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Monday, 22 November 10
RUSSIA'S KTK HAS PRODUCED 4.59 MLN TONNES OF COAL IN FIRST 9 MONTHS OR AN INCREASE OF 5% YEAR-ON-YEAR
 COALspot.com (Press Release) - KTK has produced 4.59 mln tonnes of coal in first nine months or an increase of 5% year-on-year.
Kuzbasskaya Toplivnaya Company, one of the fastest-growing thermal coal producers in Russia, has announced the unaudited IFRS financial results for the 3rd Quarter and 9 months ended 30 September 2010.
According to the unaudited IFRS financial results, Kuzbasskaya Toplivnaya's revenue for Q3 2010 increased by 44% to RUR 3,925 mln. quarter-on-quarter. Revenue for 9M 2010 gained 29% year-on-year up to 9,576 mln, it said in statement posted in its website.
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In Q3 2010 the volume of coal production also increased significantly by 52% quarter-on-quarter to 1.87 mln. tonnes. During the first 9 months of 2010 the KTK has produced 4.59 mln tonnes or an increase of 5% year-on-year.
“We are satisfied with the Company’s results in Q3 and 9M 2010. We have succeeded in making the next important step towards the implementation of the KTK strategy focused on further increases in coal extraction, the upgrade of product quality and raising the effectiveness of our business", said CEO of the company Igor Prokudin.
He further commented, "In August, on the eve of 10th anniversary of the Company, we launched our first enrichment plant “Kaskad”, which will help to reduce the production waste and contribute to expanding our export markets. We believe that it will reach its design capacity by the end of this year.
Thanks to investments in production expansion in H1 2010, KTK reached the highest coal extraction and processing volumes in its history.
According to the management expectations, the development of 2 new sectors on “Cheremshanskiy” and “Vinogradovskiy” open-pit mines, which started in Q2 2010, as well as expanded modern machinery and equipment fleet, will help the Company to continue the growth of its production volumes in Q4 and reach the yearly production target – 6.8 mln. tonnes. In addition to this, the production growth should lead to reduction of production cash costs per 1 tonne of coal compared to Q3 2010.
We are optimistic about the Company’s Q4 2010 performance and believe that high volumes of production together with further increase in the average coal sale price will help us to achieve even stronger production and financial results than in Q3 2010", commented by CEO of the company Igor Prokudin".
Source: KTK Web site
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Thursday, 25 November 10
INDONESIAN ROUNDS ARE ACHIEVING IN THE LOW 10S, OWNERS ARE NOT KEEN FOR TRIPS TO INDIA - FEARNBULK
HANDY
Uneventful week - Supra/Panamax stems ex USG to China/Korea/Japan are the main focus + grains ex. Argentina. The Atlantic market activity re ...
Thursday, 25 November 10
JSW ENERGY BUYS CANADIAN COAL FIRM FOR $411 MN - NDTV PROFIT
NDTV Profit reported that, Sajjan Jindal-owned JSW Energy on Wednesday said it has entered into an agreement to buy out British Virgin Islands-based ...
Thursday, 25 November 10
DRY BULK MARKET STILL GOING STRONG THIS WEEK, CAPESIZE SECTOR LOSING STEAM - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market kept its upward momentum yesterday, with the industry’s benchmark, the Baltic Dry Index (BDI) gaining a further 0.64% to e ...
Wednesday, 24 November 10
COAL PRODUCTION PREDICTED TO CLIMB IN SUNNIER 2011 - THE JAKARTA GLOBE
The Jakarta Globe reported that, Indonesia’s coal producers are expected to increase output by 13 percent in 2011, thanks to predicted better ...
Sunday, 21 November 10
THE FREIGHT MARKET MAY SLIGHTLY FIRM UP NEXT WEEK - CAPT. REDDY
COALspot.com: The freight market continued its down fall with BDI down by 6.83 pct and closed at 2,155 points.
According to Vistaar Shipping of S ...
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- Truba Alam Manunggal Engineering.Tbk - Indonesia
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- Attock Cement Pakistan Limited
- Economic Council, Georgia
- The University of Queensland
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- Wood Mackenzie - Singapore
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- Central Electricity Authority - India
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- Energy Link Ltd, New Zealand
- Ministry of Finance - Indonesia
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- Rio Tinto Coal - Australia
- Alfred C Toepfer International GmbH - Germany
- Minerals Council of Australia
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- Petron Corporation, Philippines
- Energy Development Corp, Philippines
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- TNB Fuel Sdn Bhd - Malaysia
- Siam City Cement - Thailand
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- Trasteel International SA, Italy
- Sarangani Energy Corporation, Philippines
- MS Steel International - UAE
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- Sinarmas Energy and Mining - Indonesia
- Kumho Petrochemical, South Korea
- Kobexindo Tractors - Indoneisa
- Kaltim Prima Coal - Indonesia
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- Directorate Of Revenue Intelligence - India
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- Indian Energy Exchange, India
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- Price Waterhouse Coopers - Russia
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- Savvy Resources Ltd - HongKong
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- Orica Mining Services - Indonesia
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- Metalloyd Limited - United Kingdom
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- Standard Chartered Bank - UAE
- London Commodity Brokers - England
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