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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, 02 November 11
MMTC TO BUY 3.73 MILLION TONS OF COAL FOR 2011- 2013
COALspot.com - India’s state-owned coal and mineral trader MMTC looking for 3.73 million tons of power plant coal for the period 2011 - 2012/ ...
Wednesday, 02 November 11
PANAMAX MARKET BECAME QUIETER AFTER THE RECENT RECOVERY - BRS
There were substantial losses across the board this week: the BDI lost 6.3% to end at 2,018 and the BCI 8.2% to end 3,274. In the smaller sizes the ...
Tuesday, 01 November 11
BORNEO LUMBUNG BUYS 23.8% INTEREST IN BUMI
COALspot.com - PT. Borneo Lumbung Energi (BORN), an Indonesian coking coal producer announces that it has signed a sale and purchase agreement, cond ...
Tuesday, 01 November 11
BAKRIE FORMS STRATEGIC PARTNERSHIP WITH BORNEO - REDUCING DEBT BY USD 1 BILLION
Press Release - Enhancing the standing of “Indonesia Inc.” at the London Stock Exchange PT Bakrie & Brothers Tbk (“BNBR” ...
Tuesday, 01 November 11
ATLAS RESOURCES SETS IPO AT RP1,500 - INSIDER STORIES
Insider Stories reported that, coal miner PT Atlas Resources Tbk has set its initial public offering (IPO) at Rp1,500 (approximately US$ 0.169) per ...
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- PowerSource Philippines DevCo
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- Medco Energi Mining Internasional
- ICICI Bank Limited - India
- Australian Commodity Traders Exchange
- VISA Power Limited - India
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- Electricity Generating Authority of Thailand
- Edison Trading Spa - Italy
- Videocon Industries ltd - India
- Altura Mining Limited, Indonesia
- Savvy Resources Ltd - HongKong
- Romanian Commodities Exchange
- Bhatia International Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Anglo American - United Kingdom
- Agrawal Coal Company - India
- IEA Clean Coal Centre - UK
- Kobexindo Tractors - Indoneisa
- Sree Jayajothi Cements Limited - India
- Georgia Ports Authority, United States
- White Energy Company Limited
- Standard Chartered Bank - UAE
- TeaM Sual Corporation - Philippines
- Indian Energy Exchange, India
- Mjunction Services Limited - India
- Larsen & Toubro Limited - India
- Kartika Selabumi Mining - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Manunggal Multi Energi - Indonesia
- Simpson Spence & Young - Indonesia
- Lanco Infratech Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Sinarmas Energy and Mining - Indonesia
- The Treasury - Australian Government
- Bangladesh Power Developement Board
- London Commodity Brokers - England
- OPG Power Generation Pvt Ltd - India
- Heidelberg Cement - Germany
- Central Java Power - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- South Luzon Thermal Energy Corporation
- ASAPP Information Group - India
- Bukit Baiduri Energy - Indonesia
- Indian Oil Corporation Limited
- Thiess Contractors Indonesia
- Cement Manufacturers Association - India
- Vijayanagar Sugar Pvt Ltd - India
- Renaissance Capital - South Africa
- Australian Coal Association
- Ministry of Transport, Egypt
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ministry of Mines - Canada
- Pendopo Energi Batubara - Indonesia
- MS Steel International - UAE
- LBH Netherlands Bv - Netherlands
- Star Paper Mills Limited - India
- Dalmia Cement Bharat India
- GAC Shipping (India) Pvt Ltd
- Baramulti Group, Indonesia
- Petron Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- The University of Queensland
- Gujarat Mineral Development Corp Ltd - India
- San Jose City I Power Corp, Philippines
- Bhushan Steel Limited - India
- Jaiprakash Power Ventures ltd
- Bhoruka Overseas - Indonesia
- Sarangani Energy Corporation, Philippines
- Independent Power Producers Association of India
- European Bulk Services B.V. - Netherlands
- Uttam Galva Steels Limited - India
- Rashtriya Ispat Nigam Limited - India
- Global Coal Blending Company Limited - Australia
- PTC India Limited - India
- Energy Development Corp, Philippines
- Siam City Cement - Thailand
- Billiton Holdings Pty Ltd - Australia
- GMR Energy Limited - India
- Madhucon Powers Ltd - India
- Mercator Lines Limited - India
- Semirara Mining and Power Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- SMG Consultants - Indonesia
- Jindal Steel & Power Ltd - India
- Indonesian Coal Mining Association
- Posco Energy - South Korea
- Marubeni Corporation - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ambuja Cements Ltd - India
