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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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Sunday, 23 October 11
CHINA LOOKING TO RESELL INDONESIAN COAL CARGOES - BARCLAYS
Commodity Online reported that, Anecdotal evidence has suggested that China is even looking to resell Indonesian cargoes back into the seaborne coal ...
Saturday, 22 October 11
THE SHORT-PERIOD RATES FOR PANAMAX REMAINED FIRM - CAPT. REDDY
COALspot.com - "The market seemed to slow down a bit this week, and all sectors were down by about One to five percent", said Capt. Reddy, ...
Saturday, 22 October 11
WILL THE PROPOSED 26 PERCENT PROFIT SHARING CLAUSE IN THE MINING BILL SPEED UP THE PRODUCTION OR SCARE AWAY INVESTORS? - DIPESH DIPU
A draft law has been approved by a ministerial panel headed by Finance Minister Pranab Mukherjee of India which, if passed by the Cabinet, will make ...
Saturday, 22 October 11
INDONESIA'S GOLDEN ENERGY SLASHES ITS IPO PRICE - THE JAKARTA GLOBE
The Jakarta Globe reported that, Golden Energy Mines, a coal mining company affiliated with Sinar Mas Group, lowered its target in an initial public ...
Thursday, 20 October 11
CAPESIZE - TUBARAO /QINGDAO BEING FIXED AT STRONG US$ 29.75 PMT
Handy
The Atlantic market is quite steady, and market seems to be around the same levels as last week. Fewer fixtures reported though. ...
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- Kaltim Prima Coal - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Eastern Energy - Thailand
- Sojitz Corporation - Japan
- Cigading International Bulk Terminal - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Bharathi Cement Corporation - India
- Binh Thuan Hamico - Vietnam
- Global Green Power PLC Corporation, Philippines
- Goldman Sachs - Singapore
- The University of Queensland
- Vizag Seaport Private Limited - India
- Lanco Infratech Ltd - India
- Oldendorff Carriers - Singapore
- Kapuas Tunggal Persada - Indonesia
- Siam City Cement - Thailand
- Kumho Petrochemical, South Korea
- Attock Cement Pakistan Limited
- Australian Commodity Traders Exchange
- PTC India Limited - India
- Kideco Jaya Agung - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Commonwealth Bank - Australia
- Borneo Indobara - Indonesia
- Wilmar Investment Holdings
- GVK Power & Infra Limited - India
- Jaiprakash Power Ventures ltd
- Coalindo Energy - Indonesia
- Georgia Ports Authority, United States
- Chettinad Cement Corporation Ltd - India
- Tamil Nadu electricity Board
- Bahari Cakrawala Sebuku - Indonesia
- Planning Commission, India
- Kobexindo Tractors - Indoneisa
- Gujarat Sidhee Cement - India
- TNB Fuel Sdn Bhd - Malaysia
- Alfred C Toepfer International GmbH - Germany
- Global Business Power Corporation, Philippines
- SMC Global Power, Philippines
- Ministry of Transport, Egypt
- Star Paper Mills Limited - India
- Directorate General of MIneral and Coal - Indonesia
- IEA Clean Coal Centre - UK
- Energy Link Ltd, New Zealand
- Therma Luzon, Inc, Philippines
- MS Steel International - UAE
- Anglo American - United Kingdom
- Altura Mining Limited, Indonesia
- IHS Mccloskey Coal Group - USA
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- San Jose City I Power Corp, Philippines
- Indo Tambangraya Megah - Indonesia
- Ministry of Finance - Indonesia
- Essar Steel Hazira Ltd - India
- Simpson Spence & Young - Indonesia
- Minerals Council of Australia
- Edison Trading Spa - Italy
- Salva Resources Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- Billiton Holdings Pty Ltd - Australia
- New Zealand Coal & Carbon
- ASAPP Information Group - India
- Manunggal Multi Energi - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- PNOC Exploration Corporation - Philippines
- Karaikal Port Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Karbindo Abesyapradhi - Indoneisa
- Deloitte Consulting - India
- Energy Development Corp, Philippines
- Uttam Galva Steels Limited - India
- Bhatia International Limited - India
- Leighton Contractors Pty Ltd - Australia
- McConnell Dowell - Australia
- Gujarat Electricity Regulatory Commission - India
- Kalimantan Lumbung Energi - Indonesia
- Sarangani Energy Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- Aditya Birla Group - India
- Trasteel International SA, Italy
- Straits Asia Resources Limited - Singapore
- Bulk Trading Sa - Switzerland
- Latin American Coal - Colombia
- Videocon Industries ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Directorate Of Revenue Intelligence - India
- Central Electricity Authority - India
