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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, 25 August 11
OPG EXPECTS COAL PRICES TO REMAIN FIRM IN THE SHORT TERM
COALspot.com - Revenue of OPG, the developer and operator of Group Captive power plants in India up 188% to £33.15m and Income from continuing ...
Thursday, 25 August 11
PAITON POWER LOOKING FOR 3.96 MILLION TONS OF COAL
COALspot.com - PT Pembangkit Jawa Bali (PJB) is looking for 3.96 million tons coal with calorific value 4,800 kcal/kg on as received basis. Accordin ...
Tuesday, 23 August 11
ICMA CALLS GOVERNMENT TO REVIEW EXPORT BAN REGULATION
COALspot.com - Chairman of the Indonesian Coal Mining Association (ICMA) Bob Kamandanu asks the government to review the regulation that being draft ...
Tuesday, 23 August 11
ADARO ENERGY ACQUIRES 75% STAKE OF PT MUSTIKA INDAH PERMAI FOR US$ 222.5 MILLION
COALspot.com - PT Alam Tri Abadi, a wholly owned subsidiary of PT Adaro Energy Tbk, signed a share purchase agreement to acquire a 75% stake of PT M ...
Tuesday, 23 August 11
COAL DEMAND IS REMAINED STRONG IN SPITE OF CURRENT GLOBAL ECONOMIC UNCERTAINTY - BUMI
COALspot.com - Indonesia's largest coal producer, PT Bumi Resources, Tbk (BUMI)'s sales revenue has increased to US$1.79 billion (compared with US ...
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- Sakthi Sugars Limited - India
- San Jose City I Power Corp, Philippines
- Kumho Petrochemical, South Korea
- Gujarat Electricity Regulatory Commission - India
- Bahari Cakrawala Sebuku - Indonesia
- Indika Energy - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Grasim Industreis Ltd - India
- Attock Cement Pakistan Limited
- Bukit Asam (Persero) Tbk - Indonesia
- Chamber of Mines of South Africa
- Ministry of Mines - Canada
- Offshore Bulk Terminal Pte Ltd, Singapore
- Wilmar Investment Holdings
- IEA Clean Coal Centre - UK
- Africa Commodities Group - South Africa
- Wood Mackenzie - Singapore
- GAC Shipping (India) Pvt Ltd
- Ceylon Electricity Board - Sri Lanka
- Cigading International Bulk Terminal - Indonesia
- Global Business Power Corporation, Philippines
- Deloitte Consulting - India
- Coastal Gujarat Power Limited - India
- Simpson Spence & Young - Indonesia
- Oldendorff Carriers - Singapore
- Parliament of New Zealand
- Aditya Birla Group - India
- Bhatia International Limited - India
- Interocean Group of Companies - India
- Kohat Cement Company Ltd. - Pakistan
- Mercator Lines Limited - India
- Siam City Cement PLC, Thailand
- Global Coal Blending Company Limited - Australia
- OPG Power Generation Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Mjunction Services Limited - India
- Rashtriya Ispat Nigam Limited - India
- The State Trading Corporation of India Ltd
- Electricity Authority, New Zealand
- Anglo American - United Kingdom
- Sinarmas Energy and Mining - Indonesia
- Kideco Jaya Agung - Indonesia
- Meralco Power Generation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Port Waratah Coal Services - Australia
- Xindia Steels Limited - India
- Holcim Trading Pte Ltd - Singapore
- Edison Trading Spa - Italy
- Essar Steel Hazira Ltd - India
- Central Java Power - Indonesia
- Merrill Lynch Commodities Europe
- Eastern Energy - Thailand
- Rio Tinto Coal - Australia
- Bangladesh Power Developement Board
- VISA Power Limited - India
- Timah Investasi Mineral - Indoneisa
- Karaikal Port Pvt Ltd - India
- Tata Chemicals Ltd - India
- ASAPP Information Group - India
- Neyveli Lignite Corporation Ltd, - India
- Savvy Resources Ltd - HongKong
- Meenaskhi Energy Private Limited - India
- Latin American Coal - Colombia
- Globalindo Alam Lestari - Indonesia
- Sical Logistics Limited - India
- Metalloyd Limited - United Kingdom
- Power Finance Corporation Ltd., India
- Indo Tambangraya Megah - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Thai Mozambique Logistica
- TeaM Sual Corporation - Philippines
- Miang Besar Coal Terminal - Indonesia
- Parry Sugars Refinery, India
- Georgia Ports Authority, United States
- Larsen & Toubro Limited - India
- Bukit Baiduri Energy - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- The University of Queensland
- Bukit Makmur.PT - Indonesia
- Indian Energy Exchange, India
- International Coal Ventures Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- Formosa Plastics Group - Taiwan
- New Zealand Coal & Carbon
- Sindya Power Generating Company Private Ltd
- Siam City Cement - Thailand
- Salva Resources Pvt Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Orica Australia Pty. Ltd.
