Friday, Nov04, 2011
Reuters reported that Indonesia's coal production is seen at 327 million tonnes this year, rising to 332 million tonnes in 2012
An official at the country's mining ministry said that this was a lower than a May forecast of 340 million tonnes for this year from the Indonesia Coal Society.
Indonesia is the world's largest exporter of thermal coal.
(source Thomson Reuters)
Showing posts with label thermal coal exporter. Show all posts
Showing posts with label thermal coal exporter. Show all posts
Friday, November 4, 2011
Monday, October 31, 2011
Coalspur reaches 14 year deal to ship thermal coal through Prince Rupert
Monday, 31 Oct 2011 | By CanadianBusiness
Coalspur Mines Ltd has reached a 14 year agreement for exporting thermal coal from its Alberta project site through the Ridley Terminals Inc. port in Prince Rupert, B.C.
The Australian company says the deal significantly decreases the risk of development at its flagship Vista coal mining project in Alberta which is estimated to contain 260 million tonnes of coal reserves.
Initial development costs at the project are expected to be about USD 580 million. Financial terms of the deal with Ridley were not disclosed.
The agreement includes the option for an additional 2.5 million tonnes per year for a total of 8.5 million tonnes. The 14 year term of the deal begins in January 2015 with the option to increase it for seven more years.
Coalspur said the deal also secures port requirements for a majority of the expected production at the open-pit thermal coal project.
The Vista project is beside a CN Rail line that runs to the deepwater port in Prince Rupert, giving the company access to Asian-Pacific countries, where there is growing demand for coal.
Trading of Coalspur shares was halted Thursday prior to the announcement. They closed at USD 2.01 up seven cents after trading resumed.
Mr Gene Wusaty managing director and CEO at Coalspur said "We are exceptionally pleased to have concluded this landmark agreement. It represents a major milestone in the development of Vista as it secures port allocation for the majority of the expected production until 2035. The agreement provides Coalspur committed access to the thermal coal markets in Asia and significantly de-risks the development of Vista as it advances towards the construction phase."
Ridley Terminals, a federal Crown corporation, is the most northern deepwater port in North America.
Mr Bud Smith chairman of Ridley Terminals said "This agreement represents a win-win as it facilitates Coalspur strategy to become the largest export thermal coal producer in Canada and positions Ridley Terminals to become a major gateway for Canadian thermal coal to the global markets."
Coalspur Mines is a coal exploration and Development Company with over 33,200 hectares of coal exploration leases in the Hinton region of Alberta.
Publication of a feasibility study at its Vista project is scheduled for early next year and construction is expected to follow.
Coalspur Mines Ltd has reached a 14 year agreement for exporting thermal coal from its Alberta project site through the Ridley Terminals Inc. port in Prince Rupert, B.C.
The Australian company says the deal significantly decreases the risk of development at its flagship Vista coal mining project in Alberta which is estimated to contain 260 million tonnes of coal reserves.
Initial development costs at the project are expected to be about USD 580 million. Financial terms of the deal with Ridley were not disclosed.
The agreement includes the option for an additional 2.5 million tonnes per year for a total of 8.5 million tonnes. The 14 year term of the deal begins in January 2015 with the option to increase it for seven more years.
Coalspur said the deal also secures port requirements for a majority of the expected production at the open-pit thermal coal project.
The Vista project is beside a CN Rail line that runs to the deepwater port in Prince Rupert, giving the company access to Asian-Pacific countries, where there is growing demand for coal.
Trading of Coalspur shares was halted Thursday prior to the announcement. They closed at USD 2.01 up seven cents after trading resumed.
Mr Gene Wusaty managing director and CEO at Coalspur said "We are exceptionally pleased to have concluded this landmark agreement. It represents a major milestone in the development of Vista as it secures port allocation for the majority of the expected production until 2035. The agreement provides Coalspur committed access to the thermal coal markets in Asia and significantly de-risks the development of Vista as it advances towards the construction phase."
Ridley Terminals, a federal Crown corporation, is the most northern deepwater port in North America.
Mr Bud Smith chairman of Ridley Terminals said "This agreement represents a win-win as it facilitates Coalspur strategy to become the largest export thermal coal producer in Canada and positions Ridley Terminals to become a major gateway for Canadian thermal coal to the global markets."
Coalspur Mines is a coal exploration and Development Company with over 33,200 hectares of coal exploration leases in the Hinton region of Alberta.
Publication of a feasibility study at its Vista project is scheduled for early next year and construction is expected to follow.
Wednesday, October 5, 2011
New coal terminal at Gladstone to start exporting coal by 2014
Wednesday, 05 Oct 2011
It is reported that a consortium planning a new coal terminal in Gladstone says the facility should start exporting coal by 2014.
Eight coal companies are behind a group to develop the Wiggins Island coal terminal.
Mr Mark West Project director said confirmation of finance will allow construction to start almost immediately. He said that "The first stage that has just been committed is for 27 million tonnes of coal and ultimately the terminal could expand to more than 80 million tonnes."
