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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, 26 March 10
CHINA PLANS TO INCREASES IMPORT COAL GREATLY IN 2010
– Asia Pacific Coal Trading & Investment Outlook 2010-
COALspot.com (Press Release): China plans to increase coal import significantly ...
Friday, 26 March 10
NTPC IN TALKS FOR INDONESIAN MINE - LIVE MINT
The deal for the coal mine with 1.8 bn tonnes of reserves may be valued at $1 bn
Live Mint reported that, State-run power utility NTPC Ltd is in ta ...
Friday, 26 March 10
ESSAR GROUP SIGNS DEAL FOR INDONESIAN COAL MINE - BUSINESS LINE
Looking ahead
The coal from the Indonesian mine would provide raw material to the group's power projects
The Aries coal mines acquired by the gro ...
Thursday, 25 March 10
CHINA RAILWAY WINS $4.8 BILLION INDONESIA PROJECT - BLOOMBERG
Bloomberg reported that, China Railway Group Ltd. won a $4.8 billion order from PT Bukit Asam, Indonesia’s state-owned coal producer, for a co ...
Thursday, 25 March 10
INDIAS MAHARASHTRA SEEKS TO IMPORT 3.35 MILLION TONS OF COAL - BLOOMBERG
Bloomberg reported that, Maharashtra State Power Generation Co., a provider of electricity to India’s commercial hub Mumbai, is seeking 3.35 m ...
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- Kartika Selabumi Mining - Indonesia
- Kohat Cement Company Ltd. - Pakistan
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- Dong Bac Coal Mineral Investment Coporation - Vietnam
- CIMB Investment Bank - Malaysia
- PNOC Exploration Corporation - Philippines
- Karaikal Port Pvt Ltd - India
- Antam Resourcindo - Indonesia
- Energy Link Ltd, New Zealand
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- Bharathi Cement Corporation - India
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- Timah Investasi Mineral - Indoneisa
- Billiton Holdings Pty Ltd - Australia
- Therma Luzon, Inc, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Sakthi Sugars Limited - India
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- Bhoruka Overseas - Indonesia
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- Chettinad Cement Corporation Ltd - India
- Sindya Power Generating Company Private Ltd
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- Minerals Council of Australia
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- Economic Council, Georgia
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- Directorate Of Revenue Intelligence - India
- Electricity Authority, New Zealand
- Vijayanagar Sugar Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
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- Indonesian Coal Mining Association
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- Ministry of Transport, Egypt
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- Bulk Trading Sa - Switzerland
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- Maheswari Brothers Coal Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Directorate General of MIneral and Coal - Indonesia
- Straits Asia Resources Limited - Singapore
- Medco Energi Mining Internasional
- IHS Mccloskey Coal Group - USA
- Essar Steel Hazira Ltd - India
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- Chamber of Mines of South Africa
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- Ministry of Finance - Indonesia
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- Carbofer General Trading SA - India
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- Aditya Birla Group - India
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- Salva Resources Pvt Ltd - India
- Baramulti Group, Indonesia
- Pendopo Energi Batubara - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Central Java Power - Indonesia
- Electricity Generating Authority of Thailand
- Ministry of Mines - Canada
- Indian Oil Corporation Limited
- Sical Logistics Limited - India
- Sarangani Energy Corporation, Philippines
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- Neyveli Lignite Corporation Ltd, - India
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- Eastern Coal Council - USA
- Meralco Power Generation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Renaissance Capital - South Africa
- Krishnapatnam Port Company Ltd. - India
- Mercuria Energy - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Jorong Barutama Greston.PT - Indonesia
- The University of Queensland
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- Mercator Lines Limited - India
- GVK Power & Infra Limited - India
- White Energy Company Limited
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- Bhatia International Limited - India
- Marubeni Corporation - India
- Binh Thuan Hamico - Vietnam
- Standard Chartered Bank - UAE
- Wilmar Investment Holdings
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- Rio Tinto Coal - Australia
- Central Electricity Authority - India
- Semirara Mining and Power Corporation, Philippines
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- Ambuja Cements Ltd - India
- Edison Trading Spa - Italy
- Tata Chemicals Ltd - India
- Metalloyd Limited - United Kingdom
- IEA Clean Coal Centre - UK
- Riau Bara Harum - Indonesia
- Lanco Infratech Ltd - India
- Global Business Power Corporation, Philippines
- Australian Coal Association
- Uttam Galva Steels Limited - India
- Indian Energy Exchange, India
- London Commodity Brokers - England
- Kumho Petrochemical, South Korea
- Australian Commodity Traders Exchange
- GMR Energy Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Gujarat Sidhee Cement - India
- Bukit Asam (Persero) Tbk - Indonesia
- Price Waterhouse Coopers - Russia
- Bukit Baiduri Energy - Indonesia
- SMG Consultants - Indonesia
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- Petrochimia International Co. Ltd.- Taiwan
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- Alfred C Toepfer International GmbH - Germany
- Global Coal Blending Company Limited - Australia
- Sojitz Corporation - Japan
- CNBM International Corporation - China
- Meenaskhi Energy Private Limited - India
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- Coal and Oil Company - UAE
- Banpu Public Company Limited - Thailand
- GAC Shipping (India) Pvt Ltd
- Mjunction Services Limited - India
- Iligan Light & Power Inc, Philippines
- Sree Jayajothi Cements Limited - India
- McConnell Dowell - Australia
- LBH Netherlands Bv - Netherlands
- The State Trading Corporation of India Ltd
- Toyota Tsusho Corporation, Japan
- Power Finance Corporation Ltd., India
- Singapore Mercantile Exchange
- Parliament of New Zealand
- Orica Mining Services - Indonesia
- Port Waratah Coal Services - Australia
- Tamil Nadu electricity Board
- Petron Corporation, Philippines
- Grasim Industreis Ltd - India
- Africa Commodities Group - South Africa
- Agrawal Coal Company - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Deloitte Consulting - India
- Merrill Lynch Commodities Europe
- Bangladesh Power Developement Board
- MS Steel International - UAE
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- Intertek Mineral Services - Indonesia
- International Coal Ventures Pvt Ltd - India
- Romanian Commodities Exchange
- Energy Development Corp, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Altura Mining Limited, Indonesia
- The Treasury - Australian Government
- Global Green Power PLC Corporation, Philippines
- VISA Power Limited - India
- New Zealand Coal & Carbon
- Samtan Co., Ltd - South Korea
- Holcim Trading Pte Ltd - Singapore
- AsiaOL BioFuels Corp., Philippines
- Goldman Sachs - Singapore
- Larsen & Toubro Limited - India
- PowerSource Philippines DevCo
- Bank of Tokyo Mitsubishi UFJ Ltd
- Cigading International Bulk Terminal - Indonesia
- Indo Tambangraya Megah - Indonesia
- Wood Mackenzie - Singapore
- Maharashtra Electricity Regulatory Commission - India
- Bayan Resources Tbk. - Indonesia
- Coalindo Energy - Indonesia
- Siam City Cement - Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- Ceylon Electricity Board - Sri Lanka
- Oldendorff Carriers - Singapore
- Indika Energy - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Eastern Energy - Thailand
- San Jose City I Power Corp, Philippines
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- ASAPP Information Group - India
- Videocon Industries ltd - India
- Rashtriya Ispat Nigam Limited - India
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- Thai Mozambique Logistica
- Planning Commission, India
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- Kaltim Prima Coal - Indonesia
- TeaM Sual Corporation - Philippines
- European Bulk Services B.V. - Netherlands
- Ind-Barath Power Infra Limited - India
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