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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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Monday, 06 April 09
RICHARDS BAY COAL TERMINAL EXPORTS ROSE 5 PERCENT IN MARCH - BLOOMBERG
South Africa’s Richards Bay Coal Terminal, the world’s largest coal-export facility, shipped 5 percent more coal in March than the same ...
Monday, 06 April 09
INDIA'S OSWAL CHEM EYES INDONESIAN COAL MINES -ECONOMICTIMES
Oswal Chemicals and Fertilisers (OCFL), part of Abhay Oswal-led Oswal group, has initiated talks with three separate Indonesian coal firms to ...
Thursday, 02 April 09
FOREIGNERS ALSO CHEER FOR INDONESIA'S THE NEW MINING LAW - MAJALA TAMBANG
Three mining giants, Australia's Rio Tinto along with Canada's Barrick Gold and Southern Arc, are among foreign corporations currently applying fo ...
Wednesday, 01 April 09
INDONESIAN GOVERNMENT REVISES MINING REVENUE TARGET DOWN 26% - THE JAKARTA POST
Government income from mining this year, excluding taxes, is expected to drop by about 26 percent to Rp 11 trillion ($957 million), primarily becaus ...
Wednesday, 01 April 09
INDONESIAN OFFICIAL CLAIMS NEW LEGISLATION IS VINDICATED AS OVERSEAS FIRMS LINE UP FOR MINING LICENSES - THE JAKARTA GLOBE
The Energy and Mineral Resources Ministry is expected to issue six mining licenses under the country’s new mining law over the next two months ...
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- Medco Energi Mining Internasional
- Trasteel International SA, Italy
- Madhucon Powers Ltd - India
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- Parry Sugars Refinery, India
- Bukit Makmur.PT - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Bayan Resources Tbk. - Indonesia
- Posco Energy - South Korea
- Aditya Birla Group - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Agrawal Coal Company - India
- Maheswari Brothers Coal Limited - India
- Goldman Sachs - Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- London Commodity Brokers - England
- Power Finance Corporation Ltd., India
- MS Steel International - UAE
- Bangladesh Power Developement Board
- Manunggal Multi Energi - Indonesia
- Therma Luzon, Inc, Philippines
- Tata Chemicals Ltd - India
- PowerSource Philippines DevCo
- Leighton Contractors Pty Ltd - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Makarim & Taira - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Energy Link Ltd, New Zealand
- Sindya Power Generating Company Private Ltd
- Semirara Mining Corp, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Wilmar Investment Holdings
- Parliament of New Zealand
- Kobexindo Tractors - Indoneisa
- PTC India Limited - India
- Attock Cement Pakistan Limited
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- Price Waterhouse Coopers - Russia
- Tamil Nadu electricity Board
- Energy Development Corp, Philippines
- Chettinad Cement Corporation Ltd - India
- Holcim Trading Pte Ltd - Singapore
- The State Trading Corporation of India Ltd
- Gujarat Sidhee Cement - India
- Mintek Dendrill Indonesia
- Minerals Council of Australia
- Ministry of Transport, Egypt
- Standard Chartered Bank - UAE
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Binh Thuan Hamico - Vietnam
- VISA Power Limited - India
- Kepco SPC Power Corporation, Philippines
- Economic Council, Georgia
- Kapuas Tunggal Persada - Indonesia
- Gujarat Electricity Regulatory Commission - India
- European Bulk Services B.V. - Netherlands
- Essar Steel Hazira Ltd - India
- Bharathi Cement Corporation - India
- Heidelberg Cement - Germany
- Thiess Contractors Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Simpson Spence & Young - Indonesia
- Straits Asia Resources Limited - Singapore
- Thai Mozambique Logistica
- Jorong Barutama Greston.PT - Indonesia
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- San Jose City I Power Corp, Philippines
- Sinarmas Energy and Mining - Indonesia
- Australian Coal Association
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- Indian Energy Exchange, India
- Intertek Mineral Services - Indonesia
- Wood Mackenzie - Singapore
- Grasim Industreis Ltd - India
- Globalindo Alam Lestari - Indonesia
- Malabar Cements Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Australian Commodity Traders Exchange
- The Treasury - Australian Government
- IEA Clean Coal Centre - UK
- Central Electricity Authority - India
- GAC Shipping (India) Pvt Ltd
- Bukit Baiduri Energy - Indonesia
- Indonesian Coal Mining Association
- Star Paper Mills Limited - India
- GVK Power & Infra Limited - India
- Jaiprakash Power Ventures ltd
