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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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Monday, 06 April 09
RICHARDS BAY COAL TERMINAL EXPORTS ROSE 5 PERCENT IN MARCH - BLOOMBERG
South Africa’s Richards Bay Coal Terminal, the world’s largest coal-export facility, shipped 5 percent more coal in March than the same ...
Monday, 06 April 09
INDIA'S OSWAL CHEM EYES INDONESIAN COAL MINES -ECONOMICTIMES
Oswal Chemicals and Fertilisers (OCFL), part of Abhay Oswal-led Oswal group, has initiated talks with three separate Indonesian coal firms to ...
Thursday, 02 April 09
FOREIGNERS ALSO CHEER FOR INDONESIA'S THE NEW MINING LAW - MAJALA TAMBANG
Three mining giants, Australia's Rio Tinto along with Canada's Barrick Gold and Southern Arc, are among foreign corporations currently applying fo ...
Wednesday, 01 April 09
INDONESIAN GOVERNMENT REVISES MINING REVENUE TARGET DOWN 26% - THE JAKARTA POST
Government income from mining this year, excluding taxes, is expected to drop by about 26 percent to Rp 11 trillion ($957 million), primarily becaus ...
Wednesday, 01 April 09
INDONESIAN OFFICIAL CLAIMS NEW LEGISLATION IS VINDICATED AS OVERSEAS FIRMS LINE UP FOR MINING LICENSES - THE JAKARTA GLOBE
The Energy and Mineral Resources Ministry is expected to issue six mining licenses under the country’s new mining law over the next two months ...
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- SN Aboitiz Power Inc, Philippines
- GAC Shipping (India) Pvt Ltd
- MS Steel International - UAE
- Rashtriya Ispat Nigam Limited - India
- Manunggal Multi Energi - Indonesia
- LBH Netherlands Bv - Netherlands
- Xindia Steels Limited - India
- Commonwealth Bank - Australia
- Makarim & Taira - Indonesia
- Goldman Sachs - Singapore
- Grasim Industreis Ltd - India
- Aditya Birla Group - India
- Bayan Resources Tbk. - Indonesia
- TeaM Sual Corporation - Philippines
- Malabar Cements Ltd - India
- The Treasury - Australian Government
- Indogreen Group - Indonesia
- Indian Oil Corporation Limited
- Jaiprakash Power Ventures ltd
- Riau Bara Harum - Indonesia
- Karaikal Port Pvt Ltd - India
- GVK Power & Infra Limited - India
- ICICI Bank Limited - India
- Global Coal Blending Company Limited - Australia
- CIMB Investment Bank - Malaysia
- Straits Asia Resources Limited - Singapore
- Wilmar Investment Holdings
- Global Green Power PLC Corporation, Philippines
- Singapore Mercantile Exchange
- Carbofer General Trading SA - India
- Videocon Industries ltd - India
- Bukit Makmur.PT - Indonesia
- Sindya Power Generating Company Private Ltd
- Gujarat Mineral Development Corp Ltd - India
- Merrill Lynch Commodities Europe
- Baramulti Group, Indonesia
- Sojitz Corporation - Japan
- Wood Mackenzie - Singapore
- The State Trading Corporation of India Ltd
- GMR Energy Limited - India
- Bukit Baiduri Energy - Indonesia
- Port Waratah Coal Services - Australia
- Barasentosa Lestari - Indonesia
- Sarangani Energy Corporation, Philippines
- White Energy Company Limited
- Independent Power Producers Association of India
- Billiton Holdings Pty Ltd - Australia
- Africa Commodities Group - South Africa
- India Bulls Power Limited - India
- Coalindo Energy - Indonesia
- Indika Energy - Indonesia
- PowerSource Philippines DevCo
- Anglo American - United Kingdom
- Economic Council, Georgia
- Salva Resources Pvt Ltd - India
- Australian Commodity Traders Exchange
- Jindal Steel & Power Ltd - India
- Star Paper Mills Limited - India
- Cement Manufacturers Association - India
- Electricity Generating Authority of Thailand
- Edison Trading Spa - Italy
- PetroVietnam Power Coal Import and Supply Company
- Ministry of Transport, Egypt
- Semirara Mining and Power Corporation, Philippines
- Parry Sugars Refinery, India
- Bhoruka Overseas - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- GN Power Mariveles Coal Plant, Philippines
- Coal and Oil Company - UAE
- Posco Energy - South Korea
- Cigading International Bulk Terminal - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Neyveli Lignite Corporation Ltd, - India
- Sakthi Sugars Limited - India
- Borneo Indobara - Indonesia
- Maheswari Brothers Coal Limited - India
- Simpson Spence & Young - Indonesia
- Bharathi Cement Corporation - India
- PNOC Exploration Corporation - Philippines
- AsiaOL BioFuels Corp., Philippines
- Metalloyd Limited - United Kingdom
- Ceylon Electricity Board - Sri Lanka
- Sical Logistics Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Vizag Seaport Private Limited - India
- Bhushan Steel Limited - India
