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Monday, 20 April 09
INDO TAMBANGRAYA 2009 OUTPUT TO GO UP 16% - THE JAKARTA POST
Indonesia's third largest coal producer, publicly listed PT Indo Tambangraya Megah (ITM), is targeting to raise production by 16 percent this year as the company starts mining in a new area.
The company, which is a subsidiary of Thailand’s largest coal producer Banpu Plc, will expand production to 20.5 million tons this year from 17.6 million tons in 2008.
Sales are forecast to rise to between US$1.33 billion and $1.54 billion from $1.32 billion in 2008.
ITM president director Somyot Ruchirawat said on Friday the additional coal would be secured from a new mining site located in the eastern part of the existing Indominco block in Kalimantan.
“Indominco East Block will start producing by the second half of this year,” he said, adding the company expected the new mine would provide additional coal supply of up to two million tons.
The remaining planned output will be secured from other mining sites, thanks in part to the company’s current and ongoing output improvement initiatives, he said.
The initiatives are expected to help reverse a drop in production last year due to heavy rainfall. Last year, coal production was down 1.1 percent to 17.6 million tons from 17.8 million tons in 2007.
ITM finance director Edward Manurung said the company would spend $57 million on the improvement initiatives, which would take up the biggest part of the company’s capital expenditure of US$126 million allocated for this year.
The company will also spend $41 million on the Bontang port expansion in East Kalimantan, $6 million on the Bontang power plant, $15 million on the development of the Indominco East Block and $7 million on the new Bharinto mining project in East Kalimantan, which is targeted to start producing in 2010.
Edward said the company would use internal cash to finance its capital expenditure plans.
The company was looking for the opportunity to acquire more local coal companies located in Kalimantan, Ruchirawat said, without going into further details.
“With the decline in coal prices, it makes the price of assets cheaper and that’s an opportunity for us,” he said.
The company has estimated that coal prices next year will be between $65 and $75 a ton, relatively flat compared to last year’s $74 a ton.
So far, the company had secured 88 percent of targeted coal contracts with selling prices ranging between $75 and $85 a ton.
ITM shares declined 2 percent to Rp 14,750 Friday after UBS AG cut the stock’s rating to “neutral” from “buy,” citing its “expensive” valuation, according to Bloomberg.
Source:http://www.thejakartapost.com/news/2009/04/18/indo-tambangraya-2009-output-go-16.html
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Monday, 06 April 09
RICHARDS BAY COAL TERMINAL EXPORTS ROSE 5 PERCENT IN MARCH - BLOOMBERG
South Africa’s Richards Bay Coal Terminal, the world’s largest coal-export facility, shipped 5 percent more coal in March than the same ...
Monday, 06 April 09
INDIA'S OSWAL CHEM EYES INDONESIAN COAL MINES -ECONOMICTIMES
Oswal Chemicals and Fertilisers (OCFL), part of Abhay Oswal-led Oswal group, has initiated talks with three separate Indonesian coal firms to ...
Thursday, 02 April 09
FOREIGNERS ALSO CHEER FOR INDONESIA'S THE NEW MINING LAW - MAJALA TAMBANG
Three mining giants, Australia's Rio Tinto along with Canada's Barrick Gold and Southern Arc, are among foreign corporations currently applying fo ...
Wednesday, 01 April 09
INDONESIAN GOVERNMENT REVISES MINING REVENUE TARGET DOWN 26% - THE JAKARTA POST
Government income from mining this year, excluding taxes, is expected to drop by about 26 percent to Rp 11 trillion ($957 million), primarily becaus ...
Wednesday, 01 April 09
INDONESIAN OFFICIAL CLAIMS NEW LEGISLATION IS VINDICATED AS OVERSEAS FIRMS LINE UP FOR MINING LICENSES - THE JAKARTA GLOBE
The Energy and Mineral Resources Ministry is expected to issue six mining licenses under the country’s new mining law over the next two months ...
