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Monday, 20 April 09
INDO TAMBANGRAYA 2009 OUTPUT TO GO UP 16% - THE JAKARTA POST
Indonesia's third largest coal producer, publicly listed PT Indo Tambangraya Megah (ITM), is targeting to raise production by 16 percent this year as the company starts mining in a new area.
The company, which is a subsidiary of Thailand’s largest coal producer Banpu Plc, will expand production to 20.5 million tons this year from 17.6 million tons in 2008.
Sales are forecast to rise to between US$1.33 billion and $1.54 billion from $1.32 billion in 2008.
ITM president director Somyot Ruchirawat said on Friday the additional coal would be secured from a new mining site located in the eastern part of the existing Indominco block in Kalimantan.
“Indominco East Block will start producing by the second half of this year,” he said, adding the company expected the new mine would provide additional coal supply of up to two million tons.
The remaining planned output will be secured from other mining sites, thanks in part to the company’s current and ongoing output improvement initiatives, he said.
The initiatives are expected to help reverse a drop in production last year due to heavy rainfall. Last year, coal production was down 1.1 percent to 17.6 million tons from 17.8 million tons in 2007.
ITM finance director Edward Manurung said the company would spend $57 million on the improvement initiatives, which would take up the biggest part of the company’s capital expenditure of US$126 million allocated for this year.
The company will also spend $41 million on the Bontang port expansion in East Kalimantan, $6 million on the Bontang power plant, $15 million on the development of the Indominco East Block and $7 million on the new Bharinto mining project in East Kalimantan, which is targeted to start producing in 2010.
Edward said the company would use internal cash to finance its capital expenditure plans.
The company was looking for the opportunity to acquire more local coal companies located in Kalimantan, Ruchirawat said, without going into further details.
“With the decline in coal prices, it makes the price of assets cheaper and that’s an opportunity for us,” he said.
The company has estimated that coal prices next year will be between $65 and $75 a ton, relatively flat compared to last year’s $74 a ton.
So far, the company had secured 88 percent of targeted coal contracts with selling prices ranging between $75 and $85 a ton.
ITM shares declined 2 percent to Rp 14,750 Friday after UBS AG cut the stock’s rating to “neutral” from “buy,” citing its “expensive” valuation, according to Bloomberg.
Source:http://www.thejakartapost.com/news/2009/04/18/indo-tambangraya-2009-output-go-16.html
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Friday, 22 May 09
CHURCHILL DOUBLES INDONESIAN COAL PROJECT RESOURCE ESTIMATE - STEEL GURU
Mining Weekly quoted Churchill Mining as saying that the resource at its East Kutai coal project in Indonesia has more than doubled to 3.18 billion ...
Friday, 22 May 09
INDONESIA`S BUKIT ASAM TO HAVE POWER PLANT IN 2011 - ANTARA
The construction of a power plant in South Sumatra by coal mining company PT Tambang Batubara Bukit Asam will be completed in April 2011.
T ...
Friday, 22 May 09
NOBLE WINS CONTROL OF AUSTRALIA'S GLOUCESTER COAL - BLOOMBERG
Noble Group Ltd., a Hong Kong- based commodity supplier, won control of Australia’s Gloucester Coal Ltd. after last week raising its cash bid ...
Thursday, 21 May 09
FBR STARTS COVERAGE OF SHIPPING SECTOR - REUTERS
Friedman Billings Ramsey began coverage of the shipping industry, saying the sector, which is amidst a deep cyclical downturn, is poised for a recov ...
Thursday, 21 May 09
INDONESIAN COAL PRODUCTION IN Q1 BELOW TARGET - STEEL GURU
Mr Bambang Gatot Ariyono director for coal and mineral development at the Energy and Mineral Resources Ministry said that the coal production in the ...
