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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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Wednesday, 12 June 24
CHINA ACCOUNTS FOR 16.3% OF AUSTRALIA'S COAL EXPORTS, FOLLOWED BY INDIA 14.4% - BANCHERO COSTA
Global coal trade has really picked up pace in recent months, and is now fully back to pre-Covid levels says Banchero Costa in its latest report.
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Wednesday, 12 June 24
LNG NEWBUILDING VALUES AT RECORD HIGH: 78 NEWBUILD ORDERS PLACED IN 2024, DOUBLING 2023 - VESON NAUTICAL
The number of LNG newbuilding orders have more than doubled from the same period last year where 34 orders were placed, compared to 78 in the first ...
Monday, 10 June 24
CHINA'S MAY COAL IMPORTS RISE 11% ON LOWER DOMESTIC OUTPUT - REUTERS
China’s imports of coal rose 11% in May from a year earlier, customs data and Reuters records showed on Friday, as lower domestic output this ...
Tuesday, 04 June 24
HOW DO WESTERN SANCTIONS ON RUSSIA IMPACT THE GLOBAL METALS, MINING AND COAL MARKETS - WOOD MACKENZIE
The geopolitical landscape for Russia, as a major supplier of various commodities, has undergone a dramatic transformation since the invasion of Uk ...
Friday, 22 March 24
CASE STUDY: DANGERS OF COAL CARGO - SKULD
Recently, a bulk cargo vessel carrying coal from South Africa to Singapore suffered a fatal accident, resulting in the deaths of three crew members ...
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Showing 21 to 25 news of total 6871 |
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- The Treasury - Australian Government
- Thai Mozambique Logistica
- Australian Coal Association
- Marubeni Corporation - India
- Riau Bara Harum - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Ministry of Mines - Canada
- New Zealand Coal & Carbon
- Bayan Resources Tbk. - Indonesia
- GVK Power & Infra Limited - India
- Agrawal Coal Company - India
- India Bulls Power Limited - India
- Miang Besar Coal Terminal - Indonesia
- Salva Resources Pvt Ltd - India
- The State Trading Corporation of India Ltd
- Mercator Lines Limited - India
- Mjunction Services Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Chamber of Mines of South Africa
- Petron Corporation, Philippines
- Barasentosa Lestari - Indonesia
- ICICI Bank Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Goldman Sachs - Singapore
- Medco Energi Mining Internasional
- OPG Power Generation Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- TNB Fuel Sdn Bhd - Malaysia
- Commonwealth Bank - Australia
- Independent Power Producers Association of India
- Sree Jayajothi Cements Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kohat Cement Company Ltd. - Pakistan
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Singapore Mercantile Exchange
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Chettinad Cement Corporation Ltd - India
- Global Green Power PLC Corporation, Philippines
- Attock Cement Pakistan Limited
- Bangladesh Power Developement Board
- Edison Trading Spa - Italy
- Power Finance Corporation Ltd., India
- Timah Investasi Mineral - Indoneisa
- Posco Energy - South Korea
- Semirara Mining Corp, Philippines
- Minerals Council of Australia
- Essar Steel Hazira Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Tamil Nadu electricity Board
- Baramulti Group, Indonesia
- Semirara Mining and Power Corporation, Philippines
- Bhatia International Limited - India
- Grasim Industreis Ltd - India
- Indo Tambangraya Megah - Indonesia
- PNOC Exploration Corporation - Philippines
- Energy Development Corp, Philippines
- AsiaOL BioFuels Corp., Philippines
- Rio Tinto Coal - Australia
- Kumho Petrochemical, South Korea
- Siam City Cement PLC, Thailand
- Electricity Authority, New Zealand
- Maheswari Brothers Coal Limited - India
- Intertek Mineral Services - Indonesia
- Thiess Contractors Indonesia
- Karaikal Port Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Bhoruka Overseas - Indonesia
- Indika Energy - Indonesia
- Indogreen Group - Indonesia
- Sindya Power Generating Company Private Ltd
- Simpson Spence & Young - Indonesia
- Savvy Resources Ltd - HongKong
- Global Business Power Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Krishnapatnam Port Company Ltd. - India
- Sarangani Energy Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- Sinarmas Energy and Mining - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Vedanta Resources Plc - India
- Maharashtra Electricity Regulatory Commission - India
- Trasteel International SA, Italy
- Borneo Indobara - Indonesia
- Deloitte Consulting - India
- TeaM Sual Corporation - Philippines
- Kobexindo Tractors - Indoneisa
- McConnell Dowell - Australia
- Mintek Dendrill Indonesia
- Ambuja Cements Ltd - India
- Coastal Gujarat Power Limited - India
- Indian Oil Corporation Limited
- SMC Global Power, Philippines
- Gujarat Sidhee Cement - India
- Siam City Cement - Thailand
- Samtan Co., Ltd - South Korea
- Eastern Energy - Thailand
- Parry Sugars Refinery, India
- Xindia Steels Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Meralco Power Generation, Philippines
- Malabar Cements Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sakthi Sugars Limited - India
- Anglo American - United Kingdom
- Ceylon Electricity Board - Sri Lanka
- CIMB Investment Bank - Malaysia
- Star Paper Mills Limited - India
- San Jose City I Power Corp, Philippines
- Planning Commission, India
- Jaiprakash Power Ventures ltd
- Orica Australia Pty. Ltd.
