COALspot.com keeps you connected across the coal world

Submit Your Articles
We welcome article submissions from experts in the areas of coal, mining, shipping, etc.

To Submit your article please click here.

International Energy Events


Search News
Latest CoalNews Headlines
Saturday, 22 October 11
INDONESIA'S GOLDEN ENERGY SLASHES ITS IPO PRICE - THE JAKARTA GLOBE


The Jakarta Globe reported that, Golden Energy Mines, a coal mining company affiliated with Sinar Mas Group, lowered its target in an initial public offering planned next month to as much as $250 million, less than half the original price, due to market volatility.

The Jakarta-based company plans to sell 882.35 million shares, or a 15 percent stake, at a price range of Rp 2,300 to Rp 3,500 each. Golden Energy initially planned to sell 1.2 billion shares, or 20 percent of total shares, to raise $550 million.

The company is a unit of energy and infrastructure firm Dian Swastatika Sentosa, which will own 85 percent of Golden Energy after the initial public offering.

“Considering the volatile global market, we decided to adjust,” said Kokarjadi Chandra, president director of Sinarmas Sekuritas, the sole underwriter. He said a 15 percent share sale can generate the money Golden Energy needs for its capital expenditure.

The company will use most of the proceeds for infrastructure, working capital and an expansion of its subsidiary. Ten percent of the proceeds — or about $25 million — will go to pay off debt, valued at about $40 million and mostly owed to Dian Swastatika Sentosa, said Golden Energy president director L. Krisnan Cahya.

The bookbuilding is scheduled from Oct. 21-24, and Golden Energy will be listed on the Indonesia Stock Exchange on Nov. 11.

Golden Energy is targeting 6 million tons in coal production this year, three times higher than last year. Krisnan said production had reached 4 million tons as of September. The company expects to produce 10 million tons by 2012 and 14 million tons by 2013.

Golden Energy moved closer to its goal by opening a new pit in Kalimantan that has about 200 million tons in reserves and will produce 2.5 millions tons this year, company director Yudha Wibawa said. A new port with an annual capacity of 40 million tons, will also help with shipments.

The company expects to set aside Rp 1.36 trillion in capital expenditure up to 2016. It set Rp 501.99 billion in capital expenditure for this year, and Krisnan said it had spent about $30 million as of September. It forecasts reaching Rp 3.41 trillion in revenue this year, up from Rp 927 billion in 2010, and to make Rp 507 billion in profit, up from Rp 34 billion.

It does not plan to acquire more coal mines in the near future.

“We will focus on maximizing production in our current mines because we have quite a large reserve today,” said Krisnan, adding that the company has 849 million tons of thermal coal reserves.

Golden Energy sells most of its production to power companies and cement producers in Indonesia and abroad.

This year, the mining sector has lost 22 percent on the Indonesian Stock Exchange (IDX).
Source: The Jakarta Globe (By: Francezka Nangoy)



If you believe an article violates your rights or the rights of others, please contact us.

Recent News

Monday, 24 October 11
CAPESIZE RENTAL RATES RISE FOR THIRD DAY AS MORE SHIPS HIRED - HELLENIC SHIPPING
Rates to hire capesize vessels advanced for a third day on signs of increased demand to transport iron ore, used to make steel.Daily rates for the s ...


Sunday, 23 October 11
CHINA LOOKING TO RESELL INDONESIAN COAL CARGOES - BARCLAYS
Commodity Online reported that, Anecdotal evidence has suggested that China is even looking to resell Indonesian cargoes back into the seaborne coal ...


Saturday, 22 October 11
THE SHORT-PERIOD RATES FOR PANAMAX REMAINED FIRM - CAPT. REDDY
COALspot.com - "The market seemed to slow down a bit this week, and all sectors were down by about One to five percent", said Capt. Reddy, ...


Saturday, 22 October 11
WILL THE PROPOSED 26 PERCENT PROFIT SHARING CLAUSE IN THE MINING BILL SPEED UP THE PRODUCTION OR SCARE AWAY INVESTORS? - DIPESH DIPU
A draft law has been approved by a ministerial panel headed by Finance Minister Pranab Mukherjee of India which, if passed by the Cabinet, will make ...


Thursday, 20 October 11
CAPESIZE - TUBARAO /QINGDAO BEING FIXED AT STRONG US$ 29.75 PMT
Handy The Atlantic market is quite steady, and market seems to be around the same levels as last week.  Fewer fixtures reported though.  ...


   1002 1003 1004 1005 1006   
Showing 5016 to 5020 news of total 6871
News by Category
Popular News
 
Total Members : 28,696
Member
Panelist
User ID
Password
Remember Me
By logging on you accept our TERMS OF USE.
Free
Register
Forgot Password
 
Our Members Are From ...

