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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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Friday, 19 August 11
INDIA IMPORTS LESS INDONESIAN COAL THAN CHINA IN JULY
COALspot.com - Indonesia shipped 31.30 Million tons of coal in July 2011, up by 10.69 percent compared to June's export of about 28.27 ...
Thursday, 18 August 11
INDONESIAS PROPOSED LOW GRADE COAL EXPORT BAN WILL NOT HAVE A SIGNIFICANT IMPACT ON INDIA - MISWIN MAHESH
COALspot.com - The Indonesian government is currently in the process of drafting a new regulation that could ban the export of low-grade coal by Jan ...
Thursday, 18 August 11
MARUBENI ACQUIRED 42.86% OF YTL JAWA POWER
COALspot.com - Marubeni Corporation (Marubeni) has completed the acquisition of 42.86 percent of the shares of YTL Jawa Power Holdings BV from YTL P ...
Wednesday, 17 August 11
CME LAUNCHES ARGUS COKING COAL SWAP FUTURES
COALspot.com - Argus media reported that, leading exchange CME Group will list an Australian coking coal swap futures contract for trading on the Ny ...
Wednesday, 17 August 11
TAVESCO KILLARA ENERGY TO ACQUIRE COAL CONCESSIONS IN EAST KALIMANTAN
COALspot.com - Killara Resources Limited, an Australian listed company has formed PT Tavesco Killara Energy (TKE), a joint company with PT Tavesco I ...
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- Star Paper Mills Limited - India
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- Thiess Contractors Indonesia
- Jindal Steel & Power Ltd - India
- Sarangani Energy Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- Sinarmas Energy and Mining - Indonesia
- Baramulti Group, Indonesia
- Merrill Lynch Commodities Europe
- Agrawal Coal Company - India
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- Mintek Dendrill Indonesia
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- Rashtriya Ispat Nigam Limited - India
- Electricity Authority, New Zealand
- Tamil Nadu electricity Board
- Commonwealth Bank - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indian Energy Exchange, India
- Neyveli Lignite Corporation Ltd, - India
- Heidelberg Cement - Germany
- Riau Bara Harum - Indonesia
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- San Jose City I Power Corp, Philippines
- Jaiprakash Power Ventures ltd
- Gujarat Electricity Regulatory Commission - India
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- Chamber of Mines of South Africa
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- IHS Mccloskey Coal Group - USA
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- Altura Mining Limited, Indonesia
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- Gujarat Mineral Development Corp Ltd - India
- Therma Luzon, Inc, Philippines
- Kumho Petrochemical, South Korea
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- Parliament of New Zealand
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- Makarim & Taira - Indonesia
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- Siam City Cement PLC, Thailand
- Semirara Mining and Power Corporation, Philippines
- Eastern Energy - Thailand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sree Jayajothi Cements Limited - India
- Wood Mackenzie - Singapore
- Economic Council, Georgia
- Eastern Coal Council - USA
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- The University of Queensland
- Petrochimia International Co. Ltd.- Taiwan
- Thai Mozambique Logistica
- OPG Power Generation Pvt Ltd - India
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- Simpson Spence & Young - Indonesia
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- Medco Energi Mining Internasional
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- Leighton Contractors Pty Ltd - Australia
- Banpu Public Company Limited - Thailand
- Wilmar Investment Holdings
- Bhushan Steel Limited - India
- Electricity Generating Authority of Thailand
- Sindya Power Generating Company Private Ltd
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- Bukit Asam (Persero) Tbk - Indonesia
- Goldman Sachs - Singapore
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- New Zealand Coal & Carbon
- The Treasury - Australian Government
- Coal and Oil Company - UAE
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- Cigading International Bulk Terminal - Indonesia
- Edison Trading Spa - Italy
- Africa Commodities Group - South Africa
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- Central Electricity Authority - India
- Bharathi Cement Corporation - India
- Interocean Group of Companies - India
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- Dalmia Cement Bharat India
- VISA Power Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Billiton Holdings Pty Ltd - Australia
- Deloitte Consulting - India
- Energy Development Corp, Philippines
- Meralco Power Generation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Price Waterhouse Coopers - Russia
- Krishnapatnam Port Company Ltd. - India
- Tata Chemicals Ltd - India
- Ministry of Transport, Egypt
- Global Coal Blending Company Limited - Australia
- Intertek Mineral Services - Indonesia
- Toyota Tsusho Corporation, Japan
- Bulk Trading Sa - Switzerland
- Jorong Barutama Greston.PT - Indonesia
- Anglo American - United Kingdom
- Orica Mining Services - Indonesia
- Barasentosa Lestari - Indonesia
- Oldendorff Carriers - Singapore
- Binh Thuan Hamico - Vietnam
- ASAPP Information Group - India
- Ministry of Mines - Canada
- GAC Shipping (India) Pvt Ltd
- Kobexindo Tractors - Indoneisa
- Gujarat Sidhee Cement - India
- SMC Global Power, Philippines
- McConnell Dowell - Australia
- Lanco Infratech Ltd - India
- International Coal Ventures Pvt Ltd - India
- Minerals Council of Australia
- Grasim Industreis Ltd - India
- PTC India Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Marubeni Corporation - India
- Singapore Mercantile Exchange
- PowerSource Philippines DevCo
- Savvy Resources Ltd - HongKong
- Sical Logistics Limited - India
- GN Power Mariveles Coal Plant, Philippines
- ICICI Bank Limited - India
- Bukit Makmur.PT - Indonesia
- Posco Energy - South Korea
- Energy Link Ltd, New Zealand
- Maheswari Brothers Coal Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Australian Commodity Traders Exchange
- Vizag Seaport Private Limited - India
- Meenaskhi Energy Private Limited - India
- Bhoruka Overseas - Indonesia
- Cement Manufacturers Association - India
- Uttam Galva Steels Limited - India
- Ceylon Electricity Board - Sri Lanka
- Indonesian Coal Mining Association
- SMG Consultants - Indonesia
- CIMB Investment Bank - Malaysia
- TeaM Sual Corporation - Philippines
- Bukit Baiduri Energy - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Carbofer General Trading SA - India
- Mercator Lines Limited - India
- Planning Commission, India
- Global Green Power PLC Corporation, Philippines
- London Commodity Brokers - England
- Kaltim Prima Coal - Indonesia
- Independent Power Producers Association of India
- Rio Tinto Coal - Australia
- Sojitz Corporation - Japan
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Borneo Indobara - Indonesia
- Metalloyd Limited - United Kingdom
- Parry Sugars Refinery, India
- The State Trading Corporation of India Ltd
- SN Aboitiz Power Inc, Philippines
- IEA Clean Coal Centre - UK
- Mercuria Energy - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Kepco SPC Power Corporation, Philippines
- Renaissance Capital - South Africa
- Orica Australia Pty. Ltd.
- Aditya Birla Group - India
- Standard Chartered Bank - UAE
- Semirara Mining Corp, Philippines
- Indian Oil Corporation Limited
- Samtan Co., Ltd - South Korea
- Kapuas Tunggal Persada - Indonesia
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- Kohat Cement Company Ltd. - Pakistan
- European Bulk Services B.V. - Netherlands
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- Coalindo Energy - Indonesia
- Globalindo Alam Lestari - Indonesia
- Georgia Ports Authority, United States
- Chettinad Cement Corporation Ltd - India
- Indo Tambangraya Megah - Indonesia
- Ministry of Finance - Indonesia
- White Energy Company Limited
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