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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, 27 September 11
A STRONG REBOUND FOR THE CAPE MARKET - BRS
A strong rebound for the Cape market, as cargoes continued to flow into the market and tonnage remained tight in the Atlantic, according to Barry Ro ...
Tuesday, 27 September 11
INTRACO SEALS US$25.3 MIO ORDER - INSIDER STORIES
Insider Stories reported that, Heavy equipment distributor PT Intraco Penta Tbk (INTA) obtained a US$25.3 million order on hand of heavy equipments ...
Sunday, 25 September 11
THE CHARTER RATES FOR INDONESIA TO INDIA WAS FIRM - VISTAAR
COALspot.com - The freight market moved up sharply with the cape Index up by 11 pct pushing the BDI by almost 6 pct and closing at 1,920 point ...
Saturday, 24 September 11
GOVT PLANS TO RENEGOTIATE ALL CONTRACTS INCLUDING FREEPORT - JP
The Jakarta Post reported that, the Energy and Mineral Resources Ministry has confirmed plans to renegotiate all mining contracts including those wi ...
Friday, 23 September 11
ICMA TO BUILD UPGRADE FACILITIES TO ANTICIPATE BAN ON LOW-GRADE COAL EXPORT BY 2014
COALspot.com - January to August of this year, Indonesia’s coal production had already reached 235 million tons. Earlier estimates had targete ...
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- Coal and Oil Company - UAE
- Jindal Steel & Power Ltd - India
- Wood Mackenzie - Singapore
- Price Waterhouse Coopers - Russia
- Iligan Light & Power Inc, Philippines
- Chamber of Mines of South Africa
- Commonwealth Bank - Australia
- Gujarat Electricity Regulatory Commission - India
- Heidelberg Cement - Germany
- Thai Mozambique Logistica
- Indian Energy Exchange, India
- Karbindo Abesyapradhi - Indoneisa
- Kepco SPC Power Corporation, Philippines
- Indian Oil Corporation Limited
- Meralco Power Generation, Philippines
- Maheswari Brothers Coal Limited - India
- Star Paper Mills Limited - India
- Latin American Coal - Colombia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Mercuria Energy - Indonesia
- New Zealand Coal & Carbon
- International Coal Ventures Pvt Ltd - India
- Thiess Contractors Indonesia
- Global Coal Blending Company Limited - Australia
- Bayan Resources Tbk. - Indonesia
- Renaissance Capital - South Africa
- Kumho Petrochemical, South Korea
- Baramulti Group, Indonesia
- Bukit Makmur.PT - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- The University of Queensland
- Ambuja Cements Ltd - India
- Barasentosa Lestari - Indonesia
- Antam Resourcindo - Indonesia
- Anglo American - United Kingdom
- Mercator Lines Limited - India
- Manunggal Multi Energi - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Trasteel International SA, Italy
- SMG Consultants - Indonesia
- Uttam Galva Steels Limited - India
- Independent Power Producers Association of India
- Economic Council, Georgia
- Posco Energy - South Korea
- Sakthi Sugars Limited - India
- Sinarmas Energy and Mining - Indonesia
- Petron Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Wilmar Investment Holdings
- Borneo Indobara - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Mjunction Services Limited - India
- Kideco Jaya Agung - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Global Business Power Corporation, Philippines
- Orica Australia Pty. Ltd.
- Singapore Mercantile Exchange
- SMC Global Power, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Energy Link Ltd, New Zealand
- Coalindo Energy - Indonesia
- Eastern Energy - Thailand
- Central Java Power - Indonesia
- Power Finance Corporation Ltd., India
- Directorate General of MIneral and Coal - Indonesia
- Vizag Seaport Private Limited - India
- Bharathi Cement Corporation - India
- Grasim Industreis Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- European Bulk Services B.V. - Netherlands
- Cement Manufacturers Association - India
- Carbofer General Trading SA - India
- GMR Energy Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Parliament of New Zealand
- Chettinad Cement Corporation Ltd - India
- Gujarat Sidhee Cement - India
- TeaM Sual Corporation - Philippines
- Therma Luzon, Inc, Philippines
- Oldendorff Carriers - Singapore
- Bhushan Steel Limited - India
- Indo Tambangraya Megah - Indonesia
- Straits Asia Resources Limited - Singapore
- Xindia Steels Limited - India
- Semirara Mining Corp, Philippines
- Ministry of Transport, Egypt
- Standard Chartered Bank - UAE
- Dalmia Cement Bharat India
- Maharashtra Electricity Regulatory Commission - India
- Jaiprakash Power Ventures ltd