- Electricity Authority, New Zealand
- Billiton Holdings Pty Ltd - Australia
- Carbofer General Trading SA - India
- Chamber of Mines of South Africa
- Lanco Infratech Ltd - India
- Kaltim Prima Coal - Indonesia
- Barasentosa Lestari - Indonesia
- Global Coal Blending Company Limited - Australia
- South Luzon Thermal Energy Corporation
- Gujarat Mineral Development Corp Ltd - India
- Africa Commodities Group - South Africa
- Merrill Lynch Commodities Europe
- Bank of Tokyo Mitsubishi UFJ Ltd
- SMC Global Power, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Siam City Cement - Thailand
- ICICI Bank Limited - India
- Eastern Coal Council - USA
- Aboitiz Power Corporation - Philippines
- Electricity Generating Authority of Thailand
- LBH Netherlands Bv - Netherlands
- Ministry of Mines - Canada
- Coalindo Energy - Indonesia
- Eastern Energy - Thailand
- Ministry of Finance - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- OPG Power Generation Pvt Ltd - India
- Mercuria Energy - Indonesia
- McConnell Dowell - Australia
- Toyota Tsusho Corporation, Japan
- Sical Logistics Limited - India
- Global Business Power Corporation, Philippines
- Port Waratah Coal Services - Australia
- TeaM Sual Corporation - Philippines
- AsiaOL BioFuels Corp., Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ind-Barath Power Infra Limited - India
- India Bulls Power Limited - India
- Formosa Plastics Group - Taiwan
- Jindal Steel & Power Ltd - India
- Petron Corporation, Philippines
- Central Java Power - Indonesia
- Videocon Industries ltd - India
- Bhoruka Overseas - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Sakthi Sugars Limited - India
- Anglo American - United Kingdom
- Directorate General of MIneral and Coal - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Kideco Jaya Agung - Indonesia
- Coastal Gujarat Power Limited - India
- Global Green Power PLC Corporation, Philippines
- Deloitte Consulting - India
- Indogreen Group - Indonesia
- Latin American Coal - Colombia
- Bukit Asam (Persero) Tbk - Indonesia
- Uttam Galva Steels Limited - India
- Salva Resources Pvt Ltd - India
- Bhatia International Limited - India
- Marubeni Corporation - India
- Renaissance Capital - South Africa
- Sarangani Energy Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Banpu Public Company Limited - Thailand
- Meenaskhi Energy Private Limited - India
- Commonwealth Bank - Australia
- Mercator Lines Limited - India
- Directorate Of Revenue Intelligence - India
- Maharashtra Electricity Regulatory Commission - India
- Indika Energy - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Vijayanagar Sugar Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- Antam Resourcindo - Indonesia
- Planning Commission, India
- SMG Consultants - Indonesia
- Dalmia Cement Bharat India
- Neyveli Lignite Corporation Ltd, - India
- Larsen & Toubro Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- SN Aboitiz Power Inc, Philippines
- Riau Bara Harum - Indonesia
- The University of Queensland
- Timah Investasi Mineral - Indoneisa
- Samtan Co., Ltd - South Korea
- ASAPP Information Group - India
- Sree Jayajothi Cements Limited - India
- CNBM International Corporation - China
- International Coal Ventures Pvt Ltd - India
- Rio Tinto Coal - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Romanian Commodities Exchange
- Pendopo Energi Batubara - Indonesia
- Singapore Mercantile Exchange
- PNOC Exploration Corporation - Philippines
- Kartika Selabumi Mining - Indonesia
- Xindia Steels Limited - India
- Georgia Ports Authority, United States
- CIMB Investment Bank - Malaysia
- GMR Energy Limited - India
- Oldendorff Carriers - Singapore
- Cigading International Bulk Terminal - Indonesia
- Karaikal Port Pvt Ltd - India
- Sojitz Corporation - Japan
- Savvy Resources Ltd - HongKong
- Indian Oil Corporation Limited
- Bulk Trading Sa - Switzerland
- Kumho Petrochemical, South Korea
- Orica Australia Pty. Ltd.
- Vedanta Resources Plc - India
- Coal and Oil Company - UAE
- Metalloyd Limited - United Kingdom
- Ambuja Cements Ltd - India
- New Zealand Coal & Carbon
- Siam City Cement PLC, Thailand
- Iligan Light & Power Inc, Philippines
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- Bhushan Steel Limited - India
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- Meralco Power Generation, Philippines
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- Baramulti Group, Indonesia
- Rashtriya Ispat Nigam Limited - India
- Indo Tambangraya Megah - Indonesia
- Independent Power Producers Association of India
- White Energy Company Limited
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