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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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Wednesday, 05 August 09
SMALLER DRY BULK CARRIERS TO FARE BETTER UNTIL THE END OF 2009 - SHIPPING
Marcor Shipping reported that, Smaller ship types are expected to outtake larger ones in dry bulk trade for the period until the end of the year. Th ...
Wednesday, 05 August 09
PEOPLE'S MINING SHOULD BE REGULATED UNDER RPP MINERBA
The Indonesian Institute of Science (LIPI) has called on the government to include a specific provision for people’s mining in the draft govern ...
Tuesday, 04 August 09
SRI LANKA IS LOOKING FOR 650,000 TON OF COAL NEXT YEAR FOR ITS FIRST 900 MW POWER PLANT.
COALspot.com ( Sri Lanka) : Lanka Coal Company Limited was issued a tender on 23 July 2009 to purchase 650,000 +/- 20% MT Bituminous Coal per a ...
Monday, 03 August 09
ONE YEAR CHARTER RATES FOR SUPRAMAX WAS AT AROUND USD 18,500 - VISTAAR SINGAPORE
COALspot.com (Singapore) : The freight market was flat this week with hardly any change in the BDI.The cape was up by about 4 pct and closed at 5,38 ...
Saturday, 01 August 09
APGENCO SAYS BOUGHT 500,000T MALAYSIAN COAL
The Malaysian Insider reported that, Indian state utility Andhra Pradesh Power Generation Corporation Ltd (Apgenco) has bought 500,000 tonnes of Mal ...
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- ASAPP Information Group - India
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- Edison Trading Spa - Italy
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- SMG Consultants - Indonesia
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- PTC India Limited - India
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- Electricity Generating Authority of Thailand
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- Independent Power Producers Association of India
- Indo Tambangraya Megah - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Chettinad Cement Corporation Ltd - India
- Kepco SPC Power Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Holcim Trading Pte Ltd - Singapore
- Ind-Barath Power Infra Limited - India
- Energy Link Ltd, New Zealand
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- IEA Clean Coal Centre - UK
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- Indian Energy Exchange, India
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- Global Coal Blending Company Limited - Australia
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- San Jose City I Power Corp, Philippines
- Interocean Group of Companies - India
- Petrochimia International Co. Ltd.- Taiwan
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- Ceylon Electricity Board - Sri Lanka
- Savvy Resources Ltd - HongKong
- Goldman Sachs - Singapore
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- Intertek Mineral Services - Indonesia
- Wood Mackenzie - Singapore
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- TNB Fuel Sdn Bhd - Malaysia
- Tata Chemicals Ltd - India
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- Leighton Contractors Pty Ltd - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- New Zealand Coal & Carbon
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- Billiton Holdings Pty Ltd - Australia
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- Rashtriya Ispat Nigam Limited - India
- Krishnapatnam Port Company Ltd. - India
- Marubeni Corporation - India
- Orica Mining Services - Indonesia
- Port Waratah Coal Services - Australia
- Africa Commodities Group - South Africa
- Anglo American - United Kingdom
- Meenaskhi Energy Private Limited - India
- Oldendorff Carriers - Singapore
- Aditya Birla Group - India
- Grasim Industreis Ltd - India
- Wilmar Investment Holdings
- Asmin Koalindo Tuhup - Indonesia
- Baramulti Group, Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Thai Mozambique Logistica
- Globalindo Alam Lestari - Indonesia
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- Coal and Oil Company - UAE
- Riau Bara Harum - Indonesia
- Coastal Gujarat Power Limited - India
- GVK Power & Infra Limited - India
- Commonwealth Bank - Australia
- Heidelberg Cement - Germany
- IHS Mccloskey Coal Group - USA
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- Borneo Indobara - Indonesia
- Semirara Mining Corp, Philippines
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- Energy Development Corp, Philippines
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- Kideco Jaya Agung - Indonesia
- Samtan Co., Ltd - South Korea
- Gujarat Electricity Regulatory Commission - India
- Chamber of Mines of South Africa
- Global Green Power PLC Corporation, Philippines
- Coalindo Energy - Indonesia
- Bhushan Steel Limited - India
- Bayan Resources Tbk. - Indonesia
- Eastern Coal Council - USA
- The University of Queensland
- Makarim & Taira - Indonesia
- Thiess Contractors Indonesia
- Romanian Commodities Exchange
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- The State Trading Corporation of India Ltd
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- Kaltim Prima Coal - Indonesia
- Price Waterhouse Coopers - Russia
- Minerals Council of Australia
- Cigading International Bulk Terminal - Indonesia
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- Kumho Petrochemical, South Korea
- Mjunction Services Limited - India
- Binh Thuan Hamico - Vietnam
- ICICI Bank Limited - India
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- London Commodity Brokers - England
- OPG Power Generation Pvt Ltd - India
- VISA Power Limited - India
- Siam City Cement PLC, Thailand
- Sojitz Corporation - Japan
- Bhatia International Limited - India
- Ministry of Mines - Canada
- Indika Energy - Indonesia
- Mercator Lines Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Xindia Steels Limited - India
- Iligan Light & Power Inc, Philippines
- Power Finance Corporation Ltd., India
- GMR Energy Limited - India
- Parry Sugars Refinery, India
- White Energy Company Limited
- McConnell Dowell - Australia
- Parliament of New Zealand
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- Tamil Nadu electricity Board
- Georgia Ports Authority, United States
- Meralco Power Generation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Simpson Spence & Young - Indonesia
- Toyota Tsusho Corporation, Japan
- Ministry of Transport, Egypt
- Australian Commodity Traders Exchange
- Indian Oil Corporation Limited
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- Banpu Public Company Limited - Thailand
- Central Electricity Authority - India
- Merrill Lynch Commodities Europe
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- Antam Resourcindo - Indonesia
- SN Aboitiz Power Inc, Philippines
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- CNBM International Corporation - China
- Trasteel International SA, Italy
- Altura Mining Limited, Indonesia
- Sarangani Energy Corporation, Philippines
- Australian Coal Association
- Singapore Mercantile Exchange
- Formosa Plastics Group - Taiwan
- Uttam Galva Steels Limited - India
- Vizag Seaport Private Limited - India
- Central Java Power - Indonesia
- Larsen & Toubro Limited - India
- India Bulls Power Limited - India
- Karaikal Port Pvt Ltd - India
- Ambuja Cements Ltd - India
- Indogreen Group - Indonesia
- Metalloyd Limited - United Kingdom
- Eastern Energy - Thailand
- Straits Asia Resources Limited - Singapore
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- Jindal Steel & Power Ltd - India
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- Latin American Coal - Colombia
- PowerSource Philippines DevCo
- Kapuas Tunggal Persada - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Bulk Trading Sa - Switzerland
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