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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, 29 July 11
5300 ADB COAL WILL BE AT US$ 60/TON IN THIS QUARTER - RAIN
COALspot.com - PT Resource Alam Indonesia Tbk (KKGI) seeing the average selling price of its coal for the third quarter of this year will increase t ...
Thursday, 28 July 11
PTBA'S COAL PRICES UP IN H1 2011
COALspot.com - Bukit Asam’s coal prices in the second half of 2011 will expected to be higher than the first half of this year, said Sukrisno, ...
Thursday, 28 July 11
RESOURCE ALAM 1H PROFIT SURGES 208 PERCENT
Indonesia's tenth largest coal miner in term of concessions, PT Resource Alam Indonesia (KKGI), part of Rain Group, today reported a skyrocket net ...
Thursday, 28 July 11
DRY BULK MARKET EDGES FURTHER DOWN ON ADDED PRESSURE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The Baltic Dry Index (BDI), an indicator of dry bulk freight rates has reached new lows this week, with yesterday’s session ending further dow ...
Wednesday, 27 July 11
BLACKSTONE TO INVEST INR 5,000 MILLION (APPRX. US$ 111 MILLION) IN VISA POWER
Press Release - The Blackstone Group (NYSE: BX) today announced that it will be investing INR 5,000 million (c. USD 111 million) in VISA Power ...
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- Ministry of Mines - Canada
- VISA Power Limited - India
- Karaikal Port Pvt Ltd - India
- Electricity Authority, New Zealand
- Petrochimia International Co. Ltd.- Taiwan
- Rio Tinto Coal - Australia
- Manunggal Multi Energi - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Kepco SPC Power Corporation, Philippines
- Central Java Power - Indonesia
- Videocon Industries ltd - India
- McConnell Dowell - Australia
- Semirara Mining and Power Corporation, Philippines
- Indonesian Coal Mining Association
- CNBM International Corporation - China
- Independent Power Producers Association of India
- Tata Chemicals Ltd - India
- Grasim Industreis Ltd - India
- Minerals Council of Australia
- European Bulk Services B.V. - Netherlands
- Merrill Lynch Commodities Europe
- Sinarmas Energy and Mining - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Star Paper Mills Limited - India
- SMC Global Power, Philippines
- San Jose City I Power Corp, Philippines
- Gujarat Electricity Regulatory Commission - India
- Makarim & Taira - Indonesia
- South Luzon Thermal Energy Corporation
- Deloitte Consulting - India
- Jindal Steel & Power Ltd - India
- Cement Manufacturers Association - India
- Timah Investasi Mineral - Indoneisa
- Maheswari Brothers Coal Limited - India
- Altura Mining Limited, Indonesia
- MS Steel International - UAE
- Carbofer General Trading SA - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Siam City Cement PLC, Thailand
- Energy Development Corp, Philippines
- Malabar Cements Ltd - India
- Edison Trading Spa - Italy
- SMG Consultants - Indonesia
- Sakthi Sugars Limited - India
- Ambuja Cements Ltd - India
- Bulk Trading Sa - Switzerland
- Heidelberg Cement - Germany
- Semirara Mining Corp, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Riau Bara Harum - Indonesia
- Indogreen Group - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Eastern Coal Council - USA
- Thai Mozambique Logistica
- Offshore Bulk Terminal Pte Ltd, Singapore
- India Bulls Power Limited - India
- LBH Netherlands Bv - Netherlands
- International Coal Ventures Pvt Ltd - India
- Goldman Sachs - Singapore
- Planning Commission, India
- Kaltim Prima Coal - Indonesia
- Oldendorff Carriers - Singapore
- Agrawal Coal Company - India
- Maharashtra Electricity Regulatory Commission - India
- Pipit Mutiara Jaya. PT, Indonesia
- Leighton Contractors Pty Ltd - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Price Waterhouse Coopers - Russia
- Indika Energy - Indonesia
- Sical Logistics Limited - India
- Australian Coal Association
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Larsen & Toubro Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Borneo Indobara - Indonesia
- New Zealand Coal & Carbon
- Ceylon Electricity Board - Sri Lanka
- Ministry of Transport, Egypt
- CIMB Investment Bank - Malaysia
- Kapuas Tunggal Persada - Indonesia
- Port Waratah Coal Services - Australia
- ICICI Bank Limited - India
- Global Business Power Corporation, Philippines
- Australian Commodity Traders Exchange
- Coalindo Energy - Indonesia
- Barasentosa Lestari - Indonesia
- Mercuria Energy - Indonesia
- Essar Steel Hazira Ltd - India
- SN Aboitiz Power Inc, Philippines
