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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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Saturday, 17 September 11
GVK ACQUIRES HANCOCK COAL AND INFRASTRUCTURE FOR US$ 1.26 BILLION
COALspot.com - GVK group, India’s leading infrastructure developer,confirmed arrangements for the acquisition of a strategic part of large, hi ...
Saturday, 17 September 11
INDIA'S GVK ACQUIRES HANCOCK COAL AND INFRASTRUCTURE PROJECTS IN AUSTRALIA
COALspot.com - GVK group, India’s leading infrastructure developer, today confirmed arrangements for the acquisition of a strategic part of la ...
Friday, 16 September 11
DELTA DUNIA MAKMUR REMOVED 30.9 MILLION BCM OVERBURDEN IN AUGUST 2011
COALspot.com - PT. Delta Dunia Makmur Tbk has removed 30.9 million bcm (+13.2% YoY) overburden in August 2011 while coal production was at 2.9 ...
Thursday, 15 September 11
RUSSIAN COAL EXPORTS UP 10.9% IN JAN-AUG TO 71.50 MILLION TONS - PORT NEWS / HELLENIC SHIPPING
Port News reported that, Coal exports from Russia in January-August 2011 grew by 10.9% compared with the same period last year, to 71.50 million ton ...
Thursday, 15 September 11
INDIAN GOVT PLANS TO DEVELOP 9 NEW MAJOR PORTS BY 2016 - INVEST MONEY / HELLENIC SHIPPING
The government has announced to make a investment of more than Rs 22,000 crore (approximately US$ 4,623,791,331) to develop nine new major ...
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- Ceylon Electricity Board - Sri Lanka
- Aboitiz Power Corporation - Philippines
- London Commodity Brokers - England
- Oldendorff Carriers - Singapore
- Mercator Lines Limited - India
- Jindal Steel & Power Ltd - India
- Karaikal Port Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Intertek Mineral Services - Indonesia
- Salva Resources Pvt Ltd - India
- GMR Energy Limited - India
- SMC Global Power, Philippines
- Krishnapatnam Port Company Ltd. - India
- Bhoruka Overseas - Indonesia
- Interocean Group of Companies - India
- Global Green Power PLC Corporation, Philippines
- Simpson Spence & Young - Indonesia
- Sical Logistics Limited - India
- Vizag Seaport Private Limited - India
- Bharathi Cement Corporation - India
- Holcim Trading Pte Ltd - Singapore
- Makarim & Taira - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- Uttam Galva Steels Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Alfred C Toepfer International GmbH - Germany
- OPG Power Generation Pvt Ltd - India
- Baramulti Group, Indonesia
- Tata Chemicals Ltd - India
- Lanco Infratech Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Petron Corporation, Philippines
- Energy Development Corp, Philippines
- Meenaskhi Energy Private Limited - India
- Kartika Selabumi Mining - Indonesia
- Carbofer General Trading SA - India
- PetroVietnam Power Coal Import and Supply Company
- Thiess Contractors Indonesia
- White Energy Company Limited
- SMG Consultants - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ministry of Transport, Egypt
- Kideco Jaya Agung - Indonesia
- Kobexindo Tractors - Indoneisa
- Electricity Authority, New Zealand
- Therma Luzon, Inc, Philippines
- International Coal Ventures Pvt Ltd - India
- Goldman Sachs - Singapore
- Planning Commission, India
- Kumho Petrochemical, South Korea
- Aditya Birla Group - India
- VISA Power Limited - India
- ICICI Bank Limited - India
- MS Steel International - UAE
- Leighton Contractors Pty Ltd - Australia
- Trasteel International SA, Italy
- Rashtriya Ispat Nigam Limited - India
- Ambuja Cements Ltd - India
- Latin American Coal - Colombia
- Cement Manufacturers Association - India
- IEA Clean Coal Centre - UK
- Bukit Baiduri Energy - Indonesia
- CIMB Investment Bank - Malaysia
- Tamil Nadu electricity Board
- Global Coal Blending Company Limited - Australia
- Borneo Indobara - Indonesia
- Pendopo Energi Batubara - Indonesia
- Orica Mining Services - Indonesia
- Dalmia Cement Bharat India
- Videocon Industries ltd - India
- Samtan Co., Ltd - South Korea
- Merrill Lynch Commodities Europe
- Mintek Dendrill Indonesia
- McConnell Dowell - Australia
- Kaltim Prima Coal - Indonesia
- GVK Power & Infra Limited - India
- Coal and Oil Company - UAE
- Parry Sugars Refinery, India
- Star Paper Mills Limited - India
- Ind-Barath Power Infra Limited - India
- The State Trading Corporation of India Ltd
- Gujarat Mineral Development Corp Ltd - India
- PNOC Exploration Corporation - Philippines
- Binh Thuan Hamico - Vietnam
- Bayan Resources Tbk. - Indonesia
- Indian Energy Exchange, India
- Standard Chartered Bank - UAE
- Kapuas Tunggal Persada - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Renaissance Capital - South Africa
- Global Business Power Corporation, Philippines
- Metalloyd Limited - United Kingdom
- Chamber of Mines of South Africa
- Bhatia International Limited - India
- Orica Australia Pty. Ltd.
