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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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Sunday, 26 April 09
INDONESIAN GOVT SAYS COAL MINES CAUSE WEEKLONG FLOOD - THE JAKARTA POST
Samarinda administration in East Kalimantan admitted openly Thursday that the weeklong flood that paralyzed the city was caused by unruly management ...
Saturday, 25 April 09
FOREIGN SHARE DIVESTMENT STARTING THE 6TH YEAR OF PRODUCTION - MAJALAH TAMBANG
The government would set a divestment scheme for foreign miners, which would require companies to divest their ownership starting the 6th year of pr ...
Saturday, 25 April 09
INDO TAMBANGRAYA MEGAH ALLOCATED USD 126 MILLION FOR CAPITAL SPENDING - MAJALAH TAMBANG
Somyot Ruchirawat, President Director of PT Indo Tambangraya Megah, Tbk (ITMG), has announced the company's total dividend payment of Rp 1,345 per ...
Saturday, 25 April 09
MINING SECTOR IS STILL ON THE SURPLUS - THE JAKARTA POST
The global financial crisis is apparently also having an impact on the mining sector. People are thinking twice about investing in the mining sector ...
Saturday, 25 April 09
ADARO RUNS CATARACT OPERATION PROGRAM - THE JAKARTA POST
As part of its CSR program, thermal coal producer PT Adaro Indonesia has made cataract operations available to residents of Tandjung district, South ...
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- Kepco SPC Power Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Bukit Baiduri Energy - Indonesia
- Baramulti Group, Indonesia
- Larsen & Toubro Limited - India
- Mercator Lines Limited - India
- Makarim & Taira - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Simpson Spence & Young - Indonesia
- Essar Steel Hazira Ltd - India
- Salva Resources Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- Africa Commodities Group - South Africa
- Pendopo Energi Batubara - Indonesia
- Videocon Industries ltd - India
- Posco Energy - South Korea
- ASAPP Information Group - India
- Semirara Mining and Power Corporation, Philippines
- Ambuja Cements Ltd - India
- Georgia Ports Authority, United States
- Renaissance Capital - South Africa
- Thai Mozambique Logistica
- Rashtriya Ispat Nigam Limited - India
- Price Waterhouse Coopers - Russia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Central Java Power - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Parry Sugars Refinery, India
- Oldendorff Carriers - Singapore
- SMC Global Power, Philippines
- PowerSource Philippines DevCo
- Ministry of Finance - Indonesia
- Indo Tambangraya Megah - Indonesia
- GMR Energy Limited - India
- Borneo Indobara - Indonesia
- Siam City Cement PLC, Thailand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- White Energy Company Limited
- Banpu Public Company Limited - Thailand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Manunggal Multi Energi - Indonesia
- Binh Thuan Hamico - Vietnam
- Meenaskhi Energy Private Limited - India
- International Coal Ventures Pvt Ltd - India
- Mintek Dendrill Indonesia
- Altura Mining Limited, Indonesia
- Wilmar Investment Holdings
- Antam Resourcindo - Indonesia
- Bangladesh Power Developement Board
- Grasim Industreis Ltd - India
- SN Aboitiz Power Inc, Philippines
- Global Business Power Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Uttam Galva Steels Limited - India
- Directorate Of Revenue Intelligence - India
- Formosa Plastics Group - Taiwan
- GN Power Mariveles Coal Plant, Philippines
- Meralco Power Generation, Philippines
- Minerals Council of Australia
- IEA Clean Coal Centre - UK
- Kartika Selabumi Mining - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Parliament of New Zealand
- Global Coal Blending Company Limited - Australia
- Standard Chartered Bank - UAE
- South Luzon Thermal Energy Corporation
- Marubeni Corporation - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indian Energy Exchange, India
- PNOC Exploration Corporation - Philippines
- Independent Power Producers Association of India
- Coal and Oil Company - UAE
- Ind-Barath Power Infra Limited - India
- Singapore Mercantile Exchange
- Energy Link Ltd, New Zealand
- Ministry of Transport, Egypt
- Indogreen Group - Indonesia
- Coalindo Energy - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kalimantan Lumbung Energi - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Kaltim Prima Coal - Indonesia
- Latin American Coal - Colombia
- Anglo American - United Kingdom
- Maheswari Brothers Coal Limited - India
- Tamil Nadu electricity Board
- Madhucon Powers Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- London Commodity Brokers - England
- Sakthi Sugars Limited - India
- Globalindo Alam Lestari - Indonesia
- Commonwealth Bank - Australia
- Agrawal Coal Company - India
- Indika Energy - Indonesia
- GAC Shipping (India) Pvt Ltd
- Holcim Trading Pte Ltd - Singapore
- Orica Australia Pty. Ltd.