  • Reliance Power - India
  • Chettinad Cement Corporation Ltd - India
  • Madhucon Powers Ltd - India
  • Rio Tinto Coal - Australia
  • Pinang Coal Indonesia
  • Berau Coal - Indonesia
  • Aboitiz Power Corporation - Philippines
  • Baramulti Group, Indonesia
  • Energy Development Corp, Philippines
  • Interocean Group of Companies - India
  • Manunggal Multi Energi - Indonesia
  • Xstrata Coal
  • Asia Cement - Taiwan
  • Directorate General of MIneral and Coal - Indonesia
  • Inspectorate - India
  • Economic Council, Georgia
  • SRK Consulting
  • Coal Orbis AG
  • Indian Energy Exchange, India
  • Renaissance Capital - South Africa
  • Ind-Barath Power Infra Limited - India
  • Vale Mozambique
  • CESC Limited - India
  • Adaro Indonesia
  • Indogreen Group - Indonesia
  • Uttam Galva Steels Limited - India
  • Siam City Cement PLC, Thailand
  • White Energy Company Limited
  • Credit Suisse - India
  • GVK Power & Infra Limited - India
  • EMO - The Netherlands
  • Meenaskhi Energy Private Limited - India
  • LBH Netherlands Bv - Netherlands
  • Fearnleys - India
  • IHS Mccloskey Coal Group - USA
  • J M Baxi & Co - India
  • WorleyParsons
  • Mitsui
  • Price Waterhouse Coopers - Russia
  • Grasim Industreis Ltd - India
  • Trasteel International SA, Italy
  • VISA Power Limited - India
  • Jindal Steel & Power Ltd - India
  • Orica Mining Services - Indonesia
  • Global Coal Blending Company Limited - Australia
  • ING Bank NV - Singapore
  • Chamber of Mines of South Africa
  • Arch Coal - USA
  • SMG Consultants - Indonesia
  • Petrosea - Indonesia
  • Global Green Power PLC Corporation, Philippines
  • Coastal Gujarat Power Limited - India
  • Kapuas Tunggal Persada - Indonesia
  • Planning Commission, India
  • CNBM International Corporation - China
  • Cargill India Pvt Ltd
  • PLN Batubara - Indonesia
  • Latin American Coal - Colombia
  • Mercator Lines Limited - India
  • Salva Resources Pvt Ltd - India
  • Carbofer General Trading SA - India
  • GHCL Limited - India
  • Indika Energy - Indonesia
  • Singapore Mercantile Exchange
  • Vedanta Resources Plc - India
  • Jatenergy - Australia
  • OCBC - Singapore
  • CCIC - Indonesia
  • Infraline Energy - India
  • San Jose City I Power Corp, Philippines
  • Kohat Cement Company Ltd. - Pakistan
  • Marubeni Corporation - India
  • The State Trading Corporation of India Ltd
  • Thiess Contractors Indonesia
  • Makarim & Taira - Indonesia
  • Commonwealth Bank - Australia
  • Power Finance Corporation Ltd., India
  • Ambuja Cements Ltd - India
  • Sindya Power Generating Company Private Ltd
  • U S Energy Resources
  • Bhatia International Limited - India
  • BNP Paribas - Singapore
  • Indonesia Power. PT
  • Shree Cement - India
  • Samsung - South Korea
  • Malco - India
  • Petron Corporation, Philippines
  • Bulk Trading Sa - Switzerland
  • Riau Bara Harum - Indonesia
  • Humpuss - Indonesia
  • Borneo Indobara - Indonesia
  • Cemex - Philippines
  • Kideco Jaya Agung - Indonesia
  • Agrawal Coal Company - India
  • Tanito Harum - Indonesia
  • Global Business Power Corporation, Philippines
  • Barclays Capital - USA
  • Gujarat Mineral Development Corp Ltd - India
  • Bahari Cakrawala Sebuku - Indonesia
  • Parry Sugars Refinery, India
  • Binh Thuan Hamico - Vietnam
  • Clarksons - UK
  • Mercuria Energy - Indonesia
  • Larsen & Toubro Limited - India
  • Tata Power - India
  • Kartika Selabumi Mining - Indonesia
  • GB Group - China
  • Pendopo Energi Batubara - Indonesia
  • TANGEDCO India
  • Port Waratah Coal Services - Australia
  • Filglen & Citicon Mining (HK) Ltd - Hong Kong
  • KPCL - India
  • ETA - Dubai
  • EIA - United States
  • Bukit Makmur.PT - Indonesia
  • PLN - Indonesia
  • Neyveli Lignite Corporation Ltd, - India
  • World Bank
  • Alfred C Toepfer International GmbH - Germany
