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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, 13 May 09
INDONESIA ADARO NET PROFIT, REVENUE TO RISE IN 2009 - REUTERS
INDONESIA's largest coal producer by market value, PT Adaro Energy Tbk, expects double-digit growth in revenue and net profit this year, an officia ...
Wednesday, 13 May 09
ALPHA TO BUY RIVAL, CREATING NEW US COAL HEAVYWEIGHT - MININGWEEKLY.COM
Alpha Natural Resources, the biggest supplier of metallurgical coal in the US, has agreed to buy Maryland-based rival Foundation Coal for about $1,4 ...
Tuesday, 12 May 09
CHINA MINERS CUT COAL PRICE OFFER TO JAPAN UTILITIES - ALIBABA.COM
* Producers cut offer to $75.50 a tonne from over $80
* Negotiations may conclude soon as price gap narrows
* New offer at discount of about 43 pe ...
Tuesday, 12 May 09
INDO TAMBANGRAYA SEES 2010 COAL OUTPUT UP 25 PCT - REUTERS
Indonesian coal miner, PT Indo Tambangraya Megah (ITMG.JK), expects coal output to increase by up to 25 percent next year as production kicks in at ...
Tuesday, 12 May 09
INDIKA EXPECTS TO INCREASE COAL PRODUCTION BY 12.68% IN 2010 - THE JAKARTA POST
Energy and infrastructure company PT Indika Energy, the parent company of Indonesia's third largest coal producer PT Kideco Jaya Agung, expects its ...
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- Bayan Resources Tbk. - Indonesia
- Straits Asia Resources Limited - Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Thiess Contractors Indonesia
- India Bulls Power Limited - India
- Indika Energy - Indonesia
- Tata Chemicals Ltd - India
- Tamil Nadu electricity Board
- GMR Energy Limited - India
- Gujarat Electricity Regulatory Commission - India
- Standard Chartered Bank - UAE
- Ceylon Electricity Board - Sri Lanka
- LBH Netherlands Bv - Netherlands
- Petrochimia International Co. Ltd.- Taiwan
- Meralco Power Generation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Mintek Dendrill Indonesia
- The University of Queensland
- Central Java Power - Indonesia
- Australian Coal Association
- Marubeni Corporation - India
- Bangladesh Power Developement Board
- Vijayanagar Sugar Pvt Ltd - India
- Commonwealth Bank - Australia
- Savvy Resources Ltd - HongKong
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kideco Jaya Agung - Indonesia
- Kepco SPC Power Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- VISA Power Limited - India
- Latin American Coal - Colombia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- ASAPP Information Group - India
- Ministry of Finance - Indonesia
- Riau Bara Harum - Indonesia
- Coastal Gujarat Power Limited - India
- Africa Commodities Group - South Africa
- Vedanta Resources Plc - India
- IEA Clean Coal Centre - UK
- Ind-Barath Power Infra Limited - India
- Malabar Cements Ltd - India
- San Jose City I Power Corp, Philippines
- Kaltim Prima Coal - Indonesia
- Intertek Mineral Services - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Electricity Authority, New Zealand
- Aditya Birla Group - India
- Georgia Ports Authority, United States
- Sindya Power Generating Company Private Ltd
- ICICI Bank Limited - India
- Global Business Power Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- Bukit Baiduri Energy - Indonesia
- Jaiprakash Power Ventures ltd
- Star Paper Mills Limited - India
- PetroVietnam Power Coal Import and Supply Company
- PTC India Limited - India
- Sical Logistics Limited - India
- Baramulti Group, Indonesia
- Indonesian Coal Mining Association
- Indo Tambangraya Megah - Indonesia
- Antam Resourcindo - Indonesia
- Central Electricity Authority - India
- SMC Global Power, Philippines
- Agrawal Coal Company - India
- Bukit Makmur.PT - Indonesia
- Bhoruka Overseas - Indonesia
- New Zealand Coal & Carbon
- Coal and Oil Company - UAE
- AsiaOL BioFuels Corp., Philippines
- Edison Trading Spa - Italy
- Attock Cement Pakistan Limited
- TeaM Sual Corporation - Philippines
- OPG Power Generation Pvt Ltd - India
- Bhushan Steel Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Deloitte Consulting - India
- Sojitz Corporation - Japan
- Asmin Koalindo Tuhup - Indonesia
- Meenaskhi Energy Private Limited - India
- Bhatia International Limited - India
- Economic Council, Georgia
- Parliament of New Zealand
- Sree Jayajothi Cements Limited - India
- Petron Corporation, Philippines
- The State Trading Corporation of India Ltd
- Grasim Industreis Ltd - India
- Karaikal Port Pvt Ltd - India
- Borneo Indobara - Indonesia
- Trasteel International SA, Italy
