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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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Thursday, 25 March 10
THE INDIAN MARKET IS STILL FIRM - FEARNLEYS AS
Handy
A sluggish start to the week in the Atlantic with little fresh busin ...
Tuesday, 23 March 10
NINE COMPANIES WIN 20-YEAR COAL CONTRACTS - TEMPO
Tempo Interactive reported that, State Eletricity Company (Perusahaan Listrik Negara) revealed four joint ventures and one company winning coa ...
Monday, 22 March 10
INDONESIA`S MERUKH WINS US$3 BLN SWISS CONTRACT TO SUPPLY COAL - ANTARA
Antara Reported that, Indonesia's PT Merukh Enterprises said it has secured a 30-year contract to supply coal to Swiss buyer Glencore International ...
Monday, 22 March 10
INDIA TO IMPORT COLOMBIAN COAL FOR FIRST TIME AS DEMAND SURGES - BLOOMBERG
Bloomberg reported that, Adani Enterprises Ltd., India’s biggest coal importer, agreed to buy thermal coal from Colombia for the first t ...
Saturday, 20 March 10
NO MAJOR CHANGES ON SUPRAMAX MARKET FOR NEXT COUPLE OF WEEKS - VISTAAR
COALspot.com: “The dry bulk freight market continued to be firm on the Panamax and Supramax and Handy size vessels”, said Capt. Reddy MD ...
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- Cigading International Bulk Terminal - Indonesia
- Independent Power Producers Association of India
- Sakthi Sugars Limited - India
- Formosa Plastics Group - Taiwan
- Interocean Group of Companies - India
- IEA Clean Coal Centre - UK
- Sree Jayajothi Cements Limited - India
- South Luzon Thermal Energy Corporation
- Ministry of Transport, Egypt
- Mercuria Energy - Indonesia
- San Jose City I Power Corp, Philippines
- ICICI Bank Limited - India
- Wilmar Investment Holdings
- Georgia Ports Authority, United States
- Gujarat Electricity Regulatory Commission - India
- Bhoruka Overseas - Indonesia
- Petron Corporation, Philippines
- Lanco Infratech Ltd - India
- Bulk Trading Sa - Switzerland
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Attock Cement Pakistan Limited
- White Energy Company Limited
- Offshore Bulk Terminal Pte Ltd, Singapore
- The Treasury - Australian Government
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Grasim Industreis Ltd - India
- Ministry of Finance - Indonesia
- Goldman Sachs - Singapore
- Miang Besar Coal Terminal - Indonesia
- SN Aboitiz Power Inc, Philippines
- Rashtriya Ispat Nigam Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Essar Steel Hazira Ltd - India
- Bayan Resources Tbk. - Indonesia
- Thai Mozambique Logistica
- CNBM International Corporation - China
- GN Power Mariveles Coal Plant, Philippines
- Coastal Gujarat Power Limited - India
- Maheswari Brothers Coal Limited - India
- Kalimantan Lumbung Energi - Indonesia
- London Commodity Brokers - England
- Chettinad Cement Corporation Ltd - India
- Indika Energy - Indonesia
- Metalloyd Limited - United Kingdom
- GAC Shipping (India) Pvt Ltd
- Standard Chartered Bank - UAE
- Sical Logistics Limited - India
- Carbofer General Trading SA - India
- Simpson Spence & Young - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Jaiprakash Power Ventures ltd
- Energy Link Ltd, New Zealand
- Indonesian Coal Mining Association
- Economic Council, Georgia
- European Bulk Services B.V. - Netherlands
- Neyveli Lignite Corporation Ltd, - India
- Gujarat Mineral Development Corp Ltd - India
- Eastern Energy - Thailand
- Makarim & Taira - Indonesia
- PowerSource Philippines DevCo
- Australian Coal Association
- Trasteel International SA, Italy
- Bukit Makmur.PT - Indonesia
- Parry Sugars Refinery, India
- Rio Tinto Coal - Australia
- Meenaskhi Energy Private Limited - India
- Posco Energy - South Korea
- Baramulti Group, Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Mjunction Services Limited - India
- Tata Chemicals Ltd - India
- PTC India Limited - India
- Semirara Mining Corp, Philippines
- Riau Bara Harum - Indonesia
- Salva Resources Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- Bangladesh Power Developement Board
- Bukit Asam (Persero) Tbk - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Deloitte Consulting - India
- Electricity Generating Authority of Thailand
- Minerals Council of Australia
- Barasentosa Lestari - Indonesia
- IHS Mccloskey Coal Group - USA
- Toyota Tsusho Corporation, Japan
- Coalindo Energy - Indonesia
- Tamil Nadu electricity Board
- SMG Consultants - Indonesia
- Bukit Baiduri Energy - Indonesia
- Kobexindo Tractors - Indoneisa
