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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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Sunday, 14 March 10
CHINESE COAL PRICE MAY RISE TO TRADE NEAR SPOT, MACQUARIE SAYS
Bloomberg reported that, Steel mills in China, the world’s biggest producer of the alloy, may pay more for domestic coking coal this year as d ...
Sunday, 14 March 10
THERE IS NO INDICATION OF SLOWING DOWN OF IRON ORE AND COAL IMPORTS BY CHINA - VISTAAR SINGAPORE
COALspot.com: The dry bulk freight market continued the upward trend and the BDI closed 8.14 pct this week.
The Cape index up by 10.32 pct ...
Saturday, 13 March 10
INDONESIA COAL EXPORTS DROP IN FEBRUARY
COALspot.com: Indonesia, the world largest coal exporter, exported 24.38 million tons in January 2010 which fell slightly to 22.89 mln ton of coal i ...
Saturday, 13 March 10
INDONESIA TELLS BUKIT ASAM TO DITCH PARTNER IN SUMATRA RAILWAY UNLESS PROJECT STARTS
The Jakarta Globe reported that, the Indonesian government has urged state-owned miner PT Tambang Batubara Bukit Asam to look for new partners to he ...
Saturday, 13 March 10
OPTIMUM COAL AIMS TO RAISE R1,6 BILLION IN LISTING
All Africa reported that, COAL mining and exploration company Optimum Coal yesterday announced plans to list on the JSE at the end of the month ...
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- Xindia Steels Limited - India
- Oldendorff Carriers - Singapore
- Bhoruka Overseas - Indonesia
- Sindya Power Generating Company Private Ltd
- Petrochimia International Co. Ltd.- Taiwan
- Thai Mozambique Logistica
- Bukit Baiduri Energy - Indonesia
- Maheswari Brothers Coal Limited - India
- ASAPP Information Group - India
- Timah Investasi Mineral - Indoneisa
- Commonwealth Bank - Australia
- London Commodity Brokers - England
- Billiton Holdings Pty Ltd - Australia
- Latin American Coal - Colombia
- Orica Mining Services - Indonesia
- Bharathi Cement Corporation - India
- Pipit Mutiara Jaya. PT, Indonesia
- Trasteel International SA, Italy
- Edison Trading Spa - Italy
- PowerSource Philippines DevCo
- Ministry of Mines - Canada
- Manunggal Multi Energi - Indonesia
- Simpson Spence & Young - Indonesia
- Sree Jayajothi Cements Limited - India
- Chamber of Mines of South Africa
- Rio Tinto Coal - Australia
- Gujarat Electricity Regulatory Commission - India
- Cigading International Bulk Terminal - Indonesia
- Sinarmas Energy and Mining - Indonesia
- VISA Power Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Gujarat Sidhee Cement - India
- Eastern Energy - Thailand
- Asmin Koalindo Tuhup - Indonesia
- Ind-Barath Power Infra Limited - India
- Bulk Trading Sa - Switzerland
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Wilmar Investment Holdings
- Goldman Sachs - Singapore
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- Romanian Commodities Exchange
- Coal and Oil Company - UAE
- AsiaOL BioFuels Corp., Philippines
- Central Java Power - Indonesia
- Planning Commission, India
- Medco Energi Mining Internasional
- New Zealand Coal & Carbon
- Anglo American - United Kingdom
- Aboitiz Power Corporation - Philippines
- Eastern Coal Council - USA
- Vedanta Resources Plc - India
- Central Electricity Authority - India
- Maharashtra Electricity Regulatory Commission - India
- IEA Clean Coal Centre - UK
- Banpu Public Company Limited - Thailand
- Parliament of New Zealand
- Borneo Indobara - Indonesia
- Price Waterhouse Coopers - Russia
- Grasim Industreis Ltd - India
- Larsen & Toubro Limited - India
- International Coal Ventures Pvt Ltd - India
- Indian Energy Exchange, India
- Krishnapatnam Port Company Ltd. - India
- Jindal Steel & Power Ltd - India
- European Bulk Services B.V. - Netherlands
- Cement Manufacturers Association - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Marubeni Corporation - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bukit Makmur.PT - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Kepco SPC Power Corporation, Philippines
- Economic Council, Georgia
- Videocon Industries ltd - India
- The University of Queensland
- Energy Link Ltd, New Zealand
- Wood Mackenzie - Singapore
- Sakthi Sugars Limited - India
- Bayan Resources Tbk. - Indonesia
- Indogreen Group - Indonesia
- Semirara Mining and Power Corporation, Philippines
- India Bulls Power Limited - India
- Sojitz Corporation - Japan
- GVK Power & Infra Limited - India
- Power Finance Corporation Ltd., India
- Essar Steel Hazira Ltd - India
- Kideco Jaya Agung - Indonesia
- Mercator Lines Limited - India
- Barasentosa Lestari - Indonesia
