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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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Thursday, 14 July 11
INDO GOVT. SETS JULY COAL REFERENCE PRICE AT US$ 118.24 PER TON
COALspot.com - The Ministry of Energy & Mineral Resources of Indonesia sets coal spot price benchmark for July 2011 at US$ 118.24 per ton, US$ 0 ...
Thursday, 14 July 11
DRY BULK MARKET KEEPS FALLING ON WEAK CAPESIZE SENTIMENT - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market kept on retreating on Wednesday, with the Baltic Dry Index (BDI) falling to 1,383 points, from 1,411 of the previous day. Capesi ...
Thursday, 14 July 11
UNITED TRACTORS BUYS DUTA SEJAHTERA - INSIDER STORIES
Insider Stories reported that, PT United Tractors Tbk (UNTR), via a wholly-owned subsidiary PT Tuah Turangga Agung, will acquire PT Duta Sejahtera a ...
Wednesday, 13 July 11
ANOTHER FIRMER WEEK FOR THE CAPES - BRS
Barry Rogliano Salles reported that, there were mixed results for the dry bulk market this week: the Capesize and Panamax markets performed well gai ...
Tuesday, 12 July 11
INDONESIAN MINERS PLAN $70M INVESTMENT TO UPGRADE QUALITY OF COAL - THE JAKARTA GLOBE
One of the leading english language news paper in indonesia, the Jakarta globe reported that, as the government implements a ban on the export of po ...
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- Coalindo Energy - Indonesia
- Riau Bara Harum - Indonesia
- International Coal Ventures Pvt Ltd - India
- Makarim & Taira - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Sojitz Corporation - Japan
- Malabar Cements Ltd - India
- Oldendorff Carriers - Singapore
- AsiaOL BioFuels Corp., Philippines
- Indonesian Coal Mining Association
- The State Trading Corporation of India Ltd
- Indo Tambangraya Megah - Indonesia
- Energy Link Ltd, New Zealand
- Billiton Holdings Pty Ltd - Australia
- Coal and Oil Company - UAE
- Kapuas Tunggal Persada - Indonesia
- GAC Shipping (India) Pvt Ltd
- Planning Commission, India
- Kartika Selabumi Mining - Indonesia
- LBH Netherlands Bv - Netherlands
- India Bulls Power Limited - India
- Sarangani Energy Corporation, Philippines
- Wilmar Investment Holdings
- Sakthi Sugars Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Mercator Lines Limited - India
- Thai Mozambique Logistica
- Gujarat Sidhee Cement - India
- South Luzon Thermal Energy Corporation
- Kumho Petrochemical, South Korea
- Thiess Contractors Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Tata Chemicals Ltd - India
- ASAPP Information Group - India
- Commonwealth Bank - Australia
- Posco Energy - South Korea
- Antam Resourcindo - Indonesia
- Aditya Birla Group - India
- San Jose City I Power Corp, Philippines
- Tamil Nadu electricity Board
- Minerals Council of Australia
- SMC Global Power, Philippines
- VISA Power Limited - India
- Grasim Industreis Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ministry of Mines - Canada
- CIMB Investment Bank - Malaysia
- Offshore Bulk Terminal Pte Ltd, Singapore
- PTC India Limited - India
- Bayan Resources Tbk. - Indonesia
- Krishnapatnam Port Company Ltd. - India
- ICICI Bank Limited - India
- Bharathi Cement Corporation - India
- Mercuria Energy - Indonesia
- The Treasury - Australian Government
- Directorate General of MIneral and Coal - Indonesia
- Global Coal Blending Company Limited - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indian Energy Exchange, India
- Altura Mining Limited, Indonesia
- Mintek Dendrill Indonesia
- Edison Trading Spa - Italy
- Bukit Makmur.PT - Indonesia
- IHS Mccloskey Coal Group - USA
- Savvy Resources Ltd - HongKong
- Iligan Light & Power Inc, Philippines
- New Zealand Coal & Carbon
- Deloitte Consulting - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- The University of Queensland
- Pipit Mutiara Jaya. PT, Indonesia
- Sical Logistics Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Heidelberg Cement - Germany
- Therma Luzon, Inc, Philippines
- GN Power Mariveles Coal Plant, Philippines
- OPG Power Generation Pvt Ltd - India
- Port Waratah Coal Services - Australia
- TeaM Sual Corporation - Philippines
- Madhucon Powers Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Kideco Jaya Agung - Indonesia
- Directorate Of Revenue Intelligence - India
- Xindia Steels Limited - India
- Agrawal Coal Company - India
- IEA Clean Coal Centre - UK
- Ministry of Transport, Egypt
- Leighton Contractors Pty Ltd - Australia
- Manunggal Multi Energi - Indonesia
- Intertek Mineral Services - Indonesia
- Siam City Cement PLC, Thailand
- Toyota Tsusho Corporation, Japan
