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first_imgTopics : “The effects of the [COVID-19] pandemic continue to be felt, impacting prices and demand in some of our markets,” Srivastava said in an official statement on Monday.The miner’s coal sales volume rose 3 percent to 21.5 million tons in the first quarter, but higher sales were offset by a 6 percent drop in prices to US$49 per ton, said Srivastava. Prior to the pandemic, Bumi expected coal prices to remain between $51 and $53 per ton.Bumi booked a $35.1 million loss in this year’s first quarter, down from $48.5 million in profit in the same period last year, the company’s latest financial report shows. To alleviate the impacts of the pandemic, Bumi is also looking into metal mining and chemical production. Through subsidiary PT Bumi Resources Minerals (BRMS), the company plans to intensify its gold mining in Palu, Central Sulawesi, and zinc mining in Dairi, North Sumatra, starting next year, according to Srivastava.The firm also plans to become one of the coal suppliers to a multi-billion dollar coal-to-methanol processing plant in East Kalimantan. Methanol is commonly used in biodiesel production.The plant, being developed by affiliated financing firm Bakrie Capital Indonesia (BCI), is estimated to require 6 million tons of coal each year once operational in 2024.“There is strong momentum for this project, which will produce high-value methanol from abundant, low-value coal reserves,” said BCI chief executive officer Adika Nuraga Bakrie, in a joint statement on May 15.Developing downstream mining industries is part of the government’s vision to capitalize on Indonesia’s underground wealth.The government, through the new Mining Law, even plans to guarantee mining permit extensions for coal miners that develop downstream operations.Bumi recorded a 97 percent drop in profit last year, one of the steepest among coal miners publicly listed on the Indonesia Stock Exchange (IDX).The company’s profits this year were also pinched by rising production costs, as the company raised its strip ratio – the volume of waste material removed to obtain a given volume of coal – to produce higher quality coal. Production costs rose 38 percent year-on-year (yoy) to $238.17 million in the first quarter. Raising its strip ratio contrasts with Bumi’s competitors PT Adaro Energy and PT Bukit Asam, Indonesia’s first and second most profitable coal miners last year, which lowered their strip ratios to cut costs.center_img Indonesia’s most productive coal miner PT Bumi Resources has lowered its sales target for 2020 after its profits dipped into the negative in the first quarter this year, amid continued global market pressures.The publicly listed firm aims to sell up to 90 million tons of coal this year, down from an initial target of 93 million tons, the firm’s corporate secretary Dileep Srivastava told The Jakarta Post on Tuesday.The lower sales target follows weakening coal prices and demand, particularly from partially-locked down India, Indonesia’s second largest coal buyer.last_img read more

first_img(Letter to the Sports Editor) I TAKE this opportunity to offer sincere congratulations to the Guyana Jaguars cricket team and the coach for their recent success at winning the Regional 4- Day cricket tournament for the third year in succession.The players have performed exceptionally well despite all odds and they must be recognised for this unprecedented achievement.Kudos must also be given to the Berbice Cricket Board, especially the Rose Hall Town Youth & Sports Club, led by Hilbert Foster, the Georgetown Cricket Association, led by Roger Harper and the East Coast Cricket Board, led by Bissoondyal Singh and their respective committee members.These gentlemen and their Association/Boards fought steadfastly over the last seven years to organise and develop cricket within their respective areas despite continuous interference and destabilisation efforts, perpetrated by the illegal regime calling itself the Guyana Cricket Board (GCB).Apart from the now regular and infamous impositions of court injunctions within these areas, the self-servicing GCB made regular disruptive incursions into the three areas with the intention of destroying the structure of the very game of cricket that they were supposed to be overseeing.These three Association/Boards have not for over seven years received a blind cent as cricket subsidy from the GCB, which in turn receives over $70M from the WICB for cricket development and administration in Guyana.It is these very three areas that have produced all the cricketers for the various Guyana teams. Yet the GCB wants recognition for the success of the Guyana Jaguars.The GCB does not have a cricket development plan of its own and has brazenly piggy-backed on the tremendous cricket development and the talented players from Berbice, Georgetown and East Coast while ensuring that those areas do not have any say in the administration of Guyana Cricket.What is even more disturbing is that the current Government, through its Ministry of Sport and the National Sports Commission continue to reward this illegal regime for the efforts of others.I do not know if it is due to ignorance, myopia or downright cronyism but the illegal GCB seems to be finding special favours even within their illegal operations.A little over a year ago it was reported that the Minister of Sport admitted that she was unaware that there was a Cricket Administration Act and that she was not prepared to