- Kaltim Prima Coal - Indonesia
- Mercuria Energy - Indonesia
- Directorate Of Revenue Intelligence - India
- Straits Asia Resources Limited - Singapore
- Karaikal Port Pvt Ltd - India
- Bhatia International Limited - India
- Malabar Cements Ltd - India
- PNOC Exploration Corporation - Philippines
- Coalindo Energy - Indonesia
- Jaiprakash Power Ventures ltd
- Riau Bara Harum - Indonesia
- IHS Mccloskey Coal Group - USA
- Posco Energy - South Korea
- Independent Power Producers Association of India
- Mintek Dendrill Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Pendopo Energi Batubara - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ministry of Transport, Egypt
- Bank of Tokyo Mitsubishi UFJ Ltd
- The Treasury - Australian Government
- Vizag Seaport Private Limited - India
- Bangladesh Power Developement Board
- Kapuas Tunggal Persada - Indonesia
- Semirara Mining Corp, Philippines
- OPG Power Generation Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- Antam Resourcindo - Indonesia
- PTC India Limited - India
- Kumho Petrochemical, South Korea
- Kobexindo Tractors - Indoneisa
- Karbindo Abesyapradhi - Indoneisa
- Australian Commodity Traders Exchange
- Bahari Cakrawala Sebuku - Indonesia
- Interocean Group of Companies - India
- Leighton Contractors Pty Ltd - Australia
- South Luzon Thermal Energy Corporation
- Global Coal Blending Company Limited - Australia
- TeaM Sual Corporation - Philippines
- Siam City Cement PLC, Thailand
- Dalmia Cement Bharat India
- Salva Resources Pvt Ltd - India
- Georgia Ports Authority, United States
- Ambuja Cements Ltd - India
- SMC Global Power, Philippines
- CNBM International Corporation - China
- Kartika Selabumi Mining - Indonesia
- LBH Netherlands Bv - Netherlands
- Ministry of Finance - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Minerals Council of Australia
- White Energy Company Limited
- Aditya Birla Group - India
- Agrawal Coal Company - India
- Tata Chemicals Ltd - India
- Formosa Plastics Group - Taiwan
- Australian Coal Association
- Samtan Co., Ltd - South Korea
- Global Business Power Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- SMG Consultants - Indonesia
- Iligan Light & Power Inc, Philippines
- Intertek Mineral Services - Indonesia
- Petron Corporation, Philippines
- Bhushan Steel Limited - India
- Renaissance Capital - South Africa
- Carbofer General Trading SA - India
- The State Trading Corporation of India Ltd
- Star Paper Mills Limited - India
- Neyveli Lignite Corporation Ltd, - India
- GMR Energy Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- MS Steel International - UAE
- Indika Energy - Indonesia
- Energy Development Corp, Philippines
- Standard Chartered Bank - UAE
- McConnell Dowell - Australia
- Therma Luzon, Inc, Philippines
- Gujarat Mineral Development Corp Ltd - India
- SN Aboitiz Power Inc, Philippines
- Binh Thuan Hamico - Vietnam
- Meenaskhi Energy Private Limited - India
- Attock Cement Pakistan Limited
- Orica Australia Pty. Ltd.
- Indonesian Coal Mining Association
- Siam City Cement - Thailand
- Jorong Barutama Greston.PT - Indonesia
- Electricity Generating Authority of Thailand
- Indian Oil Corporation Limited
- PetroVietnam Power Coal Import and Supply Company
- Parry Sugars Refinery, India
- Madhucon Powers Ltd - India
- Deloitte Consulting - India
- Coastal Gujarat Power Limited - India
- Singapore Mercantile Exchange
- Thiess Contractors Indonesia
- Tamil Nadu electricity Board
- Kalimantan Lumbung Energi - Indonesia
- CIMB Investment Bank - Malaysia
- Mjunction Services Limited - India
- GAC Shipping (India) Pvt Ltd
- Chettinad Cement Corporation Ltd - India
- Baramulti Group, Indonesia
- Merrill Lynch Commodities Europe
- Savvy Resources Ltd - HongKong
- Lanco Infratech Ltd - India
- Sical Logistics Limited - India
- Global Green Power PLC Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Makarim & Taira - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Port Waratah Coal Services - Australia
- Heidelberg Cement - Germany
- Sarangani Energy Corporation, Philippines
- Metalloyd Limited - United Kingdom
- Kohat Cement Company Ltd. - Pakistan
- Uttam Galva Steels Limited - India
- Toyota Tsusho Corporation, Japan
- Meralco Power Generation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Africa Commodities Group - South Africa
- Electricity Authority, New Zealand
- Ceylon Electricity Board - Sri Lanka
- Globalindo Alam Lestari - Indonesia
- Altura Mining Limited, Indonesia
- ICICI Bank Limited - India
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