He added that "There's global demand for good quality competitively priced thermal and metallurgical coal through facilities such as Wiggins, it will be providing coal companies with export terminal capacity to meet the demand.”
He also said "There are eight stage one owners here and they all have either brown field or green field developments to support the project and they also invest in upgrade of the rail facilities to bring that volume of coal to Gladstone. There's very large demand. This recognises the global interests for good quality metallurgical coals from Queensland."
(sourced from ABC.net)
It is reported that a consortium planning a new coal terminal in Gladstone says the facility should start exporting coal by 2014.
Eight coal companies are behind a group to develop the Wiggins Island coal terminal.
Mr Mark West Project director said confirmation of finance will allow construction to start almost immediately. He said that "The first stage that has just been committed is for 27 million tonnes of coal and ultimately the terminal could expand to more than 80 million tonnes."
He added that "There's global demand for good quality competitively priced thermal and metallurgical coal through facilities such as Wiggins, it will be providing coal companies with export terminal capacity to meet the demand.”
He also said "There are eight stage one owners here and they all have either brown field or green field developments to support the project and they also invest in upgrade of the rail facilities to bring that volume of coal to Gladstone. There's very large demand. This recognises the global interests for good quality metallurgical coals from Queensland."
(sourced from ABC.net)
Tuesday, February 1, 2011
Some Indonesia coal traders declare force majeure on rule change-assoc
JAKARTA Feb 1,2011
(Reuters) Some Indonesian coal traders have declared force majeure after a trade rule change, with around 60-70 vessels stuck in various ports and 3.5 million tonnes unable to be shipped, the chairman of the Indonesian Coal Mining Association said on Tuesday.
It was not immediately clear which trading companies and which buyers were affected, Bob Kamandanu told reporters, after a new trade regulation caused the delays in the world's top thermal coal exporter.
The problems have come after the trade ministry ordered surveyors in January to temporarily halt issuing surveyor reports to traders who are in the process of reapplying for trading permits under a new coal and mining law system. The surveyor reports are documents required for shipping the fuel.
The rule appeared to affect traders who do not own mines and buy blended coal, or aggregate coal, from various small miners, as well as traders who buy coal in barges. It was not clear which firms had declared force majeure.
"The vessels have been stuck in various coal ports around the country. Stockpiles have been building up because the coal can't be loaded to vessels," Bob Kamandanu said.
Most of the vessels were shipping the coal to buyers in India and China, he said.
Indonesia has required exports of mining products including coal and tin to be checked by surveyors before shipping them out as the country seeks to keep illegal mining in check and boost revenue from the sector.
"They have submitted requests for processing permits to the energy and mines ministry since three months ago but with no response," Kamandanu told reporters.
Surveyor reports show the origin of the cargoes and are used to calculate royalties.
The trade rule so far has not affected shipments from coal firms such as top producers Bumi Resources and Adaro Energy , as surveyors are still allowed to issue reports for coal exports from producers.
But it could affect the country's production if the delays run for a longer period, said Kamandanu.
The delays come as Indian traders and end-users are close to resuming prompt buying on thermal coal after a break of several months, some of India's largest traders said last week.
Australia's thermal coal prices on the globalCOAL weekly index, a benchmark for Asia, closed at $127 per tonne for the week to date on Monday, up from $124.25 a week earlier.(Reporting by Alfian; Writing by by Fitri Wulandari; Editing by Neil Chatterjee, sourced: reuters)
(Reuters) Some Indonesian coal traders have declared force majeure after a trade rule change, with around 60-70 vessels stuck in various ports and 3.5 million tonnes unable to be shipped, the chairman of the Indonesian Coal Mining Association said on Tuesday.
It was not immediately clear which trading companies and which buyers were affected, Bob Kamandanu told reporters, after a new trade regulation caused the delays in the world's top thermal coal exporter.
The problems have come after the trade ministry ordered surveyors in January to temporarily halt issuing surveyor reports to traders who are in the process of reapplying for trading permits under a new coal and mining law system. The surveyor reports are documents required for shipping the fuel.
The rule appeared to affect traders who do not own mines and buy blended coal, or aggregate coal, from various small miners, as well as traders who buy coal in barges. It was not clear which firms had declared force majeure.
"The vessels have been stuck in various coal ports around the country. Stockpiles have been building up because the coal can't be loaded to vessels," Bob Kamandanu said.
Most of the vessels were shipping the coal to buyers in India and China, he said.
Indonesia has required exports of mining products including coal and tin to be checked by surveyors before shipping them out as the country seeks to keep illegal mining in check and boost revenue from the sector.
"They have submitted requests for processing permits to the energy and mines ministry since three months ago but with no response," Kamandanu told reporters.
Surveyor reports show the origin of the cargoes and are used to calculate royalties.
The trade rule so far has not affected shipments from coal firms such as top producers Bumi Resources and Adaro Energy , as surveyors are still allowed to issue reports for coal exports from producers.
But it could affect the country's production if the delays run for a longer period, said Kamandanu.