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- GVK Power & Infra Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Neyveli Lignite Corporation Ltd, - India
- Bahari Cakrawala Sebuku - Indonesia
- The University of Queensland
- Indonesian Coal Mining Association
- Semirara Mining Corp, Philippines
- Simpson Spence & Young - Indonesia
- Coalindo Energy - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Borneo Indobara - Indonesia
- White Energy Company Limited
- Heidelberg Cement - Germany
- Vizag Seaport Private Limited - India
- Timah Investasi Mineral - Indoneisa
- Indo Tambangraya Megah - Indonesia
- Ministry of Transport, Egypt
- Bukit Baiduri Energy - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Australian Commodity Traders Exchange
- Dalmia Cement Bharat India
- Global Green Power PLC Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- Krishnapatnam Port Company Ltd. - India
- PNOC Exploration Corporation - Philippines
- Sojitz Corporation - Japan
- Makarim & Taira - Indonesia
- Maheswari Brothers Coal Limited - India
- Electricity Generating Authority of Thailand
- Mercator Lines Limited - India
- Lanco Infratech Ltd - India
- Electricity Authority, New Zealand
- Attock Cement Pakistan Limited
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Cigading International Bulk Terminal - Indonesia
- Georgia Ports Authority, United States
- Bukit Asam (Persero) Tbk - Indonesia
- Altura Mining Limited, Indonesia
- Economic Council, Georgia
- LBH Netherlands Bv - Netherlands
- Karaikal Port Pvt Ltd - India
- Salva Resources Pvt Ltd - India
- Ministry of Mines - Canada
- Indian Oil Corporation Limited
- Kohat Cement Company Ltd. - Pakistan
- Pendopo Energi Batubara - Indonesia
- The Treasury - Australian Government
- Siam City Cement - Thailand
- Alfred C Toepfer International GmbH - Germany
- Posco Energy - South Korea
- Parry Sugars Refinery, India
- Merrill Lynch Commodities Europe
- Directorate Of Revenue Intelligence - India
- Iligan Light & Power Inc, Philippines
- Gujarat Electricity Regulatory Commission - India
- Independent Power Producers Association of India
- Malabar Cements Ltd - India
- Gujarat Sidhee Cement - India
- Thai Mozambique Logistica
- Pipit Mutiara Jaya. PT, Indonesia
- Jindal Steel & Power Ltd - India
- Indian Energy Exchange, India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Coal and Oil Company - UAE
- Tamil Nadu electricity Board
- Bhatia International Limited - India
- London Commodity Brokers - England
- Global Business Power Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Star Paper Mills Limited - India
- Bayan Resources Tbk. - Indonesia
- Chamber of Mines of South Africa
- Cement Manufacturers Association - India
- Kobexindo Tractors - Indoneisa
- Central Java Power - Indonesia
- Ministry of Finance - Indonesia
- Standard Chartered Bank - UAE
- Kapuas Tunggal Persada - Indonesia
- Riau Bara Harum - Indonesia
- Wood Mackenzie - Singapore
- Rashtriya Ispat Nigam Limited - India
- European Bulk Services B.V. - Netherlands
- CIMB Investment Bank - Malaysia
- Romanian Commodities Exchange
- Central Electricity Authority - India
- Australian Coal Association
- South Luzon Thermal Energy Corporation
- Miang Besar Coal Terminal - Indonesia
- Marubeni Corporation - India
- PetroVietnam Power Coal Import and Supply Company
- Aditya Birla Group - India
- Videocon Industries ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- CNBM International Corporation - China
- PTC India Limited - India
- India Bulls Power Limited - India
- SMG Consultants - Indonesia
- OPG Power Generation Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- Kartika Selabumi Mining - Indonesia
- ASAPP Information Group - India
- Bangladesh Power Developement Board
- Planning Commission, India
- Orica Mining Services - Indonesia
- Ambuja Cements Ltd - India
- Indika Energy - Indonesia
