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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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Monday, 22 August 11
MACRO ECONOMICS - PETER SAND BIMCO / HELLENIC SHIPPING
The US is jeopardising the global recovery as job creation remains top challenge across the board.
Global economy: While growth in most emerging ...
Sunday, 21 August 11
SUPRAMAX AVAILABILITY WAS TIGHT DUE TO UPCOMING RAMADAN HOLIDAYS
COALspot.com - The financial markets have been in turmoil with all major stock exchanges down and uncertainty prevails. However the shipping market ...
Sunday, 21 August 11
TUAH TURANGGA ACQUIRES DUTA NURCAHYA
Coal miner PT Tuah Turangga Agung, a wholly owned subsidiary of PT United Tractors Tbk (UNTR) via PT Pamapersada Nusantara), has agreed to acquire 6 ...
Friday, 19 August 11
INDIAS CICTL HAS ACHIEVED ONE MILLION TONS OF DISCHARGE
COALspot.com - Chettinad International Coal Terminal (CICTL) in Ennore port, a state of the art mechanized coal terminal, which was inaugurated on 28t ...
Friday, 19 August 11
AUSTRALIAS' ATH TO ACQUIRE 60% OF APUAH COAL MINE IN INDONESIA
COALspot.com - Australian listed company, Atech Holdings Limited (ATH) has entered into a conditional binding term sheet to acquire 60 percent stake ...
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- GN Power Mariveles Coal Plant, Philippines
- The Treasury - Australian Government
- Rio Tinto Coal - Australia
- Maharashtra Electricity Regulatory Commission - India
- Thiess Contractors Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- GMR Energy Limited - India
- Chamber of Mines of South Africa
- Chettinad Cement Corporation Ltd - India
- Salva Resources Pvt Ltd - India
- PTC India Limited - India
- Kaltim Prima Coal - Indonesia
- White Energy Company Limited
- Asmin Koalindo Tuhup - Indonesia
- OPG Power Generation Pvt Ltd - India
- Mercator Lines Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Kepco SPC Power Corporation, Philippines
- Global Business Power Corporation, Philippines
- Bhoruka Overseas - Indonesia
- Mintek Dendrill Indonesia
- Metalloyd Limited - United Kingdom
- Price Waterhouse Coopers - Russia
- Bayan Resources Tbk. - Indonesia
- Attock Cement Pakistan Limited
- Heidelberg Cement - Germany
- Oldendorff Carriers - Singapore
- Energy Development Corp, Philippines
- Borneo Indobara - Indonesia
- Standard Chartered Bank - UAE
- Bhushan Steel Limited - India
- Tamil Nadu electricity Board
- Riau Bara Harum - Indonesia
- Parry Sugars Refinery, India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Timah Investasi Mineral - Indoneisa
- Aditya Birla Group - India
- Barasentosa Lestari - Indonesia
- Pendopo Energi Batubara - Indonesia
- Simpson Spence & Young - Indonesia
- Indian Oil Corporation Limited
- Edison Trading Spa - Italy
- Independent Power Producers Association of India
- Interocean Group of Companies - India
- IEA Clean Coal Centre - UK
- Kumho Petrochemical, South Korea
- Meenaskhi Energy Private Limited - India
- Bulk Trading Sa - Switzerland
- Samtan Co., Ltd - South Korea
- Planning Commission, India
- European Bulk Services B.V. - Netherlands
- Africa Commodities Group - South Africa
- Anglo American - United Kingdom
- Electricity Generating Authority of Thailand
- Petron Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- Orica Mining Services - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Australian Commodity Traders Exchange
- Jaiprakash Power Ventures ltd
- Formosa Plastics Group - Taiwan
- Central Java Power - Indonesia
- Indonesian Coal Mining Association
- Directorate Of Revenue Intelligence - India
- London Commodity Brokers - England
- Xindia Steels Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Jorong Barutama Greston.PT - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Siam City Cement - Thailand
- Gujarat Electricity Regulatory Commission - India
- Kartika Selabumi Mining - Indonesia
- Merrill Lynch Commodities Europe
- Karbindo Abesyapradhi - Indoneisa
- Goldman Sachs - Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- ICICI Bank Limited - India
- Bhatia International Limited - India
- ASAPP Information Group - India
- Holcim Trading Pte Ltd - Singapore
- South Luzon Thermal Energy Corporation
- LBH Netherlands Bv - Netherlands
- Therma Luzon, Inc, Philippines
- San Jose City I Power Corp, Philippines
- VISA Power Limited - India
- International Coal Ventures Pvt Ltd - India
- Sical Logistics Limited - India
- Commonwealth Bank - Australia
