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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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- Deloitte Consulting - India
- Coal and Oil Company - UAE
- Bank of Tokyo Mitsubishi UFJ Ltd
- GVK Power & Infra Limited - India
- London Commodity Brokers - England
- Videocon Industries ltd - India
- Xindia Steels Limited - India
- Kapuas Tunggal Persada - Indonesia
- White Energy Company Limited
- Electricity Authority, New Zealand
- Grasim Industreis Ltd - India
- ASAPP Information Group - India
- Rashtriya Ispat Nigam Limited - India
- Madhucon Powers Ltd - India
- Samtan Co., Ltd - South Korea
- Coalindo Energy - Indonesia
- Savvy Resources Ltd - HongKong
- Gujarat Mineral Development Corp Ltd - India
- Orica Mining Services - Indonesia
- Romanian Commodities Exchange
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Petron Corporation, Philippines
- Makarim & Taira - Indonesia
- Tata Chemicals Ltd - India
- Wilmar Investment Holdings
- Bukit Asam (Persero) Tbk - Indonesia
- Sical Logistics Limited - India
- Oldendorff Carriers - Singapore
- CIMB Investment Bank - Malaysia
- SMG Consultants - Indonesia
- India Bulls Power Limited - India
- San Jose City I Power Corp, Philippines
- Globalindo Alam Lestari - Indonesia
- Mercuria Energy - Indonesia
- Kepco SPC Power Corporation, Philippines
- Trasteel International SA, Italy
- Kumho Petrochemical, South Korea
- Manunggal Multi Energi - Indonesia
- McConnell Dowell - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Indian Oil Corporation Limited
- Energy Link Ltd, New Zealand
- Renaissance Capital - South Africa
- Australian Coal Association
- GAC Shipping (India) Pvt Ltd
- Mintek Dendrill Indonesia
- Global Coal Blending Company Limited - Australia
- Central Java Power - Indonesia
- Ministry of Mines - Canada
- Commonwealth Bank - Australia
- Indogreen Group - Indonesia
- Indika Energy - Indonesia
- Intertek Mineral Services - Indonesia
- Meenaskhi Energy Private Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Merrill Lynch Commodities Europe
- Heidelberg Cement - Germany
- Semirara Mining and Power Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- SN Aboitiz Power Inc, Philippines
- The University of Queensland
- Kartika Selabumi Mining - Indonesia
- Marubeni Corporation - India
- Gujarat Sidhee Cement - India
- Bhoruka Overseas - Indonesia
- Electricity Generating Authority of Thailand
- Bayan Resources Tbk. - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Simpson Spence & Young - Indonesia
- Edison Trading Spa - Italy
- Central Electricity Authority - India
- MS Steel International - UAE
- Lanco Infratech Ltd - India
- Ministry of Finance - Indonesia
- Standard Chartered Bank - UAE
- PNOC Exploration Corporation - Philippines
- Interocean Group of Companies - India
- Maharashtra Electricity Regulatory Commission - India
- Essar Steel Hazira Ltd - India
- Toyota Tsusho Corporation, Japan
- Directorate Of Revenue Intelligence - India
- OPG Power Generation Pvt Ltd - India
- Goldman Sachs - Singapore
- Kaltim Prima Coal - Indonesia
- Agrawal Coal Company - India
- AsiaOL BioFuels Corp., Philippines
- Vedanta Resources Plc - India
- Port Waratah Coal Services - Australia
- Ambuja Cements Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- TeaM Sual Corporation - Philippines
- Aditya Birla Group - India
- GN Power Mariveles Coal Plant, Philippines
- Parry Sugars Refinery, India
- ICICI Bank Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Australian Commodity Traders Exchange
- Coastal Gujarat Power Limited - India
- Ind-Barath Power Infra Limited - India
- Kideco Jaya Agung - Indonesia
- GMR Energy Limited - India
- Alfred C Toepfer International GmbH - Germany
- Kobexindo Tractors - Indoneisa
- PetroVietnam Power Coal Import and Supply Company
- Eastern Coal Council - USA
- Power Finance Corporation Ltd., India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Parliament of New Zealand
- Sindya Power Generating Company Private Ltd
- Global Business Power Corporation, Philippines
- Georgia Ports Authority, United States
- Aboitiz Power Corporation - Philippines
- IEA Clean Coal Centre - UK
- Star Paper Mills Limited - India
- Economic Council, Georgia
- Vizag Seaport Private Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Orica Australia Pty. Ltd.
