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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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Thursday, 27 October 11
CAPESIZE REACHING NEW HIGHS - FEARNLEYS
Handy
Pacific market has mixed sentiments with tonnages fixed at firm levels and some tonnages in feast failing on subs.For indo-india, large eco ...
Thursday, 27 October 11
DRY BULK MARKET EDGES DOWN AS CHINAS IRON ORE DEMAND LOSES GROUND - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
A plunge in Chinese iron ore demand, as a result of high steel inventories and a bleak outlook regarding steel prices, has prompted the dry bulk mar ...
Thursday, 27 October 11
BUKIT ASAM 3Q PROFIT SURGES 66.91%
Insider Stories reported that, the state-controlled coal miner PT Bukit Asam Tbk (PTBA) experienced a 66.91% increase in its net profit during a per ...
Wednesday, 26 October 11
MOODYS SEES MORE GROWTH FOR INDONESIAN COAL MINERS - THE JAKARTA GLOBE
The Jakarta Globe reported that, Indonesia’s coal mining industry looks set to grow despite an uncertain global economic outlook, according to ...
Wednesday, 26 October 11
PWCS GLOBAL SHIPPING BENCHMARKING ANALYSIS: RECOVERY IN 2010 BUT GREAT UNCERTAINLY FOR 2011
The recovery of global trade in 2010 to the same levels as 2008 led to an improvement in the overall performance of shipping companies in 2010 compa ...
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- Samtan Co., Ltd - South Korea
- Kideco Jaya Agung - Indonesia
- TeaM Sual Corporation - Philippines
- Coastal Gujarat Power Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Attock Cement Pakistan Limited
- Ind-Barath Power Infra Limited - India
- Electricity Generating Authority of Thailand
- Australian Coal Association
- Banpu Public Company Limited - Thailand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Jaiprakash Power Ventures ltd
- Parry Sugars Refinery, India
- Rashtriya Ispat Nigam Limited - India
- Gujarat Sidhee Cement - India
- The Treasury - Australian Government
- Videocon Industries ltd - India
- Larsen & Toubro Limited - India
- Madhucon Powers Ltd - India
- Makarim & Taira - Indonesia
- Singapore Mercantile Exchange
- Central Java Power - Indonesia
- Global Green Power PLC Corporation, Philippines
- Goldman Sachs - Singapore
- Posco Energy - South Korea
- Anglo American - United Kingdom
- Indika Energy - Indonesia
- Indonesian Coal Mining Association
- Australian Commodity Traders Exchange
- Barasentosa Lestari - Indonesia
- Ambuja Cements Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Standard Chartered Bank - UAE
- Parliament of New Zealand
- SN Aboitiz Power Inc, Philippines
- Georgia Ports Authority, United States
- Orica Australia Pty. Ltd.
- Commonwealth Bank - Australia
- Central Electricity Authority - India
- Ministry of Finance - Indonesia
- Lanco Infratech Ltd - India
- Salva Resources Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- Xindia Steels Limited - India
- Altura Mining Limited, Indonesia
- New Zealand Coal & Carbon
- Mjunction Services Limited - India
- Mintek Dendrill Indonesia
- Thiess Contractors Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Coalindo Energy - Indonesia
- Agrawal Coal Company - India
- Jorong Barutama Greston.PT - Indonesia
- The State Trading Corporation of India Ltd
- Wood Mackenzie - Singapore
- Energy Link Ltd, New Zealand
- Rio Tinto Coal - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Coal and Oil Company - UAE
- Mercuria Energy - Indonesia
- Dalmia Cement Bharat India
- Trasteel International SA, Italy
- Pendopo Energi Batubara - Indonesia
- Global Business Power Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- McConnell Dowell - Australia
- Oldendorff Carriers - Singapore
- Binh Thuan Hamico - Vietnam
- San Jose City I Power Corp, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Metalloyd Limited - United Kingdom
- Sarangani Energy Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- Essar Steel Hazira Ltd - India
- Eastern Energy - Thailand
- Star Paper Mills Limited - India
- Antam Resourcindo - Indonesia
- Interocean Group of Companies - India
- Straits Asia Resources Limited - Singapore
- Timah Investasi Mineral - Indoneisa
- Marubeni Corporation - India
- Aditya Birla Group - India
- Sree Jayajothi Cements Limited - India
- VISA Power Limited - India
- Grasim Industreis Ltd - India
- SMG Consultants - Indonesia
- Aboitiz Power Corporation - Philippines
- Chettinad Cement Corporation Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Port Waratah Coal Services - Australia