- Ind-Barath Power Infra Limited - India
- PowerSource Philippines DevCo
- SMC Global Power, Philippines
- Semirara Mining and Power Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- Bukit Baiduri Energy - Indonesia
- Coal and Oil Company - UAE
- Binh Thuan Hamico - Vietnam
- IHS Mccloskey Coal Group - USA
- Makarim & Taira - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Ministry of Finance - Indonesia
- Karaikal Port Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- Baramulti Group, Indonesia
- Coastal Gujarat Power Limited - India
- Toyota Tsusho Corporation, Japan
- Indika Energy - Indonesia
- Sindya Power Generating Company Private Ltd
- GVK Power & Infra Limited - India
- Billiton Holdings Pty Ltd - Australia
- Ministry of Mines - Canada
- Vedanta Resources Plc - India
- Eastern Coal Council - USA
- Central Electricity Authority - India
- Eastern Energy - Thailand
- Directorate General of MIneral and Coal - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Renaissance Capital - South Africa
- Global Green Power PLC Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Wilmar Investment Holdings
- Pipit Mutiara Jaya. PT, Indonesia
- Mjunction Services Limited - India
- Sojitz Corporation - Japan
- Maheswari Brothers Coal Limited - India
- CNBM International Corporation - China
- TeaM Sual Corporation - Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Posco Energy - South Korea
- Coalindo Energy - Indonesia
- Banpu Public Company Limited - Thailand
- PNOC Exploration Corporation - Philippines
- Marubeni Corporation - India
- SMG Consultants - Indonesia
- Malabar Cements Ltd - India
- Economic Council, Georgia
- Sinarmas Energy and Mining - Indonesia
- Electricity Authority, New Zealand
- Bangladesh Power Developement Board
- Kideco Jaya Agung - Indonesia
- Tata Chemicals Ltd - India
- Romanian Commodities Exchange
- CIMB Investment Bank - Malaysia
- Vizag Seaport Private Limited - India
- Georgia Ports Authority, United States
- Power Finance Corporation Ltd., India
- Kobexindo Tractors - Indoneisa
- Uttam Galva Steels Limited - India
- Cement Manufacturers Association - India
- Sree Jayajothi Cements Limited - India
- Mercuria Energy - Indonesia
- Global Coal Blending Company Limited - Australia
- Indian Energy Exchange, India
- Manunggal Multi Energi - Indonesia
- Madhucon Powers Ltd - India
- Carbofer General Trading SA - India
- Leighton Contractors Pty Ltd - Australia
- Kapuas Tunggal Persada - Indonesia
- Meralco Power Generation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- Siam City Cement PLC, Thailand
- Singapore Mercantile Exchange
- Agrawal Coal Company - India
- Miang Besar Coal Terminal - Indonesia
- Deloitte Consulting - India
- Wood Mackenzie - Singapore
- Thai Mozambique Logistica
- Gujarat Sidhee Cement - India
- Port Waratah Coal Services - Australia
- Alfred C Toepfer International GmbH - Germany
- Rashtriya Ispat Nigam Limited - India
- Intertek Mineral Services - Indonesia
- Bukit Makmur.PT - Indonesia
- Larsen & Toubro Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Jindal Steel & Power Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- TNB Fuel Sdn Bhd - Malaysia
- Essar Steel Hazira Ltd - India
- Minerals Council of Australia
- Neyveli Lignite Corporation Ltd, - India
- Videocon Industries ltd - India
- Savvy Resources Ltd - HongKong
- Semirara Mining Corp, Philippines
- Grasim Industreis Ltd - India
- India Bulls Power Limited - India
- McConnell Dowell - Australia
- Medco Energi Mining Internasional
- Ministry of Transport, Egypt
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Lanco Infratech Ltd - India
- Star Paper Mills Limited - India
- Altura Mining Limited, Indonesia
- The University of Queensland
- Energy Link Ltd, New Zealand
- Sakthi Sugars Limited - India
- Trasteel International SA, Italy
- Krishnapatnam Port Company Ltd. - India
- Antam Resourcindo - Indonesia
- Orica Australia Pty. Ltd.
- Australian Coal Association
- Parliament of New Zealand
- GAC Shipping (India) Pvt Ltd
- Latin American Coal - Colombia
- Straits Asia Resources Limited - Singapore
- Aboitiz Power Corporation - Philippines
- Cigading International Bulk Terminal - Indonesia
- MS Steel International - UAE
- New Zealand Coal & Carbon
- Indogreen Group - Indonesia
- SN Aboitiz Power Inc, Philippines
- The State Trading Corporation of India Ltd
- Ceylon Electricity Board - Sri Lanka
- Ambuja Cements Ltd - India
- Bharathi Cement Corporation - India
- Dalmia Cement Bharat India
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