- Posco Energy - South Korea
- Carbofer General Trading SA - India
- Directorate General of MIneral and Coal - Indonesia
- Africa Commodities Group - South Africa
- Straits Asia Resources Limited - Singapore
- Bhatia International Limited - India
- Holcim Trading Pte Ltd - Singapore
- Altura Mining Limited, Indonesia
- Planning Commission, India
- Kohat Cement Company Ltd. - Pakistan
- Bukit Baiduri Energy - Indonesia
- Bangladesh Power Developement Board
- Independent Power Producers Association of India
- Karbindo Abesyapradhi - Indoneisa
- New Zealand Coal & Carbon
- Metalloyd Limited - United Kingdom
- Chettinad Cement Corporation Ltd - India
- Tamil Nadu electricity Board
- Thiess Contractors Indonesia
- Thai Mozambique Logistica
- Cement Manufacturers Association - India
- Mjunction Services Limited - India
- Jindal Steel & Power Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Rio Tinto Coal - Australia
- Medco Energi Mining Internasional
- SMC Global Power, Philippines
- Kalimantan Lumbung Energi - Indonesia
- The Treasury - Australian Government
- Bulk Trading Sa - Switzerland
- Uttam Galva Steels Limited - India
- Leighton Contractors Pty Ltd - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Siam City Cement PLC, Thailand
- Sakthi Sugars Limited - India
- Formosa Plastics Group - Taiwan
- Energy Development Corp, Philippines
- PTC India Limited - India
- PowerSource Philippines DevCo
- CNBM International Corporation - China
- Jaiprakash Power Ventures ltd
- IHS Mccloskey Coal Group - USA
- Borneo Indobara - Indonesia
- Sojitz Corporation - Japan
- Salva Resources Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Miang Besar Coal Terminal - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Larsen & Toubro Limited - India
- Malabar Cements Ltd - India
- Siam City Cement - Thailand
- Bhushan Steel Limited - India
- The State Trading Corporation of India Ltd
- Semirara Mining Corp, Philippines
- Ministry of Transport, Egypt
- Pipit Mutiara Jaya. PT, Indonesia
- LBH Netherlands Bv - Netherlands
- Latin American Coal - Colombia
- Therma Luzon, Inc, Philippines
- Cigading International Bulk Terminal - Indonesia
- Wood Mackenzie - Singapore
- Timah Investasi Mineral - Indoneisa
- Antam Resourcindo - Indonesia
- Mercator Lines Limited - India
- Meralco Power Generation, Philippines
- Riau Bara Harum - Indonesia
- Sarangani Energy Corporation, Philippines
- Bharathi Cement Corporation - India
- Global Green Power PLC Corporation, Philippines
- Banpu Public Company Limited - Thailand
- Iligan Light & Power Inc, Philippines
- International Coal Ventures Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Indo Tambangraya Megah - Indonesia
- Indonesian Coal Mining Association
- Singapore Mercantile Exchange
- Offshore Bulk Terminal Pte Ltd, Singapore
- Baramulti Group, Indonesia
- Bukit Makmur.PT - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- VISA Power Limited - India
- European Bulk Services B.V. - Netherlands
- Minerals Council of Australia
- Anglo American - United Kingdom
- Attock Cement Pakistan Limited
- Karaikal Port Pvt Ltd - India
- Dalmia Cement Bharat India
- Chamber of Mines of South Africa
- Indian Energy Exchange, India
- Ceylon Electricity Board - Sri Lanka
- Eastern Energy - Thailand
- Pendopo Energi Batubara - Indonesia
- Binh Thuan Hamico - Vietnam
- Gujarat Electricity Regulatory Commission - India
- Barasentosa Lestari - Indonesia
- South Luzon Thermal Energy Corporation
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sree Jayajothi Cements Limited - India
- Price Waterhouse Coopers - Russia
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