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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

Tuesday, 22 December 09
CHINA CONTRACTED COAL PRICE FOR 2010 SEES SLIGHT INCREASE
A number of coal and power enterprises have concluded their annual power-coal supply contracts for 2010, and the contracted coal price saw slight in ...


Tuesday, 22 December 09
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Bloomberg reported that, the queue of coal ships waiting at Australia’s Newcastle port, the world’s biggest export harbor for the fuel, ...


Monday, 21 December 09
INDONESIA HAS EXPORTED AROUND 195.303 MILLION TONS OF COAL TILL END OF NOVEMBER 2009
COALspot.com (Indonesia): China has been the largest single buyer of Indonesian coal in November 2009, by taking 28.69% of  total exported quan ...


Monday, 21 December 09
RUSSIAN COAL MINER SUEK EYES '10 LONDON IPO
* Company valued at around $8-$9 bln - banking source * IPO could take place in H1 - source * May list 25 pct of share capital - report Reuters ...


Monday, 21 December 09
IGCC OUTLOOK CHINA 2010 TO BE HELD IN APRIL 2010 IN SHANGHAI
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