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Thursday, 12 November 09
BANPU TO INVEST US$ 466 M
 Plan targets 33.5m tonnes of coal per year
Bangkok Post reported that, Banpu Plc, Asean's largest coal miner, is planning capital investments of more than $466 million over the next six years.
The investment will lift the company's coal production to 33.5 million tonnes per year by 2015, from its target of 23 million tonnes next year.
Only marginal revenue growth is predicted over the next year despite a forecast production increase of 12% from the current 20.5 million tonnes, chief executive Chanin Vongkusolkit said yesterday.
Of the total investments planned for 2010-15, about $190 million will be spent on expanding Indonesian-based coal mines; $22 million will be used to lift output in China; and $255 million to complete the $400-million Hongsa Lignite thermal power project in Laos.
The six-year capital expenditure will only be spent on existing projects. Additional investments could be made as the company is exploring new coal mining opportunities in Indonesia, Australia and China, Mr Chanin said.
"Our new investments will pretty much concentrate on the coal business which we expect to have healthy demand growth over the next 10 to 20 years," he said. "At the same time, Banpu will reduce our profile in the power business focusing only on projects that ... support our coal operations."
The company is considering bank loans and bond issues to finance the investments.
Its debt-to-equity ratio ceiling is projected at 1:1, meaning that Banpu has room to borrow about 40 billion baht on top of its existing liability of approximately 10 billion baht, he said.
Banpu is currently involved in a bid to acquire Indonesia's Berau coal mine, which has an annual production capacity of 15 million tonnes.
While its third-quarter financial results beat market expectations, Mr Chanin said Banpu's performance would weaken in the fourth quarter due to lower coal prices and maintenance closures at the BLCP power plant, in which Banpu holds an equal stake with Electricity Generating Plc (Egco).
The coal miner reported a third-quarter increase in net profit of 22% year-on-year to 3.8 billion baht - beating the market consensus of 3.1 billion - as revenue slid 3% on falling coal prices.
Nine-month earnings jumped to 12.58 billion baht from 7.48 billion baht a year earlier on revenue of 40.43 billion, an increase of 18.7%.
"Overall performance this year is better than our projection even though we anticipate both revenue and profit to weaken in the last quarter," Mr Chanin said.
Banpu has set a final-quarter delivery target of 6.6 million tonnes of coal, generating revenue of 16 billion baht. Turnover in 2009 is forecast at 57 billion baht, an increase of 14% over last year.
Despite expected weaker fourth-quarter results, UOB Kay Hian Securities upgraded Banpu's 2009 earnings estimates by 7% to 14.38 billion baht, compared with 9.23 billion last year, citing higher production and better-than-expected year-to-date results.
Shares of Banpu closed yesterday on the Stock Exchange of Thailand at 462 baht, up 14 baht, in trade worth 1.9 billion baht.
Source: Bangkok Post
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Wednesday, 11 November 09
INDONESIA ASKS DOMESTIC COAL FIRMS TO SET ASIDE 30PCT OF OUTPUT
Indonesian government said that it had asked domestic coal producers to set aside 30% of their output next year to meet demand from new coal fired p ...
Wednesday, 11 November 09
MINING ACQUISITIONS BECOMING MORE STRATEGIC - E&Y
Mining Weekly reported that, Although miners around the world are looking to position themselves for growth, companies are being more selective when ...
Tuesday, 10 November 09
THAI COAL MINER BANPU Q3 NET UP, BEATS FORECAST
Reuters reported that, Thailand's top coal miner, Banpu, said on Tuesday its third-quarter net earnings rose a higher-than-expected 22 percent, hel ...
Monday, 09 November 09
NAPOCOR DEFERS 50,000 T COAL TENDER
Top Philippine electricity producer National Power Corp. (Napocor) has indefinitely postponed a tender for supply of 50,000 tons of steam coal sched ...
Monday, 09 November 09
SAM'S SEAFOOD HOLDINGS SET TO COMMENCE DRILLING AT INDONESIAN COAL PROJECT
Proactive Investors reported that, Sam's Seafood Holdings is preparing to kick off diamond drilling at the company's Indonesian coal project after ...
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- New Zealand Coal & Carbon
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- Romanian Commodities Exchange
- Kepco SPC Power Corporation, Philippines
- Australian Coal Association
- Krishnapatnam Port Company Ltd. - India
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- Miang Besar Coal Terminal - Indonesia
- Tamil Nadu electricity Board
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- Renaissance Capital - South Africa
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- Ceylon Electricity Board - Sri Lanka
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- Planning Commission, India
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- Port Waratah Coal Services - Australia
- Cigading International Bulk Terminal - Indonesia
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- Ministry of Mines - Canada
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- Wilmar Investment Holdings
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- Price Waterhouse Coopers - Russia
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- Global Coal Blending Company Limited - Australia
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- Baramulti Group, Indonesia
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- Ind-Barath Power Infra Limited - India
- Holcim Trading Pte Ltd - Singapore
- The University of Queensland
- European Bulk Services B.V. - Netherlands
- Toyota Tsusho Corporation, Japan
- Independent Power Producers Association of India
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- Bulk Trading Sa - Switzerland
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- Indian Energy Exchange, India
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- Siam City Cement PLC, Thailand
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- Goldman Sachs - Singapore
- Minerals Council of Australia
- Samtan Co., Ltd - South Korea
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- Carbofer General Trading SA - India
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- Ministry of Finance - Indonesia
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- Latin American Coal - Colombia
- Posco Energy - South Korea
- Edison Trading Spa - Italy
- Chettinad Cement Corporation Ltd - India
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- Kideco Jaya Agung - Indonesia
- Intertek Mineral Services - Indonesia
- White Energy Company Limited
- Electricity Generating Authority of Thailand
- Eastern Coal Council - USA
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- Merrill Lynch Commodities Europe
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- Semirara Mining Corp, Philippines
- Eastern Energy - Thailand
- Bank of Tokyo Mitsubishi UFJ Ltd
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- Essar Steel Hazira Ltd - India
- IHS Mccloskey Coal Group - USA
- Kartika Selabumi Mining - Indonesia
- The State Trading Corporation of India Ltd
- Indogreen Group - Indonesia
- Energy Link Ltd, New Zealand
- Jindal Steel & Power Ltd - India
- Chamber of Mines of South Africa
- Economic Council, Georgia
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- Trasteel International SA, Italy
- Electricity Authority, New Zealand
- Bhoruka Overseas - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Deloitte Consulting - India
- Mercator Lines Limited - India
- India Bulls Power Limited - India
- AsiaOL BioFuels Corp., Philippines
- McConnell Dowell - Australia
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- Asia Pacific Energy Resources Ventures Inc, Philippines
- Karaikal Port Pvt Ltd - India
- SMG Consultants - Indonesia
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- Asmin Koalindo Tuhup - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Attock Cement Pakistan Limited
- Wood Mackenzie - Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- Rashtriya Ispat Nigam Limited - India
- Commonwealth Bank - Australia
- Riau Bara Harum - Indonesia
- Videocon Industries ltd - India
- SN Aboitiz Power Inc, Philippines
- Africa Commodities Group - South Africa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Mintek Dendrill Indonesia
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