- Metalloyd Limited - United Kingdom
- Price Waterhouse Coopers - Russia
- Manunggal Multi Energi - Indonesia
- Cement Manufacturers Association - India
- Indian Energy Exchange, India
- Kalimantan Lumbung Energi - Indonesia
- Sical Logistics Limited - India
- Pendopo Energi Batubara - Indonesia
- Coal and Oil Company - UAE
- Parliament of New Zealand
- Romanian Commodities Exchange
- Iligan Light & Power Inc, Philippines
- Aboitiz Power Corporation - Philippines
- Dalmia Cement Bharat India
- Kartika Selabumi Mining - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Bahari Cakrawala Sebuku - Indonesia
- Madhucon Powers Ltd - India
- Central Java Power - Indonesia
- Altura Mining Limited, Indonesia
- Jindal Steel & Power Ltd - India
- Kideco Jaya Agung - Indonesia
- Ministry of Transport, Egypt
- Interocean Group of Companies - India
- White Energy Company Limited
- Larsen & Toubro Limited - India
- Merrill Lynch Commodities Europe
- Aditya Birla Group - India
- Ind-Barath Power Infra Limited - India
- Eastern Coal Council - USA
- Bharathi Cement Corporation - India
- IHS Mccloskey Coal Group - USA
- Straits Asia Resources Limited - Singapore
- Makarim & Taira - Indonesia
- Bukit Makmur.PT - Indonesia
- MS Steel International - UAE
- Georgia Ports Authority, United States
- Wilmar Investment Holdings
- Wood Mackenzie - Singapore
- Bhushan Steel Limited - India
- Gujarat Electricity Regulatory Commission - India
- Oldendorff Carriers - Singapore
- Orica Mining Services - Indonesia
- London Commodity Brokers - England
- Bukit Asam (Persero) Tbk - Indonesia
- Formosa Plastics Group - Taiwan
- Videocon Industries ltd - India
- South Luzon Thermal Energy Corporation
- Tata Chemicals Ltd - India
- Kapuas Tunggal Persada - Indonesia
- European Bulk Services B.V. - Netherlands
- Bulk Trading Sa - Switzerland
- Electricity Generating Authority of Thailand
- Energy Link Ltd, New Zealand
- Indonesian Coal Mining Association
- GN Power Mariveles Coal Plant, Philippines
- Latin American Coal - Colombia
- Cigading International Bulk Terminal - Indonesia
- Kepco SPC Power Corporation, Philippines
- CNBM International Corporation - China
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ministry of Finance - Indonesia
- Australian Commodity Traders Exchange
- IEA Clean Coal Centre - UK
- Gujarat Mineral Development Corp Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Antam Resourcindo - Indonesia
- VISA Power Limited - India
- Vizag Seaport Private Limited - India
- Port Waratah Coal Services - Australia
- Kaltim Prima Coal - Indonesia
- Standard Chartered Bank - UAE
- PTC India Limited - India
- Carbofer General Trading SA - India
- International Coal Ventures Pvt Ltd - India
- PowerSource Philippines DevCo
- Heidelberg Cement - Germany
- SN Aboitiz Power Inc, Philippines
- Leighton Contractors Pty Ltd - Australia
- GMR Energy Limited - India
- Holcim Trading Pte Ltd - Singapore
- Toyota Tsusho Corporation, Japan
- Meenaskhi Energy Private Limited - India
- Rashtriya Ispat Nigam Limited - India
- Globalindo Alam Lestari - Indonesia
- LBH Netherlands Bv - Netherlands
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Coalindo Energy - Indonesia
- Uttam Galva Steels Limited - India
- Mercuria Energy - Indonesia
- Sojitz Corporation - Japan
- Renaissance Capital - South Africa
- Petrochimia International Co. Ltd.- Taiwan
- Therma Luzon, Inc, Philippines
- ASAPP Information Group - India
- Africa Commodities Group - South Africa
- Global Coal Blending Company Limited - Australia
- Billiton Holdings Pty Ltd - Australia
- SMG Consultants - Indonesia
- Economic Council, Georgia
- The University of Queensland
- Lanco Infratech Ltd - India
- GAC Shipping (India) Pvt Ltd
- Bukit Baiduri Energy - Indonesia
- Central Electricity Authority - India
- Directorate Of Revenue Intelligence - India
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