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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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Monday, 06 April 09
RICHARDS BAY COAL TERMINAL EXPORTS ROSE 5 PERCENT IN MARCH - BLOOMBERG
South Africa’s Richards Bay Coal Terminal, the world’s largest coal-export facility, shipped 5 percent more coal in March than the same ...
Monday, 06 April 09
INDIA'S OSWAL CHEM EYES INDONESIAN COAL MINES -ECONOMICTIMES
Oswal Chemicals and Fertilisers (OCFL), part of Abhay Oswal-led Oswal group, has initiated talks with three separate Indonesian coal firms to ...
Thursday, 02 April 09
FOREIGNERS ALSO CHEER FOR INDONESIA'S THE NEW MINING LAW - MAJALA TAMBANG
Three mining giants, Australia's Rio Tinto along with Canada's Barrick Gold and Southern Arc, are among foreign corporations currently applying fo ...
Wednesday, 01 April 09
INDONESIAN GOVERNMENT REVISES MINING REVENUE TARGET DOWN 26% - THE JAKARTA POST
Government income from mining this year, excluding taxes, is expected to drop by about 26 percent to Rp 11 trillion ($957 million), primarily becaus ...
Wednesday, 01 April 09
INDONESIAN OFFICIAL CLAIMS NEW LEGISLATION IS VINDICATED AS OVERSEAS FIRMS LINE UP FOR MINING LICENSES - THE JAKARTA GLOBE
The Energy and Mineral Resources Ministry is expected to issue six mining licenses under the country’s new mining law over the next two months ...
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- GVK Power & Infra Limited - India
- Savvy Resources Ltd - HongKong
- Makarim & Taira - Indonesia
- London Commodity Brokers - England
- San Jose City I Power Corp, Philippines
- Sarangani Energy Corporation, Philippines
- MS Steel International - UAE
- Merrill Lynch Commodities Europe
- Kartika Selabumi Mining - Indonesia
- Bhatia International Limited - India
- Goldman Sachs - Singapore
- Eastern Coal Council - USA
- Petrochimia International Co. Ltd.- Taiwan
- Trasteel International SA, Italy
- Maharashtra Electricity Regulatory Commission - India
- Pendopo Energi Batubara - Indonesia
- The University of Queensland
- Miang Besar Coal Terminal - Indonesia
- Toyota Tsusho Corporation, Japan
- Electricity Generating Authority of Thailand
- Kalimantan Lumbung Energi - Indonesia
- Energy Link Ltd, New Zealand
- Standard Chartered Bank - UAE
- SN Aboitiz Power Inc, Philippines
- Coalindo Energy - Indonesia
- Dalmia Cement Bharat India
- Bukit Makmur.PT - Indonesia
- Bukit Baiduri Energy - Indonesia
- Chettinad Cement Corporation Ltd - India
- Tamil Nadu electricity Board
- Ministry of Mines - Canada
- Petron Corporation, Philippines
- Indian Oil Corporation Limited
- Bharathi Cement Corporation - India
- Orica Mining Services - Indonesia
- Economic Council, Georgia
- Thiess Contractors Indonesia
- McConnell Dowell - Australia
- European Bulk Services B.V. - Netherlands
- Salva Resources Pvt Ltd - India
- Romanian Commodities Exchange
- Global Coal Blending Company Limited - Australia
- Altura Mining Limited, Indonesia
- Commonwealth Bank - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Central Java Power - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Samtan Co., Ltd - South Korea
- Alfred C Toepfer International GmbH - Germany
- Gujarat Electricity Regulatory Commission - India
- Videocon Industries ltd - India
- SMG Consultants - Indonesia
- Siam City Cement PLC, Thailand
- Aditya Birla Group - India
- Antam Resourcindo - Indonesia
- Mercator Lines Limited - India
- Billiton Holdings Pty Ltd - Australia
- Mjunction Services Limited - India
- Singapore Mercantile Exchange
- Simpson Spence & Young - Indonesia
- Ind-Barath Power Infra Limited - India
- Planning Commission, India
- Aboitiz Power Corporation - Philippines
- Medco Energi Mining Internasional
- Port Waratah Coal Services - Australia
- Semirara Mining Corp, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- ASAPP Information Group - India
- The State Trading Corporation of India Ltd
- Deloitte Consulting - India
- Gujarat Mineral Development Corp Ltd - India
- Chamber of Mines of South Africa
- VISA Power Limited - India
- SMC Global Power, Philippines
- South Luzon Thermal Energy Corporation
- Cigading International Bulk Terminal - Indonesia
- Meenaskhi Energy Private Limited - India
- New Zealand Coal & Carbon
- Eastern Energy - Thailand
- Asmin Koalindo Tuhup - Indonesia
- Star Paper Mills Limited - India
- Mercuria Energy - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Sojitz Corporation - Japan
- Independent Power Producers Association of India
- Coastal Gujarat Power Limited - India
- Maheswari Brothers Coal Limited - India
- Banpu Public Company Limited - Thailand
