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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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Saturday, 23 July 11
PANAMAX MARKET FACED A LIMITED ACTIVITY IN ALL BASINS
Handy
Atlantic softening across all segments with little fresh enquiry ex Bsea/Cont/USG and ECSA. Trips to Far east remain healthy. More cargoes ex ...
Friday, 22 July 11
MARUBENI ACQUIRING 42.86% SHARE OF YTL JAWA POWER HOLDINGS
COALspot.com - Japan’s Marubeni Corporation acquisition 42.86% stake in YTL Jawa Power Holdings BV, which owns a 35% equity interest in Indone ...
Thursday, 21 July 11
INDIA IMPORTS 36.033 MILLION TONS OF INDONESIAN COAL TILL JUNE
COALspot.com - Indonesia shipped 28.27 Million tons of coal in June 2011, a 2.3 percent lesser than May export of about 28.962 million tons, I ...
Thursday, 21 July 11
COAL PRICES ARE AT US$ 120 A TONNE
COALspot.com - Indonesian coal production in 2011 is expected to reach 360 million tons or 5.8 percent higher than government's forecasts. The incr ...
Thursday, 21 July 11
DRY BULK RATES EDGE FURTHER DOWN ON WEAK MARKET SENTIMENT - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market fell once again on Wednesday marking the ninth straight day of losses. The industry’s benchmark, the Baltic Dry Index (BDI ...
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- Attock Cement Pakistan Limited
- Independent Power Producers Association of India
- Kalimantan Lumbung Energi - Indonesia
- Ambuja Cements Ltd - India
- Star Paper Mills Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Orica Australia Pty. Ltd.
- Central Electricity Authority - India
- Larsen & Toubro Limited - India
- Aboitiz Power Corporation - Philippines
- Edison Trading Spa - Italy
- Mercuria Energy - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Dalmia Cement Bharat India
- Central Java Power - Indonesia
- Minerals Council of Australia
- Ministry of Transport, Egypt
- IEA Clean Coal Centre - UK
- Sakthi Sugars Limited - India
- Singapore Mercantile Exchange
- London Commodity Brokers - England
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Economic Council, Georgia
- European Bulk Services B.V. - Netherlands
- Indo Tambangraya Megah - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Orica Mining Services - Indonesia
- SN Aboitiz Power Inc, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Toyota Tsusho Corporation, Japan
- PowerSource Philippines DevCo
- Indonesian Coal Mining Association
- Gujarat Electricity Regulatory Commission - India
- Neyveli Lignite Corporation Ltd, - India
- IHS Mccloskey Coal Group - USA
- Bhushan Steel Limited - India
- Latin American Coal - Colombia
- Indian Oil Corporation Limited
- International Coal Ventures Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- Krishnapatnam Port Company Ltd. - India
- Cement Manufacturers Association - India
- Kapuas Tunggal Persada - Indonesia
- CIMB Investment Bank - Malaysia
- Petron Corporation, Philippines
- Tamil Nadu electricity Board
- GN Power Mariveles Coal Plant, Philippines
- Thiess Contractors Indonesia
- Borneo Indobara - Indonesia
- San Jose City I Power Corp, Philippines
- Thai Mozambique Logistica
- Lanco Infratech Ltd - India
- Parliament of New Zealand
- Indian Energy Exchange, India
- Samtan Co., Ltd - South Korea
- Karbindo Abesyapradhi - Indoneisa
- Carbofer General Trading SA - India
- Planning Commission, India
- Bhatia International Limited - India
- Wood Mackenzie - Singapore
- Rio Tinto Coal - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indika Energy - Indonesia
- New Zealand Coal & Carbon
- Pendopo Energi Batubara - Indonesia
- Binh Thuan Hamico - Vietnam
- Barasentosa Lestari - Indonesia
- Straits Asia Resources Limited - Singapore
- Sinarmas Energy and Mining - Indonesia
- Electricity Generating Authority of Thailand
- Semirara Mining and Power Corporation, Philippines
- Banpu Public Company Limited - Thailand
- Directorate General of MIneral and Coal - Indonesia
- Cigading International Bulk Terminal - Indonesia
- GAC Shipping (India) Pvt Ltd
- Port Waratah Coal Services - Australia
- VISA Power Limited - India
- Videocon Industries ltd - India
- Salva Resources Pvt Ltd - India
- Uttam Galva Steels Limited - India
- Manunggal Multi Energi - Indonesia
- Bukit Baiduri Energy - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Billiton Holdings Pty Ltd - Australia
- Gujarat Sidhee Cement - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Posco Energy - South Korea
- LBH Netherlands Bv - Netherlands
- Simpson Spence & Young - Indonesia
