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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, 23 August 11
PENRHYN COAL USING EVERGREEN ENERGYS COAL UPGRADING PROCESS
Evergreen Energy Inc has announced the successful testing results of the initial batches of Penrhyn coal using Evergreen Energy’s coal upgradi ...
Tuesday, 23 August 11
A SHARP INCREASE IN THE BDI - BRS
A sharp increase in the BDI this week, driven by the rise in Capesize rates. Overall the BDI was up 13.5% to 1,462 points on the back of a 20% surge ...
Monday, 22 August 11
INDONESIA TO BAN BELOW 5700 KCAL/KG COAL FOR EXPORT
COALspot.com - Ministry of Energy and Mineral Resources of Indonesia is in the process of drafting a regulation which is requiring mine owners ...
Monday, 22 August 11
JATENERGY AGREED TO FORM JV WITH AN INDONESIAN COAL MINING COMPANY
COALspot.com - Australian’s listed company, Jatenergy Limited has entered conditional agreement to form joint venture with Indonesia’s c ...
Monday, 22 August 11
NTPC TO IMPORT 16 MILLION TON OF COAL TO BRIDGE THE GAP
COALspot.com - NTPC to import 16 million tons of imported coal, which is equivalent to 23-24 million tons of Indian coal to bridge the gap.
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- Antam Resourcindo - Indonesia
- Petron Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Bukit Baiduri Energy - Indonesia
- Latin American Coal - Colombia
- Pendopo Energi Batubara - Indonesia
- Interocean Group of Companies - India
- Vijayanagar Sugar Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- Price Waterhouse Coopers - Russia
- Renaissance Capital - South Africa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Eastern Energy - Thailand
- Bharathi Cement Corporation - India
- Indonesian Coal Mining Association
- Bank of Tokyo Mitsubishi UFJ Ltd
- Alfred C Toepfer International GmbH - Germany
- Vedanta Resources Plc - India
- CNBM International Corporation - China
- Neyveli Lignite Corporation Ltd, - India
- Kobexindo Tractors - Indoneisa
- Kaltim Prima Coal - Indonesia
- Indian Oil Corporation Limited
- London Commodity Brokers - England
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bhoruka Overseas - Indonesia
- Chamber of Mines of South Africa
- SMG Consultants - Indonesia
- Merrill Lynch Commodities Europe
- Gujarat Electricity Regulatory Commission - India
- Bukit Asam (Persero) Tbk - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Marubeni Corporation - India
- Jindal Steel & Power Ltd - India
- Posco Energy - South Korea
- Edison Trading Spa - Italy
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Heidelberg Cement - Germany
- Maheswari Brothers Coal Limited - India
- Rio Tinto Coal - Australia
- Orica Mining Services - Indonesia
- Chettinad Cement Corporation Ltd - India
- Formosa Plastics Group - Taiwan
- Krishnapatnam Port Company Ltd. - India
- Global Business Power Corporation, Philippines
- Central Electricity Authority - India
- Sree Jayajothi Cements Limited - India
- Dalmia Cement Bharat India
- Parliament of New Zealand
- GN Power Mariveles Coal Plant, Philippines
- Vizag Seaport Private Limited - India
- GVK Power & Infra Limited - India
- Coalindo Energy - Indonesia
- Attock Cement Pakistan Limited
- Binh Thuan Hamico - Vietnam
- Madhucon Powers Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Sojitz Corporation - Japan
- Kideco Jaya Agung - Indonesia
- Africa Commodities Group - South Africa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Grasim Industreis Ltd - India
- Energy Development Corp, Philippines
- Bhatia International Limited - India
- GAC Shipping (India) Pvt Ltd
- Mintek Dendrill Indonesia
- Indogreen Group - Indonesia
- Power Finance Corporation Ltd., India
- Jorong Barutama Greston.PT - Indonesia
- Sindya Power Generating Company Private Ltd
- Energy Link Ltd, New Zealand
- Siam City Cement PLC, Thailand
- Coal and Oil Company - UAE
- Samtan Co., Ltd - South Korea
- Commonwealth Bank - Australia
- Leighton Contractors Pty Ltd - Australia
- Uttam Galva Steels Limited - India
- Ministry of Transport, Egypt
- Kumho Petrochemical, South Korea
- Electricity Generating Authority of Thailand
- Malabar Cements Ltd - India
- GMR Energy Limited - India
- Sical Logistics Limited - India
- AsiaOL BioFuels Corp., Philippines
- Bayan Resources Tbk. - Indonesia
- VISA Power Limited - India
- Orica Australia Pty. Ltd.
