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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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Tuesday, 28 April 09
S'PORE COURT RULES AGAINST DEUTSCHE ON ASSET SALE - REUTERS
Singapore's highest court has ruled that Deutsche Bank (DBKGn.DE) may have to pay unspecified damages to an investment firm as it did not get the b ...
Tuesday, 28 April 09
WORLD THERMAL COAL PRICE EXPECTED TO CRASH - PURCHASING.COM
Macquarie Bank sees 50% drop to $60/ton in 2009
Macquarie Bank today forecast the 2009 average market price for world thermal coal at $60/ton, a ...
Tuesday, 28 April 09
THAI LANNA TO OPEN NEW INDONESIAN MINE BY Q3 - REUTERS
Thailand's Lanna Resources PCL LANN.BK said on Monday it planned to open a new coal mine in Indonesia by the third quarter of 2009 with an initial ...
Tuesday, 28 April 09
SOUTH AFRICAN EXPORT COAL RETREATS ON WEAKER EUROPEAN DEMAND - BLOOMBERG
Prices for coal shipped from South Africa’s Richards Bay, site of the world’s largest export terminal for the fuel, fell for a second co ...
Monday, 27 April 09
INDONESIA S.KALIMANTAN GETS COAL TRUCKS OFF PUBLIC ROADS - REUTERS
A local government in one of Indonesia's top coal-producing areas has banned coal and palm oil firms from using public roads because of the damage ...
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- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Wilmar Investment Holdings
- Maheswari Brothers Coal Limited - India
- Deloitte Consulting - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Vizag Seaport Private Limited - India
- Ministry of Mines - Canada
- London Commodity Brokers - England
- Bukit Asam (Persero) Tbk - Indonesia
- Altura Mining Limited, Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Larsen & Toubro Limited - India
- India Bulls Power Limited - India
- European Bulk Services B.V. - Netherlands
- Electricity Generating Authority of Thailand
- Sojitz Corporation - Japan
- Port Waratah Coal Services - Australia
- Mintek Dendrill Indonesia
- Australian Commodity Traders Exchange
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Antam Resourcindo - Indonesia
- Independent Power Producers Association of India
- Bulk Trading Sa - Switzerland
- SN Aboitiz Power Inc, Philippines
- GMR Energy Limited - India
- Singapore Mercantile Exchange
- ICICI Bank Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Petron Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- IEA Clean Coal Centre - UK
- Central Java Power - Indonesia
- SMC Global Power, Philippines
- Siam City Cement - Thailand
- Banpu Public Company Limited - Thailand
- Straits Asia Resources Limited - Singapore
- Kohat Cement Company Ltd. - Pakistan
- Coal and Oil Company - UAE
- Medco Energi Mining Internasional
- Central Electricity Authority - India
- Carbofer General Trading SA - India
- Thiess Contractors Indonesia
- Riau Bara Harum - Indonesia
- Economic Council, Georgia
- Indian Energy Exchange, India
- Goldman Sachs - Singapore
- IHS Mccloskey Coal Group - USA
- Global Business Power Corporation, Philippines
- Mjunction Services Limited - India
- Krishnapatnam Port Company Ltd. - India
- Aditya Birla Group - India
- Vijayanagar Sugar Pvt Ltd - India
- Planning Commission, India
- Bangladesh Power Developement Board
- Alfred C Toepfer International GmbH - Germany
- Meralco Power Generation, Philippines
- Electricity Authority, New Zealand
- ASAPP Information Group - India
- Binh Thuan Hamico - Vietnam
- Cement Manufacturers Association - India
- Gujarat Sidhee Cement - India
- Samtan Co., Ltd - South Korea
- Billiton Holdings Pty Ltd - Australia
- Meenaskhi Energy Private Limited - India
- Vedanta Resources Plc - India
- Savvy Resources Ltd - HongKong
- Videocon Industries ltd - India
- PTC India Limited - India
- Sinarmas Energy and Mining - Indonesia
- Sree Jayajothi Cements Limited - India
- Attock Cement Pakistan Limited
- Merrill Lynch Commodities Europe
- Latin American Coal - Colombia
- Jaiprakash Power Ventures ltd
- Holcim Trading Pte Ltd - Singapore
- McConnell Dowell - Australia
- Bhushan Steel Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Xindia Steels Limited - India
- GVK Power & Infra Limited - India
- Borneo Indobara - Indonesia
- Manunggal Multi Energi - Indonesia
- Gujarat Electricity Regulatory Commission - India
- MS Steel International - UAE
- Timah Investasi Mineral - Indoneisa
- Baramulti Group, Indonesia
- Tamil Nadu electricity Board
- PowerSource Philippines DevCo
