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Wednesday, 03 February 10
RECOVERY IN INDONESIAN MINING SECTOR EXPECTED TO BOOST SALES, UNITED TRACTORS SAYS
 PT United Tractors, the country’s biggest supplier of heavy equipment, said on Tuesday that it expected sales to increase 15 percent this year thanks to rising demand from the mining sector.
“We have seen a recovery in the mining business. Therefore, the company is confident about booking higher sales this year,” said Sara K Loebis, the company’s corporate secretary.
Heavy machinery accounts for 40 percent of United Tractors’ revenue. Sales totaled 2,600 units in first nine months of 2009, down 31 percent compared with the same period in 2008. Total sales last year were projected to decline 28 percent from 2008.
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“We have seen a recovery in the mining business. Therefore, the company is confident about booking higher sales this year”
Sara K Loebis
Corporate Secretary, United Tractors
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United Tractors expects its mining contractor, PT Pamapersada Nusantara, to increase its coal production by 5.8 percent this year, to 72 million tons from 68 million tons last year. The company’s earnings as a contractor are based on output. United Tractors did not project 2010 revenue for Pamapersada Nusantara, whose contracting business provides 50 percent of its revenue.
The remaining 10 percent of United Tractors’ revenue comes from its coal mines. Its mining division is now negotiating for two concessions in Kalimantan, Sara said.
“The acquisition process is currently under way,” she said. “One mine is under price negotiation while the other mine is under due diligence.”
Sara said the company expected to sell 3.5 million tons of its coal in 2010.
In November, United Tractors said it would spend the bulk of its $430 million in planned capital expenditure this year on its contract-mining business.
“We will spend $30 million on our heavy machinery unit and $400 million on our contract-mining unit,” said Gideon Hasan, the company’s finance director.
The $30 million will be internally financed, he said, while the $400 million will largely come from vendor financing. Vendor financing refers to the lending of money by a supplier so a customer can buy its products.
Source: The Jakarta Globe
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Thursday, 28 January 10
COAL - VIETNAM / TRADE
Vietnam expects to turn into a coal importer within three years, spurred by an industrial boom and rising power consumption, a senior executive with ...
Thursday, 28 January 10
JAPAN STEELMAKERS OPPOSE QUARTERLY COAL CONTRACTS
Japanese steelmakers oppose miner BHP Billiton's attempt to switch to quarterly contracts from annual deals for supplying coal, as the change would ...
Thursday, 28 January 10
BHP MAY SELL 25% STAKE IN INDONESIAN COAL PROJECT
BHP Billiton Ltd. plans to sell only a 25 percent stake in a coal project in Indonesia as it wants to retain control of the asset, said Indra Dianna ...
Thursday, 28 January 10
TRANSNET ASPIRES TO 81MT/Y COAL EXPORT CAPACITY
South African State-owned rail transport enterprise Transnet wants to increase coal-line rail capacity to 81-million tons a year as part of its Quan ...
Wednesday, 27 January 10
ASIA'S 2010 STEAM COAL IMPORTS TO REACH 460 MLN T
* China to import up to 100 mln T of steam coal in 2010
* China, India seen investing in southern Africa assets
Asian imports of steam coal will ...
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