- Indian Oil Corporation Limited
- Tamil Nadu electricity Board
- TNB Fuel Sdn Bhd - Malaysia
- GVK Power & Infra Limited - India
- Coastal Gujarat Power Limited - India
- Simpson Spence & Young - Indonesia
- Vedanta Resources Plc - India
- Africa Commodities Group - South Africa
- Binh Thuan Hamico - Vietnam
- Asia Pacific Energy Resources Ventures Inc, Philippines
- IHS Mccloskey Coal Group - USA
- Sarangani Energy Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Coal and Oil Company - UAE
- PTC India Limited - India
- Billiton Holdings Pty Ltd - Australia
- Banpu Public Company Limited - Thailand
- White Energy Company Limited
- Commonwealth Bank - Australia
- Electricity Generating Authority of Thailand
- Globalindo Alam Lestari - Indonesia
- Anglo American - United Kingdom
- Neyveli Lignite Corporation Ltd, - India
- The University of Queensland
- Jorong Barutama Greston.PT - Indonesia
- PowerSource Philippines DevCo
- Gujarat Mineral Development Corp Ltd - India
- Salva Resources Pvt Ltd - India
- Interocean Group of Companies - India
- Bayan Resources Tbk. - Indonesia
- Sindya Power Generating Company Private Ltd
- Singapore Mercantile Exchange
- Energy Link Ltd, New Zealand
- Bangladesh Power Developement Board
- Parliament of New Zealand
- Kobexindo Tractors - Indoneisa
- Standard Chartered Bank - UAE
- TeaM Sual Corporation - Philippines
- Global Green Power PLC Corporation, Philippines
- Aditya Birla Group - India
- Bhushan Steel Limited - India
- Meralco Power Generation, Philippines
- Latin American Coal - Colombia
- Sojitz Corporation - Japan
- Posco Energy - South Korea
- Gujarat Sidhee Cement - India
- Georgia Ports Authority, United States
- Formosa Plastics Group - Taiwan
- Directorate Of Revenue Intelligence - India
- GAC Shipping (India) Pvt Ltd
- Antam Resourcindo - Indonesia
- Indo Tambangraya Megah - Indonesia
- Meenaskhi Energy Private Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Orica Australia Pty. Ltd.
- Kartika Selabumi Mining - Indonesia
- Orica Mining Services - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Renaissance Capital - South Africa
- Uttam Galva Steels Limited - India
- OPG Power Generation Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Ministry of Finance - Indonesia
- Iligan Light & Power Inc, Philippines
- Indian Energy Exchange, India
- Holcim Trading Pte Ltd - Singapore
- Wood Mackenzie - Singapore
- Trasteel International SA, Italy
- Chettinad Cement Corporation Ltd - India
- Siam City Cement - Thailand
- Mintek Dendrill Indonesia
- GMR Energy Limited - India
- Chamber of Mines of South Africa
- Therma Luzon, Inc, Philippines
- Straits Asia Resources Limited - Singapore
- Bukit Makmur.PT - Indonesia
- London Commodity Brokers - England
- Global Coal Blending Company Limited - Australia
- Intertek Mineral Services - Indonesia
- Thiess Contractors Indonesia
- Krishnapatnam Port Company Ltd. - India
- Bharathi Cement Corporation - India
- Toyota Tsusho Corporation, Japan
- Aboitiz Power Corporation - Philippines
- Marubeni Corporation - India
- Kideco Jaya Agung - Indonesia
- Lanco Infratech Ltd - India
- ASAPP Information Group - India
- Xindia Steels Limited - India
- Kumho Petrochemical, South Korea
- Central Electricity Authority - India
- Bhoruka Overseas - Indonesia
- Mjunction Services Limited - India
- Medco Energi Mining Internasional
- Metalloyd Limited - United Kingdom
- Bhatia International Limited - India
- Baramulti Group, Indonesia
- PNOC Exploration Corporation - Philippines
- Vizag Seaport Private Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Power Finance Corporation Ltd., India
- AsiaOL BioFuels Corp., Philippines
- IEA Clean Coal Centre - UK
- Attock Cement Pakistan Limited
- Economic Council, Georgia
- Romanian Commodities Exchange
- Savvy Resources Ltd - HongKong
- Samtan Co., Ltd - South Korea
- Sree Jayajothi Cements Limited - India
- Jaiprakash Power Ventures ltd
- Madhucon Powers Ltd - India
- Parry Sugars Refinery, India
- Ind-Barath Power Infra Limited - India
- Wilmar Investment Holdings
- The State Trading Corporation of India Ltd
- Pendopo Energi Batubara - Indonesia
- Dalmia Cement Bharat India
- Petron Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Kohat Cement Company Ltd. - Pakistan
- Bukit Baiduri Energy - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Eastern Energy - Thailand
- Mercator Lines Limited - India
- The Treasury - Australian Government
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