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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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Tuesday, 06 April 10
ASIAN INVESTORS EYE NIGERIA MARITIME INDUSTRY
Investors from the Asian region are considering investing in the Nigerian maritime sector, which has huge opportunities and potential. One of such p ...
Monday, 05 April 10
RI TO SET REFERENCE FOR COMMODITIES - THE JAKARTA POST
The Jakarta Post reported that, Indonesia is set to help establish global reference prices for mining and agricultural commodities, with the establi ...
Monday, 05 April 10
MARCO POLO MARINE SECURES US$20 MILLION 4-YEAR COAL TRANSSHIPMENT CONTRACT
COALspot.com: Accordign to Mraco Polo Marine website, Singapore Exchange Mainboard-listed Marco Polo Marine Ltd, a growing integrated marine logisti ...
Saturday, 03 April 10
SHIPS OPENING FAREAST CONTINUE TO BE STRUGGLING FOR CARGOES - VISTAAR
COALspot.com: The dry bulk freight market continues to be under pressure and all the indices were down this week except for Cape size index which wa ...
Friday, 02 April 10
XSTRATA RAISES BENCHMARK COAL PRICE AS MUCH AS 40% - BLOOMBERG
Bloomberg reported that, Xstrata Plc, the world’s largest exporter of coal used for power, raised benchmark prices for the fuel to an unidenti ...
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- Xindia Steels Limited - India
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- Star Paper Mills Limited - India
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- Madhucon Powers Ltd - India
- Trasteel International SA, Italy
- Economic Council, Georgia
- Straits Asia Resources Limited - Singapore
- TNB Fuel Sdn Bhd - Malaysia
- Directorate Of Revenue Intelligence - India
- Global Business Power Corporation, Philippines
- PowerSource Philippines DevCo
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- Deloitte Consulting - India
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- Altura Mining Limited, Indonesia
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- Uttam Galva Steels Limited - India
- Mercator Lines Limited - India
- GVK Power & Infra Limited - India
- McConnell Dowell - Australia
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- MS Steel International - UAE
- Energy Development Corp, Philippines
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- London Commodity Brokers - England
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- Mintek Dendrill Indonesia
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- Gujarat Electricity Regulatory Commission - India
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- Kideco Jaya Agung - Indonesia
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- Independent Power Producers Association of India
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- Standard Chartered Bank - UAE
- Georgia Ports Authority, United States
- Tamil Nadu electricity Board
- Bulk Trading Sa - Switzerland
- Price Waterhouse Coopers - Russia
- Neyveli Lignite Corporation Ltd, - India
- India Bulls Power Limited - India
- Bhatia International Limited - India
- Ministry of Finance - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Rashtriya Ispat Nigam Limited - India
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- Lanco Infratech Ltd - India
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- Banpu Public Company Limited - Thailand
- Edison Trading Spa - Italy
- Ministry of Mines - Canada
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- Pipit Mutiara Jaya. PT, Indonesia
- The University of Queensland
- OPG Power Generation Pvt Ltd - India
- Savvy Resources Ltd - HongKong
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- Orica Australia Pty. Ltd.
- Indian Energy Exchange, India
- Intertek Mineral Services - Indonesia
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- Australian Commodity Traders Exchange
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- Coal and Oil Company - UAE
- Siam City Cement PLC, Thailand
- Cigading International Bulk Terminal - Indonesia
- Ambuja Cements Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- European Bulk Services B.V. - Netherlands
- Pendopo Energi Batubara - Indonesia
- Bhushan Steel Limited - India
- Parliament of New Zealand
- Africa Commodities Group - South Africa
- Maheswari Brothers Coal Limited - India
- Wood Mackenzie - Singapore
- SMG Consultants - Indonesia
- Heidelberg Cement - Germany
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- GN Power Mariveles Coal Plant, Philippines
- Samtan Co., Ltd - South Korea
- Kobexindo Tractors - Indoneisa
- Medco Energi Mining Internasional
- Indogreen Group - Indonesia
- Carbofer General Trading SA - India
- Coalindo Energy - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Oldendorff Carriers - Singapore
- Sojitz Corporation - Japan
- Bukit Makmur.PT - Indonesia
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- Alfred C Toepfer International GmbH - Germany
- Vedanta Resources Plc - India
- The Treasury - Australian Government
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- Electricity Authority, New Zealand
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- Goldman Sachs - Singapore
- Central Electricity Authority - India
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- Ministry of Transport, Egypt
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- Planning Commission, India
- Singapore Mercantile Exchange
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- Toyota Tsusho Corporation, Japan
- Thai Mozambique Logistica
- Latin American Coal - Colombia
- Kartika Selabumi Mining - Indonesia
- Global Coal Blending Company Limited - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- IEA Clean Coal Centre - UK
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- SMC Global Power, Philippines
- Minerals Council of Australia
- Sakthi Sugars Limited - India
- Romanian Commodities Exchange
- IHS Mccloskey Coal Group - USA
- Simpson Spence & Young - Indonesia
- Rio Tinto Coal - Australia
- Anglo American - United Kingdom
- Directorate General of MIneral and Coal - Indonesia
- CIMB Investment Bank - Malaysia
- TeaM Sual Corporation - Philippines
- Videocon Industries ltd - India
- Bhoruka Overseas - Indonesia
- Energy Link Ltd, New Zealand
- Petrochimia International Co. Ltd.- Taiwan
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- Global Green Power PLC Corporation, Philippines
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- White Energy Company Limited
- Timah Investasi Mineral - Indoneisa
- Power Finance Corporation Ltd., India
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- Petron Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- Commonwealth Bank - Australia
- Renaissance Capital - South Africa
- Larsen & Toubro Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Coastal Gujarat Power Limited - India
- Mercuria Energy - Indonesia
- Eastern Coal Council - USA
- VISA Power Limited - India
- Semirara Mining and Power Corporation, Philippines
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- Asia Pacific Energy Resources Ventures Inc, Philippines
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- LBH Netherlands Bv - Netherlands
- The State Trading Corporation of India Ltd
- Billiton Holdings Pty Ltd - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Grasim Industreis Ltd - India
- Kumho Petrochemical, South Korea
- Ind-Barath Power Infra Limited - India
- Chamber of Mines of South Africa
- Jindal Steel & Power Ltd - India
- Mjunction Services Limited - India
- Holcim Trading Pte Ltd - Singapore
- Bangladesh Power Developement Board
- Merrill Lynch Commodities Europe
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- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kalimantan Lumbung Energi - Indonesia
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- Port Waratah Coal Services - Australia
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- Leighton Contractors Pty Ltd - Australia
- Parry Sugars Refinery, India
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