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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, 15 September 11
BOTSWANA COAL AND ENERGY CONFERENCE 2011
Press Release - Botswana Coal and Energy Conference 2011 | 29-30 November 2011 | Gaborone. Botswana represents Africa’s exciting new coal and ...
Thursday, 15 September 11
DRY BULK MARKET EDGING FURTHER UP THE SCALE, CLOSING IN ON 2,000 POINTS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market was up once again yesterday, reaching 1,927 points, or 1.375 higher on the day. Thus, it has kept its rising trend established d ...
Wednesday, 14 September 11
INDO STRAITS BAGS 2.4 MILLION TON COAL TRANSPORTATION CONTRACT FROM ARUTMIN
COALspot.com - PT Indo Straits Tbk (PTIS) bagged a contract to tranship about 2.40 million tons of coal over an initial period of 6 months fro ...
Wednesday, 14 September 11
DUTA PERTIWI DISCOVERS COAL RESERVE - INSIDER STORIES
Insider Stories reported that, PT Duta Pertiwi Nusantara Tbk (DPNS) yesterday steeply jumped 24.56% to Rp710 a share after the company discove ...
Wednesday, 14 September 11
GOVT SETS SEPTEMBER COAL REFERENCE PRICE AT $116.26 PER TON
COALspot.com - Ministry of Energy and Mineral Resources of Indonesia has set the September 2011 coal reference price at US$ 116.26 per ton slightly ...
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- Metalloyd Limited - United Kingdom
- Electricity Generating Authority of Thailand
- Vizag Seaport Private Limited - India
- Australian Commodity Traders Exchange
- Offshore Bulk Terminal Pte Ltd, Singapore
- Formosa Plastics Group - Taiwan
- Kohat Cement Company Ltd. - Pakistan
- Savvy Resources Ltd - HongKong
- Semirara Mining Corp, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- IEA Clean Coal Centre - UK
- Wood Mackenzie - Singapore
- Chamber of Mines of South Africa
- Jaiprakash Power Ventures ltd
- Ind-Barath Power Infra Limited - India
- Sarangani Energy Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- Sical Logistics Limited - India
- TeaM Sual Corporation - Philippines
- Eastern Coal Council - USA
- Bangladesh Power Developement Board
- Mercuria Energy - Indonesia
- SN Aboitiz Power Inc, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bukit Makmur.PT - Indonesia
- Wilmar Investment Holdings
- Baramulti Group, Indonesia
- Pendopo Energi Batubara - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Malabar Cements Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Star Paper Mills Limited - India
- Bharathi Cement Corporation - India
- Economic Council, Georgia
- Australian Coal Association
- Karaikal Port Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- IHS Mccloskey Coal Group - USA
- Coastal Gujarat Power Limited - India
- Parry Sugars Refinery, India
- Ministry of Mines - Canada
- Bulk Trading Sa - Switzerland
- Singapore Mercantile Exchange
- GAC Shipping (India) Pvt Ltd
- GN Power Mariveles Coal Plant, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Tamil Nadu electricity Board
- Barasentosa Lestari - Indonesia
- Riau Bara Harum - Indonesia
- Attock Cement Pakistan Limited
- Ambuja Cements Ltd - India
- Bukit Baiduri Energy - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Antam Resourcindo - Indonesia
- Vedanta Resources Plc - India
- Coalindo Energy - Indonesia
- Jindal Steel & Power Ltd - India
- CIMB Investment Bank - Malaysia
- TNB Fuel Sdn Bhd - Malaysia
- Straits Asia Resources Limited - Singapore
- Mintek Dendrill Indonesia
- Meralco Power Generation, Philippines
- Energy Link Ltd, New Zealand
- Sakthi Sugars Limited - India
- Latin American Coal - Colombia
- Mercator Lines Limited - India
- Grasim Industreis Ltd - India
- Kideco Jaya Agung - Indonesia
- Bhoruka Overseas - Indonesia
- Lanco Infratech Ltd - India
- Carbofer General Trading SA - India
- Port Waratah Coal Services - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Minerals Council of Australia
- Salva Resources Pvt Ltd - India
- ICICI Bank Limited - India
- Coal and Oil Company - UAE
- Thiess Contractors Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bhatia International Limited - India
- Maheswari Brothers Coal Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Gujarat Sidhee Cement - India
- Electricity Authority, New Zealand
- Leighton Contractors Pty Ltd - Australia
- Rashtriya Ispat Nigam Limited - India
- Dalmia Cement Bharat India
- Independent Power Producers Association of India
- LBH Netherlands Bv - Netherlands
- Toyota Tsusho Corporation, Japan
- PowerSource Philippines DevCo
- Altura Mining Limited, Indonesia
