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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, 09 September 11
SUPRA BARA SECURES $20 MILLION LOAN - JP
The Jakarta Post reported that, Coal miner PT Supra Bara Energi says it has secured a US$20 million loan facility from BNP Paribas to buy heavy equi ...
Friday, 09 September 11
CAPESIZE CAN SECURE USD 17-18K SHORT PERIOD - FEARNBULK
Handy
The US Gulf has remained relatively steady, slightly more activity in the South Atlantic with owners aiming for low to mid USD 20k´s f ...
Thursday, 08 September 11
UKRAINES COAL PRODUCTION TO RISE 8% - IFANDP
Industrial fuels & power reported that, Ukraine will increase its coal output by about 8% this year compared to last year, said the country&rsqu ...
Thursday, 08 September 11
DRY BULK MARKETS RALLY COMES TO AN END - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
As was widely expected by analysts and shipbrokers alike, the latest rally of the dry bulk market came to a halt yesterday, with the Baltic Dry Inde ...
Thursday, 08 September 11
TRADA MARITIME BUYS GUNUNG BARA UTAMA
Insider Stories reported that, PT Trada Maritime Tbk (TRAM) has purchased convertible bonds issued by PT Awesome Coal from Zakia Limited. The memora ...
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- Star Paper Mills Limited - India
- IEA Clean Coal Centre - UK
- Toyota Tsusho Corporation, Japan
- Intertek Mineral Services - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Chamber of Mines of South Africa
- Baramulti Group, Indonesia
- Planning Commission, India
- Iligan Light & Power Inc, Philippines
- Port Waratah Coal Services - Australia
- Lanco Infratech Ltd - India
- Rio Tinto Coal - Australia
- MS Steel International - UAE
- Chettinad Cement Corporation Ltd - India
- Samtan Co., Ltd - South Korea
- Straits Asia Resources Limited - Singapore
- Vizag Seaport Private Limited - India
- Banpu Public Company Limited - Thailand
- Commonwealth Bank - Australia
- Petron Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- New Zealand Coal & Carbon
- Australian Coal Association
- Eastern Coal Council - USA
- Bank of Tokyo Mitsubishi UFJ Ltd
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Mercuria Energy - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Price Waterhouse Coopers - Russia
- Meralco Power Generation, Philippines
- Coal and Oil Company - UAE
- Sical Logistics Limited - India
- Maheswari Brothers Coal Limited - India
- Kartika Selabumi Mining - Indonesia
- Latin American Coal - Colombia
- Global Business Power Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Coastal Gujarat Power Limited - India
- Romanian Commodities Exchange
- Tata Chemicals Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Kideco Jaya Agung - Indonesia
- Trasteel International SA, Italy
- Bhoruka Overseas - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Kumho Petrochemical, South Korea
- Mercator Lines Limited - India
- Neyveli Lignite Corporation Ltd, - India
- The University of Queensland
- Posco Energy - South Korea
- Offshore Bulk Terminal Pte Ltd, Singapore
- Tamil Nadu electricity Board
- Salva Resources Pvt Ltd - India
- Parry Sugars Refinery, India
- Cigading International Bulk Terminal - Indonesia
- The State Trading Corporation of India Ltd
- Ambuja Cements Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Deloitte Consulting - India
- Krishnapatnam Port Company Ltd. - India
- Marubeni Corporation - India
- London Commodity Brokers - England
- Formosa Plastics Group - Taiwan
- Indo Tambangraya Megah - Indonesia
- Siam City Cement - Thailand
- Indian Energy Exchange, India
- Antam Resourcindo - Indonesia
- Sindya Power Generating Company Private Ltd
- Karaikal Port Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- PNOC Exploration Corporation - Philippines
- Uttam Galva Steels Limited - India
- Aboitiz Power Corporation - Philippines
- LBH Netherlands Bv - Netherlands
- Kalimantan Lumbung Energi - Indonesia
- Medco Energi Mining Internasional
- Bharathi Cement Corporation - India
- Siam City Cement PLC, Thailand
- Miang Besar Coal Terminal - Indonesia
- Mjunction Services Limited - India
- SN Aboitiz Power Inc, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Bhushan Steel Limited - India
- Attock Cement Pakistan Limited
- Karbindo Abesyapradhi - Indoneisa
- Timah Investasi Mineral - Indoneisa
- Therma Luzon, Inc, Philippines
- Semirara Mining Corp, Philippines
- Kaltim Prima Coal - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sree Jayajothi Cements Limited - India
