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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, 12 July 11
DRY BULK MARKET BEGINS WEEK ON RETREAT MODE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
As was evident by the end of the previous week, the dry bulk market’s growth momentum was about to lose steam, something proven yesterday, whe ...
Monday, 11 July 11
REFLECTIONS ON THE FLEET REACHING ONE BILLION TONNES - CLARKSONS / HELLENIC SHIPPING
“A billion gross tonnes of shipping” has a nice ring to it. It presents the industry as a business of substance, with its 85,000 ships w ...
Sunday, 10 July 11
UNTR PROVIDES US$100 MIO TO TTA - INSIDER STORIES
PT United Tractors Tbk (UNTR) agreed to allocate US$100 million to its coal subsidiary dubbed PT Tuah Turangga Agung (TTA).The US$100 million was pa ...
Sunday, 10 July 11
HARDLY ANY CARGO FROM WC INDIA UNTIL END OF MONSOONS - VISTAAR
COALspot.com - The BDI continued to hold last week and firmed up by 27 points with cape and panama index supporting the BDI.
The BDI closed at 1, ...
Sunday, 10 July 11
PTBA INCREASES SHARES IN COAL TRAIN PROJECT - TEMPO INTERACTIVE
TEMPO Interactive reported that, PT Tambang Batubara Bukit Asam (PTBA) is still studying the plan to buy 20 percent of shares in the PT Bukit Asam T ...
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- Grasim Industreis Ltd - India
- PTC India Limited - India
- Indogreen Group - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Antam Resourcindo - Indonesia
- Indian Oil Corporation Limited
- Port Waratah Coal Services - Australia
- Leighton Contractors Pty Ltd - Australia
- Heidelberg Cement - Germany
- ASAPP Information Group - India
- Directorate Of Revenue Intelligence - India
- New Zealand Coal & Carbon
- Renaissance Capital - South Africa
- Barasentosa Lestari - Indonesia
- GMR Energy Limited - India
- Coal and Oil Company - UAE
- Banpu Public Company Limited - Thailand
- Kepco SPC Power Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- Bayan Resources Tbk. - Indonesia
- Baramulti Group, Indonesia
- Planning Commission, India
- MS Steel International - UAE
- Bahari Cakrawala Sebuku - Indonesia
- Sarangani Energy Corporation, Philippines
- Samtan Co., Ltd - South Korea
- Latin American Coal - Colombia
- Global Business Power Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- Mjunction Services Limited - India
- Gujarat Sidhee Cement - India
- Chettinad Cement Corporation Ltd - India
- Africa Commodities Group - South Africa
- Binh Thuan Hamico - Vietnam
- International Coal Ventures Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- White Energy Company Limited
- Cigading International Bulk Terminal - Indonesia
- LBH Netherlands Bv - Netherlands
- Kalimantan Lumbung Energi - Indonesia
- The Treasury - Australian Government
- Indo Tambangraya Megah - Indonesia
- VISA Power Limited - India
- Tata Chemicals Ltd - India
- Star Paper Mills Limited - India
- Parliament of New Zealand
- Tamil Nadu electricity Board
- Pendopo Energi Batubara - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Dalmia Cement Bharat India
- Ministry of Mines - Canada
- Indian Energy Exchange, India
- Essar Steel Hazira Ltd - India
- Bukit Makmur.PT - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Meralco Power Generation, Philippines
- Central Java Power - Indonesia
- Malabar Cements Ltd - India
- Semirara Mining Corp, Philippines
- Interocean Group of Companies - India
- Larsen & Toubro Limited - India
- Medco Energi Mining Internasional
- Aboitiz Power Corporation - Philippines
- Therma Luzon, Inc, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Manunggal Multi Energi - Indonesia
- Indika Energy - Indonesia
- Sojitz Corporation - Japan
- Wood Mackenzie - Singapore
- Kumho Petrochemical, South Korea
- Videocon Industries ltd - India
- Riau Bara Harum - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Sree Jayajothi Cements Limited - India
- Kartika Selabumi Mining - Indonesia
- The State Trading Corporation of India Ltd
- Borneo Indobara - Indonesia
- Bulk Trading Sa - Switzerland
- Bukit Asam (Persero) Tbk - Indonesia
- CIMB Investment Bank - Malaysia
- Siam City Cement PLC, Thailand
- Globalindo Alam Lestari - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Formosa Plastics Group - Taiwan
- Uttam Galva Steels Limited - India
- Krishnapatnam Port Company Ltd. - India
- Sinarmas Energy and Mining - Indonesia
- Straits Asia Resources Limited - Singapore
- PetroVietnam Power Coal Import and Supply Company
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Minerals Council of Australia
