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Wednesday, 31 March 10
ITMG TO UP COAL OUTPUT DESPITE PERMIT PROBLEMS - THE JAKARTA POST
 The Jakarta Post reported that, the country’s third largest coal producer PT Indo Tambang Raya Megah (ITMG) said it can raise output although facing land permit problems on a site controlled by its subsidiary, PT Jorong Barutama Greston.
ITMG president director Somyot Ruchirawat told reporters after a shareholders meeting in Jakarta that the land permit problem in South Kalimantan would slightly affect the subsidiary’s coal output.
“Jorong will contribute 2 million tons of coal this year, down from 3.1 million tons a year earlier,” he said.
Jorong is said to have received a permit from the forestry ministry for operating its site but has yet to adhere to a government regulation on spatial planning.
Regardless of this, Somyot said ITMG would be able to produce 23 million tons of coal this year, up from 21 million tons last year, thanks to increased output from other subsidiaries: PT Indominco Mandiri, PT Trubaindo Coal Mining, PT Kitadin Embalut and PT Bharinto Ekatama.
To fulfill production targets, according to Ruchiwarat, ITMG will optimize its production from existing coal mines including a site controlled by Bharinto, which will reach the production stage in April.
Trubaindo is expected to contribute 6 million tons of coal this year, while Indominco will contribute 13.2 million tons, and Embalut will contribute 1.2 million tons.
“However, we expect our new mines in Bharinto will produce 200,000 tons this year,” Ruchiwarat said, adding the new site would be fully operational in 2011 and produce around 2 million tons of coal.
ITMG acknowledged that another new coal mine, Tandung Mayang in Kutai, East Kalimantan, will produce about 1 million tons in 2011.
Indo Tambangraya currently has about 294 million tons in its coal reserves in Kalimantan. The company sells its coal mostly to Japan, China, Taiwan and India.
Ruchiwarat refused to disclose the company’s revenue target this year, saying it depended on coal prices in the international market. The company predicts the coal price might be around US$60-$75 per ton in the international market, lower than last year’s average $71.5 per ton.
This year, the company aims to complete two projects in Bontang, Kalimantan; a coal terminal expansion costing $41 million in investment and a coal power plant requiring $6 million. “The coal terminal will be finished in the first quarter while the power plant is targeted to be running by mid-year,” said director Edward Manurung.
ITMG will allocate $101 million of capital expenditure (capex) this year, which mostly will be used for infrastructure and a coal washing plant for Trubaindo. The capex will be internally financed, as the firm has $429 million in cash reserves.
Based on the company’s financial performance, in 2009, Indo Tambangraya booked $336 million in net income, a 43 percent increase from $235 million a year earlier, while its gross revenue rose by 15 percent from $1.3 trillion in 2008.
Edward said that the main contributing factor to higher net profit was increased coal sales volume, which increased by 18 percent to 21 million tons from 17.7 million tons in 2008.
On Monday, ITMG, through its shareholders meeting, agreed to a dividend of Rp 1,964 per share.
Source: The Jakarta Post (By: Nani Afrida)
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Friday, 16 April 10
KRISHNAPATNAM PORT IS IRONING ITS WAY INTO RECORD BOOKS
COALspot.com: Krishnapatnam Port achieved a new benchmark by loading 60,021 MT of Iron Ore fines in just 24 hrs surpassing its previous record of 54 ...
Friday, 16 April 10
RBCT COAL DISPUTE RESOLVED - MININGMX
Miningmx reported that, the long-simmering spat over the coal allocation for producers who will use the expanded facilities at Richards Bay Coal Ter ...
Friday, 16 April 10
COAL INDIA SELECTS MERCHANT BANKERS TO ACQUIRE OVERSEAS ASSETS -THE HINDU
An investment of about $1.8 billion is expected to be made in these deals
The Hindu reported that, Bank of America-Merill Lynch, Royal Bank of Sc ...
Thursday, 15 April 10
MAJOR THERMAL COAL CONTRACT AT 40% HIGHER PRICE THAN LAST YEAR - BUSINESS STANDARD
Business-Standard reported that, India is expected to import nearly 60 million tonnes of thermal coal this year.