- Parry Sugars Refinery, India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Riau Bara Harum - Indonesia
- Singapore Mercantile Exchange
- Carbofer General Trading SA - India
- Bhushan Steel Limited - India
- Indogreen Group - Indonesia
- Mercator Lines Limited - India
- Merrill Lynch Commodities Europe
- Parliament of New Zealand
- Bukit Baiduri Energy - Indonesia
- Semirara Mining Corp, Philippines
- Banpu Public Company Limited - Thailand
- Samtan Co., Ltd - South Korea
- Kepco SPC Power Corporation, Philippines
- Medco Energi Mining Internasional
- Aboitiz Power Corporation - Philippines
- Gujarat Mineral Development Corp Ltd - India
- White Energy Company Limited
- Bhoruka Overseas - Indonesia
- The Treasury - Australian Government
- Port Waratah Coal Services - Australia
- Savvy Resources Ltd - HongKong
- Sical Logistics Limited - India
- Price Waterhouse Coopers - Russia
- Orica Mining Services - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Toyota Tsusho Corporation, Japan
- Jorong Barutama Greston.PT - Indonesia
- Sindya Power Generating Company Private Ltd
- Romanian Commodities Exchange
- Sakthi Sugars Limited - India
- GAC Shipping (India) Pvt Ltd
- Tata Chemicals Ltd - India
- Dalmia Cement Bharat India
- Jindal Steel & Power Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Thiess Contractors Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Malabar Cements Ltd - India
- Cement Manufacturers Association - India
- Ambuja Cements Ltd - India
- PowerSource Philippines DevCo
- Holcim Trading Pte Ltd - Singapore
- European Bulk Services B.V. - Netherlands
- GMR Energy Limited - India
- Kartika Selabumi Mining - Indonesia
- Mjunction Services Limited - India
- Madhucon Powers Ltd - India
- Siam City Cement PLC, Thailand
- Bukit Makmur.PT - Indonesia
- Australian Coal Association
- CNBM International Corporation - China
- Vedanta Resources Plc - India
- The State Trading Corporation of India Ltd
- Iligan Light & Power Inc, Philippines
- Metalloyd Limited - United Kingdom
- Pipit Mutiara Jaya. PT, Indonesia
- Formosa Plastics Group - Taiwan
- Mintek Dendrill Indonesia
- London Commodity Brokers - England
- Grasim Industreis Ltd - India
- Baramulti Group, Indonesia
- Interocean Group of Companies - India
- Maheswari Brothers Coal Limited - India
- Mercuria Energy - Indonesia
- Orica Australia Pty. Ltd.
- SMG Consultants - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Timah Investasi Mineral - Indoneisa
- CIMB Investment Bank - Malaysia
- Marubeni Corporation - India
- Bangladesh Power Developement Board
- Thai Mozambique Logistica
- Coastal Gujarat Power Limited - India
- International Coal Ventures Pvt Ltd - India
- Coal and Oil Company - UAE
- Economic Council, Georgia
- Electricity Authority, New Zealand
- Posco Energy - South Korea
- Independent Power Producers Association of India
- SN Aboitiz Power Inc, Philippines
- Xindia Steels Limited - India
- ICICI Bank Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Central Java Power - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Larsen & Toubro Limited - India
- Indonesian Coal Mining Association
- VISA Power Limited - India
- Pendopo Energi Batubara - Indonesia
- Standard Chartered Bank - UAE
- Barasentosa Lestari - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Intertek Mineral Services - Indonesia
- Ministry of Mines - Canada
- Neyveli Lignite Corporation Ltd, - India
- South Luzon Thermal Energy Corporation
- Indian Energy Exchange, India
- Krishnapatnam Port Company Ltd. - India
- Wood Mackenzie - Singapore
- Bayan Resources Tbk. - Indonesia
- Meralco Power Generation, Philippines
- Agrawal Coal Company - India
- Chamber of Mines of South Africa
- Indian Oil Corporation Limited
- Petron Corporation, Philippines
- Electricity Generating Authority of Thailand
- Rashtriya Ispat Nigam Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Eastern Coal Council - USA
- Semirara Mining and Power Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- Makarim & Taira - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- LBH Netherlands Bv - Netherlands
- Sree Jayajothi Cements Limited - India
- Indika Energy - Indonesia
- India Bulls Power Limited - India
- AsiaOL BioFuels Corp., Philippines
- Miang Besar Coal Terminal - Indonesia
- Antam Resourcindo - Indonesia
- Renaissance Capital - South Africa
- Africa Commodities Group - South Africa
- Power Finance Corporation Ltd., India
- Global Coal Blending Company Limited - Australia
- OPG Power Generation Pvt Ltd - India
- Heidelberg Cement - Germany
- Rio Tinto Coal - Australia
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