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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, 21 October 09
INDONESIA'S BUKIT ASAM GETS COAL RAILWAY APPROVAL
Reuters reported that, Indonesian state coal miner PT Tambang Batubara Bukit Asam Tbk said on Wednesday it had been given government approval to sta ...


Wednesday, 21 October 09
COAL DEMAND SOARS AS ASIA ECONOMIES REBOUND - PEABODY
Reuters reported that, Demand for coal to generate electricity and make steel in China and India is expected to grow by 7 percent to 8 percent annua ...


Wednesday, 21 October 09
INDONESIAN SHOCK FOR INDIAN POWER PLANTS
Business-Standard reported that, India’s ambitious plans to generate an additional 180,000 Mw of power in the next seven years will face hurdl ...


Wednesday, 21 October 09
DUTA GRAHA PLANNING TO DELVE INTO MINING SECTOR
The Jakarta Globe reported that, PT Duta Graha, one of the country’s largest private engineering firms, says it intends to diversify into the ...


Tuesday, 20 October 09
RECAPITAL SET TO BUY INDONESIA'S BERAU COAL - SOURCES
* COULD PAY AT LEAST $1.3 BLN FOR BERAU - SOURCES * RECAPITAL CONFIRMS IT HAS BID FOR BERAU * BAKRIE GROUP LIKELY TO BACK BID – SOURCES ...


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