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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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Saturday, 15 October 11
BENGAL COAL IMPORT TEST - THE TELEGRAPH
The Telegraph reported that, the power position in Bengal improved today but alarm bells are ringing over imported coal stocks that are running out ...
Friday, 14 October 11
CAPE DERIVATIVES MARKET HAS NOT REFLECTED OWNERS EXPECTATIONS' - FEARNBULK
Handy
The Atlantic market continued its upward trend, with fresh cargo entering the market. Skaw Passero to US Gulf climbed US$ 1500 from la ...
Friday, 14 October 11
ADARO BUYS SERVO MEDA FOR RP200 BIO - INSIDER STORIES
Insider Stories reported that, PT Adaro Energy Tbk (ADRO) announced that its subsidiary PT Alam Tri Abadi (ATI), acquired 35% stake in PT Serv ...
Thursday, 13 October 11
DRY BULK MARKETS RALLY CONTINUES, BUT ANALYSTS WARN IT WILL BE SHORTLIVED - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market continued its push forward yesterday, for yet another session, as the BDI (Baltic Dry Index), the industry’s benchmark edg ...
Wednesday, 12 October 11
INDONESIAS COAL RUSH - JOSEPH KIRSCHKE
COALspot.com - Last winter, the Chinese government mobilized thousands of soldiers and reservists of the People’s Liberation Army to the port ...
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- Dr Ramakrishna Prasad Power Pvt Ltd - India
- GVK Power & Infra Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Vijayanagar Sugar Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- Antam Resourcindo - Indonesia
- Indian Oil Corporation Limited
- White Energy Company Limited
- Iligan Light & Power Inc, Philippines
- Chettinad Cement Corporation Ltd - India
- Ind-Barath Power Infra Limited - India
- Global Business Power Corporation, Philippines
- VISA Power Limited - India
- Meralco Power Generation, Philippines
- Aditya Birla Group - India
- Eastern Coal Council - USA
- Gujarat Sidhee Cement - India
- TNB Fuel Sdn Bhd - Malaysia
- ICICI Bank Limited - India
- LBH Netherlands Bv - Netherlands
- MS Steel International - UAE
- CIMB Investment Bank - Malaysia
- Altura Mining Limited, Indonesia
- Carbofer General Trading SA - India
- Africa Commodities Group - South Africa
- Vedanta Resources Plc - India
- Borneo Indobara - Indonesia
- ASAPP Information Group - India
- Ministry of Transport, Egypt
- Mintek Dendrill Indonesia
- Thiess Contractors Indonesia
- Anglo American - United Kingdom
- Sree Jayajothi Cements Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Coalindo Energy - Indonesia
- Semirara Mining Corp, Philippines
- Global Coal Blending Company Limited - Australia
- Kartika Selabumi Mining - Indonesia
- Toyota Tsusho Corporation, Japan
- Indika Energy - Indonesia
- Bhushan Steel Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Australian Commodity Traders Exchange
- Essar Steel Hazira Ltd - India
- Indogreen Group - Indonesia
- Salva Resources Pvt Ltd - India
- Renaissance Capital - South Africa
- Bukit Baiduri Energy - Indonesia
- Planning Commission, India
- Orica Australia Pty. Ltd.
- Leighton Contractors Pty Ltd - Australia
- Marubeni Corporation - India
- Commonwealth Bank - Australia
- Coastal Gujarat Power Limited - India
- Standard Chartered Bank - UAE
- Gujarat Electricity Regulatory Commission - India
- Attock Cement Pakistan Limited
- Indian Energy Exchange, India
- Siam City Cement - Thailand
- Lanco Infratech Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kapuas Tunggal Persada - Indonesia
- CNBM International Corporation - China
- Kobexindo Tractors - Indoneisa
- Indonesian Coal Mining Association
- Romanian Commodities Exchange
- PTC India Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Singapore Mercantile Exchange
- Jindal Steel & Power Ltd - India
- TeaM Sual Corporation - Philippines
- Simpson Spence & Young - Indonesia
- Savvy Resources Ltd - HongKong
- Orica Mining Services - Indonesia
- Parry Sugars Refinery, India
- Tata Chemicals Ltd - India
- Agrawal Coal Company - India
- Baramulti Group, Indonesia
- SMC Global Power, Philippines
- Barasentosa Lestari - Indonesia
- Grasim Industreis Ltd - India
- Sakthi Sugars Limited - India
- Deloitte Consulting - India
- Bukit Makmur.PT - Indonesia
- Alfred C Toepfer International GmbH - Germany
- McConnell Dowell - Australia
- Larsen & Toubro Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Banpu Public Company Limited - Thailand
- Eastern Energy - Thailand
- Posco Energy - South Korea
- Mercator Lines Limited - India