- Globalindo Alam Lestari - Indonesia
- Ind-Barath Power Infra Limited - India
- LBH Netherlands Bv - Netherlands
- Goldman Sachs - Singapore
- Kalimantan Lumbung Energi - Indonesia
- Sree Jayajothi Cements Limited - India
- Kartika Selabumi Mining - Indonesia
- Electricity Generating Authority of Thailand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- GVK Power & Infra Limited - India
- Semirara Mining and Power Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- IHS Mccloskey Coal Group - USA
- Eastern Coal Council - USA
- PTC India Limited - India
- Planning Commission, India
- Toyota Tsusho Corporation, Japan
- McConnell Dowell - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sical Logistics Limited - India
- Sarangani Energy Corporation, Philippines
- IEA Clean Coal Centre - UK
- GN Power Mariveles Coal Plant, Philippines
- London Commodity Brokers - England
- Australian Commodity Traders Exchange
- Banpu Public Company Limited - Thailand
- Port Waratah Coal Services - Australia
- MS Steel International - UAE
- Bukit Baiduri Energy - Indonesia
- Tata Chemicals Ltd - India
- PNOC Exploration Corporation - Philippines
- India Bulls Power Limited - India
- Videocon Industries ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Sojitz Corporation - Japan
- Kapuas Tunggal Persada - Indonesia
- Deloitte Consulting - India
- Malabar Cements Ltd - India
- Siam City Cement - Thailand
- Attock Cement Pakistan Limited
- GAC Shipping (India) Pvt Ltd
- Bhoruka Overseas - Indonesia
- Riau Bara Harum - Indonesia
- Madhucon Powers Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Neyveli Lignite Corporation Ltd, - India
- The State Trading Corporation of India Ltd
- CIMB Investment Bank - Malaysia
- South Luzon Thermal Energy Corporation
- Romanian Commodities Exchange
- AsiaOL BioFuels Corp., Philippines
- Indika Energy - Indonesia
- Rio Tinto Coal - Australia
- Formosa Plastics Group - Taiwan
- Ministry of Finance - Indonesia
- Timah Investasi Mineral - Indoneisa
- Central Electricity Authority - India
- Pipit Mutiara Jaya. PT, Indonesia
- White Energy Company Limited
- Electricity Authority, New Zealand
- Energy Development Corp, Philippines
- Pendopo Energi Batubara - Indonesia
- ICICI Bank Limited - India
- Marubeni Corporation - India
- Australian Coal Association
- Edison Trading Spa - Italy
- Savvy Resources Ltd - HongKong
- Sindya Power Generating Company Private Ltd
- Georgia Ports Authority, United States
- Salva Resources Pvt Ltd - India
- Parry Sugars Refinery, India
- Miang Besar Coal Terminal - Indonesia
- Simpson Spence & Young - Indonesia
- Bangladesh Power Developement Board
- Africa Commodities Group - South Africa
- Jorong Barutama Greston.PT - Indonesia
- ASAPP Information Group - India
- Aboitiz Power Corporation - Philippines
- PetroVietnam Power Coal Import and Supply Company
- Lanco Infratech Ltd - India
- The Treasury - Australian Government
- PowerSource Philippines DevCo
- VISA Power Limited - India
- Minerals Council of Australia
- Indonesian Coal Mining Association
- CNBM International Corporation - China
- Holcim Trading Pte Ltd - Singapore
- Krishnapatnam Port Company Ltd. - India
- Bahari Cakrawala Sebuku - Indonesia
- OPG Power Generation Pvt Ltd - India
- Altura Mining Limited, Indonesia
- Siam City Cement PLC, Thailand
- Meenaskhi Energy Private Limited - India
- Bhatia International Limited - India
- Agrawal Coal Company - India
- Medco Energi Mining Internasional
- Kobexindo Tractors - Indoneisa
- Orica Mining Services - Indonesia
- Metalloyd Limited - United Kingdom
- SN Aboitiz Power Inc, Philippines
- Cigading International Bulk Terminal - Indonesia
- Aditya Birla Group - India
- Mintek Dendrill Indonesia
- Essar Steel Hazira Ltd - India
- Larsen & Toubro Limited - India
- Interocean Group of Companies - India
- Tamil Nadu electricity Board
- Directorate Of Revenue Intelligence - India
- Karaikal Port Pvt Ltd - India
- Makarim & Taira - Indonesia
- Kaltim Prima Coal - Indonesia
- Global Green Power PLC Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Alfred C Toepfer International GmbH - Germany
- Samtan Co., Ltd - South Korea
- Bulk Trading Sa - Switzerland
- Ministry of Mines - Canada
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indogreen Group - Indonesia
- Binh Thuan Hamico - Vietnam
- Merrill Lynch Commodities Europe
- Coastal Gujarat Power Limited - India
- Intertek Mineral Services - Indonesia
- Vedanta Resources Plc - India
- Gujarat Mineral Development Corp Ltd - India
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