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Friday, 15 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 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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Tuesday, 05 May 09
INDONESIA'S ADARO PAYS $78.6 MLN FOR COAL-BARGING FIRM - REUTERS
INDONESIA's largest coal producer by market value, PT Adaro Energy Tbk, said late on Monday it paid $78.6 million for a 74 percent stake in Orchard ...
Tuesday, 05 May 09
PHILIPPINES SEMIRARA STILL EXPECTS HIKE IN COAL SALES - BUSINESS MIRROR
DESPITE the anticipated soft demand resulting from the prevailing global financial crisis, the country’s largest coal producer Semirara Mining ...
Monday, 04 May 09
VISTAAR SINGAPORE SAYS, THIS MONTH DRY BULK FREIGHT LIKELY TO COME DOWN
COALspot.com (Singapore) - VISTAAR shipping Services Pte Limited of Singapore, said, the beginning of last week started with bit of weakness an ...
Monday, 04 May 09
PNOC-EC TO GROW COAL OPERATIONS - PHILIPPINE DAILY INQUIRER
LISTED firm Philippine National Oil Co.-Exploration Corp. plans to expand its operations this year to ensure the steady supply of coal and fur ...
Saturday, 02 May 09
BUMI'S FIRST-QUARTER PROFIT RISES 21% ON COAL PRICE - BLOOMBERG
PT BUMI RESOURCES, Asia’s biggest exporter of power-station coal, said first-quarter profit rose 21 percent after it earned higher prices for ...
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- Singapore Mercantile Exchange
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- Latin American Coal - Colombia
- Kepco SPC Power Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Electricity Authority, New Zealand
- Edison Trading Spa - Italy
- Heidelberg Cement - Germany
- Vijayanagar Sugar Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Miang Besar Coal Terminal - Indonesia
- Power Finance Corporation Ltd., India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Deloitte Consulting - India
- Thiess Contractors Indonesia
- TeaM Sual Corporation - Philippines
- Gujarat Mineral Development Corp Ltd - India
- Electricity Generating Authority of Thailand
- Ministry of Finance - Indonesia
- ICICI Bank Limited - India
- International Coal Ventures Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- India Bulls Power Limited - India
- Sojitz Corporation - Japan
- Bhoruka Overseas - Indonesia
- Malabar Cements Ltd - India
- Goldman Sachs - Singapore
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- Straits Asia Resources Limited - Singapore
- Intertek Mineral Services - Indonesia
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- Ministry of Mines - Canada
- Coal and Oil Company - UAE
- Ministry of Transport, Egypt
- PTC India Limited - India
- GVK Power & Infra Limited - India
- GMR Energy Limited - India
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- Wood Mackenzie - Singapore
- CIMB Investment Bank - Malaysia
- Standard Chartered Bank - UAE
- White Energy Company Limited
- Metalloyd Limited - United Kingdom
- Sical Logistics Limited - India
- Gujarat Electricity Regulatory Commission - India
- OPG Power Generation Pvt Ltd - India
- Australian Coal Association
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- VISA Power Limited - India
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- Orica Australia Pty. Ltd.
- Coastal Gujarat Power Limited - India
- Billiton Holdings Pty Ltd - Australia
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- PNOC Exploration Corporation - Philippines
- Chamber of Mines of South Africa
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- Mercator Lines Limited - India
- Riau Bara Harum - Indonesia
- Xindia Steels Limited - India
- McConnell Dowell - Australia
- Bhatia International Limited - India
- Rio Tinto Coal - Australia
- Wilmar Investment Holdings
- Bank of Tokyo Mitsubishi UFJ Ltd
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- Globalindo Alam Lestari - Indonesia
- Romanian Commodities Exchange
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- Tata Chemicals Ltd - India
- Mjunction Services Limited - India
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- Tamil Nadu electricity Board
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- Bukit Makmur.PT - Indonesia
- Baramulti Group, Indonesia
- Makarim & Taira - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
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- Trasteel International SA, Italy
- Cement Manufacturers Association - India
- Leighton Contractors Pty Ltd - Australia
- Ceylon Electricity Board - Sri Lanka
- Independent Power Producers Association of India
- Planning Commission, India
- The Treasury - Australian Government
- Simpson Spence & Young - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Georgia Ports Authority, United States
- Directorate Of Revenue Intelligence - India
- The State Trading Corporation of India Ltd
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Renaissance Capital - South Africa
- Interocean Group of Companies - India
- Thai Mozambique Logistica
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- Commonwealth Bank - Australia
- Global Coal Blending Company Limited - Australia
- Minerals Council of Australia
- Central Java Power - Indonesia
- Salva Resources Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- Uttam Galva Steels Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Coalindo Energy - Indonesia
- San Jose City I Power Corp, Philippines
- Eastern Energy - Thailand
- Global Business Power Corporation, Philippines
- Eastern Coal Council - USA
- GAC Shipping (India) Pvt Ltd
- Bangladesh Power Developement Board
- SN Aboitiz Power Inc, Philippines
- Kapuas Tunggal Persada - Indonesia
- Videocon Industries ltd - India
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- Mercuria Energy - Indonesia
- IHS Mccloskey Coal Group - USA
- Sinarmas Energy and Mining - Indonesia
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- Price Waterhouse Coopers - Russia
- Semirara Mining and Power Corporation, Philippines
- Petron Corporation, Philippines
- Larsen & Toubro Limited - India
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- Jorong Barutama Greston.PT - Indonesia
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- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Parliament of New Zealand
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- Medco Energi Mining Internasional
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- Port Waratah Coal Services - Australia
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- Indogreen Group - Indonesia
- Meralco Power Generation, Philippines
- MS Steel International - UAE
- Offshore Bulk Terminal Pte Ltd, Singapore
- Binh Thuan Hamico - Vietnam
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- Mintek Dendrill Indonesia
- Energy Development Corp, Philippines
- Indonesian Coal Mining Association
- Asia Pacific Energy Resources Ventures Inc, Philippines
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- Indian Oil Corporation Limited
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- Economic Council, Georgia
- Samtan Co., Ltd - South Korea
- Sindya Power Generating Company Private Ltd
- ASAPP Information Group - India
- Alfred C Toepfer International GmbH - Germany
- TNB Fuel Sdn Bhd - Malaysia
- Bayan Resources Tbk. - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Kumho Petrochemical, South Korea
- Asmin Koalindo Tuhup - Indonesia
- Australian Commodity Traders Exchange
- Indian Energy Exchange, India
- CNBM International Corporation - China
- The University of Queensland
- Iligan Light & Power Inc, Philippines
- Formosa Plastics Group - Taiwan
- Sakthi Sugars Limited - India
- Kobexindo Tractors - Indoneisa
- Posco Energy - South Korea
- Bukit Baiduri Energy - Indonesia
- Borneo Indobara - Indonesia
- Savvy Resources Ltd - HongKong
- Grasim Industreis Ltd - India
- Africa Commodities Group - South Africa
- European Bulk Services B.V. - Netherlands
- Bulk Trading Sa - Switzerland
- Kohat Cement Company Ltd. - Pakistan
- Karaikal Port Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
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