take the blame for not naming the stands at the Guyana National Stadium. Since then, instead of consolidating efforts to remove the frivolous challenges to the Act, the Minister and the Director of Sport seem to have formed a relationship with the illegal and incompetent GCB by:1. Rewarding that illegal GCB and its controversial secretary with sports awards for 2016 at the ceremony held in January 2017, attended surprisingly by the Minister of Foreign Affairs. The Minister of Sport made some misleading pronouncements on the contributions of the President and Secretary of the GCB with regard to the development of youth cricketers.3. Allocating $1.5?M in balls for school cricket to the illegal GCB. The tournament was disappointingly scheduled to be played during the rainy season and exam term. It would be extremely useful to analyse the programme/plan that influenced this donation since from all appearances there was no proper ground preparation, no proper coaching programme, no proper cricket gear distribution and no proper zoning or coordination of the schedule of matches.The tournament was akin to our youngsters playing cricket in the jungle!There has been no organised ladies cricket since this regime hijacked the GCB in 2011, and they have been selecting female national players from the softball cricket instead. Yet this group has been able to bluff and hoodwink the present sports administration into giving them awards they never deserved.Guyana has got the talent to produce world-class cricketers but the current environment of illegality, amateurism, deceit, favouritism and incompetent cannot help our players. We are winning the war but losing the battle. Why? With Guyana winning regional tournaments and the West Indies Team at its lowest in 20 years, we cannot contribute much to the WI teams.Why are the likes of Roger Harper, Mark Harper, Neil Barry, Ramnaresh Sarwan, Monty Lynch, Albert Smith, Rabindranauth Seeram, Reon King, Clyde Butts, Rodrick Lovell and Hubern Evans not working with our youngsters within a structured programme that is carefully worked out and properly implemented?The time is long overdue to implement the Guyana Cricket Act. If the Minister is unaware of the process she could seek guidance from her Senior Minister of Education, her Director of Sport, her Attorney General, her Minister of State or even the Minster of Public Security all of whom sat at 22 meetings of the Parliamentary Select Committee that crafted and passed the Cricket Bill into Law.The frivolous challenge to the Act that is preventing the holding of free and fair elections of the GCB was instituted by Anand Sanasie et al. It is self-serving and ensures that the illegal GCB does not hold any elections while they fondly embrace the government officials. Is this right in our democratic society?W. G. Bostonlast_img read more

first_imgThree hundred and sixty four days ago, Camp Randall roared.The normally solid red bowl was freckled black. Nebraska was finally in town. But little to its knowledge, Nebraska was about to receive one of the worst welcomes to the Big Ten it could have feared.It was highly touted as one of the biggest matchups in the Big Ten last year, but when the final score flashed on the scoreboards, the 48-17 decision seemed more like an ass-kicking rather than a battle of epic proportions.After quarterback Taylor Martinez threw three interceptions and Montee Ball scored four touchdowns, the Cornhuskers faced embarrassment as they were largely expected to run the conference slate in their move from the Big 12.With Nebraska playing host to the rematch this season, the Badgers are excited to get their first chance to play in Lincoln in an atmosphere that’s said to rival Madison’s.“I’ve heard there’s a really great atmosphere there,” junior center Travis Frederick said. “I hear they do things a little bit different than other teams, but I’m excited to get down there. I heard it’s a great stadium, a great atmosphere, a great crowd. Obviously they’re going to be loud and its kind of fun to play road games.”After a solid 210-yard passing performance last week, redshirt freshman Joel Stave will start under center in the conference opener. Senior running back Ball also said there was “no doubt” he will play this week despite sitting out most of the UTEP game after sustaining a concussion near the beginning of the second quarter.“I know I don’t want to sit out of the game,” Ball said.With 213 yards on the ground against UTEP, the offensive line and the running game finally looked like they were starting to gel – elements that had been missing in the previous three weeks.With a stronger looking offense in its final nonconference game, Frederick feels the O-line – despite all its drama previously this season – is ready for what lies ahead.“I think that we’ve taken several good steps and I think we’re working in the correct direction,” Frederick said of the offensive line. “If we continue to take those steps – I think we are going to take a step this week – we’re definitely going to be ready for the Big Ten season.”While the Badgers hope their new-found offensive vibe finds its way to Lincoln, the Huskers are optimistic quarterback Taylor Martinez will continue his stellar season.Martinez, a dual-threat quarterback, reworked his throwing motion in the offseason and has seen it pay dividends through the nonconference season. The 6-foot-1, 200-pound junior has thrown for 878 yards and nine touchdowns, with only one interception, this season.Wisconsin’s defense is aware of Martinez’s revamped game but still remains confident it will be able to test him.