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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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Sunday, 26 April 09
INDONESIAN GOVT SAYS COAL MINES CAUSE WEEKLONG FLOOD - THE JAKARTA POST
Samarinda administration in East Kalimantan admitted openly Thursday that the weeklong flood that paralyzed the city was caused by unruly management ...
Saturday, 25 April 09
FOREIGN SHARE DIVESTMENT STARTING THE 6TH YEAR OF PRODUCTION - MAJALAH TAMBANG
The government would set a divestment scheme for foreign miners, which would require companies to divest their ownership starting the 6th year of pr ...
Saturday, 25 April 09
INDO TAMBANGRAYA MEGAH ALLOCATED USD 126 MILLION FOR CAPITAL SPENDING - MAJALAH TAMBANG
Somyot Ruchirawat, President Director of PT Indo Tambangraya Megah, Tbk (ITMG), has announced the company's total dividend payment of Rp 1,345 per ...
Saturday, 25 April 09
MINING SECTOR IS STILL ON THE SURPLUS - THE JAKARTA POST
The global financial crisis is apparently also having an impact on the mining sector. People are thinking twice about investing in the mining sector ...
Saturday, 25 April 09
ADARO RUNS CATARACT OPERATION PROGRAM - THE JAKARTA POST
As part of its CSR program, thermal coal producer PT Adaro Indonesia has made cataract operations available to residents of Tandjung district, South ...
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- Chettinad Cement Corporation Ltd - India
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- Meralco Power Generation, Philippines
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- Savvy Resources Ltd - HongKong
- Kapuas Tunggal Persada - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Siam City Cement PLC, Thailand
- Bukit Asam (Persero) Tbk - Indonesia
- Chamber of Mines of South Africa
- Australian Commodity Traders Exchange
- European Bulk Services B.V. - Netherlands
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- Bukit Baiduri Energy - Indonesia
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- Neyveli Lignite Corporation Ltd, - India
- Orica Mining Services - Indonesia
- Ministry of Mines - Canada
- Tata Chemicals Ltd - India
- Singapore Mercantile Exchange
- San Jose City I Power Corp, Philippines
- Simpson Spence & Young - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Ministry of Finance - Indonesia
- Kobexindo Tractors - Indoneisa
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- White Energy Company Limited
- International Coal Ventures Pvt Ltd - India
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- Deloitte Consulting - India
- The State Trading Corporation of India Ltd
- Planning Commission, India
- TNB Fuel Sdn Bhd - Malaysia
- Timah Investasi Mineral - Indoneisa
- Posco Energy - South Korea
- Sojitz Corporation - Japan
- Australian Coal Association
- Maharashtra Electricity Regulatory Commission - India
- Commonwealth Bank - Australia
- The University of Queensland
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- Wood Mackenzie - Singapore
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- Billiton Holdings Pty Ltd - Australia
- Bulk Trading Sa - Switzerland
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- Binh Thuan Hamico - Vietnam
- Heidelberg Cement - Germany
- Asmin Koalindo Tuhup - Indonesia
- GAC Shipping (India) Pvt Ltd
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- Xindia Steels Limited - India
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- Ceylon Electricity Board - Sri Lanka
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- Aditya Birla Group - India
- Therma Luzon, Inc, Philippines
- Vizag Seaport Private Limited - India
- Interocean Group of Companies - India
- Samtan Co., Ltd - South Korea
- Globalindo Alam Lestari - Indonesia
- Rio Tinto Coal - Australia
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- Star Paper Mills Limited - India
- Indo Tambangraya Megah - Indonesia
- Electricity Generating Authority of Thailand
- Kepco SPC Power Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- Sinarmas Energy and Mining - Indonesia
- Economic Council, Georgia
- Attock Cement Pakistan Limited
- Salva Resources Pvt Ltd - India
- Central Electricity Authority - India
- GN Power Mariveles Coal Plant, Philippines
- Standard Chartered Bank - UAE
- Latin American Coal - Colombia
- Energy Development Corp, Philippines
- Indonesian Coal Mining Association
- PowerSource Philippines DevCo
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- Banpu Public Company Limited - Thailand
- SN Aboitiz Power Inc, Philippines
- Romanian Commodities Exchange
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- Lanco Infratech Ltd - India
- SMC Global Power, Philippines
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- Vedanta Resources Plc - India
- ASAPP Information Group - India
- Port Waratah Coal Services - Australia
- Uttam Galva Steels Limited - India
- Sical Logistics Limited - India
- GVK Power & Infra Limited - India
- Directorate Of Revenue Intelligence - India
- Jaiprakash Power Ventures ltd
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- Oldendorff Carriers - Singapore
- Electricity Authority, New Zealand
- Marubeni Corporation - India
- Miang Besar Coal Terminal - Indonesia
- McConnell Dowell - Australia
- IHS Mccloskey Coal Group - USA
- Straits Asia Resources Limited - Singapore
- New Zealand Coal & Carbon
- IEA Clean Coal Centre - UK
- Global Coal Blending Company Limited - Australia
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- Orica Australia Pty. Ltd.
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- Eastern Coal Council - USA
- London Commodity Brokers - England
- Intertek Mineral Services - Indonesia
- The Treasury - Australian Government
- PetroVietnam Power Coal Import and Supply Company
- Goldman Sachs - Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
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- Bhoruka Overseas - Indonesia
- TeaM Sual Corporation - Philippines
- Wilmar Investment Holdings
- Metalloyd Limited - United Kingdom
- Toyota Tsusho Corporation, Japan
- Coal and Oil Company - UAE
- Tamil Nadu electricity Board
- Power Finance Corporation Ltd., India
- Edison Trading Spa - Italy
- Energy Link Ltd, New Zealand
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- Thai Mozambique Logistica
- Price Waterhouse Coopers - Russia
- India Bulls Power Limited - India
- Grasim Industreis Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Cigading International Bulk Terminal - Indonesia
- Indogreen Group - Indonesia
- Manunggal Multi Energi - Indonesia
- Indian Oil Corporation Limited
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- Kumho Petrochemical, South Korea
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- Dalmia Cement Bharat India
- Trasteel International SA, Italy
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- Minerals Council of Australia
- Coalindo Energy - Indonesia
- Gujarat Sidhee Cement - India
- Gujarat Mineral Development Corp Ltd - India
- Bukit Makmur.PT - Indonesia
- Ministry of Transport, Egypt
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- MS Steel International - UAE
- CIMB Investment Bank - Malaysia
- Parliament of New Zealand
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- Bharathi Cement Corporation - India
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- Rashtriya Ispat Nigam Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kideco Jaya Agung - Indonesia
- Sree Jayajothi Cements Limited - India
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- Videocon Industries ltd - India
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- Africa Commodities Group - South Africa
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