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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, 20 October 11
BRACKEN INTERNATIONAL MINING LISTS ON FRANKFURT STOCK EXCHANGE
Press Release - Bracken International Mining (Code:1BM) listed on the Deutsche Börse’s Frankfurt Stock Exchange today at €1.00 with ...
Thursday, 20 October 11
CAPESIZES, SUPRAMAXES LEAD GAINS FOR DRY BULK MARKET - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Struggling to find additional support, but still managing to post gains, the dry bulk market has stabilized itself on higher levels again yesterday, ...
Wednesday, 19 October 11
METALLURGICAL COAL PRICES TO DROP BELOW US$240/TONNE - WOOD MACKENZIE
Wood Mackenzie Says Metallurgical Coal Prices to Drop Below US$240/tonne by Q4 2012 But Long-term Demand Fundamentals Remain Robust
Wood Mackenzi ...
Wednesday, 19 October 11
SUPRAMAX MARKET WAS VERY FIRM LAST WEEK - BRS
With all sectors contributing positively, the BDI ended the week at 2,173 points (+8.6%), its highest level so far in 2011. The BCI stood at 3,587 ( ...
Wednesday, 19 October 11
ADARO ACQUIRES BUKIT ENIM ENERGI - INSIDER STORIES
Insider Stories reported that, Coal miner PT Adaro Energy Tbk, via its subsidiary dubbed PT Alam Tri Abadi, today revealed a 46% stake takeover of a ...
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- Krishnapatnam Port Company Ltd. - India
- Central Electricity Authority - India
- Gujarat Electricity Regulatory Commission - India
- Indo Tambangraya Megah - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Uttam Galva Steels Limited - India
- OPG Power Generation Pvt Ltd - India
- Ministry of Mines - Canada
- Globalindo Alam Lestari - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Indian Oil Corporation Limited
- Petron Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- Essar Steel Hazira Ltd - India
- GVK Power & Infra Limited - India
- Tamil Nadu electricity Board
- Baramulti Group, Indonesia
- Indika Energy - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Kobexindo Tractors - Indoneisa
- Sinarmas Energy and Mining - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- Global Green Power PLC Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- Goldman Sachs - Singapore
- Vedanta Resources Plc - India
- Deloitte Consulting - India
- European Bulk Services B.V. - Netherlands
- Latin American Coal - Colombia
- LBH Netherlands Bv - Netherlands
- Renaissance Capital - South Africa
- Savvy Resources Ltd - HongKong
- Australian Coal Association
- Sakthi Sugars Limited - India
- Siam City Cement - Thailand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Electricity Generating Authority of Thailand
- Straits Asia Resources Limited - Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- Banpu Public Company Limited - Thailand
- Bulk Trading Sa - Switzerland
- Simpson Spence & Young - Indonesia
- Oldendorff Carriers - Singapore
- South Luzon Thermal Energy Corporation
- PetroVietnam Power Coal Import and Supply Company
- The University of Queensland
- Global Coal Blending Company Limited - Australia
- London Commodity Brokers - England
- Grasim Industreis Ltd - India
- Directorate Of Revenue Intelligence - India
- SMC Global Power, Philippines
- Port Waratah Coal Services - Australia
- Indonesian Coal Mining Association
- Star Paper Mills Limited - India
- The Treasury - Australian Government
- Commonwealth Bank - Australia
- Toyota Tsusho Corporation, Japan
- Larsen & Toubro Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Thiess Contractors Indonesia
- ICICI Bank Limited - India
- Medco Energi Mining Internasional
- VISA Power Limited - India
- Kaltim Prima Coal - Indonesia
- Heidelberg Cement - Germany
- Bharathi Cement Corporation - India
- Jaiprakash Power Ventures ltd
- Indogreen Group - Indonesia
- MS Steel International - UAE
- Miang Besar Coal Terminal - Indonesia
- Iligan Light & Power Inc, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kalimantan Lumbung Energi - Indonesia
- Orica Mining Services - Indonesia
- Maheswari Brothers Coal Limited - India
- Power Finance Corporation Ltd., India
- Carbofer General Trading SA - India
- Jorong Barutama Greston.PT - Indonesia
- Mjunction Services Limited - India
- Posco Energy - South Korea
- Edison Trading Spa - Italy
- Standard Chartered Bank - UAE
- Malabar Cements Ltd - India
- Ministry of Transport, Egypt
- Meenaskhi Energy Private Limited - India
- Anglo American - United Kingdom
- Holcim Trading Pte Ltd - Singapore
- Madhucon Powers Ltd - India
- Planning Commission, India
- Maharashtra Electricity Regulatory Commission - India
- IEA Clean Coal Centre - UK
- GN Power Mariveles Coal Plant, Philippines
- Borneo Indobara - Indonesia
- Tata Chemicals Ltd - India
- Binh Thuan Hamico - Vietnam
- PowerSource Philippines DevCo
- India Bulls Power Limited - India
- AsiaOL BioFuels Corp., Philippines
- Formosa Plastics Group - Taiwan
- Coalindo Energy - Indonesia
- Global Business Power Corporation, Philippines
- Indian Energy Exchange, India
- SMG Consultants - Indonesia
- Orica Australia Pty. Ltd.
