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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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Sunday, 26 April 09
MITRA HOPES TO SECURE DEALS WITH TWO COAL FIRMS BY JUNE - THE JAKARTA POST
An integrated oil and gas services company, publicly listed PT Mitra Rajasa, is expecting to seal acquisition deals with two coal companies in June, ...
Sunday, 26 April 09
INDONESIAN GOVT SAYS COAL MINES CAUSE WEEKLONG FLOOD - THE JAKARTA POST
Samarinda administration in East Kalimantan admitted openly Thursday that the weeklong flood that paralyzed the city was caused by unruly management ...
Saturday, 25 April 09
FOREIGN SHARE DIVESTMENT STARTING THE 6TH YEAR OF PRODUCTION - MAJALAH TAMBANG
The government would set a divestment scheme for foreign miners, which would require companies to divest their ownership starting the 6th year of pr ...
Saturday, 25 April 09
INDO TAMBANGRAYA MEGAH ALLOCATED USD 126 MILLION FOR CAPITAL SPENDING - MAJALAH TAMBANG
Somyot Ruchirawat, President Director of PT Indo Tambangraya Megah, Tbk (ITMG), has announced the company's total dividend payment of Rp 1,345 per ...
Saturday, 25 April 09
MINING SECTOR IS STILL ON THE SURPLUS - THE JAKARTA POST
The global financial crisis is apparently also having an impact on the mining sector. People are thinking twice about investing in the mining sector ...
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- Renaissance Capital - South Africa
- Aditya Birla Group - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Samtan Co., Ltd - South Korea
- Bhushan Steel Limited - India
- IHS Mccloskey Coal Group - USA
- Savvy Resources Ltd - HongKong
- International Coal Ventures Pvt Ltd - India
- ICICI Bank Limited - India
- Banpu Public Company Limited - Thailand
- ASAPP Information Group - India
- Cigading International Bulk Terminal - Indonesia
- Ind-Barath Power Infra Limited - India
- Lanco Infratech Ltd - India
- London Commodity Brokers - England
- Straits Asia Resources Limited - Singapore
- Binh Thuan Hamico - Vietnam
- PetroVietnam Power Coal Import and Supply Company
- Karaikal Port Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Global Business Power Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Gujarat Electricity Regulatory Commission - India
- Altura Mining Limited, Indonesia
- Indian Energy Exchange, India
- Posco Energy - South Korea
- India Bulls Power Limited - India
- Siam City Cement - Thailand
- Grasim Industreis Ltd - India
- Kobexindo Tractors - Indoneisa
- Siam City Cement PLC, Thailand
- Goldman Sachs - Singapore
- Madhucon Powers Ltd - India
- Borneo Indobara - Indonesia
- The State Trading Corporation of India Ltd
- Heidelberg Cement - Germany
- The Treasury - Australian Government
- Interocean Group of Companies - India
- Aboitiz Power Corporation - Philippines
- Rio Tinto Coal - Australia
- Billiton Holdings Pty Ltd - Australia
- Thai Mozambique Logistica
- Parliament of New Zealand
- Star Paper Mills Limited - India
- Sarangani Energy Corporation, Philippines
- Anglo American - United Kingdom
- Semirara Mining and Power Corporation, Philippines
- Sojitz Corporation - Japan
- Indo Tambangraya Megah - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Energy Link Ltd, New Zealand
- Directorate General of MIneral and Coal - Indonesia
- Mjunction Services Limited - India
- Metalloyd Limited - United Kingdom
- Semirara Mining Corp, Philippines
- SMC Global Power, Philippines
- Power Finance Corporation Ltd., India
- Coastal Gujarat Power Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- GMR Energy Limited - India
- Mercuria Energy - Indonesia
- CNBM International Corporation - China
- New Zealand Coal & Carbon
- Economic Council, Georgia
- Attock Cement Pakistan Limited
- AsiaOL BioFuels Corp., Philippines
- PNOC Exploration Corporation - Philippines
- Carbofer General Trading SA - India
- Neyveli Lignite Corporation Ltd, - India
- Ambuja Cements Ltd - India
- Formosa Plastics Group - Taiwan
- Australian Commodity Traders Exchange
- SN Aboitiz Power Inc, Philippines
- Bangladesh Power Developement Board
- Mintek Dendrill Indonesia
- Kideco Jaya Agung - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Petron Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- SMG Consultants - Indonesia
- Meenaskhi Energy Private Limited - India
- Xindia Steels Limited - India
- Port Waratah Coal Services - Australia
- Timah Investasi Mineral - Indoneisa
- TeaM Sual Corporation - Philippines
- MS Steel International - UAE
- Indogreen Group - Indonesia