- Globalindo Alam Lestari - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Jindal Steel & Power Ltd - India
- Global Business Power Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Ministry of Finance - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Aditya Birla Group - India
- Iligan Light & Power Inc, Philippines
- Coalindo Energy - Indonesia
- Sindya Power Generating Company Private Ltd
- Deloitte Consulting - India
- OPG Power Generation Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- Xindia Steels Limited - India
- Kideco Jaya Agung - Indonesia
- Kobexindo Tractors - Indoneisa
- Semirara Mining Corp, Philippines
- Malabar Cements Ltd - India
- Bulk Trading Sa - Switzerland
- Energy Development Corp, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Antam Resourcindo - Indonesia
- Vedanta Resources Plc - India
- Meenaskhi Energy Private Limited - India
- Mjunction Services Limited - India
- Energy Link Ltd, New Zealand
- Marubeni Corporation - India
- Chettinad Cement Corporation Ltd - India
- Global Coal Blending Company Limited - Australia
- Ministry of Mines - Canada
- Coal and Oil Company - UAE
- Goldman Sachs - Singapore
- Essar Steel Hazira Ltd - India
- Coastal Gujarat Power Limited - India
- Australian Commodity Traders Exchange
- Australian Coal Association
- SMG Consultants - Indonesia
- The University of Queensland
- Mintek Dendrill Indonesia
- White Energy Company Limited
- Karaikal Port Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Standard Chartered Bank - UAE
- SMC Global Power, Philippines
- Bhoruka Overseas - Indonesia
- PNOC Exploration Corporation - Philippines
- Bayan Resources Tbk. - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Bukit Makmur.PT - Indonesia
- Interocean Group of Companies - India
- Jaiprakash Power Ventures ltd
- Power Finance Corporation Ltd., India
- Grasim Industreis Ltd - India
- Sojitz Corporation - Japan
- Riau Bara Harum - Indonesia
- GVK Power & Infra Limited - India
- Kartika Selabumi Mining - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Renaissance Capital - South Africa
- Savvy Resources Ltd - HongKong
- Commonwealth Bank - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Madhucon Powers Ltd - India
- Kepco SPC Power Corporation, Philippines
- Meralco Power Generation, Philippines
- Electricity Authority, New Zealand
- Kumho Petrochemical, South Korea
- Wilmar Investment Holdings
- Sree Jayajothi Cements Limited - India
- Medco Energi Mining Internasional
- Vizag Seaport Private Limited - India
- Parry Sugars Refinery, India
- Makarim & Taira - Indonesia
- Heidelberg Cement - Germany
- CNBM International Corporation - China
- Oldendorff Carriers - Singapore
- Maheswari Brothers Coal Limited - India
- Altura Mining Limited, Indonesia
- MS Steel International - UAE
- Formosa Plastics Group - Taiwan
- Merrill Lynch Commodities Europe
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Alfred C Toepfer International GmbH - Germany
- The Treasury - Australian Government
- PetroVietnam Power Coal Import and Supply Company
- Chamber of Mines of South Africa
- Therma Luzon, Inc, Philippines
- South Luzon Thermal Energy Corporation
- Siam City Cement PLC, Thailand
- Bahari Cakrawala Sebuku - Indonesia
- Sical Logistics Limited - India
- The State Trading Corporation of India Ltd
- Petrochimia International Co. Ltd.- Taiwan
- Timah Investasi Mineral - Indoneisa
- PTC India Limited - India
- Africa Commodities Group - South Africa
- Eastern Coal Council - USA
- GMR Energy Limited - India
- Sarangani Energy Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Kaltim Prima Coal - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Mercator Lines Limited - India
- Leighton Contractors Pty Ltd - Australia
- Intertek Mineral Services - Indonesia
- Directorate Of Revenue Intelligence - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Baramulti Group, Indonesia
- Siam City Cement - Thailand
- Romanian Commodities Exchange
- McConnell Dowell - Australia
- Ind-Barath Power Infra Limited - India
- Agrawal Coal Company - India
- Eastern Energy - Thailand
- Georgia Ports Authority, United States
- Indogreen Group - Indonesia
- Bangladesh Power Developement Board
- India Bulls Power Limited - India
- TeaM Sual Corporation - Philippines
- Tata Chemicals Ltd - India
- Bharathi Cement Corporation - India
- ASAPP Information Group - India
- Trasteel International SA, Italy
- Ceylon Electricity Board - Sri Lanka
- Anglo American - United Kingdom
- Price Waterhouse Coopers - Russia
- ICICI Bank Limited - India
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