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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, 23 September 11
UT TO PRODUCE 7 MMT OF COAL BY 2012
PT United Tractors Tbk is targeting a 7 million tons of coal production next year, a 55.55% increase from 4.5 millions targeted this year, said Pres ...
Friday, 23 September 11
RECORD RECYCLING ACTIVITY STIRS OPTIMISM IN DRY BULK SAYS BIMCOS ANALYSIS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
As expected at the start of the year, dry bulk ship owners were expected to flock scrapyards around the world, in order to take advantage of attract ...
Friday, 23 September 11
PANAMAX EXPERIENCED A SOFTENING IN RATES - FEARNLEYS AS
Handy
Still a good boost of fresh cargoes entering the market. Vessels in Black Sea with GOA clearance and Baltic positions are fetching tick abov ...
Wednesday, 21 September 11
INDIA'S COAL IMPORTS FROM INDONESIA FALL, CHINA BUYS MORE
COALspot.com - Indian coal imports from Indonesia fall to below 6 million tons in August, and this fall was continuing last few months. Ho ...
Wednesday, 21 September 11
2ND ANNUAL SHALE GAS SUMMIT
2nd Annual Shale Gas Summit 31 October – 3 November 2011 JW Marriott Hotel, Hong Kong
According to a recent EI ...
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- TNB Fuel Sdn Bhd - Malaysia
- Petron Corporation, Philippines
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- Lanco Infratech Ltd - India
- Sarangani Energy Corporation, Philippines
- Ministry of Mines - Canada
- Africa Commodities Group - South Africa
- Sakthi Sugars Limited - India
- Power Finance Corporation Ltd., India
- Neyveli Lignite Corporation Ltd, - India
- Straits Asia Resources Limited - Singapore
- Indogreen Group - Indonesia
- GAC Shipping (India) Pvt Ltd
- Attock Cement Pakistan Limited
- Kapuas Tunggal Persada - Indonesia
- PTC India Limited - India
- Ministry of Transport, Egypt
- Eastern Energy - Thailand
- The Treasury - Australian Government
- Siam City Cement PLC, Thailand
- Bukit Asam (Persero) Tbk - Indonesia
- GVK Power & Infra Limited - India
- Global Green Power PLC Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- LBH Netherlands Bv - Netherlands
- Cement Manufacturers Association - India
- Electricity Authority, New Zealand
- Independent Power Producers Association of India
- Medco Energi Mining Internasional
- Planning Commission, India
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- Dr Ramakrishna Prasad Power Pvt Ltd - India
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- Samtan Co., Ltd - South Korea
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- Truba Alam Manunggal Engineering.Tbk - Indonesia
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- Bulk Trading Sa - Switzerland
- Kohat Cement Company Ltd. - Pakistan
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- European Bulk Services B.V. - Netherlands
- Latin American Coal - Colombia
- Coalindo Energy - Indonesia
- Bhushan Steel Limited - India
- Iligan Light & Power Inc, Philippines
- Gujarat Sidhee Cement - India
- CNBM International Corporation - China
- The State Trading Corporation of India Ltd
- Australian Commodity Traders Exchange
- Mintek Dendrill Indonesia
- Semirara Mining Corp, Philippines
- Energy Development Corp, Philippines
- IEA Clean Coal Centre - UK
- Cigading International Bulk Terminal - Indonesia
- Energy Link Ltd, New Zealand
- New Zealand Coal & Carbon
- ICICI Bank Limited - India
- Directorate Of Revenue Intelligence - India
- Kepco SPC Power Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- IHS Mccloskey Coal Group - USA
- Standard Chartered Bank - UAE
- Maharashtra Electricity Regulatory Commission - India
- Aboitiz Power Corporation - Philippines
- Holcim Trading Pte Ltd - Singapore
- Xindia Steels Limited - India
- Grasim Industreis Ltd - India
- Bangladesh Power Developement Board
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Commonwealth Bank - Australia
- Kartika Selabumi Mining - Indonesia
- Antam Resourcindo - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Formosa Plastics Group - Taiwan
- Salva Resources Pvt Ltd - India
- Indonesian Coal Mining Association
- Minerals Council of Australia
- Coastal Gujarat Power Limited - India
- Trasteel International SA, Italy
- Global Business Power Corporation, Philippines
- Romanian Commodities Exchange
- GN Power Mariveles Coal Plant, Philippines
- Deloitte Consulting - India
- Central Java Power - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- OPG Power Generation Pvt Ltd - India
- Anglo American - United Kingdom
- Carbofer General Trading SA - India
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- Sree Jayajothi Cements Limited - India
- PetroVietnam Power Coal Import and Supply Company
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- Gujarat Mineral Development Corp Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- Orica Mining Services - Indonesia
- Interocean Group of Companies - India
- Essar Steel Hazira Ltd - India
- Bhatia International Limited - India
- Electricity Generating Authority of Thailand
- Rio Tinto Coal - Australia
- Chettinad Cement Corporation Ltd - India
- Maheswari Brothers Coal Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Eastern Coal Council - USA
- Toyota Tsusho Corporation, Japan
- Alfred C Toepfer International GmbH - Germany
- Billiton Holdings Pty Ltd - Australia
- Rashtriya Ispat Nigam Limited - India
- Orica Australia Pty. Ltd.
