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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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- McConnell Dowell - Australia
- Intertek Mineral Services - Indonesia
- Ministry of Finance - Indonesia
- Coal and Oil Company - UAE
- Port Waratah Coal Services - Australia
- Electricity Generating Authority of Thailand
- Salva Resources Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- IHS Mccloskey Coal Group - USA
- Bhushan Steel Limited - India
- Billiton Holdings Pty Ltd - Australia
- GAC Shipping (India) Pvt Ltd
- Alfred C Toepfer International GmbH - Germany
- Bangladesh Power Developement Board
- Central Electricity Authority - India
- CNBM International Corporation - China
- Aboitiz Power Corporation - Philippines
- Chamber of Mines of South Africa
- Pipit Mutiara Jaya. PT, Indonesia
- Aditya Birla Group - India
- Thiess Contractors Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Samtan Co., Ltd - South Korea
- India Bulls Power Limited - India
- Eastern Coal Council - USA
- Kapuas Tunggal Persada - Indonesia
- Eastern Energy - Thailand
- Mintek Dendrill Indonesia
- Riau Bara Harum - Indonesia
- The State Trading Corporation of India Ltd
- Indika Energy - Indonesia
- Rio Tinto Coal - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Savvy Resources Ltd - HongKong
- Merrill Lynch Commodities Europe
- Vedanta Resources Plc - India
- Bhoruka Overseas - Indonesia
- Mercuria Energy - Indonesia
- Vizag Seaport Private Limited - India
- Coalindo Energy - Indonesia
- Orica Australia Pty. Ltd.
- Ambuja Cements Ltd - India
- SMG Consultants - Indonesia
- Binh Thuan Hamico - Vietnam
- Singapore Mercantile Exchange
- Renaissance Capital - South Africa
- Leighton Contractors Pty Ltd - Australia
- TeaM Sual Corporation - Philippines
- Barasentosa Lestari - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Indo Tambangraya Megah - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Formosa Plastics Group - Taiwan
- Trasteel International SA, Italy
- Bank of Tokyo Mitsubishi UFJ Ltd
- Deloitte Consulting - India
- Dalmia Cement Bharat India
- Goldman Sachs - Singapore
- CIMB Investment Bank - Malaysia
- Gujarat Mineral Development Corp Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Makarim & Taira - Indonesia
- Xindia Steels Limited - India
- Bhatia International Limited - India
- Parliament of New Zealand
- Sree Jayajothi Cements Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Posco Energy - South Korea
- Siam City Cement - Thailand
- Heidelberg Cement - Germany
- Manunggal Multi Energi - Indonesia
- Jaiprakash Power Ventures ltd
- Central Java Power - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Attock Cement Pakistan Limited
- Edison Trading Spa - Italy
- Toyota Tsusho Corporation, Japan
- Petrochimia International Co. Ltd.- Taiwan
- AsiaOL BioFuels Corp., Philippines
- Jindal Steel & Power Ltd - India
- Orica Mining Services - Indonesia
- VISA Power Limited - India
- Maheswari Brothers Coal Limited - India
- Ceylon Electricity Board - Sri Lanka
- GMR Energy Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Malabar Cements Ltd - India
- Miang Besar Coal Terminal - Indonesia
- IEA Clean Coal Centre - UK
- Kaltim Prima Coal - Indonesia
- Meenaskhi Energy Private Limited - India
- Electricity Authority, New Zealand
- Power Finance Corporation Ltd., India
- Metalloyd Limited - United Kingdom
- Chettinad Cement Corporation Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- SN Aboitiz Power Inc, Philippines
- Borneo Indobara - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Therma Luzon, Inc, Philippines
- San Jose City I Power Corp, Philippines
- Uttam Galva Steels Limited - India
- Romanian Commodities Exchange
- Bulk Trading Sa - Switzerland
- Krishnapatnam Port Company Ltd. - India
- Kumho Petrochemical, South Korea