- Sindya Power Generating Company Private Ltd
- MS Steel International - UAE
- Petrochimia International Co. Ltd.- Taiwan
- Economic Council, Georgia
- Romanian Commodities Exchange
- Lanco Infratech Ltd - India
- Kobexindo Tractors - Indoneisa
- Pipit Mutiara Jaya. PT, Indonesia
- Bulk Trading Sa - Switzerland
- Rio Tinto Coal - Australia
- Central Electricity Authority - India
- LBH Netherlands Bv - Netherlands
- Aboitiz Power Corporation - Philippines
- Thiess Contractors Indonesia
- Attock Cement Pakistan Limited
- Kideco Jaya Agung - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- McConnell Dowell - Australia
- Mjunction Services Limited - India
- Bukit Makmur.PT - Indonesia
- PTC India Limited - India
- Dalmia Cement Bharat India
- Toyota Tsusho Corporation, Japan
- Carbofer General Trading SA - India
- Therma Luzon, Inc, Philippines
- Bayan Resources Tbk. - Indonesia
- Samtan Co., Ltd - South Korea
- Leighton Contractors Pty Ltd - Australia
- Asmin Koalindo Tuhup - Indonesia
- Aditya Birla Group - India
- India Bulls Power Limited - India
- Power Finance Corporation Ltd., India
- Directorate General of MIneral and Coal - Indonesia
- European Bulk Services B.V. - Netherlands
- Barasentosa Lestari - Indonesia
- Port Waratah Coal Services - Australia
- Bharathi Cement Corporation - India
- Energy Development Corp, Philippines
- Global Green Power PLC Corporation, Philippines
- Trasteel International SA, Italy
- The State Trading Corporation of India Ltd
- Electricity Authority, New Zealand
- Chamber of Mines of South Africa
- Kumho Petrochemical, South Korea
- Alfred C Toepfer International GmbH - Germany
- Timah Investasi Mineral - Indoneisa
- Ceylon Electricity Board - Sri Lanka
- Billiton Holdings Pty Ltd - Australia
- Straits Asia Resources Limited - Singapore
- ICICI Bank Limited - India
- Orica Mining Services - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Bhoruka Overseas - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Chettinad Cement Corporation Ltd - India
- Star Paper Mills Limited - India
- Petron Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- IHS Mccloskey Coal Group - USA
- Edison Trading Spa - Italy
- Riau Bara Harum - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Vedanta Resources Plc - India
- Medco Energi Mining Internasional
- CNBM International Corporation - China
- Heidelberg Cement - Germany
- Mercuria Energy - Indonesia
- Sical Logistics Limited - India
- Savvy Resources Ltd - HongKong
- Vizag Seaport Private Limited - India
- Wood Mackenzie - Singapore
- GVK Power & Infra Limited - India
- Deloitte Consulting - India
- Intertek Mineral Services - Indonesia
- Miang Besar Coal Terminal - Indonesia
- New Zealand Coal & Carbon
- CIMB Investment Bank - Malaysia
- Xindia Steels Limited - India
- SMG Consultants - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Bhushan Steel Limited - India
- Semirara Mining Corp, Philippines
- Merrill Lynch Commodities Europe
- TNB Fuel Sdn Bhd - Malaysia
- Australian Coal Association
- The Treasury - Australian Government
- Jaiprakash Power Ventures ltd
- Bukit Asam (Persero) Tbk - Indonesia
- Jindal Steel & Power Ltd - India
- Indian Oil Corporation Limited
- Metalloyd Limited - United Kingdom
- Australian Commodity Traders Exchange
- Gujarat Sidhee Cement - India
- Coastal Gujarat Power Limited - India
- Karaikal Port Pvt Ltd - India
- Malabar Cements Ltd - India
- Sarangani Energy Corporation, Philippines
- Ministry of Mines - Canada
- Cement Manufacturers Association - India
- Interocean Group of Companies - India
- Bhatia International Limited - India
- Electricity Generating Authority of Thailand
- TeaM Sual Corporation - Philippines
- Goldman Sachs - Singapore
- Eastern Energy - Thailand
- Sojitz Corporation - Japan
- The University of Queensland
- Siam City Cement - Thailand
- Planning Commission, India
- Tata Chemicals Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- OPG Power Generation Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Indonesian Coal Mining Association
- Iligan Light & Power Inc, Philippines
- Karbindo Abesyapradhi - Indoneisa
- VISA Power Limited - India
- Gujarat Electricity Regulatory Commission - India
- Eastern Coal Council - USA
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