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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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Monday, 24 June 24
PHILIPPINES COAL SUPPLY ENOUGH UNTIL 2030 - PHILSTAR GLOBAL
The country’s existing coal-fired power plants are sufficient to ensure enough base load capacity in the next six years, Energy Secretary Rap ...
Friday, 14 June 24
NEXTDECADE, SAUDI ARAMCO SIGN 20-YEAR LNG SUPPLY DEAL - REUTERS
U.S. liquefied natural gas (LNG) provider NextDecade has signed a non-binding agreement with Saudi Aramco 2222.SE to supply 1.2 million tonnes per ...
Friday, 14 June 24
NEWBUILDING PRICES CLIMB 3% TO HIGHEST LEVEL IN 16 YEARS - NIELS RASMUSSEN
“Since the start of the year, newbuilding prices have risen 3% to their highest level since 2008. Compared to their most recent low in late 2 ...
Friday, 14 June 24
INDIA TARGETS HIGHER DOMESTIC COAL PRODUCTION, REDUCED IMPORTS: GOVT - REUTERS
India wants to reduce coal imports and increase domestic production, federal coal minister G. Kishan Reddy said on Thursday.
The cou ...
Thursday, 13 June 24
US LNG TO ASIA FOR POWER GENERATION EXPECTED TO CUT EMISSIONS VERSUS COAL - RYSTAD ENERGY
The value-chain emissions of liquified natural gas (LNG) are lower on average than for coal-fired power generation, even when the fuel is shipp ...
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- Marubeni Corporation - India
- Posco Energy - South Korea
- Latin American Coal - Colombia
- Mintek Dendrill Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Parry Sugars Refinery, India
- Binh Thuan Hamico - Vietnam
- Cement Manufacturers Association - India
- Aboitiz Power Corporation - Philippines
- Videocon Industries ltd - India
- Independent Power Producers Association of India
- Globalindo Alam Lestari - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Kartika Selabumi Mining - Indonesia
- Rio Tinto Coal - Australia
- Maharashtra Electricity Regulatory Commission - India
- Maheswari Brothers Coal Limited - India
- Xindia Steels Limited - India
- Minerals Council of Australia
- SN Aboitiz Power Inc, Philippines
- Bukit Baiduri Energy - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Borneo Indobara - Indonesia
- OPG Power Generation Pvt Ltd - India
- Bharathi Cement Corporation - India
- Sree Jayajothi Cements Limited - India
- CNBM International Corporation - China
- Dalmia Cement Bharat India
- ICICI Bank Limited - India
- Sakthi Sugars Limited - India
- GAC Shipping (India) Pvt Ltd
- Sindya Power Generating Company Private Ltd
- Coal and Oil Company - UAE
- Riau Bara Harum - Indonesia
- Grasim Industreis Ltd - India
- Indonesian Coal Mining Association
- Manunggal Multi Energi - Indonesia
- India Bulls Power Limited - India
- Altura Mining Limited, Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- LBH Netherlands Bv - Netherlands
- Global Business Power Corporation, Philippines
- GMR Energy Limited - India
- Larsen & Toubro Limited - India
- Banpu Public Company Limited - Thailand
- Wood Mackenzie - Singapore
- Power Finance Corporation Ltd., India
- Ministry of Finance - Indonesia
- Thiess Contractors Indonesia
- Karaikal Port Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Meralco Power Generation, Philippines
- Uttam Galva Steels Limited - India
- Planning Commission, India
- Holcim Trading Pte Ltd - Singapore
- Essar Steel Hazira Ltd - India
- Ministry of Mines - Canada
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Central Electricity Authority - India
- Chamber of Mines of South Africa
- Bahari Cakrawala Sebuku - Indonesia
- Deloitte Consulting - India
- Siam City Cement PLC, Thailand
- Barasentosa Lestari - Indonesia
- Directorate Of Revenue Intelligence - India
- Thai Mozambique Logistica
- Sojitz Corporation - Japan
- Tamil Nadu electricity Board
- Sical Logistics Limited - India
- Economic Council, Georgia
- Kobexindo Tractors - Indoneisa
- Indika Energy - Indonesia
- Parliament of New Zealand
- Kepco SPC Power Corporation, Philippines
- Baramulti Group, Indonesia
- Karbindo Abesyapradhi - Indoneisa
- PNOC Exploration Corporation - Philippines
- Asmin Koalindo Tuhup - Indonesia
- Sinarmas Energy and Mining - Indonesia
- MS Steel International - UAE
- Energy Development Corp, Philippines
- Antam Resourcindo - Indonesia
- Savvy Resources Ltd - HongKong
- Australian Commodity Traders Exchange
- Jindal Steel & Power Ltd - India
- Metalloyd Limited - United Kingdom
- Semirara Mining and Power Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Ambuja Cements Ltd - India
- Ceylon Electricity Board - Sri Lanka
