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Wednesday, 13 May 09
ADARO, ITM EXPECT COAL GROWTH IN 2009
Adaro, which has a market capitalization of $3.64 billion, sells to 48 customers in 18 countries worldwide, including power utilities Thai Power and state utility PT Perusahaan Listrik Negara (PLN).
It expects to produce between 42 and 45 million tons of coal this year, up from 38.5 million tons in 2008, and aims to increase production to 80 million tons per annum during the next five years. Adaro supplies coal for Asian nations like India, Hong Kong and Japan; several EU countries like UK, Italy and Spain; and to the United States east coast.
"This year is for sure even better than last year," he said.
Benefiting from higher coal prices is another publicly listed coal mining company PT Indo Tambangraya Megah (ITM), the country's third largest, and the Indonesian subsidiary of Thailand's Banpu Pcl.
In the January-March period, the company booked a whopping 437 percent increase in net profits from a year earlier as higher selling prices offset lower sales volume.
"The price of coal has jumped to US$85 per ton from $50 per ton during the middle and the end of last year," ITM president director, Somyot Ruchiwarat, said Tuesday.
Net profits rose to $102 million from $19 million a year earlier on higher sales which rose from $219 million to $347 million. "The higher price offset our volume which dropped by 0.3 million tons from last year," Sumyot said.
For this year, sales are forecast to rise between $1.33 billion and $1.54 billion compared to $1.32 billion in 2008.
Despite lower production in the first quarter, the company is upbeat that coal production would increase in the coming period.
"Production may climb between 20 and 25 percent next year from about 20.5 million metric tons this year," Somyot said. The firm mined 17.8 million tons of coal in 2008.
The additional output would be secured in part from a new mining site located in the eastern part of the existing Indominco block in Kalimantan, which is expected to enter production in the second half with a capacity of 2 million tons.
In support of fulfilling this year's production target of 20.5 million tons, the company has as of April secured 95 percent of targeted coal contracts. (naf)
Source: The jakarta Post
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Saturday, 20 June 09
CHINA'S COAL IMPORTS UP AND EXPORTS DOWN
China’s coal import hit a new monthly high in May, while coal export slumped to a 11-year low, China Securities Journal reported today.
The ...
Friday, 19 June 09
COAL FORUM TO MEET IN BALI NEXT WEEK
Bali will host next week a Southeast Asian forum on coal, involving coal producers, consumers and government representatives.
The Indonesian Ener ...
Friday, 19 June 09
KARNATAKA POWER CORP BEGINS BLENDING INDONESIAN COAL
BL reported that the State Government owned power utility Karnataka Power Corporation Limited has begun blending imported Indonesian coal for its th ...
Thursday, 18 June 09
COAL MINING HALTS AFTER DEADLY BLAST - (UPDATE 2)
All mining activists in Sawahlunto, West Sumatra, are at a standstill after a major underground explosion killed at least 31 miners and buried 12 ot ...
Thursday, 18 June 09
INDIA'S HINDALCO CLOSE TO BUYING AUSTRALIA COAL MINE
India's largest aluminium maker Hindalco Industries is close to acquiring a coal mine in Australia, for about $70-$80 million, The Economic Times r ...
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- Indian Oil Corporation Limited
- Bangladesh Power Developement Board
- Renaissance Capital - South Africa
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- Economic Council, Georgia
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- Alfred C Toepfer International GmbH - Germany
- Intertek Mineral Services - Indonesia
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- Interocean Group of Companies - India
- Formosa Plastics Group - Taiwan
- Binh Thuan Hamico - Vietnam
- Chamber of Mines of South Africa
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- The University of Queensland
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- Indian Energy Exchange, India
- Australian Coal Association
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- Global Coal Blending Company Limited - Australia
- Sical Logistics Limited - India
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- Kobexindo Tractors - Indoneisa
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- Cement Manufacturers Association - India
- South Luzon Thermal Energy Corporation
- Edison Trading Spa - Italy
- SMG Consultants - Indonesia
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- Asmin Koalindo Tuhup - Indonesia
- Africa Commodities Group - South Africa
- GAC Shipping (India) Pvt Ltd
- Heidelberg Cement - Germany
- Georgia Ports Authority, United States
- Grasim Industreis Ltd - India
- India Bulls Power Limited - India
- Oldendorff Carriers - Singapore
- Global Business Power Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
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- Eastern Energy - Thailand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
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- SMC Global Power, Philippines
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- CNBM International Corporation - China
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- Holcim Trading Pte Ltd - Singapore
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- Pipit Mutiara Jaya. PT, Indonesia
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- Ministry of Finance - Indonesia
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- Jaiprakash Power Ventures ltd
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- Billiton Holdings Pty Ltd - Australia
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- TNB Fuel Sdn Bhd - Malaysia
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- Merrill Lynch Commodities Europe
- The Treasury - Australian Government
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- Mjunction Services Limited - India
- Electricity Generating Authority of Thailand
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- Karbindo Abesyapradhi - Indoneisa
- Ministry of Mines - Canada
- Coal and Oil Company - UAE
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- Independent Power Producers Association of India
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- Vedanta Resources Plc - India
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- MS Steel International - UAE
- Electricity Authority, New Zealand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Planning Commission, India
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- Indonesian Coal Mining Association
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- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- GN Power Mariveles Coal Plant, Philippines
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