  • Tata Chemicals Ltd - India
  • Cebu Energy, Philippines
  • Adani Power Ltd - India
  • PetroVietnam Power Coal Import and Supply Company
  • Xindia Steels Limited - India
  • ANZ Bank - Australia
  • Coal India Limited
  • Maharashtra Electricity Regulatory Commission - India
  • GAC Shipping (India) Pvt Ltd
  • Indonesian Coal Mining Association
  • Indorama - Singapore
  • IMC Shipping - Singapore
  • Kepco SPC Power Corporation, Philippines
  • JPower - Japan
  • Dong Bac Coal Mineral Investment Coporation - Vietnam
  • GNFC Limited - India
  • Electricity Generating Authority of Thailand
  • Sucofindo - Indonesia
  • Vizag Seaport Private Limited - India
  • Straits Asia Resources Limited - Singapore
  • Kaltim Prima Coal - Indonesia
  • Heidelberg Cement - Germany
  • Argus Media - Singapore
  • Gujarat Electricity Regulatory Commission - India
  • Malabar Cements Ltd - India
  • Aditya Birla Group - India
  • Mechel - Russia
  • Altura Mining Limited, Indonesia
  • Maybank - Singapore
  • TRAFIGURA, South Korea
  • Ince & co LLP
  • CIMB Investment Bank - Malaysia
  • Rudhra Energy - India
  • Glencore India Pvt. Ltd
  • Gresik Semen - Indonesia
  • IEA Clean Coal Centre - UK
  • Minerals Council of Australia
  • Timah Investasi Mineral - Indoneisa
  • TNB Fuel Sdn Bhd - Malaysia
  • World Coal - UK
  • Lanco Infratech Ltd - India
  • Jorong Barutama Greston.PT - Indonesia
  • Sarangani Energy Corporation, Philippines
  • Goldman Sachs - Singapore
  • Holcim Trading Pte Ltd - Singapore
  • PNOC Exploration Corporation - Philippines
  • Sical Logistics Limited - India
  • globalCOAL - UK
  • Australian Commodity Traders Exchange
  • New Zealand Coal & Carbon
  • Deutsche Bank - India
  • Mitra SK Pvt Ltd - India
  • Therma Luzon, Inc, Philippines
  • Star Paper Mills Limited - India
  • McConnell Dowell - Australia
  • IBC Asia (S) Pte Ltd
  • Ernst & Young Pvt. Ltd.
  • Jaiprakash Power Ventures ltd
  • Iligan Light & Power Inc, Philippines
  • Oldendorff Carriers - Singapore
  • Miang Besar Coal Terminal - Indonesia
  • Asian Development Bank
  • Medco Energi Mining Internasional
  • Ministry of Transport, Egypt
  • Sinarmas Energy and Mining - Indonesia
  • Metalloyd Limited - United Kingdom
  • Toyota Tsusho Corporation, Japan
  • Maruti Cements - India
  • Formosa Plastics Group - Taiwan
  • International Coal Ventures Pvt Ltd - India
  • Krishnapatnam Port Company Ltd. - India
  • Bhoruka Overseas - Indonesia
  • BRS Brokers - Singapore
  • DBS Bank - Singapore
  • Vijayanagar Sugar Pvt Ltd - India
  • The India Cements Ltd
  • Sree Jayajothi Cements Limited - India
  • Georgia Ports Authority, United States
  • SASOL - South Africa
  • Kalimantan Lumbung Energi - Indonesia
  • Merrill Lynch Bank
  • Surastha Cement
  • McKinsey & Co - India
  • Bank of China, Malaysia
  • Semirara Mining and Power Corporation, Philippines
  • Asia Pacific Energy Resources Ventures Inc, Philippines
  • KOWEPO - South Korea
  • Cement Manufacturers Association - India
  • Wood Mackenzie - Singapore
  • Edison Trading Spa - Italy
  • Savvy Resources Ltd - HongKong
  • Lafarge - France
  • bp singapore
  • IOL Indonesia
  • TeaM Sual Corporation - Philippines
  • Semirara Mining Corp, Philippines
  • Essar Steel Hazira Ltd - India
  • Kumho Petrochemical, South Korea
  • South Luzon Thermal Energy Corporation
  • Sojitz Corporation - Japan
  • Dalmia Cement Bharat India
  • Energy Link Ltd, New Zealand
  • European Bulk Services B.V. - Netherlands
  • Kobe Steel Ltd - Japan
  • Mjunction Services Limited - India
  • Noble Europe Ltd - UK
  • Intertek Mineral Services - Indonesia
  • Leighton Contractors Pty Ltd - Australia
  • ICICI Bank Limited - India
  • Samtan Co., Ltd - South Korea
  • GN Power Mariveles Coal Plant, Philippines
  • RBS Sempra - UK
  • SUEK AG - Indonesia