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- Goldman Sachs - Singapore
- Bayan Resources Tbk. - Indonesia
- Power Finance Corporation Ltd., India
- San Jose City I Power Corp, Philippines
- SMG Consultants - Indonesia
- Meenaskhi Energy Private Limited - India
- Simpson Spence & Young - Indonesia
- Banpu Public Company Limited - Thailand
- ICICI Bank Limited - India
- South Luzon Thermal Energy Corporation
- Ministry of Finance - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Gujarat Electricity Regulatory Commission - India
- Merrill Lynch Commodities Europe
- Australian Commodity Traders Exchange
- Toyota Tsusho Corporation, Japan
- Planning Commission, India
- Leighton Contractors Pty Ltd - Australia
- CIMB Investment Bank - Malaysia
- Kalimantan Lumbung Energi - Indonesia
- Africa Commodities Group - South Africa
- Edison Trading Spa - Italy
- Trasteel International SA, Italy
- Kideco Jaya Agung - Indonesia
- IHS Mccloskey Coal Group - USA
- Electricity Generating Authority of Thailand
- Jaiprakash Power Ventures ltd
- Binh Thuan Hamico - Vietnam
- Makarim & Taira - Indonesia
- Dalmia Cement Bharat India
- Directorate Of Revenue Intelligence - India
- Heidelberg Cement - Germany
- Ind-Barath Power Infra Limited - India
- Bhoruka Overseas - Indonesia
- TeaM Sual Corporation - Philippines
- Australian Coal Association
- Therma Luzon, Inc, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Krishnapatnam Port Company Ltd. - India
- Bangladesh Power Developement Board
- CNBM International Corporation - China
- Bhushan Steel Limited - India
- Antam Resourcindo - Indonesia
- Gujarat Sidhee Cement - India
- Vijayanagar Sugar Pvt Ltd - India
- White Energy Company Limited
- Tata Chemicals Ltd - India
- Indian Energy Exchange, India
- Port Waratah Coal Services - Australia
- Tamil Nadu electricity Board
- Ambuja Cements Ltd - India
- Indian Oil Corporation Limited
- Oldendorff Carriers - Singapore
- Minerals Council of Australia
- Madhucon Powers Ltd - India
- McConnell Dowell - Australia
- Straits Asia Resources Limited - Singapore
- Indika Energy - Indonesia
- Ministry of Transport, Egypt
- Wilmar Investment Holdings
- Meralco Power Generation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sical Logistics Limited - India
- Lanco Infratech Ltd - India
- Kaltim Prima Coal - Indonesia
- Kobexindo Tractors - Indoneisa
- India Bulls Power Limited - India
- Altura Mining Limited, Indonesia
- Sarangani Energy Corporation, Philippines
- Wood Mackenzie - Singapore
- Bulk Trading Sa - Switzerland
- Pipit Mutiara Jaya. PT, Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Sakthi Sugars Limited - India
- Riau Bara Harum - Indonesia
- Samtan Co., Ltd - South Korea
- Iligan Light & Power Inc, Philippines
- Karaikal Port Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- Kepco SPC Power Corporation, Philippines
- IEA Clean Coal Centre - UK
- AsiaOL BioFuels Corp., Philippines
- Global Green Power PLC Corporation, Philippines
- Global Business Power Corporation, Philippines
- Aditya Birla Group - India
- Sindya Power Generating Company Private Ltd
- Bukit Baiduri Energy - Indonesia
- PNOC Exploration Corporation - Philippines
- Central Electricity Authority - India
- Essar Steel Hazira Ltd - India
- Borneo Indobara - Indonesia
- Bhatia International Limited - India
- Anglo American - United Kingdom
- Pendopo Energi Batubara - Indonesia
- Orica Mining Services - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Romanian Commodities Exchange
- The University of Queensland
- International Coal Ventures Pvt Ltd - India
- Carbofer General Trading SA - India
- Thiess Contractors Indonesia
- Rio Tinto Coal - Australia
- Uttam Galva Steels Limited - India
- Economic Council, Georgia
- Directorate General of MIneral and Coal - Indonesia
- Petron Corporation, Philippines
- London Commodity Brokers - England
