Sep 11, 2012 | Agriculture, Industries, News Group
Wilmar International Ltd booked net profit of US$405.75 million in the third quarter ended September 2012, jumped 26.4% from the corresponding period of last year despite 5.7% drop in revenues to US$12.35 billion. This has cut Wilmar International’s net profit...
Sep 10, 2012 | Commodities, Industries, News Group
The government has signed production sharing contract (PSC) for four new coal-bed-methane (CBM) blocks today. Dart Energy, CBM Asia, and Ephindo-Star Energy were granted one block each, while the other for PT Belawa Energi Utama. Looks like the question is not about...
Sep 10, 2012 | Industries, Mining, News Group
Shares of Intrepid Mines (IAU) Ltd gain only 1.25% Tuesday (Oct 9) on ASX despite significant copper and gold upgrade for the Tumpangpity prospect in the Tujuh Bukit gold project, Banyuwangi, East Java. With the upgrade, Tujuh Bukit has copper and gold reserves twice...
Sep 10, 2012 | Commodities, Industries, News Group
Coal prices may decline, but miners continue to boost their output and operations. Kangaroo Resources Limited, a company controlled by Bayan Resources (BYAN), reported 70% output growth in September, while Real Resources Ltd moves closer to commercialization of its...
Sep 10, 2012 | Commodities, Industries, News Group
Dispute between mining contractor PT Sinar Intijaya Putraperkasa and mining concession owner PT Kartika Selabumi Mining (known as KSM Coal) continues. On Monday, October 8, KSM Coal filed a lawsuit against Sinar Intijaya in Central Jakarta Commercial Court. Lawyers of...
Sep 10, 2012 | Industries
National media reported on Monday that state-owned oil and gas firm Pertamina has submitted plans to auction assets of PT Trans Pacific Petrochemical Indotama, where it has 15% shares, due to the default of some payments. Media also reported that PT Perusahaan...
Sep 8, 2012 | Commodities, Industries, News Group
Bumi Resources (BUMI) produced 32.7 million tons of coal in the first half of 2012, 9.2% more than the first half of 2011. Average selling price for the period, however, declined 3% to US$88 per ton. On the other hand, production cost of sales rose 16.6% to US$52.1...
Sep 8, 2012 | Commodities, Industries, News Group
Berau Coal Energy (BRAU) has just released its first half financial results. The company posted net loss of US$39.42 million against net profit of US$89.2 million in the corresponding period of 2011, mostly attributable to the squeezed margins. Berau Coal reported...
Sep 7, 2012 | Commodities, Industries, News Group
In late 2009, KrisEnergy acquired Kambuna and Kutai production sharing contracts (PSCs) from Serica Energy. In April 2010, the company secured a US$150 million acquisition finance facility from Standard Bank Plc, which enables the leveraged acquisition of oil and...
Sep 7, 2012 | Commodities, Industries, News Group
Pretty much as predicted, Indonesian coal reference price for July 2012 dropped further by 9.5% to US$87.56 per ton. This is the lowest price in two years. Bear in mind that the price is a benchmark for coal quality 6,322 Kcal/Kg GAR with total moisture of 8% (ARB),...
