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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 some new mine areas, the company's president said on Tuesday
Commercial production at a mine at its PT Bharinto Ekatama unit is expected to start at the end of 2010, Somyot Ruchirawat told reporters.
"For production in 2010, we will try to increase from Bharinto, the East Block and PT Trubaindo Coal Mining. It will be a 20-25 percent increase from the 2009 production target," Ruchirawat said.
The company plans to produce 20.5 million tonnes this year.
Indo Tambangraya has received a permit to start development of the East block of coal mines operated by PT Indominco Mandiri.
The company said it was also looking at buying coal mines to increase output, but did not elaborate on a timeframe.
"We are still in talks...It could be anything, whether it's a green-field or existing mine," Ruchirawat said.
The company had a warchest of more than $200 million to fund mining acquisitions, but it also may seek loans, he said.
The company, which is a unit of Thailand's Banpu PCL BANP.BK, expects to sell 20.5 million tonnes of coal this year, up from 17.8 million tonnes in 2008.
Indo Tambangraya sold 4.1 million tonnes of coal in the January to March period this year, down from 4.4 million tonnes in the same period in 2008.
Despite lower sales volume, the coal price the company achieved rose 70 percent to an average of $85 a tonne in the January-March period, up from $50 a tonne in the same period of 2008.
Sales revenue was $347 million in the first quarter of 2009, up 59 percent from $219 million in the same period last year.
Indo Tambangraya has forecast revenue would climb to between $1.33-$1.54 billion this year, compared with $1.32 billion in 2008, on higher production.
Indo Tambangraya owns shares in several Indonesian coal miners including PT Trubaindo Coal Mining, PT Indominco Mandiri, PT Kitadin, PT Jorong Barutama Greston and PT Bharinto Ekatama.
The firm's shares fell 3.72 percent to 18,100 rupiah on Tuesday, while the broader market .JKSE eased 0.2 percent.
Source: http://www.reuters.com/article/rbssEnergyNews/idUSJAK47490420090512
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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
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 ...
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- Miang Besar Coal Terminal - Indonesia
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- Bhushan Steel Limited - India
- Sinarmas Energy and Mining - Indonesia
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- Bangladesh Power Developement Board
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- Iligan Light & Power Inc, Philippines
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- Formosa Plastics Group - Taiwan
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- Ministry of Mines - Canada
- Australian Commodity Traders Exchange
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- Mintek Dendrill Indonesia
- Edison Trading Spa - Italy
- Oldendorff Carriers - Singapore
- Indonesian Coal Mining Association
- Latin American Coal - Colombia
- Kalimantan Lumbung Energi - Indonesia
- Commonwealth Bank - Australia
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- Antam Resourcindo - Indonesia
- Eastern Coal Council - USA
- IHS Mccloskey Coal Group - USA
- Parliament of New Zealand
- Baramulti Group, Indonesia
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- Sojitz Corporation - Japan
- Bahari Cakrawala Sebuku - Indonesia
- Goldman Sachs - Singapore
- LBH Netherlands Bv - Netherlands
- Madhucon Powers Ltd - India
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- Thiess Contractors Indonesia
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- Banpu Public Company Limited - Thailand
- Eastern Energy - Thailand
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- Ambuja Cements Ltd - India
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- Sindya Power Generating Company Private Ltd
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- Electricity Generating Authority of Thailand
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- Indian Energy Exchange, India
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