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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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Tuesday, 26 July 11
UT'S SALES COULD REACH TO 8000 UNITS BY THE END OF 2011
COALspot.com - Sales of Komatsu heavy equipment in the domestic market in the first half of 2011 rose 59 percent to 4333 units compared to the same ...
Monday, 25 July 11
INDONESIA STATE ELECTRICITY COMPANY HAS BURNED 19 MMT OF COAL FOR FIRST HALF OF 2011
COALspot.com - Indonesia's State Electricity Company and other IPPs have burned 19 million tons of coal for first half of this year said,Pamudji Nu ...
Monday, 25 July 11
AKR CORPORINDO TO PRODUCE 0.3 MMT OF COAL BY DECEMBER
COALspot.com - PT AKR Corporindo (AKRA) began producing coal from its mine in Muara Teweh, Central Kalimantan. The company is targeting to pro ...
Sunday, 24 July 11
AN INDIAN PORT SETS A WORLD RECORD FOR CONVENTIONAL COAL DISCHARGE
COALspot.com - Krishnapatnam Port has set a World record for discharging 106,171 tons of steam coal in just 24 hrs using the conventional unloading sy ...
Saturday, 23 July 11
FAR EAST /SE ASIA ROUTE GAINED US$ 3000 HIGHER THAN LAST WEEK - VISTAAR
COALspot.com - The BDI further softened to by 2.22 pct and closed at 1323 points. The Cape and Panamax index also softened and closed at 1841 points ...
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- IHS Mccloskey Coal Group - USA
- GMR Energy Limited - India
- AsiaOL BioFuels Corp., Philippines
- Indika Energy - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Bukit Baiduri Energy - Indonesia
- Goldman Sachs - Singapore
- Metalloyd Limited - United Kingdom
- Renaissance Capital - South Africa
- Ministry of Finance - Indonesia
- Eastern Energy - Thailand
- Thiess Contractors Indonesia
- Commonwealth Bank - Australia
- SMG Consultants - Indonesia
- Energy Link Ltd, New Zealand
- Kideco Jaya Agung - Indonesia
- Malabar Cements Ltd - India
- Posco Energy - South Korea
- Kumho Petrochemical, South Korea
- Siam City Cement - Thailand
- Latin American Coal - Colombia
- Lanco Infratech Ltd - India
- McConnell Dowell - Australia
- Sakthi Sugars Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Rio Tinto Coal - Australia
- Aditya Birla Group - India
- SN Aboitiz Power Inc, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Binh Thuan Hamico - Vietnam
- Sarangani Energy Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Essar Steel Hazira Ltd - India
- Kaltim Prima Coal - Indonesia
- Central Electricity Authority - India
- Mercator Lines Limited - India
- Bukit Makmur.PT - Indonesia
- Meralco Power Generation, Philippines
- Planning Commission, India
- TeaM Sual Corporation - Philippines
- Bangladesh Power Developement Board
- Ambuja Cements Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Wilmar Investment Holdings
- VISA Power Limited - India
- Australian Commodity Traders Exchange
- Uttam Galva Steels Limited - India
- Singapore Mercantile Exchange
- London Commodity Brokers - England
- Medco Energi Mining Internasional
- Kartika Selabumi Mining - Indonesia
- New Zealand Coal & Carbon
- Bukit Asam (Persero) Tbk - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Mercuria Energy - Indonesia
- Carbofer General Trading SA - India
- San Jose City I Power Corp, Philippines
- Riau Bara Harum - Indonesia
- Bayan Resources Tbk. - Indonesia
- Central Java Power - Indonesia
- The University of Queensland
- LBH Netherlands Bv - Netherlands
- Baramulti Group, Indonesia
- Tata Chemicals Ltd - India
- Standard Chartered Bank - UAE
- Parliament of New Zealand
- Sojitz Corporation - Japan
- GVK Power & Infra Limited - India
- Ministry of Transport, Egypt
- PNOC Exploration Corporation - Philippines
- Kobexindo Tractors - Indoneisa
- Semirara Mining and Power Corporation, Philippines
- Romanian Commodities Exchange
- Directorate Of Revenue Intelligence - India
- Kepco SPC Power Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ceylon Electricity Board - Sri Lanka
- Interocean Group of Companies - India
- Bharathi Cement Corporation - India
- Ind-Barath Power Infra Limited - India
- Aboitiz Power Corporation - Philippines
- Petron Corporation, Philippines
- Mintek Dendrill Indonesia
- Attock Cement Pakistan Limited
- Orica Mining Services - Indonesia
- Vedanta Resources Plc - India
- The Treasury - Australian Government
- Miang Besar Coal Terminal - Indonesia
- MS Steel International - UAE
- Wood Mackenzie - Singapore
- Semirara Mining Corp, Philippines
- ICICI Bank Limited - India
