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India Coal Play in Indonesia
Slowdown in China and increasing profile of Mongolia in coal supply for China have prompted Indonesian coal players to see India as main export destination in the coming years. In its pursuit of energy security, Indian companies have intensified their scouting of coal assets in Indonesia. Who are the key players and what will they do? ,Last Updated ( Sat, 04 Sep 2010)
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| COAL JOURNAL
Thermal coal spot prices advanced further by 3.2% to US$93.9 per ton for the week ended September 3rd in Newcastle Port, Australia, benchmark for Asian market. Coal stocks also scored big gains worldwide, while those listed on IDX saw substantial correction. In this report: (1) REA Kaltim, (2) Churchill Mining, (3) Indika Energy. (Sat, 04 Sep 2010)
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| Indo Tambangraya Placement
Banpu Minerals (Singapore) Ltd, a unit of Banpu Public Company Limited, kicks off private placement of 98.5 million shares in PT Indo Tambangraya Megah (ITMG) Tbk to raise up to Rp3.79 trillion, Bisnis.com reported. (Wed, 01 Sep 2010)
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| More Articles |
| • JOURNAL OF LAW | Coal | Magnus Energy Group Ltd and Antig Investments Pte Ltd have received writ of summons as defendants respectively in proceedings filed by Tjong Very Sumito et al in relation to PT Deefu Chemical Indonesia. In this report: (1) Thiess vs Kaltim Prima Coal (KPC), (2) Adaro Energy vs Customers. | |
| • Bumi Resources: H1 Results | Coal | PT Bumi Resources (BUMI) Tbk reported net profit of US$134.57 million in the first half of 2010, slashed 30% from the same period last year. But if we read carefully the report, the profit was mainly contributed by "gain" from divestment of assets (US$171 million). Another accounting maneuver? | |
| • COAL JOURNAL | Coal | Coal stocks ended lower in New York Monday, as crude oil retreated to US$74 per barrel. In Asia, coal stocks closed in higher grounds on broad market sentiment. In this report: (1) NTPC's Indonesia acquisition, (2) Indo Tambangraya's interim dividend. | |
| • Borneo Lumbung IPO & The Falling Coking Coal | Coal | Indonesia Stock Exchange (IDX) has received contract document for the listing of shares of PT Borneo Lumbung Energy (BLE). BLE reportedly expects to raise up to Rp3 trillion from an IPO of 25% shares in the last quarter of 2010. Prospect and outlook? | |
| • Adaro Energy: Lost Steam | Coal | PT Adaro Energy (ADRO) Tbk posted net profit of Rp1.15 trillion in the first half of 2010, slashed 49% from the same period last year on squeezed margin and higher financial charges. The company has also set a modest growth next year. Further correction ahead? | |
| • COAL JOURNAL | Coal | Thermal coal spot prices in Newcastle Port, Australia regained grounds and closed higher by 3.7% to US$91.03 per ton for the week ended August 27. Coal stocks, meanwhile, ended the week with substantial correction on weak crude oil prices. China's import of coal dropped substantially last month. | |
| • COAL JOURNAL | Coal | Coal stocks lost steam worldwide to tracking the downfall of crude oil prices. Major coal players, Peabody and Xstrata, lost ground in New York and London. Pressure continues this morning in Asia. Still, lots of actions spotted in the industry. In this report: (1) MetroCoal acquires Indonesian asset, (2) Pelita Sejahtera's coal play, (3) Bukit Asam's acquisitions. | |
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