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Monday, 26 March 12
GOLDEN MINES FY11 REVENUE JUMPS 209% - INSIDER STORIES


Insider Stories reported that, coal miner PT Golden Energy Mines Tbk (GEMS), that is controlled by Sinar Mas Group, recorded a 209% jump in revenue last year to Rp 2.86 trillion (approximately US$ 311.123 million) from Rp927 billion (approximately US$ 100.843 million) a year earlier.

Profit after tax jumped 788% to Rp 302 billion (approximately US$ 32.852 million) from Rp 34 billion (approximately US$ 3.698 million), mainly driven by strong growth of coal production last year.

Golden Mines produced 4.39 million tons of coal last year from 1.77 million tons. Coal mining production facilities, located in Sumatra, East Kalimantan, and South Kalimantan, have reserves of 911.25 million tons per December 31 2011.

"The year of 2011 was a break through for us and an effort to continue oyr business as one of the largest coal players in Asia Pacific," said President Director Fuganto Widjaja in a statement filed to Indonesia Stock Exchange last week. Fuganto is son of Indra Widjaja.
Source: Insider Stories



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Monday, 28 May 12
COAL EXPORTS ARE JUMPING HIGHER, BUT PRICES ARE FALLING LOWER
COALspot.com: Indonesia, the world largest coal exporter, shipped  31.86* million tons of coal in April 2012, compared to 30.64* million tons i ...


Sunday, 27 May 12
THE FREIGHT MARKET FROM INDONESIA TO INDIA WAS WEAK - VISTAAR
COALspot.com - The BDI continued to fall for the fourth straight week and the BDI fell by 9.38 pct this week closing at 1,034 points. The Cape Si ...


Sunday, 27 May 12
INDONESIAN SUB-BITUMINOUS COAL SWAPS HEADING TO SOUTH DIRECTION
COALspot.com - Indonesian sub-bituminous coal swaps and CFR South China coal contracts for July deliveries have dropped this week by 5.43 percent an ...


Saturday, 26 May 12
DRY BULK SHIP OWNERS LOOKING TO CUT BACK ON TONNAGE SUPPLY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The oversupply of dry bulk carriers has been the most prominent problem in the market today, pushing down rates and ‘strangling’ profita ...


Thursday, 24 May 12
DRY BULK MARKET RETREATS ON LACK OF CHINA DEMAND - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market retreated yesterday on the back of lower Chinese demand for commodities such as coal and iron ore, typically hauled by dry bulk ...


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