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Friday, 09 October 09
STRAITS ASIA INDONESIAN MINE COAL LOADER COLLAPSES
 * New coal loading facility collapsed due to heavy rain
* Older coal loading facility seem unaffected so far
* UBS may cut valuation if disruption last beyond 6-mth
Reuters reported that, Singapore-listed coal miner, Straits Asia Resources, said on Thursday the new coal loading facility at its Jembayan mine in Indonesia's East Kalimantan province has collapsed due to heavy rain.
The company did not say whether there were any casualties.
Straits Asia said it is investigating the extent of damage and the potential impact on the future operation of the newly commissioned facility. It said the facility will not be able to load its coal output for "some time".
UBS said in a research note that it might lower its valuation on the company if the disruption lasts longer than six months.
Straits Asia blamed the collapse on several days of rain in the area, which caused erosion and the failure of the foundation structure of the facility.
The company said the Jembayan mine site operates two load out trains at the mine, and the old facility, with a nominal annual capacity of 5.5 million tonnes, "does not appear to be affected by this event."
"All other mining activities at Jembayan continue to function normally and all reasonable steps are being undertaken to mitigate the impact of this event," the company said in a statement to the stock exchange.
Straits Asia, which exports most of its output to power plants in Japan, Korea, Taiwan and India, plans to boost its production from its two coal mines in East Kalimantan province to 9.5 million tonnes in 2009, from 8.6 million tonnes last year.
UBS analyst Andreas Bokkenheuser said in a note that the company should be able to achieve 8 million tonnes of output this year.
"If the loader won't be operational for another six months, our scenario analysis suggest a 10 percent downside from our current S$2.50 ($1.80) valuation to S$2.25," Bokkenheuser said.
The announcement came after the stock market closed. Straits Asia's shares had finished 1.38 percent higher to end at S$2.21, outperforming the broader market .FTSTI which finished 0.62 percent higher. ($1=1.392 Singapore Dollar)
Source: Reuters
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Wednesday, 07 October 09
COAL INDIA, SHIPPING CORP MAY FORM VENTURE TO IMPORT COAL
The venture may be on the lines of the firm that CIL plans with SAIL for coal imports in which both to hold 25%
Live Mint reported that, State-ru ...
Tuesday, 06 October 09
ASIA COAL-PRICE REBOUND TOWARDS $71 ON TENDER ACTIVITY
Reuters reported that, Prices of power-station coal in Australia, a benchmark for Asia, rose 4 percent in the latest week to near $71 a tonne, bolst ...
Tuesday, 06 October 09
BHARATHI CEMENT TO ADD 2.5 MT CAPACITY BY 2010
Business-Standard reported that, Bharathi Cement Corporation (BCC) commenced its commercial operations from its Nallalingayapalli manufacturing plan ...
Tuesday, 06 October 09
MOZAMBIQUE TO BUILD COAL RAILWAY
BBC reported that, Mozambique's government has announced that it has secured $500m (£313m) to build a new railway line. The transport ministe ...
Tuesday, 06 October 09
COAL INDIA AIMS TO BUY MINE ABROAD BY MARCH
*Coal India to issue its first coal import tender by Nov
*ArcelorMittal, 9 others in race to develop abandoned mines
*52 firms keen to partner coa ...