After coking coal and iron ...
Thursday, 15 April 10
RICHARDS BAY ROUNDS BACK TO INDIA SUPRAS WERE FIXED AT MID 20'S
Handy
The BSI remains in a positive momentum and the Atlantic remains unchanged from last week. Fronthaul grain is active which is keeping ballast ...
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- Asia Pacific Energy Resources Ventures Inc, Philippines
- Grasim Industreis Ltd - India
- Indo Tambangraya Megah - Indonesia
- Mjunction Services Limited - India
- Posco Energy - South Korea
- Energy Link Ltd, New Zealand
- Makarim & Taira - Indonesia
- Coalindo Energy - Indonesia
- Chettinad Cement Corporation Ltd - India
- Sindya Power Generating Company Private Ltd
- Marubeni Corporation - India
- Barasentosa Lestari - Indonesia
- Gujarat Sidhee Cement - India
- Coastal Gujarat Power Limited - India
- MS Steel International - UAE
- Mintek Dendrill Indonesia
- Dalmia Cement Bharat India
- Africa Commodities Group - South Africa
- Pendopo Energi Batubara - Indonesia
- Petron Corporation, Philippines
- Orica Australia Pty. Ltd.
- AsiaOL BioFuels Corp., Philippines
- VISA Power Limited - India
- India Bulls Power Limited - India
- Tata Chemicals Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Bukit Makmur.PT - Indonesia
- Indika Energy - Indonesia
- Siam City Cement PLC, Thailand
- Salva Resources Pvt Ltd - India
- Borneo Indobara - Indonesia
- Iligan Light & Power Inc, Philippines
- Mercuria Energy - Indonesia
- Indian Oil Corporation Limited
- Minerals Council of Australia
- Attock Cement Pakistan Limited
- Ind-Barath Power Infra Limited - India
- Electricity Authority, New Zealand
- London Commodity Brokers - England
- Commonwealth Bank - Australia
- Sinarmas Energy and Mining - Indonesia
- Planning Commission, India
- Indonesian Coal Mining Association
- Merrill Lynch Commodities Europe
- Globalindo Alam Lestari - Indonesia
- Mercator Lines Limited - India
- Latin American Coal - Colombia
- Jindal Steel & Power Ltd - India
- Anglo American - United Kingdom
- Global Green Power PLC Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- Agrawal Coal Company - India
- Kapuas Tunggal Persada - Indonesia
- Thiess Contractors Indonesia
- Orica Mining Services - Indonesia
- Antam Resourcindo - Indonesia
- PNOC Exploration Corporation - Philippines
- Central Electricity Authority - India
- CIMB Investment Bank - Malaysia
- The University of Queensland
- PowerSource Philippines DevCo
- Vijayanagar Sugar Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Singapore Mercantile Exchange
- Straits Asia Resources Limited - Singapore
- GMR Energy Limited - India
- Independent Power Producers Association of India
- Australian Coal Association
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kideco Jaya Agung - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Vedanta Resources Plc - India
- New Zealand Coal & Carbon
- Sical Logistics Limited - India
- Leighton Contractors Pty Ltd - Australia
- McConnell Dowell - Australia
- Economic Council, Georgia
- Aditya Birla Group - India
- Meenaskhi Energy Private Limited - India
- Ceylon Electricity Board - Sri Lanka
- Tamil Nadu electricity Board
- Jorong Barutama Greston.PT - Indonesia
- Bharathi Cement Corporation - India
- Coal and Oil Company - UAE
- Xindia Steels Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Kobexindo Tractors - Indoneisa
- Bulk Trading Sa - Switzerland
- The State Trading Corporation of India Ltd
- Essar Steel Hazira Ltd - India
- Eastern Energy - Thailand
- Power Finance Corporation Ltd., India
- Chamber of Mines of South Africa
- Gujarat Electricity Regulatory Commission - India
- Price Waterhouse Coopers - Russia
- SN Aboitiz Power Inc, Philippines
- Bukit Baiduri Energy - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Heidelberg Cement - Germany
- Bayan Resources Tbk. - Indonesia
- ICICI Bank Limited - India
- GVK Power & Infra Limited - India
- Australian Commodity Traders Exchange
