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Thursday, 04 June 09
ADARO SECURES THREE NEW CONTRACTS, SAYS OUTLOOK POSITIVE - THE JAKARTA POST
 Publicly listed PT Adaro Energy, the country's second largest coal miner, announced Wednesday it had secured three new coal contracts from buyers from India, Thailand and Indonesia.
Adaro has committed itself to delivering up to 2 million tons of coal per year for each buyer, with first delivery due by next December, marketing director Alastair Grant said after the annual shareholders' meeting.
The contracts would last for a total of 15 years, but are subject to review every five years, Grant said.
When asked about the price, Grant refused to give the figures, saying that there was a confidentiality agreement in the contracts.
"We always sell at market price because if we do not, there's either an unhappy buyer who therefore won't take our coal, or an unhappy seller, ourselves, who will try to change it," Grant said.
Grant also refused to reveal the buyers' identity due to the confidentiality agreement. He only said that the buyer companies are the operators of new power plants that would start operation next year.
Grant said the contracts justified the company's prediction that demand from the Asian market would remain strong this year with the operation of new power plants in China, India and Indonesia.
To meet demand, the company will remain on track in raising production to between 42 and 45 million tons of coal this year with 70 percent of the production to be exported, president director Garibaldi Thohir said.
Last year, the company produced 38.5 million ton of coal and exported it mostly to Asian nations like India, Hong Kong, Japan, and to several EU countries, and to the US.
For the selling price, Adaro has targeted an average selling price of between US$52 and $65 a ton this year, higher than $39.5 a ton last year.
Adaro's net profit soared 902 percent to Rp 887 billion (US$87.81 million) last year up from Rp 89 billion in 2007 due to higher selling prices and increased sales volume. Meanwhile its net revenue jumped 82 percent to Rp 4.2 trillion in 2008.
Adaro has forecast double-digit growth in terms of revenue for this year, as evident from its strong showing in the first three-month period when it booked a net profit of Rp 1.15 trillion, a huge rise from the Rp 12 billion in losses a year earlier.
The company managed to sustain growth in the first quarter despite only posting a slight increase in production of between 8 and 9 percent.
Adaro operational director Chia Ah Hoo explained they would make up for the slight rise in first quarter production in the next quarters when there would be less rainfall.
During the shareholders meeting, the company approved the allocation of 42.5 percent of the 2008 net profits, or about, Rp 377.43 billion (US$37.36 million) as dividends, equivalent to Rp 11.8 a share.
Meanwhile, Bloomberg reported also Wednesday that investors in Adaro raised Rp 1.54 trillion selling shares at a 10 percent discount to yesterday's price, citing a sale document.
About 1.25 billion shares exchanged hands on the negotiated market, where investors and exchange members negotiated the price and reported it to the exchange, at Rp 1,230 per share.
Goldman Sachs Group Inc. helped sell the shares for investors including the Government of Singapore Investment Corp. and Goldman Sachs SSG, the document said.
Source: http://www.thejakartapost.com/news/2009/06/04/adaro-secures-three-new-contracts-says-outlook-positive.html
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Wednesday, 01 July 09
COAL INDIA SEEKS FASTER APPROVALS, IMPORTS, OVERSEAS MINERS
Coal India Ltd., the world’s biggest coal producer, wants mining approvals sped up to help it boost production to meet a widening supply short ...
Tuesday, 30 June 09
ARCELORMITTAL, RIO, 8 OTHERS VIE FOR COAL INDIA MINES
Coal India Ltd. short-listed ArcelorMittal, Rio Tinto Group and eight other companies to develop its abandoned mines to help ease a shortage of coal ...
Monday, 29 June 09
INDONESIA PLANS 20 PCT FOREIGN MINING SALE LAW
Indonesia plans to require foreign investors in mining firms to gradually divest shares starting from the fifth year of commercial production, but m ...
Monday, 29 June 09
CHINA ENJOYS STABLE COAL ECONOMY IN THE FIRST FIVE MONTHS OF 2009
In the first five months of the year, China's raw coal production had continued to rise, and coal market stayed in a balance in terms of supply-dem ...
Monday, 29 June 09
GOVERNMENT FINE TUNES MINING LAW
The government is planning to require all foreign-owned mining companies to divest 20 percent of their businesses to local entities after five years ...