- Cigading International Bulk Terminal - Indonesia
- Heidelberg Cement - Germany
- Africa Commodities Group - South Africa
- Electricity Authority, New Zealand
- Bulk Trading Sa - Switzerland
- Price Waterhouse Coopers - Russia
- Coal and Oil Company - UAE
- Independent Power Producers Association of India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- OPG Power Generation Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Siam City Cement PLC, Thailand
- Makarim & Taira - Indonesia
- Videocon Industries ltd - India
- Parry Sugars Refinery, India
- Salva Resources Pvt Ltd - India
- Cement Manufacturers Association - India
- Electricity Generating Authority of Thailand
- TNB Fuel Sdn Bhd - Malaysia
- Timah Investasi Mineral - Indoneisa
- Sinarmas Energy and Mining - Indonesia
- Vizag Seaport Private Limited - India
- Borneo Indobara - Indonesia
- PowerSource Philippines DevCo
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Xindia Steels Limited - India
- Thai Mozambique Logistica
- Star Paper Mills Limited - India
- Bhatia International Limited - India
- Pendopo Energi Batubara - Indonesia
- Formosa Plastics Group - Taiwan
- Marubeni Corporation - India
- Holcim Trading Pte Ltd - Singapore
- Economic Council, Georgia
- Orica Australia Pty. Ltd.
- Globalindo Alam Lestari - Indonesia
- Indogreen Group - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Grasim Industreis Ltd - India
- GAC Shipping (India) Pvt Ltd
- Deloitte Consulting - India
- CIMB Investment Bank - Malaysia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Power Finance Corporation Ltd., India
- Merrill Lynch Commodities Europe
- Barasentosa Lestari - Indonesia
- Coastal Gujarat Power Limited - India
- Banpu Public Company Limited - Thailand
- Dalmia Cement Bharat India
- Global Green Power PLC Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- Krishnapatnam Port Company Ltd. - India
- Gujarat Sidhee Cement - India
- Mjunction Services Limited - India
- Coalindo Energy - Indonesia
- Manunggal Multi Energi - Indonesia
- SMC Global Power, Philippines
- PTC India Limited - India
- Kapuas Tunggal Persada - Indonesia
- Madhucon Powers Ltd - India
- Simpson Spence & Young - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Larsen & Toubro Limited - India
- CNBM International Corporation - China
- Australian Coal Association
- Bhoruka Overseas - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- European Bulk Services B.V. - Netherlands
- Indian Oil Corporation Limited
- Anglo American - United Kingdom
- White Energy Company Limited
- Billiton Holdings Pty Ltd - Australia
- Antam Resourcindo - Indonesia
- Edison Trading Spa - Italy
- Georgia Ports Authority, United States
- Therma Luzon, Inc, Philippines
- Trasteel International SA, Italy
- Maheswari Brothers Coal Limited - India
- International Coal Ventures Pvt Ltd - India
- Sical Logistics Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Global Coal Blending Company Limited - Australia
- ASAPP Information Group - India
- Jindal Steel & Power Ltd - India
- Intertek Mineral Services - Indonesia
- South Luzon Thermal Energy Corporation
- Meenaskhi Energy Private Limited - India
- Altura Mining Limited, Indonesia
- Savvy Resources Ltd - HongKong
- Rashtriya Ispat Nigam Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Iligan Light & Power Inc, Philippines
- Ministry of Mines - Canada
- Eastern Coal Council - USA
- Bahari Cakrawala Sebuku - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Minerals Council of Australia
- Gujarat Electricity Regulatory Commission - India
- Chamber of Mines of South Africa
- Port Waratah Coal Services - Australia
- India Bulls Power Limited - India
- Chettinad Cement Corporation Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Gujarat Mineral Development Corp Ltd - India
- Indian Energy Exchange, India
- Global Business Power Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- Samtan Co., Ltd - South Korea
- Agrawal Coal Company - India
- Straits Asia Resources Limited - Singapore
- Bhushan Steel Limited - India
- Karaikal Port Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- The State Trading Corporation of India Ltd
- Tamil Nadu electricity Board
- Toyota Tsusho Corporation, Japan
- Oldendorff Carriers - Singapore
- Indonesian Coal Mining Association
- IEA Clean Coal Centre - UK
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Energy Development Corp, Philippines
- Directorate General of MIneral and Coal - Indonesia
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