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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, 01 April 09
COAL FIRMS' PROFITS NOT EXPECTED TO GROW IN '09 - - THE JAKARTA POST (ANALYSTS)
Despite their windfall profits in 2008, analysts doubt that PT Bumi Resources Tbk or any other coal firms will post profit growth this year, with pr ...
Tuesday, 31 March 09
DEUTSCHE BANK TO ADD COAL, GAS, SHIPPING IN COMMODITY EXPANSION - BLOOMBERG
Deutsche Bank AG, after quadrupling revenue from commodities in two years, plans to add coal, European natural-gas and shipping to its business, ant ...
Monday, 30 March 09
CHINA SHENHUA SAYS AGREES DOMESTIC COAL DEALS - REUTERS
Chinese coal mining giant China Shenhua Energy Co has agreed long-term contracts with some Chinese power producers, its President Ling Wen said on M ...
Sunday, 29 March 09
SHENHUA ENERGY 2008 NET RISES 29% TO RECORD ON PRICES - BLOOMBERG
China Shenhua Energy Co Ltd., the nation’s biggest coal producer, said profit rose 29 percent to a record in 2008 after it increased productio ...
Friday, 27 March 09
SOUTH AFRICAN COAL EXPORTS EXPECTED TO RISE IN 2009, BUT RAIL WILL DETERMINE BY HOW MUCH - MININGWEEKLY
South Africa has an expanding coal-export terminal, but an uncertain rail capacity.
The mismatch is something South Africa cannot afford, given i ...
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- Orica Mining Services - Indonesia
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- Meralco Power Generation, Philippines
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- Anglo American - United Kingdom
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- Semirara Mining Corp, Philippines
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- Therma Luzon, Inc, Philippines
- Trasteel International SA, Italy
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- Australian Commodity Traders Exchange
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- Tamil Nadu electricity Board
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- Indian Oil Corporation Limited
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- Thiess Contractors Indonesia
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- Ministry of Transport, Egypt
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- White Energy Company Limited
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- Africa Commodities Group - South Africa
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- Kepco SPC Power Corporation, Philippines
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- GAC Shipping (India) Pvt Ltd
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- Karbindo Abesyapradhi - Indoneisa
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- Indonesian Coal Mining Association
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- The Treasury - Australian Government
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- IHS Mccloskey Coal Group - USA
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- Energy Link Ltd, New Zealand
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- Commonwealth Bank - Australia
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- The State Trading Corporation of India Ltd
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- Chamber of Mines of South Africa
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- AsiaOL BioFuels Corp., Philippines
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- Coal and Oil Company - UAE
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- CIMB Investment Bank - Malaysia
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- Savvy Resources Ltd - HongKong
- Indogreen Group - Indonesia
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- Wood Mackenzie - Singapore
- Independent Power Producers Association of India
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- Asia Pacific Energy Resources Ventures Inc, Philippines
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- Medco Energi Mining Internasional
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- Bank of Tokyo Mitsubishi UFJ Ltd
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- Parliament of New Zealand
- Merrill Lynch Commodities Europe
- Leighton Contractors Pty Ltd - Australia
- Power Finance Corporation Ltd., India
- Intertek Mineral Services - Indonesia
- Formosa Plastics Group - Taiwan
- Larsen & Toubro Limited - India
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- Alfred C Toepfer International GmbH - Germany
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- Romanian Commodities Exchange
- Makarim & Taira - Indonesia
- Singapore Mercantile Exchange
- Directorate General of MIneral and Coal - Indonesia
- Star Paper Mills Limited - India
- Metalloyd Limited - United Kingdom
- VISA Power Limited - India
- Bharathi Cement Corporation - India
- Sical Logistics Limited - India
- Australian Coal Association
- GVK Power & Infra Limited - India
- Asmin Koalindo Tuhup - Indonesia
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- Minerals Council of Australia
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- Jaiprakash Power Ventures ltd
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- Bangladesh Power Developement Board
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- Petrochimia International Co. Ltd.- Taiwan
- SMG Consultants - Indonesia
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