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Friday, 06 May 11
BUKIT ASAM TO CLOSE COAL TAKEOVER IN Q2 - INSIDER STORIES


The state-controlled PT Tambang Bukit Asam Tbk (PTBA) expects to complete acquisition of two coal mining companies from four companies which is now reviewed, as quoted by Insider Stories.

The acquisition, said Bukit Asam CEO Sukrisno, is expected to complete in the second or third quarter of this year. These two coal mines are expected to start production by 2012 with capacity of 1 million tons-2.5 million tons.

Besides the acquisition, Bukit Asam and its consortia has passed the qualification for tender of four power plants.

Bukit Asam has tied up Chinese Hua Tian for the power plant project with capacity of 2x600 MW in South Sulawesi, 2x300 MW in South Sumatra in partnership with subsidiary of PT United Tractors Tbk.

Bukit Asam will bankroll the project with internally generated cash flow which reached Rp 5 trillion (approximately US$ 583.771 million).

The company expects to reach net profit of above Rp 3 trillion (approximately US$ 350.262 million) in 2011 from Rp 2 trillion (approxiamtely US$ 233.508 million) last year because of higher sales volume and prices.

Sales volume is expected to increase 31% to 16.9 million tons of coal in 2011 from 12 million tons last year. The revenue is estimated to rise 46.34% to Rp12 trillion (approximately US$ 1.401 billion) from Rp 8.2 trillion (approxiamtely US$ 957.384 million).

"We estimate our 2011's average selling prices of US$ 80 per ton from $ 61.5 ton," He said.

The company provides capital expenditure of Rp1.8 trillion (approximately US$ 210.157) to support this target will finance from generated internally cash.



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Recent News

Tuesday, 10 May 11
DRY BULK MARKET KEEPS ON RISING, OUTLOOK MIXED - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market inched forward once again on Monday, with the Baltic Dry Index rising by 0.6% to 1,348, although the Capesize market was 0.57% l ...


Monday, 09 May 11
THAILAND COAL IMPORTS SURGE IN Q1 - ICAP SHIPPING
Thailand's coal imports leapt 20% in Q1 and the country looks set to import its largest ever volume in 2011 as quoted by ICAP Shipping web site. ...


Monday, 09 May 11
KOSPO SEEKING 65KT STEAMING COAL
COALspot.com - Korea Southern Power Co (KOSPO) issues tender for 65000 Mt of Steaming Coal Supply with a minimum CV of 4,500 kcal/kg on NAR basis. D ...


Monday, 09 May 11
INDONESIA HBA FALL BELOW $118
COALspot.com - Ministry of Energy and Mineral Resources of Indonesia has set the May 2011 Indonesian Coal Reference Price for thermal coal at US$ 11 ...


Monday, 09 May 11
DIAN SWASTATIKA Q1 PROFIT SOARS 511 PERCENT - INSIDER STORIES
PT Dian Swastatika Sentosa Tbk (DSSA), parent of coal miner PT Golden Energy Mines, reported a 511.73% jump in net profit for the first quarter of t ...


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