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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 $1.3 trillion in 2008.
Edward said that the main contributing factor to higher net profit was increased coal sales volume, which increased by 18 percent to 21 million tons from 17.7 million tons in 2008.
On Monday, ITMG, through its shareholders meeting, agreed to a dividend of Rp 1,964 per share.
Source: The Jakarta Post (By: Nani Afrida)
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Tuesday, 30 March 10
PRICES FOR COKING COAL, IRON ORE TO SOAR AMID BURGEONING STEEL DEMAND: SCOTIABANK
Winnipeg Free Press reported that, Strong steel demand from China and a recovery in the developed world will push coking coal prices 56 per ce ...
Sunday, 28 March 10
DEMAND FROM INDIA RESHAPING THE GLOBAL COAL MARKET - DAVE FOREST
Attention international coal industry. There's a new kid on the block.
The nation of India.
India is emerging as a major re-shaping force for ...
Sunday, 28 March 10
SHIPS FROM WC INDIA TO CHINA CONTINUED TO BE FIXED AT HEALTHY LEVELS AT AROUND US$ 50/52,000 PER DAY - VISTAAR
COALspot.com: The dry bulk freight market seemed to be heading for a correction with all the indices dropping by 8-10 pct except for handy size whic ...
Saturday, 27 March 10
CHINA DROUGHT MAY RAISE COAL DEMAND, BOOST PRICES, CLSA SAYS - BLOOMBERG
Bloomberg reported that, Droughts in southwest China may increase demand for coal used in power plants, and ‘support” prices in the &ldq ...
Saturday, 27 March 10
CHINA TO REMAIN NET COAL IMPORTER IN NEAR FUTURE - STEEL GURU
Xinhua News cited Mr Wu Chenghou a councilor with the China Coal Transportation and Marketing Association as saying that China will remain a net coa ...
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Showing 5916 to 5920 news of total 6871 |
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- Aboitiz Power Corporation - Philippines
- Sindya Power Generating Company Private Ltd
- Kalimantan Lumbung Energi - Indonesia
- Vizag Seaport Private Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- Kepco SPC Power Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- VISA Power Limited - India
- Rio Tinto Coal - Australia
- Wilmar Investment Holdings
- Pipit Mutiara Jaya. PT, Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Savvy Resources Ltd - HongKong
- White Energy Company Limited
- Formosa Plastics Group - Taiwan
- Karaikal Port Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- Simpson Spence & Young - Indonesia
- Standard Chartered Bank - UAE
- Aditya Birla Group - India
- Trasteel International SA, Italy
- Indogreen Group - Indonesia
- Makarim & Taira - Indonesia
- Minerals Council of Australia
- Therma Luzon, Inc, Philippines
- Mintek Dendrill Indonesia
- Uttam Galva Steels Limited - India
- Straits Asia Resources Limited - Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bukit Baiduri Energy - Indonesia
- Borneo Indobara - Indonesia
- Lanco Infratech Ltd - India
- Latin American Coal - Colombia
- Miang Besar Coal Terminal - Indonesia
- Anglo American - United Kingdom
- Petron Corporation, Philippines
- Bulk Trading Sa - Switzerland
- Deloitte Consulting - India
- Cigading International Bulk Terminal - Indonesia
- Parliament of New Zealand
- PetroVietnam Power Coal Import and Supply Company
- Goldman Sachs - Singapore
- Semirara Mining and Power Corporation, Philippines
- Barasentosa Lestari - Indonesia
- Xindia Steels Limited - India
- Kobexindo Tractors - Indoneisa
- Bhoruka Overseas - Indonesia
- Heidelberg Cement - Germany
- Central Electricity Authority - India
- Dalmia Cement Bharat India
- Vijayanagar Sugar Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Attock Cement Pakistan Limited
- Ceylon Electricity Board - Sri Lanka
- Intertek Mineral Services - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- South Luzon Thermal Energy Corporation
- Sarangani Energy Corporation, Philippines
- GMR Energy Limited - India
- Global Coal Blending Company Limited - Australia
- Sakthi Sugars Limited - India
- GVK Power & Infra Limited - India
- Mercuria Energy - Indonesia
- Jaiprakash Power Ventures ltd
- Meralco Power Generation, Philippines
- Tamil Nadu electricity Board
- Semirara Mining Corp, Philippines
- Globalindo Alam Lestari - Indonesia
- Indian Energy Exchange, India
- CNBM International Corporation - China
- SN Aboitiz Power Inc, Philippines
- Binh Thuan Hamico - Vietnam
- Singapore Mercantile Exchange
- OPG Power Generation Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Carbofer General Trading SA - India
- Coal and Oil Company - UAE
- Rashtriya Ispat Nigam Limited - India
- The State Trading Corporation of India Ltd
- Gujarat Electricity Regulatory Commission - India
- SMG Consultants - Indonesia
- Global Green Power PLC Corporation, Philippines
- Orica Mining Services - Indonesia
- European Bulk Services B.V. - Netherlands
- TeaM Sual Corporation - Philippines
- AsiaOL BioFuels Corp., Philippines
- Maharashtra Electricity Regulatory Commission - India
- Oldendorff Carriers - Singapore
- Siam City Cement - Thailand
- Bangladesh Power Developement Board
- Bukit Makmur.PT - Indonesia
- Samtan Co., Ltd - South Korea
- ASAPP Information Group - India
- LBH Netherlands Bv - Netherlands
- Siam City Cement PLC, Thailand
- Ministry of Mines - Canada
- GAC Shipping (India) Pvt Ltd
- Agrawal Coal Company - India
- Interocean Group of Companies - India
- Star Paper Mills Limited - India
- Thai Mozambique Logistica
- Gujarat Sidhee Cement - India
- Orica Australia Pty. Ltd.