- Siam City Cement PLC, Thailand
- Renaissance Capital - South Africa
- Medco Energi Mining Internasional
- Uttam Galva Steels Limited - India
- Edison Trading Spa - Italy
- AsiaOL BioFuels Corp., Philippines
- Bhushan Steel Limited - India
- CIMB Investment Bank - Malaysia
- Power Finance Corporation Ltd., India
- Intertek Mineral Services - Indonesia
- LBH Netherlands Bv - Netherlands
- Heidelberg Cement - Germany
- Star Paper Mills Limited - India
- Singapore Mercantile Exchange
- New Zealand Coal & Carbon
- Semirara Mining and Power Corporation, Philippines
- Cement Manufacturers Association - India
- Sojitz Corporation - Japan
- SMC Global Power, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Iligan Light & Power Inc, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Manunggal Multi Energi - Indonesia
- Kideco Jaya Agung - Indonesia
- Marubeni Corporation - India
- Asmin Koalindo Tuhup - Indonesia
- Commonwealth Bank - Australia
- Pendopo Energi Batubara - Indonesia
- Dalmia Cement Bharat India
- Chamber of Mines of South Africa
- Central Java Power - Indonesia
- ASAPP Information Group - India
- Banpu Public Company Limited - Thailand
- GMR Energy Limited - India
- Altura Mining Limited, Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Ind-Barath Power Infra Limited - India
- Wood Mackenzie - Singapore
- Energy Development Corp, Philippines
- Therma Luzon, Inc, Philippines
- GVK Power & Infra Limited - India
- The University of Queensland
- Planning Commission, India
- Africa Commodities Group - South Africa
- Billiton Holdings Pty Ltd - Australia
- Xindia Steels Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Binh Thuan Hamico - Vietnam
- Bhatia International Limited - India
- VISA Power Limited - India
- Indian Energy Exchange, India
- Merrill Lynch Commodities Europe
- Romanian Commodities Exchange
- Jindal Steel & Power Ltd - India
- Madhucon Powers Ltd - India
- MS Steel International - UAE
- Anglo American - United Kingdom
- Oldendorff Carriers - Singapore
- Sindya Power Generating Company Private Ltd
- Krishnapatnam Port Company Ltd. - India
- Kumho Petrochemical, South Korea
- Orica Australia Pty. Ltd.
- Aditya Birla Group - India
- Bharathi Cement Corporation - India
- Petrochimia International Co. Ltd.- Taiwan
- Kepco SPC Power Corporation, Philippines
- Central Electricity Authority - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- Samtan Co., Ltd - South Korea
- Vizag Seaport Private Limited - India
- Malabar Cements Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Larsen & Toubro Limited - India
- OPG Power Generation Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- India Bulls Power Limited - India
- Global Coal Blending Company Limited - Australia
- Price Waterhouse Coopers - Russia
- Alfred C Toepfer International GmbH - Germany
- Orica Mining Services - Indonesia
- PNOC Exploration Corporation - Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Meralco Power Generation, Philippines
- International Coal Ventures Pvt Ltd - India
- Indian Oil Corporation Limited
- Ministry of Mines - Canada
- Videocon Industries ltd - India
- Vedanta Resources Plc - India
- Gujarat Sidhee Cement - India
- Port Waratah Coal Services - Australia
- Savvy Resources Ltd - HongKong
- Straits Asia Resources Limited - Singapore
- Global Green Power PLC Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Karaikal Port Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Coal and Oil Company - UAE
- Sarangani Energy Corporation, Philippines
- Mercator Lines Limited - India
- Aboitiz Power Corporation - Philippines
- Kaltim Prima Coal - Indonesia
- McConnell Dowell - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Globalindo Alam Lestari - Indonesia
- Parliament of New Zealand
- Ambuja Cements Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Latin American Coal - Colombia
- Mintek Dendrill Indonesia
- Borneo Indobara - Indonesia
- Siam City Cement - Thailand
- Indo Tambangraya Megah - Indonesia
- Eastern Coal Council - USA
- Thiess Contractors Indonesia
- Agrawal Coal Company - India
- Global Business Power Corporation, Philippines
- Antam Resourcindo - Indonesia
- Australian Commodity Traders Exchange
- Directorate Of Revenue Intelligence - India
- The State Trading Corporation of India Ltd
- Kartika Selabumi Mining - Indonesia
- Electricity Authority, New Zealand
- Indogreen Group - Indonesia
- Ceylon Electricity Board - Sri Lanka
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