“We just have to keep our eyes on him and know whether it’s a pass, and if it’s a pass he could take off and run and get our eyes back on him,” senior linebacker Mike Taylor said. “If he breaks out, breaks contain, we’ve got to have good pursuit and get to the ball.”While Martinez has overhauled his game, Wisconsin is also keying in on Nebraska’s run game, which has scored 14 touchdowns this season.Central to that running game is senior Rex Burkhead. Burkhead has missed a few games this season, but on 11 rushing attempts this season, he’s racked up 187 yards and three touchdowns.“You’ve got to play sound,” junior linebacker Chris Borland said of UW’s rush defense, which has allowed only one touchdown in 2012. “You’ve got to be in the right place when you’re supposed to be there and then you’ve got to tackle. … They’re a great group of players so you’re going to have to do both your scheme and play well.”For the first time this season, Wisconsin hits the road as a true underdog. From the short history between both teams and Wisconsin’s recent stumbles, odds are against the Badgers as they travel to Nebraska.“For us it just comes [down to] doing what we do,” Frederick said. “Coming out and practicing the way that we do all week and hopefully going out and playing the game as well as we have played – obviously taking a step forward. I think it comes down to just being who we are.”Follow Kelly on Twitterlast_img read more

first_imgShare this:FacebookRedditTwitterPrintPinterestEmailWhatsAppSkypeLinkedInTumblrPocketTelegram Asegun Comprehensive Secondary School, Ibadan, the Oyo State representative, has emerged national champions of the season three of the Etisalat U-15 School Cup.The school defeated FOSLA Academy, Abuja 4-3 via penalty shoot-out after both sides ended two goals apiece in open play in the final match decided at the Campos Mini-Stadium, Lagos on Saturday.The sides, arguably the best teams on parade at the National Finals, had started the first half cautiously, but it was the Oyo boys that looked a better side with some efforts at goal though FOSLA grew into the game as the match dragged down.FOSLA Academy continued from where it had left off in the first half, but was soon pegged back by the Oyo school team which broke the deadlock through Rasheed Qudus who had escaped from the eyes of the opposition defence to nod into the net from a free kick.The goal seemed to have stirred up the Abuja boys and their efforts paid off when Gabriel Adejoh levelled scores with a curling free kick that evaded the wall of the Oyo team. The goal brought the stadium to life as many clapped for the brilliance of the goal.The joy was however short-lived as Rauf Jubril put his side ahead from a free kick. As the time wore on towards the closing five minutes, there was visible apprehension in the camp of the Abuja boys and the thousands of fans they have wooed with their brand of football. FOSLA captain and danger man, Prosper Ojukwu, however had other plans as he drew level with less than two minutes to go to send the match into penalty shoot-out.For winning the tournament, Asegun Comprehensive Secondary School went home with a cash reward of N2 Million and the Champions Trophy as well as N50,000 each for the players, while FOSLA went home with N1 Million with each of the players pocketing N30,000. Third-place winner, Kwara, got a cash prize of N750,000 for its efforts with its players receiving N20,000.00 each.In the individual awards category, goal keeper of the Oyo team, Abram Femi picked the Golden Gloves Award for conceding just two goals at the National Finals. Prosper Ojukwu won the Golden Boot with five open play goals and also the tournament’s Most Valuable Player.Dignitaries who watched the final match include the Chief Executive Officer, Etisalat Nigeria, Matthew Willsher; immediate Past President, Nigerian Football Federation (NFF), Sani Lulu Abdullahi; President, Nigerian School Sports Federation (NSSF), Mallam Ibrahim Muhammad; Director General, Lagos State Sports Commission, Adewunmi Ogunsanya; Vice President, Marketing, Etisalat Nigeria, Adebisi Idowu; Ex-Nigerian Internationals and former Super Eagles Players, Mutiu Adepoju and Victor Agali;  Director, Brand and Experience, Etisalat Nigeria, Elvis Ogiemwonye and Director, Co-Curricular Activities, Lagos State, Babs Akinyeye. last_img read more

first_imgHearts of Oak have been boosted by news that striker Mahatma Otoo will be available for selection against arch-rivals Asante Kotoko on Sunday in the Ghana Premier League derby.Otoo picked an injury during their Premier League game with Liberty Professionals on Saturday and there have been concerns about his ability to recover fully in time for Ghana’s version of the ”El-Classico.”The Ghana Under-20 captain has declared himself fit to face Kotoko.“I picked a minor knock in the game but now I feel good and I’m ready for Kotoko on Sunday. It was a deliberate attempt to come out of the game that early so I can be fully ready for the game as been suggested by some fans,” Otoo told GHANAsoccernet.com”Matches involving Kotoko and Hearts of Oak have always been uncompromising and it will be a feather in my cup and that of my team-mates if we beat them. We know it’s going to be tough but I’m positive about our chances.”Hearts beat Kotoko in the first leg 1-0 at the Baba Yara Stadium. Source; Ghanasoccernet.comlast_img read more