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- Rio Tinto Coal - Australia
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- Heidelberg Cement - Germany
- Timah Investasi Mineral - Indoneisa
- Chamber of Mines of South Africa
- Cigading International Bulk Terminal - Indonesia
- Coal and Oil Company - UAE
- Asmin Koalindo Tuhup - Indonesia
- Australian Commodity Traders Exchange
- Standard Chartered Bank - UAE
- Bangladesh Power Developement Board
- IEA Clean Coal Centre - UK
- Metalloyd Limited - United Kingdom
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- White Energy Company Limited
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- Bukit Makmur.PT - Indonesia
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- PowerSource Philippines DevCo
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- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indian Energy Exchange, India
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- Eastern Coal Council - USA
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- Ministry of Transport, Egypt
- Manunggal Multi Energi - Indonesia
- Carbofer General Trading SA - India
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- Directorate General of MIneral and Coal - Indonesia
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- Gujarat Mineral Development Corp Ltd - India
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- Mjunction Services Limited - India
- CNBM International Corporation - China
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- San Jose City I Power Corp, Philippines
- Posco Energy - South Korea
- Pendopo Energi Batubara - Indonesia
- Energy Link Ltd, New Zealand
- South Luzon Thermal Energy Corporation
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- Banpu Public Company Limited - Thailand
- Bhushan Steel Limited - India
- Essar Steel Hazira Ltd - India
- ASAPP Information Group - India
- Siam City Cement PLC, Thailand
- Riau Bara Harum - Indonesia
- Kideco Jaya Agung - Indonesia
- Karaikal Port Pvt Ltd - India
- Electricity Generating Authority of Thailand
- Australian Coal Association
- Attock Cement Pakistan Limited
- Binh Thuan Hamico - Vietnam
- Sical Logistics Limited - India
- Vizag Seaport Private Limited - India
- Medco Energi Mining Internasional
- Port Waratah Coal Services - Australia
- Edison Trading Spa - Italy
- Indonesian Coal Mining Association
- Marubeni Corporation - India
- Bukit Baiduri Energy - Indonesia
- Star Paper Mills Limited - India
- VISA Power Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Orica Mining Services - Indonesia
- Vedanta Resources Plc - India
- Xindia Steels Limited - India
- Economic Council, Georgia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ambuja Cements Ltd - India
- Goldman Sachs - Singapore
- Indika Energy - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- Iligan Light & Power Inc, Philippines
- Ministry of Mines - Canada
- Thai Mozambique Logistica
- Wood Mackenzie - Singapore
- Central Java Power - Indonesia
- Maheswari Brothers Coal Limited - India
- PNOC Exploration Corporation - Philippines
- Salva Resources Pvt Ltd - India
- Sojitz Corporation - Japan
- Baramulti Group, Indonesia
- Minerals Council of Australia
- Samtan Co., Ltd - South Korea
- Kepco SPC Power Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- GN Power Mariveles Coal Plant, Philippines
- GAC Shipping (India) Pvt Ltd
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- Globalindo Alam Lestari - Indonesia
- Altura Mining Limited, Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Latin American Coal - Colombia
- Parliament of New Zealand
- Antam Resourcindo - Indonesia
- Agrawal Coal Company - India
- Mercuria Energy - Indonesia
- Mintek Dendrill Indonesia
- IHS Mccloskey Coal Group - USA
- Electricity Authority, New Zealand
- Price Waterhouse Coopers - Russia
- Thiess Contractors Indonesia
- Madhucon Powers Ltd - India
- Romanian Commodities Exchange
- The Treasury - Australian Government
- Sinarmas Energy and Mining - Indonesia
- SMC Global Power, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Kalimantan Lumbung Energi - Indonesia
- Singapore Mercantile Exchange
- GMR Energy Limited - India
- Therma Luzon, Inc, Philippines
- Cement Manufacturers Association - India
- Central Electricity Authority - India
- Power Finance Corporation Ltd., India
- Meenaskhi Energy Private Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kapuas Tunggal Persada - Indonesia
- Global Business Power Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- The University of Queensland
- Global Coal Blending Company Limited - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- The State Trading Corporation of India Ltd
- Kaltim Prima Coal - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Siam City Cement - Thailand
- Kohat Cement Company Ltd. - Pakistan
- Eastern Energy - Thailand
- Formosa Plastics Group - Taiwan
- Mercator Lines Limited - India
- MS Steel International - UAE
- Sree Jayajothi Cements Limited - India
- Karbindo Abesyapradhi - Indoneisa
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- Directorate Of Revenue Intelligence - India
- Merrill Lynch Commodities Europe
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- Ceylon Electricity Board - Sri Lanka
- Bhatia International Limited - India
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- Vijayanagar Sugar Pvt Ltd - India
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- Alfred C Toepfer International GmbH - Germany
- McConnell Dowell - Australia
- Aboitiz Power Corporation - Philippines
- PTC India Limited - India
- SN Aboitiz Power Inc, Philippines
- Coalindo Energy - Indonesia
- Intertek Mineral Services - Indonesia
- Bharathi Cement Corporation - India
- Wilmar Investment Holdings
- Jindal Steel & Power Ltd - India
- Africa Commodities Group - South Africa
- Kartika Selabumi Mining - Indonesia
- Simpson Spence & Young - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Trasteel International SA, Italy
- Indian Oil Corporation Limited
- Jaiprakash Power Ventures ltd
- Anglo American - United Kingdom
- Sakthi Sugars Limited - India
- India Bulls Power Limited - India
- Petron Corporation, Philippines
- London Commodity Brokers - England
- Aditya Birla Group - India
- Sarangani Energy Corporation, Philippines
- Deloitte Consulting - India
- OPG Power Generation Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- Larsen & Toubro Limited - India
- Videocon Industries ltd - India
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