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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, 12 June 09
MERCATOR LINES TARGETS 30 MILLION TONNE FROM MOZAMBIQUE COAL MINE - STEEL GURU
India’s second largest private shipping company Mercator Lines has targeted production of 30 million tonnes of coal from its Mozambique mine o ...
Friday, 12 June 09
THERMAL COAL PRICE REMAINS STABLE IN SHANXI - STEEL GURU
It is reported that coming into June, no major changes are seen in coal supply-demand relations in Shanxi province. Statistics of Qinhuangdao port, ...
Thursday, 11 June 09
PT NALCO PLANS TO CONSTRUCT COAL-FIRED POWER PLANT IN SOUTH SUMATRA - ENERGY BUSINESS REVIEW
PT Nalco (National Aluminium Company Limited), an Indian-based company, plans to construct a coal-fired power plant in South Sumatra. The company in ...
Thursday, 11 June 09
COAL PRODUCERS TO SEE BOOST IN DEMAND FROM ASIA PACIFIC - JAKARTA POST
The Jakarta Post reported that, at the recent 15th Coaltrans conference in Bali, we noted concerns related to rising oil prices at a faster pace tha ...
Wednesday, 10 June 09
BHP TO CUT 450 JOBS AT INDONESIAN COAL PROJECT - REUTERS
Reuters reported that, BHP Billiton Ltd will lay off all 450 workers at its Indonesian coal project after deciding not to go ahead with the pr ...
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- Xindia Steels Limited - India
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- McConnell Dowell - Australia
- Parliament of New Zealand
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- Cigading International Bulk Terminal - Indonesia
- Romanian Commodities Exchange
- Siam City Cement - Thailand
- Latin American Coal - Colombia
- Port Waratah Coal Services - Australia
- Carbofer General Trading SA - India
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- Ministry of Finance - Indonesia
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- Therma Luzon, Inc, Philippines
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- Mjunction Services Limited - India
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- Metalloyd Limited - United Kingdom
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- Coal and Oil Company - UAE
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- LBH Netherlands Bv - Netherlands
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- Standard Chartered Bank - UAE
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- Heidelberg Cement - Germany
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- Orica Australia Pty. Ltd.
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- Karbindo Abesyapradhi - Indoneisa
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- GMR Energy Limited - India
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- VISA Power Limited - India
- AsiaOL BioFuels Corp., Philippines
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- Indian Energy Exchange, India
- Price Waterhouse Coopers - Russia
- Essar Steel Hazira Ltd - India
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- Attock Cement Pakistan Limited
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- Electricity Generating Authority of Thailand
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- Bahari Cakrawala Sebuku - Indonesia
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- The State Trading Corporation of India Ltd
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- Sindya Power Generating Company Private Ltd
- Mintek Dendrill Indonesia
- Economic Council, Georgia
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- Georgia Ports Authority, United States
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- Baramulti Group, Indonesia
- Renaissance Capital - South Africa
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- Australian Coal Association
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- Planning Commission, India
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- Africa Commodities Group - South Africa
- Uttam Galva Steels Limited - India
- Commonwealth Bank - Australia
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- Minerals Council of Australia
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- Eastern Energy - Thailand
- Altura Mining Limited, Indonesia
- The University of Queensland
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- Electricity Authority, New Zealand
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- Bangladesh Power Developement Board
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- White Energy Company Limited
- Kartika Selabumi Mining - Indonesia
- Pendopo Energi Batubara - Indonesia
- Straits Asia Resources Limited - Singapore
- Independent Power Producers Association of India
- IEA Clean Coal Centre - UK
- Siam City Cement PLC, Thailand
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- Gujarat Electricity Regulatory Commission - India
- Intertek Mineral Services - Indonesia
- Singapore Mercantile Exchange
- Sojitz Corporation - Japan
- Indo Tambangraya Megah - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Chamber of Mines of South Africa
- Mercuria Energy - Indonesia
- Vizag Seaport Private Limited - India
- Posco Energy - South Korea
- Lanco Infratech Ltd - India
- Wood Mackenzie - Singapore
- Salva Resources Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
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- London Commodity Brokers - England
- Bukit Baiduri Energy - Indonesia
- Indian Oil Corporation Limited
- Holcim Trading Pte Ltd - Singapore
- PowerSource Philippines DevCo
- Meenaskhi Energy Private Limited - India
- Jorong Barutama Greston.PT - Indonesia
- IHS Mccloskey Coal Group - USA
- The Treasury - Australian Government
- Merrill Lynch Commodities Europe
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- Tamil Nadu electricity Board
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- Indonesian Coal Mining Association
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- Kohat Cement Company Ltd. - Pakistan
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- Sinarmas Energy and Mining - Indonesia
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