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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, 06 October 11
SOUTH EAST ASIAS AGGRESSIVE POWER DEMAND GROWTH WILL REQUIRE INVESTMENT OF US$125 BN BY 2020 - WOOD MACKENZIE
COALspot.com - Wood Mackenzie says that South East Asia’s demand growth for new power generation is so aggressive that new power generation in ...
Thursday, 06 October 11
CHINESE DEMAND FOR COAL IMPORTS TO MODERATE IN 2012 - MISWIN MAHESH
COALspot.com - We expect Chinese demand growth for imported steam coal to moderate over the next year. Steam coal imports into China will modera ...
Wednesday, 05 October 11
MINISTRY STICKING TO RAW COMMODITY EXPORT BAN DESPITE INDUSTRY FEARS - JG
The Jakarta Globe, the one of the leading English news paper in Indonesia, reported that, the details of a controversial new regulation that would b ...
Wednesday, 05 October 11
ATLANTIC AND PACIFIC BASINS BECAME TIGHTER FOR PANAMAX LAST WEEK - BRS
A slump for both the Capes and Panamaxes sent the BDI down 1% this week, falling to 1,899 points.
The Capes saw the greatest movement, sliding - ...
Wednesday, 05 October 11
WITH CHINA ON HOLIDAY, DRY BULK MARKET REMAINS STAGNANT - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has remained to healthy levels after last month’s rally, but with China going on holiday this week, things are looking sta ...
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- San Jose City I Power Corp, Philippines
- Romanian Commodities Exchange
- Ceylon Electricity Board - Sri Lanka
- Jaiprakash Power Ventures ltd
- Deloitte Consulting - India
- Renaissance Capital - South Africa
- Madhucon Powers Ltd - India
- Formosa Plastics Group - Taiwan
- Wood Mackenzie - Singapore
- Borneo Indobara - Indonesia
- Lanco Infratech Ltd - India
- White Energy Company Limited
- Mercuria Energy - Indonesia
- Indian Oil Corporation Limited
- Makarim & Taira - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- SMC Global Power, Philippines
- Rashtriya Ispat Nigam Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Larsen & Toubro Limited - India
- Aboitiz Power Corporation - Philippines
- Marubeni Corporation - India
- Krishnapatnam Port Company Ltd. - India
- Xindia Steels Limited - India
- Global Coal Blending Company Limited - Australia
- Savvy Resources Ltd - HongKong
- Sindya Power Generating Company Private Ltd
- Global Green Power PLC Corporation, Philippines
- Minerals Council of Australia
- Ambuja Cements Ltd - India
- Star Paper Mills Limited - India
- Bukit Baiduri Energy - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Central Electricity Authority - India
- Essar Steel Hazira Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Globalindo Alam Lestari - Indonesia
- The Treasury - Australian Government
- Meralco Power Generation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Electricity Generating Authority of Thailand
- Global Business Power Corporation, Philippines
- Aditya Birla Group - India
- Kideco Jaya Agung - Indonesia
- Kepco SPC Power Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Sinarmas Energy and Mining - Indonesia
- Mintek Dendrill Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Electricity Authority, New Zealand
- Merrill Lynch Commodities Europe
- New Zealand Coal & Carbon
- The State Trading Corporation of India Ltd
- TNB Fuel Sdn Bhd - Malaysia
- Intertek Mineral Services - Indonesia
- Gujarat Sidhee Cement - India
- Semirara Mining and Power Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Eastern Energy - Thailand
- Ind-Barath Power Infra Limited - India
- Tata Chemicals Ltd - India
- GVK Power & Infra Limited - India
- Sree Jayajothi Cements Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- International Coal Ventures Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- Baramulti Group, Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Straits Asia Resources Limited - Singapore
- PTC India Limited - India
- Pendopo Energi Batubara - Indonesia
- Kumho Petrochemical, South Korea
- Bhatia International Limited - India
- Iligan Light & Power Inc, Philippines
- Barasentosa Lestari - Indonesia
- Eastern Coal Council - USA
- Dalmia Cement Bharat India
- Directorate General of MIneral and Coal - Indonesia
- Siam City Cement PLC, Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- Uttam Galva Steels Limited - India
- India Bulls Power Limited - India
- Directorate Of Revenue Intelligence - India
- Kobexindo Tractors - Indoneisa
- IHS Mccloskey Coal Group - USA
- Planning Commission, India
- Mercator Lines Limited - India
- Coalindo Energy - Indonesia
- Independent Power Producers Association of India
- Bulk Trading Sa - Switzerland
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Samtan Co., Ltd - South Korea
- Australian Commodity Traders Exchange
- Kartika Selabumi Mining - Indonesia
- SN Aboitiz Power Inc, Philippines
- Grasim Industreis Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Sakthi Sugars Limited - India
- Parliament of New Zealand
- Edison Trading Spa - Italy
- Asmin Koalindo Tuhup - Indonesia
- Antam Resourcindo - Indonesia
- GAC Shipping (India) Pvt Ltd
- Orica Mining Services - Indonesia
- Bukit Makmur.PT - Indonesia
- Bangladesh Power Developement Board
- Binh Thuan Hamico - Vietnam
- Chamber of Mines of South Africa
- Cigading International Bulk Terminal - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indo Tambangraya Megah - Indonesia
- Ministry of Transport, Egypt
- London Commodity Brokers - England
- PetroVietnam Power Coal Import and Supply Company
- Carbofer General Trading SA - India
- TeaM Sual Corporation - Philippines
- Rio Tinto Coal - Australia
- Riau Bara Harum - Indonesia
- Parry Sugars Refinery, India
- OPG Power Generation Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- IEA Clean Coal Centre - UK
- Economic Council, Georgia
- Attock Cement Pakistan Limited
- Orica Australia Pty. Ltd.
