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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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Wednesday, 12 October 11
CAPESIZE - A SURPRISE JUMP IN RATES - BRS
There was a surge across all sizes last week, resulting in the BDI gaining 101 points to end the week at 2,000 points (+5.3%). The BCI reached 3,218 ...
Wednesday, 12 October 11
CAPESIZE FREIGHT RATES BOUND TO RETREAT FROM 2011 HIGHS ON THE BACK OF TONNAGE OVERSUPPLY SAYS BIMCO
According to Nikos Roussanoglou, Hellenic Shipping, with the BDI (Baltic Dry Index) breaking yet another 2011 high yesterday and ending the se ...
Tuesday, 11 October 11
GLENCORE, SUITOR FOR BUMI PLC? - INSIDER STORIES
Insider Stories reported that, the largest commodities trader in the world, Glencore International Plc, is considering an opportunity to acquire a m ...
Tuesday, 11 October 11
RENUKA COALINDO BUYS JAMBI COAL
PT Renuka Coalindo Tbk, formerly PT Allbond Makmur Usaha Tbk plans to acquire PT Jambi Prima Coal holder of mining concession in Pauh, Sa ...
Monday, 10 October 11
MOZAMBIQUE CHANNEL TO BE THE NEW PIRACY HOTSPOT FOR THIS YEAR SAYS MARITIME SECURITY EXPERT - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The Mozambique Channel, as well as the entrance to the Persian Gulf, are expected to become some of the new pirate hotspots for piracy, says Richard ...
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- Trasteel International SA, Italy
- Kobexindo Tractors - Indoneisa
- Indo Tambangraya Megah - Indonesia
- Timah Investasi Mineral - Indoneisa
- Kapuas Tunggal Persada - Indonesia
- Mercuria Energy - Indonesia
- PTC India Limited - India
- Madhucon Powers Ltd - India
- Simpson Spence & Young - Indonesia
- International Coal Ventures Pvt Ltd - India
- Australian Coal Association
- Wood Mackenzie - Singapore
- Merrill Lynch Commodities Europe
- CIMB Investment Bank - Malaysia
- Tamil Nadu electricity Board
- Baramulti Group, Indonesia
- Star Paper Mills Limited - India
- Sarangani Energy Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- Bharathi Cement Corporation - India
- Vedanta Resources Plc - India
- Sical Logistics Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- GAC Shipping (India) Pvt Ltd
- Borneo Indobara - Indonesia
- Kartika Selabumi Mining - Indonesia
- Straits Asia Resources Limited - Singapore
- Port Waratah Coal Services - Australia
- Siam City Cement - Thailand
- Ministry of Transport, Egypt
- ICICI Bank Limited - India
- Iligan Light & Power Inc, Philippines
- Coastal Gujarat Power Limited - India
- Semirara Mining and Power Corporation, Philippines
- Mjunction Services Limited - India
- South Luzon Thermal Energy Corporation
- Metalloyd Limited - United Kingdom
- Neyveli Lignite Corporation Ltd, - India
- Semirara Mining Corp, Philippines
- Tata Chemicals Ltd - India
- Orica Australia Pty. Ltd.
- Parry Sugars Refinery, India
- Sinarmas Energy and Mining - Indonesia
- McConnell Dowell - Australia
- IEA Clean Coal Centre - UK
- Malabar Cements Ltd - India
- GMR Energy Limited - India
- The University of Queensland
- Commonwealth Bank - Australia
- Miang Besar Coal Terminal - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Vizag Seaport Private Limited - India
- India Bulls Power Limited - India
- San Jose City I Power Corp, Philippines
- New Zealand Coal & Carbon
- Independent Power Producers Association of India
- Antam Resourcindo - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Electricity Generating Authority of Thailand
- Xindia Steels Limited - India
- Singapore Mercantile Exchange
- Marubeni Corporation - India
- Global Business Power Corporation, Philippines
- Cement Manufacturers Association - India
- Central Java Power - Indonesia
- Electricity Authority, New Zealand
- Gujarat Sidhee Cement - India
- Goldman Sachs - Singapore
- Indika Energy - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Bulk Trading Sa - Switzerland
- Edison Trading Spa - Italy
- TNB Fuel Sdn Bhd - Malaysia
- Coal and Oil Company - UAE
- Bangladesh Power Developement Board
- Leighton Contractors Pty Ltd - Australia
- Siam City Cement PLC, Thailand
- Altura Mining Limited, Indonesia
- Directorate Of Revenue Intelligence - India
- Maheswari Brothers Coal Limited - India
- Anglo American - United Kingdom
- Salva Resources Pvt Ltd - India
- Carbofer General Trading SA - India
- Grasim Industreis Ltd - India
- PowerSource Philippines DevCo
- Mercator Lines Limited - India
- Sree Jayajothi Cements Limited - India
- Indian Oil Corporation Limited
- Jaiprakash Power Ventures ltd
