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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, 08 March 09
AUSTRALIA'S FELIX STUDYING COAL ACQUISITIONS IN INDIA, INDONESIA
Bloomberg reported that, Felix Resources Ltd., an Australian supplier of coal to Korea and Japan, is studying acquisitions of energy coal assets in ...
Saturday, 07 March 09
THERMAL COAL PRICES MAY DROP, STANDARD CHARTERED SAYS
Bloomberg reported that, Coal prices may decline as a slump in demand for the fuel outpaces cuts in production, Standard Chartered Plc said.
Exp ...
Friday, 06 March 09
STRAITS ASIA EYES 3RD MINE
Straitstimes reported that, Mining company Straits Asia Resources is on an expansion trail to more than double its output by 2012.
Amid the econo ...
Friday, 06 March 09
INDONESIA MAY MISS 2009 COAL OUTPUT TARGET-OFFICIAL
Indonesia, the world's top thermal coal exporter, may fail to achieve its coal production target this year as the global economic crisis dents dema ...
Friday, 06 March 09
POWER FIRMS HEAD TO INDONESIA FOR COAL
The Hindu Businessline reported that, The enactment of a new, more liberal, mining legislation in Indonesia is drawing coal-starved Indian power uti ...
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- ICICI Bank Limited - India
- Semirara Mining Corp, Philippines
- Standard Chartered Bank - UAE
- Baramulti Group, Indonesia
- The State Trading Corporation of India Ltd
- Orica Australia Pty. Ltd.
- Grasim Industreis Ltd - India
- Global Business Power Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Orica Mining Services - Indonesia
- Energy Development Corp, Philippines
- South Luzon Thermal Energy Corporation
- Globalindo Alam Lestari - Indonesia
- Pendopo Energi Batubara - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Bulk Trading Sa - Switzerland
- SMC Global Power, Philippines
- Sinarmas Energy and Mining - Indonesia
- Bukit Makmur.PT - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Price Waterhouse Coopers - Russia
- Timah Investasi Mineral - Indoneisa
- TeaM Sual Corporation - Philippines
- Kartika Selabumi Mining - Indonesia
- Bharathi Cement Corporation - India
- Aditya Birla Group - India
- Videocon Industries ltd - India
- Binh Thuan Hamico - Vietnam
- IEA Clean Coal Centre - UK
- Antam Resourcindo - Indonesia
- Intertek Mineral Services - Indonesia
- Economic Council, Georgia
- Goldman Sachs - Singapore
- Simpson Spence & Young - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- MS Steel International - UAE
- London Commodity Brokers - England
- Africa Commodities Group - South Africa
- Maheswari Brothers Coal Limited - India
- Indian Energy Exchange, India
- SN Aboitiz Power Inc, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Siam City Cement PLC, Thailand
- Energy Link Ltd, New Zealand
- Deloitte Consulting - India
- Tamil Nadu electricity Board
- PowerSource Philippines DevCo
- Ministry of Transport, Egypt
- European Bulk Services B.V. - Netherlands
- Renaissance Capital - South Africa
- Formosa Plastics Group - Taiwan
- Vizag Seaport Private Limited - India
- Siam City Cement - Thailand
- GAC Shipping (India) Pvt Ltd
- Georgia Ports Authority, United States
- Indian Oil Corporation Limited
- Power Finance Corporation Ltd., India
- Bayan Resources Tbk. - Indonesia
- Bukit Baiduri Energy - Indonesia
- Sindya Power Generating Company Private Ltd
- McConnell Dowell - Australia
- Vedanta Resources Plc - India
- Gujarat Electricity Regulatory Commission - India
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- Wood Mackenzie - Singapore
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- Bangladesh Power Developement Board
- Lanco Infratech Ltd - India
- Metalloyd Limited - United Kingdom
- Xindia Steels Limited - India
- AsiaOL BioFuels Corp., Philippines
- Minerals Council of Australia
- Leighton Contractors Pty Ltd - Australia
- San Jose City I Power Corp, Philippines
- ASAPP Information Group - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sarangani Energy Corporation, Philippines
- Barasentosa Lestari - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Eastern Energy - Thailand
- Sical Logistics Limited - India
- Interocean Group of Companies - India
- Star Paper Mills Limited - India
- Indogreen Group - Indonesia
- Madhucon Powers Ltd - India
- Medco Energi Mining Internasional
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Rio Tinto Coal - Australia
- Indonesian Coal Mining Association
