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Friday, 15 May 09
INDIKA EXPECTS TO INCREASE COAL PRODUCTION BY 12.68% IN 2010 - THE JAKARTA POST
.jpg) 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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Friday, 22 May 09
CHURCHILL DOUBLES INDONESIAN COAL PROJECT RESOURCE ESTIMATE - STEEL GURU
Mining Weekly quoted Churchill Mining as saying that the resource at its East Kutai coal project in Indonesia has more than doubled to 3.18 billion ...
Friday, 22 May 09
INDONESIA`S BUKIT ASAM TO HAVE POWER PLANT IN 2011 - ANTARA
The construction of a power plant in South Sumatra by coal mining company PT Tambang Batubara Bukit Asam will be completed in April 2011.
T ...
Friday, 22 May 09
NOBLE WINS CONTROL OF AUSTRALIA'S GLOUCESTER COAL - BLOOMBERG
Noble Group Ltd., a Hong Kong- based commodity supplier, won control of Australia’s Gloucester Coal Ltd. after last week raising its cash bid ...
Thursday, 21 May 09
FBR STARTS COVERAGE OF SHIPPING SECTOR - REUTERS
Friedman Billings Ramsey began coverage of the shipping industry, saying the sector, which is amidst a deep cyclical downturn, is poised for a recov ...
Thursday, 21 May 09
INDONESIAN COAL PRODUCTION IN Q1 BELOW TARGET - STEEL GURU
Mr Bambang Gatot Ariyono director for coal and mineral development at the Energy and Mineral Resources Ministry said that the coal production in the ...
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- Miang Besar Coal Terminal - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Makarim & Taira - Indonesia
- Ministry of Transport, Egypt
- Cement Manufacturers Association - India
- PetroVietnam Power Coal Import and Supply Company
- Jindal Steel & Power Ltd - India
- Savvy Resources Ltd - HongKong
- Ceylon Electricity Board - Sri Lanka
- AsiaOL BioFuels Corp., Philippines
- Indo Tambangraya Megah - Indonesia
- Kideco Jaya Agung - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Bayan Resources Tbk. - Indonesia
- ICICI Bank Limited - India
- McConnell Dowell - Australia
- VISA Power Limited - India
- PNOC Exploration Corporation - Philippines
- Intertek Mineral Services - Indonesia
- Siam City Cement PLC, Thailand
- Simpson Spence & Young - Indonesia
- Wood Mackenzie - Singapore
- LBH Netherlands Bv - Netherlands
- South Luzon Thermal Energy Corporation
- Attock Cement Pakistan Limited
- Orica Mining Services - Indonesia
- CNBM International Corporation - China
- Neyveli Lignite Corporation Ltd, - India
- Electricity Generating Authority of Thailand
- Power Finance Corporation Ltd., India
- Singapore Mercantile Exchange
- Georgia Ports Authority, United States
- Agrawal Coal Company - India
- Heidelberg Cement - Germany
- Kaltim Prima Coal - Indonesia
- ASAPP Information Group - India
- Carbofer General Trading SA - India
- Kepco SPC Power Corporation, Philippines
- Indian Oil Corporation Limited
- Rio Tinto Coal - Australia
- Jorong Barutama Greston.PT - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- IEA Clean Coal Centre - UK
- Barasentosa Lestari - Indonesia
- Tata Chemicals Ltd - India
- Vizag Seaport Private Limited - India
- European Bulk Services B.V. - Netherlands
- Star Paper Mills Limited - India
- Ind-Barath Power Infra Limited - India
- London Commodity Brokers - England
- Asmin Koalindo Tuhup - Indonesia
- PTC India Limited - India
- Commonwealth Bank - Australia
- Samtan Co., Ltd - South Korea
- Mercator Lines Limited - India
- TeaM Sual Corporation - Philippines
- Australian Coal Association
- GVK Power & Infra Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- New Zealand Coal & Carbon
- Coalindo Energy - Indonesia
- Bukit Makmur.PT - Indonesia
- Trasteel International SA, Italy
- Coal and Oil Company - UAE
- Bharathi Cement Corporation - India
- Binh Thuan Hamico - Vietnam
- GAC Shipping (India) Pvt Ltd
- Dalmia Cement Bharat India
- SMC Global Power, Philippines
- Formosa Plastics Group - Taiwan
- Aboitiz Power Corporation - Philippines
- Anglo American - United Kingdom
- Vijayanagar Sugar Pvt Ltd - India
- Mjunction Services Limited - India
- Timah Investasi Mineral - Indoneisa
- OPG Power Generation Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Parry Sugars Refinery, India
- Bhatia International Limited - India
- Global Green Power PLC Corporation, Philippines
- Essar Steel Hazira Ltd - India
- Economic Council, Georgia
- Meralco Power Generation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Semirara Mining Corp, Philippines
- Videocon Industries ltd - India
- San Jose City I Power Corp, Philippines
- Latin American Coal - Colombia
- Meenaskhi Energy Private Limited - India
- Manunggal Multi Energi - Indonesia
- Ministry of Finance - Indonesia
- SN Aboitiz Power Inc, Philippines
- Lanco Infratech Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Indian Energy Exchange, India
- GMR Energy Limited - India
- Jaiprakash Power Ventures ltd
- Kalimantan Lumbung Energi - Indonesia
- Independent Power Producers Association of India
- Kumho Petrochemical, South Korea
- White Energy Company Limited
- Chamber of Mines of South Africa
- Karaikal Port Pvt Ltd - India
- Mintek Dendrill Indonesia
- Marubeni Corporation - India
- Salva Resources Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- Romanian Commodities Exchange
- Indonesian Coal Mining Association
- Pipit Mutiara Jaya. PT, Indonesia
- The State Trading Corporation of India Ltd
- Straits Asia Resources Limited - Singapore
- Gujarat Electricity Regulatory Commission - India
- Petron Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Iligan Light & Power Inc, Philippines
- Eastern Coal Council - USA
- Bank of Tokyo Mitsubishi UFJ Ltd
- Gujarat Sidhee Cement - India
- Planning Commission, India
- Orica Australia Pty. Ltd.