- Meenaskhi Energy Private Limited - India
- The University of Queensland
- IHS Mccloskey Coal Group - USA
- Bukit Asam (Persero) Tbk - Indonesia
- Price Waterhouse Coopers - Russia
- Georgia Ports Authority, United States
- Bayan Resources Tbk. - Indonesia
- Salva Resources Pvt Ltd - India
- IEA Clean Coal Centre - UK
- Electricity Generating Authority of Thailand
- Africa Commodities Group - South Africa
- Altura Mining Limited, Indonesia
- Kaltim Prima Coal - Indonesia
- McConnell Dowell - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Independent Power Producers Association of India
- Toyota Tsusho Corporation, Japan
- Indian Oil Corporation Limited
- Essar Steel Hazira Ltd - India
- PowerSource Philippines DevCo
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Posco Energy - South Korea
- Thiess Contractors Indonesia
- Merrill Lynch Commodities Europe
- Indo Tambangraya Megah - Indonesia
- Metalloyd Limited - United Kingdom
- Mercator Lines Limited - India
- ICICI Bank Limited - India
- Ind-Barath Power Infra Limited - India
- Baramulti Group, Indonesia
- Jorong Barutama Greston.PT - Indonesia
- India Bulls Power Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Grasim Industreis Ltd - India
- PNOC Exploration Corporation - Philippines
- Sojitz Corporation - Japan
- Ministry of Transport, Egypt
- Marubeni Corporation - India
- Sical Logistics Limited - India
- MS Steel International - UAE
- Energy Development Corp, Philippines
- Kohat Cement Company Ltd. - Pakistan
- SMC Global Power, Philippines
- Gujarat Mineral Development Corp Ltd - India
- San Jose City I Power Corp, Philippines
- Power Finance Corporation Ltd., India
- Videocon Industries ltd - India
- Antam Resourcindo - Indonesia
- Ambuja Cements Ltd - India
- Bhatia International Limited - India
- CIMB Investment Bank - Malaysia
- International Coal Ventures Pvt Ltd - India
- Global Business Power Corporation, Philippines
- Energy Link Ltd, New Zealand
- Asmin Koalindo Tuhup - Indonesia
- Electricity Authority, New Zealand
- Indika Energy - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Manunggal Multi Energi - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Indonesian Coal Mining Association
- Australian Coal Association
- Bhushan Steel Limited - India
- Pendopo Energi Batubara - Indonesia
- Larsen & Toubro Limited - India
- Cement Manufacturers Association - India
- Eastern Energy - Thailand
- Banpu Public Company Limited - Thailand
- Bharathi Cement Corporation - India
- New Zealand Coal & Carbon
- Kideco Jaya Agung - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Iligan Light & Power Inc, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Economic Council, Georgia
- Vedanta Resources Plc - India
- Parry Sugars Refinery, India
- Jindal Steel & Power Ltd - India
- Mjunction Services Limited - India
- Maheswari Brothers Coal Limited - India
- Ministry of Finance - Indonesia
- Commonwealth Bank - Australia
- Leighton Contractors Pty Ltd - Australia
- Directorate Of Revenue Intelligence - India
- Billiton Holdings Pty Ltd - Australia
- Port Waratah Coal Services - Australia
- PTC India Limited - India
- Wood Mackenzie - Singapore
- Madhucon Powers Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Coalindo Energy - Indonesia
- Romanian Commodities Exchange
- Timah Investasi Mineral - Indoneisa
- Australian Commodity Traders Exchange
- Medco Energi Mining Internasional
- Tata Chemicals Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Central Java Power - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Renaissance Capital - South Africa
- Edison Trading Spa - Italy
- Malabar Cements Ltd - India
- The Treasury - Australian Government
- Eastern Coal Council - USA
- Sinarmas Energy and Mining - Indonesia
- Chamber of Mines of South Africa
- Riau Bara Harum - Indonesia
- London Commodity Brokers - England
- Planning Commission, India
- Kumho Petrochemical, South Korea
- Coastal Gujarat Power Limited - India
- Neyveli Lignite Corporation Ltd, - India
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