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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, 09 March 10
STRONG REBOUND IN ALL THE DRY BULK SEGMENTS THIS WEEK
There was a strong rebound in all the dry bulk segments this week, leading to an 18% jump in the Baltic Dry Index.
The Cape and Panamax markets s ...
Tuesday, 09 March 10
L&T POWER EYEING COAL MINES IN AUS, INDONESIA
L&T Power Development Company, a part of the Larsen & Tubro Group, plans to acquire coal mines in Australia and Indonesia, a top company off ...
Tuesday, 09 March 10
BHP AGREES SHORTER-TERM COAL DEALS WITH EUROPEAN, ASIAN CUSTOMERS
Diversified miner BHP Billiton on Monday reported that it had reached sales terms for a significant portion of its hard coking coal volumes for 2010 ...
Monday, 08 March 10
KPCL TO IMPORT 0.9 MILLION TON OF 6000 GCV COAL
COALspot.com: India's Karnataka Power Corporation Ltd is seeking to import 0.9 million metric tons of 6000 kcal/kg (adb) Gross Calorific Value stea ...
Monday, 08 March 10
CHINA SHIPPING TO CARRY MORE COAL FOR SHENHUA
Hellenic Shipping News reported that, China Shipping (Group) Company will expect to ship 40 million tons of coal for Shenhua Group in 2010, Li Shaod ...
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- Cigading International Bulk Terminal - Indonesia
- Tamil Nadu electricity Board
- Rio Tinto Coal - Australia
- Metalloyd Limited - United Kingdom
- Sinarmas Energy and Mining - Indonesia
- The State Trading Corporation of India Ltd
- Bayan Resources Tbk. - Indonesia
- ASAPP Information Group - India
- Commonwealth Bank - Australia
- Oldendorff Carriers - Singapore
- Star Paper Mills Limited - India
- Leighton Contractors Pty Ltd - Australia
- Central Java Power - Indonesia
- Eastern Energy - Thailand
- Heidelberg Cement - Germany
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- The Treasury - Australian Government
- Siam City Cement PLC, Thailand
- White Energy Company Limited
- Indonesian Coal Mining Association
- Indika Energy - Indonesia
- Coastal Gujarat Power Limited - India
- PNOC Exploration Corporation - Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Attock Cement Pakistan Limited
- Ambuja Cements Ltd - India
- Planning Commission, India
- MS Steel International - UAE
- Siam City Cement - Thailand
- Pendopo Energi Batubara - Indonesia
- Indian Energy Exchange, India
- Kobexindo Tractors - Indoneisa
- Singapore Mercantile Exchange
- Goldman Sachs - Singapore
- Aditya Birla Group - India
- Australian Commodity Traders Exchange
- GVK Power & Infra Limited - India
- Semirara Mining and Power Corporation, Philippines
- Bhatia International Limited - India
- Interocean Group of Companies - India
- ICICI Bank Limited - India
- Essar Steel Hazira Ltd - India
- Wilmar Investment Holdings
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Electricity Authority, New Zealand
- Intertek Mineral Services - Indonesia
- Africa Commodities Group - South Africa
- Posco Energy - South Korea
- Mercuria Energy - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Kepco SPC Power Corporation, Philippines
- Orica Mining Services - Indonesia
- Coal and Oil Company - UAE
- Central Electricity Authority - India
- Ministry of Finance - Indonesia
- San Jose City I Power Corp, Philippines
- GMR Energy Limited - India
- Mjunction Services Limited - India
- Billiton Holdings Pty Ltd - Australia
- Simpson Spence & Young - Indonesia
- Power Finance Corporation Ltd., India
- Bukit Baiduri Energy - Indonesia
- Marubeni Corporation - India
- Vedanta Resources Plc - India
- SMG Consultants - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Borneo Indobara - Indonesia
- Bukit Makmur.PT - Indonesia
- Kaltim Prima Coal - Indonesia
- Sical Logistics Limited - India
- Straits Asia Resources Limited - Singapore
- Global Green Power PLC Corporation, Philippines
- Cement Manufacturers Association - India
- Banpu Public Company Limited - Thailand
- Bahari Cakrawala Sebuku - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Miang Besar Coal Terminal - Indonesia
- Altura Mining Limited, Indonesia
- Australian Coal Association
- Alfred C Toepfer International GmbH - Germany
- OPG Power Generation Pvt Ltd - India
- Merrill Lynch Commodities Europe
- Neyveli Lignite Corporation Ltd, - India
- Binh Thuan Hamico - Vietnam
- Chettinad Cement Corporation Ltd - India
- Georgia Ports Authority, United States
- Port Waratah Coal Services - Australia
- Electricity Generating Authority of Thailand
