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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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Wednesday, 13 May 09
COAL SUPPLY MAY BE VASTLY OVERESTIMATED - ABC SCIENCE
The world's coal supply suggests reserves may be vastly overestimated and we could be facing an unprecedented global energy crisis, according to a ...
Wednesday, 13 May 09
INDONESIA ADARO NET PROFIT, REVENUE TO RISE IN 2009 - REUTERS
INDONESIA's largest coal producer by market value, PT Adaro Energy Tbk, expects double-digit growth in revenue and net profit this year, an officia ...
Wednesday, 13 May 09
ALPHA TO BUY RIVAL, CREATING NEW US COAL HEAVYWEIGHT - MININGWEEKLY.COM
Alpha Natural Resources, the biggest supplier of metallurgical coal in the US, has agreed to buy Maryland-based rival Foundation Coal for about $1,4 ...
Tuesday, 12 May 09
CHINA MINERS CUT COAL PRICE OFFER TO JAPAN UTILITIES - ALIBABA.COM
* Producers cut offer to $75.50 a tonne from over $80
* Negotiations may conclude soon as price gap narrows
* New offer at discount of about 43 pe ...
Tuesday, 12 May 09
INDO TAMBANGRAYA SEES 2010 COAL OUTPUT UP 25 PCT - REUTERS
Indonesian coal miner, PT Indo Tambangraya Megah (ITMG.JK), expects coal output to increase by up to 25 percent next year as production kicks in at ...
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- Interocean Group of Companies - India
- Edison Trading Spa - Italy
- Thai Mozambique Logistica
- Malabar Cements Ltd - India
- Uttam Galva Steels Limited - India
- Bhoruka Overseas - Indonesia
- International Coal Ventures Pvt Ltd - India
- PTC India Limited - India
- LBH Netherlands Bv - Netherlands
- Independent Power Producers Association of India
- Australian Commodity Traders Exchange
- AsiaOL BioFuels Corp., Philippines
- Kalimantan Lumbung Energi - Indonesia
- Baramulti Group, Indonesia
- Binh Thuan Hamico - Vietnam
- Leighton Contractors Pty Ltd - Australia
- Renaissance Capital - South Africa
- Minerals Council of Australia
- GN Power Mariveles Coal Plant, Philippines
- PowerSource Philippines DevCo
- Bhushan Steel Limited - India
- Indika Energy - Indonesia
- Global Green Power PLC Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- Ministry of Finance - Indonesia
- Africa Commodities Group - South Africa
- Central Electricity Authority - India
- Chamber of Mines of South Africa
- New Zealand Coal & Carbon
- Energy Development Corp, Philippines
- Kepco SPC Power Corporation, Philippines
- Global Business Power Corporation, Philippines
- San Jose City I Power Corp, Philippines
- Eastern Coal Council - USA
- GVK Power & Infra Limited - India
- Holcim Trading Pte Ltd - Singapore
- Aboitiz Power Corporation - Philippines
- Wilmar Investment Holdings
- Globalindo Alam Lestari - Indonesia
- Wood Mackenzie - Singapore
- Posco Energy - South Korea
- Indogreen Group - Indonesia
- Georgia Ports Authority, United States
- Coalindo Energy - Indonesia
- Savvy Resources Ltd - HongKong
- London Commodity Brokers - England
- Romanian Commodities Exchange
- Kapuas Tunggal Persada - Indonesia
- Gujarat Sidhee Cement - India
- Cement Manufacturers Association - India
- ICICI Bank Limited - India
- Dalmia Cement Bharat India
- Sree Jayajothi Cements Limited - India
- Commonwealth Bank - Australia
- Tata Chemicals Ltd - India
- Attock Cement Pakistan Limited
- Samtan Co., Ltd - South Korea
- Aditya Birla Group - India
- Bangladesh Power Developement Board
- Port Waratah Coal Services - Australia
- Orica Australia Pty. Ltd.
