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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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Sunday, 10 July 11
DRY BULK MARKET SHOWING SIGNS OF IMPROVEMENT - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Stronger Capesize demand has helped propel the dry bulk market forward this week, with the Baltic Dry Index (BDI) ending yesterday’s session u ...
Sunday, 10 July 11
INDONESIAN BAYAN RESOURCES TO SUPPLY 100 MILLION TONS OF COAL TO INDIAN UNIVERSAL SUCCESS ENTERPRISES LIMITED
Coal miner PT Bayan Resources Tbk (BYAN), that is owned by Dato' Low Tuck Kwong, has entered into a conditional sales and purchase agreement to sup ...
Thursday, 07 July 11
BELOW 5100 COAL WILL BE BANNED FOR EXPORT BY 12 JANUARY 2014
COALspot.com - Indonesian government is in the process of drafting an amendment for government regulation 23/ 2010.
GR 23/2010 has issued to sup ...
Wednesday, 06 July 11
ATLAS RESOURCES TO OFFLOAD 17 PERCENT IPO - INSIDER STORIES
Coking and thermal coal miner PT Atlas Energi Resources aims to offload 17percent new shares of its enlarged capital after Eid-Fitri holidays, as qu ...
Tuesday, 05 July 11
UNTR REVISES UP SALES TO 7,500 UNITS - INSIDER STORIES
PT United Tractors Tbk (UNTR), distributor of Komatsu heavy equipment and parent of PT Pamapersada Nusantara, has revised up its equipment sales tar ...
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- Tamil Nadu electricity Board
- Timah Investasi Mineral - Indoneisa
- Ministry of Mines - Canada
- Lanco Infratech Ltd - India
- Sarangani Energy Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indian Energy Exchange, India
- Indika Energy - Indonesia
- Kumho Petrochemical, South Korea
- Kalimantan Lumbung Energi - Indonesia
- PowerSource Philippines DevCo
- ASAPP Information Group - India
- Meenaskhi Energy Private Limited - India
- Port Waratah Coal Services - Australia
- Sree Jayajothi Cements Limited - India
- Jaiprakash Power Ventures ltd
- Kideco Jaya Agung - Indonesia
- Borneo Indobara - Indonesia
- Global Green Power PLC Corporation, Philippines
- Oldendorff Carriers - Singapore
- Minerals Council of Australia
- Central Electricity Authority - India
- Semirara Mining Corp, Philippines
- Sinarmas Energy and Mining - Indonesia
- Carbofer General Trading SA - India
- Power Finance Corporation Ltd., India
- PetroVietnam Power Coal Import and Supply Company
- Madhucon Powers Ltd - India
- Chettinad Cement Corporation Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Kepco SPC Power Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- Straits Asia Resources Limited - Singapore
- Ministry of Finance - Indonesia
- Larsen & Toubro Limited - India
- Riau Bara Harum - Indonesia
- Star Paper Mills Limited - India
- Africa Commodities Group - South Africa
- Coal and Oil Company - UAE
- Medco Energi Mining Internasional
- PNOC Exploration Corporation - Philippines
- Romanian Commodities Exchange
- Jindal Steel & Power Ltd - India
- Vizag Seaport Private Limited - India
- Formosa Plastics Group - Taiwan
- Renaissance Capital - South Africa
- Sical Logistics Limited - India
- Marubeni Corporation - India
- Rio Tinto Coal - Australia
- Indogreen Group - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indonesian Coal Mining Association
- Orica Australia Pty. Ltd.