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- Bank of Tokyo Mitsubishi UFJ Ltd
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- Baramulti Group, Indonesia
- Planning Commission, India
- Ministry of Transport, Egypt
- Central Electricity Authority - India
- Thai Mozambique Logistica
- Meenaskhi Energy Private Limited - India
- Minerals Council of Australia
- Price Waterhouse Coopers - Russia
- Ministry of Finance - Indonesia
- Electricity Authority, New Zealand
- Madhucon Powers Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Africa Commodities Group - South Africa
- Semirara Mining Corp, Philippines
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- Edison Trading Spa - Italy
- Mercuria Energy - Indonesia
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- Heidelberg Cement - Germany
- PowerSource Philippines DevCo
- Gujarat Mineral Development Corp Ltd - India
- Economic Council, Georgia
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- Sindya Power Generating Company Private Ltd
- Vizag Seaport Private Limited - India
- The Treasury - Australian Government
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- Sarangani Energy Corporation, Philippines
- Oldendorff Carriers - Singapore
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- Goldman Sachs - Singapore
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- Agrawal Coal Company - India
- Rio Tinto Coal - Australia
- LBH Netherlands Bv - Netherlands
- McConnell Dowell - Australia
- Parry Sugars Refinery, India
- Directorate General of MIneral and Coal - Indonesia
- CNBM International Corporation - China
- Wood Mackenzie - Singapore
- Rashtriya Ispat Nigam Limited - India
- Bangladesh Power Developement Board
- Energy Link Ltd, New Zealand
- Chamber of Mines of South Africa
- Star Paper Mills Limited - India
- Parliament of New Zealand
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- Essar Steel Hazira Ltd - India
- Directorate Of Revenue Intelligence - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- International Coal Ventures Pvt Ltd - India
- Standard Chartered Bank - UAE
- Bahari Cakrawala Sebuku - Indonesia
- Globalindo Alam Lestari - Indonesia
- Commonwealth Bank - Australia
- Chettinad Cement Corporation Ltd - India
- Leighton Contractors Pty Ltd - Australia
- New Zealand Coal & Carbon
- Aditya Birla Group - India
- ASAPP Information Group - India
- Sakthi Sugars Limited - India
- Gujarat Electricity Regulatory Commission - India
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- South Luzon Thermal Energy Corporation
- Anglo American - United Kingdom
- Kohat Cement Company Ltd. - Pakistan
- Kumho Petrochemical, South Korea
- Global Green Power PLC Corporation, Philippines
- Power Finance Corporation Ltd., India
- Indian Energy Exchange, India
- Borneo Indobara - Indonesia
- Bulk Trading Sa - Switzerland
- Coal and Oil Company - UAE
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- Xindia Steels Limited - India
- Sree Jayajothi Cements Limited - India
- Cement Manufacturers Association - India
- Samtan Co., Ltd - South Korea
- Semirara Mining and Power Corporation, Philippines
- Antam Resourcindo - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Alfred C Toepfer International GmbH - Germany
- Bhushan Steel Limited - India
- PTC India Limited - India
- Trasteel International SA, Italy
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Australian Commodity Traders Exchange
- Asmin Koalindo Tuhup - Indonesia
- Eastern Coal Council - USA
- IEA Clean Coal Centre - UK
- Global Business Power Corporation, Philippines
- ICICI Bank Limited - India
- SN Aboitiz Power Inc, Philippines
- Central Java Power - Indonesia
- SMG Consultants - Indonesia
- Thiess Contractors Indonesia
- Indonesian Coal Mining Association
- Kartika Selabumi Mining - Indonesia
- GMR Energy Limited - India
- Port Waratah Coal Services - Australia
- Renaissance Capital - South Africa
- Straits Asia Resources Limited - Singapore
- Ceylon Electricity Board - Sri Lanka
- Makarim & Taira - Indonesia
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- Riau Bara Harum - Indonesia
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- Carbofer General Trading SA - India
- Indika Energy - Indonesia
- Australian Coal Association
- Billiton Holdings Pty Ltd - Australia
- Indogreen Group - Indonesia
- Simpson Spence & Young - Indonesia
- Vedanta Resources Plc - India
- Therma Luzon, Inc, Philippines
- Ministry of Mines - Canada
- European Bulk Services B.V. - Netherlands
- VISA Power Limited - India
- Malabar Cements Ltd - India
- Meralco Power Generation, Philippines
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- Bukit Makmur.PT - Indonesia
- Larsen & Toubro Limited - India
- Intertek Mineral Services - Indonesia
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- Petron Corporation, Philippines
- Indian Oil Corporation Limited
- Tamil Nadu electricity Board
- Eastern Energy - Thailand
- Coalindo Energy - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Maheswari Brothers Coal Limited - India
- Mintek Dendrill Indonesia
- Bayan Resources Tbk. - Indonesia
- Kaltim Prima Coal - Indonesia
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- Metalloyd Limited - United Kingdom
- MS Steel International - UAE
- Sojitz Corporation - Japan
- Pendopo Energi Batubara - Indonesia
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- Medco Energi Mining Internasional
- Bhoruka Overseas - Indonesia
- Siam City Cement PLC, Thailand
- Uttam Galva Steels Limited - India
- Posco Energy - South Korea
- Mjunction Services Limited - India
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- Barasentosa Lestari - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Iligan Light & Power Inc, Philippines
- GAC Shipping (India) Pvt Ltd
- Toyota Tsusho Corporation, Japan
- The State Trading Corporation of India Ltd
- Energy Development Corp, Philippines
- Deloitte Consulting - India
- Sical Logistics Limited - India
- Holcim Trading Pte Ltd - Singapore
- Altura Mining Limited, Indonesia
- Karaikal Port Pvt Ltd - India
- The University of Queensland
- Binh Thuan Hamico - Vietnam
- CIMB Investment Bank - Malaysia
- Neyveli Lignite Corporation Ltd, - India
- Vijayanagar Sugar Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- AsiaOL BioFuels Corp., Philippines
- Jorong Barutama Greston.PT - Indonesia
- Latin American Coal - Colombia
- IHS Mccloskey Coal Group - USA
- White Energy Company Limited
- Orica Mining Services - Indonesia
- Coastal Gujarat Power Limited - India
- Singapore Mercantile Exchange
- OPG Power Generation Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- London Commodity Brokers - England
- Manunggal Multi Energi - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Savvy Resources Ltd - HongKong
- India Bulls Power Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Romanian Commodities Exchange
- Global Coal Blending Company Limited - Australia
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