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Friday, 04 December 09
INDONESIA'S BUMI EYES MARKETING DEAL FOR BERAU COAL


Reuters reported that, Indonesian coal miner PT Bumi Resources Tbk said on Thursday it is in talks to be the exclusive marketing agent for coal produced by unlisted coal miner Berau Coal.

Bumi, which is controlled by the politically connected Bakrie group, is discussing the deal with investment firm Recapital Advisors, which recently acquired a stake in Berau Coal, the country's fifth-largest coal producer.

"We want to do the marketing, to be the exclusive marketing agent," Bumi's Chief Financial Officer, Andrew Beckham, told reporters. "We can market the coal if they want, if the discussions are favourable."

He added that the coal may be marketed to India and China as the two countries are the biggest markets at the moment.

"There will be some domestic, but they've already got domestic contracts. And you have to understand, they have contracts that they must honour," said Beckham.

He declined to disclose the details of the arrangement.
Source: Reuters



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Recent News

Wednesday, 30 December 09
CHINA'S 2010 COAL DEMAND COULD RISE 4%-6%, ACCORDING TO CHINA SECURITIES JOURNAL
China, which is the world’s second-largest energy user, may consume between 4 and 6% more coal next year on continued economic growth, China S ...


Tuesday, 29 December 09
PROFIT IN COAL INDUSTRY DOWN 9.4% Y-O-Y IN JAN.- NOV.
In November, China's coal production was 289mln tons, up 26.3% year on year, an increase of 5.2% over last month. China's average daily trucks loa ...


Tuesday, 29 December 09
DHARMA HENWA EYES 20% REVENUE GROWTH
Local integrated mining services provider PT Dharma Henwa, which was earlier this year acquired by coal mining giant PT Bumi Resources, expects reve ...


Monday, 28 December 09
NEED TO IMPORT COAL COMES EARLY
Viet Nam may need to start importing coal as early as 2012, three years earlier than expected, to meet its electricity demands. The Viet Nam Coal ...


Monday, 28 December 09
GOVT EYES $3.57B MINING, GEOTHERMAL INVESTMENT
The country can expect up to US$3.57 billion in investment in mining and geothermal energy next year, which would represent an increase by more than ...


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