- Asmin Koalindo Tuhup - Indonesia
- PNOC Exploration Corporation - Philippines
- Kapuas Tunggal Persada - Indonesia
- Indogreen Group - Indonesia
- Commonwealth Bank - Australia
- Meenaskhi Energy Private Limited - India
- MS Steel International - UAE
- Parliament of New Zealand
- Directorate General of MIneral and Coal - Indonesia
- Georgia Ports Authority, United States
- Energy Development Corp, Philippines
- Orica Mining Services - Indonesia
- Essar Steel Hazira Ltd - India
- Uttam Galva Steels Limited - India
- Gujarat Electricity Regulatory Commission - India
- Kumho Petrochemical, South Korea
- McConnell Dowell - Australia
- The University of Queensland
- Siam City Cement - Thailand
- Africa Commodities Group - South Africa
- Chettinad Cement Corporation Ltd - India
- Oldendorff Carriers - Singapore
- Aboitiz Power Corporation - Philippines
- Heidelberg Cement - Germany
- Merrill Lynch Commodities Europe
- PetroVietnam Power Coal Import and Supply Company
- CNBM International Corporation - China
- Price Waterhouse Coopers - Russia
- Standard Chartered Bank - UAE
- Petrochimia International Co. Ltd.- Taiwan
- Pipit Mutiara Jaya. PT, Indonesia
- GVK Power & Infra Limited - India
- SMG Consultants - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- ASAPP Information Group - India
- Petron Corporation, Philippines
- PTC India Limited - India
- Bayan Resources Tbk. - Indonesia
- Aditya Birla Group - India
- Maharashtra Electricity Regulatory Commission - India
- Bhushan Steel Limited - India
- South Luzon Thermal Energy Corporation
- Marubeni Corporation - India
- Anglo American - United Kingdom
- Bank of Tokyo Mitsubishi UFJ Ltd
- Binh Thuan Hamico - Vietnam
- Global Green Power PLC Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- White Energy Company Limited
- Kepco SPC Power Corporation, Philippines
- Eastern Energy - Thailand
- Indo Tambangraya Megah - Indonesia
- Central Electricity Authority - India
- SMC Global Power, Philippines
- Makarim & Taira - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Tata Chemicals Ltd - India
- Sree Jayajothi Cements Limited - India
- Indonesian Coal Mining Association
- GMR Energy Limited - India
- Timah Investasi Mineral - Indoneisa
- Krishnapatnam Port Company Ltd. - India
- India Bulls Power Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Posco Energy - South Korea
- Xindia Steels Limited - India
- European Bulk Services B.V. - Netherlands
- The State Trading Corporation of India Ltd
- Ceylon Electricity Board - Sri Lanka
- Ministry of Transport, Egypt
- Interocean Group of Companies - India
- Agrawal Coal Company - India
- Rio Tinto Coal - Australia
- The Treasury - Australian Government
- Samtan Co., Ltd - South Korea
- Mjunction Services Limited - India
- Intertek Mineral Services - Indonesia
- Orica Australia Pty. Ltd.
- London Commodity Brokers - England
- Billiton Holdings Pty Ltd - Australia
- Kobexindo Tractors - Indoneisa
- Iligan Light & Power Inc, Philippines
- San Jose City I Power Corp, Philippines
- Central Java Power - Indonesia
- Romanian Commodities Exchange
- Power Finance Corporation Ltd., India
- Sojitz Corporation - Japan
- Renaissance Capital - South Africa
- Semirara Mining and Power Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- Cement Manufacturers Association - India
- OPG Power Generation Pvt Ltd - India
- Medco Energi Mining Internasional
- Indian Oil Corporation Limited
- New Zealand Coal & Carbon
- Trasteel International SA, Italy
- Gujarat Mineral Development Corp Ltd - India
- Indika Energy - Indonesia
- Directorate Of Revenue Intelligence - India
- Banpu Public Company Limited - Thailand
- Thai Mozambique Logistica
- Larsen & Toubro Limited - India
- Sinarmas Energy and Mining - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Madhucon Powers Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Siam City Cement PLC, Thailand
- Global Coal Blending Company Limited - Australia
- Global Business Power Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- Planning Commission, India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indian Energy Exchange, India
- Vijayanagar Sugar Pvt Ltd - India
- Goldman Sachs - Singapore
- Therma Luzon, Inc, Philippines
- Simpson Spence & Young - Indonesia
- Edison Trading Spa - Italy
- Videocon Industries ltd - India
- Borneo Indobara - Indonesia
- Ministry of Finance - Indonesia
- VISA Power Limited - India
- Deloitte Consulting - India
- Kaltim Prima Coal - Indonesia
- Kartika Selabumi Mining - Indonesia
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