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Tuesday, 12 May 09
INDIKA EXPECTS TO INCREASE COAL PRODUCTION BY 12.68% IN 2010 - THE JAKARTA POST
 Energy and infrastructure company PT Indika Energy, the parent company of Indonesia's third largest coal producer PT Kideco Jaya Agung, expects its coal production to grow by 12.68 percent next year.
Indika plans to produce as much as 28 million tons of coal in 2010, up from 24.85 million tons targeted this year, chief financial officer Azis Armand told reporters Monday.
He said the production increase would come both from Kideco and from mining company PT Petrosea, which is in the process of acquisition by Indika. Azis said Kideco was expected to produce as much as 26 million tons of coal in 2010, up from 24 million tons of coal production targeted this year.
Indika owns 46 percent of Kideco, a holder of a first-generation Coal Contract of Work, locally known as PKP2B, valid through to 2023. Kideco owns 50,400 hectares of coal concessions in East Kalimantan. It produced 22 million tons of coal in 2008.
Azis said that Indika also expected to start receiving as much as 850,000 tons of additional coal from Petrosea's subsidiary PT Santan Batubara this year. Production is expected to increase to two million tons in 2010, he added.
On April 14, Indika signed a Conditional Sale and Purchase Agreement (CSPA) to acquire a 81.95 percent stake in Petrosea from its majority shareholder Clough International Singapore Pte Ltd for US$83.8 million.
"Close of transaction *for the acquisition* is targeted for early June."
In December last year, Indika also acquired coal mining rights to 13 sites, locally known as KP, in Melawi, West Kalimantan. These KPs have a total concession area of 53,000 hectares in total with coal reserves estimated at 150 million tons.
Arsjad Rasjid, Indika's president director, said ten of the KPs are already at the exploration stage and the remaining three are at the pre-survey stage. "We expect the KPs to start initial production in 2012."
Azis said Indika spent US$18.5 million on the acquisition of the KPs. He added the development cost of the mines was estimated at $100 million over three years.
"This year, we aim to spend about $10 million on the KPs," Azis said.
According to Azis, Indika's total capital expenditure for this year was forecast to reach between $50 million and $55 million.
He added that outside this capital expenditure, Indika still had between $250 million and $300 million of cash reserves available.
"We still have available cash. Therefore, we will evaluate whether we still need other acquisitions or not," Azis said.
source: http://www.thejakartapost.com/news/2009/05/12/indika-expects-increase-coal-production-1268-2010.html
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Friday, 22 May 09
CHURCHILL DOUBLES INDONESIAN COAL PROJECT RESOURCE ESTIMATE - STEEL GURU
Mining Weekly quoted Churchill Mining as saying that the resource at its East Kutai coal project in Indonesia has more than doubled to 3.18 billion ...
Friday, 22 May 09
INDONESIA`S BUKIT ASAM TO HAVE POWER PLANT IN 2011 - ANTARA
The construction of a power plant in South Sumatra by coal mining company PT Tambang Batubara Bukit Asam will be completed in April 2011.
T ...
Friday, 22 May 09
NOBLE WINS CONTROL OF AUSTRALIA'S GLOUCESTER COAL - BLOOMBERG
Noble Group Ltd., a Hong Kong- based commodity supplier, won control of Australia’s Gloucester Coal Ltd. after last week raising its cash bid ...
Thursday, 21 May 09
FBR STARTS COVERAGE OF SHIPPING SECTOR - REUTERS
Friedman Billings Ramsey began coverage of the shipping industry, saying the sector, which is amidst a deep cyclical downturn, is poised for a recov ...
Thursday, 21 May 09
INDONESIAN COAL PRODUCTION IN Q1 BELOW TARGET - STEEL GURU
Mr Bambang Gatot Ariyono director for coal and mineral development at the Energy and Mineral Resources Ministry said that the coal production in the ...
