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Thursday, 09 July 09
GARDA LISTS SHARES IN LOCAL BOURSE
Local coal company PT Garda Tujuh Buana officially listed its shares in the Indonesia Stock Exchange (IDX).
The listing followed the company's previous initial public offering (IPO) held between July 1 and 3.
Through the IPO, the company offered 73 percent its shares to the public at the price of Rp 115 a share and managed to secure Rp 210 billion in proceeds.
Garda director for business development Socrates Rudy Sirait says that the company will use 45.27-percent of the proceeds for capital expenditure, 9.19 percent for loan refinancing and 45.55 percent for working capital.
With that budget, the company targets to produce 900,000 tons of coal by the end of the year and will double it to the level of 1.8 million tons in 2010.
Last year, the company produced 30,000 tons of coal.
The company has a coal concession in Bunyu island, East Kalimantan with a total coal reserve of 140 million tons.
Source: The Jakarta Post
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Friday, 26 June 09
BAYAN TARGETS GROSS PROFIT TO RISE BY 86.2 PERCENT
Local coal producer publicly listed PT Bayan Resources is targeting this year's gross profit to rise by 86.2 percent on the back of higher sales vo ...
Thursday, 25 June 09
INDIA'S ULTRATECH BUYS 500,000T S.AFRICA COAL
Indian cement maker Ultratech has bought 10 handymax cargoes of South African coal at $73.00-$74.00 a tonne CIF for July-September delivery, Indian ...
Wednesday, 24 June 09
NTPC BURNS MORE COAL TO PRODUCE ELECTRICITY
A tonne of coal is the same as another tonne of coal, you might think.
But power major NTPC Ltd is finding that this year’s coal is not yie ...
Wednesday, 24 June 09
NTPC, COAL INDIA TO BUY MINING ASSETS OVERSEAS
State-owned utility National Thermal Power Corporation (NTPC) and the largest coal producer Coal India are in advanced stages of acquiring mining as ...
Tuesday, 23 June 09
NEWCASTLE WEEKLY COAL EXPORTS DECREASE 15%; SHIP QUEUE RISES
Coal shipments from Australia’s Newcastle port, the world’s biggest export harbor for the fuel, fell 15 percent last week while the numb ...
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