- Edison Trading Spa - Italy
- Attock Cement Pakistan Limited
- Vijayanagar Sugar Pvt Ltd - India
- Economic Council, Georgia
- Independent Power Producers Association of India
- South Luzon Thermal Energy Corporation
- Indian Oil Corporation Limited
- SN Aboitiz Power Inc, Philippines
- Petron Corporation, Philippines
- Uttam Galva Steels Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Dalmia Cement Bharat India
- GVK Power & Infra Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Singapore Mercantile Exchange
- Tata Chemicals Ltd - India
- Eastern Energy - Thailand
- Aditya Birla Group - India
- Bukit Baiduri Energy - Indonesia
- Banpu Public Company Limited - Thailand
- Sindya Power Generating Company Private Ltd
- The Treasury - Australian Government
- Kohat Cement Company Ltd. - Pakistan
- Pendopo Energi Batubara - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Antam Resourcindo - Indonesia
- Therma Luzon, Inc, Philippines
- CNBM International Corporation - China
- Karbindo Abesyapradhi - Indoneisa
- Baramulti Group, Indonesia
- Directorate Of Revenue Intelligence - India
- Ceylon Electricity Board - Sri Lanka
- Binh Thuan Hamico - Vietnam
- Bayan Resources Tbk. - Indonesia
- Siam City Cement - Thailand
- Coastal Gujarat Power Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- McConnell Dowell - Australia
- Coalindo Energy - Indonesia
- Ind-Barath Power Infra Limited - India
- Bulk Trading Sa - Switzerland
- Bhushan Steel Limited - India
- Xindia Steels Limited - India
- Mercator Lines Limited - India
- European Bulk Services B.V. - Netherlands
- Bhatia International Limited - India
- Thai Mozambique Logistica
- Rashtriya Ispat Nigam Limited - India
- CIMB Investment Bank - Malaysia
- GMR Energy Limited - India
- Altura Mining Limited, Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Bharathi Cement Corporation - India
- Asmin Koalindo Tuhup - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indo Tambangraya Megah - Indonesia
- Thiess Contractors Indonesia
- The State Trading Corporation of India Ltd
- Samtan Co., Ltd - South Korea
- Sakthi Sugars Limited - India
- Malabar Cements Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Manunggal Multi Energi - Indonesia
- Interocean Group of Companies - India
- Kartika Selabumi Mining - Indonesia
- San Jose City I Power Corp, Philippines
- Orica Mining Services - Indonesia
- Ministry of Transport, Egypt
- Aboitiz Power Corporation - Philippines
- Cigading International Bulk Terminal - Indonesia
- SMC Global Power, Philippines
- Electricity Generating Authority of Thailand
- Kobexindo Tractors - Indoneisa
- Bahari Cakrawala Sebuku - Indonesia
- Goldman Sachs - Singapore
- Holcim Trading Pte Ltd - Singapore
- Global Coal Blending Company Limited - Australia
- Parliament of New Zealand
- Mercuria Energy - Indonesia
- Globalindo Alam Lestari - Indonesia
- International Coal Ventures Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Kaltim Prima Coal - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Wilmar Investment Holdings
- Salva Resources Pvt Ltd - India
- SMG Consultants - Indonesia
- Mjunction Services Limited - India
- GN Power Mariveles Coal Plant, Philippines
- ICICI Bank Limited - India
- TeaM Sual Corporation - Philippines
- Intertek Mineral Services - Indonesia
- Maheswari Brothers Coal Limited - India
- OPG Power Generation Pvt Ltd - India
- Heidelberg Cement - Germany
- Krishnapatnam Port Company Ltd. - India
- PTC India Limited - India
- Iligan Light & Power Inc, Philippines
- Videocon Industries ltd - India
- Anglo American - United Kingdom
- Chamber of Mines of South Africa
- Global Business Power Corporation, Philippines
- Gujarat Sidhee Cement - India
- Posco Energy - South Korea
- Bukit Asam (Persero) Tbk - Indonesia
- Savvy Resources Ltd - HongKong
- Bhoruka Overseas - Indonesia
- Electricity Authority, New Zealand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Latin American Coal - Colombia
- Karaikal Port Pvt Ltd - India
- Energy Link Ltd, New Zealand
- Deloitte Consulting - India
- India Bulls Power Limited - India
- Toyota Tsusho Corporation, Japan
- MS Steel International - UAE
- IHS Mccloskey Coal Group - USA
- Price Waterhouse Coopers - Russia
- Sojitz Corporation - Japan
- LBH Netherlands Bv - Netherlands
- Eastern Coal Council - USA
- Alfred C Toepfer International GmbH - Germany
- Semirara Mining and Power Corporation, Philippines
- Trasteel International SA, Italy
- Ambuja Cements Ltd - India
- Siam City Cement PLC, Thailand
- IEA Clean Coal Centre - UK
- Energy Development Corp, Philippines
- Gujarat Electricity Regulatory Commission - India
- Billiton Holdings Pty Ltd - Australia
- Merrill Lynch Commodities Europe
- Georgia Ports Authority, United States
- Metalloyd Limited - United Kingdom
- GAC Shipping (India) Pvt Ltd
- Grasim Industreis Ltd - India
- Simpson Spence & Young - Indonesia
- Australian Coal Association
- Agrawal Coal Company - India
- Wood Mackenzie - Singapore
- VISA Power Limited - India
- Barasentosa Lestari - Indonesia
- Australian Commodity Traders Exchange
- Mintek Dendrill Indonesia
- Cement Manufacturers Association - India
- Essar Steel Hazira Ltd - India
- New Zealand Coal & Carbon
- Commonwealth Bank - Australia
- Standard Chartered Bank - UAE
- Central Java Power - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Vedanta Resources Plc - India
- Makarim & Taira - Indonesia
- The University of Queensland
- Bangladesh Power Developement Board
- White Energy Company Limited
- Offshore Bulk Terminal Pte Ltd, Singapore
- Meralco Power Generation, Philippines
- London Commodity Brokers - England
- Planning Commission, India
- Parry Sugars Refinery, India
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