We welcome article submissions from experts in the areas of coal, mining,
shipping, etc.
To Submit your article please click here.
|
|
|
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)
If you believe an article violates your rights or the rights of others, please contact us.
|
|
Wednesday, 31 March 10
COAL INDIA MULLS JOINT VENTURE WITH RIO TINTO AND PEABODY - DNA
DNA reported that, Coal India Ltd. (CIL) has finalised two key contenders for its international joint venture (JV) in Australian and US each. The co ...
Wednesday, 31 March 10
DRY BULK MARKET STILL MODERATELY FALLING, BUT POSITIVE SIGNS APPEAR ON THE HORIZON - HELLENIC SHIPPING
The irregularities of the current dry bulk market have been more than evident in the fact that panamax vessels today earn more than their larger cap ...
Wednesday, 31 March 10
INDIKA ENERGYS PROFIT HIT BY FOREX LOSS AND CABOTAGE - THE JAKARTA GLOBE
The Jakarta Globe reportd that, PT Indika Energy posted a 30 percent drop in 2009 net profit due to a foreign exchange loss and impairment of intang ...
Tuesday, 30 March 10
ANALYST SEES BDI LIFT, SUGGESTS DRY BULK SHORT SQUEEZE
Analysts at Credit Suisse are bullish on Diana and see a potential short squeeze elsewhere in the sector. The Baltic Dry Index (BDI) -- an industry ...
Tuesday, 30 March 10
CHINA'S DROUGHT RAISES COAL PRICES, LOWERS HYDROPOWER
Bloomberg reported that, Benchmark coal prices at Qinhuangdao, China’s largest port handling the fuel, rose for the first time in 10 weeks aft ...
|
|
|
Showing 5911 to 5915 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Indonesian Coal Mining Association
- Merrill Lynch Commodities Europe
- Lanco Infratech Ltd - India
- Ministry of Finance - Indonesia
- Heidelberg Cement - Germany
- Kobexindo Tractors - Indoneisa
- Wilmar Investment Holdings
- Meralco Power Generation, Philippines
- Indogreen Group - Indonesia
- Sindya Power Generating Company Private Ltd
- Eastern Energy - Thailand
- Sojitz Corporation - Japan
- Vizag Seaport Private Limited - India
- GVK Power & Infra Limited - India
- Jindal Steel & Power Ltd - India
- Altura Mining Limited, Indonesia
- Savvy Resources Ltd - HongKong
- Neyveli Lignite Corporation Ltd, - India
- Central Java Power - Indonesia
- Energy Link Ltd, New Zealand
- Wood Mackenzie - Singapore
- Sical Logistics Limited - India
- Straits Asia Resources Limited - Singapore
- Marubeni Corporation - India
- Mercator Lines Limited - India
- London Commodity Brokers - England
- Maharashtra Electricity Regulatory Commission - India
- Maheswari Brothers Coal Limited - India
- Bangladesh Power Developement Board
- Renaissance Capital - South Africa
- Ministry of Transport, Egypt
- PetroVietnam Power Coal Import and Supply Company
- ASAPP Information Group - India
- Power Finance Corporation Ltd., India
- Economic Council, Georgia
- Port Waratah Coal Services - Australia
- Bayan Resources Tbk. - Indonesia
- Ind-Barath Power Infra Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Malabar Cements Ltd - India
- Eastern Coal Council - USA
- Indian Oil Corporation Limited
- Bahari Cakrawala Sebuku - Indonesia
- CNBM International Corporation - China
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Central Electricity Authority - India
- Minerals Council of Australia
- Baramulti Group, Indonesia
- Thiess Contractors Indonesia
- Global Business Power Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- GN Power Mariveles Coal Plant, Philippines
- Therma Luzon, Inc, Philippines
- Mercuria Energy - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Antam Resourcindo - Indonesia
- Semirara Mining Corp, Philippines
- Billiton Holdings Pty Ltd - Australia
- India Bulls Power Limited - India
- Romanian Commodities Exchange
- Parliament of New Zealand
- Standard Chartered Bank - UAE
- Indika Energy - Indonesia
- McConnell Dowell - Australia
- Africa Commodities Group - South Africa
- Semirara Mining and Power Corporation, Philippines
- Essar Steel Hazira Ltd - India
- Anglo American - United Kingdom
- Kumho Petrochemical, South Korea
- Orica Australia Pty. Ltd.
