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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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Sunday, 28 August 11
FREIGHT MARKET COULD BE FIRM NEXT MONTH - VISTAAR
COALspot.com - The freight market continued the upward trend first half of the week . However, towards the end of the week lost momentum and the BDI ...
Saturday, 27 August 11
JAPANESE BULK CARRIER SETS RECORD ON NORTHERN SEA ROUTE - BARENTS OBSERVER
The Northern Sea Route will see its third record in less than a month when the largest ever bulk carrier to take the route leaves Murmansk next week ...
Saturday, 27 August 11
RBCT-INDIA ROUNDS FIXED AT AROUND US$ 12K - FEARNBULK
Handy
Stable but very positional markets across all segments in the Atlantic: the gap between owners and charterers rate ideas is building up as o ...
Friday, 26 August 11
TUAH TURANGGA AGUNG ACQUIRES AN ADDITIONAL 40% SHARES IN BARA PRIMA AGUNG
COALspot.com - PT Tuah Turangga Agung, a subsidiary of PT United Tractors Tbk, has signed an acquisition agreement to acquire 40% of PT Bara Prima A ...
Friday, 26 August 11
INTRACO EYES US$200 MIO COAL TAKEOVER - INSIDER STORIES
Heavy equipment distributor PT Intraco Penta Tbk, that was founded by Halex Halim, is scouting a coal acquisition with the valuation above US$200 mi ...
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- Directorate Of Revenue Intelligence - India
- Singapore Mercantile Exchange
- Indian Oil Corporation Limited
- Essar Steel Hazira Ltd - India
- Kumho Petrochemical, South Korea
- Petron Corporation, Philippines
- Vedanta Resources Plc - India
- Maheswari Brothers Coal Limited - India
- Sinarmas Energy and Mining - Indonesia
- Coastal Gujarat Power Limited - India
- Orica Mining Services - Indonesia
- Star Paper Mills Limited - India
- CNBM International Corporation - China
- Gujarat Sidhee Cement - India
- Cement Manufacturers Association - India
- Sakthi Sugars Limited - India
- GN Power Mariveles Coal Plant, Philippines
- South Luzon Thermal Energy Corporation
- SN Aboitiz Power Inc, Philippines
- Bayan Resources Tbk. - Indonesia
- Formosa Plastics Group - Taiwan
- Sarangani Energy Corporation, Philippines
- Jaiprakash Power Ventures ltd
- Posco Energy - South Korea
- Indika Energy - Indonesia
- Banpu Public Company Limited - Thailand
- Mercuria Energy - Indonesia
- Planning Commission, India
- Bhoruka Overseas - Indonesia
- The State Trading Corporation of India Ltd
- Africa Commodities Group - South Africa
- Australian Commodity Traders Exchange
- Dalmia Cement Bharat India
- Larsen & Toubro Limited - India
- Price Waterhouse Coopers - Russia
- Antam Resourcindo - Indonesia
- Kartika Selabumi Mining - Indonesia
- Wood Mackenzie - Singapore
- Karaikal Port Pvt Ltd - India
- Indonesian Coal Mining Association
- Kobexindo Tractors - Indoneisa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Eastern Coal Council - USA
- Timah Investasi Mineral - Indoneisa
- Meenaskhi Energy Private Limited - India
- Independent Power Producers Association of India
- Bukit Makmur.PT - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Medco Energi Mining Internasional
- Manunggal Multi Energi - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Therma Luzon, Inc, Philippines
- Orica Australia Pty. Ltd.