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- Africa Commodities Group - South Africa
- Port Waratah Coal Services - Australia
- Romanian Commodities Exchange
- GMR Energy Limited - India
- Tamil Nadu electricity Board
- Kepco SPC Power Corporation, Philippines
- Mjunction Services Limited - India
- New Zealand Coal & Carbon
- Central Electricity Authority - India
- GVK Power & Infra Limited - India
- Rashtriya Ispat Nigam Limited - India
- Ministry of Mines - Canada
- Cement Manufacturers Association - India
- Coalindo Energy - Indonesia
- CNBM International Corporation - China
- Ind-Barath Power Infra Limited - India
- The Treasury - Australian Government
- OPG Power Generation Pvt Ltd - India
- Coal and Oil Company - UAE
- Bukit Makmur.PT - Indonesia
- Simpson Spence & Young - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Intertek Mineral Services - Indonesia
- Sindya Power Generating Company Private Ltd
- Uttam Galva Steels Limited - India
- PowerSource Philippines DevCo
- Alfred C Toepfer International GmbH - Germany
- Lanco Infratech Ltd - India
- Carbofer General Trading SA - India
- Pipit Mutiara Jaya. PT, Indonesia
- ICICI Bank Limited - India
- Bukit Baiduri Energy - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Sree Jayajothi Cements Limited - India
- Toyota Tsusho Corporation, Japan
- Edison Trading Spa - Italy
- Heidelberg Cement - Germany
- Posco Energy - South Korea
- Rio Tinto Coal - Australia
- Asmin Koalindo Tuhup - Indonesia
- Orica Australia Pty. Ltd.
- Georgia Ports Authority, United States
- Sical Logistics Limited - India
- Trasteel International SA, Italy
- Eastern Energy - Thailand
- Tata Chemicals Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- Savvy Resources Ltd - HongKong
- AsiaOL BioFuels Corp., Philippines
- The State Trading Corporation of India Ltd
- TeaM Sual Corporation - Philippines
- Pendopo Energi Batubara - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Wilmar Investment Holdings
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Meralco Power Generation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- London Commodity Brokers - England
- Gujarat Sidhee Cement - India
- Karaikal Port Pvt Ltd - India
- Commonwealth Bank - Australia
- Singapore Mercantile Exchange
- Ambuja Cements Ltd - India
- South Luzon Thermal Energy Corporation
- Siam City Cement - Thailand
- Wood Mackenzie - Singapore
- Salva Resources Pvt Ltd - India
- Baramulti Group, Indonesia
- Barasentosa Lestari - Indonesia
- Metalloyd Limited - United Kingdom
- Billiton Holdings Pty Ltd - Australia
- Ministry of Finance - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Indogreen Group - Indonesia
- VISA Power Limited - India
- Coastal Gujarat Power Limited - India
- Holcim Trading Pte Ltd - Singapore
- Independent Power Producers Association of India
- Planning Commission, India
- Attock Cement Pakistan Limited
- Thai Mozambique Logistica
- Marubeni Corporation - India
- McConnell Dowell - Australia
- Australian Coal Association
- Parliament of New Zealand
- Kapuas Tunggal Persada - Indonesia
- Riau Bara Harum - Indonesia
- Australian Commodity Traders Exchange
- GAC Shipping (India) Pvt Ltd
- Banpu Public Company Limited - Thailand
- India Bulls Power Limited - India
- Bhushan Steel Limited - India
- Kohat Cement Company Ltd. - Pakistan
- LBH Netherlands Bv - Netherlands
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Agrawal Coal Company - India
- Bharathi Cement Corporation - India
- Global Business Power Corporation, Philippines
- Goldman Sachs - Singapore
- PNOC Exploration Corporation - Philippines
- Global Green Power PLC Corporation, Philippines
- Antam Resourcindo - Indonesia
- Dalmia Cement Bharat India
- White Energy Company Limited
- Manunggal Multi Energi - Indonesia
- Mintek Dendrill Indonesia
- Anglo American - United Kingdom
- Iligan Light & Power Inc, Philippines