- Binh Thuan Hamico - Vietnam
- Kalimantan Lumbung Energi - Indonesia
- Bukit Baiduri Energy - Indonesia
- PowerSource Philippines DevCo
- MS Steel International - UAE
- Central Electricity Authority - India
- Bhoruka Overseas - Indonesia
- Parliament of New Zealand
- Borneo Indobara - Indonesia
- Heidelberg Cement - Germany
- Videocon Industries ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Barasentosa Lestari - Indonesia
- Wood Mackenzie - Singapore
- SMG Consultants - Indonesia
- Meenaskhi Energy Private Limited - India
- Kumho Petrochemical, South Korea
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Aditya Birla Group - India
- Price Waterhouse Coopers - Russia
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- Vedanta Resources Plc - India
- Sical Logistics Limited - India
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- Karaikal Port Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- Port Waratah Coal Services - Australia
- Marubeni Corporation - India
- Vizag Seaport Private Limited - India
- Larsen & Toubro Limited - India
- Leighton Contractors Pty Ltd - Australia
- Mercuria Energy - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Posco Energy - South Korea
- Bukit Makmur.PT - Indonesia
- Simpson Spence & Young - Indonesia
- Goldman Sachs - Singapore
- Tata Chemicals Ltd - India
- Thiess Contractors Indonesia
- White Energy Company Limited
- Coal and Oil Company - UAE
- Wilmar Investment Holdings
- Madhucon Powers Ltd - India
- Sindya Power Generating Company Private Ltd
- The University of Queensland
- San Jose City I Power Corp, Philippines
- Altura Mining Limited, Indonesia
- Economic Council, Georgia
- Renaissance Capital - South Africa
- Mjunction Services Limited - India
- Georgia Ports Authority, United States
- CIMB Investment Bank - Malaysia
- ASAPP Information Group - India
- Thai Mozambique Logistica
- India Bulls Power Limited - India
- Globalindo Alam Lestari - Indonesia
- Siam City Cement - Thailand
- Indika Energy - Indonesia
- TeaM Sual Corporation - Philippines
- Dalmia Cement Bharat India
- Sojitz Corporation - Japan
- Oldendorff Carriers - Singapore
- Mercator Lines Limited - India
- Timah Investasi Mineral - Indoneisa
- Uttam Galva Steels Limited - India
- Merrill Lynch Commodities Europe
- Karbindo Abesyapradhi - Indoneisa
- Indian Energy Exchange, India
- Gujarat Electricity Regulatory Commission - India
- Pendopo Energi Batubara - Indonesia
- AsiaOL BioFuels Corp., Philippines
- VISA Power Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Jindal Steel & Power Ltd - India
- Chamber of Mines of South Africa
- Savvy Resources Ltd - HongKong
- London Commodity Brokers - England
- Bayan Resources Tbk. - Indonesia
- International Coal Ventures Pvt Ltd - India
- Tamil Nadu electricity Board
- SN Aboitiz Power Inc, Philippines
- Ambuja Cements Ltd - India
- SMC Global Power, Philippines
- Kaltim Prima Coal - Indonesia
- Australian Coal Association
- Jaiprakash Power Ventures ltd
- Bharathi Cement Corporation - India
- Ind-Barath Power Infra Limited - India
- Metalloyd Limited - United Kingdom
- Ministry of Finance - Indonesia
- South Luzon Thermal Energy Corporation
- Riau Bara Harum - Indonesia
- McConnell Dowell - Australia
- Jorong Barutama Greston.PT - Indonesia
- Intertek Mineral Services - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Star Paper Mills Limited - India
- Manunggal Multi Energi - Indonesia
- Baramulti Group, Indonesia
- Edison Trading Spa - Italy
- Singapore Mercantile Exchange
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