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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, 08 March 09
AUSTRALIA'S FELIX STUDYING COAL ACQUISITIONS IN INDIA, INDONESIA
Bloomberg reported that, Felix Resources Ltd., an Australian supplier of coal to Korea and Japan, is studying acquisitions of energy coal assets in ...
Saturday, 07 March 09
THERMAL COAL PRICES MAY DROP, STANDARD CHARTERED SAYS
Bloomberg reported that, Coal prices may decline as a slump in demand for the fuel outpaces cuts in production, Standard Chartered Plc said.
Exp ...
Friday, 06 March 09
STRAITS ASIA EYES 3RD MINE
Straitstimes reported that, Mining company Straits Asia Resources is on an expansion trail to more than double its output by 2012.
Amid the econo ...
Friday, 06 March 09
INDONESIA MAY MISS 2009 COAL OUTPUT TARGET-OFFICIAL
Indonesia, the world's top thermal coal exporter, may fail to achieve its coal production target this year as the global economic crisis dents dema ...
Friday, 06 March 09
POWER FIRMS HEAD TO INDONESIA FOR COAL
The Hindu Businessline reported that, The enactment of a new, more liberal, mining legislation in Indonesia is drawing coal-starved Indian power uti ...
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- Wood Mackenzie - Singapore
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- Indonesian Coal Mining Association
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- Power Finance Corporation Ltd., India
- Australian Commodity Traders Exchange
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- Indo Tambangraya Megah - Indonesia
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- Ministry of Mines - Canada
- Goldman Sachs - Singapore
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- Eastern Coal Council - USA
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- Kaltim Prima Coal - Indonesia
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- The University of Queensland
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- Sakthi Sugars Limited - India
- LBH Netherlands Bv - Netherlands
- Bulk Trading Sa - Switzerland
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- Tamil Nadu electricity Board
- Bangladesh Power Developement Board
- Trasteel International SA, Italy
- ICICI Bank Limited - India
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- Lanco Infratech Ltd - India
- Mintek Dendrill Indonesia
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- Kideco Jaya Agung - Indonesia
- Maheswari Brothers Coal Limited - India
- Parliament of New Zealand
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- SN Aboitiz Power Inc, Philippines
- Bhatia International Limited - India
- Sree Jayajothi Cements Limited - India
- Thai Mozambique Logistica
- Samtan Co., Ltd - South Korea
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- Chamber of Mines of South Africa
- South Luzon Thermal Energy Corporation
- Ambuja Cements Ltd - India
- Videocon Industries ltd - India
- GAC Shipping (India) Pvt Ltd
- Barasentosa Lestari - Indonesia
- Aditya Birla Group - India
- European Bulk Services B.V. - Netherlands
- Makarim & Taira - Indonesia
- IEA Clean Coal Centre - UK
- Manunggal Multi Energi - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Rio Tinto Coal - Australia
- Minerals Council of Australia
- Indika Energy - Indonesia
- Pendopo Energi Batubara - Indonesia
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- Holcim Trading Pte Ltd - Singapore
- Interocean Group of Companies - India
- Intertek Mineral Services - Indonesia
- Agrawal Coal Company - India
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- Global Coal Blending Company Limited - Australia
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- Australian Coal Association
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- Ind-Barath Power Infra Limited - India
- Economic Council, Georgia
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- Merrill Lynch Commodities Europe
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- Indian Oil Corporation Limited
- IHS Mccloskey Coal Group - USA
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- Directorate Of Revenue Intelligence - India
- SMC Global Power, Philippines
- Therma Luzon, Inc, Philippines
- Carbofer General Trading SA - India
- Eastern Energy - Thailand
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- Africa Commodities Group - South Africa
- Meralco Power Generation, Philippines
- Electricity Authority, New Zealand
- The State Trading Corporation of India Ltd
- Coastal Gujarat Power Limited - India
- San Jose City I Power Corp, Philippines
- Commonwealth Bank - Australia
- Directorate General of MIneral and Coal - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Dalmia Cement Bharat India
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- Electricity Generating Authority of Thailand
- Formosa Plastics Group - Taiwan
- The Treasury - Australian Government
- Orica Australia Pty. Ltd.
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