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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 $400 million will largely come from vendor financing. Vendor financing refers to the lending of money by a supplier so a customer can buy its products.
Source: The Jakarta Globe
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Friday, 22 January 10
ENERGY ADVISORY COUNCIL MULLS - COAL EXPORT BAN
The National Energy Council, which advises the House of Representatives and the president on energy issues, has begun to debate a proposal to ban ex ...
Friday, 22 January 10
MERCATOR EYES MORE COAL MINES IN INDONESIA
India’s second-largest private shipping company Mercator Lines is looking at acquiring more coal mines in Indonesia as part of its strategy&nb ...
Friday, 22 January 10
BHAKTI ENERGI IN TALKS OVER COAL VENTURES IN KALIMANTAN
PT Bhakti Energi Persada, one of Indonesia’s biggest miners of brown coal, revealed on Thursday that it was in talks to form a joint venture w ...
Friday, 22 January 10
SHENHUA ENERGY 09 YIELDED 210MN TONS COMMODITY COAL
China Shenhua Energy Co., Ltd. yielded 210 million tons of commodity coal in 2009, hiking 13.2% year on year, the Chinese energy titan announced tod ...
Friday, 22 January 10
JSW ENERGY TO INVEST RS 4,500 CRORE IN COAL MINES ABROAD
The Sajjan Jindal-promoted JSW Energy is planning an investment of Rs 4,500 crore (US$ 978,260,869) to acquire coal mines abroad and another of Rs 1 ...
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