The delays come as Indian traders and end-users are close to resuming prompt buying on thermal coal after a break of several months, some of India's largest traders said last week.
Australia's thermal coal prices on the globalCOAL weekly index, a benchmark for Asia, closed at $127 per tonne for the week to date on Monday, up from $124.25 a week earlier.(Reporting by Alfian; Writing by by Fitri Wulandari; Editing by Neil Chatterjee, sourced: reuters)
Monday, January 31, 2011
Bukit Asam Expects Coal Sales to Rise 30% This Year
By Bambang Djanuarto
Monday, Jan 31, 2011
PT Tambang Batubara Bukit Asam expects coal sales volume to gain about 30 percent this year as the Indonesian state-owned miner plans to produce more of the fuel to meet increasing demand, President Director Sukrisno said.
Sales may increase to 16.9 million metric tons this year from 12.95 million tons last year while output may rise to 17.6 million tons from 13.1 million tons, said Sukrisno.
“Demand of coal for domestic and global markets will continue to increase,” Sukrisno, who uses one name, told parliament members in Jakarta today. “Local consumption will rise significantly, especially for power projects.”
Indonesia, the world’s largest thermal coal exporter, is planning to burn more of the fuel to make up for falling crude oil production from aging fields, which led to the country withdrawing from the Organization of Petroleum Exporting Countries in 2008. PT Perusahaan Listrik Negara, the country’s state utility, may more than double its annual coal demand to 95.3 million tons by 2015.
Tanjung Enim, South Sumatra-based Bukit Asam has allocated 1.8 trillion rupiah ($199 million) for capital spending this year to boost production, Sukrisno said. The company expects output to climb to 50 million tons in 2015 and 80 million tons in 2018, he added.
Profit Decline
Net income in 2010 may have been lower than the previous year when the company posted 2.73 trillion rupiah of profit because of lower average coal selling price, the president director said. Profit may have fallen 25 percent to 2.04 trillion rupiah last year, according to average estimate of 19 analysts in a Bloomberg survey.
Bukit Asam average selling price fell 19 percent last year to 608,000 rupiah a ton, Sukrisno said. “An increase in sales volume could not compensate for a decline in coal price,” he said, adding the company expects the selling price to rise to 800,000 rupiah a ton this year.
Bukit Asam and Mitsubishi Corp. will jointly develop a coal-to-gas plant in Riau with an annual capacity of 6.5 million tons, Sukrisno said. The Indonesian company will also team up with Lurgi AG in a separate project in South Sumatra, he added.
Bukit Asam shares fell 2 percent to 19,750 rupiah at the 4 p.m. Jakarta time close. The stock has risen 18 percent in the past six months, outpacing the 11.5 percent gain in the benchmark Jakarta Composite index. (sourced:bloomberg)
Monday, Jan 31, 2011
PT Tambang Batubara Bukit Asam expects coal sales volume to gain about 30 percent this year as the Indonesian state-owned miner plans to produce more of the fuel to meet increasing demand, President Director Sukrisno said.
Sales may increase to 16.9 million metric tons this year from 12.95 million tons last year while output may rise to 17.6 million tons from 13.1 million tons, said Sukrisno.
“Demand of coal for domestic and global markets will continue to increase,” Sukrisno, who uses one name, told parliament members in Jakarta today. “Local consumption will rise significantly, especially for power projects.”
Indonesia, the world’s largest thermal coal exporter, is planning to burn more of the fuel to make up for falling crude oil production from aging fields, which led to the country withdrawing from the Organization of Petroleum Exporting Countries in 2008. PT Perusahaan Listrik Negara, the country’s state utility, may more than double its annual coal demand to 95.3 million tons by 2015.
Tanjung Enim, South Sumatra-based Bukit Asam has allocated 1.8 trillion rupiah ($199 million) for capital spending this year to boost production, Sukrisno said. The company expects output to climb to 50 million tons in 2015 and 80 million tons in 2018, he added.
Profit Decline
Net income in 2010 may have been lower than the previous year when the company posted 2.73 trillion rupiah of profit because of lower average coal selling price, the president director said. Profit may have fallen 25 percent to 2.04 trillion rupiah last year, according to average estimate of 19 analysts in a Bloomberg survey.
Bukit Asam average selling price fell 19 percent last year to 608,000 rupiah a ton, Sukrisno said. “An increase in sales volume could not compensate for a decline in coal price,” he said, adding the company expects the selling price to rise to 800,000 rupiah a ton this year.
Bukit Asam and Mitsubishi Corp. will jointly develop a coal-to-gas plant in Riau with an annual capacity of 6.5 million tons, Sukrisno said. The Indonesian company will also team up with Lurgi AG in a separate project in South Sumatra, he added.
Bukit Asam shares fell 2 percent to 19,750 rupiah at the 4 p.m. Jakarta time close. The stock has risen 18 percent in the past six months, outpacing the 11.5 percent gain in the benchmark Jakarta Composite index. (sourced:bloomberg)
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