- Energy Link Ltd, New Zealand
- India Bulls Power Limited - India
- The University of Queensland
- Sakthi Sugars Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Bangladesh Power Developement Board
- Jorong Barutama Greston.PT - Indonesia
- Kideco Jaya Agung - Indonesia
- Sindya Power Generating Company Private Ltd
- Siam City Cement - Thailand
- Mintek Dendrill Indonesia
- Oldendorff Carriers - Singapore
- Vijayanagar Sugar Pvt Ltd - India
- Vedanta Resources Plc - India
- Intertek Mineral Services - Indonesia
- Chamber of Mines of South Africa
- Mercator Lines Limited - India
- Thiess Contractors Indonesia
- South Luzon Thermal Energy Corporation
- PowerSource Philippines DevCo
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Anglo American - United Kingdom
- Makarim & Taira - Indonesia
- Billiton Holdings Pty Ltd - Australia
- GN Power Mariveles Coal Plant, Philippines
- Petron Corporation, Philippines
- Metalloyd Limited - United Kingdom
- London Commodity Brokers - England
- Kohat Cement Company Ltd. - Pakistan
- Parry Sugars Refinery, India
- Independent Power Producers Association of India
- Deloitte Consulting - India
- SN Aboitiz Power Inc, Philippines
- IEA Clean Coal Centre - UK
- Gujarat Mineral Development Corp Ltd - India
- Energy Development Corp, Philippines
- Timah Investasi Mineral - Indoneisa
- Attock Cement Pakistan Limited
- Georgia Ports Authority, United States
- European Bulk Services B.V. - Netherlands
- Aditya Birla Group - India
- Commonwealth Bank - Australia
- Ambuja Cements Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- GVK Power & Infra Limited - India
- GAC Shipping (India) Pvt Ltd
- Romanian Commodities Exchange
- IHS Mccloskey Coal Group - USA
- Pipit Mutiara Jaya. PT, Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Bhoruka Overseas - Indonesia
- Coalindo Energy - Indonesia
- Trasteel International SA, Italy
- Global Coal Blending Company Limited - Australia
- Global Green Power PLC Corporation, Philippines
- Rio Tinto Coal - Australia
- Merrill Lynch Commodities Europe
- Electricity Generating Authority of Thailand
- ICICI Bank Limited - India
- Ministry of Finance - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Wilmar Investment Holdings
- Bukit Baiduri Energy - Indonesia
- Lanco Infratech Ltd - India
- Kobexindo Tractors - Indoneisa
- Karaikal Port Pvt Ltd - India
- Salva Resources Pvt Ltd - India
- Eastern Coal Council - USA
- Power Finance Corporation Ltd., India
- PNOC Exploration Corporation - Philippines
- CNBM International Corporation - China
- Singapore Mercantile Exchange
- Coastal Gujarat Power Limited - India
- Semirara Mining and Power Corporation, Philippines
- Edison Trading Spa - Italy
- Orica Australia Pty. Ltd.
- Iligan Light & Power Inc, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Madhucon Powers Ltd - India
- TeaM Sual Corporation - Philippines
- Goldman Sachs - Singapore
- Australian Commodity Traders Exchange
- Cement Manufacturers Association - India
- Posco Energy - South Korea
- Bhushan Steel Limited - India
- Eastern Energy - Thailand
- Jaiprakash Power Ventures ltd
- Price Waterhouse Coopers - Russia
- Agrawal Coal Company - India
- Alfred C Toepfer International GmbH - Germany
- Ceylon Electricity Board - Sri Lanka
- Electricity Authority, New Zealand
- Orica Mining Services - Indonesia
- Standard Chartered Bank - UAE
- Marubeni Corporation - India
- McConnell Dowell - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Neyveli Lignite Corporation Ltd, - India
- Vizag Seaport Private Limited - India
- OPG Power Generation Pvt Ltd - India
- Mercuria Energy - Indonesia
- Indonesian Coal Mining Association
- Maheswari Brothers Coal Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bhatia International Limited - India
- Holcim Trading Pte Ltd - Singapore
- Carbofer General Trading SA - India
- Maharashtra Electricity Regulatory Commission - India
- Ind-Barath Power Infra Limited - India
- Ministry of Transport, Egypt
- Toyota Tsusho Corporation, Japan
- Savvy Resources Ltd - HongKong
- Bharathi Cement Corporation - India
- Economic Council, Georgia
- Jindal Steel & Power Ltd - India
- Australian Coal Association
- SMC Global Power, Philippines
- Xindia Steels Limited - India
- Sical Logistics Limited - India
- Altura Mining Limited, Indonesia
- Thai Mozambique Logistica
- Central Electricity Authority - India
- SMG Consultants - Indonesia
- Miang Besar Coal Terminal - Indonesia
- San Jose City I Power Corp, Philippines
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