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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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- Siam City Cement PLC, Thailand
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- Agrawal Coal Company - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
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- Coalindo Energy - Indonesia
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- Ministry of Finance - Indonesia
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- CIMB Investment Bank - Malaysia
- Sarangani Energy Corporation, Philippines
- The University of Queensland
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- Indian Oil Corporation Limited
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- PTC India Limited - India
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- Leighton Contractors Pty Ltd - Australia
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- Minerals Council of Australia
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- Romanian Commodities Exchange
- Jindal Steel & Power Ltd - India
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- Indonesian Coal Mining Association
- Ceylon Electricity Board - Sri Lanka
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- Maheswari Brothers Coal Limited - India
- Indogreen Group - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- GAC Shipping (India) Pvt Ltd
- Wood Mackenzie - Singapore
- Asmin Koalindo Tuhup - Indonesia
- Formosa Plastics Group - Taiwan
- Sojitz Corporation - Japan
- Power Finance Corporation Ltd., India
- Intertek Mineral Services - Indonesia
- Electricity Authority, New Zealand
- Essar Steel Hazira Ltd - India
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- Economic Council, Georgia
- Toyota Tsusho Corporation, Japan
- Baramulti Group, Indonesia
- Bayan Resources Tbk. - Indonesia
- IEA Clean Coal Centre - UK
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- Sical Logistics Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Energy Development Corp, Philippines
- Lanco Infratech Ltd - India
- Binh Thuan Hamico - Vietnam
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- Vedanta Resources Plc - India
- Electricity Generating Authority of Thailand
- Mintek Dendrill Indonesia
- Tamil Nadu electricity Board
- International Coal Ventures Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Gujarat Electricity Regulatory Commission - India
- New Zealand Coal & Carbon
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- Sree Jayajothi Cements Limited - India
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- Anglo American - United Kingdom
- Kobexindo Tractors - Indoneisa
- Edison Trading Spa - Italy
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- McConnell Dowell - Australia
- Independent Power Producers Association of India
- Straits Asia Resources Limited - Singapore
- Australian Commodity Traders Exchange
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- PNOC Exploration Corporation - Philippines
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- Indo Tambangraya Megah - Indonesia
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- Orica Australia Pty. Ltd.
- Deloitte Consulting - India
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- Manunggal Multi Energi - Indonesia
- Georgia Ports Authority, United States
- Thiess Contractors Indonesia
- Standard Chartered Bank - UAE
- South Luzon Thermal Energy Corporation
- Eastern Energy - Thailand
- Timah Investasi Mineral - Indoneisa
- Kideco Jaya Agung - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- MS Steel International - UAE
- VISA Power Limited - India
- London Commodity Brokers - England
- Miang Besar Coal Terminal - Indonesia
- Jaiprakash Power Ventures ltd
- TeaM Sual Corporation - Philippines
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- Parliament of New Zealand
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- Bulk Trading Sa - Switzerland
- Bahari Cakrawala Sebuku - Indonesia
- Larsen & Toubro Limited - India
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- Indian Energy Exchange, India
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- Commonwealth Bank - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Heidelberg Cement - Germany
- GMR Energy Limited - India
- Alfred C Toepfer International GmbH - Germany
- Ministry of Mines - Canada
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- PowerSource Philippines DevCo
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- Kaltim Prima Coal - Indonesia
- India Bulls Power Limited - India
- Kumho Petrochemical, South Korea
- Wilmar Investment Holdings
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- Port Waratah Coal Services - Australia
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