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Friday, 09 October 09
STRAITS ASIA INDONESIAN MINE COAL LOADER COLLAPSES
 * New coal loading facility collapsed due to heavy rain
* Older coal loading facility seem unaffected so far
* UBS may cut valuation if disruption last beyond 6-mth
Reuters reported that, Singapore-listed coal miner, Straits Asia Resources, said on Thursday the new coal loading facility at its Jembayan mine in Indonesia's East Kalimantan province has collapsed due to heavy rain.
The company did not say whether there were any casualties.
Straits Asia said it is investigating the extent of damage and the potential impact on the future operation of the newly commissioned facility. It said the facility will not be able to load its coal output for "some time".
UBS said in a research note that it might lower its valuation on the company if the disruption lasts longer than six months.
Straits Asia blamed the collapse on several days of rain in the area, which caused erosion and the failure of the foundation structure of the facility.
The company said the Jembayan mine site operates two load out trains at the mine, and the old facility, with a nominal annual capacity of 5.5 million tonnes, "does not appear to be affected by this event."
"All other mining activities at Jembayan continue to function normally and all reasonable steps are being undertaken to mitigate the impact of this event," the company said in a statement to the stock exchange.
Straits Asia, which exports most of its output to power plants in Japan, Korea, Taiwan and India, plans to boost its production from its two coal mines in East Kalimantan province to 9.5 million tonnes in 2009, from 8.6 million tonnes last year.
UBS analyst Andreas Bokkenheuser said in a note that the company should be able to achieve 8 million tonnes of output this year.
"If the loader won't be operational for another six months, our scenario analysis suggest a 10 percent downside from our current S$2.50 ($1.80) valuation to S$2.25," Bokkenheuser said.
The announcement came after the stock market closed. Straits Asia's shares had finished 1.38 percent higher to end at S$2.21, outperforming the broader market .FTSTI which finished 0.62 percent higher. ($1=1.392 Singapore Dollar)
Source: Reuters
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Thursday, 08 October 09
MINING TO ATTRACT $6B: BKPM
The Jakarta Post reported that, Indonesia’s mining sector could expect investment of up to US$6 billion in the 2010-2012 period, in part becau ...
Thursday, 08 October 09
INDIA DEMAND TO HELP DIRE COAL OUTLOOK - MACQUARIE
Reuters reported that, Macquarie Securities said on Wednesday its bearish short-term outlook on thermal coal may begin improving in a year's time o ...
Thursday, 08 October 09
ESSAR UNIT WINS INR 479 CR (US$ 103,272,401) ORISSA PROJECT
The firm will develop and operate the terminal at Paradip port; the contract will stretch up to 30 years
Live Mint reported that, Essar Shipping ...
Wednesday, 07 October 09
ESSAR, JINDAL IN TAKEOVER TUSSLE FOR AUSTRALIAN COAL MINER
Reuters reported that, Privately owned Essar Group has launched a surprise A$144.2 million ($128.1 million) bid for Australian coal minnow Rocklands ...
Wednesday, 07 October 09
ADARO SECURES $500 M LOAN
The Jakarta Post reported that, The country's second largest coal producer, PT Adaro Energy announced on Wednesday that it has secured US$500 milli ...
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- Jorong Barutama Greston.PT - Indonesia
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- Tata Chemicals Ltd - India
- Salva Resources Pvt Ltd - India
- Heidelberg Cement - Germany
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- Aditya Birla Group - India
- Alfred C Toepfer International GmbH - Germany
- Price Waterhouse Coopers - Russia
- GMR Energy Limited - India
- Siam City Cement - Thailand
- LBH Netherlands Bv - Netherlands
- Energy Link Ltd, New Zealand
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- Indian Energy Exchange, India
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- Bulk Trading Sa - Switzerland
- India Bulls Power Limited - India
- GAC Shipping (India) Pvt Ltd
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- IEA Clean Coal Centre - UK
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- Central Electricity Authority - India
- Bank of Tokyo Mitsubishi UFJ Ltd
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- Minerals Council of Australia
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- Therma Luzon, Inc, Philippines
- Maheswari Brothers Coal Limited - India
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- Eastern Coal Council - USA
- Banpu Public Company Limited - Thailand
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- White Energy Company Limited
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- Bukit Makmur.PT - Indonesia
- Standard Chartered Bank - UAE
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- Africa Commodities Group - South Africa
- Singapore Mercantile Exchange
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- Mjunction Services Limited - India
- Carbofer General Trading SA - India
- Simpson Spence & Young - Indonesia
- Sindya Power Generating Company Private Ltd
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- The State Trading Corporation of India Ltd
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- PNOC Exploration Corporation - Philippines
- Karbindo Abesyapradhi - Indoneisa
- Indo Tambangraya Megah - Indonesia
- Kartika Selabumi Mining - Indonesia
- GVK Power & Infra Limited - India
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- Gujarat Electricity Regulatory Commission - India
- Rashtriya Ispat Nigam Limited - India
- Independent Power Producers Association of India
- Port Waratah Coal Services - Australia
- Maharashtra Electricity Regulatory Commission - India
- Baramulti Group, Indonesia
- McConnell Dowell - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Deloitte Consulting - India
- Indika Energy - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Interocean Group of Companies - India
- Larsen & Toubro Limited - India
- Straits Asia Resources Limited - Singapore
- Sojitz Corporation - Japan
- AsiaOL BioFuels Corp., Philippines
- Bhatia International Limited - India
- Sarangani Energy Corporation, Philippines
- Riau Bara Harum - Indonesia
- Jindal Steel & Power Ltd - India
- Cigading International Bulk Terminal - Indonesia
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- Antam Resourcindo - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
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- The University of Queensland
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- Edison Trading Spa - Italy
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- The Treasury - Australian Government
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- Metalloyd Limited - United Kingdom
- Coalindo Energy - Indonesia
- Indonesian Coal Mining Association
- Billiton Holdings Pty Ltd - Australia
- Renaissance Capital - South Africa
- Dalmia Cement Bharat India
- Cement Manufacturers Association - India
- Parliament of New Zealand
- Electricity Generating Authority of Thailand
- Orica Mining Services - Indonesia
- Orica Australia Pty. Ltd.
- Meralco Power Generation, Philippines
- European Bulk Services B.V. - Netherlands
- Bhoruka Overseas - Indonesia
- Borneo Indobara - Indonesia
- Rio Tinto Coal - Australia
- Ministry of Mines - Canada
- IHS Mccloskey Coal Group - USA
- Iligan Light & Power Inc, Philippines
- Altura Mining Limited, Indonesia
- Makarim & Taira - Indonesia
- Chamber of Mines of South Africa
- Wilmar Investment Holdings
- SMG Consultants - Indonesia
- Kaltim Prima Coal - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Mercuria Energy - Indonesia
- London Commodity Brokers - England
- Uttam Galva Steels Limited - India
- Ministry of Finance - Indonesia
- New Zealand Coal & Carbon
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- Timah Investasi Mineral - Indoneisa
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- Samtan Co., Ltd - South Korea
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- PetroVietnam Power Coal Import and Supply Company
- Energy Development Corp, Philippines
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- Ministry of Transport, Egypt
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