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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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Tuesday, 01 November 11
DRY BULK MARKETS CORRECTION SPILLS OVER ONTO NEW WEEK - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market is losing steam, as evidenced by the falls experienced last week, which were also apparent at the beginning of the new week. A l ...
Monday, 31 October 11
CHINAS HUNGER FOR INDONESIAN COAL AT THREE YEAR-HIGH AS WINTER NEARS - JOSEPH KIRSCHKE
COALspot.com - Chinese demand for power-station coal from Indonesia has soared to its highest level in three years, as central heating plants and po ...
Saturday, 29 October 11
ATLAS RESOURCES SEALS US$95 MIO LOAN - INSIDER STORIES
Insider Stories reported that, coal producer PT Atlas Resources Tbk, that is controlled by Indonesian businessman Andre Abdi, has secured US$95 mill ...
Saturday, 29 October 11
INDONESIA TO INDIA FREIGHT LIKELY TO REMAIN SOFT
COALspot.com - The market continued to slow down and all segment were down this week.
The biggest drop was in the Cape Index down by 8.19 pct&nbs ...
Friday, 28 October 11
RISING COAL PRICES TO WORSEN CHINA'S WINTER POWER CRUNCH - CRI ENGLISH
CRI English reported that, the rising price of coal is fueling concerns about a power crunch set to plague China this winter, analysts said.
The ...
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- Vedanta Resources Plc - India
- Sarangani Energy Corporation, Philippines
- Sakthi Sugars Limited - India
- Gujarat Electricity Regulatory Commission - India
- Bhoruka Overseas - Indonesia
- Oldendorff Carriers - Singapore
- Kepco SPC Power Corporation, Philippines
- Bhushan Steel Limited - India
- Directorate Of Revenue Intelligence - India
- Pendopo Energi Batubara - Indonesia
- Makarim & Taira - Indonesia
- Edison Trading Spa - Italy
- Carbofer General Trading SA - India
- Electricity Generating Authority of Thailand
- Coastal Gujarat Power Limited - India
- SN Aboitiz Power Inc, Philippines
- Straits Asia Resources Limited - Singapore
- Therma Luzon, Inc, Philippines
- Marubeni Corporation - India
- SMC Global Power, Philippines
- South Luzon Thermal Energy Corporation
- Iligan Light & Power Inc, Philippines
- Latin American Coal - Colombia
- Bahari Cakrawala Sebuku - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Larsen & Toubro Limited - India
- Globalindo Alam Lestari - Indonesia
- Mintek Dendrill Indonesia
- Formosa Plastics Group - Taiwan
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Central Java Power - Indonesia
- Jindal Steel & Power Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Minerals Council of Australia
- Karbindo Abesyapradhi - Indoneisa
- Sinarmas Energy and Mining - Indonesia
- Sindya Power Generating Company Private Ltd
- PTC India Limited - India
- Toyota Tsusho Corporation, Japan
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Port Waratah Coal Services - Australia
- ICICI Bank Limited - India
- Semirara Mining Corp, Philippines
- Anglo American - United Kingdom
- Wilmar Investment Holdings
- The University of Queensland
- Antam Resourcindo - Indonesia
- Jaiprakash Power Ventures ltd
- Romanian Commodities Exchange
- Alfred C Toepfer International GmbH - Germany
- Singapore Mercantile Exchange
- Grasim Industreis Ltd - India
- Economic Council, Georgia
- Georgia Ports Authority, United States
- Global Business Power Corporation, Philippines
- Australian Commodity Traders Exchange
- Chamber of Mines of South Africa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- PowerSource Philippines DevCo
- Kapuas Tunggal Persada - Indonesia
- Riau Bara Harum - Indonesia
- IEA Clean Coal Centre - UK
- Bharathi Cement Corporation - India
- Bukit Makmur.PT - Indonesia
- Simpson Spence & Young - Indonesia
- Malabar Cements Ltd - India
- Meenaskhi Energy Private Limited - India
- Ministry of Transport, Egypt
- Leighton Contractors Pty Ltd - Australia
- TeaM Sual Corporation - Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Samtan Co., Ltd - South Korea
- Miang Besar Coal Terminal - Indonesia
- Intertek Mineral Services - Indonesia
- Central Electricity Authority - India
- Australian Coal Association
- Africa Commodities Group - South Africa
- Planning Commission, India
- VISA Power Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Bhatia International Limited - India
- Baramulti Group, Indonesia
- Thiess Contractors Indonesia
- Rio Tinto Coal - Australia
- Wood Mackenzie - Singapore
- Kartika Selabumi Mining - Indonesia
- Orica Mining Services - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Holcim Trading Pte Ltd - Singapore
