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Thursday, 04 February 10
BUKIT ASAM GOES SHOPPING FOR MORE COAL MINES
 State-owned coal miner PT Tambang Batubara Bukit Asam has set aside Rp 1.5 trillion ($162 million) to acquire two coal mines in East Kalimantan, president director Sukrisno said on Wednesday.
The acquisitions, which Bukit Asam is aiming to complete in 2011, would help the company achieve its target of more than tripling annual production to 50 million tons of coal by 2014, he said.
“The Rp 1.5 trillion is allocated from our internal budget,” Sukrisno said. “After the Kalimantan acquisitions are finished, we will seek to acquire coal mines in Africa and Australia.”
He declined to name the two East Kalimantan mines but said negotiations were already being conducted.
Bukit Asam has previously said that it was interested in acquiring BHP Billiton’s stake in the Maruwai mine in Central Kalimantan. Sukrisno said the company had completed due diligence on the Maruwai stake and submitted a conditional offer to BHP in November.
PT Ciptadana Sekuritas analyst Sylvia Darmaji said Bukit Asam’s acquisition plans, both in Kalimantan and overseas, were quite feasible.
“If they seek loans for their acquisitions, it won’t be difficult for them as they have a clear financial record,” she said. However the feasibility of the planned international acquisitions would depend on the size of the mines, Sylvia said.
| “6.14 million tons of Bukit Asam coal will be exported to Japan, Taiwan, Malaysia, India, South Korea, Thailand and Pakistan in 2010” - PTBA |
Bukit Asam estimates that its 2009 net profit will increase by 50 percent from Rp 1.7 trillion in 2008, while revenue should increase at least 10 percent from Rp 9 trillion in 2008, he said.
The country’s third-largest listed coal miner, Bukit Asam is aiming to grow coal production from an expected 14 million tons in 2010 to 20.1 million in 2011, 25.1 million in 2013 and then a big jump to 50 million tons in 2014.
The company is also building two coal-fired electricity-generating plants near its mines in South Sumatra with capacities of 2,400 and 200 megawatts.
Bukit Asam is in negotiations with state electricity company PT Perusahaan Listrik Negara about the price PLN will pay for electricity from the plants.
Bukit Asam is also aiming to build three small power plants — with generating capacities of 30 MW, 16 MW and 20 MW — for its own use.
Of the 14 million tons of coal Bukit Asam expects to produce this year, 7.8 million tons will be sold domestically and 6.14 million tons will be exported to Japan, Taiwan, Malaysia, India, South Korea, Thailand and Pakistan. Japan is the biggest buyer. It is expected to take 1.3 million tons.
Source: The Jakarta Globe
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Tuesday, 16 February 10
LAW POSES THREAT TO INDONESIA'S COAL INDUSTRY
A zoning law could cost coal miners billions of dollars this year alone, hurt investment in the industry and disrupt the supply of the fuel to the c ...
Tuesday, 16 February 10
KPMG PENS 6-POINT STRATEGY FOR COAL INDIA RESTRUCTURING
Coal India Ltd (CIL) has appointed KPMG Advisory Services Pvt Ltd to advise on consolidating its position as the country’s prime energy provid ...
Monday, 15 February 10
MINING LAW TO BE REVISED
Law No. 4 of 2009 on mineral and coal mining will be revised after a working visit of the Bangka Belitung (Babel) Provincial legislative assembly (D ...
Monday, 15 February 10
EURO COAL PRICES SOFTEN AS CHINESE LUNAR NEW YEAR HOLIDAYS START
Prices of prompt cargoes of coal for delivery into Europe weakened last week on a lack of European demand and market nerves over the possible impact ...
Monday, 15 February 10
INDONESIAN COAL SUFFERS SETBACK AS SUMATRA RAIL LINE HELD UP AGAIN
State-owned coal miner PT Tambang Batubara Bukit Asam’s $1.06 billion rail project in Sumatra faces more delays, and the cost of the project i ...
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