- VISA Power Limited - India
- LBH Netherlands Bv - Netherlands
- Semirara Mining Corp, Philippines
- Indo Tambangraya Megah - Indonesia
- Parliament of New Zealand
- Manunggal Multi Energi - Indonesia
- The Treasury - Australian Government
- Gujarat Mineral Development Corp Ltd - India
- Coalindo Energy - Indonesia
- GMR Energy Limited - India
- Posco Energy - South Korea
- Cigading International Bulk Terminal - Indonesia
- Xindia Steels Limited - India
- Barasentosa Lestari - Indonesia
- Star Paper Mills Limited - India
- Independent Power Producers Association of India
- Maheswari Brothers Coal Limited - India
- Coal and Oil Company - UAE
- Deloitte Consulting - India
- Electricity Authority, New Zealand
- Bukit Makmur.PT - Indonesia
- Thai Mozambique Logistica
- Malabar Cements Ltd - India
- Jindal Steel & Power Ltd - India
- Central Java Power - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Kartika Selabumi Mining - Indonesia
- Vedanta Resources Plc - India
- European Bulk Services B.V. - Netherlands
- Bukit Asam (Persero) Tbk - Indonesia
- Ministry of Mines - Canada
- SN Aboitiz Power Inc, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Timah Investasi Mineral - Indoneisa
- Interocean Group of Companies - India
- Siam City Cement PLC, Thailand
- Global Coal Blending Company Limited - Australia
- Georgia Ports Authority, United States
- Energy Link Ltd, New Zealand
- New Zealand Coal & Carbon
- Vizag Seaport Private Limited - India
- Kapuas Tunggal Persada - Indonesia
- Videocon Industries ltd - India
- Sinarmas Energy and Mining - Indonesia
- Chamber of Mines of South Africa
- Bank of Tokyo Mitsubishi UFJ Ltd
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Coastal Gujarat Power Limited - India
- Indogreen Group - Indonesia
- Mercuria Energy - Indonesia
- SMC Global Power, Philippines
- Bharathi Cement Corporation - India
- Kumho Petrochemical, South Korea
- Mintek Dendrill Indonesia
- Marubeni Corporation - India
- Eastern Energy - Thailand
- PTC India Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Attock Cement Pakistan Limited
- Sree Jayajothi Cements Limited - India
- Rashtriya Ispat Nigam Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Cement Manufacturers Association - India
- Savvy Resources Ltd - HongKong
- Renaissance Capital - South Africa
- Bahari Cakrawala Sebuku - Indonesia
- Mjunction Services Limited - India
- Alfred C Toepfer International GmbH - Germany
- MS Steel International - UAE
- Billiton Holdings Pty Ltd - Australia
- Singapore Mercantile Exchange
- Energy Development Corp, Philippines
- Globalindo Alam Lestari - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Baramulti Group, Indonesia
- Aboitiz Power Corporation - Philippines
- Agrawal Coal Company - India
- PowerSource Philippines DevCo
- Kohat Cement Company Ltd. - Pakistan
- Standard Chartered Bank - UAE
- Grasim Industreis Ltd - India
- Intertek Mineral Services - Indonesia
- Latin American Coal - Colombia
- Parry Sugars Refinery, India
- Price Waterhouse Coopers - Russia
- Siam City Cement - Thailand
- Miang Besar Coal Terminal - Indonesia
- Commonwealth Bank - Australia
- Larsen & Toubro Limited - India
- Salva Resources Pvt Ltd - India
- Mercator Lines Limited - India
- GVK Power & Infra Limited - India
- Orica Australia Pty. Ltd.
- ASAPP Information Group - India
- Ceylon Electricity Board - Sri Lanka
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indonesian Coal Mining Association
- GAC Shipping (India) Pvt Ltd
- Jorong Barutama Greston.PT - Indonesia
- OPG Power Generation Pvt Ltd - India
- Medco Energi Mining Internasional
- Eastern Coal Council - USA
- Metalloyd Limited - United Kingdom
- Sojitz Corporation - Japan
- Karbindo Abesyapradhi - Indoneisa
- Chettinad Cement Corporation Ltd - India
- The State Trading Corporation of India Ltd
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