- Bukit Baiduri Energy - Indonesia
- SN Aboitiz Power Inc, Philippines
- GVK Power & Infra Limited - India
- European Bulk Services B.V. - Netherlands
- Standard Chartered Bank - UAE
- Holcim Trading Pte Ltd - Singapore
- Petron Corporation, Philippines
- Banpu Public Company Limited - Thailand
- Gujarat Electricity Regulatory Commission - India
- Rashtriya Ispat Nigam Limited - India
- Renaissance Capital - South Africa
- Petrochimia International Co. Ltd.- Taiwan
- Indian Energy Exchange, India
- ASAPP Information Group - India
- Sindya Power Generating Company Private Ltd
- Pendopo Energi Batubara - Indonesia
- Ind-Barath Power Infra Limited - India
- Bhoruka Overseas - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Africa Commodities Group - South Africa
- VISA Power Limited - India
- Orica Mining Services - Indonesia
- Ambuja Cements Ltd - India
- Karaikal Port Pvt Ltd - India
- Planning Commission, India
- Kumho Petrochemical, South Korea
- Samtan Co., Ltd - South Korea
- Globalindo Alam Lestari - Indonesia
- Ceylon Electricity Board - Sri Lanka
- MS Steel International - UAE
- Karbindo Abesyapradhi - Indoneisa
- Latin American Coal - Colombia
- The State Trading Corporation of India Ltd
- Bhatia International Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Indonesian Coal Mining Association
- Uttam Galva Steels Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Barasentosa Lestari - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- LBH Netherlands Bv - Netherlands
- Georgia Ports Authority, United States
- Meenaskhi Energy Private Limited - India
- Dalmia Cement Bharat India
- Global Green Power PLC Corporation, Philippines
- Meralco Power Generation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Interocean Group of Companies - India
- Lanco Infratech Ltd - India
- Sojitz Corporation - Japan
- Kohat Cement Company Ltd. - Pakistan
- Central Electricity Authority - India
- Pipit Mutiara Jaya. PT, Indonesia
- Bayan Resources Tbk. - Indonesia
- The Treasury - Australian Government
- Price Waterhouse Coopers - Russia
- Wilmar Investment Holdings
- OPG Power Generation Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- Essar Steel Hazira Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Parliament of New Zealand
- Manunggal Multi Energi - Indonesia
- Bhushan Steel Limited - India
- Mintek Dendrill Indonesia
- AsiaOL BioFuels Corp., Philippines
- Power Finance Corporation Ltd., India
- Videocon Industries ltd - India
- Economic Council, Georgia
- Minerals Council of Australia
- Savvy Resources Ltd - HongKong
- Oldendorff Carriers - Singapore
- Cigading International Bulk Terminal - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- London Commodity Brokers - England
- Toyota Tsusho Corporation, Japan
- Aboitiz Power Corporation - Philippines
- Eastern Coal Council - USA
- Agrawal Coal Company - India
- Intertek Mineral Services - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Makarim & Taira - Indonesia
- Coalindo Energy - Indonesia
- White Energy Company Limited
- Riau Bara Harum - Indonesia
- Chamber of Mines of South Africa
- Indogreen Group - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Deloitte Consulting - India
- Maharashtra Electricity Regulatory Commission - India
- Kaltim Prima Coal - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Ministry of Mines - Canada
- CNBM International Corporation - China
- Energy Link Ltd, New Zealand
- Romanian Commodities Exchange
- Aditya Birla Group - India
- Ministry of Finance - Indonesia
- Larsen & Toubro Limited - India
- Posco Energy - South Korea
- Attock Cement Pakistan Limited
- GN Power Mariveles Coal Plant, Philippines
- Australian Commodity Traders Exchange
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Energy Development Corp, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Binh Thuan Hamico - Vietnam
- Therma Luzon, Inc, Philippines
- SMC Global Power, Philippines
- Rio Tinto Coal - Australia
- TeaM Sual Corporation - Philippines
- Kepco SPC Power Corporation, Philippines
- Thiess Contractors Indonesia
- Chettinad Cement Corporation Ltd - India
- Medco Energi Mining Internasional
- Eastern Energy - Thailand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kideco Jaya Agung - Indonesia
- SMG Consultants - Indonesia
- Sakthi Sugars Limited - India
- Heidelberg Cement - Germany
- Global Coal Blending Company Limited - Australia
- PNOC Exploration Corporation - Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Thai Mozambique Logistica
- Jindal Steel & Power Ltd - India
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