Author: Hatman Bintang

Sakari Upgrades Coal Reserves at Sebuku Mine

Posted by | January 5, 2012 | , , | 0 |

SINGAPORE (Indonesia Today) – Sakari Resources Ltd has significantly upgraded the coal reserves at Sebuku mine as at late June 2012. ?? Sebuku???s coal reserves at June 2012 stood at 22.1 million tons of proven reserves and 9.4 million tons of probable reserves with around 26.5 million tons are marketable. Previously, the reserves as of end 2011 stood at 1.6 million and 5.5 million tons of proven and probable reserves respectively with 6 million tons of them are marketable. Additionally, Sakari also has despatched a circular to shareholders of the company following the acquisition offer made by PTT Mining Ltd. The circular contains the advice of Ernst & Young, recommendation of the independent directors, and other information....

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Ciputra’s Brother Bayan Akochi Passes Away

Posted by | January 5, 2012 | , , | 0 |

JAKARTA (Indonesia Today) – Bayan Akochi (Tjie Tjin Hok), older brother of Ciputra, founder of Ciputra Group, has passed away on Sunday (Sept 23). Bayan leaves behind a wife and six children as well as three siblings. Bayan???s body will be buried in Bogor on Tuesday (Sept 25). Bayan is Commissioner of PT Ciputra Development Tbk since 1993. He started his own business in 1949 in Parigi, Central Sulawesi.?? He is also a Director in PT Cakrawala Respati and PT Lahan Adyabumi, the subsidiaries which develop CitraGarden City project in Jakarta....

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Starts Generating Revenues, Bayan’s Unit Still in Red

Posted by | January 5, 2012 | , , , | 0 |

SYDNEY (Indonesia Today) – Kangaroo Resources Limited, a coal subsidiary of Bayan Resources (BYAN), booked net loss of A$6.25 million in the first half ended June 30, 2012, down slightly from A$6.59 million in the previous semester (ended Dec 31, 2011). Kangaroo, which hold some coal concessions in Kalimantan, however, started to generate revenues of A$2.35 million in the period against zero in the previous semester. As of June 30, 2012, Kangaroo Resources had net assets of A$340.57 million. The company has 99% interest in Pakar project (thermal coal), Mamahak project (coking coal), and GPK project (thermal coal). KRL’s subsidiary PT Mamahak Coal Mining has earlier awarded a US$270 million mining contract to PT Putra Perkasa Abadi to mine up to 4.5 million tons over five years, including up to 1 million tons per annum, of coking coal. Bayan Resources controls 56% shares in KRL, which is listed on Australia Stock Exchange (ASX). Bayan booked net profit of US$50.4 million in the first half of 2012, slashed from US$110.4 million in the corresponding period of 2011. (bintang@theindonesiatoday.com)...

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Govt Finds 1,461 Overlapping Concession Cases in Kalimantan

Posted by | January 5, 2012 | , , | 0 |

JAKARTA (Indonesia Today) – Verification of mining licenses by Directorate General of MIneral and Coal finds 1,461 cases of overlapping concessions in Kalimantan alone. The verification also finds 1,599 administrative cases over the mining licenses issued by local administrations in the island.?? The verification was conducted on September 18-19, 2012 in Jakarta. Participating in the verification were representatives from four provincial administrations and 55 regency/mayoralties in the island.?? The government will continue with verification of mining licenses in Sulawesi on October 2-3, 2012, Sumatra on October 16-17, Papua-Maluku on October 30-31, and Java & Nusa Tenggara on November 13-14.?? Overlapping concessions have resulted in hundreds of disputes between business groups or with local people and regional administrations....

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