| News & Trends | ||
| Thermal coal producers brace for tough times ahead - 21 Nov, 2008 | ||
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Jakarta Post reported that two coal producers are revising down their targets for next year and resetting priorities given global economic uncertainties. PT Berau Coal has revised down its planned capital expenditure for 2009 to USD 27 million from its initial plan of USD 60 million. PT Tambang Batubara Bukit Asam also said that it would also reconsider its long term projects, including a steam turbine power plant project. Mr Bob Kamandanu president director of Berau’s said that it has set a lower expenditure target for 2009 because it also had revised down its production target for 2009. He said that Berau would produce between 15.5 million and 16 million tonnes of coal, down from an initial target of 18 million tonnes. Mr Bob also said that the new 2009 target would be easier for the company's partners to achieve under the current unfavorable economic conditions. He pointed to the likelihood of decreasing demand from importing countries, including China, as another reason for the company to lower its production target. Also with reduced investment spending, a number of projects would consequently be delayed. One of these is a port upgrading project in Suaran, Berau Regency in East Kalimantan. Previously the project was expected to be finished by 2010, but the company would now delay completion until 2011. Mr Sukrisno president director of Bukit Asam said that "We are still analyzing our plans. But, it seems that we may reconsider projects that need finance from overseas funds." He however added that it would not back down from any plans that could harm directly the company's production capacity. Bukit Asam for example would move forward its project to enlarge its dock facilities at Tarahan, Lampung Province. Bukit Asam forecasts it will produce 10 million tonnes of coal in 2008. | ||
| News And Trends | ||
 | Indian iron ore spot prices decline last week | |
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| Indian iron ore spot prices decline last week | |
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| Indian iron ore spot prices decline last week | |