- Maheswari Brothers Coal Limited - India
- Central Java Power - Indonesia
- Manunggal Multi Energi - Indonesia
- Intertek Mineral Services - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Karaikal Port Pvt Ltd - India
- Larsen & Toubro Limited - India
- Bhoruka Overseas - Indonesia
- Wood Mackenzie - Singapore
- Georgia Ports Authority, United States
- Goldman Sachs - Singapore
- GAC Shipping (India) Pvt Ltd
- Eastern Coal Council - USA
- IEA Clean Coal Centre - UK
- Edison Trading Spa - Italy
- Bhatia International Limited - India
- Krishnapatnam Port Company Ltd. - India
- Therma Luzon, Inc, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Kartika Selabumi Mining - Indonesia
- LBH Netherlands Bv - Netherlands
- OPG Power Generation Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- TeaM Sual Corporation - Philippines
- Jaiprakash Power Ventures ltd
- Simpson Spence & Young - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Oldendorff Carriers - Singapore
- Kepco SPC Power Corporation, Philippines
- Videocon Industries ltd - India
- Vizag Seaport Private Limited - India
- ASAPP Information Group - India
- Lanco Infratech Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Kumho Petrochemical, South Korea
- San Jose City I Power Corp, Philippines
- Meralco Power Generation, Philippines
- Electricity Generating Authority of Thailand
- Malabar Cements Ltd - India
- Semirara Mining Corp, Philippines
- Trasteel International SA, Italy
- The Treasury - Australian Government
- Global Coal Blending Company Limited - Australia
- Savvy Resources Ltd - HongKong
- Rio Tinto Coal - Australia
- Wilmar Investment Holdings
- PTC India Limited - India
- White Energy Company Limited
- Parliament of New Zealand
- Altura Mining Limited, Indonesia
- Thai Mozambique Logistica
- Metalloyd Limited - United Kingdom
- Carbofer General Trading SA - India
- Standard Chartered Bank - UAE
- Energy Development Corp, Philippines
- Madhucon Powers Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Bangladesh Power Developement Board
- Uttam Galva Steels Limited - India
- Sakthi Sugars Limited - India
- Siam City Cement - Thailand
- CNBM International Corporation - China
- Binh Thuan Hamico - Vietnam
- Baramulti Group, Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Ministry of Finance - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Toyota Tsusho Corporation, Japan
- Global Business Power Corporation, Philippines
- Semirara Mining and Power Corporation, Philippines
- Port Waratah Coal Services - Australia
- Deloitte Consulting - India
- Billiton Holdings Pty Ltd - Australia
- Directorate Of Revenue Intelligence - India
- Rashtriya Ispat Nigam Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Sarangani Energy Corporation, Philippines
- Riau Bara Harum - Indonesia
- Parry Sugars Refinery, India
- Sree Jayajothi Cements Limited - India
- SMC Global Power, Philippines
- Star Paper Mills Limited - India
- Renaissance Capital - South Africa
- Interocean Group of Companies - India
- Cement Manufacturers Association - India
- Romanian Commodities Exchange
- Sojitz Corporation - Japan
- European Bulk Services B.V. - Netherlands
- Indian Energy Exchange, India
- Banpu Public Company Limited - Thailand
- Formosa Plastics Group - Taiwan
- South Luzon Thermal Energy Corporation
- Bhushan Steel Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- SMG Consultants - Indonesia
- Indogreen Group - Indonesia
- Ambuja Cements Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Aboitiz Power Corporation - Philippines
- Timah Investasi Mineral - Indoneisa
- International Coal Ventures Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Ministry of Mines - Canada
- Ministry of Transport, Egypt
- Medco Energi Mining Internasional
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kalimantan Lumbung Energi - Indonesia
- Samtan Co., Ltd - South Korea
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