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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, 22 May 09
CHURCHILL DOUBLES INDONESIAN COAL PROJECT RESOURCE ESTIMATE - STEEL GURU
Mining Weekly quoted Churchill Mining as saying that the resource at its East Kutai coal project in Indonesia has more than doubled to 3.18 billion ...
Friday, 22 May 09
INDONESIA`S BUKIT ASAM TO HAVE POWER PLANT IN 2011 - ANTARA
The construction of a power plant in South Sumatra by coal mining company PT Tambang Batubara Bukit Asam will be completed in April 2011.
T ...
Friday, 22 May 09
NOBLE WINS CONTROL OF AUSTRALIA'S GLOUCESTER COAL - BLOOMBERG
Noble Group Ltd., a Hong Kong- based commodity supplier, won control of Australia’s Gloucester Coal Ltd. after last week raising its cash bid ...
Thursday, 21 May 09
FBR STARTS COVERAGE OF SHIPPING SECTOR - REUTERS
Friedman Billings Ramsey began coverage of the shipping industry, saying the sector, which is amidst a deep cyclical downturn, is poised for a recov ...
Thursday, 21 May 09
INDONESIAN COAL PRODUCTION IN Q1 BELOW TARGET - STEEL GURU
Mr Bambang Gatot Ariyono director for coal and mineral development at the Energy and Mineral Resources Ministry said that the coal production in the ...
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- Minerals Council of Australia
- Pendopo Energi Batubara - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Heidelberg Cement - Germany
- CNBM International Corporation - China
- IHS Mccloskey Coal Group - USA
- Meralco Power Generation, Philippines
- Parry Sugars Refinery, India
- Krishnapatnam Port Company Ltd. - India
- Toyota Tsusho Corporation, Japan
- Vedanta Resources Plc - India
- Energy Link Ltd, New Zealand
- Orica Australia Pty. Ltd.
- Bahari Cakrawala Sebuku - Indonesia
- Petron Corporation, Philippines
- Sical Logistics Limited - India
- Attock Cement Pakistan Limited
- Offshore Bulk Terminal Pte Ltd, Singapore
- Carbofer General Trading SA - India
- PNOC Exploration Corporation - Philippines
- Samtan Co., Ltd - South Korea
- Anglo American - United Kingdom
- International Coal Ventures Pvt Ltd - India
- Cement Manufacturers Association - India
- Electricity Authority, New Zealand
- GVK Power & Infra Limited - India
- Star Paper Mills Limited - India
- Mercuria Energy - Indonesia
- Makarim & Taira - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Karbindo Abesyapradhi - Indoneisa
- New Zealand Coal & Carbon
- Savvy Resources Ltd - HongKong
- Indonesian Coal Mining Association
- Indian Oil Corporation Limited
- Ministry of Transport, Egypt
- Posco Energy - South Korea
- Kartika Selabumi Mining - Indonesia
- CIMB Investment Bank - Malaysia
- GMR Energy Limited - India
- McConnell Dowell - Australia
- Jaiprakash Power Ventures ltd
- The University of Queensland
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Essar Steel Hazira Ltd - India
- ASAPP Information Group - India
- Bukit Asam (Persero) Tbk - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Mjunction Services Limited - India
- Parliament of New Zealand
- Bayan Resources Tbk. - Indonesia
- TeaM Sual Corporation - Philippines
- Medco Energi Mining Internasional
- Bangladesh Power Developement Board
- Asmin Koalindo Tuhup - Indonesia
- Australian Coal Association
- Sree Jayajothi Cements Limited - India
- Singapore Mercantile Exchange
- Electricity Generating Authority of Thailand
- Antam Resourcindo - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ambuja Cements Ltd - India
- Simpson Spence & Young - Indonesia
- Gujarat Sidhee Cement - India
- OPG Power Generation Pvt Ltd - India
- Eastern Energy - Thailand
- Petrochimia International Co. Ltd.- Taiwan
- Global Coal Blending Company Limited - Australia
- Coalindo Energy - Indonesia
- Leighton Contractors Pty Ltd - Australia
- India Bulls Power Limited - India
- London Commodity Brokers - England
- Videocon Industries ltd - India
- Renaissance Capital - South Africa
- Agrawal Coal Company - India
- SMG Consultants - Indonesia
- Kobexindo Tractors - Indoneisa
- Price Waterhouse Coopers - Russia
- Vijayanagar Sugar Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- Wood Mackenzie - Singapore
- Chamber of Mines of South Africa
- Kohat Cement Company Ltd. - Pakistan
- Coastal Gujarat Power Limited - India
- South Luzon Thermal Energy Corporation
- Wilmar Investment Holdings
- Therma Luzon, Inc, Philippines
- Chettinad Cement Corporation Ltd - India
- Timah Investasi Mineral - Indoneisa
- Australian Commodity Traders Exchange
- Kepco SPC Power Corporation, Philippines