- Manunggal Multi Energi - Indonesia
- PNOC Exploration Corporation - Philippines
- Star Paper Mills Limited - India
- Australian Commodity Traders Exchange
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Energy Link Ltd, New Zealand
- Minerals Council of Australia
- Alfred C Toepfer International GmbH - Germany
- Marubeni Corporation - India
- Aboitiz Power Corporation - Philippines
- Planning Commission, India
- GVK Power & Infra Limited - India
- Malabar Cements Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Posco Energy - South Korea
- Coal and Oil Company - UAE
- Pendopo Energi Batubara - Indonesia
- LBH Netherlands Bv - Netherlands
- GMR Energy Limited - India
- Straits Asia Resources Limited - Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- Toyota Tsusho Corporation, Japan
- Bayan Resources Tbk. - Indonesia
- Mintek Dendrill Indonesia
- Billiton Holdings Pty Ltd - Australia
- Jaiprakash Power Ventures ltd
- PowerSource Philippines DevCo
- Singapore Mercantile Exchange
- Bulk Trading Sa - Switzerland
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Bharathi Cement Corporation - India
- Maharashtra Electricity Regulatory Commission - India
- Chettinad Cement Corporation Ltd - India
- Ambuja Cements Ltd - India
- Petron Corporation, Philippines
- The Treasury - Australian Government
- Indogreen Group - Indonesia
- Krishnapatnam Port Company Ltd. - India
- CIMB Investment Bank - Malaysia
- CNBM International Corporation - China
- Jindal Steel & Power Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Orica Mining Services - Indonesia
- Kobexindo Tractors - Indoneisa
- Sojitz Corporation - Japan
- Petrochimia International Co. Ltd.- Taiwan
- Indonesian Coal Mining Association
- Bhushan Steel Limited - India
- SMC Global Power, Philippines
- Dalmia Cement Bharat India
- Antam Resourcindo - Indonesia
- Tamil Nadu electricity Board
- Price Waterhouse Coopers - Russia
- Borneo Indobara - Indonesia
- Lanco Infratech Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- GN Power Mariveles Coal Plant, Philippines
- Independent Power Producers Association of India
- IHS Mccloskey Coal Group - USA
- Iligan Light & Power Inc, Philippines
- Global Green Power PLC Corporation, Philippines
- Renaissance Capital - South Africa
- Vizag Seaport Private Limited - India
- Directorate Of Revenue Intelligence - India
- Binh Thuan Hamico - Vietnam
- Therma Luzon, Inc, Philippines
- Indian Oil Corporation Limited
- Baramulti Group, Indonesia
- Economic Council, Georgia
- ICICI Bank Limited - India
- India Bulls Power Limited - India
- Makarim & Taira - Indonesia
- Kaltim Prima Coal - Indonesia
- Videocon Industries ltd - India
- Electricity Generating Authority of Thailand
- Goldman Sachs - Singapore
- Gujarat Mineral Development Corp Ltd - India
- SMG Consultants - Indonesia
- Banpu Public Company Limited - Thailand
- Bhoruka Overseas - Indonesia
- Carbofer General Trading SA - India
- Samtan Co., Ltd - South Korea
- Maheswari Brothers Coal Limited - India
- Altura Mining Limited, Indonesia
- McConnell Dowell - Australia
- Australian Coal Association
- Kepco SPC Power Corporation, Philippines
- Semirara Mining Corp, Philippines
- Ministry of Finance - Indonesia
- Sree Jayajothi Cements Limited - India
- PTC India Limited - India
- Madhucon Powers Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Standard Chartered Bank - UAE
- Central Electricity Authority - India
- Gujarat Sidhee Cement - India
- Riau Bara Harum - Indonesia
- Romanian Commodities Exchange
- Heidelberg Cement - Germany
- London Commodity Brokers - England
- Vedanta Resources Plc - India
- Medco Energi Mining Internasional
- White Energy Company Limited
- Coalindo Energy - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Mercuria Energy - Indonesia
- Uttam Galva Steels Limited - India
- Asmin Koalindo Tuhup - Indonesia
- European Bulk Services B.V. - Netherlands
- Jorong Barutama Greston.PT - Indonesia
- Trasteel International SA, Italy
- Energy Development Corp, Philippines
- Thiess Contractors Indonesia
- Intertek Mineral Services - Indonesia
- Eastern Coal Council - USA
- Agrawal Coal Company - India
- Sarangani Energy Corporation, Philippines
- MS Steel International - UAE
- Cement Manufacturers Association - India
- Ministry of Transport, Egypt
- Commonwealth Bank - Australia
- Barasentosa Lestari - Indonesia
- Ind-Barath Power Infra Limited - India
- South Luzon Thermal Energy Corporation
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