- Independent Power Producers Association of India
- Kartika Selabumi Mining - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Minerals Council of Australia
- International Coal Ventures Pvt Ltd - India
- Karaikal Port Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- Gujarat Electricity Regulatory Commission - India
- Pipit Mutiara Jaya. PT, Indonesia
- CNBM International Corporation - China
- AsiaOL BioFuels Corp., Philippines
- The University of Queensland
- Sojitz Corporation - Japan
- Ministry of Transport, Egypt
- Kalimantan Lumbung Energi - Indonesia
- Kobexindo Tractors - Indoneisa
- Sinarmas Energy and Mining - Indonesia
- IEA Clean Coal Centre - UK
- Mercator Lines Limited - India
- Renaissance Capital - South Africa
- Indo Tambangraya Megah - Indonesia
- White Energy Company Limited
- Formosa Plastics Group - Taiwan
- Leighton Contractors Pty Ltd - Australia
- Thai Mozambique Logistica
- Sical Logistics Limited - India
- Planning Commission, India
- Heidelberg Cement - Germany
- GMR Energy Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Riau Bara Harum - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Therma Luzon, Inc, Philippines
- Borneo Indobara - Indonesia
- MS Steel International - UAE
- Bank of Tokyo Mitsubishi UFJ Ltd
- Carbofer General Trading SA - India
- Edison Trading Spa - Italy
- Holcim Trading Pte Ltd - Singapore
- Jindal Steel & Power Ltd - India
- Bangladesh Power Developement Board
- PTC India Limited - India
- SMC Global Power, Philippines
- Intertek Mineral Services - Indonesia
- Energy Development Corp, Philippines
- Bharathi Cement Corporation - India
- South Luzon Thermal Energy Corporation
- Toyota Tsusho Corporation, Japan
- Petron Corporation, Philippines
- Indian Oil Corporation Limited
- OPG Power Generation Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- Economic Council, Georgia
- Romanian Commodities Exchange
- Electricity Authority, New Zealand
- Globalindo Alam Lestari - Indonesia
- Vedanta Resources Plc - India
- London Commodity Brokers - England
- Gujarat Mineral Development Corp Ltd - India
- Kaltim Prima Coal - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Bukit Makmur.PT - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Indian Energy Exchange, India
- Africa Commodities Group - South Africa
- Bahari Cakrawala Sebuku - Indonesia
- PowerSource Philippines DevCo
- Semirara Mining and Power Corporation, Philippines
- Kumho Petrochemical, South Korea
- Ceylon Electricity Board - Sri Lanka
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Uttam Galva Steels Limited - India
- Medco Energi Mining Internasional
- Alfred C Toepfer International GmbH - Germany
- Eastern Coal Council - USA
- GVK Power & Infra Limited - India
- Chamber of Mines of South Africa
- IHS Mccloskey Coal Group - USA
- Price Waterhouse Coopers - Russia
- Vijayanagar Sugar Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- Tamil Nadu electricity Board
- Siam City Cement - Thailand
- Semirara Mining Corp, Philippines
- Vizag Seaport Private Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Orica Mining Services - Indonesia
- Kepco SPC Power Corporation, Philippines
- Ministry of Mines - Canada
- Siam City Cement PLC, Thailand
- Meralco Power Generation, Philippines
- Power Finance Corporation Ltd., India
- Krishnapatnam Port Company Ltd. - India
- CIMB Investment Bank - Malaysia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Global Coal Blending Company Limited - Australia
- Savvy Resources Ltd - HongKong
- Baramulti Group, Indonesia
- Wilmar Investment Holdings
- Latin American Coal - Colombia
- ASAPP Information Group - India
- Maheswari Brothers Coal Limited - India
- Kapuas Tunggal Persada - Indonesia
- Bulk Trading Sa - Switzerland
- Sindya Power Generating Company Private Ltd
- Merrill Lynch Commodities Europe
- Meenaskhi Energy Private Limited - India
- India Bulls Power Limited - India
- Sakthi Sugars Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- Manunggal Multi Energi - Indonesia
- Malabar Cements Ltd - India
- Billiton Holdings Pty Ltd - Australia
- ICICI Bank Limited - India
- Tata Chemicals Ltd - India
- Bhushan Steel Limited - India
- Bhatia International Limited - India
- LBH Netherlands Bv - Netherlands
- Deloitte Consulting - India
- Cement Manufacturers Association - India
- Bhoruka Overseas - Indonesia
- Bukit Baiduri Energy - Indonesia
- Indogreen Group - Indonesia
- Directorate Of Revenue Intelligence - India
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