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Friday, 09 October 09
INDIKA IN TALKS TO SELL 4M TONS OF COAL, EYEING BP ASSETS
 The Jakarta Post reported that, Energy company PT Indika Energy is in talks with Indian buyers to sell 4 million tons of coal next year, one of its executives says.
Indika investor relations vice president Retina Rosabai said Thursday the talks were still underway and no decision had been made, but refused to name the companies involved in the negotiations, or the value of the deal.
The deal is expected to bring the company's sales output next year to more than the 24 million tons estimated for this year.
To meet the target, the company is aiming to increase its coal output to 28 million tons by next year, a 12.68 percent increase on this year's production target.
The company's net profit dropped 25 percent in the first half of this year to Rp 361 billion (US$38.2 million) on the back of weaker demand.
However, Indika finance director Azis Rahman said conditions would improve in the second half of 2009 as revenue from engineering and mining subsidiary PT Petrosea would be consolidated into the company's financial books. He did not give any figures.
Indika recently acquired an 82 percent stake in Petrosea in a deal valued at $83.8 million.
By acquiring Petrosea, Indika expects to begin receiving up to 850,000 tons of additional coal from Petrosea's PT Santan Batubara unit this year, Azis said. Santan output is expected to increase to 2 million tons in 2010, he added.
Azis also said Indika was open for another acquisition opportunity, and that it had relatively strong cashflow, currently estimated to be around $270 million.
Other than supporting a possible acquisition, Indika would use the money to develop its three core business interests - power plants, resources and mining services.
Earlier it was reported that Indika was interested in acquiring assets belonging to British energy giant BP Plc and local coal producer Berau Coal.
Indika president director Arsjad Rasjid said earlier the company planned to partner with state oil and gas company PT Pertamina to buy a 46 percent stake in BP's Northwest Java Sea block in West Java.
When asked about the progress of these two acquisition plans, Azis refused to comment since both were still being negotiated.
Source: The Jakarta Post
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Tuesday, 13 October 09
JSW ENERGY SCOUTING FOR PARTNERS, ACQUISITIONS
Business-Standard reported that, JSW Energy is planning to become an integrated power company by bringing in a partner for its transmission business ...
Tuesday, 13 October 09
INDIA INTERESTED IN AMERICAN COAL
UPI reported that, Coal India Ltd. in its global expansion efforts is now interested in coal properties in the United States.
The Business Standard ...
Tuesday, 13 October 09
RIVERSDALE MAY USE ZAMBEZI RIVER TO TRANSPORT MOZAMBIQUE COAL
Mining Weekly reported that, ASX-listed coal-miner Riversdale Mining would submit a feasibility study and an environmental-impact study (EIS) for it ...
Monday, 12 October 09
INDONESIAN COAL MINER SAYS PLANS IPO IN 2010
Reuters reported that, Indonesian coal miner PT Bhakti Energi Persada plans an initial public offering in the first quarter of 2010 to develop coal ...
Monday, 12 October 09
BISICHI MINING FINALIZES COAL SUPPLY CONTRACT FOR 2010-2012
Small Cap News reported that, Bisichi, the South Africa based coal mining group, has agreed a three year coal supply contract between its principal ...
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- Price Waterhouse Coopers - Russia
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- Energy Link Ltd, New Zealand
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- Australian Commodity Traders Exchange
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- Chettinad Cement Corporation Ltd - India
- Riau Bara Harum - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Straits Asia Resources Limited - Singapore
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- Anglo American - United Kingdom
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- Electricity Authority, New Zealand
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- CNBM International Corporation - China
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- The University of Queensland
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- Savvy Resources Ltd - HongKong
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- Bulk Trading Sa - Switzerland
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- Medco Energi Mining Internasional
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- Coal and Oil Company - UAE
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- Star Paper Mills Limited - India
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- Trasteel International SA, Italy
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Africa Commodities Group - South Africa
- Orica Australia Pty. Ltd.
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- Ambuja Cements Ltd - India
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- Sojitz Corporation - Japan
- TeaM Sual Corporation - Philippines
- Metalloyd Limited - United Kingdom
- Semirara Mining and Power Corporation, Philippines
- Independent Power Producers Association of India
- Merrill Lynch Commodities Europe
- Edison Trading Spa - Italy
- Meralco Power Generation, Philippines
- San Jose City I Power Corp, Philippines
- Planning Commission, India
- Alfred C Toepfer International GmbH - Germany
- White Energy Company Limited
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- Iligan Light & Power Inc, Philippines
- Xindia Steels Limited - India
- Renaissance Capital - South Africa
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- Goldman Sachs - Singapore
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- Global Business Power Corporation, Philippines
- Salva Resources Pvt Ltd - India
- Thiess Contractors Indonesia
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- Malabar Cements Ltd - India
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- Energy Development Corp, Philippines
- Ministry of Finance - Indonesia
- Commonwealth Bank - Australia
- PNOC Exploration Corporation - Philippines
- Sindya Power Generating Company Private Ltd
- Gujarat Electricity Regulatory Commission - India
- MS Steel International - UAE
- Orica Mining Services - Indonesia
- Larsen & Toubro Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Economic Council, Georgia
- Neyveli Lignite Corporation Ltd, - India
- Indian Energy Exchange, India
- Bangladesh Power Developement Board
- Chamber of Mines of South Africa
- Mintek Dendrill Indonesia
- Vizag Seaport Private Limited - India
- South Luzon Thermal Energy Corporation
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- Bukit Makmur.PT - Indonesia
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- Sree Jayajothi Cements Limited - India
- Directorate Of Revenue Intelligence - India
- Petron Corporation, Philippines
- Parliament of New Zealand
- Romanian Commodities Exchange
- Coalindo Energy - Indonesia
- Heidelberg Cement - Germany
- Global Coal Blending Company Limited - Australia
- Semirara Mining Corp, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Toyota Tsusho Corporation, Japan
- Wilmar Investment Holdings
- IEA Clean Coal Centre - UK
- Krishnapatnam Port Company Ltd. - India
- Kumho Petrochemical, South Korea
- Indonesian Coal Mining Association
- ICICI Bank Limited - India
- Minerals Council of Australia
- Pendopo Energi Batubara - Indonesia
- Bayan Resources Tbk. - Indonesia
- Carbofer General Trading SA - India
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- Petrochimia International Co. Ltd.- Taiwan
- McConnell Dowell - Australia
- Binh Thuan Hamico - Vietnam
- Singapore Mercantile Exchange
- Sakthi Sugars Limited - India
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- PetroVietnam Power Coal Import and Supply Company
- GVK Power & Infra Limited - India
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- Global Green Power PLC Corporation, Philippines
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- Ministry of Transport, Egypt
- The Treasury - Australian Government
- Cement Manufacturers Association - India
- Videocon Industries ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
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- Barasentosa Lestari - Indonesia
- International Coal Ventures Pvt Ltd - India
- Bhushan Steel Limited - India
- New Zealand Coal & Carbon
- Standard Chartered Bank - UAE
- Samtan Co., Ltd - South Korea
- Central Electricity Authority - India
- Rashtriya Ispat Nigam Limited - India
- IHS Mccloskey Coal Group - USA
- Kideco Jaya Agung - Indonesia
- Eastern Energy - Thailand
- SN Aboitiz Power Inc, Philippines
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- Ministry of Mines - Canada
- Miang Besar Coal Terminal - Indonesia
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