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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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Friday, 30 September 11
INDIAN IRON ORE MARKET GETTING ACTIVE - FEARNLEYS AS
Handy
The Atlantic market continued its strong trend with fresh cargoes entering the market. Vessels open US Gulf fixed tick above US$ 27k back to t ...
Friday, 30 September 11
KRISHNAPATNAM PORT WINS GLOBAL PORT & COAL PORT OF THE YEAR AWARDS
COALspot.com - Krishnapatnam Port, a dynamic new generation world class port located in the East Coast of India has been adjudged the winner in the ...
Thursday, 29 September 11
INDONESIA'S MINERS FACE AN UNCERTAIN FUTURE - RUPERT WALKER
An evolving regulatory framework for the country's minerals industry could threaten its profitability and stifle investment.
The five-year surge ...
Thursday, 29 September 11
DRY BULK MARKET FALLS MID-WEEK, FURTHER DROP EXPECTED NEXT WEEK ON CHINA HOLIDAYS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market, as reflected by the Baltic Dry Index (BDI) retreated by 0.36% yesterday reaching 1,920 points, with the Capesize segment suffer ...
Wednesday, 28 September 11
ATLAS RESOURCES TO SELL 25% STAKE IN IPO - INSIDER STORIES
Insider Stories reported that, coal producer PT Atlas Resources Tbk, that is controlled by Indonesian businessman Andre Abdi, plans to sell 783.33 m ...
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- Gujarat Electricity Regulatory Commission - India
- Videocon Industries ltd - India
- Kobexindo Tractors - Indoneisa
- Therma Luzon, Inc, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Romanian Commodities Exchange
- Mintek Dendrill Indonesia
- SN Aboitiz Power Inc, Philippines
- Makarim & Taira - Indonesia
- IEA Clean Coal Centre - UK
- Directorate General of MIneral and Coal - Indonesia
- Rio Tinto Coal - Australia
- Aditya Birla Group - India
- Agrawal Coal Company - India
- Bulk Trading Sa - Switzerland
- Australian Coal Association
- Bahari Cakrawala Sebuku - Indonesia
- Bhushan Steel Limited - India
- IHS Mccloskey Coal Group - USA
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Pipit Mutiara Jaya. PT, Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Kepco SPC Power Corporation, Philippines
- SMG Consultants - Indonesia
- Wilmar Investment Holdings
- Bank of Tokyo Mitsubishi UFJ Ltd
- TeaM Sual Corporation - Philippines
- Medco Energi Mining Internasional
- Independent Power Producers Association of India
- Barasentosa Lestari - Indonesia
- Karaikal Port Pvt Ltd - India
- Bangladesh Power Developement Board
- Toyota Tsusho Corporation, Japan
- Minerals Council of Australia
- Vijayanagar Sugar Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- Anglo American - United Kingdom
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Madhucon Powers Ltd - India
- Parry Sugars Refinery, India
- Sojitz Corporation - Japan
- London Commodity Brokers - England
- Central Electricity Authority - India
- PowerSource Philippines DevCo
- New Zealand Coal & Carbon
- Siam City Cement - Thailand
- Cigading International Bulk Terminal - Indonesia
- Mjunction Services Limited - India
- Ceylon Electricity Board - Sri Lanka
- Coal and Oil Company - UAE
- International Coal Ventures Pvt Ltd - India
- PTC India Limited - India
- Africa Commodities Group - South Africa
- Coastal Gujarat Power Limited - India
- Semirara Mining and Power Corporation, Philippines
- Energy Link Ltd, New Zealand
- Orica Mining Services - Indonesia
- McConnell Dowell - Australia
- Mercator Lines Limited - India
- Riau Bara Harum - Indonesia
- Eastern Energy - Thailand
- Antam Resourcindo - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Savvy Resources Ltd - HongKong
- Siam City Cement PLC, Thailand
- CIMB Investment Bank - Malaysia
- Pendopo Energi Batubara - Indonesia
- Banpu Public Company Limited - Thailand
- Sree Jayajothi Cements Limited - India
- Semirara Mining Corp, Philippines
- Ministry of Transport, Egypt
- Offshore Bulk Terminal Pte Ltd, Singapore
- Salva Resources Pvt Ltd - India
- Wood Mackenzie - Singapore
- Borneo Indobara - Indonesia
- Meralco Power Generation, Philippines
- Kartika Selabumi Mining - Indonesia
- CNBM International Corporation - China
- Orica Australia Pty. Ltd.