- Siam City Cement - Thailand
- Billiton Holdings Pty Ltd - Australia
- Interocean Group of Companies - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Karbindo Abesyapradhi - Indoneisa
- Baramulti Group, Indonesia
- Uttam Galva Steels Limited - India
- SMG Consultants - Indonesia
- Wilmar Investment Holdings
- Altura Mining Limited, Indonesia
- Madhucon Powers Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Directorate Of Revenue Intelligence - India
- Global Business Power Corporation, Philippines
- The University of Queensland
- Therma Luzon, Inc, Philippines
- Indika Energy - Indonesia
- CIMB Investment Bank - Malaysia
- Minerals Council of Australia
- Price Waterhouse Coopers - Russia
- Vedanta Resources Plc - India
- Sindya Power Generating Company Private Ltd
- Metalloyd Limited - United Kingdom
- Electricity Authority, New Zealand
- Kohat Cement Company Ltd. - Pakistan
- Tamil Nadu electricity Board
- PowerSource Philippines DevCo
- Xindia Steels Limited - India
- Central Java Power - Indonesia
- Africa Commodities Group - South Africa
- Global Coal Blending Company Limited - Australia
- Bulk Trading Sa - Switzerland
- International Coal Ventures Pvt Ltd - India
- Thai Mozambique Logistica
- Banpu Public Company Limited - Thailand
- Maheswari Brothers Coal Limited - India
- Sakthi Sugars Limited - India
- Bhushan Steel Limited - India
- Edison Trading Spa - Italy
- Maharashtra Electricity Regulatory Commission - India
- Indogreen Group - Indonesia
- India Bulls Power Limited - India
- Aditya Birla Group - India
- Mercuria Energy - Indonesia
- Bukit Baiduri Energy - Indonesia
- Globalindo Alam Lestari - Indonesia
- Oldendorff Carriers - Singapore
- Sojitz Corporation - Japan
- Sarangani Energy Corporation, Philippines
- Ministry of Mines - Canada
- Posco Energy - South Korea
- Chettinad Cement Corporation Ltd - India
- Parliament of New Zealand
- GN Power Mariveles Coal Plant, Philippines
- Thiess Contractors Indonesia
- Krishnapatnam Port Company Ltd. - India
- Cigading International Bulk Terminal - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Central Electricity Authority - India
- Goldman Sachs - Singapore
- Toyota Tsusho Corporation, Japan
- Energy Link Ltd, New Zealand
- Riau Bara Harum - Indonesia
- Energy Development Corp, Philippines
- Coastal Gujarat Power Limited - India
- Merrill Lynch Commodities Europe
- Kobexindo Tractors - Indoneisa
- The Treasury - Australian Government
- Medco Energi Mining Internasional
- MS Steel International - UAE
- Eastern Energy - Thailand
- Pendopo Energi Batubara - Indonesia
- Larsen & Toubro Limited - India
- Australian Commodity Traders Exchange
- Standard Chartered Bank - UAE
- Antam Resourcindo - Indonesia
- Borneo Indobara - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Bangladesh Power Developement Board
- Grasim Industreis Ltd - India
- Ambuja Cements Ltd - India
- Sical Logistics Limited - India
- Bhoruka Overseas - Indonesia
- Sree Jayajothi Cements Limited - India
- Renaissance Capital - South Africa
- Deloitte Consulting - India
- Sinarmas Energy and Mining - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Malabar Cements Ltd - India
- Port Waratah Coal Services - Australia
- Bukit Asam (Persero) Tbk - Indonesia
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