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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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Saturday, 25 April 09
KPC DEVELOPS EAST KALIMANTAN WITH GOVT - THE JAKARTA POST
Kaltim Prima Coal (KPC) focuses on several areas in its CSR projects to help the government increase the welfare of the community living around the ...
Friday, 24 April 09
NAPOCOR TO TENDER FOR 195,000 T COAL - ABS-CBNNEWS.COM
Top Philippine electricity producer National Power Corp. (Napocor) said on Friday it will hold a tender on May 20 to buy 195,000 tons of steam coal ...
Friday, 24 April 09
NTPC TO DELVE INTO CONTRACT MINING - ECONOMICTIMES
NTPC, India’s largest power producer, plans to cash in on its decades-old experience in handling coal mines by spinning off a separate u ...
Wednesday, 22 April 09
PROTECTED FORESTS FACING UNDERGROUND MINING THREAT - THE JAKARTA POST
The government is soon to issue a presidential regulation allowing mining companies to mine underground in protected forest areas, despite a recent ...
Tuesday, 21 April 09
MITRA RAJASA TO ACQUIRE TWO MINING COMPANIES - THE JAKARTA POST
PT Mitra Rajasa Tbk plans to acquire PT Realita Jaya Mandiri and PT Masindo Artha Resources in South Sumatra, which are worth around US$40 million.
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- Sarangani Energy Corporation, Philippines
- Larsen & Toubro Limited - India
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- SMC Global Power, Philippines
- Bulk Trading Sa - Switzerland
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- New Zealand Coal & Carbon
- Toyota Tsusho Corporation, Japan
- Global Coal Blending Company Limited - Australia
- The University of Queensland
- Eastern Coal Council - USA
- Sindya Power Generating Company Private Ltd
- Mercuria Energy - Indonesia
- The Treasury - Australian Government
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- Carbofer General Trading SA - India
- Power Finance Corporation Ltd., India
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- SMG Consultants - Indonesia
- Samtan Co., Ltd - South Korea
- Videocon Industries ltd - India
- Siam City Cement PLC, Thailand
- Kapuas Tunggal Persada - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Indian Oil Corporation Limited
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- Australian Coal Association
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- Indogreen Group - Indonesia
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- Kumho Petrochemical, South Korea
- White Energy Company Limited
- Ambuja Cements Ltd - India
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- London Commodity Brokers - England
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- Coal and Oil Company - UAE
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- GAC Shipping (India) Pvt Ltd
- Africa Commodities Group - South Africa
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- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Rio Tinto Coal - Australia
- Global Green Power PLC Corporation, Philippines
- Eastern Energy - Thailand
- PTC India Limited - India
- Indonesian Coal Mining Association
- VISA Power Limited - India
- Bhatia International Limited - India
- Aditya Birla Group - India
- Indika Energy - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Price Waterhouse Coopers - Russia
- Alfred C Toepfer International GmbH - Germany
- Bharathi Cement Corporation - India
- Jindal Steel & Power Ltd - India
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- Mjunction Services Limited - India
- Indian Energy Exchange, India
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- Antam Resourcindo - Indonesia
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- Agrawal Coal Company - India
- Sakthi Sugars Limited - India
- Sical Logistics Limited - India
- Mintek Dendrill Indonesia
- Tamil Nadu electricity Board
- TNB Fuel Sdn Bhd - Malaysia
- Simpson Spence & Young - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- McConnell Dowell - Australia
- Timah Investasi Mineral - Indoneisa
- Uttam Galva Steels Limited - India
- Oldendorff Carriers - Singapore
- Vijayanagar Sugar Pvt Ltd - India
- Altura Mining Limited, Indonesia
- CNBM International Corporation - China
- Interocean Group of Companies - India
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- Ministry of Finance - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- SN Aboitiz Power Inc, Philippines
- Makarim & Taira - Indonesia
- Central Electricity Authority - India
- Parliament of New Zealand
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- Holcim Trading Pte Ltd - Singapore
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- Bukit Makmur.PT - Indonesia
- Independent Power Producers Association of India
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- Kalimantan Lumbung Energi - Indonesia
- Manunggal Multi Energi - Indonesia
- Edison Trading Spa - Italy
- India Bulls Power Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Meralco Power Generation, Philippines
- Orica Mining Services - Indonesia
- OPG Power Generation Pvt Ltd - India
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- Bank of Tokyo Mitsubishi UFJ Ltd
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- LBH Netherlands Bv - Netherlands
- Standard Chartered Bank - UAE
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- MS Steel International - UAE
- Ministry of Mines - Canada
- Energy Development Corp, Philippines
- Orica Australia Pty. Ltd.
- San Jose City I Power Corp, Philippines
- Miang Besar Coal Terminal - Indonesia
- Economic Council, Georgia
- Karbindo Abesyapradhi - Indoneisa
- Neyveli Lignite Corporation Ltd, - India
- Straits Asia Resources Limited - Singapore
- Bukit Baiduri Energy - Indonesia
- Romanian Commodities Exchange
- Bhoruka Overseas - Indonesia
- GVK Power & Infra Limited - India
- Kideco Jaya Agung - Indonesia
- The State Trading Corporation of India Ltd
- Vedanta Resources Plc - India
- Attock Cement Pakistan Limited
- Singapore Mercantile Exchange
- Energy Link Ltd, New Zealand
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- Madhucon Powers Ltd - India
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- Baramulti Group, Indonesia
- Therma Luzon, Inc, Philippines
- Gujarat Sidhee Cement - India
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- Planning Commission, India
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- Kaltim Prima Coal - Indonesia
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- Coalindo Energy - Indonesia
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- Latin American Coal - Colombia
- Tata Chemicals Ltd - India
- Ministry of Transport, Egypt
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- Billiton Holdings Pty Ltd - Australia
- Kartika Selabumi Mining - Indonesia
- Borneo Indobara - Indonesia
- Commonwealth Bank - Australia
- Metalloyd Limited - United Kingdom
- Posco Energy - South Korea
- Cigading International Bulk Terminal - Indonesia
- IEA Clean Coal Centre - UK
- IHS Mccloskey Coal Group - USA
- Heidelberg Cement - Germany
- Directorate Of Revenue Intelligence - India
- GN Power Mariveles Coal Plant, Philippines
- PNOC Exploration Corporation - Philippines
- Mercator Lines Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Malabar Cements Ltd - India
- Globalindo Alam Lestari - Indonesia
- Bayan Resources Tbk. - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Australian Commodity Traders Exchange
- Salva Resources Pvt Ltd - India
- Cement Manufacturers Association - India
- Electricity Generating Authority of Thailand
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- Chettinad Cement Corporation Ltd - India
- Minerals Council of Australia
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- Sojitz Corporation - Japan
- Pipit Mutiara Jaya. PT, Indonesia
- European Bulk Services B.V. - Netherlands
- Parry Sugars Refinery, India
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