- Sakthi Sugars Limited - India
- Straits Asia Resources Limited - Singapore
- Miang Besar Coal Terminal - Indonesia
- Makarim & Taira - Indonesia
- Deloitte Consulting - India
- Globalindo Alam Lestari - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Leighton Contractors Pty Ltd - Australia
- Economic Council, Georgia
- Kartika Selabumi Mining - Indonesia
- Chettinad Cement Corporation Ltd - India
- Thiess Contractors Indonesia
- Merrill Lynch Commodities Europe
- Therma Luzon, Inc, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Borneo Indobara - Indonesia
- Bhoruka Overseas - Indonesia
- Price Waterhouse Coopers - Russia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Minerals Council of Australia
- Bangladesh Power Developement Board
- The University of Queensland
- San Jose City I Power Corp, Philippines
- Ceylon Electricity Board - Sri Lanka
- Larsen & Toubro Limited - India
- Altura Mining Limited, Indonesia
- European Bulk Services B.V. - Netherlands
- Bayan Resources Tbk. - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Medco Energi Mining Internasional
- Madhucon Powers Ltd - India
- Indian Energy Exchange, India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- MS Steel International - UAE
- Orica Mining Services - Indonesia
- Sarangani Energy Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- ASAPP Information Group - India
- Maheswari Brothers Coal Limited - India
- Indonesian Coal Mining Association
- Energy Link Ltd, New Zealand
- Formosa Plastics Group - Taiwan
- Eastern Coal Council - USA
- Standard Chartered Bank - UAE
- Bukit Asam (Persero) Tbk - Indonesia
- Electricity Authority, New Zealand
- Aboitiz Power Corporation - Philippines
- Malabar Cements Ltd - India
- Kideco Jaya Agung - Indonesia
- Binh Thuan Hamico - Vietnam
- SMC Global Power, Philippines
- Vizag Seaport Private Limited - India
- Mercator Lines Limited - India
- Electricity Generating Authority of Thailand
- Jorong Barutama Greston.PT - Indonesia
- Central Java Power - Indonesia
- Petron Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- IEA Clean Coal Centre - UK
- Mercuria Energy - Indonesia
- Oldendorff Carriers - Singapore
- Global Coal Blending Company Limited - Australia
- Xindia Steels Limited - India
- Videocon Industries ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Latin American Coal - Colombia
- Bhatia International Limited - India
- Gujarat Electricity Regulatory Commission - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kobexindo Tractors - Indoneisa
- Vijayanagar Sugar Pvt Ltd - India
- SMG Consultants - Indonesia
- Sojitz Corporation - Japan
- Offshore Bulk Terminal Pte Ltd, Singapore
- Vedanta Resources Plc - India
- Aditya Birla Group - India
- PTC India Limited - India
- Energy Development Corp, Philippines
- Jindal Steel & Power Ltd - India
- SN Aboitiz Power Inc, Philippines
- Siam City Cement PLC, Thailand
- Ministry of Transport, Egypt
- Jaiprakash Power Ventures ltd
- Grasim Industreis Ltd - India
- CIMB Investment Bank - Malaysia
- Samtan Co., Ltd - South Korea
- GN Power Mariveles Coal Plant, Philippines
- Essar Steel Hazira Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Chamber of Mines of South Africa
- Indika Energy - Indonesia
- Kumho Petrochemical, South Korea
- Parry Sugars Refinery, India
- Timah Investasi Mineral - Indoneisa
- Star Paper Mills Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Power Finance Corporation Ltd., India
- Indian Oil Corporation Limited
- Indo Tambangraya Megah - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Directorate Of Revenue Intelligence - India
- Kaltim Prima Coal - Indonesia
- Bulk Trading Sa - Switzerland
- Bahari Cakrawala Sebuku - Indonesia
- Semirara Mining Corp, Philippines
- Interocean Group of Companies - India
- Renaissance Capital - South Africa
- Gujarat Mineral Development Corp Ltd - India
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