- Banpu Public Company Limited - Thailand
- TNB Fuel Sdn Bhd - Malaysia
- Ind-Barath Power Infra Limited - India
- GMR Energy Limited - India
- Formosa Plastics Group - Taiwan
- Medco Energi Mining Internasional
- Timah Investasi Mineral - Indoneisa
- Petrochimia International Co. Ltd.- Taiwan
- Planning Commission, India
- Ambuja Cements Ltd - India
- Lanco Infratech Ltd - India
- Parliament of New Zealand
- Kumho Petrochemical, South Korea
- Indian Oil Corporation Limited
- South Luzon Thermal Energy Corporation
- Rio Tinto Coal - Australia
- Bukit Makmur.PT - Indonesia
- McConnell Dowell - Australia
- Jaiprakash Power Ventures ltd
- Carbofer General Trading SA - India
- Intertek Mineral Services - Indonesia
- Coal and Oil Company - UAE
- IEA Clean Coal Centre - UK
- European Bulk Services B.V. - Netherlands
- Rashtriya Ispat Nigam Limited - India
- GAC Shipping (India) Pvt Ltd
- Petron Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- CIMB Investment Bank - Malaysia
- Ministry of Mines - Canada
- PetroVietnam Power Coal Import and Supply Company
- Larsen & Toubro Limited - India
- TeaM Sual Corporation - Philippines
- Essar Steel Hazira Ltd - India
- Thiess Contractors Indonesia
- Vizag Seaport Private Limited - India
- Energy Link Ltd, New Zealand
- Krishnapatnam Port Company Ltd. - India
- Bulk Trading Sa - Switzerland
- Cigading International Bulk Terminal - Indonesia
- Electricity Generating Authority of Thailand
- Star Paper Mills Limited - India
- SN Aboitiz Power Inc, Philippines
- Singapore Mercantile Exchange
- Therma Luzon, Inc, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Parry Sugars Refinery, India
- MS Steel International - UAE
- Straits Asia Resources Limited - Singapore
- Bahari Cakrawala Sebuku - Indonesia
- Kaltim Prima Coal - Indonesia
- Grasim Industreis Ltd - India
- Merrill Lynch Commodities Europe
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Deloitte Consulting - India
- Siam City Cement PLC, Thailand
- Pendopo Energi Batubara - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Iligan Light & Power Inc, Philippines
- Australian Coal Association
- Trasteel International SA, Italy
- Kohat Cement Company Ltd. - Pakistan
- Sical Logistics Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- White Energy Company Limited
- Sakthi Sugars Limited - India
- Sindya Power Generating Company Private Ltd
- Miang Besar Coal Terminal - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Electricity Authority, New Zealand
- India Bulls Power Limited - India
- Mintek Dendrill Indonesia
- Heidelberg Cement - Germany
- Siam City Cement - Thailand
- The Treasury - Australian Government
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Vedanta Resources Plc - India
- Sinarmas Energy and Mining - Indonesia
- Manunggal Multi Energi - Indonesia
- Orica Mining Services - Indonesia
- CNBM International Corporation - China
- Antam Resourcindo - Indonesia
- Bukit Baiduri Energy - Indonesia
- Standard Chartered Bank - UAE
- Indo Tambangraya Megah - Indonesia
- Chettinad Cement Corporation Ltd - India
- Central Java Power - Indonesia
- Goldman Sachs - Singapore
- Mercuria Energy - Indonesia
- Toyota Tsusho Corporation, Japan
- Xindia Steels Limited - India
- Directorate Of Revenue Intelligence - India
- Vijayanagar Sugar Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Eastern Energy - Thailand
- Oldendorff Carriers - Singapore
- Gujarat Electricity Regulatory Commission - India
- Agrawal Coal Company - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- Mjunction Services Limited - India
- Tamil Nadu electricity Board
- Coastal Gujarat Power Limited - India
- Kartika Selabumi Mining - Indonesia
- Kobexindo Tractors - Indoneisa
- Asmin Koalindo Tuhup - Indonesia
- Economic Council, Georgia
- Pipit Mutiara Jaya. PT, Indonesia
- Price Waterhouse Coopers - Russia
- Marubeni Corporation - India
- Latin American Coal - Colombia
- Ceylon Electricity Board - Sri Lanka
- Salva Resources Pvt Ltd - India
- Power Finance Corporation Ltd., India
- VISA Power Limited - India
- Meralco Power Generation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Metalloyd Limited - United Kingdom
- Borneo Indobara - Indonesia
- Sojitz Corporation - Japan
- Anglo American - United Kingdom
- PNOC Exploration Corporation - Philippines
- Ministry of Transport, Egypt
- OPG Power Generation Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Simpson Spence & Young - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Mercator Lines Limited - India
- SMG Consultants - Indonesia
- SMC Global Power, Philippines
- Riau Bara Harum - Indonesia
- ASAPP Information Group - India
- Videocon Industries ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Semirara Mining Corp, Philippines
- The State Trading Corporation of India Ltd
- Maharashtra Electricity Regulatory Commission - India
- Maheswari Brothers Coal Limited - India
- Altura Mining Limited, Indonesia
- Jindal Steel & Power Ltd - India
- The University of Queensland
- Barasentosa Lestari - Indonesia
- Makarim & Taira - Indonesia
- Indonesian Coal Mining Association
- Bayan Resources Tbk. - Indonesia
- Madhucon Powers Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Indian Energy Exchange, India
- Meenaskhi Energy Private Limited - India
- IHS Mccloskey Coal Group - USA
- Bharathi Cement Corporation - India
- Bhatia International Limited - India
- Karbindo Abesyapradhi - Indoneisa
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