- Kaltim Prima Coal - Indonesia
- IHS Mccloskey Coal Group - USA
- AsiaOL BioFuels Corp., Philippines
- Carbofer General Trading SA - India
- Mjunction Services Limited - India
- GAC Shipping (India) Pvt Ltd
- Straits Asia Resources Limited - Singapore
- GN Power Mariveles Coal Plant, Philippines
- Oldendorff Carriers - Singapore
- San Jose City I Power Corp, Philippines
- Sarangani Energy Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- Thiess Contractors Indonesia
- Meralco Power Generation, Philippines
- Africa Commodities Group - South Africa
- Asmin Koalindo Tuhup - Indonesia
- IEA Clean Coal Centre - UK
- Sinarmas Energy and Mining - Indonesia
- Minerals Council of Australia
- Deloitte Consulting - India
- Parliament of New Zealand
- Renaissance Capital - South Africa
- Aboitiz Power Corporation - Philippines
- Sindya Power Generating Company Private Ltd
- Medco Energi Mining Internasional
- Agrawal Coal Company - India
- Port Waratah Coal Services - Australia
- Binh Thuan Hamico - Vietnam
- MS Steel International - UAE
- Power Finance Corporation Ltd., India
- Interocean Group of Companies - India
- SMC Global Power, Philippines
- Singapore Mercantile Exchange
- Bukit Makmur.PT - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Mintek Dendrill Indonesia
- Wilmar Investment Holdings
- Petrochimia International Co. Ltd.- Taiwan
- Intertek Mineral Services - Indonesia
- ICICI Bank Limited - India
- Orica Australia Pty. Ltd.
- Goldman Sachs - Singapore
- Globalindo Alam Lestari - Indonesia
- Baramulti Group, Indonesia
- Larsen & Toubro Limited - India
- Xindia Steels Limited - India
- Eastern Coal Council - USA
- Energy Link Ltd, New Zealand
- Bhoruka Overseas - Indonesia
- New Zealand Coal & Carbon
- Vedanta Resources Plc - India
- Metalloyd Limited - United Kingdom
- Leighton Contractors Pty Ltd - Australia
- Jaiprakash Power Ventures ltd
- Samtan Co., Ltd - South Korea
- Ind-Barath Power Infra Limited - India
- Banpu Public Company Limited - Thailand
- PowerSource Philippines DevCo
- Anglo American - United Kingdom
- Coastal Gujarat Power Limited - India
- Uttam Galva Steels Limited - India
- Energy Development Corp, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Grasim Industreis Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Formosa Plastics Group - Taiwan
- International Coal Ventures Pvt Ltd - India
- Latin American Coal - Colombia
- Eastern Energy - Thailand
- Chettinad Cement Corporation Ltd - India
- Global Coal Blending Company Limited - Australia
- Commonwealth Bank - Australia
- Kepco SPC Power Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Petron Corporation, Philippines
- VISA Power Limited - India
- Sakthi Sugars Limited - India
- Price Waterhouse Coopers - Russia
- Essar Steel Hazira Ltd - India
- Kideco Jaya Agung - Indonesia
- GMR Energy Limited - India
- Billiton Holdings Pty Ltd - Australia
- The State Trading Corporation of India Ltd
- Tata Chemicals Ltd - India
- McConnell Dowell - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Rio Tinto Coal - Australia
- Madhucon Powers Ltd - India
- Toyota Tsusho Corporation, Japan
- Bharathi Cement Corporation - India
- Bhushan Steel Limited - India
- Antam Resourcindo - Indonesia
- Trasteel International SA, Italy
- Barasentosa Lestari - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Mercuria Energy - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Sical Logistics Limited - India
- Kumho Petrochemical, South Korea
- Indogreen Group - Indonesia
- Manunggal Multi Energi - Indonesia
- Sree Jayajothi Cements Limited - India
- Bulk Trading Sa - Switzerland
- Therma Luzon, Inc, Philippines
- Siam City Cement PLC, Thailand
- Ceylon Electricity Board - Sri Lanka
- Jorong Barutama Greston.PT - Indonesia
- Edison Trading Spa - Italy
- TeaM Sual Corporation - Philippines
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