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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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Wednesday, 17 August 11
BUMI'S H1 UNDERLYING OPERATING PROFIT $62 MILLION
COALspot.com - Bumi PLC , posted underlying first-half operating profit of $62 million and production at PT Bumi Resources and PT Berau increased to ...
Wednesday, 17 August 11
SHIP OWNERS COULD FACE PAIN ON THE BACK OF GLOOMY ECONOMYS PREDICTIONS - HELLENIC SHIPPING
The latest market turmoil, coupled with the renewed risk of a global recession could very well signal more troubled times for ship owners of all shi ...
Tuesday, 16 August 11
CHALLENGER ENTERED INTO CSPA WITH PELANGI KERTANEGARA TO ACQUIRE 100% STAKE
COALspot.com - Challenger Deep Resources Corp., through its wholly owned subsidiary, P.T. Bestindo Energy, has exercised its option to purchase an a ...
Monday, 15 August 11
ADARO ENERGYS NET INCOME MORE THAN DOUBLES IN FIRST HALF 2011
COALspot.com - Indonesian’s second largest coal producer, Adaro Energy, booked net profit US$ 268 million in the first half 2011, rose two-fol ...
Monday, 15 August 11
INDIAS MALABAR CEMENTS SEEK TO IMPORT 40,000 TONS OF COAL
COALspot.com - Malabar Cements Ltd., India's Keralaa government owned cement factory is seeking to import 40K metric tons of non-coking coal throug ...
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- Standard Chartered Bank - UAE
- Tata Chemicals Ltd - India
- Central Electricity Authority - India
- SN Aboitiz Power Inc, Philippines
- Indogreen Group - Indonesia
- Madhucon Powers Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Energy Link Ltd, New Zealand
- Tamil Nadu electricity Board
- GAC Shipping (India) Pvt Ltd
- Oldendorff Carriers - Singapore
- International Coal Ventures Pvt Ltd - India
- ICICI Bank Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- PTC India Limited - India
- Indonesian Coal Mining Association
- CIMB Investment Bank - Malaysia
- Posco Energy - South Korea
- Kumho Petrochemical, South Korea
- Medco Energi Mining Internasional
- Aditya Birla Group - India
- Orica Mining Services - Indonesia
- Xindia Steels Limited - India
- Orica Australia Pty. Ltd.
- PowerSource Philippines DevCo
- Gujarat Electricity Regulatory Commission - India
- Kalimantan Lumbung Energi - Indonesia
- Edison Trading Spa - Italy
- Sindya Power Generating Company Private Ltd
- Vizag Seaport Private Limited - India
- Anglo American - United Kingdom
- Dalmia Cement Bharat India
- Makarim & Taira - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Barasentosa Lestari - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Mjunction Services Limited - India
- Coalindo Energy - Indonesia
- Kepco SPC Power Corporation, Philippines
- Africa Commodities Group - South Africa
- Central Java Power - Indonesia
- Ind-Barath Power Infra Limited - India
- Sical Logistics Limited - India
- Bangladesh Power Developement Board
- Star Paper Mills Limited - India
- Power Finance Corporation Ltd., India
- Coastal Gujarat Power Limited - India
- Price Waterhouse Coopers - Russia
- Jindal Steel & Power Ltd - India
- Mintek Dendrill Indonesia
- Eastern Energy - Thailand
- Goldman Sachs - Singapore
- Kideco Jaya Agung - Indonesia
- Deloitte Consulting - India
- Binh Thuan Hamico - Vietnam
- Kapuas Tunggal Persada - Indonesia
- Heidelberg Cement - Germany
- Global Green Power PLC Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Holcim Trading Pte Ltd - Singapore
- Coal and Oil Company - UAE
- Antam Resourcindo - Indonesia
- Pendopo Energi Batubara - Indonesia
- Essar Steel Hazira Ltd - India
- Timah Investasi Mineral - Indoneisa
- LBH Netherlands Bv - Netherlands
- Bukit Makmur.PT - Indonesia
- Eastern Coal Council - USA
- IHS Mccloskey Coal Group - USA
- Neyveli Lignite Corporation Ltd, - India
- The State Trading Corporation of India Ltd
- Banpu Public Company Limited - Thailand
- Petron Corporation, Philippines
- Minerals Council of Australia
- Intertek Mineral Services - Indonesia
- The University of Queensland
- The Treasury - Australian Government
- Independent Power Producers Association of India
- White Energy Company Limited
- Meralco Power Generation, Philippines
- Alfred C Toepfer International GmbH - Germany
- SMC Global Power, Philippines
- Ministry of Mines - Canada
- CNBM International Corporation - China
- Bhoruka Overseas - Indonesia
- Gujarat Sidhee Cement - India
- Bukit Baiduri Energy - Indonesia
- Siam City Cement - Thailand
- Ambuja Cements Ltd - India