- Salva Resources Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Merrill Lynch Commodities Europe
- Vedanta Resources Plc - India
- Wood Mackenzie - Singapore
- Aditya Birla Group - India
- Maharashtra Electricity Regulatory Commission - India
- Sical Logistics Limited - India
- Parliament of New Zealand
- Sindya Power Generating Company Private Ltd
- Tata Chemicals Ltd - India
- GVK Power & Infra Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sojitz Corporation - Japan
- Bulk Trading Sa - Switzerland
- Essar Steel Hazira Ltd - India
- Sakthi Sugars Limited - India
- Energy Link Ltd, New Zealand
- Interocean Group of Companies - India
- International Coal Ventures Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- SMC Global Power, Philippines
- Malabar Cements Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Riau Bara Harum - Indonesia
- Attock Cement Pakistan Limited
- Iligan Light & Power Inc, Philippines
- The State Trading Corporation of India Ltd
- Karbindo Abesyapradhi - Indoneisa
- Coastal Gujarat Power Limited - India
- Commonwealth Bank - Australia
- Meralco Power Generation, Philippines
- Aboitiz Power Corporation - Philippines
- Indo Tambangraya Megah - Indonesia
- Borneo Indobara - Indonesia
- Metalloyd Limited - United Kingdom
- Kepco SPC Power Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Maheswari Brothers Coal Limited - India
- Central Electricity Authority - India
- CIMB Investment Bank - Malaysia
- Electricity Authority, New Zealand
- Economic Council, Georgia
- Bahari Cakrawala Sebuku - Indonesia
- PNOC Exploration Corporation - Philippines
- Latin American Coal - Colombia
- SN Aboitiz Power Inc, Philippines
- IHS Mccloskey Coal Group - USA
- Wilmar Investment Holdings
- Makarim & Taira - Indonesia
- Bharathi Cement Corporation - India
- Africa Commodities Group - South Africa
- Power Finance Corporation Ltd., India
- Toyota Tsusho Corporation, Japan
- Thai Mozambique Logistica
- Chettinad Cement Corporation Ltd - India
- Samtan Co., Ltd - South Korea
- Xindia Steels Limited - India
- Mercuria Energy - Indonesia
- Deloitte Consulting - India
- Carbofer General Trading SA - India
- Singapore Mercantile Exchange
- Alfred C Toepfer International GmbH - Germany
- Bayan Resources Tbk. - Indonesia
- Orica Australia Pty. Ltd.
- Coal and Oil Company - UAE
- Trasteel International SA, Italy
- AsiaOL BioFuels Corp., Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Holcim Trading Pte Ltd - Singapore
- Mintek Dendrill Indonesia
- Cigading International Bulk Terminal - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indogreen Group - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Port Waratah Coal Services - Australia
- India Bulls Power Limited - India
- Orica Mining Services - Indonesia
- New Zealand Coal & Carbon
- CNBM International Corporation - China
- Jorong Barutama Greston.PT - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Global Green Power PLC Corporation, Philippines
- Gujarat Sidhee Cement - India
- Meenaskhi Energy Private Limited - India
- Kaltim Prima Coal - Indonesia
- Kideco Jaya Agung - Indonesia
- Chamber of Mines of South Africa
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- Bukit Asam (Persero) Tbk - Indonesia
- Minerals Council of Australia
- Global Business Power Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Straits Asia Resources Limited - Singapore
- Grasim Industreis Ltd - India
- Tamil Nadu electricity Board
- Semirara Mining Corp, Philippines
- Miang Besar Coal Terminal - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Ministry of Finance - Indonesia
- Planning Commission, India
- Intertek Mineral Services - Indonesia
- Indika Energy - Indonesia
- Parry Sugars Refinery, India
- Directorate Of Revenue Intelligence - India
- Globalindo Alam Lestari - Indonesia
- Rio Tinto Coal - Australia
- Formosa Plastics Group - Taiwan
- Ceylon Electricity Board - Sri Lanka
- Barasentosa Lestari - Indonesia
- Eastern Coal Council - USA
- Price Waterhouse Coopers - Russia
- Ind-Barath Power Infra Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Coalindo Energy - Indonesia
- Banpu Public Company Limited - Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Eastern Energy - Thailand
- McConnell Dowell - Australia
- Goldman Sachs - Singapore
- Vizag Seaport Private Limited - India
- Kumho Petrochemical, South Korea
- Binh Thuan Hamico - Vietnam
- Oldendorff Carriers - Singapore
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