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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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Thursday, 02 July 09
PETCOKE BOOMS AS CEMENT MAKERS TRY TO REPLACE COAL
* Cement makers led by Asia chase petcoke to replace coal
* Petcoke prices up $10/T Feb-Jun, set to rise further
* Domestic U.S. petcoke demand ma ...
Wednesday, 01 July 09
NEWCASTLE WEEKLY COAL EXPORTS RISE BY 12PCT
Bloomberg reported that Coal shipments from Australia’s Newcastle port, the world’s biggest export harbor for the fuel, gained 12% last ...
Wednesday, 01 July 09
RS 6,000CR MMTC COAL IMPORT PLAN UNDER CLOUD
The plan of MMTC Ltd, a trading firm under the commerce ministry, to import coal worth Rs 6,000 crore has come under cloud, with the Central ...
Wednesday, 01 July 09
INDONESIAN FIRM BIDS FOR 130,000T COAL FOR NAPOCOR
Top Philippine electricity producer National Power Corp. (Napocor) said on Wednesday it received two bids from Indonesia's PT Trubaindo and its loc ...
Wednesday, 01 July 09
COAL PRICE INDEX TO BE LAUNCHED IN JULY
India will soon get a coal index to track the coal price movement in the country.
India's leading e-commerce company Mjunction Services Ltd will ...
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- LBH Netherlands Bv - Netherlands
- Trasteel International SA, Italy
- Meralco Power Generation, Philippines
- Binh Thuan Hamico - Vietnam
- SMC Global Power, Philippines
- Sojitz Corporation - Japan
- Directorate Of Revenue Intelligence - India
- Energy Development Corp, Philippines
- San Jose City I Power Corp, Philippines
- Straits Asia Resources Limited - Singapore
- Energy Link Ltd, New Zealand
- Aboitiz Power Corporation - Philippines
- International Coal Ventures Pvt Ltd - India
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- The State Trading Corporation of India Ltd
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- Economic Council, Georgia
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- Medco Energi Mining Internasional
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- Edison Trading Spa - Italy
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- Pipit Mutiara Jaya. PT, Indonesia
- Commonwealth Bank - Australia
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- Gujarat Electricity Regulatory Commission - India
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- SMG Consultants - Indonesia
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- Indian Oil Corporation Limited
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- OPG Power Generation Pvt Ltd - India
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- Coal and Oil Company - UAE
- Independent Power Producers Association of India
- Maharashtra Electricity Regulatory Commission - India
- Wood Mackenzie - Singapore
- PNOC Exploration Corporation - Philippines
- Chamber of Mines of South Africa
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- Aditya Birla Group - India
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- Bhatia International Limited - India
- Africa Commodities Group - South Africa
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- Globalindo Alam Lestari - Indonesia
- CIMB Investment Bank - Malaysia
- Malabar Cements Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- European Bulk Services B.V. - Netherlands
- Electricity Generating Authority of Thailand
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- Indonesian Coal Mining Association
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- GN Power Mariveles Coal Plant, Philippines
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- The University of Queensland
- Ministry of Finance - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Marubeni Corporation - India
- Cigading International Bulk Terminal - Indonesia
- Thiess Contractors Indonesia
- Global Business Power Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Parry Sugars Refinery, India
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- Singapore Mercantile Exchange
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