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Friday, 15 May 09
INDIKA EXPECTS TO INCREASE COAL PRODUCTION BY 12.68% IN 2010 - THE JAKARTA POST
.jpg) 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, 11 September 09
L&T EYES AUSSIE COAL MINE
Commodity Online reported that, Larsen and Toubro is in talks to buy a thermal coal mine in Australia for about $300 million. Thermal coal is used f ...
Wednesday, 09 September 09
CHINESE INTEREST IN AUSTRALIA COAL TICKS UP AS PRICES FALL
After a lull of about two months, Australian thermal coal producers are now seeing renewed interest from Chinese buyers for spot cargoes in the four ...
Wednesday, 09 September 09
SALES FORECAST UP ON BETTER DISTRIBUTION
The Jakarta Post reported that, State coal producer PT Tambang Batubara Bukit Asam (PT BA) expects coal sales to rise by 11 percent next year as it ...
Wednesday, 09 September 09
NTPC HIRES MACQUARIE TO ADVISE INDONESIA COAL MINE PURCHASE
Bloomberg reported that, NTPC Ltd., Asia’s biggest power utility by value, has hired Macquarie Group Ltd. to evaluate a proposed coal mine pur ...
Tuesday, 08 September 09
SOUTH AFRICAN COAL FALLS MOST IN 11 WEEKS ON EXCESSIVE PRICES
Bloomberg reported that, Prices for coal shipped from South Africa’s Richards Bay, site of the world’s largest export terminal for the f ...
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- Mercuria Energy - Indonesia
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- Global Business Power Corporation, Philippines
- Energy Link Ltd, New Zealand
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- CNBM International Corporation - China
- Billiton Holdings Pty Ltd - Australia
- Sinarmas Energy and Mining - Indonesia
- OPG Power Generation Pvt Ltd - India
- Central Electricity Authority - India
- Meenaskhi Energy Private Limited - India
- New Zealand Coal & Carbon
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- Asmin Koalindo Tuhup - Indonesia
- Gujarat Mineral Development Corp Ltd - India
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- Agrawal Coal Company - India
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- Electricity Authority, New Zealand
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- The State Trading Corporation of India Ltd
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- Tata Chemicals Ltd - India
- Globalindo Alam Lestari - Indonesia
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- Australian Coal Association
- Planning Commission, India
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- Sical Logistics Limited - India
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- Orica Australia Pty. Ltd.
- Ministry of Transport, Egypt
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- Salva Resources Pvt Ltd - India
- Aditya Birla Group - India
- Coal and Oil Company - UAE
- SN Aboitiz Power Inc, Philippines
- TeaM Sual Corporation - Philippines
- Singapore Mercantile Exchange
- Barasentosa Lestari - Indonesia
- Larsen & Toubro Limited - India
- Sindya Power Generating Company Private Ltd
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- European Bulk Services B.V. - Netherlands
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- Binh Thuan Hamico - Vietnam
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- Australian Commodity Traders Exchange
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- IEA Clean Coal Centre - UK
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- PNOC Exploration Corporation - Philippines
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- Africa Commodities Group - South Africa
- Energy Development Corp, Philippines
- Indonesian Coal Mining Association
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- Georgia Ports Authority, United States
- Minerals Council of Australia
- Trasteel International SA, Italy
- Merrill Lynch Commodities Europe
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- Price Waterhouse Coopers - Russia
- Antam Resourcindo - Indonesia
- Riau Bara Harum - Indonesia
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- Economic Council, Georgia
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- The Treasury - Australian Government
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- Kalimantan Lumbung Energi - Indonesia
- Sakthi Sugars Limited - India
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- Ministry of Mines - Canada
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- Straits Asia Resources Limited - Singapore
- Power Finance Corporation Ltd., India
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- McConnell Dowell - Australia
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- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Parliament of New Zealand
- Ministry of Finance - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- MS Steel International - UAE
- SMC Global Power, Philippines
- Leighton Contractors Pty Ltd - Australia
- Edison Trading Spa - Italy
- Neyveli Lignite Corporation Ltd, - India
- Indian Oil Corporation Limited
- Rio Tinto Coal - Australia
- Semirara Mining and Power Corporation, Philippines
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- Independent Power Producers Association of India
- The University of Queensland
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- Renaissance Capital - South Africa
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- Chamber of Mines of South Africa
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- Romanian Commodities Exchange
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