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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, 20 May 09
COAL & OIL BAGS TWO CONTRACTS TO SUPPLY COAL TO CEMENT & SUGAR INDUSTRY IN INDIA
COALspot.com: According to website of Coal & Oil Company, Aditya Birla Group (Ultratech) have placed orders with Coal and Oil Company for supply ...
Wednesday, 20 May 09
CIL MAY URGE NEW GOVERNMENT TO HIKE COAL PRICE - STEELGURU
BL reported that soon after assuming office the new government may be faced with a proposal for an increase in prices of coal by Coal India Limited ...
Wednesday, 20 May 09
S.KOREA COAL IMPORTS IN APRIL DOWN 22 PCT Y/Y - REUTERS
South Korea's imports of heating coal in April fell 22 percent from a year earlier on bearish demand from domestic utilities, industry data showed ...
Wednesday, 20 May 09
THE WORLD'S TOP COAL TRADING COMPANIES - REUTERS
The international physical steam coal market has become increasingly liquid and tradeable during the past five years.
Physical global seaborne co ...
Wednesday, 20 May 09
SHIPPING INDEX RISES TO 7-MONTH HIGH AS CHINESE DEMAND ADVANCES - BLOOMBERG
The Baltic Dry Index, a measure of shipping costs for commodities, rose to a seven-month high in London on accelerating Chinese demand for iron ore. ...
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- Indogreen Group - Indonesia
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- Minerals Council of Australia
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- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Maheswari Brothers Coal Limited - India
- Banpu Public Company Limited - Thailand
- Straits Asia Resources Limited - Singapore
- Ministry of Finance - Indonesia
- Kobexindo Tractors - Indoneisa
- Sakthi Sugars Limited - India
- Toyota Tsusho Corporation, Japan
- Bulk Trading Sa - Switzerland
- San Jose City I Power Corp, Philippines
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- Timah Investasi Mineral - Indoneisa
- South Luzon Thermal Energy Corporation
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- Bharathi Cement Corporation - India
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- Coastal Gujarat Power Limited - India
- European Bulk Services B.V. - Netherlands
- Africa Commodities Group - South Africa
- The Treasury - Australian Government
- Wood Mackenzie - Singapore
- OPG Power Generation Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
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- Indian Energy Exchange, India
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- Sojitz Corporation - Japan
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- Energy Link Ltd, New Zealand
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- MS Steel International - UAE
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- Mercator Lines Limited - India
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- Alfred C Toepfer International GmbH - Germany
- Siam City Cement - Thailand
- Holcim Trading Pte Ltd - Singapore
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- The State Trading Corporation of India Ltd
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- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Deloitte Consulting - India
- Electricity Authority, New Zealand
- Ambuja Cements Ltd - India
- Rio Tinto Coal - Australia
- McConnell Dowell - Australia
- Eastern Energy - Thailand
- Power Finance Corporation Ltd., India
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- The University of Queensland
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- Sarangani Energy Corporation, Philippines
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- Independent Power Producers Association of India
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- Sindya Power Generating Company Private Ltd
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- Bank of Tokyo Mitsubishi UFJ Ltd
- Singapore Mercantile Exchange
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- Bhatia International Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Gujarat Sidhee Cement - India
- White Energy Company Limited
- Gujarat Electricity Regulatory Commission - India
- Attock Cement Pakistan Limited
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- Grasim Industreis Ltd - India
- Bangladesh Power Developement Board
- Semirara Mining Corp, Philippines
- Sree Jayajothi Cements Limited - India
- Cement Manufacturers Association - India
- PTC India Limited - India
- Pendopo Energi Batubara - Indonesia
- Merrill Lynch Commodities Europe
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- Manunggal Multi Energi - Indonesia
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- PetroVietnam Power Coal Import and Supply Company
- Chamber of Mines of South Africa
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- Petron Corporation, Philippines
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- Latin American Coal - Colombia
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- Renaissance Capital - South Africa
- Indika Energy - Indonesia
- ASAPP Information Group - India
- Orica Australia Pty. Ltd.
- TeaM Sual Corporation - Philippines
- Semirara Mining and Power Corporation, Philippines
- Coal and Oil Company - UAE
- Borneo Indobara - Indonesia
- GAC Shipping (India) Pvt Ltd
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- Rashtriya Ispat Nigam Limited - India
- Barasentosa Lestari - Indonesia
- Australian Coal Association
- Tamil Nadu electricity Board
- Binh Thuan Hamico - Vietnam
- Georgia Ports Authority, United States
- Videocon Industries ltd - India
- IHS Mccloskey Coal Group - USA
- Global Business Power Corporation, Philippines
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- Parry Sugars Refinery, India
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- Malabar Cements Ltd - India
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- CIMB Investment Bank - Malaysia
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- India Bulls Power Limited - India
- VISA Power Limited - India
- TNB Fuel Sdn Bhd - Malaysia
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- Economic Council, Georgia
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- Kumho Petrochemical, South Korea
- Thiess Contractors Indonesia
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- ICICI Bank Limited - India
- Anglo American - United Kingdom
- Cigading International Bulk Terminal - Indonesia
- Carbofer General Trading SA - India
- Global Green Power PLC Corporation, Philippines
- Mercuria Energy - Indonesia
- International Coal Ventures Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- Baramulti Group, Indonesia
- Krishnapatnam Port Company Ltd. - India
- Asmin Koalindo Tuhup - Indonesia
- Xindia Steels Limited - India
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- Billiton Holdings Pty Ltd - Australia
- Parliament of New Zealand
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- Leighton Contractors Pty Ltd - Australia
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