Resources
China coal imports rise 14.5 per cent in April - Wires | Sector data
(The Insider Stories) - China’s coal imports rose 14.5% on month in April as cheaper import prices encouraged end-users to raise orders, with shipments from Indonesia and the U.S. gaining the most, wire services report. Traders said most of the deals were signed earlier in the year. High supply levels have weakened regional prices but Full Article
Indonesia’s cement sales rose 8.6% in April | Sector data
(The Insider Stories) - Cement sales in Indonesia jumped 8.6% to 18.1 million tons in April compared with 16.7 million tons in the same month last year, the Indonesian Cement Association (ASI) reported. The increase was faster than a 3.5% rise in March, which was the slowest pace in the last 15 months. Along with auto sales, Full Article
Four rescued after Freeport Indonesia mine collapse, two die; 37 were trapped | Company data
(The Insider Stories) - Four workers have been rescued after a tunnel collapsed at PT Freeport Indonesia’s Grasberg mine in Papua province in eastern Indonesia and trapped 37 workers, while two have died, the Freeport-McMoRan Copper & Gold Inc. (FCX) subsidiary says in a statement. Indonesian media report one man was treated at a nearby hospital Full Article
Azerbaijan may build $4.8 bln oil refinery, aluminum plant in Indonesia - Jakarta Post | Sector data
(Insider Stories) – Major Indonesian oil supplier Azerbaijan is planning a $4.8 billion refinery on Batam island in Riau province and an aluminum plant in Kalimantan, the South Caucasus nation’s ambassador tells The Jakarta Post. The Post quotes Tamerlan Karayev as saying at an embassy event. State Oil Co. Of Azerbaijan Republic (SOCAR) is in Full Article
Gas flows at Premier Oil’s Matang discovery in Indonesia | Company data
(Insider Stories) - Premier Oil (PMO) announced that the Matang gas discovery on Block A Aceh in Indonesia has flowed gas at 25 million standard cubic feet per day, with initial sampling indicating the gas contained approximately 15% carbon dioxide. The gross resource estimate for the Matang structure remains in line with the pre-drill estimate of between Full Article
Power Capital Global in coal offtake agreement with Perdana Maju Utama | Company data
(Insider Stories) - Asia-based natural resources trading and logistics group Power Capital Global (AIM:PCGB) via joint venture PCG Coal (Indonesia) has entered an offtake agreement with PT Perdana Maju Utama to acquire up to 1m metric tons of thermal coal, the company says on its website. Below is a statement from Power Capital Global. Joint Venture and Full Article
South Korea’s SK E&S to Import LNG from Indonesia – Wires | Sector data
(Insider News) South Korean city gas provider SK E&S Co. has signed a deal with a Chevron-led consortium to import 1.5 million metric tons of liquefied natural gas (LNG) a year from offshore East Kalimantan for its LNG power plant in Gwangyang, about 390 kilometers north of Seoul, Yonhap reports.Full Article
Killara Resources acquires 80% of coal producer Borneo Emas Hitam | Company data
(Insider Stories) – Australia’s Killara Resources (ASX:KRA) has acquired 80% equity interest in Indonesian coal producer PT Borneo Emas Hitam, located in East Kalimantan province, from major shareholder the Zulkarnaen family. Killara will pay, pending due diligence, a minimum of US$2.2 million, a statement says. This transaction underscores the board’s strategy of establishing an Indonesian Full Article
Sumatra Copper & Gold seeks to raise $20 mln from rights issue | Company data
(Insider Stories) – Indonesia’s Sumatra Copper & Gold plc (ASX: SUM) is seeking to raise $20 million through a rights issue as a key financial plank of development of the Tembang Gold-Silver Project in Sumatra. The rights issue is two new CDIs for every five CDIs and will involve the issue of up to 117.8 Full Article
Moody’s affirms Adaro’s ratings at Ba1; outlook stable | Press release
Moody’s affirms Adaro’s ratings at Ba1; outlook stable Singapore, May 08, 2013 - Moody’s Investors Service has affirmed the corporate family and senior unsecured bond rating of PT Adaro Indonesia (Adaro) at Ba1. The outlook of the ratings is stable. RATINGS RATIONALE “The affirmation reflects Adaro’s strong liquidity position, track record of prudent financial management, and our Full Article
Indonesia releases first Extractive Industries Transparency Initiative report | Regulation data
(Insider Stories) - Indonesia has taken a significant step forward in introducing transparency into governance of its extractive resources industry, a sector that is the economy’s mainstay and provides a third of the national budget but where a lack of transparency has led to corruption and conflict, with the Coordinating Ministry for Economic Affairs releasing Full Article
Cargill breaks ground on $100 mln Indonesia cocoa plant | Company data
(Insider Stories) – Cargill Inc. has broken ground on a state-of-the-art cocoa processing facility in Gresik, East Java province, with the company reportedly prepared to invest $100 million in the project. Cargill’s first cocoa processing facility in Asia, the plant will “meet the growing demand among customers for cocoa products and to encourage the development Full Article
Indonesia could reverse coal export ban - Nomura | Sector data
(Insider Stories) - Indonesia could reverse its coal export ban and delay implementation of a coal export tax in order to avoid impacting smaller coal miners, Nomura says. Nomura coal analyst Isnaputra Iskandar says legal and technical and economic issues mean the government likely won’t implement a coal export ban or export tax in the next Full Article
Pertamina launches $5 billion global medium term note program | Company data
(Insider Stories) - Indonesian state-owned energy company PT Pertamina has launched a US$5 billion medium-term note program this week, with people close to the deal saying that Barclays Capital, Citigroup and Royal Bank of Scotland are joint lead arrangers and PT Mandiri Sekuritas is a co-arranger. Pertamina is embarking on an ambitious capital expenditure program that will see Full Article
PHE ONWJ acquired 5% ONWJ Block
(The Insider Stories) - Indonesia oil & gas producer, PT Pertamina Hulu Energi Offshore North West Java (PHE ONWJ), PT Pertamina Hulu Energi subsidiary, acquired 5.03% participating interest of Talisman Resources (North West Java) Ltd in Offshore North West Java (ONWJ) block, said the company in statement. Communications Manager PHE ONWJ Donna Priadi said the Full Article
