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Wednesday, 25 May 11
70 PERCENT OF HARUMS PRODUCTION SOLD - BISNIS INDONESIA
 Coal producer PT Harum Energy Tbk claimed that out of this year's total production target of 10 million tons, 70% or 7 million tons had been sold, reports Bisnis Indonesia, an Indonesian news paper.
Managing Director of Harum Energy, Ray Antonio Gunara, said the company plans to gradually increase production capacity to 10 million tons this year from 7.4 million tons the previous year. As for next year, the target is to reach 14 million tons.
"Out of the total target of 10 million tons this year, 70% has already been contracted. The price cannot yet be determined because it is set per quarter and dependent on index," he said yesterday.
The company might revise its production target upwards if exploration results indicate higher reserve potential.
"For PT Tambang Batubara Harum (TBH), we expect it to enter production phase before the end of this year. We are still in the construction phase and there are administrative permits that need to be cleared. This year’s production is expected to reach 500,000 tons but it depends on the operation commencement," he explained.
Ray is hoping for a slightly higher sales volume than the production target this year. Last year sales reached 8.3 million tons. "We expect sales and bottom line improvement to equal the rate in the first quarter 2011."
This year, the budgeted capital expenditure is US$ 30 million, among others to be used for road hardening to improve transport quality, the construction of a new coal crusher unit, construction of port facilities at TBH, and increasing the number of tugs and barges fleet.
"The additional expenses will likely be funded from internal sources as the amount is not expected to be large," added Ray.
Up to 31 March 2011, the company recorded revenues of Rp 1,51 trillion or up by 69% from same period 2010 of Rp895 billion.
Net income allocated to entity holders is reported increase by 131% to Rp309 billion compared to same period last year Rp134 billion.
Growth in revenue and net income was primarily due to higher average coal selling price and increase of coal sales volume. Combined sales volume of coal from PT Mahakam Sumber Jaya and PT Santan Batubara reached 2.3 million tons in the first quarter of this year, up from 2.1 million tons in the same period of 2010.
The company’s average selling price of coal was US$88 per ton throughout the 1st Q of 2011 or an increase of 36% compared to same period in 2010 due to the rising trend in global coal prices.
"The average price is expected to increase compared to the achievement in the 1st Q of 2011. The average price of the 1st Q of 2011 was actually a carryover of 2010 contracts.
It is expected that the carryover in the 2nd Q of 2011 could be less, so that the average price could be better.
Source: Bisnis Indonesia
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Tuesday, 23 August 11
COAL DEMAND IS REMAINED STRONG IN SPITE OF CURRENT GLOBAL ECONOMIC UNCERTAINTY - BUMI
COALspot.com - Indonesia's largest coal producer, PT Bumi Resources, Tbk (BUMI)'s sales revenue has increased to US$1.79 billion (compared with US ...
Tuesday, 23 August 11
PENRHYN COAL USING EVERGREEN ENERGYS COAL UPGRADING PROCESS
Evergreen Energy Inc has announced the successful testing results of the initial batches of Penrhyn coal using Evergreen Energy’s coal upgradi ...
Tuesday, 23 August 11
A SHARP INCREASE IN THE BDI - BRS
A sharp increase in the BDI this week, driven by the rise in Capesize rates. Overall the BDI was up 13.5% to 1,462 points on the back of a 20% surge ...
Monday, 22 August 11
INDONESIA TO BAN BELOW 5700 KCAL/KG COAL FOR EXPORT
COALspot.com - Ministry of Energy and Mineral Resources of Indonesia is in the process of drafting a regulation which is requiring mine owners ...
Monday, 22 August 11
JATENERGY AGREED TO FORM JV WITH AN INDONESIAN COAL MINING COMPANY
COALspot.com - Australian’s listed company, Jatenergy Limited has entered conditional agreement to form joint venture with Indonesia’s c ...
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- Asia Pacific Energy Resources Ventures Inc, Philippines
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- Economic Council, Georgia
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- Australian Commodity Traders Exchange
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- Gujarat Mineral Development Corp Ltd - India
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- IEA Clean Coal Centre - UK
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- Kalimantan Lumbung Energi - Indonesia
- Planning Commission, India
- Renaissance Capital - South Africa
- Rio Tinto Coal - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Billiton Holdings Pty Ltd - Australia
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- Sojitz Corporation - Japan
- Trasteel International SA, Italy
- Maheswari Brothers Coal Limited - India
- Anglo American - United Kingdom
- Vizag Seaport Private Limited - India
- Siam City Cement PLC, Thailand
- Indian Oil Corporation Limited
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- Commonwealth Bank - Australia
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- Kaltim Prima Coal - Indonesia
- Interocean Group of Companies - India
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- Goldman Sachs - Singapore
- Coal and Oil Company - UAE
- CIMB Investment Bank - Malaysia
- Bukit Makmur.PT - Indonesia
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- GAC Shipping (India) Pvt Ltd
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- Port Waratah Coal Services - Australia
- Bhoruka Overseas - Indonesia
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- Energy Link Ltd, New Zealand
- Global Coal Blending Company Limited - Australia
- Baramulti Group, Indonesia
- Alfred C Toepfer International GmbH - Germany
- Indonesian Coal Mining Association
- Standard Chartered Bank - UAE
- Wilmar Investment Holdings
- Rashtriya Ispat Nigam Limited - India
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- Ministry of Transport, Egypt
- Posco Energy - South Korea
- Orica Australia Pty. Ltd.
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- Cement Manufacturers Association - India
- LBH Netherlands Bv - Netherlands
- Tata Chemicals Ltd - India
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- Larsen & Toubro Limited - India
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- Intertek Mineral Services - Indonesia
- CNBM International Corporation - China
- Dalmia Cement Bharat India
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- Indian Energy Exchange, India
- Indo Tambangraya Megah - Indonesia
- The University of Queensland
- White Energy Company Limited
- Price Waterhouse Coopers - Russia
- Gujarat Electricity Regulatory Commission - India
- Uttam Galva Steels Limited - India
- Aditya Birla Group - India
- Eastern Coal Council - USA
- Mintek Dendrill Indonesia
- Timah Investasi Mineral - Indoneisa
- Simpson Spence & Young - Indonesia
- Meenaskhi Energy Private Limited - India
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