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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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Saturday, 06 June 09
IS THE RECESSION OVER ? - CAPT. REDDY, VISTAAR SHIPPING
COALspot.com (Singapore): Is the recession over, that is what most analysts think and seems so from the Baltic Index rally and firm commodity ...
Saturday, 06 June 09
COAL PRICE HIT RECORD ON STRONG CHINA DEMAND - INVESTMENT WATCH
Investment watch reported that, “Coal price hit a new high of over $72 a tonne at Australia’s Newcastle Port, a benchmark for Asia, spur ...
Friday, 05 June 09
CEMENT INDUSTRY NEEDS POLICY ON FLY ASH
H.M. Bangur, President of Cement Manufacturers' Association, on the objectives and economic impact of the proposed national policy on utilisation o ...
Thursday, 04 June 09
PAKISTAN TO IMPORT MORE COAL FROM INDONESIA - SEATRADE
COALspot.com (Pakistan): Richards bay to Pakistan sea freight has touched US$ 20.00 for 40,000/10 pct steam size in June 2009. South African c ...
Thursday, 04 June 09
CHINA'S SHANXI PROVINCE CONSIDERS COAL FUTURES BOURSE - MINE WEB
Mine Web reported that, China hopes to establish a coal futures exchange to obtain more rights on international pricing.
China's largest coal pr ...
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- Ambuja Cements Ltd - India
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- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Gujarat Sidhee Cement - India
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- Star Paper Mills Limited - India
- Metalloyd Limited - United Kingdom
- Commonwealth Bank - Australia
- Banpu Public Company Limited - Thailand
- Bangladesh Power Developement Board
- Goldman Sachs - Singapore
- Romanian Commodities Exchange
- The University of Queensland
- Straits Asia Resources Limited - Singapore
- MS Steel International - UAE
- Posco Energy - South Korea
- Sinarmas Energy and Mining - Indonesia
- Ministry of Mines - Canada
- Dalmia Cement Bharat India
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- Georgia Ports Authority, United States
- India Bulls Power Limited - India
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- Intertek Mineral Services - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
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- Indian Oil Corporation Limited
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- Mercuria Energy - Indonesia
- European Bulk Services B.V. - Netherlands
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- OPG Power Generation Pvt Ltd - India
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- Orica Australia Pty. Ltd.
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- Electricity Authority, New Zealand
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- IHS Mccloskey Coal Group - USA
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- Wood Mackenzie - Singapore
- Coal and Oil Company - UAE
- LBH Netherlands Bv - Netherlands
- Economic Council, Georgia
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- Alfred C Toepfer International GmbH - Germany
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- Electricity Generating Authority of Thailand
- Leighton Contractors Pty Ltd - Australia
- Sindya Power Generating Company Private Ltd
- Singapore Mercantile Exchange
- Simpson Spence & Young - Indonesia
- Binh Thuan Hamico - Vietnam
- TNB Fuel Sdn Bhd - Malaysia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Standard Chartered Bank - UAE
- Eastern Energy - Thailand
- Planning Commission, India
- Billiton Holdings Pty Ltd - Australia
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- Indian Energy Exchange, India
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- White Energy Company Limited
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- Kumho Petrochemical, South Korea
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- Australian Coal Association
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- PNOC Exploration Corporation - Philippines
- Tamil Nadu electricity Board
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- Price Waterhouse Coopers - Russia
- Barasentosa Lestari - Indonesia
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- Australian Commodity Traders Exchange
- Edison Trading Spa - Italy
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- Medco Energi Mining Internasional
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- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Renaissance Capital - South Africa
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- Meenaskhi Energy Private Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Parliament of New Zealand
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- SMC Global Power, Philippines
- Minerals Council of Australia
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- The State Trading Corporation of India Ltd
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- Kideco Jaya Agung - Indonesia
- Bhoruka Overseas - Indonesia
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- Cement Manufacturers Association - India
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- Maheswari Brothers Coal Limited - India
- Vizag Seaport Private Limited - India
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- SMG Consultants - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Merrill Lynch Commodities Europe
- Energy Development Corp, Philippines
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- Xindia Steels Limited - India
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- Wilmar Investment Holdings
- Sical Logistics Limited - India
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- CNBM International Corporation - China
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- Altura Mining Limited, Indonesia
- Manunggal Multi Energi - Indonesia
- Siam City Cement - Thailand
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- Power Finance Corporation Ltd., India
- Thai Mozambique Logistica
- Mercator Lines Limited - India
- London Commodity Brokers - England
- Larsen & Toubro Limited - India
- Port Waratah Coal Services - Australia
- Savvy Resources Ltd - HongKong
- Semirara Mining Corp, Philippines
- Aditya Birla Group - India
- McConnell Dowell - Australia
- TeaM Sual Corporation - Philippines
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- Mintek Dendrill Indonesia
- Samtan Co., Ltd - South Korea
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- Ministry of Finance - Indonesia
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- Trasteel International SA, Italy
- Lanco Infratech Ltd - India
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- Kartika Selabumi Mining - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Attock Cement Pakistan Limited
- Global Green Power PLC Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Meralco Power Generation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Africa Commodities Group - South Africa
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