- Independent Power Producers Association of India
- Singapore Mercantile Exchange
- Minerals Council of Australia
- Power Finance Corporation Ltd., India
- Price Waterhouse Coopers - Russia
- Maheswari Brothers Coal Limited - India
- Holcim Trading Pte Ltd - Singapore
- Offshore Bulk Terminal Pte Ltd, Singapore
- Therma Luzon, Inc, Philippines
- Miang Besar Coal Terminal - Indonesia
- Siam City Cement - Thailand
- Interocean Group of Companies - India
- Indogreen Group - Indonesia
- Bulk Trading Sa - Switzerland
- London Commodity Brokers - England
- Globalindo Alam Lestari - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Global Coal Blending Company Limited - Australia
- Karbindo Abesyapradhi - Indoneisa
- Romanian Commodities Exchange
- Formosa Plastics Group - Taiwan
- Altura Mining Limited, Indonesia
- Makarim & Taira - Indonesia
- McConnell Dowell - Australia
- Xindia Steels Limited - India
- Mjunction Services Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Wood Mackenzie - Singapore
- Sinarmas Energy and Mining - Indonesia
- Bharathi Cement Corporation - India
- SN Aboitiz Power Inc, Philippines
- Rio Tinto Coal - Australia
- Planning Commission, India
- Aboitiz Power Corporation - Philippines
- The Treasury - Australian Government
- GVK Power & Infra Limited - India
- Coalindo Energy - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Australian Commodity Traders Exchange
- Gujarat Sidhee Cement - India
- SMG Consultants - Indonesia
- Directorate Of Revenue Intelligence - India
- International Coal Ventures Pvt Ltd - India
- Kumho Petrochemical, South Korea
- CIMB Investment Bank - Malaysia
- Thai Mozambique Logistica
- GN Power Mariveles Coal Plant, Philippines
- Merrill Lynch Commodities Europe
- Salva Resources Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- IHS Mccloskey Coal Group - USA
- Bank of Tokyo Mitsubishi UFJ Ltd
- Manunggal Multi Energi - Indonesia
- Indian Energy Exchange, India
- Kobexindo Tractors - Indoneisa
- Uttam Galva Steels Limited - India
- Port Waratah Coal Services - Australia
- Lanco Infratech Ltd - India
- Carbofer General Trading SA - India
- TNB Fuel Sdn Bhd - Malaysia
- White Energy Company Limited
- Energy Development Corp, Philippines
- Dalmia Cement Bharat India
- Sakthi Sugars Limited - India
- South Luzon Thermal Energy Corporation
- Toyota Tsusho Corporation, Japan
- Eastern Coal Council - USA
- Cement Manufacturers Association - India
- Parry Sugars Refinery, India
- Krishnapatnam Port Company Ltd. - India
- Energy Link Ltd, New Zealand
- Binh Thuan Hamico - Vietnam
- Electricity Generating Authority of Thailand
- Renaissance Capital - South Africa
- CNBM International Corporation - China
- MS Steel International - UAE
- Rashtriya Ispat Nigam Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Larsen & Toubro Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Chamber of Mines of South Africa
- Pendopo Energi Batubara - Indonesia
- GAC Shipping (India) Pvt Ltd
- Madhucon Powers Ltd - India
- Jindal Steel & Power Ltd - India
- Iligan Light & Power Inc, Philippines
- Cigading International Bulk Terminal - Indonesia
- Posco Energy - South Korea
- Orica Australia Pty. Ltd.
- Siam City Cement PLC, Thailand
- Semirara Mining and Power Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- Samtan Co., Ltd - South Korea
- Simpson Spence & Young - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Mercuria Energy - Indonesia
- Ambuja Cements Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indian Oil Corporation Limited
- Metalloyd Limited - United Kingdom
- Heidelberg Cement - Germany
- Eastern Energy - Thailand
- Bukit Asam (Persero) Tbk - Indonesia
- Medco Energi Mining Internasional
- Ministry of Transport, Egypt
- Mercator Lines Limited - India
- Vizag Seaport Private Limited - India
- Videocon Industries ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Wilmar Investment Holdings
- Bahari Cakrawala Sebuku - Indonesia
- Timah Investasi Mineral - Indoneisa
- Ministry of Mines - Canada
- Banpu Public Company Limited - Thailand
- European Bulk Services B.V. - Netherlands
- Semirara Mining Corp, Philippines
- Barasentosa Lestari - Indonesia
- Oldendorff Carriers - Singapore
- Goldman Sachs - Singapore
- Anglo American - United Kingdom
- PowerSource Philippines DevCo
- Global Green Power PLC Corporation, Philippines
- Essar Steel Hazira Ltd - India
- Orica Mining Services - Indonesia
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