- Xindia Steels Limited - India
- Thiess Contractors Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Aditya Birla Group - India
- Anglo American - United Kingdom
- Binh Thuan Hamico - Vietnam
- Georgia Ports Authority, United States
- Essar Steel Hazira Ltd - India
- Indian Oil Corporation Limited
- Madhucon Powers Ltd - India
- Bukit Makmur.PT - Indonesia
- Jindal Steel & Power Ltd - India
- Bayan Resources Tbk. - Indonesia
- Indonesian Coal Mining Association
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Electricity Authority, New Zealand
- Grasim Industreis Ltd - India
- Vedanta Resources Plc - India
- PetroVietnam Power Coal Import and Supply Company
- Bukit Asam (Persero) Tbk - Indonesia
- Cement Manufacturers Association - India
- GMR Energy Limited - India
- Energy Link Ltd, New Zealand
- ICICI Bank Limited - India
- Global Green Power PLC Corporation, Philippines
- GVK Power & Infra Limited - India
- Economic Council, Georgia
- Dalmia Cement Bharat India
- Thai Mozambique Logistica
- Kobexindo Tractors - Indoneisa
- Manunggal Multi Energi - Indonesia
- Metalloyd Limited - United Kingdom
- Parliament of New Zealand
- Renaissance Capital - South Africa
- Savvy Resources Ltd - HongKong
- VISA Power Limited - India
- Standard Chartered Bank - UAE
- Africa Commodities Group - South Africa
- Jorong Barutama Greston.PT - Indonesia
- Altura Mining Limited, Indonesia
- PTC India Limited - India
- Singapore Mercantile Exchange
- Agrawal Coal Company - India
- Malabar Cements Ltd - India
- SMG Consultants - Indonesia
- AsiaOL BioFuels Corp., Philippines
- International Coal Ventures Pvt Ltd - India
- Central Electricity Authority - India
- Ministry of Mines - Canada
- Videocon Industries ltd - India
- GAC Shipping (India) Pvt Ltd
- Wood Mackenzie - Singapore
- Gujarat Mineral Development Corp Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- Indika Energy - Indonesia
- Sojitz Corporation - Japan
- Petrochimia International Co. Ltd.- Taiwan
- Bulk Trading Sa - Switzerland
- Gujarat Sidhee Cement - India
- Sinarmas Energy and Mining - Indonesia
- Oldendorff Carriers - Singapore
- Ministry of Finance - Indonesia
- Larsen & Toubro Limited - India
- Goldman Sachs - Singapore
- TeaM Sual Corporation - Philippines
- San Jose City I Power Corp, Philippines
- PowerSource Philippines DevCo
- Globalindo Alam Lestari - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Indogreen Group - Indonesia
- Kepco SPC Power Corporation, Philippines
- Barasentosa Lestari - Indonesia
- Orica Australia Pty. Ltd.
- Coalindo Energy - Indonesia
- OPG Power Generation Pvt Ltd - India
- Interocean Group of Companies - India
- Pendopo Energi Batubara - Indonesia
- Mintek Dendrill Indonesia
- Maharashtra Electricity Regulatory Commission - India
- SMC Global Power, Philippines
- Independent Power Producers Association of India
- Energy Development Corp, Philippines
- European Bulk Services B.V. - Netherlands
- Pipit Mutiara Jaya. PT, Indonesia
- Sarangani Energy Corporation, Philippines
- Edison Trading Spa - Italy
- CNBM International Corporation - China
- Electricity Generating Authority of Thailand
- Directorate Of Revenue Intelligence - India
- Simpson Spence & Young - Indonesia
- Makarim & Taira - Indonesia
- White Energy Company Limited
- IHS Mccloskey Coal Group - USA
- Eastern Energy - Thailand
- GN Power Mariveles Coal Plant, Philippines
- Wilmar Investment Holdings
- Global Coal Blending Company Limited - Australia
- ASAPP Information Group - India
- Alfred C Toepfer International GmbH - Germany
- Australian Commodity Traders Exchange
- McConnell Dowell - Australia
- Bukit Baiduri Energy - Indonesia
- Minerals Council of Australia
- Orica Mining Services - Indonesia
- South Luzon Thermal Energy Corporation
- Billiton Holdings Pty Ltd - Australia
- Ind-Barath Power Infra Limited - India
- Bhatia International Limited - India
- Ministry of Transport, Egypt
- Power Finance Corporation Ltd., India
- Carbofer General Trading SA - India
- TNB Fuel Sdn Bhd - Malaysia
- Leighton Contractors Pty Ltd - Australia
- Heidelberg Cement - Germany
- Bangladesh Power Developement Board
- Borneo Indobara - Indonesia
- Jaiprakash Power Ventures ltd
- Central Java Power - Indonesia
- India Bulls Power Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Sakthi Sugars Limited - India
- The Treasury - Australian Government
- Merrill Lynch Commodities Europe
- Riau Bara Harum - Indonesia
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