- Kartika Selabumi Mining - Indonesia
- Star Paper Mills Limited - India
- Posco Energy - South Korea
- Directorate Of Revenue Intelligence - India
- Ambuja Cements Ltd - India
- Parry Sugars Refinery, India
- Georgia Ports Authority, United States
- Barasentosa Lestari - Indonesia
- Ministry of Transport, Egypt
- Bahari Cakrawala Sebuku - Indonesia
- Renaissance Capital - South Africa
- New Zealand Coal & Carbon
- International Coal Ventures Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Leighton Contractors Pty Ltd - Australia
- Orica Mining Services - Indonesia
- Ministry of Finance - Indonesia
- Globalindo Alam Lestari - Indonesia
- Wood Mackenzie - Singapore
- White Energy Company Limited
- PetroVietnam Power Coal Import and Supply Company
- Ceylon Electricity Board - Sri Lanka
- Karbindo Abesyapradhi - Indoneisa
- Parliament of New Zealand
- Bhatia International Limited - India
- SMG Consultants - Indonesia
- Indogreen Group - Indonesia
- Dalmia Cement Bharat India
- Miang Besar Coal Terminal - Indonesia
- TeaM Sual Corporation - Philippines
- The State Trading Corporation of India Ltd
- AsiaOL BioFuels Corp., Philippines
- The Treasury - Australian Government
- Simpson Spence & Young - Indonesia
- Therma Luzon, Inc, Philippines
- Tata Chemicals Ltd - India
- CIMB Investment Bank - Malaysia
- TNB Fuel Sdn Bhd - Malaysia
- Aboitiz Power Corporation - Philippines
- Edison Trading Spa - Italy
- Kaltim Prima Coal - Indonesia
- Marubeni Corporation - India
- Iligan Light & Power Inc, Philippines
- Bharathi Cement Corporation - India
- Jindal Steel & Power Ltd - India
- Thai Mozambique Logistica
- Indo Tambangraya Megah - Indonesia
- Rio Tinto Coal - Australia
- Intertek Mineral Services - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Kobexindo Tractors - Indoneisa
- South Luzon Thermal Energy Corporation
- Metalloyd Limited - United Kingdom
- Formosa Plastics Group - Taiwan
- Standard Chartered Bank - UAE
- Rashtriya Ispat Nigam Limited - India
- Lanco Infratech Ltd - India
- Makarim & Taira - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- CNBM International Corporation - China
- Sakthi Sugars Limited - India
- Interocean Group of Companies - India
- Indonesian Coal Mining Association
- Romanian Commodities Exchange
- Semirara Mining Corp, Philippines
- Essar Steel Hazira Ltd - India
- Coastal Gujarat Power Limited - India
- Toyota Tsusho Corporation, Japan
- Kepco SPC Power Corporation, Philippines
- Power Finance Corporation Ltd., India
- Eastern Coal Council - USA
- Karaikal Port Pvt Ltd - India
- Commonwealth Bank - Australia
- Gujarat Mineral Development Corp Ltd - India
- GAC Shipping (India) Pvt Ltd
- Mercuria Energy - Indonesia
- Eastern Energy - Thailand
- VISA Power Limited - India
- Bukit Baiduri Energy - Indonesia
- Uttam Galva Steels Limited - India
- Bhoruka Overseas - Indonesia
- Sical Logistics Limited - India
- Bukit Makmur.PT - Indonesia
- Indian Oil Corporation Limited
- Trasteel International SA, Italy
- Malabar Cements Ltd - India
- Global Green Power PLC Corporation, Philippines
- Agrawal Coal Company - India
- Kideco Jaya Agung - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- PNOC Exploration Corporation - Philippines
- Australian Coal Association
- The University of Queensland
- Orica Australia Pty. Ltd.
- Chamber of Mines of South Africa
- Energy Link Ltd, New Zealand
- Cigading International Bulk Terminal - Indonesia
- Heidelberg Cement - Germany
- Mercator Lines Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Energy Development Corp, Philippines
- San Jose City I Power Corp, Philippines
- Anglo American - United Kingdom
- Kumho Petrochemical, South Korea
- Grasim Industreis Ltd - India
- Indika Energy - Indonesia
- Madhucon Powers Ltd - India
- Oldendorff Carriers - Singapore
- LBH Netherlands Bv - Netherlands
- Sindya Power Generating Company Private Ltd
- Pendopo Energi Batubara - Indonesia
- OPG Power Generation Pvt Ltd - India
- Siam City Cement PLC, Thailand
- Coalindo Energy - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Price Waterhouse Coopers - Russia
- Pipit Mutiara Jaya. PT, Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Africa Commodities Group - South Africa
- Semirara Mining and Power Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- Salva Resources Pvt Ltd - India
- Minerals Council of Australia
- Bayan Resources Tbk. - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Global Coal Blending Company Limited - Australia
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