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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, 20 July 11
ANTWERP RECEIVES THE CAPESIZE MG COURAGE
The deepening of the Western Scheldt has made the port of Antwerp easily accessible not only to Ultra Large Container Ships of over 10,000 TEU but a ...
Wednesday, 20 July 11
KALIMANTAN GOLD APPOINTS COMMISSIONER TO SUBSIDIARY
Kalimantan Gold Corporation Limited has announced the appointment of Dr. Bambang Setiawan as Commissioner (a senior advisor) to the Board of PT Kali ...
Wednesday, 20 July 11
CHALLENGER GETS TABANG PROJECT IUP PERMIT
COALspot.com - Challenger Deep Resources Corporation has been getting exploration permit or Izin Usaha Pertambangan (IUP) for its Tabang coal in Eas ...
Wednesday, 20 July 11
TCM COAL PROJECT IN SOUTH KALIMANTAN MOVES TO FINAL FEASIBILITY STUDY
COALspot.com - Pan Asia Corporation Ltd has executed a formal agreement with an underground mining group KOPEX to undertake a final feasibilit ...
Wednesday, 20 July 11
DRY BULK MARKET KEEPS ON FALLING ON SOFTENING CONDITIONS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market retreated to lower ground on Tuesday, as the industry’s benchmark, the BDI (Baltic Dry Index) fell to 1,330 points, down b ...
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- Energy Link Ltd, New Zealand
- Leighton Contractors Pty Ltd - Australia
- Medco Energi Mining Internasional
- Straits Asia Resources Limited - Singapore
- GAC Shipping (India) Pvt Ltd
- Tata Chemicals Ltd - India
- Metalloyd Limited - United Kingdom
- Manunggal Multi Energi - Indonesia
- Sakthi Sugars Limited - India
- Global Green Power PLC Corporation, Philippines
- IEA Clean Coal Centre - UK
- Antam Resourcindo - Indonesia
- Timah Investasi Mineral - Indoneisa
- Globalindo Alam Lestari - Indonesia
- SMC Global Power, Philippines
- Billiton Holdings Pty Ltd - Australia
- Binh Thuan Hamico - Vietnam
- Jaiprakash Power Ventures ltd
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Gujarat Electricity Regulatory Commission - India
- Sinarmas Energy and Mining - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Bayan Resources Tbk. - Indonesia
- Coalindo Energy - Indonesia
- Kartika Selabumi Mining - Indonesia
- Toyota Tsusho Corporation, Japan
- PNOC Exploration Corporation - Philippines
- Sree Jayajothi Cements Limited - India
- Bangladesh Power Developement Board
- SN Aboitiz Power Inc, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Parry Sugars Refinery, India
- Vijayanagar Sugar Pvt Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- The State Trading Corporation of India Ltd
- Vizag Seaport Private Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Siam City Cement - Thailand
- MS Steel International - UAE
- Makarim & Taira - Indonesia
- IHS Mccloskey Coal Group - USA
- McConnell Dowell - Australia
- Indika Energy - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Thai Mozambique Logistica
- Videocon Industries ltd - India
- International Coal Ventures Pvt Ltd - India
- Oldendorff Carriers - Singapore
- Dalmia Cement Bharat India
- Global Business Power Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- Coastal Gujarat Power Limited - India
- Holcim Trading Pte Ltd - Singapore
- Posco Energy - South Korea
- PTC India Limited - India
- Power Finance Corporation Ltd., India
- Singapore Mercantile Exchange
- Directorate Of Revenue Intelligence - India
- Essar Steel Hazira Ltd - India
- Banpu Public Company Limited - Thailand
- Ministry of Finance - Indonesia
- PowerSource Philippines DevCo
- Attock Cement Pakistan Limited
- Asmin Koalindo Tuhup - Indonesia
- Kepco SPC Power Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- ASAPP Information Group - India
- Sarangani Energy Corporation, Philippines
- Interocean Group of Companies - India
- Salva Resources Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Renaissance Capital - South Africa
- Bulk Trading Sa - Switzerland
- Grasim Industreis Ltd - India
- Aboitiz Power Corporation - Philippines
- Borneo Indobara - Indonesia
- Formosa Plastics Group - Taiwan
- Semirara Mining Corp, Philippines
- SMG Consultants - Indonesia
- Therma Luzon, Inc, Philippines
- European Bulk Services B.V. - Netherlands
- Eastern Coal Council - USA
- Romanian Commodities Exchange
- Electricity Generating Authority of Thailand
- Baramulti Group, Indonesia
- Merrill Lynch Commodities Europe
- Kobexindo Tractors - Indoneisa
- Karbindo Abesyapradhi - Indoneisa
- CIMB Investment Bank - Malaysia
