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Sunday, 19 February 12
INDIKA ACQUIRES MULTI TAMBANGJAYA - INSIDER STORIES
 Insider Stories reported that, PT Indika Energy Tbk (INDY) announced that wholly-owned subsidiaries have signed a conditional sale and purchase agreements to acquire, together with a co-venturer, 100% stake of PT Multi Tambangjaya Utama (MTU) as well as its coal distribution rights for a combined indicative purchase price of approximately US$132 million.
Indika bought the assets, excluding the MTU's outstanding debt, via its subsidiaries dubbed PT Indika Indonesia Resources and Indika Capital Pte Ltd. Upon closing, Indika Resources and Indika Capital will hold a majority stake of 85% in this venture.
“This acquisition will increase Indika Energy’s coal reserves & resources and future production, and more importantly is in line with our strategy to strengthen further the group’s energy value chain,“ said Arsjad Rasjid, Co-CEO Indika Energy in a press statement.
MTU is a bituminous thermal coal (6,500 to 7,200 Kcal/kg on adb basis) and coking coal (7,800 kcal/kg on adb basis) mining company based in Central Kalimantan holding a CCoW third generation expiring in 2039 covering approximately 24,970 hectares concession.
Independent party analysis of the coal deposit on 10 blocks, based on USGS standard, indicates 75.2 million tons resource and 40.6 million tons mineable reserve of high quality thermal and coking coal. Further plans for comprehensive drilling and detailed exploration of the concession area are in place to reconfirm the reserve base.
Who is Multi Tambangjaya?
Founded in 1989, Multi Tambangjaya is based in Jakarta and has a project area in Central Kalimantan, Indonesia. MTU has established in situ resources of bituminous coal and a track record of exploration success in the Barito basins. MTU has been awarded a concession of nearly 25,000 hectares by the government of the Republic of Indonesia.
MTU was acquired in 2007 by Asia Thai Mining, a global company operating in coal business through Asia. Since then, MTU has rapidly grown to become a recognized coal producer, its maximum capacity will reach 4.8 million tons per year at its final stage; mainly steam coal.
MTU became a fully fledged mining company by acquiring underdeveloped properties in established basins and has improved its logistic by building its own road and port. MTU believes that its demonstrated operational and technical expertise, combined with its excellent reputation and strong community relationships throughout Indonesia, make it well positioned to continue to grow its reserves and production.
As at May 31, 2010, MTU had 300 employees, whom mostly were Indonesian. MTU creates employment and business opportunities for local people, particularly in remote locations where there are few other opportunities for economic development, and ensures that skills, know-how and technology are transferred to Indonesian nationals.
MTU production has been delegated to local contractor PT Thailand Bara Pratama, a subsidiary of Italian-Thai development PCL (ITD).
ITD is a global leading company fully supporting MTU through Asia Thai Mining Ltd. Strong of more than 30 years of experience in the mining industry and 50 years the construction business.
In 2000 ITD was awarded the 38 million tons coal mining project by the Electrical Generating Authority of Thailand (EGAT) for the Mae Moh Lignite Mine Phase 5 in Thailand. This was followed in 2002 with a 10 years contract for overburden removal and coal extraction.
Source: Insider Stories
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Friday, 28 June 24
INDIAN POWER STATIONS STOCKED WITH BUMPER COAL SUPPLY AS TRANSPORT WOES EASE - BUSINESS STANDARD
Even as power demand has touched a historic high of 250 gigawatts (Gw) amid sweltering heat this June, India’s power stations are stocked wit ...
Friday, 28 June 24
INDIA'S CY23 COAL USE LARGER THAN NORTH AMERICA, EUROPE COMBINED - THE HINDU
For the first time, India’s coal consumption surpassed that of North America and Europe combined in the calendar year 2023, said Energy Insti ...
Monday, 24 June 24
PLN'S FINANCIAL SUSTAINABILITY RESTS ON ACCELERATED COAL RETIREMENT AND RENEWABLES DEPLOYMENT - MUTYA YUSTIKA
On 28 May 2024, Indonesia’s national electricity utility, PT Perusahaan Listrik Negara (PLN), released its financial report for 2023. Althoug ...