  • Karaikal Port Pvt Ltd - India
  • PTC India Limited - India
  • Standard Chartered Bank - UAE
  • Anglo American - United Kingdom
  • Central Electricity Authority - India
  • Peabody Energy - USA
  • Platts
  • Thailand Anthracite
  • Africa Commodities Group - South Africa
  • KPMG - USA
  • Enel Italy
  • Dr Ramakrishna Prasad Power Pvt Ltd - India
  • Rashtriya Ispat Nigam Limited - India
  • Japan Coal Energy Center
  • The University of Queensland
  • Simpson Spence & Young - Indonesia
  • Bank of America
  • Ceylon Electricity Board - Sri Lanka
  • Geoservices-GeoAssay Lab
  • Indo Tambangraya Megah - Indonesia
  • Truba Alam Manunggal Engineering.Tbk - Indonesia
  • Bank of Tokyo Mitsubishi UFJ Ltd
  • Coalindo Energy - Indonesia
  • CoalTek, United States
  • Independent Power Producers Association of India
  • Indian School of Mines
  • Coeclerici Indonesia
  • Arutmin Indonesia
  • Directorate Of Revenue Intelligence - India
  • PetroVietnam
  • Videocon Industries ltd - India
  • Russian Coal LLC
  • Maersk Broker
  • Sakthi Sugars Limited - India
  • Bayan Resources Tbk. - Indonesia
  • ACC Limited - India
  • GMR Energy Limited - India
  • Central Java Power - Indonesia
  • Thai Mozambique Logistica
  • Panama Canal Authority
  • SGS (Thailand) Limited
  • Thermax Limited - India
  • Inco-Indonesia
  • Billiton Holdings Pty Ltd - Australia
  • APGENCO India
  • Freeport Indonesia
  • Permata Bank - Indonesia
  • MEC Coal - Indonesia
  • Pipit Mutiara Jaya. PT, Indonesia
  • Vitol - Bahrain
  • Meralco Power Generation, Philippines
  • Antam Resourcindo - Indonesia
  • Kobexindo Tractors - Indoneisa
  • PowerSource Philippines DevCo
  • Britmindo - Indonesia
  • Idemitsu - Japan
  • TNPL - India
  • Deloitte Consulting - India
  • Globalindo Alam Lestari - Indonesia
  • UOB Asia (HK) Ltd
  • NTPC Limited - India
  • Ministry of Finance - Indonesia
  • Eastern Energy - Thailand
  • Siam City Cement - Thailand
  • Thomson Reuters GRC
  • Total Coal South Africa
  • Cosco
  • Offshore Bulk Terminal Pte Ltd, Singapore
  • JPMorgan - India
  • Asmin Koalindo Tuhup - Indonesia
  • Eastern Coal Council - USA
  • The Treasury - Australian Government
  • Australian Coal Association
  • Core Mineral Indonesia
  • Karbindo Abesyapradhi - Indoneisa
  • Orica Australia Pty. Ltd.
  • Bangkok Bank PCL
  • Merrill Lynch Commodities Europe
  • Bharathi Cement Corporation - India
  • OPG Power Generation Pvt Ltd - India
  • Runge Indonesia
  • Mitsubishi Corporation
  • Tamil Nadu electricity Board
  • Ministry of Mines - Canada
  • MS Steel International - UAE
  • AsiaOL BioFuels Corp., Philippines
  • Maheswari Brothers Coal Limited - India
  • Cigading International Bulk Terminal - Indonesia
  • Romanian Commodities Exchange
  • Posco Energy - South Korea
  • Petrochimia International Co. Ltd.- Taiwan
  • Platou - Singapore
  • HSBC - Hong Kong
  • Cardiff University - UK
  • Barasentosa Lestari - Indonesia
  • NALCO India
  • Indian Oil Corporation Limited
  • Bukit Asam (Persero) Tbk - Indonesia
  • Shenhua Group - China
  • KEPCO - South Korea
  • Parliament of New Zealand
  • Wilmar Investment Holdings
  • TGV SRAAC LIMITED, India
  • London Commodity Brokers - England
  • ASAPP Information Group - India
  • Banpu Public Company Limited - Thailand
  • Moodys - Singapore
  • Coaltrans Conferences
  • Bangladesh Power Developement Board
  • Gujarat Sidhee Cement - India
  • Coal and Oil Company - UAE
  • Mintek Dendrill Indonesia
  • Electricity Authority, New Zealand
  • Thriveni
  • Bhushan Steel Limited - India
  • SMC Global Power, Philippines
  • SN Aboitiz Power Inc, Philippines
  • India Bulls Power Limited - India
  • Qatrana Cement - Jordan
  • UBS Singapore
  • Gupta Coal India Ltd
  • Attock Cement Pakistan Limited
  • Bukit Baiduri Energy - Indonesia