- Anglo American - United Kingdom
- Bhushan Steel Limited - India
- Medco Energi Mining Internasional
- Bukit Asam (Persero) Tbk - Indonesia
- Antam Resourcindo - Indonesia
- Malabar Cements Ltd - India
- Formosa Plastics Group - Taiwan
- Energy Development Corp, Philippines
- SMC Global Power, Philippines
- Parliament of New Zealand
- Gujarat Electricity Regulatory Commission - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- IEA Clean Coal Centre - UK
- Videocon Industries ltd - India
- Mercator Lines Limited - India
- LBH Netherlands Bv - Netherlands
- Agrawal Coal Company - India
- Economic Council, Georgia
- Minerals Council of Australia
- Kartika Selabumi Mining - Indonesia
- IHS Mccloskey Coal Group - USA
- Deloitte Consulting - India
- Sakthi Sugars Limited - India
- Therma Luzon, Inc, Philippines
- Aboitiz Power Corporation - Philippines
- Ministry of Mines - Canada
- Jindal Steel & Power Ltd - India
- SN Aboitiz Power Inc, Philippines
- Karaikal Port Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Barasentosa Lestari - Indonesia
- GAC Shipping (India) Pvt Ltd
- Romanian Commodities Exchange
- Latin American Coal - Colombia
- Parry Sugars Refinery, India
- PowerSource Philippines DevCo
- Indogreen Group - Indonesia
- Standard Chartered Bank - UAE
- Bharathi Cement Corporation - India
- Grasim Industreis Ltd - India
- Samtan Co., Ltd - South Korea
- London Commodity Brokers - England
- Sarangani Energy Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- Toyota Tsusho Corporation, Japan
- Rashtriya Ispat Nigam Limited - India
- Indo Tambangraya Megah - Indonesia
- South Luzon Thermal Energy Corporation
- Coalindo Energy - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sojitz Corporation - Japan
- Kapuas Tunggal Persada - Indonesia
- VISA Power Limited - India
- Salva Resources Pvt Ltd - India
- The University of Queensland
- Global Business Power Corporation, Philippines
- Thai Mozambique Logistica
- Ind-Barath Power Infra Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Globalindo Alam Lestari - Indonesia
- Ministry of Transport, Egypt
- New Zealand Coal & Carbon
- Maharashtra Electricity Regulatory Commission - India
- Asmin Koalindo Tuhup - Indonesia
- Meenaskhi Energy Private Limited - India
- Directorate Of Revenue Intelligence - India
- Orica Australia Pty. Ltd.
- Edison Trading Spa - Italy
- Independent Power Producers Association of India
- Bhoruka Overseas - Indonesia
- Semirara Mining Corp, Philippines
- TeaM Sual Corporation - Philippines
- Thiess Contractors Indonesia
- Trasteel International SA, Italy
- Manunggal Multi Energi - Indonesia
- Gujarat Sidhee Cement - India
- Carbofer General Trading SA - India
- Makarim & Taira - Indonesia
- CNBM International Corporation - China
- Jaiprakash Power Ventures ltd
- Petron Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Bangladesh Power Developement Board
- Eastern Coal Council - USA
- Price Waterhouse Coopers - Russia
- Larsen & Toubro Limited - India
- Timah Investasi Mineral - Indoneisa
- CIMB Investment Bank - Malaysia
- Renaissance Capital - South Africa
- Karbindo Abesyapradhi - Indoneisa
- Maheswari Brothers Coal Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Energy Link Ltd, New Zealand
- Global Coal Blending Company Limited - Australia
- Indian Oil Corporation Limited
- TNB Fuel Sdn Bhd - Malaysia
- Kumho Petrochemical, South Korea
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Xindia Steels Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Lanco Infratech Ltd - India
- Wood Mackenzie - Singapore
- Iligan Light & Power Inc, Philippines
- Bulk Trading Sa - Switzerland
- Tata Chemicals Ltd - India
- Madhucon Powers Ltd - India
- Chamber of Mines of South Africa
- Riau Bara Harum - Indonesia
- PTC India Limited - India
- McConnell Dowell - Australia
- Kideco Jaya Agung - Indonesia
- Savvy Resources Ltd - HongKong
- Sindya Power Generating Company Private Ltd
- Directorate General of MIneral and Coal - Indonesia
- Dalmia Cement Bharat India
- Vijayanagar Sugar Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- International Coal Ventures Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Uttam Galva Steels Limited - India
- Ceylon Electricity Board - Sri Lanka
- Meralco Power Generation, Philippines
- Mintek Dendrill Indonesia
- Baramulti Group, Indonesia
- India Bulls Power Limited - India
- Vizag Seaport Private Limited - India
- GN Power Mariveles Coal Plant, Philippines
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