- Global Coal Blending Company Limited - Australia
- Therma Luzon, Inc, Philippines
- Rashtriya Ispat Nigam Limited - India
- Riau Bara Harum - Indonesia
- Independent Power Producers Association of India
- Singapore Mercantile Exchange
- Kepco SPC Power Corporation, Philippines
- Indika Energy - Indonesia
- Videocon Industries ltd - India
- Eastern Coal Council - USA
- Tata Chemicals Ltd - India
- Ministry of Transport, Egypt
- Meralco Power Generation, Philippines
- Sree Jayajothi Cements Limited - India
- Ceylon Electricity Board - Sri Lanka
- White Energy Company Limited
- Sinarmas Energy and Mining - Indonesia
- IEA Clean Coal Centre - UK
- Vizag Seaport Private Limited - India
- Tamil Nadu electricity Board
- Intertek Mineral Services - Indonesia
- Romanian Commodities Exchange
- Vijayanagar Sugar Pvt Ltd - India
- Indian Oil Corporation Limited
- Bayan Resources Tbk. - Indonesia
- Vedanta Resources Plc - India
- Bulk Trading Sa - Switzerland
- Wood Mackenzie - Singapore
- Directorate Of Revenue Intelligence - India
- PowerSource Philippines DevCo
- Simpson Spence & Young - Indonesia
- South Luzon Thermal Energy Corporation
- Cement Manufacturers Association - India
- Mercator Lines Limited - India
- Georgia Ports Authority, United States
- Oldendorff Carriers - Singapore
- Larsen & Toubro Limited - India
- Thiess Contractors Indonesia
- Essar Steel Hazira Ltd - India
- Ministry of Finance - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Jorong Barutama Greston.PT - Indonesia
- Bharathi Cement Corporation - India
- Global Green Power PLC Corporation, Philippines
- Coal and Oil Company - UAE
- GAC Shipping (India) Pvt Ltd
- Kaltim Prima Coal - Indonesia
- Bhoruka Overseas - Indonesia
- Dalmia Cement Bharat India
- Parry Sugars Refinery, India
- The University of Queensland
- Latin American Coal - Colombia
- Australian Coal Association
- Maheswari Brothers Coal Limited - India
- McConnell Dowell - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kartika Selabumi Mining - Indonesia
- Trasteel International SA, Italy
- Salva Resources Pvt Ltd - India
- Malabar Cements Ltd - India
- Eastern Energy - Thailand
- Sakthi Sugars Limited - India
- Bhatia International Limited - India
- Central Electricity Authority - India
- Kumho Petrochemical, South Korea
- Central Java Power - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Antam Resourcindo - Indonesia
- LBH Netherlands Bv - Netherlands
- Uttam Galva Steels Limited - India
- Merrill Lynch Commodities Europe
- Asmin Koalindo Tuhup - Indonesia
- Barasentosa Lestari - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Ministry of Mines - Canada
- OPG Power Generation Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- GVK Power & Infra Limited - India
- Gujarat Sidhee Cement - India
- Globalindo Alam Lestari - Indonesia
- San Jose City I Power Corp, Philippines
- Commonwealth Bank - Australia
- Marubeni Corporation - India
- Sindya Power Generating Company Private Ltd
- PTC India Limited - India
- Baramulti Group, Indonesia
- Planning Commission, India
- Chamber of Mines of South Africa
- Bukit Baiduri Energy - Indonesia
- Pendopo Energi Batubara - Indonesia
- VISA Power Limited - India
- Toyota Tsusho Corporation, Japan
- Orica Mining Services - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Chettinad Cement Corporation Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Sical Logistics Limited - India
- Africa Commodities Group - South Africa
- Indonesian Coal Mining Association
- Krishnapatnam Port Company Ltd. - India
- CIMB Investment Bank - Malaysia
- Bahari Cakrawala Sebuku - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Iligan Light & Power Inc, Philippines
- Jaiprakash Power Ventures ltd
- Leighton Contractors Pty Ltd - Australia
- Electricity Authority, New Zealand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Medco Energi Mining Internasional
- Minerals Council of Australia
- European Bulk Services B.V. - Netherlands
- Electricity Generating Authority of Thailand
- Energy Development Corp, Philippines
- Makarim & Taira - Indonesia
- Manunggal Multi Energi - Indonesia
- Coalindo Energy - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Edison Trading Spa - Italy
- Agrawal Coal Company - India
- Orica Australia Pty. Ltd.
- Jindal Steel & Power Ltd - India
- Standard Chartered Bank - UAE
- Alfred C Toepfer International GmbH - Germany
- Wilmar Investment Holdings
- Kapuas Tunggal Persada - Indonesia
- Price Waterhouse Coopers - Russia
- Bukit Makmur.PT - Indonesia
- Deloitte Consulting - India
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