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Tuesday, 28 July 09
BUKIT ASAM ENJOYS STRONG FIRST HALF
 The Jakarta Post reported that, state coal miner PT Tambang Batubara Bukit Asam (PTBA) enjoyed a strong first half performance with six-month net profits more than double the amount booked in the same period last year, a senior executive says.
President director Sukrisno told reporters on Monday that net profits during the January-June period jumped to Rp 1.59 trillion (around US$160 million), as higher sale volume and prices bolstered revenues.
Revenue soared 56 percent to reach Rp 4.6 trillion.
“Revenue and profit soared as a result of higher volume sales and a better selling price for coal,” Sukrisno said on the sidelines of a meeting at the Office of the State Minister for State Enterprises.
During the first quarter, the company managed to sell its coal at $90 a ton on average, higher than the $60 and $70 a ton selling price in the same period last year.
Sukrisno is also cautiously upbeat about full-year prospects.
“We predict the revenue in the second semester will also be good. But who knows, because the coal price remains uncertain,” he said.
“It depends on the market price, but I am quite sure our sales volume will increase [from last year] by perhaps around 40 percent,” he said of the company’s full-year revenue estimates.
The company gained Rp 1.7 trillion in net profit last year, and paid the government Rp 555.2 billion in dividends.
It allocated a total of Rp 853.9 billion toward shareholder dividends in 2008.
PTBA is 65 percent owned by the government.
The company, which controls about a quarter of Indonesia’s coal reserves, is also launching an aggressive expansion by preparing several mine takeovers.
It is currently conducting feasibility studies for the purchase of two coal mines in Kalimantan, which have an estimated investment value of Rp 1.5 trillion.
According to Sukrisno, the company produced 5.8 million tons of coal in the first semester. The company is aiming to produce 13.5 million tons this year. (naf)
Source: The Jakarta Post
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Friday, 14 August 09
GUACOLDA STARTS THIRD COAL-FIRED UNIT
Macorship reported that, Chile’s Empresa Electrica Guacolda said that the third unit at its Guacolda coal-fired power plant began supplying po ...
Thursday, 13 August 09
RIO PREPARES COAL IPO AFTER FAILING TO FIND BUYER
Bloomberg reported that, Rio Tinto Group, the world’s third- largest mining company, is preparing an initial public offering for its U.S. ...
Thursday, 13 August 09
NOBLE'S PROFIT DOUBLES ON GLOUCESTER COAL ACQUISITION
Bloomberg reported that, Noble Group Ltd., a Hong Kong-based supplier of raw materials from soybeans to coal, said second- quarter profit more than ...
Thursday, 13 August 09
CHINA COAL-PRICES UNCHANGED, BUT LIKELY TO MOVE HIGHER
Alibaba reported that, Spot coal prices in China's top coal port Qinhuangdao were unchanged from a week earlier, but are still looking bullish in t ...
Thursday, 13 August 09
INDONESIA'S BERAU COAL SEES 2010 OUTPUT UP 16 PCT
Reuters reported that, Indonesia's fifth-largest coal miner, PT Berau Coal, expects 2010 production to be nearly 16 percent higher than this year, ...
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- Straits Asia Resources Limited - Singapore
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- Indian Oil Corporation Limited
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- Goldman Sachs - Singapore
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- Electricity Generating Authority of Thailand
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- India Bulls Power Limited - India
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- Lanco Infratech Ltd - India
- LBH Netherlands Bv - Netherlands
- Price Waterhouse Coopers - Russia
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- White Energy Company Limited
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- Bhatia International Limited - India
- Sindya Power Generating Company Private Ltd
- San Jose City I Power Corp, Philippines
- Minerals Council of Australia
- Thai Mozambique Logistica
- Kumho Petrochemical, South Korea
- Dalmia Cement Bharat India
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- Agrawal Coal Company - India
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- Singapore Mercantile Exchange
- Marubeni Corporation - India
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- Mercuria Energy - Indonesia
- Oldendorff Carriers - Singapore
- Central Electricity Authority - India
- CIMB Investment Bank - Malaysia
- London Commodity Brokers - England
- Ceylon Electricity Board - Sri Lanka
- TeaM Sual Corporation - Philippines
- Parliament of New Zealand
- Samtan Co., Ltd - South Korea
- Metalloyd Limited - United Kingdom
- International Coal Ventures Pvt Ltd - India
- Intertek Mineral Services - Indonesia
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- Chamber of Mines of South Africa
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- Gujarat Mineral Development Corp Ltd - India
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- Alfred C Toepfer International GmbH - Germany
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- MS Steel International - UAE
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- Makarim & Taira - Indonesia
- Deloitte Consulting - India
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- Mercator Lines Limited - India
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