- Kohat Cement Company Ltd. - Pakistan
- Kalimantan Lumbung Energi - Indonesia
- Central Java Power - Indonesia
- The University of Queensland
- Vedanta Resources Plc - India
- Medco Energi Mining Internasional
- McConnell Dowell - Australia
- Latin American Coal - Colombia
- SMG Consultants - Indonesia
- Interocean Group of Companies - India
- Posco Energy - South Korea
- Indogreen Group - Indonesia
- Coastal Gujarat Power Limited - India
- Indonesian Coal Mining Association
- Timah Investasi Mineral - Indoneisa
- Thai Mozambique Logistica
- VISA Power Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Vizag Seaport Private Limited - India
- Thiess Contractors Indonesia
- Sical Logistics Limited - India
- Metalloyd Limited - United Kingdom
- Bhushan Steel Limited - India
- Altura Mining Limited, Indonesia
- Jindal Steel & Power Ltd - India
- Oldendorff Carriers - Singapore
- Indika Energy - Indonesia
- Karaikal Port Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- MS Steel International - UAE
- Simpson Spence & Young - Indonesia
- Meenaskhi Energy Private Limited - India
- GMR Energy Limited - India
- Agrawal Coal Company - India
- Cement Manufacturers Association - India
- Ministry of Finance - Indonesia
- CNBM International Corporation - China
- ASAPP Information Group - India
- Alfred C Toepfer International GmbH - Germany
- Kaltim Prima Coal - Indonesia
- Standard Chartered Bank - UAE
- Ministry of Mines - Canada
- Heidelberg Cement - Germany
- Power Finance Corporation Ltd., India
- Manunggal Multi Energi - Indonesia
- Mjunction Services Limited - India
- Gujarat Electricity Regulatory Commission - India
- Goldman Sachs - Singapore
- Maheswari Brothers Coal Limited - India
- Toyota Tsusho Corporation, Japan
- CIMB Investment Bank - Malaysia
- Georgia Ports Authority, United States
- Sarangani Energy Corporation, Philippines
- Price Waterhouse Coopers - Russia
- Energy Development Corp, Philippines
- Semirara Mining Corp, Philippines
- Holcim Trading Pte Ltd - Singapore
- Commonwealth Bank - Australia
- Coal and Oil Company - UAE
- Wilmar Investment Holdings
- South Luzon Thermal Energy Corporation
- Africa Commodities Group - South Africa
- Australian Coal Association
- Salva Resources Pvt Ltd - India
- Trasteel International SA, Italy
- Videocon Industries ltd - India
- PowerSource Philippines DevCo
- Siam City Cement - Thailand
- Petron Corporation, Philippines
- Indian Energy Exchange, India
- Karbindo Abesyapradhi - Indoneisa
- Bharathi Cement Corporation - India
- Banpu Public Company Limited - Thailand
- European Bulk Services B.V. - Netherlands
- Sojitz Corporation - Japan
- Energy Link Ltd, New Zealand
- Maharashtra Electricity Regulatory Commission - India
- Port Waratah Coal Services - Australia
- Miang Besar Coal Terminal - Indonesia
- Bhoruka Overseas - Indonesia
- PNOC Exploration Corporation - Philippines
- Malabar Cements Ltd - India
- Anglo American - United Kingdom
- Singapore Mercantile Exchange
- Bayan Resources Tbk. - Indonesia
- ICICI Bank Limited - India
- Tamil Nadu electricity Board
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