- India Bulls Power Limited - India
- Binh Thuan Hamico - Vietnam
- Kaltim Prima Coal - Indonesia
- Intertek Mineral Services - Indonesia
- Ministry of Finance - Indonesia
- Electricity Authority, New Zealand
- Indo Tambangraya Megah - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Siam City Cement PLC, Thailand
- McConnell Dowell - Australia
- Bukit Baiduri Energy - Indonesia
- Ministry of Mines - Canada
- Sindya Power Generating Company Private Ltd
- Miang Besar Coal Terminal - Indonesia
- Marubeni Corporation - India
- Edison Trading Spa - Italy
- AsiaOL BioFuels Corp., Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Global Green Power PLC Corporation, Philippines
- IEA Clean Coal Centre - UK
- Riau Bara Harum - Indonesia
- Vizag Seaport Private Limited - India
- The Treasury - Australian Government
- GVK Power & Infra Limited - India
- Lanco Infratech Ltd - India
- Rio Tinto Coal - Australia
- Aboitiz Power Corporation - Philippines
- Xindia Steels Limited - India
- Sical Logistics Limited - India
- PNOC Exploration Corporation - Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- MS Steel International - UAE
- Grasim Industreis Ltd - India
- Meralco Power Generation, Philippines
- Savvy Resources Ltd - HongKong
- New Zealand Coal & Carbon
- Deloitte Consulting - India
- Carbofer General Trading SA - India
- Leighton Contractors Pty Ltd - Australia
- VISA Power Limited - India
- Iligan Light & Power Inc, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- Uttam Galva Steels Limited - India
- Oldendorff Carriers - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Port Waratah Coal Services - Australia
- Semirara Mining Corp, Philippines
- Mintek Dendrill Indonesia
- Ministry of Transport, Egypt
- Kohat Cement Company Ltd. - Pakistan
- Samtan Co., Ltd - South Korea
- PTC India Limited - India
- Australian Coal Association
- ASAPP Information Group - India
- Pipit Mutiara Jaya. PT, Indonesia
- PetroVietnam Power Coal Import and Supply Company
- White Energy Company Limited
- Straits Asia Resources Limited - Singapore
- Electricity Generating Authority of Thailand
- Energy Link Ltd, New Zealand
- Tamil Nadu electricity Board
- Malabar Cements Ltd - India
- Coal and Oil Company - UAE
- Holcim Trading Pte Ltd - Singapore
- Salva Resources Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- Makarim & Taira - Indonesia
- Sojitz Corporation - Japan
- Baramulti Group, Indonesia
- Billiton Holdings Pty Ltd - Australia
- Chamber of Mines of South Africa
- Goldman Sachs - Singapore
- Pendopo Energi Batubara - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Energy Development Corp, Philippines
- Altura Mining Limited, Indonesia
- Alfred C Toepfer International GmbH - Germany
- Mercator Lines Limited - India
- CIMB Investment Bank - Malaysia
- Bangladesh Power Developement Board
- Eastern Energy - Thailand
- Petrochimia International Co. Ltd.- Taiwan
- TeaM Sual Corporation - Philippines
- Latin American Coal - Colombia
- Commonwealth Bank - Australia
- Indogreen Group - Indonesia
- Wilmar Investment Holdings
- Tata Chemicals Ltd - India
- Cigading International Bulk Terminal - Indonesia
- GMR Energy Limited - India
- Rashtriya Ispat Nigam Limited - India
- Bulk Trading Sa - Switzerland
- Romanian Commodities Exchange
- Ambuja Cements Ltd - India
- Parliament of New Zealand
- Trasteel International SA, Italy
- London Commodity Brokers - England
- Economic Council, Georgia
- Central Java Power - Indonesia
- European Bulk Services B.V. - Netherlands
- Barasentosa Lestari - Indonesia
- Parry Sugars Refinery, India
- Globalindo Alam Lestari - Indonesia
- Madhucon Powers Ltd - India
- Heidelberg Cement - Germany
- Jorong Barutama Greston.PT - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- Renaissance Capital - South Africa
- Anglo American - United Kingdom
- PowerSource Philippines DevCo
- Global Business Power Corporation, Philippines
- Semirara Mining and Power Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- Georgia Ports Authority, United States
- Neyveli Lignite Corporation Ltd, - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Central Electricity Authority - India
- The University of Queensland
- SMC Global Power, Philippines
- Indian Energy Exchange, India
- Kapuas Tunggal Persada - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Thai Mozambique Logistica
- Power Finance Corporation Ltd., India
- Mjunction Services Limited - India
- Attock Cement Pakistan Limited
- Agrawal Coal Company - India
- GAC Shipping (India) Pvt Ltd
- Global Coal Blending Company Limited - Australia
- Kalimantan Lumbung Energi - Indonesia
- Kideco Jaya Agung - Indonesia
- Bharathi Cement Corporation - India
- Maharashtra Electricity Regulatory Commission - India
- Sree Jayajothi Cements Limited - India
- San Jose City I Power Corp, Philippines
- Chettinad Cement Corporation Ltd - India
- Interocean Group of Companies - India
- SMG Consultants - Indonesia
- Videocon Industries ltd - India
- Borneo Indobara - Indonesia
- OPG Power Generation Pvt Ltd - India
- Bhushan Steel Limited - India
- Minerals Council of Australia
- Siam City Cement - Thailand
- Standard Chartered Bank - UAE
- Coalindo Energy - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Ceylon Electricity Board - Sri Lanka
- Thiess Contractors Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Bhatia International Limited - India
- Merrill Lynch Commodities Europe
- International Coal Ventures Pvt Ltd - India
- ICICI Bank Limited - India
- Ind-Barath Power Infra Limited - India
- Toyota Tsusho Corporation, Japan
- Asmin Koalindo Tuhup - Indonesia
- Aditya Birla Group - India
- Jindal Steel & Power Ltd - India
- Simpson Spence & Young - Indonesia
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