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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, 06 September 11
SEMEN GRESIK TO ACQUIRE COAL MINE FOR RP. 1 TRILLION
COALspot.com - PT Semen Gresik Tbk (SMGR) is planning to acquire a low calorific value coal concession (IUP). According to Semen Gresik, the coal mi ...
Tuesday, 06 September 11
DRY BULK MARKETS RALLY POWERS THROUGH TO NEW WEEK, BUT A CORRECTION COULD BE OVERDUE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market’s freights rates kept leaping forwards during the beginning of the week, with the industry’s benchmark, the Baltic D ...
Monday, 05 September 11
TNPL POSTPONES BID OPENING UNTIL 12 SEPTEMBER 2011
COALspot.com - TNPL has postponed submission of the offer until 12 September 2011 on request from the supplier, an Indian trader said.
Due to Ram ...
Monday, 05 September 11
INDONESIAN COAL BENCHMARK PRICE - ANALYSIS
Analyst : Sunil K Kumbhat
COALspot.com - As a part of the Government’s efforts to stop transfer pricing abuses which have resulted in the los ...
Saturday, 03 September 11
FEW SHIPS REPORTED FIXED FROM INDONESIA TO INDIA - VISTAAR
COALspot.com - The freight market continued the upward trend during last week with BDI up by about 13 pct closing at 1,740 points and cape index up ...
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- Eastern Coal Council - USA
- Billiton Holdings Pty Ltd - Australia
- Wilmar Investment Holdings
- The State Trading Corporation of India Ltd
- GVK Power & Infra Limited - India
- Indogreen Group - Indonesia
- Central Java Power - Indonesia
- Bangladesh Power Developement Board
- AsiaOL BioFuels Corp., Philippines
- Asmin Koalindo Tuhup - Indonesia
- Australian Coal Association
- Jindal Steel & Power Ltd - India
- Oldendorff Carriers - Singapore
- Barasentosa Lestari - Indonesia
- Semirara Mining Corp, Philippines
- Renaissance Capital - South Africa
- Mercuria Energy - Indonesia
- Savvy Resources Ltd - HongKong
- Sarangani Energy Corporation, Philippines
- Deloitte Consulting - India
- Bayan Resources Tbk. - Indonesia
- Indonesian Coal Mining Association
- Port Waratah Coal Services - Australia
- Orica Australia Pty. Ltd.
- Formosa Plastics Group - Taiwan
- Wood Mackenzie - Singapore
- Aboitiz Power Corporation - Philippines
- Manunggal Multi Energi - Indonesia
- Globalindo Alam Lestari - Indonesia
- Therma Luzon, Inc, Philippines
- Commonwealth Bank - Australia
- Aditya Birla Group - India
- GAC Shipping (India) Pvt Ltd
- Grasim Industreis Ltd - India
- Meralco Power Generation, Philippines
- Indika Energy - Indonesia
- International Coal Ventures Pvt Ltd - India
- Orica Mining Services - Indonesia
- Edison Trading Spa - Italy
- Borneo Indobara - Indonesia
- Malabar Cements Ltd - India
- Global Coal Blending Company Limited - Australia
- Indo Tambangraya Megah - Indonesia
- TeaM Sual Corporation - Philippines
- Gujarat Electricity Regulatory Commission - India
- Kohat Cement Company Ltd. - Pakistan
- Star Paper Mills Limited - India
- Ministry of Transport, Egypt
- The University of Queensland
- Baramulti Group, Indonesia
- Bharathi Cement Corporation - India
- Mercator Lines Limited - India
- OPG Power Generation Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Planning Commission, India
- Makarim & Taira - Indonesia
- CNBM International Corporation - China
- SN Aboitiz Power Inc, Philippines
- Minerals Council of Australia
- San Jose City I Power Corp, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Coalindo Energy - Indonesia
- Sindya Power Generating Company Private Ltd
- Bhatia International Limited - India
- CIMB Investment Bank - Malaysia
- MS Steel International - UAE
- Videocon Industries ltd - India
- PowerSource Philippines DevCo
- Xindia Steels Limited - India
- Singapore Mercantile Exchange
- Posco Energy - South Korea
- TNB Fuel Sdn Bhd - Malaysia
- London Commodity Brokers - England
- VISA Power Limited - India
- Binh Thuan Hamico - Vietnam
- Price Waterhouse Coopers - Russia
- Sree Jayajothi Cements Limited - India
- PNOC Exploration Corporation - Philippines
- Gujarat Sidhee Cement - India
- Thiess Contractors Indonesia
- Meenaskhi Energy Private Limited - India
- Attock Cement Pakistan Limited
- Chamber of Mines of South Africa
- Maheswari Brothers Coal Limited - India
- Medco Energi Mining Internasional
- Energy Link Ltd, New Zealand
- Banpu Public Company Limited - Thailand
- Standard Chartered Bank - UAE
- Kepco SPC Power Corporation, Philippines