- Power Finance Corporation Ltd., India
- Indonesian Coal Mining Association
- Cigading International Bulk Terminal - Indonesia
- Electricity Generating Authority of Thailand
- Kalimantan Lumbung Energi - Indonesia
- Georgia Ports Authority, United States
- Kohat Cement Company Ltd. - Pakistan
- Sindya Power Generating Company Private Ltd
- Edison Trading Spa - Italy
- New Zealand Coal & Carbon
- Neyveli Lignite Corporation Ltd, - India
- Wood Mackenzie - Singapore
- ASAPP Information Group - India
- Africa Commodities Group - South Africa
- Kepco SPC Power Corporation, Philippines
- Vedanta Resources Plc - India
- Sinarmas Energy and Mining - Indonesia
- GAC Shipping (India) Pvt Ltd
- Indogreen Group - Indonesia
- Central Electricity Authority - India
- Coalindo Energy - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Gujarat Sidhee Cement - India
- Commonwealth Bank - Australia
- Mjunction Services Limited - India
- Price Waterhouse Coopers - Russia
- Sree Jayajothi Cements Limited - India
- Parliament of New Zealand
- Sojitz Corporation - Japan
- Xindia Steels Limited - India
- Wilmar Investment Holdings
- Bank of Tokyo Mitsubishi UFJ Ltd
- Heidelberg Cement - Germany
- Malabar Cements Ltd - India
- Attock Cement Pakistan Limited
- Offshore Bulk Terminal Pte Ltd, Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- Maheswari Brothers Coal Limited - India
- Eastern Energy - Thailand
- Petrochimia International Co. Ltd.- Taiwan
- Savvy Resources Ltd - HongKong
- PTC India Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Timah Investasi Mineral - Indoneisa
- Altura Mining Limited, Indonesia
- Straits Asia Resources Limited - Singapore
- Rio Tinto Coal - Australia
- San Jose City I Power Corp, Philippines
- Posco Energy - South Korea
- IHS Mccloskey Coal Group - USA
- Thai Mozambique Logistica
- Indo Tambangraya Megah - Indonesia
- Australian Coal Association
- Chettinad Cement Corporation Ltd - India
- The University of Queensland
- Economic Council, Georgia
- Australian Commodity Traders Exchange
- AsiaOL BioFuels Corp., Philippines
- Sarangani Energy Corporation, Philippines
- Energy Link Ltd, New Zealand
- LBH Netherlands Bv - Netherlands
- Globalindo Alam Lestari - Indonesia
- Medco Energi Mining Internasional
- Port Waratah Coal Services - Australia
- Toyota Tsusho Corporation, Japan
- TNB Fuel Sdn Bhd - Malaysia
- Essar Steel Hazira Ltd - India
- Siam City Cement - Thailand
- Romanian Commodities Exchange
- Barasentosa Lestari - Indonesia
- SN Aboitiz Power Inc, Philippines
- Directorate Of Revenue Intelligence - India
- Sakthi Sugars Limited - India
- Antam Resourcindo - Indonesia
- Riau Bara Harum - Indonesia
- Grasim Industreis Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- The Treasury - Australian Government
- Larsen & Toubro Limited - India
- PowerSource Philippines DevCo
- Bangladesh Power Developement Board
- Bulk Trading Sa - Switzerland
- Directorate General of MIneral and Coal - Indonesia
- Meralco Power Generation, Philippines
- Banpu Public Company Limited - Thailand
- Karbindo Abesyapradhi - Indoneisa
- Maharashtra Electricity Regulatory Commission - India
- GN Power Mariveles Coal Plant, Philippines
- Eastern Coal Council - USA
- Semirara Mining Corp, Philippines
- Independent Power Producers Association of India
- Singapore Mercantile Exchange
- Indian Oil Corporation Limited
- India Bulls Power Limited - India
- European Bulk Services B.V. - Netherlands
- Mercuria Energy - Indonesia
- Madhucon Powers Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Deloitte Consulting - India
- Central Java Power - Indonesia
- Ministry of Mines - Canada
- Anglo American - United Kingdom
- Siam City Cement PLC, Thailand
- Coastal Gujarat Power Limited - India
- Ministry of Finance - Indonesia
- TeaM Sual Corporation - Philippines
- Manunggal Multi Energi - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Jorong Barutama Greston.PT - Indonesia
- Indika Energy - Indonesia
- Marubeni Corporation - India
- Minerals Council of Australia
- Agrawal Coal Company - India
- Formosa Plastics Group - Taiwan
- Bhushan Steel Limited - India
- Iligan Light & Power Inc, Philippines
- Bukit Makmur.PT - Indonesia
- CNBM International Corporation - China
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