- Central Java Power - Indonesia
- Marubeni Corporation - India
- Bukit Baiduri Energy - Indonesia
- Deloitte Consulting - India
- Maharashtra Electricity Regulatory Commission - India
- Kaltim Prima Coal - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Bhatia International Limited - India
- Indika Energy - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Karaikal Port Pvt Ltd - India
- Orica Mining Services - Indonesia
- Oldendorff Carriers - Singapore
- Meenaskhi Energy Private Limited - India
- Africa Commodities Group - South Africa
- Ceylon Electricity Board - Sri Lanka
- Billiton Holdings Pty Ltd - Australia
- Jorong Barutama Greston.PT - Indonesia
- Bharathi Cement Corporation - India
- Altura Mining Limited, Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Sindya Power Generating Company Private Ltd
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indo Tambangraya Megah - Indonesia
- SN Aboitiz Power Inc, Philippines
- Trasteel International SA, Italy
- Mintek Dendrill Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Dalmia Cement Bharat India
- Formosa Plastics Group - Taiwan
- Vizag Seaport Private Limited - India
- Tamil Nadu electricity Board
- White Energy Company Limited
- San Jose City I Power Corp, Philippines
- Standard Chartered Bank - UAE
- Borneo Indobara - Indonesia
- Semirara Mining Corp, Philippines
- Riau Bara Harum - Indonesia
- Interocean Group of Companies - India
- IEA Clean Coal Centre - UK
- AsiaOL BioFuels Corp., Philippines
- Indogreen Group - Indonesia
- Siam City Cement PLC, Thailand
- Gujarat Mineral Development Corp Ltd - India
- Merrill Lynch Commodities Europe
- ICICI Bank Limited - India
- Romanian Commodities Exchange
- Energy Development Corp, Philippines
- Ind-Barath Power Infra Limited - India
- Bhushan Steel Limited - India
- Metalloyd Limited - United Kingdom
- TNB Fuel Sdn Bhd - Malaysia
- Cigading International Bulk Terminal - Indonesia
- Bulk Trading Sa - Switzerland
- Holcim Trading Pte Ltd - Singapore
- Independent Power Producers Association of India
- Aboitiz Power Corporation - Philippines
- Port Waratah Coal Services - Australia
- Edison Trading Spa - Italy
- Binh Thuan Hamico - Vietnam
- Aditya Birla Group - India
- Jindal Steel & Power Ltd - India
- VISA Power Limited - India
- Kideco Jaya Agung - Indonesia
- Goldman Sachs - Singapore
- MS Steel International - UAE
- LBH Netherlands Bv - Netherlands
- Straits Asia Resources Limited - Singapore
- Directorate Of Revenue Intelligence - India
- Intertek Mineral Services - Indonesia
- PTC India Limited - India
- SMC Global Power, Philippines
- Kapuas Tunggal Persada - Indonesia
- Central Electricity Authority - India
- Lanco Infratech Ltd - India
- Manunggal Multi Energi - Indonesia
- Larsen & Toubro Limited - India
- Bhoruka Overseas - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Thiess Contractors Indonesia
- Ministry of Finance - Indonesia
- Global Green Power PLC Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- Power Finance Corporation Ltd., India
- Thai Mozambique Logistica
- Indian Energy Exchange, India
- Ministry of Mines - Canada
- Malabar Cements Ltd - India
- Bukit Makmur.PT - Indonesia
- Iligan Light & Power Inc, Philippines
- Maheswari Brothers Coal Limited - India
- Economic Council, Georgia
- Banpu Public Company Limited - Thailand
- Commonwealth Bank - Australia
- PowerSource Philippines DevCo
- The State Trading Corporation of India Ltd
- The Treasury - Australian Government
- Tata Chemicals Ltd - India
- Rio Tinto Coal - Australia
- Miang Besar Coal Terminal - Indonesia
- Xindia Steels Limited - India
- Uttam Galva Steels Limited - India
- Global Business Power Corporation, Philippines
- Sarangani Energy Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Sojitz Corporation - Japan
- Planning Commission, India
- Eastern Coal Council - USA
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- GN Power Mariveles Coal Plant, Philippines
- Latin American Coal - Colombia
- Sakthi Sugars Limited - India
- Madhucon Powers Ltd - India
- Salva Resources Pvt Ltd - India
- Kumho Petrochemical, South Korea
- Mercator Lines Limited - India
- Grasim Industreis Ltd - India
- Coal and Oil Company - UAE
- European Bulk Services B.V. - Netherlands
- Baramulti Group, Indonesia
- Siam City Cement - Thailand
- Alfred C Toepfer International GmbH - Germany
- GAC Shipping (India) Pvt Ltd
- Bank of Tokyo Mitsubishi UFJ Ltd
- Georgia Ports Authority, United States
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