- Ambuja Cements Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Bhushan Steel Limited - India
- Vedanta Resources Plc - India
- Eastern Energy - Thailand
- Kaltim Prima Coal - Indonesia
- Jaiprakash Power Ventures ltd
- Bulk Trading Sa - Switzerland
- Marubeni Corporation - India
- Krishnapatnam Port Company Ltd. - India
- Pendopo Energi Batubara - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Ministry of Finance - Indonesia
- Anglo American - United Kingdom
- Essar Steel Hazira Ltd - India
- Global Business Power Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Parry Sugars Refinery, India
- PTC India Limited - India
- Coastal Gujarat Power Limited - India
- Rio Tinto Coal - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kumho Petrochemical, South Korea
- Chettinad Cement Corporation Ltd - India
- Sical Logistics Limited - India
- Carbofer General Trading SA - India
- Alfred C Toepfer International GmbH - Germany
- Bukit Baiduri Energy - Indonesia
- Goldman Sachs - Singapore
- Toyota Tsusho Corporation, Japan
- Cigading International Bulk Terminal - Indonesia
- Sojitz Corporation - Japan
- Ind-Barath Power Infra Limited - India
- Uttam Galva Steels Limited - India
- Salva Resources Pvt Ltd - India
- Thai Mozambique Logistica
- Siam City Cement - Thailand
- Merrill Lynch Commodities Europe
- Cement Manufacturers Association - India
- The Treasury - Australian Government
- Ministry of Mines - Canada
- Interocean Group of Companies - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kapuas Tunggal Persada - Indonesia
- Africa Commodities Group - South Africa
- Indian Oil Corporation Limited
- European Bulk Services B.V. - Netherlands
- Madhucon Powers Ltd - India
- Bukit Makmur.PT - Indonesia
- Economic Council, Georgia
- Georgia Ports Authority, United States
- Romanian Commodities Exchange
- Directorate Of Revenue Intelligence - India
- Mintek Dendrill Indonesia
- Siam City Cement PLC, Thailand
- Central Electricity Authority - India
- Antam Resourcindo - Indonesia
- McConnell Dowell - Australia
- Trasteel International SA, Italy
- IHS Mccloskey Coal Group - USA
- Jorong Barutama Greston.PT - Indonesia
- Sakthi Sugars Limited - India
- Larsen & Toubro Limited - India
- Energy Development Corp, Philippines
- Tamil Nadu electricity Board
- Kartika Selabumi Mining - Indonesia
- Riau Bara Harum - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Intertek Mineral Services - Indonesia
- Electricity Authority, New Zealand
- Altura Mining Limited, Indonesia
- Petron Corporation, Philippines
- Parliament of New Zealand
- SMC Global Power, Philippines
- Metalloyd Limited - United Kingdom
- Heidelberg Cement - Germany
- Ceylon Electricity Board - Sri Lanka
- GMR Energy Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- South Luzon Thermal Energy Corporation
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Samtan Co., Ltd - South Korea
- Tata Chemicals Ltd - India
- Australian Commodity Traders Exchange
- Vizag Seaport Private Limited - India
- LBH Netherlands Bv - Netherlands
- IEA Clean Coal Centre - UK
- Coal and Oil Company - UAE
- Indian Energy Exchange, India
- GN Power Mariveles Coal Plant, Philippines
- Dalmia Cement Bharat India
- SMG Consultants - Indonesia
- India Bulls Power Limited - India
- White Energy Company Limited
- Agrawal Coal Company - India
- Bhoruka Overseas - Indonesia
- Global Green Power PLC Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- PetroVietnam Power Coal Import and Supply Company
- Mjunction Services Limited - India
- Timah Investasi Mineral - Indoneisa
- Simpson Spence & Young - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Iligan Light & Power Inc, Philippines
- Latin American Coal - Colombia
- Karbindo Abesyapradhi - Indoneisa
- New Zealand Coal & Carbon
- Rashtriya Ispat Nigam Limited - India
- Electricity Generating Authority of Thailand
- Independent Power Producers Association of India
- Lanco Infratech Ltd - India
- Straits Asia Resources Limited - Singapore
- Power Finance Corporation Ltd., India
- Gujarat Mineral Development Corp Ltd - India
- Kideco Jaya Agung - Indonesia
- Sinarmas Energy and Mining - Indonesia
- ICICI Bank Limited - India
- Holcim Trading Pte Ltd - Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Leighton Contractors Pty Ltd - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Karaikal Port Pvt Ltd - India
- ASAPP Information Group - India
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