- Independent Power Producers Association of India
- Sojitz Corporation - Japan
- Tata Chemicals Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Baramulti Group, Indonesia
- Directorate Of Revenue Intelligence - India
- Banpu Public Company Limited - Thailand
- Sical Logistics Limited - India
- OPG Power Generation Pvt Ltd - India
- Anglo American - United Kingdom
- Indogreen Group - Indonesia
- Semirara Mining Corp, Philippines
- Simpson Spence & Young - Indonesia
- Karaikal Port Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- SMC Global Power, Philippines
- Semirara Mining and Power Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Globalindo Alam Lestari - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Mjunction Services Limited - India
- London Commodity Brokers - England
- Indian Oil Corporation Limited
- Sarangani Energy Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- Ministry of Transport, Egypt
- Videocon Industries ltd - India
- Bukit Baiduri Energy - Indonesia
- Star Paper Mills Limited - India
- Carbofer General Trading SA - India
- Africa Commodities Group - South Africa
- Global Coal Blending Company Limited - Australia
- Grasim Industreis Ltd - India
- Global Green Power PLC Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- Offshore Bulk Terminal Pte Ltd, Singapore
- Gujarat Sidhee Cement - India
- Thai Mozambique Logistica
- Ind-Barath Power Infra Limited - India
- The Treasury - Australian Government
- Interocean Group of Companies - India
- Petron Corporation, Philippines
- Ministry of Mines - Canada
- ICICI Bank Limited - India
- MS Steel International - UAE
- ASAPP Information Group - India
- PTC India Limited - India
- Energy Development Corp, Philippines
- New Zealand Coal & Carbon
- Bukit Makmur.PT - Indonesia
- European Bulk Services B.V. - Netherlands
- Energy Link Ltd, New Zealand
- Larsen & Toubro Limited - India
- Global Business Power Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Commonwealth Bank - Australia
- Altura Mining Limited, Indonesia
- Minerals Council of Australia
- South Luzon Thermal Energy Corporation
- Bahari Cakrawala Sebuku - Indonesia
- Essar Steel Hazira Ltd - India
- Australian Coal Association
- Meralco Power Generation, Philippines
- Australian Commodity Traders Exchange
- Asia Pacific Energy Resources Ventures Inc, Philippines
- White Energy Company Limited
- Oldendorff Carriers - Singapore
- Bayan Resources Tbk. - Indonesia
- Bharathi Cement Corporation - India
- Iligan Light & Power Inc, Philippines
- Agrawal Coal Company - India
- Standard Chartered Bank - UAE
- Indian Energy Exchange, India
- Georgia Ports Authority, United States
- Madhucon Powers Ltd - India
- Medco Energi Mining Internasional
- Sakthi Sugars Limited - India
- Parry Sugars Refinery, India
- Sinarmas Energy and Mining - Indonesia
- The University of Queensland
- LBH Netherlands Bv - Netherlands
- International Coal Ventures Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- Marubeni Corporation - India
- Cement Manufacturers Association - India
- Lanco Infratech Ltd - India
- Wood Mackenzie - Singapore
- Antam Resourcindo - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Latin American Coal - Colombia
- Cigading International Bulk Terminal - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Pendopo Energi Batubara - Indonesia
- GVK Power & Infra Limited - India
- Rashtriya Ispat Nigam Limited - India
- Mercator Lines Limited - India
- Planning Commission, India
- Siam City Cement PLC, Thailand
- Indonesian Coal Mining Association
- Price Waterhouse Coopers - Russia
- Tamil Nadu electricity Board
- Economic Council, Georgia
- Kideco Jaya Agung - Indonesia
- PowerSource Philippines DevCo
- Kartika Selabumi Mining - Indonesia
- Coastal Gujarat Power Limited - India
- Wilmar Investment Holdings
- Kepco SPC Power Corporation, Philippines
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