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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, 27 May 09
NEWCASTLE PORT'S WEEKLY COAL EXPORTS INCREASE 3.6% - BLOOMBERG
Coal shipments from Australia’s Newcastle port, the world’s biggest export harbor for the fuel, rose 3.6 percent last week while the num ...
Wednesday, 27 May 09
EUROPEAN COAL PRICES FOR 2010 SETTLEMENT DROP TO 11-DAY LOW - BLOOMBERG
Benchmark European coal derivatives declined to an 11-day low as oil prices slumped.
Coal for delivery to Amsterdam, Rotterdam or Antwerp with se ...
Tuesday, 26 May 09
NEW MINING PERMITS TO BE OBTAINABLE WITHIN TWO WEEKS' TIME - MAJALAHTAMBANG
The Indonesian government is currently formulating a procedure for companies willing to obtain mining permits (IUP in its Indonesian abbreviation). ...
Tuesday, 26 May 09
KADIN CALLS FOR BIGGER RECOGNITION OF MINING SECTOR - MAJALAHTAMBANG
The Indonesian Chamber of Commerce and Industry (KADIN Indonesia) had called other sectors, particularly the forestry and the land administration se ...
Tuesday, 26 May 09
TUTICORIN PORT TO INVEST RS 700CR FOR COAL HANDLING FACILITIES
Business Standard reported that, The Tuticorin Port will develop coal handling facilities for state-run Neyveli Lignite Corporation (NLC) and Coasta ...
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- Siam City Cement PLC, Thailand
- Timah Investasi Mineral - Indoneisa
- Directorate General of MIneral and Coal - Indonesia
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- Karbindo Abesyapradhi - Indoneisa
- Jorong Barutama Greston.PT - Indonesia
- The University of Queensland
- The Treasury - Australian Government
- Pendopo Energi Batubara - Indonesia
- Dalmia Cement Bharat India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
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- Australian Commodity Traders Exchange
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- Ministry of Finance - Indonesia
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- India Bulls Power Limited - India
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- Oldendorff Carriers - Singapore
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- Meenaskhi Energy Private Limited - India
- Minerals Council of Australia
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- Metalloyd Limited - United Kingdom
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- Kohat Cement Company Ltd. - Pakistan
- Indian Oil Corporation Limited
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- South Luzon Thermal Energy Corporation
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- Indian Energy Exchange, India
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- Malabar Cements Ltd - India
- Indonesian Coal Mining Association
- Rio Tinto Coal - Australia
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- Ministry of Mines - Canada
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- TeaM Sual Corporation - Philippines
- SN Aboitiz Power Inc, Philippines
- Merrill Lynch Commodities Europe
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- Indika Energy - Indonesia
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- Jaiprakash Power Ventures ltd
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- Marubeni Corporation - India
- Bukit Baiduri Energy - Indonesia
- New Zealand Coal & Carbon
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- Holcim Trading Pte Ltd - Singapore
- Ministry of Transport, Egypt
- Aditya Birla Group - India
- Global Business Power Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
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- Formosa Plastics Group - Taiwan
- PNOC Exploration Corporation - Philippines
- Antam Resourcindo - Indonesia
- Directorate Of Revenue Intelligence - India
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- Posco Energy - South Korea
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- Meralco Power Generation, Philippines
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- Goldman Sachs - Singapore
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- Bhatia International Limited - India
- Wood Mackenzie - Singapore
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- Borneo Indobara - Indonesia
- GAC Shipping (India) Pvt Ltd
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- MS Steel International - UAE
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- Petrochimia International Co. Ltd.- Taiwan
- Eastern Energy - Thailand
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- Georgia Ports Authority, United States
- Leighton Contractors Pty Ltd - Australia
- Indo Tambangraya Megah - Indonesia
- The State Trading Corporation of India Ltd
- London Commodity Brokers - England
- McConnell Dowell - Australia
- Grasim Industreis Ltd - India
- Billiton Holdings Pty Ltd - Australia
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- Interocean Group of Companies - India
- Globalindo Alam Lestari - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Economic Council, Georgia
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- Energy Link Ltd, New Zealand
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- Riau Bara Harum - Indonesia
- Price Waterhouse Coopers - Russia
- Coastal Gujarat Power Limited - India
- Indogreen Group - Indonesia
- Larsen & Toubro Limited - India
- CIMB Investment Bank - Malaysia
- Bahari Cakrawala Sebuku - Indonesia
- Thai Mozambique Logistica
- Binh Thuan Hamico - Vietnam
- Africa Commodities Group - South Africa
- Siam City Cement - Thailand
- White Energy Company Limited
- Romanian Commodities Exchange
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- Bharathi Cement Corporation - India
- Coal and Oil Company - UAE
- SMC Global Power, Philippines
- Global Green Power PLC Corporation, Philippines
- Semirara Mining Corp, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Electricity Authority, New Zealand
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- Kideco Jaya Agung - Indonesia
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- Videocon Industries ltd - India
- Orica Australia Pty. Ltd.
- IHS Mccloskey Coal Group - USA
- Baramulti Group, Indonesia
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- Kartika Selabumi Mining - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Mercuria Energy - Indonesia
- Bangladesh Power Developement Board
- Bank of Tokyo Mitsubishi UFJ Ltd
- GVK Power & Infra Limited - India
- Australian Coal Association
- Bulk Trading Sa - Switzerland
- Kaltim Prima Coal - Indonesia
- Simpson Spence & Young - Indonesia
- Global Coal Blending Company Limited - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Independent Power Producers Association of India
- AsiaOL BioFuels Corp., Philippines
- Ind-Barath Power Infra Limited - India
- ICICI Bank Limited - India
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- Asmin Koalindo Tuhup - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Semirara Mining and Power Corporation, Philippines
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- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ceylon Electricity Board - Sri Lanka
- Toyota Tsusho Corporation, Japan
- Pipit Mutiara Jaya. PT, Indonesia
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