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Thursday, 04 February 10
BUKIT ASAM GOES SHOPPING FOR MORE COAL MINES
 State-owned coal miner PT Tambang Batubara Bukit Asam has set aside Rp 1.5 trillion ($162 million) to acquire two coal mines in East Kalimantan, president director Sukrisno said on Wednesday.
The acquisitions, which Bukit Asam is aiming to complete in 2011, would help the company achieve its target of more than tripling annual production to 50 million tons of coal by 2014, he said.
“The Rp 1.5 trillion is allocated from our internal budget,” Sukrisno said. “After the Kalimantan acquisitions are finished, we will seek to acquire coal mines in Africa and Australia.”
He declined to name the two East Kalimantan mines but said negotiations were already being conducted.
Bukit Asam has previously said that it was interested in acquiring BHP Billiton’s stake in the Maruwai mine in Central Kalimantan. Sukrisno said the company had completed due diligence on the Maruwai stake and submitted a conditional offer to BHP in November.
PT Ciptadana Sekuritas analyst Sylvia Darmaji said Bukit Asam’s acquisition plans, both in Kalimantan and overseas, were quite feasible.
“If they seek loans for their acquisitions, it won’t be difficult for them as they have a clear financial record,” she said. However the feasibility of the planned international acquisitions would depend on the size of the mines, Sylvia said.
| “6.14 million tons of Bukit Asam coal will be exported to Japan, Taiwan, Malaysia, India, South Korea, Thailand and Pakistan in 2010” - PTBA |
Bukit Asam estimates that its 2009 net profit will increase by 50 percent from Rp 1.7 trillion in 2008, while revenue should increase at least 10 percent from Rp 9 trillion in 2008, he said.
The country’s third-largest listed coal miner, Bukit Asam is aiming to grow coal production from an expected 14 million tons in 2010 to 20.1 million in 2011, 25.1 million in 2013 and then a big jump to 50 million tons in 2014.
The company is also building two coal-fired electricity-generating plants near its mines in South Sumatra with capacities of 2,400 and 200 megawatts.
Bukit Asam is in negotiations with state electricity company PT Perusahaan Listrik Negara about the price PLN will pay for electricity from the plants.
Bukit Asam is also aiming to build three small power plants — with generating capacities of 30 MW, 16 MW and 20 MW — for its own use.
Of the 14 million tons of coal Bukit Asam expects to produce this year, 7.8 million tons will be sold domestically and 6.14 million tons will be exported to Japan, Taiwan, Malaysia, India, South Korea, Thailand and Pakistan. Japan is the biggest buyer. It is expected to take 1.3 million tons.
Source: The Jakarta Globe
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Saturday, 13 February 10
INDONESIA ISSUES NEW MINING REGULATIONS
Indonesia has issued two new regulations under its mining law to allow firms to start obtaining mining permits, in a move that should increase certa ...
Saturday, 13 February 10
COAL INDIA 2010/11 COAL IMPORTS TO JUMP - EXEC
Coal imports by state-run Coal India Ltd are likely to soar to 6-10 million tonnes in fiscal 2010/11 from an expected 1.5-1.7 million tonnes in the ...
Saturday, 13 February 10
RULES MAY FREE $10B OF MINING PROJECTS IN INDONESIA
The government announced on Friday that it had issued two implementing regulations for the new Mining Law that will clear the way for the developmen ...
Saturday, 13 February 10
INDONESIA OFFERS TAX INCENTIVES FOR RENEWABLE ENERGY
Indonesia is offering tax incentives to develop renewable energy projects, including geothermal energy, to cut dependency on fossil fuels, a decree ...
Friday, 12 February 10
MECHEL EYES 2010 COAL OUTPUT AT 28-29 MLN T
Russian steel and coking coal producer Mechel expects coal output to reach 28-29 million tonnes this year, returning to pre-crisis levels thanks to ...
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