Monday, 24 June 24
INDIA'S COAL-BASED POWER DEMAND AT ALL-TIME HIGH, GOVERNMENT SAYS - REUTERS
India’s demand for coal-based power has risen by 7.3% this fiscal year to an all-time high, the government said in a statement on Wednesday.
...
Monday, 24 June 24
CHINA'S COAL INDUSTRY TURNS GREENER THROUGH INNOVATIVE APPROACHES - PEOPLE'S DAILY
At an opencast mine operated by Inner Mongolia Pingzhuang Coal Group Co. Ltd., a subsidiary of CHN Energy Investment Group (CHN Energy), a 14-meter ...
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Showing 11 to 15 news of total 6871 |
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- Bharathi Cement Corporation - India
- The State Trading Corporation of India Ltd
- Cement Manufacturers Association - India
- Directorate Of Revenue Intelligence - India
- SN Aboitiz Power Inc, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Energy Link Ltd, New Zealand
- PowerSource Philippines DevCo
- Bukit Asam (Persero) Tbk - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Thiess Contractors Indonesia
- Agrawal Coal Company - India
- Georgia Ports Authority, United States
- International Coal Ventures Pvt Ltd - India
- Port Waratah Coal Services - Australia
- Sical Logistics Limited - India
- Billiton Holdings Pty Ltd - Australia
- SMG Consultants - Indonesia
- Carbofer General Trading SA - India
- Eastern Coal Council - USA
- Oldendorff Carriers - Singapore
- Kapuas Tunggal Persada - Indonesia
- Parliament of New Zealand
- Kaltim Prima Coal - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Eastern Energy - Thailand
- Posco Energy - South Korea
- Samtan Co., Ltd - South Korea
- Barasentosa Lestari - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Anglo American - United Kingdom
- CNBM International Corporation - China
- LBH Netherlands Bv - Netherlands
- Aditya Birla Group - India
- Directorate General of MIneral and Coal - Indonesia
- Timah Investasi Mineral - Indoneisa
- Alfred C Toepfer International GmbH - Germany
- Sarangani Energy Corporation, Philippines
- Tamil Nadu electricity Board
- Karaikal Port Pvt Ltd - India
- Thai Mozambique Logistica
- Kumho Petrochemical, South Korea
- Power Finance Corporation Ltd., India
- South Luzon Thermal Energy Corporation
- Meenaskhi Energy Private Limited - India
- The University of Queensland
- Attock Cement Pakistan Limited
- Banpu Public Company Limited - Thailand
- IHS Mccloskey Coal Group - USA
- Savvy Resources Ltd - HongKong
- Rashtriya Ispat Nigam Limited - India
- Gujarat Electricity Regulatory Commission - India
- Altura Mining Limited, Indonesia
- ICICI Bank Limited - India
- Coal and Oil Company - UAE
- European Bulk Services B.V. - Netherlands
- London Commodity Brokers - England
- Electricity Generating Authority of Thailand
- Mercator Lines Limited - India
- Singapore Mercantile Exchange
- Edison Trading Spa - Italy
- Coastal Gujarat Power Limited - India
- MS Steel International - UAE
- Petron Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- Borneo Indobara - Indonesia
- Jindal Steel & Power Ltd - India
- Indian Oil Corporation Limited
- Iligan Light & Power Inc, Philippines
- Sakthi Sugars Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- India Bulls Power Limited - India
- Manunggal Multi Energi - Indonesia
- The Treasury - Australian Government
- Kideco Jaya Agung - Indonesia
- Toyota Tsusho Corporation, Japan
- Planning Commission, India
- Ceylon Electricity Board - Sri Lanka
- Ministry of Finance - Indonesia
- Indogreen Group - Indonesia
- Videocon Industries ltd - India
- Sindya Power Generating Company Private Ltd
- Sojitz Corporation - Japan
- Miang Besar Coal Terminal - Indonesia
- Madhucon Powers Ltd - India
- Romanian Commodities Exchange
- Straits Asia Resources Limited - Singapore
- AsiaOL BioFuels Corp., Philippines
- Orica Mining Services - Indonesia
- Wood Mackenzie - Singapore
- Bukit Makmur.PT - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Mercuria Energy - Indonesia
- Africa Commodities Group - South Africa
- Indo Tambangraya Megah - Indonesia
- Kartika Selabumi Mining - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Renaissance Capital - South Africa
- SMC Global Power, Philippines
- McConnell Dowell - Australia
- Orica Australia Pty. Ltd.
