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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, 08 May 09
INDONESIAN STATE AUDIT BOARD COULD ONLY REACHED A SMALL NUMBER OF KP AND PKP2B - MAJALAHTAMBANG
THE LACK of personnel and the very limited time period have been the reasons why the 2nd semester of the special purpose audit for coal mining ...
Friday, 08 May 09
B.C.'S MINING INDUSTRY HIGH COAL PRICES TO RECORD 2008 PROFITS - PAGUNTAKA
AGGREGATE pre-tax earnings rose to $3.2 billion, the highest amount in the 41-year history of a PricewaterhouseCoppers survey.
B.C.’s minin ...
Thursday, 07 May 09
ASIA COAL-PRICES EASE TO NEAR $63 ON DEMAND CONCERNS - REUTERS
AUSTRALIAN thermal coal prices, a benchmark for Asia, edged lower to around $63 a tonne on concerns over demand, after hitting a two-week high of $6 ...
Thursday, 07 May 09
RICHARDS BAY COAL SHIPMENTS FALL MOST IN 9 MONTHS - BLOOMBERG
RICHARDS BAY Coal Terminal Ltd., Africa’s largest coal-export facility, said shipments fell 24 percent last month, the biggest drop in nine mo ...
Tuesday, 05 May 09
NEWCASTLE PORT'S WEEKLY COAL EXPORTS INCREASE - BLOOMBERG
COAL shipments from Australia’s Newcastle port, the world’s biggest export harbor for the fuel, rose 18 percent last week while the numb ...
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- VISA Power Limited - India
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- The University of Queensland
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- Economic Council, Georgia
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- Sojitz Corporation - Japan
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- Bank of Tokyo Mitsubishi UFJ Ltd
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- London Commodity Brokers - England
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- Central Electricity Authority - India
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- Banpu Public Company Limited - Thailand
- Global Green Power PLC Corporation, Philippines
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- Price Waterhouse Coopers - Russia
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- Latin American Coal - Colombia
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- Planning Commission, India
- Rio Tinto Coal - Australia
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- Oldendorff Carriers - Singapore
- IHS Mccloskey Coal Group - USA
- Asmin Koalindo Tuhup - Indonesia
- Makarim & Taira - Indonesia
- Indian Oil Corporation Limited
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- Antam Resourcindo - Indonesia
- PNOC Exploration Corporation - Philippines
- Kapuas Tunggal Persada - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Ind-Barath Power Infra Limited - India
- Sindya Power Generating Company Private Ltd
- Heidelberg Cement - Germany
- Australian Commodity Traders Exchange
- Edison Trading Spa - Italy
- Bhoruka Overseas - Indonesia
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- Chamber of Mines of South Africa
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- PetroVietnam Power Coal Import and Supply Company
- TNB Fuel Sdn Bhd - Malaysia
- Jaiprakash Power Ventures ltd
- Merrill Lynch Commodities Europe
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- Kobexindo Tractors - Indoneisa
- Ministry of Transport, Egypt
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- Global Business Power Corporation, Philippines
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- IEA Clean Coal Centre - UK
- Georgia Ports Authority, United States
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- Tamil Nadu electricity Board
- Asia Pacific Energy Resources Ventures Inc, Philippines
- CNBM International Corporation - China
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- Miang Besar Coal Terminal - Indonesia
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- Aditya Birla Group - India
- Thiess Contractors Indonesia
- Electricity Authority, New Zealand
- Electricity Generating Authority of Thailand
- Commonwealth Bank - Australia
- Parliament of New Zealand
- Kohat Cement Company Ltd. - Pakistan
- The Treasury - Australian Government
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- Energy Development Corp, Philippines
- South Luzon Thermal Energy Corporation
- GMR Energy Limited - India
- Ministry of Mines - Canada
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- Sree Jayajothi Cements Limited - India
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- Africa Commodities Group - South Africa
- Minerals Council of Australia
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- Orica Australia Pty. Ltd.
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- Binh Thuan Hamico - Vietnam
- Uttam Galva Steels Limited - India
- McConnell Dowell - Australia
- Deloitte Consulting - India
- Medco Energi Mining Internasional
- Gujarat Electricity Regulatory Commission - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Timah Investasi Mineral - Indoneisa
- Port Waratah Coal Services - Australia
- MS Steel International - UAE
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- Alfred C Toepfer International GmbH - Germany
- Eastern Coal Council - USA
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