- Mintek Dendrill Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Kobexindo Tractors - Indoneisa
- Semirara Mining Corp, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Toyota Tsusho Corporation, Japan
- Asmin Koalindo Tuhup - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- OPG Power Generation Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Gujarat Sidhee Cement - India
- TNB Fuel Sdn Bhd - Malaysia
- Ind-Barath Power Infra Limited - India
- Romanian Commodities Exchange
- Electricity Authority, New Zealand
- Gujarat Electricity Regulatory Commission - India
- Thiess Contractors Indonesia
- Indian Energy Exchange, India
- Directorate Of Revenue Intelligence - India
- Indonesian Coal Mining Association
- Kalimantan Lumbung Energi - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Tata Chemicals Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Central Electricity Authority - India
- Savvy Resources Ltd - HongKong
- Kideco Jaya Agung - Indonesia
- London Commodity Brokers - England
- Trasteel International SA, Italy
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- San Jose City I Power Corp, Philippines
- Renaissance Capital - South Africa
- The University of Queensland
- Petrochimia International Co. Ltd.- Taiwan
- International Coal Ventures Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- Mercator Lines Limited - India
- Energy Development Corp, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Mercuria Energy - Indonesia
- Central Java Power - Indonesia
- Larsen & Toubro Limited - India
- Vedanta Resources Plc - India
- Eastern Energy - Thailand
- Georgia Ports Authority, United States
- CNBM International Corporation - China
- Antam Resourcindo - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Global Business Power Corporation, Philippines
- Uttam Galva Steels Limited - India
- Altura Mining Limited, Indonesia
- Dalmia Cement Bharat India
- SMG Consultants - Indonesia
- Orica Mining Services - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Kaltim Prima Coal - Indonesia
- Marubeni Corporation - India
- IEA Clean Coal Centre - UK
- Deloitte Consulting - India
- Ministry of Finance - Indonesia
- Aboitiz Power Corporation - Philippines
- Kartika Selabumi Mining - Indonesia
- Bhatia International Limited - India
- McConnell Dowell - Australia
- Chamber of Mines of South Africa
- Latin American Coal - Colombia
- IHS Mccloskey Coal Group - USA
- Meenaskhi Energy Private Limited - India
- Globalindo Alam Lestari - Indonesia
- Medco Energi Mining Internasional
- Standard Chartered Bank - UAE
- Bulk Trading Sa - Switzerland
- VISA Power Limited - India
- Power Finance Corporation Ltd., India
- PTC India Limited - India
- Ministry of Mines - Canada
- Mjunction Services Limited - India
- ASAPP Information Group - India
- Oldendorff Carriers - Singapore
- Parliament of New Zealand
- New Zealand Coal & Carbon
- Holcim Trading Pte Ltd - Singapore
- Chettinad Cement Corporation Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Planning Commission, India
- Heidelberg Cement - Germany
- Sree Jayajothi Cements Limited - India
- Siam City Cement - Thailand
- Alfred C Toepfer International GmbH - Germany
- Orica Australia Pty. Ltd.
- Sinarmas Energy and Mining - Indonesia
- Kepco SPC Power Corporation, Philippines
- Samtan Co., Ltd - South Korea
- Thai Mozambique Logistica
- Price Waterhouse Coopers - Russia
- Indo Tambangraya Megah - Indonesia
- Energy Link Ltd, New Zealand
- Rio Tinto Coal - Australia
- Bangladesh Power Developement Board
- Ambuja Cements Ltd - India
- South Luzon Thermal Energy Corporation
- Tamil Nadu electricity Board
- Iligan Light & Power Inc, Philippines
- Intertek Mineral Services - Indonesia
- Minerals Council of Australia
- Siam City Cement PLC, Thailand
- Agrawal Coal Company - India
- Attock Cement Pakistan Limited
- Eastern Coal Council - USA
- Essar Steel Hazira Ltd - India
- Formosa Plastics Group - Taiwan
- Meralco Power Generation, Philippines
- Petron Corporation, Philippines
- Interocean Group of Companies - India
- Binh Thuan Hamico - Vietnam
- Therma Luzon, Inc, Philippines
- European Bulk Services B.V. - Netherlands
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Pendopo Energi Batubara - Indonesia
- Kumho Petrochemical, South Korea
- Banpu Public Company Limited - Thailand
- Miang Besar Coal Terminal - Indonesia
- Lanco Infratech Ltd - India
- Timah Investasi Mineral - Indoneisa
- Madhucon Powers Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Australian Coal Association
- Kohat Cement Company Ltd. - Pakistan
- SMC Global Power, Philippines
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