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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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Monday, 25 January 10
MINING GROUPS MAY SEEK JUDICIAL REVIEW OF 2009 LAW
Indonesia’s mining associations said on Wednesday that they planned to seek a judicial review of the 2009 Mining Law this year if they are una ...
Monday, 25 January 10
INDONESIAN GOVERNMENT TO ISSUE REGULATION FOR IMPLEMENTATION OF MINERAL AND COAL MINING BUSINESS ACTIVITIES LAW NO.4 / 2009 SOON
COALspot.com (Indonesia): The government regulation concerning implementation of mineral and coal mining business activities Law no.4 / 2009 is expe ...
Monday, 25 January 10
DUQM IWPP'S COAL REQUIREMENTS PROJECTED AT 3MT PER YEAR
Oman's first coal-fired Independent Water and Power Project (IWPP) planned at Duqm is envisaged to have a feedstock requirement of around 3 million ...
Monday, 25 January 10
THE FUTURES FOR CAPE, PANAMAX AND SUPRAMAX FOR THREE YEARS (2010 - 2012) WAS AT AROUND US$ 32,000, US$ 20,000 AND US$ 17,000 PER DAY RESPECTIVELY
COALspot.com ( Singapore): The freight market remained flat this week the market slight soft.
BDI INDEX
The BDI was down by 95 points and closed ...
Saturday, 23 January 10
COAL CAMARADERIE
Union coal minister Shriprakash Jaiswal feels Asian countries should join hands in developing minerals, particularly coal.
At the third Asian Min ...
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