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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, 18 October 11
INDONESIAN PRESIDENT APPOINTS JERO WACIK AS NEW MINISTER OF ENERGY & MINERAL RESOURCES
COALspot.com - Jero Wacik has been appointed as minister of energy and mineral resources of Indonesia replacing Darwin Saleh and Prof. Widjajono Par ...
Tuesday, 18 October 11
DELTA DUNIA MAKMUR HAS PRODUCED 3.0 MILLION TONS OF COAL LAST MONTH
COALspot.com - PT. Delta Dunia Makmur, wholly owned subsidiary, PT Bukit Makmur Mandiri Utama (BUMA), Delta Dunia Makmur has removed 1.4 million bcm ...
Monday, 17 October 11
KOWEPO TO BUY 260,000 MT BITUMINOUS COAL
COALspot.com - KOWEPO has issued a spot tender for 260,000MT of minimum 5,600kcal/kg NAR Bituminous Coal.
The tender document also mentioned tha ...
Monday, 17 October 11
CAPESIZE SHIPPING COSTS CLIMB TO 10-MONTH HIGH ON ORE IMPORTS
The cost to hire capesize vessels climbed to a 10-month high as rising imports of iron ore to China boosted demand for the ships.Monthly iron-ore sh ...
Saturday, 15 October 11
BUNKER PRICES AND DEMANDS PUSHED FREIGHT RATES UP - VISTAAR
COALspot.com - The market continued to be firm with all segments moving up with biggest gain in Handy size segment up by 15 pct. The BDI was u ...
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Showing 5026 to 5030 news of total 6871 |
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- Star Paper Mills Limited - India
- Wilmar Investment Holdings
- Romanian Commodities Exchange
- Kohat Cement Company Ltd. - Pakistan
- Independent Power Producers Association of India
- Sinarmas Energy and Mining - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Bhushan Steel Limited - India
- GAC Shipping (India) Pvt Ltd
- Maheswari Brothers Coal Limited - India
- SN Aboitiz Power Inc, Philippines
- Eastern Energy - Thailand
- Georgia Ports Authority, United States
- Chettinad Cement Corporation Ltd - India
- Edison Trading Spa - Italy
- Aditya Birla Group - India
- LBH Netherlands Bv - Netherlands
- Central Java Power - Indonesia
- Energy Link Ltd, New Zealand
- Siam City Cement - Thailand
- Asmin Koalindo Tuhup - Indonesia
- Pendopo Energi Batubara - Indonesia
- Indonesian Coal Mining Association
- Bhoruka Overseas - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Economic Council, Georgia
- Bulk Trading Sa - Switzerland
- IHS Mccloskey Coal Group - USA
- Sakthi Sugars Limited - India
- Posco Energy - South Korea
- Ministry of Mines - Canada
- Sarangani Energy Corporation, Philippines
- Central Electricity Authority - India
- Attock Cement Pakistan Limited
- Bhatia International Limited - India
- Krishnapatnam Port Company Ltd. - India
- Cement Manufacturers Association - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- New Zealand Coal & Carbon
- Marubeni Corporation - India
- Orica Mining Services - Indonesia
- Makarim & Taira - Indonesia
- Coastal Gujarat Power Limited - India
- SMG Consultants - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Standard Chartered Bank - UAE
- Goldman Sachs - Singapore
- Heidelberg Cement - Germany
- Ambuja Cements Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indian Energy Exchange, India
- Bharathi Cement Corporation - India
- Mercator Lines Limited - India
- Holcim Trading Pte Ltd - Singapore
- Manunggal Multi Energi - Indonesia
- International Coal Ventures Pvt Ltd - India
- Vizag Seaport Private Limited - India
- Toyota Tsusho Corporation, Japan
- Karaikal Port Pvt Ltd - India
- Baramulti Group, Indonesia
- PTC India Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Borneo Indobara - Indonesia
- Parry Sugars Refinery, India
- AsiaOL BioFuels Corp., Philippines
- Semirara Mining and Power Corporation, Philippines
- MS Steel International - UAE
- Jindal Steel & Power Ltd - India
- Parliament of New Zealand
- Gujarat Sidhee Cement - India
- Ministry of Transport, Egypt
- Thiess Contractors Indonesia
- Power Finance Corporation Ltd., India
- Renaissance Capital - South Africa
- Global Business Power Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Straits Asia Resources Limited - Singapore
- Planning Commission, India
- Tamil Nadu electricity Board
- Singapore Mercantile Exchange
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kobexindo Tractors - Indoneisa
- Price Waterhouse Coopers - Russia
- Sojitz Corporation - Japan
- Samtan Co., Ltd - South Korea
- Wood Mackenzie - Singapore
- San Jose City I Power Corp, Philippines
- Vedanta Resources Plc - India
- Directorate Of Revenue Intelligence - India
- Eastern Coal Council - USA