- Directorate Of Revenue Intelligence - India
- GVK Power & Infra Limited - India
- GMR Energy Limited - India
- Essar Steel Hazira Ltd - India
- Planning Commission, India
- Meenaskhi Energy Private Limited - India
- Jaiprakash Power Ventures ltd
- Agrawal Coal Company - India
- Electricity Authority, New Zealand
- Petron Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- PetroVietnam Power Coal Import and Supply Company
- New Zealand Coal & Carbon
- Therma Luzon, Inc, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Banpu Public Company Limited - Thailand
- Kepco SPC Power Corporation, Philippines
- Trasteel International SA, Italy
- IHS Mccloskey Coal Group - USA
- Chamber of Mines of South Africa
- Ministry of Finance - Indonesia
- Cement Manufacturers Association - India
- Aboitiz Power Corporation - Philippines
- Toyota Tsusho Corporation, Japan
- Commonwealth Bank - Australia
- Kobexindo Tractors - Indoneisa
- Sojitz Corporation - Japan
- Borneo Indobara - Indonesia
- CNBM International Corporation - China
- Samtan Co., Ltd - South Korea
- Australian Commodity Traders Exchange
- Independent Power Producers Association of India
- Maharashtra Electricity Regulatory Commission - India
- Carbofer General Trading SA - India
- Tata Chemicals Ltd - India
- Malabar Cements Ltd - India
- Electricity Generating Authority of Thailand
- Indo Tambangraya Megah - Indonesia
- SMG Consultants - Indonesia
- Parliament of New Zealand
- Karaikal Port Pvt Ltd - India
- Parry Sugars Refinery, India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Makarim & Taira - Indonesia
- Mercator Lines Limited - India
- Ministry of Mines - Canada
- CIMB Investment Bank - Malaysia
- Ceylon Electricity Board - Sri Lanka
- Pipit Mutiara Jaya. PT, Indonesia
- The Treasury - Australian Government
- Bhoruka Overseas - Indonesia
- Anglo American - United Kingdom
- Edison Trading Spa - Italy
- Jorong Barutama Greston.PT - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Central Electricity Authority - India
- Australian Coal Association
- PNOC Exploration Corporation - Philippines
- Alfred C Toepfer International GmbH - Germany
- India Bulls Power Limited - India
- Sakthi Sugars Limited - India
- Eastern Coal Council - USA
- Merrill Lynch Commodities Europe
- VISA Power Limited - India
- Global Green Power PLC Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- Ambuja Cements Ltd - India
- Gujarat Sidhee Cement - India
- Savvy Resources Ltd - HongKong
- Jindal Steel & Power Ltd - India
- White Energy Company Limited
- Mintek Dendrill Indonesia
- Iligan Light & Power Inc, Philippines
- Uttam Galva Steels Limited - India
- Mjunction Services Limited - India
- Central Java Power - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Gujarat Mineral Development Corp Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Meralco Power Generation, Philippines
- OPG Power Generation Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- Kaltim Prima Coal - Indonesia
- Riau Bara Harum - Indonesia
- Wilmar Investment Holdings
- Salva Resources Pvt Ltd - India
- Singapore Mercantile Exchange
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kideco Jaya Agung - Indonesia
- Straits Asia Resources Limited - Singapore
- Romanian Commodities Exchange
- Coalindo Energy - Indonesia
- Thiess Contractors Indonesia
- LBH Netherlands Bv - Netherlands
- Port Waratah Coal Services - Australia
- Semirara Mining and Power Corporation, Philippines
- Posco Energy - South Korea
- Coastal Gujarat Power Limited - India
- Ind-Barath Power Infra Limited - India
- Dalmia Cement Bharat India
- Thai Mozambique Logistica
- Heidelberg Cement - Germany
- The University of Queensland
- Marubeni Corporation - India
- Indika Energy - Indonesia
- International Coal Ventures Pvt Ltd - India
- Mercuria Energy - Indonesia
- Chettinad Cement Corporation Ltd - India
- Sree Jayajothi Cements Limited - India
- Kumho Petrochemical, South Korea
- Asmin Koalindo Tuhup - Indonesia
- PTC India Limited - India
- Larsen & Toubro Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Altura Mining Limited, Indonesia
- Krishnapatnam Port Company Ltd. - India
- Latin American Coal - Colombia
- Coal and Oil Company - UAE
- Petrochimia International Co. Ltd.- Taiwan
- Oldendorff Carriers - Singapore
- Karbindo Abesyapradhi - Indoneisa
- Bhatia International Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Kapuas Tunggal Persada - Indonesia
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