- London Commodity Brokers - England
- Kohat Cement Company Ltd. - Pakistan
- Alfred C Toepfer International GmbH - Germany
- Toyota Tsusho Corporation, Japan
- TeaM Sual Corporation - Philippines
- Krishnapatnam Port Company Ltd. - India
- Mjunction Services Limited - India
- Merrill Lynch Commodities Europe
- Star Paper Mills Limited - India
- GN Power Mariveles Coal Plant, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Coastal Gujarat Power Limited - India
- Standard Chartered Bank - UAE
- Mercuria Energy - Indonesia
- PTC India Limited - India
- IHS Mccloskey Coal Group - USA
- Indo Tambangraya Megah - Indonesia
- The State Trading Corporation of India Ltd
- IEA Clean Coal Centre - UK
- Aditya Birla Group - India
- Jaiprakash Power Ventures ltd
- Cigading International Bulk Terminal - Indonesia
- Carbofer General Trading SA - India
- Pendopo Energi Batubara - Indonesia
- Heidelberg Cement - Germany
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Directorate General of MIneral and Coal - Indonesia
- Energy Link Ltd, New Zealand
- Eastern Energy - Thailand
- McConnell Dowell - Australia
- Commonwealth Bank - Australia
- Bukit Makmur.PT - Indonesia
- New Zealand Coal & Carbon
- Vedanta Resources Plc - India
- Interocean Group of Companies - India
- Bulk Trading Sa - Switzerland
- Ministry of Transport, Egypt
- Intertek Mineral Services - Indonesia
- Georgia Ports Authority, United States
- Madhucon Powers Ltd - India
- Port Waratah Coal Services - Australia
- GVK Power & Infra Limited - India
- VISA Power Limited - India
- Medco Energi Mining Internasional
- White Energy Company Limited
- Kapuas Tunggal Persada - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Electricity Generating Authority of Thailand
- Bangladesh Power Developement Board
- San Jose City I Power Corp, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Bhushan Steel Limited - India
- Timah Investasi Mineral - Indoneisa
- Vijayanagar Sugar Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- Lanco Infratech Ltd - India
- Central Java Power - Indonesia
- Orica Australia Pty. Ltd.
- Mercator Lines Limited - India
- Meenaskhi Energy Private Limited - India
- Bhatia International Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- European Bulk Services B.V. - Netherlands
- Africa Commodities Group - South Africa
- Formosa Plastics Group - Taiwan
- Gujarat Mineral Development Corp Ltd - India
- Australian Coal Association
- Orica Mining Services - Indonesia
- Iligan Light & Power Inc, Philippines
- The Treasury - Australian Government
- Therma Luzon, Inc, Philippines
- SMG Consultants - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kideco Jaya Agung - Indonesia
- Simpson Spence & Young - Indonesia
- Indogreen Group - Indonesia
- Billiton Holdings Pty Ltd - Australia
- SMC Global Power, Philippines
- Goldman Sachs - Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- Anglo American - United Kingdom
- Vizag Seaport Private Limited - India
- Singapore Mercantile Exchange
- Trasteel International SA, Italy
- Semirara Mining Corp, Philippines
- International Coal Ventures Pvt Ltd - India
- Edison Trading Spa - Italy
- Indian Oil Corporation Limited
- Makarim & Taira - Indonesia
- Wilmar Investment Holdings
- Global Coal Blending Company Limited - Australia
- ASAPP Information Group - India
- Tata Chemicals Ltd - India
- Price Waterhouse Coopers - Russia
- Coalindo Energy - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Bayan Resources Tbk. - Indonesia
- Global Green Power PLC Corporation, Philippines
- Sarangani Energy Corporation, Philippines
- Samtan Co., Ltd - South Korea
- PowerSource Philippines DevCo
- Miang Besar Coal Terminal - Indonesia
- Gujarat Sidhee Cement - India
- Chettinad Cement Corporation Ltd - India
- Agrawal Coal Company - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Attock Cement Pakistan Limited
- Petron Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- Salva Resources Pvt Ltd - India
- Romanian Commodities Exchange
- Bhoruka Overseas - Indonesia
- The University of Queensland
- Kaltim Prima Coal - Indonesia
- Malabar Cements Ltd - India
- Ind-Barath Power Infra Limited - India
- CIMB Investment Bank - Malaysia
- Kumho Petrochemical, South Korea
- Eastern Coal Council - USA
- Renaissance Capital - South Africa
- Indian Energy Exchange, India
- Siam City Cement - Thailand
- AsiaOL BioFuels Corp., Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Electricity Authority, New Zealand
- Oldendorff Carriers - Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
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