- Parry Sugars Refinery, India
- Uttam Galva Steels Limited - India
- Latin American Coal - Colombia
- Agrawal Coal Company - India
- Siam City Cement - Thailand
- Manunggal Multi Energi - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Madhucon Powers Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Videocon Industries ltd - India
- South Luzon Thermal Energy Corporation
- Simpson Spence & Young - Indonesia
- Oldendorff Carriers - Singapore
- Rashtriya Ispat Nigam Limited - India
- Gujarat Sidhee Cement - India
- Meenaskhi Energy Private Limited - India
- Siam City Cement PLC, Thailand
- Star Paper Mills Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- The Treasury - Australian Government
- Indo Tambangraya Megah - Indonesia
- VISA Power Limited - India
- Alfred C Toepfer International GmbH - Germany
- Interocean Group of Companies - India
- Australian Coal Association
- Riau Bara Harum - Indonesia
- Bhushan Steel Limited - India
- Electricity Authority, New Zealand
- Sarangani Energy Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- Samtan Co., Ltd - South Korea
- Price Waterhouse Coopers - Russia
- GMR Energy Limited - India
- The University of Queensland
- Commonwealth Bank - Australia
- PowerSource Philippines DevCo
- Vedanta Resources Plc - India
- Bharathi Cement Corporation - India
- San Jose City I Power Corp, Philippines
- Sinarmas Energy and Mining - Indonesia
- Makarim & Taira - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Global Green Power PLC Corporation, Philippines
- Chamber of Mines of South Africa
- Orica Mining Services - Indonesia
- Larsen & Toubro Limited - India
- Global Coal Blending Company Limited - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Toyota Tsusho Corporation, Japan
- Kaltim Prima Coal - Indonesia
- Trasteel International SA, Italy
- Formosa Plastics Group - Taiwan
- Independent Power Producers Association of India
- Bulk Trading Sa - Switzerland
- Coal and Oil Company - UAE
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indian Energy Exchange, India
- Directorate General of MIneral and Coal - Indonesia
- Cement Manufacturers Association - India
- Planning Commission, India
- SN Aboitiz Power Inc, Philippines
- Chettinad Cement Corporation Ltd - India
- Leighton Contractors Pty Ltd - Australia
- New Zealand Coal & Carbon
- Bhatia International Limited - India
- Coalindo Energy - Indonesia
- SMG Consultants - Indonesia
- LBH Netherlands Bv - Netherlands
- Mintek Dendrill Indonesia
- Goldman Sachs - Singapore
- Georgia Ports Authority, United States
- Bhoruka Overseas - Indonesia
- Carbofer General Trading SA - India
- Aboitiz Power Corporation - Philippines
- Bukit Makmur.PT - Indonesia
- Edison Trading Spa - Italy
- Bukit Asam (Persero) Tbk - Indonesia
- ICICI Bank Limited - India
- Xindia Steels Limited - India
- IEA Clean Coal Centre - UK
- Australian Commodity Traders Exchange
- OPG Power Generation Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Tamil Nadu electricity Board
- Ministry of Mines - Canada
- MS Steel International - UAE
- CIMB Investment Bank - Malaysia
- AsiaOL BioFuels Corp., Philippines
- Bukit Baiduri Energy - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- The State Trading Corporation of India Ltd
- Medco Energi Mining Internasional
- Electricity Generating Authority of Thailand
- Kalimantan Lumbung Energi - Indonesia
- Aditya Birla Group - India
- International Coal Ventures Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- Iligan Light & Power Inc, Philippines
- Attock Cement Pakistan Limited
- Coastal Gujarat Power Limited - India
- SMC Global Power, Philippines
- PTC India Limited - India
- TeaM Sual Corporation - Philippines
- Binh Thuan Hamico - Vietnam
- Grasim Industreis Ltd - India
- White Energy Company Limited
- Tata Chemicals Ltd - India
- European Bulk Services B.V. - Netherlands
- Krishnapatnam Port Company Ltd. - India
- Ambuja Cements Ltd - India
- Jaiprakash Power Ventures ltd
- Deloitte Consulting - India
- IHS Mccloskey Coal Group - USA
- Banpu Public Company Limited - Thailand
- Rio Tinto Coal - Australia
- Karaikal Port Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Metalloyd Limited - United Kingdom
- Dalmia Cement Bharat India
- Bank of Tokyo Mitsubishi UFJ Ltd
- GAC Shipping (India) Pvt Ltd
- Timah Investasi Mineral - Indoneisa
- Salva Resources Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- Karbindo Abesyapradhi - Indoneisa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Borneo Indobara - Indonesia
- Intertek Mineral Services - Indonesia
- Petron Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- Energy Development Corp, Philippines
- Holcim Trading Pte Ltd - Singapore
- Singapore Mercantile Exchange
- Kepco SPC Power Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Mjunction Services Limited - India
- Sree Jayajothi Cements Limited - India
- Sakthi Sugars Limited - India
- Posco Energy - South Korea
- Thai Mozambique Logistica
|
| |
| |
|