- Bukit Asam (Persero) Tbk - Indonesia
- Vedanta Resources Plc - India
- San Jose City I Power Corp, Philippines
- Latin American Coal - Colombia
- Wilmar Investment Holdings
- Edison Trading Spa - Italy
- Jindal Steel & Power Ltd - India
- Global Coal Blending Company Limited - Australia
- Planning Commission, India
- Neyveli Lignite Corporation Ltd, - India
- Simpson Spence & Young - Indonesia
- Cement Manufacturers Association - India
- Directorate General of MIneral and Coal - Indonesia
- Standard Chartered Bank - UAE
- Indonesian Coal Mining Association
- Cigading International Bulk Terminal - Indonesia
- London Commodity Brokers - England
- Orica Mining Services - Indonesia
- Economic Council, Georgia
- Pipit Mutiara Jaya. PT, Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Malabar Cements Ltd - India
- Goldman Sachs - Singapore
- Marubeni Corporation - India
- India Bulls Power Limited - India
- Madhucon Powers Ltd - India
- Bukit Makmur.PT - Indonesia
- Petron Corporation, Philippines
- Independent Power Producers Association of India
- Ceylon Electricity Board - Sri Lanka
- Semirara Mining and Power Corporation, Philippines
- Sojitz Corporation - Japan
- Krishnapatnam Port Company Ltd. - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Parliament of New Zealand
- Thiess Contractors Indonesia
- Anglo American - United Kingdom
- Australian Commodity Traders Exchange
- Tamil Nadu electricity Board
- Mercator Lines Limited - India
- LBH Netherlands Bv - Netherlands
- Kapuas Tunggal Persada - Indonesia
- Indo Tambangraya Megah - Indonesia
- Mintek Dendrill Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Sical Logistics Limited - India
- Sindya Power Generating Company Private Ltd
- Altura Mining Limited, Indonesia
- Uttam Galva Steels Limited - India
- Mercuria Energy - Indonesia
- Bhatia International Limited - India
- Kumho Petrochemical, South Korea
- Karaikal Port Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- Samtan Co., Ltd - South Korea
- Indian Oil Corporation Limited
- Meenaskhi Energy Private Limited - India
- Heidelberg Cement - Germany
- Savvy Resources Ltd - HongKong
- AsiaOL BioFuels Corp., Philippines
- Mjunction Services Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Price Waterhouse Coopers - Russia
- Carbofer General Trading SA - India
- Trasteel International SA, Italy
- Pendopo Energi Batubara - Indonesia
- Electricity Authority, New Zealand
- White Energy Company Limited
- Star Paper Mills Limited - India
- Ministry of Mines - Canada
- Bharathi Cement Corporation - India
- GVK Power & Infra Limited - India
- CNBM International Corporation - China
- Kaltim Prima Coal - Indonesia
- Alfred C Toepfer International GmbH - Germany
- The Treasury - Australian Government
- Rio Tinto Coal - Australia
- VISA Power Limited - India
- TeaM Sual Corporation - Philippines
- Central Java Power - Indonesia
- Meralco Power Generation, Philippines
- Coal and Oil Company - UAE
- Bahari Cakrawala Sebuku - Indonesia
- Gujarat Sidhee Cement - India
- Maheswari Brothers Coal Limited - India
- Australian Coal Association
- Chamber of Mines of South Africa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Rashtriya Ispat Nigam Limited - India
- Intertek Mineral Services - Indonesia
- Xindia Steels Limited - India
- Siam City Cement PLC, Thailand
- Aditya Birla Group - India
- ICICI Bank Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Commonwealth Bank - Australia
- Orica Australia Pty. Ltd.
- Indogreen Group - Indonesia
- Ministry of Transport, Egypt
- New Zealand Coal & Carbon
- Africa Commodities Group - South Africa
- Larsen & Toubro Limited - India
- Bhushan Steel Limited - India
- Energy Development Corp, Philippines
- Central Electricity Authority - India
- Wood Mackenzie - Singapore
- Eastern Energy - Thailand
- Ambuja Cements Ltd - India
- Agrawal Coal Company - India
- Indian Energy Exchange, India
- The University of Queensland
- Riau Bara Harum - Indonesia
- Georgia Ports Authority, United States
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bhoruka Overseas - Indonesia
- Lanco Infratech Ltd - India
- Minerals Council of Australia
- Chettinad Cement Corporation Ltd - India
- Deloitte Consulting - India
- Barasentosa Lestari - Indonesia
- Kideco Jaya Agung - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- GMR Energy Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Iligan Light & Power Inc, Philippines
- Port Waratah Coal Services - Australia
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