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Wednesday, 09 September 09
SALES FORECAST UP ON BETTER DISTRIBUTION
 The Jakarta Post reported that, State coal producer PT Tambang Batubara Bukit Asam (PT BA) expects coal sales to rise by 11 percent next year as it improves rail networks for the transportation of coal.
The company may sell as much as 15 million tons of coal next year, an increase from its target of 13.5 million this year, as it expects to transport more coal after purchasing of new locomotives, corporate secretary Achmad Sudarto said Monday night. "We hope that with better transport we can sell more coal."
The improvement in the transportation system is expected to help the company capitalize on a rise in production in 2010, when coal output is expected to reach up to 14 million tons from the expected 11 million tons this year.
The company sells coal not only from its own mines but from trade.
Aiming to increase production in near future, PT BA is in the process of acquiring two mining companies in Kalimantan under a deal estimated to be worth US$150 million.
"We hope we can settle the deal before the end of this year," Sudarto said, adding the company would finance the acquisition with internal funds.
The acquisitions are aimed at helping the company meet its production target of 50 million-tons in the next three to four years.
PT BA produced 5.6 million tons of coal in the first half this year, a 20-percent rise on 2008. It sales volume was unchanged at 5.8 million tons, of which 73 percent was allocated to the domestic market. The company's latest financial report showed its net profit soared 124 percent to Rp 1.59 trillion ($159 million) in the first half of this year, on the back of higher coal prices.
The company said that the average selling price rose 55.7 percent to Rp 768,553 a ton.
Sudarto said that the performance of the company in the next half "will be so much better" on the back of increasing sales volume, which is expected to reach 13.5 million tons this year, a 5.5-percent increase on 2008.
Sudarto also unveiled a target for the completion of 30-megawatt coal-fired power plant in South Sumatra in first quarter of 2011. The plant, Sudarto said, will cut operational cuts.
The company needs 23 megawatts of electricity to support its production activities.
Source: The Jakarta Post
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Friday, 18 September 09
AUSTRALIA NEWCASTLE COAL PORT: SEEKS INTERIM QUOTA SYSTEM
Reuters reported that, Australia's Newcastle coal terminal wants to re-introduce an interim export quota system after a group of miners led by BHP ...
Friday, 18 September 09
STANCHART TO ADVISE BAYAN ON INDONESIA COAL FINANCING
Indonesian coal miner PT Bayan Resources Tbk said on Wednesday it has appointed Standard Chartered Bank as a financial adviser for raising at least ...
Friday, 18 September 09
COKING COAL SUPPLY TO FALL 3 MILLION TONS IN CHINA ON SHUTDOWN
Bloomberg reported that, Coking coal supply in China, the largest consumer, may fall by 3 million metric tons a month after a mine accident this mon ...
Thursday, 17 September 09
FOUR LEFT IN INDIA'S MMTC COAL IMPORT TENDER-SOURCE
Reuters reported that, India's MMTC Ltd has accepted four out of five submissions for an import tender for 12.5 million tonnes of coal, with a bid ...
Thursday, 17 September 09
INDIA SEEKS COAL
IBT commodities reported that, India is on a coal buying spree. The big Asian nation is scrambling to cover an expected shortfall in domestic supply ...
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Showing 6416 to 6420 news of total 6871 |
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