- Petron Corporation, Philippines
- IEA Clean Coal Centre - UK
- Ambuja Cements Ltd - India
- Independent Power Producers Association of India
- Gujarat Mineral Development Corp Ltd - India
- Miang Besar Coal Terminal - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Dalmia Cement Bharat India
- Wilmar Investment Holdings
- Sojitz Corporation - Japan
- Offshore Bulk Terminal Pte Ltd, Singapore
- Medco Energi Mining Internasional
- Sinarmas Energy and Mining - Indonesia
- Videocon Industries ltd - India
- Kalimantan Lumbung Energi - Indonesia
- GMR Energy Limited - India
- Bhatia International Limited - India
- Kideco Jaya Agung - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Wood Mackenzie - Singapore
- Intertek Mineral Services - Indonesia
- IHS Mccloskey Coal Group - USA
- Price Waterhouse Coopers - Russia
- Tamil Nadu electricity Board
- Globalindo Alam Lestari - Indonesia
- Kaltim Prima Coal - Indonesia
- The University of Queensland
- Bank of Tokyo Mitsubishi UFJ Ltd
- SN Aboitiz Power Inc, Philippines
- Mercuria Energy - Indonesia
- Trasteel International SA, Italy
- Bangladesh Power Developement Board
- Indo Tambangraya Megah - Indonesia
- Bayan Resources Tbk. - Indonesia
- New Zealand Coal & Carbon
- India Bulls Power Limited - India
- Power Finance Corporation Ltd., India
- Xindia Steels Limited - India
- The State Trading Corporation of India Ltd
- Rio Tinto Coal - Australia
- Directorate General of MIneral and Coal - Indonesia
- Merrill Lynch Commodities Europe
- Directorate Of Revenue Intelligence - India
- Sical Logistics Limited - India
- Australian Coal Association
- Cigading International Bulk Terminal - Indonesia
- Straits Asia Resources Limited - Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- OPG Power Generation Pvt Ltd - India
- Riau Bara Harum - Indonesia
- Maheswari Brothers Coal Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Thai Mozambique Logistica
- Chamber of Mines of South Africa
- International Coal Ventures Pvt Ltd - India
- SMG Consultants - Indonesia
- Krishnapatnam Port Company Ltd. - India
- GN Power Mariveles Coal Plant, Philippines
- Pendopo Energi Batubara - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Ministry of Mines - Canada
- Uttam Galva Steels Limited - India
- Meenaskhi Energy Private Limited - India
- Economic Council, Georgia
- Karaikal Port Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- Madhucon Powers Ltd - India
- Central Electricity Authority - India
- GAC Shipping (India) Pvt Ltd
- Georgia Ports Authority, United States
- Siam City Cement PLC, Thailand
- Global Green Power PLC Corporation, Philippines
- Edison Trading Spa - Italy
- Malabar Cements Ltd - India
- Kepco SPC Power Corporation, Philippines
- San Jose City I Power Corp, Philippines
- Goldman Sachs - Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- Metalloyd Limited - United Kingdom
- Energy Development Corp, Philippines
- Vizag Seaport Private Limited - India
- Port Waratah Coal Services - Australia
- Electricity Generating Authority of Thailand
- Billiton Holdings Pty Ltd - Australia
- Binh Thuan Hamico - Vietnam
- Heidelberg Cement - Germany
- PNOC Exploration Corporation - Philippines
- Ceylon Electricity Board - Sri Lanka
- Electricity Authority, New Zealand
- Latin American Coal - Colombia
- PowerSource Philippines DevCo
- Kumho Petrochemical, South Korea
- The Treasury - Australian Government
- Central Java Power - Indonesia
- Bharathi Cement Corporation - India
- Kohat Cement Company Ltd. - Pakistan
- Manunggal Multi Energi - Indonesia
- Parliament of New Zealand
- Interocean Group of Companies - India
- South Luzon Thermal Energy Corporation
- Star Paper Mills Limited - India
- Coal and Oil Company - UAE
- Karbindo Abesyapradhi - Indoneisa
- Formosa Plastics Group - Taiwan
- Jaiprakash Power Ventures ltd
- Timah Investasi Mineral - Indoneisa
- European Bulk Services B.V. - Netherlands
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bhoruka Overseas - Indonesia
- Mjunction Services Limited - India
- Energy Link Ltd, New Zealand
- Makarim & Taira - Indonesia
- Ministry of Finance - Indonesia
- Aboitiz Power Corporation - Philippines
- Therma Luzon, Inc, Philippines
- Sindya Power Generating Company Private Ltd
- London Commodity Brokers - England
- Holcim Trading Pte Ltd - Singapore
- Sarangani Energy Corporation, Philippines
- Minerals Council of Australia
- Cement Manufacturers Association - India
- Semirara Mining and Power Corporation, Philippines
- Oldendorff Carriers - Singapore
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