- Bayan Resources Tbk. - Indonesia
- Globalindo Alam Lestari - Indonesia
- Bangladesh Power Developement Board
- OPG Power Generation Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- PNOC Exploration Corporation - Philippines
- Sical Logistics Limited - India
- TeaM Sual Corporation - Philippines
- Electricity Authority, New Zealand
- Energy Development Corp, Philippines
- Siam City Cement PLC, Thailand
- Iligan Light & Power Inc, Philippines
- Semirara Mining Corp, Philippines
- Binh Thuan Hamico - Vietnam
- Banpu Public Company Limited - Thailand
- Agrawal Coal Company - India
- Kideco Jaya Agung - Indonesia
- CIMB Investment Bank - Malaysia
- Mercuria Energy - Indonesia
- SMC Global Power, Philippines
- Port Waratah Coal Services - Australia
- The State Trading Corporation of India Ltd
- Metalloyd Limited - United Kingdom
- Australian Commodity Traders Exchange
- Neyveli Lignite Corporation Ltd, - India
- Directorate General of MIneral and Coal - Indonesia
- Savvy Resources Ltd - HongKong
- Medco Energi Mining Internasional
- Coal and Oil Company - UAE
- Tata Chemicals Ltd - India
- India Bulls Power Limited - India
- Thai Mozambique Logistica
- Ind-Barath Power Infra Limited - India
- Kartika Selabumi Mining - Indonesia
- Deloitte Consulting - India
- Sree Jayajothi Cements Limited - India
- Global Green Power PLC Corporation, Philippines
- Therma Luzon, Inc, Philippines
- VISA Power Limited - India
- Altura Mining Limited, Indonesia
- Jaiprakash Power Ventures ltd
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kumho Petrochemical, South Korea
- Minerals Council of Australia
- The University of Queensland
- Gujarat Mineral Development Corp Ltd - India
- Uttam Galva Steels Limited - India
- Grasim Industreis Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- London Commodity Brokers - England
- Intertek Mineral Services - Indonesia
- Dalmia Cement Bharat India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Latin American Coal - Colombia
- ASAPP Information Group - India
- PowerSource Philippines DevCo
- Trasteel International SA, Italy
- Rio Tinto Coal - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Gujarat Electricity Regulatory Commission - India
- Salva Resources Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Oldendorff Carriers - Singapore
- Anglo American - United Kingdom
- Aboitiz Power Corporation - Philippines
- Australian Coal Association
- GMR Energy Limited - India
- Africa Commodities Group - South Africa
- Mjunction Services Limited - India
- Xindia Steels Limited - India
- Alfred C Toepfer International GmbH - Germany
- Bukit Makmur.PT - Indonesia
- GVK Power & Infra Limited - India
- Lanco Infratech Ltd - India
- Barasentosa Lestari - Indonesia
- Petron Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Formosa Plastics Group - Taiwan
- Electricity Generating Authority of Thailand
- Madhucon Powers Ltd - India
- Indika Energy - Indonesia
- Coalindo Energy - Indonesia
- South Luzon Thermal Energy Corporation
- Kapuas Tunggal Persada - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Commonwealth Bank - Australia
- Antam Resourcindo - Indonesia
- Billiton Holdings Pty Ltd - Australia
- White Energy Company Limited
- Merrill Lynch Commodities Europe
- Chamber of Mines of South Africa
- Indian Oil Corporation Limited
- Malabar Cements Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Larsen & Toubro Limited - India
- European Bulk Services B.V. - Netherlands
- Carbofer General Trading SA - India
- Meralco Power Generation, Philippines
- Mintek Dendrill Indonesia
- Simpson Spence & Young - Indonesia
- Ceylon Electricity Board - Sri Lanka
- TNB Fuel Sdn Bhd - Malaysia
- Essar Steel Hazira Ltd - India
- Bukit Baiduri Energy - Indonesia
- Indo Tambangraya Megah - Indonesia
- Global Coal Blending Company Limited - Australia
- IEA Clean Coal Centre - UK
- CNBM International Corporation - China
- Ministry of Finance - Indonesia
- Riau Bara Harum - Indonesia
- McConnell Dowell - Australia
- Cigading International Bulk Terminal - Indonesia
- Kaltim Prima Coal - Indonesia
- Indogreen Group - Indonesia
- The Treasury - Australian Government
- Videocon Industries ltd - India
- Kepco SPC Power Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Timah Investasi Mineral - Indoneisa
- Sindya Power Generating Company Private Ltd
- Orica Australia Pty. Ltd.
- Interocean Group of Companies - India
- ICICI Bank Limited - India
- Rashtriya Ispat Nigam Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
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