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Sunday, 26 April 09
MITRA HOPES TO SECURE DEALS WITH TWO COAL FIRMS BY JUNE - THE JAKARTA POST
An integrated oil and gas services company, publicly listed PT Mitra Rajasa, is expecting to seal acquisition deals with two coal companies in June, targeting to produce up to 250,000 tons of coal by the year end.
Mitra president director Tito Sulistio said on Wednesday that the coal would come from a mine with a size of 1,600 hectares of land belonged to South Sumatra-based PT Realita Jaya Mandiri, which was one of two coal companies set to be acquired by Mitra this year in a deal worth US$40 million.
He elaborated Realita had started operating its mine with a production rate of 40,000 tons per month.
"So when we are able to secure the deal by June, we can get about 250,000 tons of coal by the end of the year," he said.
Mitra had signed a memorandum of understanding with Realita and local coal company PT Mashindo Artha Resources, based also in South Sumatra, to acquire both companies.
Mashindo holds a license for mining on 5,600 hectares and another 4,400 hectares of land in Musi Banyuasin, South Sumatra.
"The appraisal for those two mines has not finished yet, we hope it can be finalized by next month," Tito said.
Source: http://www.thejakartapost.com/news/2009/04/22/mitra-hopes-secure-deals-with-two-coal-firms-june.html
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Sunday, 26 April 09
INDONESIAN GOVT SAYS COAL MINES CAUSE WEEKLONG FLOOD - THE JAKARTA POST
Samarinda administration in East Kalimantan admitted openly Thursday that the weeklong flood that paralyzed the city was caused by unruly management ...
Saturday, 25 April 09
FOREIGN SHARE DIVESTMENT STARTING THE 6TH YEAR OF PRODUCTION - MAJALAH TAMBANG
The government would set a divestment scheme for foreign miners, which would require companies to divest their ownership starting the 6th year of pr ...
Saturday, 25 April 09
INDO TAMBANGRAYA MEGAH ALLOCATED USD 126 MILLION FOR CAPITAL SPENDING - MAJALAH TAMBANG
Somyot Ruchirawat, President Director of PT Indo Tambangraya Megah, Tbk (ITMG), has announced the company's total dividend payment of Rp 1,345 per ...
Saturday, 25 April 09
MINING SECTOR IS STILL ON THE SURPLUS - THE JAKARTA POST
The global financial crisis is apparently also having an impact on the mining sector. People are thinking twice about investing in the mining sector ...
Saturday, 25 April 09
ADARO RUNS CATARACT OPERATION PROGRAM - THE JAKARTA POST
As part of its CSR program, thermal coal producer PT Adaro Indonesia has made cataract operations available to residents of Tandjung district, South ...
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- Australian Commodity Traders Exchange
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- Merrill Lynch Commodities Europe
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- Indian Oil Corporation Limited
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- The Treasury - Australian Government
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- Sical Logistics Limited - India
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- Indo Tambangraya Megah - Indonesia
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- Holcim Trading Pte Ltd - Singapore
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- Trasteel International SA, Italy
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