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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, 10 August 11
KILLARA RESOURCES TO ACQUIRE SIX COAL CONCESSIONS OF TASON HOLDINGS
COALspot.com - Killara Resources Limited, an Australian listed company has formed PT Tavesco Killara Energy (TKE), a joint company with PT Tavesco I ...
Wednesday, 10 August 11
RESOURCE NATIONALISM IS MAIN BUSINESS RISK FOR MINING SECTORS, E&Y SURVEY
Resource nationalism is top of the business risk list for mining and metals companies around the world, while supply capacity constraint issues cont ...
Wednesday, 10 August 11
INDONESIAN COAL MINING ASSOCIATION OPPOSES LOW-GRADE COAL EXPORT BAN
COALspot.com - The Indonesian Coal Mining Association (ICMA) frowns on and challenges the government plan to ban the low-grade coal export inf ...
Wednesday, 10 August 11
ABM INVESTAMA TO OFFLOAD 20% IPO
Integrated coal mining PT ABM Investama, affiliated company of Tiara Marga Trakindo Group, aims to dispose 20% stake during an initial public offeri ...
Tuesday, 09 August 11
INDONESIAS COAL PRODUCTION GREW BY 19.4% LAST YEAR - BP
COALspot.com - Indonesia’s coal production grew by 19.4% last year to 305.879 million tonnes from 256.181 million tonnes in 2009, the fastest ...
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- Edison Trading Spa - Italy
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- Parliament of New Zealand
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- Chamber of Mines of South Africa
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- Metalloyd Limited - United Kingdom
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- Minerals Council of Australia
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- Karbindo Abesyapradhi - Indoneisa
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- Coal and Oil Company - UAE
- McConnell Dowell - Australia
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- Billiton Holdings Pty Ltd - Australia
- Ministry of Transport, Egypt
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- Truba Alam Manunggal Engineering.Tbk - Indonesia
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- Energy Link Ltd, New Zealand
- New Zealand Coal & Carbon
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- TNB Fuel Sdn Bhd - Malaysia
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- CNBM International Corporation - China
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- The Treasury - Australian Government
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- SMG Consultants - Indonesia
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- MS Steel International - UAE
- Semirara Mining and Power Corporation, Philippines
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- Romanian Commodities Exchange
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- Sindya Power Generating Company Private Ltd
- Africa Commodities Group - South Africa
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- Planning Commission, India
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- The State Trading Corporation of India Ltd
- Kumho Petrochemical, South Korea
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- Toyota Tsusho Corporation, Japan
- Medco Energi Mining Internasional
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- Independent Power Producers Association of India
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- Economic Council, Georgia
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- Pendopo Energi Batubara - Indonesia
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- Bangladesh Power Developement Board
- Price Waterhouse Coopers - Russia
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- Siam City Cement PLC, Thailand
- Tamil Nadu electricity Board
- Asmin Koalindo Tuhup - Indonesia
- Commonwealth Bank - Australia
- Straits Asia Resources Limited - Singapore
- VISA Power Limited - India
- Madhucon Powers Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Global Green Power PLC Corporation, Philippines
- Electricity Authority, New Zealand
- Sical Logistics Limited - India
- Meenaskhi Energy Private Limited - India
- Formosa Plastics Group - Taiwan
- Holcim Trading Pte Ltd - Singapore
- Indian Oil Corporation Limited
- Global Coal Blending Company Limited - Australia
- Riau Bara Harum - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Agrawal Coal Company - India
- Maheswari Brothers Coal Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kideco Jaya Agung - Indonesia
- Orica Mining Services - Indonesia
- Siam City Cement - Thailand
- Ministry of Finance - Indonesia
- Lanco Infratech Ltd - India
- Deloitte Consulting - India
- Cigading International Bulk Terminal - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Posco Energy - South Korea
- The University of Queensland
- Eastern Coal Council - USA
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- Central Java Power - Indonesia
- Cement Manufacturers Association - India
- India Bulls Power Limited - India
- Makarim & Taira - Indonesia
- Ministry of Mines - Canada
- Krishnapatnam Port Company Ltd. - India
- Jindal Steel & Power Ltd - India
- Grasim Industreis Ltd - India
- GVK Power & Infra Limited - India
- Baramulti Group, Indonesia
- Eastern Energy - Thailand
- Rashtriya Ispat Nigam Limited - India
- Australian Coal Association
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- Singapore Mercantile Exchange
- LBH Netherlands Bv - Netherlands
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