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Friday, 09 September 11
SUPRA BARA SECURES $20 MILLION LOAN - JP
The Jakarta Post reported that, Coal miner PT Supra Bara Energi says it has secured a US$20 million loan facility from BNP Paribas to buy heavy equipment for its site in Berau, East Kalimantan.
Company chief executive officer Kuhan Selvaretnam said on Wednesday that Supra Bara Energi wanted to increase production from a current level of 600,000 to 1.2 million tons per year.
"The heavy equipment will arrive at our site in Berau in November. Starting that month, we can raise production from 50,000 tons of coal per month to 100,000 tons," he said at a press conference in Jakarta.
Supra Bara Energi and BNP Paribas are now discussing the second phase of the loan facility to help the coal producer reach production targets of 3 million tons in 2013 and 5 million tons in 2014.
"The second phase of the loan will be greater than $20 million and will have a tenure of between three and five years," Kamal Osman, president director of BNP Paribas, said.
Kuhan said that Supra Bara Energi would conduct an initial public offering (IPO) if production reached 80% of its 2014 target.
Supra Bara Energi currently has seven mining sites in Kalimantan in the production phase and exports coal primarily to Asian countries such as China, India, Japan and Taiwan.
Source: The Jakarta Post
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Wednesday, 16 November 11
TAX OFFICE VOWS TO CRACK DOWN ON COAL MINERS - JP
The Jakarta Post reported that, the Finance Ministry’s Directorate General of Taxation says that it will strengthen its supervision of coal mi ...
Wednesday, 16 November 11
A STRONG WEEK FOR THE CAPES - BRS
A sharp bounce by the Cape market pushed the BDI up by 3% last week. This was despite a softening in the other indices with the Panamax, Supramax an ...
Monday, 14 November 11
BORL SEEKS 660K MT OF LOW SULPHUR COAL
COALspot.com - BORL India has issued a tender for around 660,000 MT of 4500 - 5500 kcal/kg sub-bituminous Coal.
Bharat Oman Refineries Ltd ...
Sunday, 13 November 11
BUNKER PRICES REMAINED FIRM
COALspot.com - The market seemed to recover this week with the BDI and Cape Index up.
The BDI was up by only about 2.86 pct closing at 1835 point ...
Saturday, 12 November 11
COALINDO ENERGY LAUNCHED INDEX FOR 3400 GAR COAL
COALspot.com - PT Coalindo Energy, in cooperation with Argus Media Limited, launched the coal index for low-rank coal with a calorific value of 3,40 ...
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- Standard Chartered Bank - UAE
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- Filglen & Citicon Mining (HK) Ltd - Hong Kong
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