- Wood Mackenzie - Singapore
- PowerSource Philippines DevCo
- Miang Besar Coal Terminal - Indonesia
- Bulk Trading Sa - Switzerland
- Straits Asia Resources Limited - Singapore
- Carbofer General Trading SA - India
- Pendopo Energi Batubara - Indonesia
- CNBM International Corporation - China
- Videocon Industries ltd - India
- PNOC Exploration Corporation - Philippines
- Borneo Indobara - Indonesia
- SN Aboitiz Power Inc, Philippines
- Alfred C Toepfer International GmbH - Germany
- Sindya Power Generating Company Private Ltd
- Price Waterhouse Coopers - Russia
- Bahari Cakrawala Sebuku - Indonesia
- Meenaskhi Energy Private Limited - India
- Ministry of Finance - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Romanian Commodities Exchange
- European Bulk Services B.V. - Netherlands
- White Energy Company Limited
- Attock Cement Pakistan Limited
- Mjunction Services Limited - India
- Global Green Power PLC Corporation, Philippines
- Bhoruka Overseas - Indonesia
- Bukit Baiduri Energy - Indonesia
- Energy Development Corp, Philippines
- Standard Chartered Bank - UAE
- Essar Steel Hazira Ltd - India
- Salva Resources Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- Timah Investasi Mineral - Indoneisa
- Vijayanagar Sugar Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Jaiprakash Power Ventures ltd
- Ceylon Electricity Board - Sri Lanka
- Ind-Barath Power Infra Limited - India
- Holcim Trading Pte Ltd - Singapore
- Central Java Power - Indonesia
- Global Business Power Corporation, Philippines
- Coastal Gujarat Power Limited - India
- Siam City Cement - Thailand
- Bangladesh Power Developement Board
- Maharashtra Electricity Regulatory Commission - India
- Orica Australia Pty. Ltd.
- Star Paper Mills Limited - India
- Rio Tinto Coal - Australia
- Chamber of Mines of South Africa
- Kobexindo Tractors - Indoneisa
- GMR Energy Limited - India
- Dalmia Cement Bharat India
- Gujarat Electricity Regulatory Commission - India
- Electricity Generating Authority of Thailand
- Vedanta Resources Plc - India
- Economic Council, Georgia
- GVK Power & Infra Limited - India
- Bhatia International Limited - India
- London Commodity Brokers - England
- Formosa Plastics Group - Taiwan
- PetroVietnam Power Coal Import and Supply Company
- Larsen & Toubro Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Power Finance Corporation Ltd., India
- Vizag Seaport Private Limited - India
- Orica Mining Services - Indonesia
- Maheswari Brothers Coal Limited - India
- Bhushan Steel Limited - India
- Binh Thuan Hamico - Vietnam
- Lanco Infratech Ltd - India
- Indian Oil Corporation Limited
- Bukit Asam (Persero) Tbk - Indonesia
- Eastern Energy - Thailand
- Jindal Steel & Power Ltd - India
- Simpson Spence & Young - Indonesia
- Sree Jayajothi Cements Limited - India
- Metalloyd Limited - United Kingdom
- Indogreen Group - Indonesia
- Marubeni Corporation - India
- Medco Energi Mining Internasional
- Sinarmas Energy and Mining - Indonesia
- Australian Commodity Traders Exchange
- Kepco SPC Power Corporation, Philippines
- Latin American Coal - Colombia
- Renaissance Capital - South Africa
- Karaikal Port Pvt Ltd - India
- Merrill Lynch Commodities Europe
- Kaltim Prima Coal - Indonesia
- Trasteel International SA, Italy
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Electricity Authority, New Zealand
- Petron Corporation, Philippines
- Indika Energy - Indonesia
- Independent Power Producers Association of India
- Australian Coal Association
- Eastern Coal Council - USA
- Singapore Mercantile Exchange
- Georgia Ports Authority, United States
- Semirara Mining Corp, Philippines
- Kohat Cement Company Ltd. - Pakistan
- SMG Consultants - Indonesia
- Banpu Public Company Limited - Thailand
- Ambuja Cements Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Asmin Koalindo Tuhup - Indonesia
- Central Electricity Authority - India
- Uttam Galva Steels Limited - India
- Aboitiz Power Corporation - Philippines
- Chettinad Cement Corporation Ltd - India
- Anglo American - United Kingdom
- Goldman Sachs - Singapore
- Parliament of New Zealand
- Meralco Power Generation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Cement Manufacturers Association - India
- Barasentosa Lestari - Indonesia
- McConnell Dowell - Australia
- Parry Sugars Refinery, India
- MS Steel International - UAE
- Globalindo Alam Lestari - Indonesia
- Interocean Group of Companies - India
- Africa Commodities Group - South Africa
- Cigading International Bulk Terminal - Indonesia
- Baramulti Group, Indonesia
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