- Indian Energy Exchange, India
- Tamil Nadu electricity Board
- Krishnapatnam Port Company Ltd. - India
- Sojitz Corporation - Japan
- Gujarat Mineral Development Corp Ltd - India
- Cement Manufacturers Association - India
- Asmin Koalindo Tuhup - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Gujarat Sidhee Cement - India
- Borneo Indobara - Indonesia
- Siam City Cement - Thailand
- Savvy Resources Ltd - HongKong
- Xindia Steels Limited - India
- White Energy Company Limited
- Maharashtra Electricity Regulatory Commission - India
- Siam City Cement PLC, Thailand
- Petron Corporation, Philippines
- CNBM International Corporation - China
- Bukit Asam (Persero) Tbk - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Aboitiz Power Corporation - Philippines
- Agrawal Coal Company - India
- Kaltim Prima Coal - Indonesia
- Chettinad Cement Corporation Ltd - India
- Sical Logistics Limited - India
- Indo Tambangraya Megah - Indonesia
- Commonwealth Bank - Australia
- Interocean Group of Companies - India
- Jorong Barutama Greston.PT - Indonesia
- Kobexindo Tractors - Indoneisa
- Star Paper Mills Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Bangladesh Power Developement Board
- Lanco Infratech Ltd - India
- Indogreen Group - Indonesia
- Mjunction Services Limited - India
- Standard Chartered Bank - UAE
- Madhucon Powers Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Ambuja Cements Ltd - India
- Eastern Energy - Thailand
- Goldman Sachs - Singapore
- Ind-Barath Power Infra Limited - India
- OPG Power Generation Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- Indian Oil Corporation Limited
- Mercator Lines Limited - India
- Global Green Power PLC Corporation, Philippines
- India Bulls Power Limited - India
- The Treasury - Australian Government
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- New Zealand Coal & Carbon
- Neyveli Lignite Corporation Ltd, - India
- Eastern Coal Council - USA
- Electricity Authority, New Zealand
- Indika Energy - Indonesia
- The State Trading Corporation of India Ltd
- GMR Energy Limited - India
- Kumho Petrochemical, South Korea
- Videocon Industries ltd - India
- Bukit Baiduri Energy - Indonesia
- PNOC Exploration Corporation - Philippines
- Maheswari Brothers Coal Limited - India
- Renaissance Capital - South Africa
- AsiaOL BioFuels Corp., Philippines
- Billiton Holdings Pty Ltd - Australia
- GVK Power & Infra Limited - India
- Salva Resources Pvt Ltd - India
- Medco Energi Mining Internasional
- Indonesian Coal Mining Association
- TNB Fuel Sdn Bhd - Malaysia
- Attock Cement Pakistan Limited
- Energy Link Ltd, New Zealand
- Semirara Mining and Power Corporation, Philippines
- Dalmia Cement Bharat India
- Essar Steel Hazira Ltd - India
- Thai Mozambique Logistica
- London Commodity Brokers - England
- Independent Power Producers Association of India
- Aditya Birla Group - India
- Kideco Jaya Agung - Indonesia
- Parry Sugars Refinery, India
- Coal and Oil Company - UAE
- Tata Chemicals Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Uttam Galva Steels Limited - India
- Parliament of New Zealand
- Kalimantan Lumbung Energi - Indonesia
- Karaikal Port Pvt Ltd - India
- International Coal Ventures Pvt Ltd - India
- Heidelberg Cement - Germany
- IHS Mccloskey Coal Group - USA
- Ministry of Finance - Indonesia
- Bulk Trading Sa - Switzerland
- ASAPP Information Group - India
- Merrill Lynch Commodities Europe
- Posco Energy - South Korea
- Vizag Seaport Private Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- Trasteel International SA, Italy
- Banpu Public Company Limited - Thailand
- Power Finance Corporation Ltd., India
- CIMB Investment Bank - Malaysia
- Energy Development Corp, Philippines
- Sree Jayajothi Cements Limited - India
- SMG Consultants - Indonesia
- European Bulk Services B.V. - Netherlands
- MS Steel International - UAE
- Cigading International Bulk Terminal - Indonesia
- Barasentosa Lestari - Indonesia
- Deloitte Consulting - India
- GAC Shipping (India) Pvt Ltd
- Metalloyd Limited - United Kingdom
- Rashtriya Ispat Nigam Limited - India
- Mercuria Energy - Indonesia
- Orica Australia Pty. Ltd.
- Ministry of Mines - Canada
- LBH Netherlands Bv - Netherlands
- Binh Thuan Hamico - Vietnam
- Bayan Resources Tbk. - Indonesia
- Altura Mining Limited, Indonesia
- Price Waterhouse Coopers - Russia
- McConnell Dowell - Australia
- Global Coal Blending Company Limited - Australia
- Timah Investasi Mineral - Indoneisa
- Meralco Power Generation, Philippines
- Coalindo Energy - Indonesia
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