- Asmin Koalindo Tuhup - Indonesia
- SMC Global Power, Philippines
- Miang Besar Coal Terminal - Indonesia
- Thiess Contractors Indonesia
- Singapore Mercantile Exchange
- Bukit Asam (Persero) Tbk - Indonesia
- ASAPP Information Group - India
- Straits Asia Resources Limited - Singapore
- GAC Shipping (India) Pvt Ltd
- South Luzon Thermal Energy Corporation
- Holcim Trading Pte Ltd - Singapore
- Petron Corporation, Philippines
- Georgia Ports Authority, United States
- Iligan Light & Power Inc, Philippines
- Electricity Generating Authority of Thailand
- Jorong Barutama Greston.PT - Indonesia
- Globalindo Alam Lestari - Indonesia
- Ind-Barath Power Infra Limited - India
- Star Paper Mills Limited - India
- Australian Commodity Traders Exchange
- Kapuas Tunggal Persada - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Manunggal Multi Energi - Indonesia
- White Energy Company Limited
- Goldman Sachs - Singapore
- Metalloyd Limited - United Kingdom
- Heidelberg Cement - Germany
- AsiaOL BioFuels Corp., Philippines
- Deloitte Consulting - India
- Indian Oil Corporation Limited
- Alfred C Toepfer International GmbH - Germany
- Posco Energy - South Korea
- San Jose City I Power Corp, Philippines
- Vedanta Resources Plc - India
- TNB Fuel Sdn Bhd - Malaysia
- Electricity Authority, New Zealand
- Economic Council, Georgia
- Indogreen Group - Indonesia
- Indo Tambangraya Megah - Indonesia
- Formosa Plastics Group - Taiwan
- PetroVietnam Power Coal Import and Supply Company
- Indika Energy - Indonesia
- GVK Power & Infra Limited - India
- Rashtriya Ispat Nigam Limited - India
- Billiton Holdings Pty Ltd - Australia
- Indian Energy Exchange, India
- Port Waratah Coal Services - Australia
- Planning Commission, India
- Kideco Jaya Agung - Indonesia
- Altura Mining Limited, Indonesia
- VISA Power Limited - India
- Gujarat Sidhee Cement - India
- Karbindo Abesyapradhi - Indoneisa
- Bhatia International Limited - India
- Eastern Coal Council - USA
- Kumho Petrochemical, South Korea
- GN Power Mariveles Coal Plant, Philippines
- Tamil Nadu electricity Board
- Merrill Lynch Commodities Europe
- Chettinad Cement Corporation Ltd - India
- Standard Chartered Bank - UAE
- The Treasury - Australian Government
- Power Finance Corporation Ltd., India
- Interocean Group of Companies - India
- Energy Development Corp, Philippines
- Thai Mozambique Logistica
- Ministry of Finance - Indonesia
- Directorate Of Revenue Intelligence - India
- Ambuja Cements Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- PNOC Exploration Corporation - Philippines
- Kaltim Prima Coal - Indonesia
- Attock Cement Pakistan Limited
- Sical Logistics Limited - India
- Bharathi Cement Corporation - India
- Grasim Industreis Ltd - India
- Central Java Power - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Samtan Co., Ltd - South Korea
- European Bulk Services B.V. - Netherlands
- Malabar Cements Ltd - India
- Edison Trading Spa - Italy
- Sakthi Sugars Limited - India
- Commonwealth Bank - Australia
- Chamber of Mines of South Africa
- Meenaskhi Energy Private Limited - India
- GMR Energy Limited - India
- Bhoruka Overseas - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Parliament of New Zealand
- Price Waterhouse Coopers - Russia
- Indonesian Coal Mining Association
- Intertek Mineral Services - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Renaissance Capital - South Africa
- Bukit Makmur.PT - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Trasteel International SA, Italy
- Baramulti Group, Indonesia
- Uttam Galva Steels Limited - India
- Oldendorff Carriers - Singapore
- Maheswari Brothers Coal Limited - India
- Maharashtra Electricity Regulatory Commission - India
- India Bulls Power Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Essar Steel Hazira Ltd - India
- Vizag Seaport Private Limited - India
- Global Coal Blending Company Limited - Australia
- Jaiprakash Power Ventures ltd
- Bukit Baiduri Energy - Indonesia
- Dalmia Cement Bharat India
- Simpson Spence & Young - Indonesia
- Jindal Steel & Power Ltd - India
- Aboitiz Power Corporation - Philippines
- Global Business Power Corporation, Philippines
- Mercuria Energy - Indonesia
- Marubeni Corporation - India
- Binh Thuan Hamico - Vietnam
- Coalindo Energy - Indonesia
- Timah Investasi Mineral - Indoneisa
- Latin American Coal - Colombia
- LBH Netherlands Bv - Netherlands
- The University of Queensland
- Sindya Power Generating Company Private Ltd
- Ministry of Mines - Canada
- Lanco Infratech Ltd - India
- Larsen & Toubro Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Tata Chemicals Ltd - India
- Xindia Steels Limited - India
- OPG Power Generation Pvt Ltd - India
- Carbofer General Trading SA - India
- Bayan Resources Tbk. - Indonesia
- The State Trading Corporation of India Ltd
- ICICI Bank Limited - India
- Cement Manufacturers Association - India
- MS Steel International - UAE
- Sarangani Energy Corporation, Philippines
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