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Thursday, 13 August 09
INDONESIA'S BERAU COAL SEES 2010 OUTPUT UP 16 PCT


Reuters reported that, Indonesia's fifth-largest coal miner, PT Berau Coal, expects 2010 production to be nearly 16 percent higher than this year, as new customers and new contracts help fuel growth, a top company official said on Thursday.

"Next year we may produce around 17 million tonnes," President Director Bob Kamandanu told reporters without elaborating. This figure would be about 16 percent higher than this year's production target of 14.7 million tonnes.

Kamandanu gave no details of production so far this year.

Unlisted Berau Coal, which has a 1,200 square km (460 sq mile) concession area in East Kalimantan province, produced 13.2 million tonnes of coal in 2008.

Kamandanu said several new customers were likely to emerge, particularly from India, where many new power plants are scheduled to start operating soon.

The firm has also secured spot contracts with two new Chinese buyers for a combined 700,000 tonnes to be shipped between July and March 2010.

"If it goes well, we will look to extend the contract next year," said Kamandanu.

Armadian Tritunggal -- an investment firm controlled by Indonesian businessman Rizal Risjad -- is selling its 51 percent controlling stake in Berau. Several Indonesian and foreign firms have expressed an interest in the stake.

Sources said Berau had generated strong interest as it is rare for controlling stakes in Indonesian energy firms to be put on the market.

Source: Reuters



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Friday, 07 January 11
SRI LANKA NEW PORT TO OFFER SHIP FUEL IN MAY - LBO
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Friday, 07 January 11
DRY BULK MARKET ON A FREEFALL, AS THE NEW YEAR EARLY DAYS DONT BRING MANY CHEERS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
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Thursday, 06 January 11
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Proactive Investors reported that, Overseas & General (ASX: OGL) has entered into a joint operating agreement on the Jambi Coal Lease in Sumatra ...


Thursday, 06 January 11
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Bangkok Post reported that, Banpu Plc, Asean's largest coal miner, expects minimal impact from the production stoppage at its Daning mine in China ...


Thursday, 06 January 11
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Bloomberg reported that, Steelmakers in Asia may be forced to pay as much as 33 percent more for hard coking coal after the worst floods in 50 years ...


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