- Kepco SPC Power Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- Thai Mozambique Logistica
- Larsen & Toubro Limited - India
- Borneo Indobara - Indonesia
- Therma Luzon, Inc, Philippines
- Star Paper Mills Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Holcim Trading Pte Ltd - Singapore
- Iligan Light & Power Inc, Philippines
- India Bulls Power Limited - India
- Miang Besar Coal Terminal - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Sarangani Energy Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- Georgia Ports Authority, United States
- Wilmar Investment Holdings
- Australian Commodity Traders Exchange
- Intertek Mineral Services - Indonesia
- Tata Chemicals Ltd - India
- Altura Mining Limited, Indonesia
- Aditya Birla Group - India
- Lanco Infratech Ltd - India
- ASAPP Information Group - India
- IHS Mccloskey Coal Group - USA
- Anglo American - United Kingdom
- IEA Clean Coal Centre - UK
- Timah Investasi Mineral - Indoneisa
- LBH Netherlands Bv - Netherlands
- Straits Asia Resources Limited - Singapore
- Deloitte Consulting - India
- Cigading International Bulk Terminal - Indonesia
- Toyota Tsusho Corporation, Japan
- Parry Sugars Refinery, India
- Mjunction Services Limited - India
- Videocon Industries ltd - India
- PTC India Limited - India
- Electricity Authority, New Zealand
- Directorate General of MIneral and Coal - Indonesia
- Meralco Power Generation, Philippines
- Global Green Power PLC Corporation, Philippines
- New Zealand Coal & Carbon
- Baramulti Group, Indonesia
- Semirara Mining Corp, Philippines
- Port Waratah Coal Services - Australia
- Minerals Council of Australia
- Bulk Trading Sa - Switzerland
- Ind-Barath Power Infra Limited - India
- San Jose City I Power Corp, Philippines
- Oldendorff Carriers - Singapore
- Mercator Lines Limited - India
- Savvy Resources Ltd - HongKong
- Planning Commission, India
- PNOC Exploration Corporation - Philippines
- Australian Coal Association
- SMC Global Power, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Siam City Cement - Thailand
- Bukit Makmur.PT - Indonesia
- TeaM Sual Corporation - Philippines
- Meenaskhi Energy Private Limited - India
- South Luzon Thermal Energy Corporation
- Gujarat Sidhee Cement - India
- Riau Bara Harum - Indonesia
- Ambuja Cements Ltd - India
- Metalloyd Limited - United Kingdom
- Indika Energy - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bangladesh Power Developement Board
- Directorate Of Revenue Intelligence - India
- Gujarat Mineral Development Corp Ltd - India
- Aboitiz Power Corporation - Philippines
- Sakthi Sugars Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Pipit Mutiara Jaya. PT, Indonesia
- Romanian Commodities Exchange
- Eastern Coal Council - USA
- Kalimantan Lumbung Energi - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Medco Energi Mining Internasional
- Petrochimia International Co. Ltd.- Taiwan
- Coastal Gujarat Power Limited - India
- Ministry of Mines - Canada
- Banpu Public Company Limited - Thailand
- Makarim & Taira - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Independent Power Producers Association of India
- SN Aboitiz Power Inc, Philippines
- Mercuria Energy - Indonesia
- Cement Manufacturers Association - India
- McConnell Dowell - Australia
- Indian Energy Exchange, India
- The University of Queensland
- Global Coal Blending Company Limited - Australia
- OPG Power Generation Pvt Ltd - India
- PowerSource Philippines DevCo
- MS Steel International - UAE
- Standard Chartered Bank - UAE
- Economic Council, Georgia
- Rashtriya Ispat Nigam Limited - India
- Simpson Spence & Young - Indonesia
- Karaikal Port Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Carbofer General Trading SA - India
- Jaiprakash Power Ventures ltd
- Singapore Mercantile Exchange
- Thiess Contractors Indonesia
- ICICI Bank Limited - India
- Essar Steel Hazira Ltd - India
- Xindia Steels Limited - India
- Goldman Sachs - Singapore
- Ministry of Finance - Indonesia
- White Energy Company Limited
- Wood Mackenzie - Singapore
- Agrawal Coal Company - India
- The Treasury - Australian Government
- Karbindo Abesyapradhi - Indoneisa
- International Coal Ventures Pvt Ltd - India
- Tamil Nadu electricity Board
- Barasentosa Lestari - Indonesia
- Salva Resources Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- Bhushan Steel Limited - India
- Kartika Selabumi Mining - Indonesia
- The State Trading Corporation of India Ltd
- Central Java Power - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Trasteel International SA, Italy
- CIMB Investment Bank - Malaysia
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