- Krishnapatnam Port Company Ltd. - India
- Minerals Council of Australia
- Economic Council, Georgia
- OPG Power Generation Pvt Ltd - India
- Malabar Cements Ltd - India
- Bulk Trading Sa - Switzerland
- Merrill Lynch Commodities Europe
- PNOC Exploration Corporation - Philippines
- Therma Luzon, Inc, Philippines
- GMR Energy Limited - India
- Kepco SPC Power Corporation, Philippines
- Bhatia International Limited - India
- VISA Power Limited - India
- CIMB Investment Bank - Malaysia
- Deloitte Consulting - India
- Karbindo Abesyapradhi - Indoneisa
- New Zealand Coal & Carbon
- Jaiprakash Power Ventures ltd
- Makarim & Taira - Indonesia
- Pendopo Energi Batubara - Indonesia
- Australian Coal Association
- Electricity Authority, New Zealand
- Price Waterhouse Coopers - Russia
- White Energy Company Limited
- Indian Energy Exchange, India
- Mjunction Services Limited - India
- Antam Resourcindo - Indonesia
- Commonwealth Bank - Australia
- GVK Power & Infra Limited - India
- Simpson Spence & Young - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Sree Jayajothi Cements Limited - India
- Energy Development Corp, Philippines
- Tata Chemicals Ltd - India
- Latin American Coal - Colombia
- Salva Resources Pvt Ltd - India
- Riau Bara Harum - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Semirara Mining and Power Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- GAC Shipping (India) Pvt Ltd
- Chettinad Cement Corporation Ltd - India
- Dalmia Cement Bharat India
- Pipit Mutiara Jaya. PT, Indonesia
- Semirara Mining Corp, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Indika Energy - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Essar Steel Hazira Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Ministry of Transport, Egypt
- Trasteel International SA, Italy
- Cigading International Bulk Terminal - Indonesia
- Ambuja Cements Ltd - India
- Binh Thuan Hamico - Vietnam
- Central Java Power - Indonesia
- Baramulti Group, Indonesia
- Xindia Steels Limited - India
- Coalindo Energy - Indonesia
- Vedanta Resources Plc - India
- Lanco Infratech Ltd - India
- Intertek Mineral Services - Indonesia
- Formosa Plastics Group - Taiwan
- Independent Power Producers Association of India
- Global Green Power PLC Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Ind-Barath Power Infra Limited - India
- Central Electricity Authority - India
- Gujarat Sidhee Cement - India
- Vizag Seaport Private Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Siam City Cement PLC, Thailand
- Ministry of Mines - Canada
- Global Coal Blending Company Limited - Australia
- Marubeni Corporation - India
- Maheswari Brothers Coal Limited - India
- Uttam Galva Steels Limited - India
- Goldman Sachs - Singapore
- Standard Chartered Bank - UAE
- Rio Tinto Coal - Australia
- Maharashtra Electricity Regulatory Commission - India
- ASAPP Information Group - India
- Bangladesh Power Developement Board
- Grasim Industreis Ltd - India
- Larsen & Toubro Limited - India
- Bayan Resources Tbk. - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Siam City Cement - Thailand
- PTC India Limited - India
- Global Business Power Corporation, Philippines
- Mintek Dendrill Indonesia
- Bukit Baiduri Energy - Indonesia
- Globalindo Alam Lestari - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Kohat Cement Company Ltd. - Pakistan
- Australian Commodity Traders Exchange
- Parry Sugars Refinery, India
- Interocean Group of Companies - India
- Bhoruka Overseas - Indonesia
- San Jose City I Power Corp, Philippines
- Medco Energi Mining Internasional
- Wilmar Investment Holdings
- Indonesian Coal Mining Association
- Bank of Tokyo Mitsubishi UFJ Ltd
- IEA Clean Coal Centre - UK
- Meralco Power Generation, Philippines
- Bhushan Steel Limited - India
- Chamber of Mines of South Africa
- Metalloyd Limited - United Kingdom
- Heidelberg Cement - Germany
- Holcim Trading Pte Ltd - Singapore
- TeaM Sual Corporation - Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Star Paper Mills Limited - India
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