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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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Friday, 18 May 12
EXPORT TAX WILL ERODE PROFITS, INDONESIAN COAL EXEC COMPLAINS - THE JAKARTA GLOBE
The Jakarta Globe reported that, A 20 percent export duty the government has imposed on 14 mineral ore products will not only take a toll on mining ...


Friday, 18 May 12
KOREA EAST WEST POWER LOOKING FOR TOTAL 2.6 MILLION TONS OF 4600 NAR COAL AT FIXED PRICE FOR 5 YEARS
COALspot.com - Korea East West Power Co., Ltd is inviting bids to supply of 520,000  Metric Tons (per annum) of minimum 4,600 kcal/kg coal of N ...


Friday, 18 May 12
NICKEL ORE CARGOES ARE NOT SEEN IN MARKET ANYMORE DUE TO ON-GOING INDONESIAN BAN - FEARNLEYS AS
Handy The market remained variable. Fronthaul voyages both from Baltic and Black Sea paid over USD 18k/day. From USG to Cont tonnage would get ...


Thursday, 17 May 12
COAL MINERS OPPOSE EXPORT TAX, SUGGEST OUTPUT QUOTA - THE JAKARTA POST
The Jakarta Post reported that, coal miners have suggested that the government apply a production quota instead of implementing an export tax in ord ...


Thursday, 17 May 12
DRY BULK MARKET STILL LOOKING FOR NEW DIRECTION - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has kept on moving sideways during this week, with the mixed performance across all segments. Yesterday, the industry’s be ...


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