- Singapore Mercantile Exchange
- McConnell Dowell - Australia
- Electricity Authority, New Zealand
- Jindal Steel & Power Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Makarim & Taira - Indonesia
- Karaikal Port Pvt Ltd - India
- The State Trading Corporation of India Ltd
- Kohat Cement Company Ltd. - Pakistan
- International Coal Ventures Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Wood Mackenzie - Singapore
- Mercuria Energy - Indonesia
- Videocon Industries ltd - India
- Sojitz Corporation - Japan
- Price Waterhouse Coopers - Russia
- Africa Commodities Group - South Africa
- Bukit Makmur.PT - Indonesia
- Thai Mozambique Logistica
- Eastern Coal Council - USA
- Sical Logistics Limited - India
- Sindya Power Generating Company Private Ltd
- Kideco Jaya Agung - Indonesia
- Xindia Steels Limited - India
- New Zealand Coal & Carbon
- Altura Mining Limited, Indonesia
- Bukit Baiduri Energy - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Salva Resources Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- Chettinad Cement Corporation Ltd - India
- PNOC Exploration Corporation - Philippines
- Mintek Dendrill Indonesia
- Eastern Energy - Thailand
- Parliament of New Zealand
- Directorate General of MIneral and Coal - Indonesia
- Kartika Selabumi Mining - Indonesia
- Georgia Ports Authority, United States
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Kumho Petrochemical, South Korea
- Agrawal Coal Company - India
- Siam City Cement PLC, Thailand
- Ambuja Cements Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Chamber of Mines of South Africa
- Australian Commodity Traders Exchange
- Aditya Birla Group - India
- Coastal Gujarat Power Limited - India
- Rio Tinto Coal - Australia
- Pendopo Energi Batubara - Indonesia
- Metalloyd Limited - United Kingdom
- Antam Resourcindo - Indonesia
- GMR Energy Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Rashtriya Ispat Nigam Limited - India
- Romanian Commodities Exchange
- Semirara Mining Corp, Philippines
- TeaM Sual Corporation - Philippines
- Trasteel International SA, Italy
- Meralco Power Generation, Philippines
- ASAPP Information Group - India
- Economic Council, Georgia
- GAC Shipping (India) Pvt Ltd
- Lanco Infratech Ltd - India
- Aboitiz Power Corporation - Philippines
- White Energy Company Limited
- Sree Jayajothi Cements Limited - India
- Parry Sugars Refinery, India
- Central Java Power - Indonesia
- Samtan Co., Ltd - South Korea
- Energy Link Ltd, New Zealand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Gujarat Sidhee Cement - India
- Coal and Oil Company - UAE
- Billiton Holdings Pty Ltd - Australia
- Riau Bara Harum - Indonesia
- Marubeni Corporation - India
- Independent Power Producers Association of India
- CIMB Investment Bank - Malaysia
- CNBM International Corporation - China
- Wilmar Investment Holdings
- Bangladesh Power Developement Board
- Sarangani Energy Corporation, Philippines
- Dalmia Cement Bharat India
- Mercator Lines Limited - India
- Energy Development Corp, Philippines
- Cement Manufacturers Association - India
- Bayan Resources Tbk. - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Vizag Seaport Private Limited - India
- Attock Cement Pakistan Limited
- Gujarat Mineral Development Corp Ltd - India
- PTC India Limited - India
- Minerals Council of Australia
- Leighton Contractors Pty Ltd - Australia
- Interocean Group of Companies - India
- Therma Luzon, Inc, Philippines
- Ind-Barath Power Infra Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Bhushan Steel Limited - India
- Ministry of Finance - Indonesia
- SN Aboitiz Power Inc, Philippines
- Merrill Lynch Commodities Europe
- Bhoruka Overseas - Indonesia
- Bhatia International Limited - India
- Timah Investasi Mineral - Indoneisa
- San Jose City I Power Corp, Philippines
- Kepco SPC Power Corporation, Philippines
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