- Sical Logistics Limited - India
- Jorong Barutama Greston.PT - Indonesia
- CIMB Investment Bank - Malaysia
- Wilmar Investment Holdings
- Tata Chemicals Ltd - India
- Ministry of Transport, Egypt
- Oldendorff Carriers - Singapore
- Madhucon Powers Ltd - India
- India Bulls Power Limited - India
- Jindal Steel & Power Ltd - India
- Posco Energy - South Korea
- Borneo Indobara - Indonesia
- Agrawal Coal Company - India
- Sakthi Sugars Limited - India
- Marubeni Corporation - India
- PetroVietnam Power Coal Import and Supply Company
- Metalloyd Limited - United Kingdom
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kapuas Tunggal Persada - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sinarmas Energy and Mining - Indonesia
- Straits Asia Resources Limited - Singapore
- Bhushan Steel Limited - India
- Krishnapatnam Port Company Ltd. - India
- Central Electricity Authority - India
- Minerals Council of Australia
- PowerSource Philippines DevCo
- Sree Jayajothi Cements Limited - India
- Wood Mackenzie - Singapore
- CNBM International Corporation - China
- LBH Netherlands Bv - Netherlands
- Siam City Cement - Thailand
- Jaiprakash Power Ventures ltd
- Australian Coal Association
- Kohat Cement Company Ltd. - Pakistan
- Rio Tinto Coal - Australia
- Kideco Jaya Agung - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- IEA Clean Coal Centre - UK
- GAC Shipping (India) Pvt Ltd
- Globalindo Alam Lestari - Indonesia
- PTC India Limited - India
- Therma Luzon, Inc, Philippines
- Orica Australia Pty. Ltd.
- Electricity Authority, New Zealand
- Indonesian Coal Mining Association
- Manunggal Multi Energi - Indonesia
- Bulk Trading Sa - Switzerland
- ICICI Bank Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Essar Steel Hazira Ltd - India
- Cement Manufacturers Association - India
- International Coal Ventures Pvt Ltd - India
- Karaikal Port Pvt Ltd - India
- Xindia Steels Limited - India
- Kepco SPC Power Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Global Business Power Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- Edison Trading Spa - Italy
- Bangladesh Power Developement Board
- Parliament of New Zealand
- Lanco Infratech Ltd - India
- Interocean Group of Companies - India
- Holcim Trading Pte Ltd - Singapore
- Bhoruka Overseas - Indonesia
- Energy Development Corp, Philippines
- Mintek Dendrill Indonesia
- Kobexindo Tractors - Indoneisa
- Global Green Power PLC Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- Renaissance Capital - South Africa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indian Energy Exchange, India
- Pipit Mutiara Jaya. PT, Indonesia
- Riau Bara Harum - Indonesia
- Carbofer General Trading SA - India
- Indika Energy - Indonesia
- Bayan Resources Tbk. - Indonesia
- Iligan Light & Power Inc, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indogreen Group - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Karbindo Abesyapradhi - Indoneisa
- TeaM Sual Corporation - Philippines
- Timah Investasi Mineral - Indoneisa
- Georgia Ports Authority, United States
- Intertek Mineral Services - Indonesia
- Coal and Oil Company - UAE
- AsiaOL BioFuels Corp., Philippines
- The Treasury - Australian Government
- Ambuja Cements Ltd - India
- Uttam Galva Steels Limited - India
- Africa Commodities Group - South Africa
- Heidelberg Cement - Germany
- Directorate General of MIneral and Coal - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- PNOC Exploration Corporation - Philippines
- Binh Thuan Hamico - Vietnam
- Grasim Industreis Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Baramulti Group, Indonesia
- Formosa Plastics Group - Taiwan
- Vizag Seaport Private Limited - India
- Price Waterhouse Coopers - Russia
- Ministry of Finance - Indonesia
- GMR Energy Limited - India
- Meralco Power Generation, Philippines
- Kumho Petrochemical, South Korea
- Directorate Of Revenue Intelligence - India
- Australian Commodity Traders Exchange
- Larsen & Toubro Limited - India
- Leighton Contractors Pty Ltd - Australia
- Anglo American - United Kingdom
- Kaltim Prima Coal - Indonesia
- Power Finance Corporation Ltd., India
- Semirara Mining and Power Corporation, Philippines
- Gujarat Sidhee Cement - India
- Malabar Cements Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Vedanta Resources Plc - India
- OPG Power Generation Pvt Ltd - India
- White Energy Company Limited
- Barasentosa Lestari - Indonesia
- Parry Sugars Refinery, India
- Thai Mozambique Logistica
- Latin American Coal - Colombia
- Attock Cement Pakistan Limited
- IHS Mccloskey Coal Group - USA
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