- Energy Development Corp, Philippines
- Romanian Commodities Exchange
- Sree Jayajothi Cements Limited - India
- Chamber of Mines of South Africa
- Riau Bara Harum - Indonesia
- Manunggal Multi Energi - Indonesia
- MS Steel International - UAE
- Kartika Selabumi Mining - Indonesia
- Karaikal Port Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- Meenaskhi Energy Private Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Therma Luzon, Inc, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Australian Commodity Traders Exchange
- Commonwealth Bank - Australia
- Thiess Contractors Indonesia
- Indian Energy Exchange, India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Carbofer General Trading SA - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ministry of Transport, Egypt
- Cigading International Bulk Terminal - Indonesia
- Ministry of Finance - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Parliament of New Zealand
- Krishnapatnam Port Company Ltd. - India
- Mercuria Energy - Indonesia
- GVK Power & Infra Limited - India
- GMR Energy Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Renaissance Capital - South Africa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bahari Cakrawala Sebuku - Indonesia
- Baramulti Group, Indonesia
- Thai Mozambique Logistica
- Metalloyd Limited - United Kingdom
- Latin American Coal - Colombia
- AsiaOL BioFuels Corp., Philippines
- Larsen & Toubro Limited - India
- SMG Consultants - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- London Commodity Brokers - England
- Altura Mining Limited, Indonesia
- VISA Power Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- Bharathi Cement Corporation - India
- Kobexindo Tractors - Indoneisa
- Electricity Authority, New Zealand
- Global Business Power Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Agrawal Coal Company - India
- Attock Cement Pakistan Limited
- Bhushan Steel Limited - India
- Sarangani Energy Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Simpson Spence & Young - Indonesia
- Grasim Industreis Ltd - India
- Rio Tinto Coal - Australia
- Indian Oil Corporation Limited
- Merrill Lynch Commodities Europe
- OPG Power Generation Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Vedanta Resources Plc - India
- Parry Sugars Refinery, India
- European Bulk Services B.V. - Netherlands
- Singapore Mercantile Exchange
- Formosa Plastics Group - Taiwan
- Iligan Light & Power Inc, Philippines
- San Jose City I Power Corp, Philippines
- Interocean Group of Companies - India
- Trasteel International SA, Italy
- Australian Coal Association
- Georgia Ports Authority, United States
- Global Coal Blending Company Limited - Australia
- Samtan Co., Ltd - South Korea
- Toyota Tsusho Corporation, Japan
- Planning Commission, India
- Aboitiz Power Corporation - Philippines
- Bulk Trading Sa - Switzerland
- Electricity Generating Authority of Thailand
- TeaM Sual Corporation - Philippines
- PetroVietnam Power Coal Import and Supply Company
- IEA Clean Coal Centre - UK
- Sinarmas Energy and Mining - Indonesia
- McConnell Dowell - Australia
- Wilmar Investment Holdings
- Bukit Asam (Persero) Tbk - Indonesia
- South Luzon Thermal Energy Corporation
- Uttam Galva Steels Limited - India
- Directorate General of MIneral and Coal - Indonesia
- New Zealand Coal & Carbon
- Bank of Tokyo Mitsubishi UFJ Ltd
- Lanco Infratech Ltd - India
- Bhatia International Limited - India
- Globalindo Alam Lestari - Indonesia
- ASAPP Information Group - India
- Asmin Koalindo Tuhup - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Cement Manufacturers Association - India
- Directorate Of Revenue Intelligence - India
- Indika Energy - Indonesia
- Semirara Mining Corp, Philippines
- Maharashtra Electricity Regulatory Commission - India
- India Bulls Power Limited - India
- Maheswari Brothers Coal Limited - India
- Siam City Cement PLC, Thailand
- Leighton Contractors Pty Ltd - Australia
- Jaiprakash Power Ventures ltd
- Kaltim Prima Coal - Indonesia
- Marubeni Corporation - India
- Wood Mackenzie - Singapore
- Videocon Industries ltd - India
- Savvy Resources Ltd - HongKong
- Economic Council, Georgia
- Sakthi Sugars Limited - India
- Sojitz Corporation - Japan
- Salva Resources Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Mercator Lines Limited - India
- Indo Tambangraya Megah - Indonesia
- Borneo Indobara - Indonesia
- Straits Asia Resources Limited - Singapore
- Malabar Cements Ltd - India
- Port Waratah Coal Services - Australia
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