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Coal Mining Exploration Company, Semirara Sees Strong Profit Growth
Semirara Mining Corporation, the country’s largest coal producer, expects its net profit to rise more than 20 percent this year and coal revenues to jump as much as 56 percent mainly due to higher coal prices and increased exports, the company’s chief executive said Tuesday.
Semirara hopes to sustain its double-digit profit and coal revenue growth [...]
Indonesian Mining Coal Mine Exploration $1.3 bln IPO gets OK for next week
The $1.3 billion initial public offering of PT Adaro Energy Tbk, Indonesia’s second-biggest coal miner by output, will go ahead this week after obtaining approval from the regulator, the lead underwriter said late on Friday.
The offering, Indonesia’s biggest, was delayed as the capital markets regulator Bapepam requested clarifications.
Some critics have complained about the proposed allocation [...]
Asia Coal-Prices climb above $54 on bullish demand
Benchmark Australian spot thermal coal prices rose above $54 a tonne, the highest level in more than three weeks, as active Asian buying was compounded by a lack of spot coal supplies.
Thermal coal, used for power generation, rose $1.37 from a week earlier to $54.66 per tonne, the globalCOAL NEWC index showed on Monday, based [...]
S.Korea KEPCO seeks to secure overseas coal mines
South Korea’s Korea Electric Power Corp. (KEPCO) is trying to secure overseas coal mines as early as this year as it seeks a steady coal supply for its generators, the company’s president said on Wednesday.
State-run KEPCO, which currently holds no stakes in coal mines, will also look at mergers with overseas electric power companies in [...]
Tata to buy Indonesian coal companies
India’s private major Tata Power says it has plans to buy stakes in two Indonesian coal firms owned by Pt Bumi Resources.
The company said it will invest $1.1 billion to buy 30 percent in each of the two companies. The company will set up an offshore special-purpose vehicle for the acquisition.
Indonesia’s Riches Draw China, India
When it comes to energy and industrial commodities, China and India are Asia’s fiercest competitors. For the last couple of years, both Chinese and Indian companies have done deals across the globe — from Latin America to Africa — to win oil exploration rights or secure long-term raw material contracts.
Now they have set their sights [...]
Indian buyers replace Chinese coal with S. African
Indian coal consumers who rely on imported Chinese and South African material are finding it impossible to obtain Chinese tonnes, Indian and European traders said.
Cement and sponge iron makers on the West coast of India, especially, have been seeking more prompt South African coal cargoes as a result, traders said.
