
- Maheswari Brothers Coal Limited - India
- Dalmia Cement Bharat India
- Ministry of Finance - Indonesia
- Manunggal Multi Energi - Indonesia
- Iligan Light & Power Inc, Philippines
- Directorate Of Revenue Intelligence - India
- Orica Mining Services - Indonesia
- Madhucon Powers Ltd - India
- Energy Link Ltd, New Zealand
- SMG Consultants - Indonesia
- Malabar Cements Ltd - India
- Thiess Contractors Indonesia
- Global Green Power PLC Corporation, Philippines
- Simpson Spence & Young - Indonesia
- GAC Shipping (India) Pvt Ltd
- Electricity Generating Authority of Thailand
- Neyveli Lignite Corporation Ltd, - India
- Bayan Resources Tbk. - Indonesia
- Videocon Industries ltd - India
- Sree Jayajothi Cements Limited - India
- The University of Queensland
- Coalindo Energy - Indonesia
- Indo Tambangraya Megah - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Miang Besar Coal Terminal - Indonesia
- PNOC Exploration Corporation - Philippines
- London Commodity Brokers - England
- Metalloyd Limited - United Kingdom
- Eastern Energy - Thailand
- Bahari Cakrawala Sebuku - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Goldman Sachs - Singapore
- Uttam Galva Steels Limited - India
- Star Paper Mills Limited - India
- Borneo Indobara - Indonesia
- IEA Clean Coal Centre - UK
- Australian Coal Association
- Latin American Coal - Colombia
- Vedanta Resources Plc - India
- Kohat Cement Company Ltd. - Pakistan
- Mercuria Energy - Indonesia
- Indian Energy Exchange, India
- Essar Steel Hazira Ltd - India
- SMC Global Power, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Eastern Coal Council - USA
- Global Business Power Corporation, Philippines
- Bharathi Cement Corporation - India
- Indogreen Group - Indonesia
- GMR Energy Limited - India
- Coal and Oil Company - UAE
- Mercator Lines Limited - India
- Savvy Resources Ltd - HongKong
- Samtan Co., Ltd - South Korea
- Bhushan Steel Limited - India
- Makarim & Taira - Indonesia
- Meenaskhi Energy Private Limited - India
- Riau Bara Harum - Indonesia
- Chettinad Cement Corporation Ltd - India
- Singapore Mercantile Exchange
- Trasteel International SA, Italy
- Anglo American - United Kingdom
- Commonwealth Bank - Australia
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