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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, 03 July 11
INDONESIAN GOVERNMENT HAS CLEARED 1509 COAL IUP'S AS CLEAR AND CLEAN
COALspot.com - The Directorate general of mineral & coal of Indonesia has cleared around 1,509 IUP holders (coal mining companies) as "clea ...
Sunday, 03 July 11
MONSOON IN INDIA PUSHED FREIGHTS UP FROM INDONESIA TO WC INDIA - VISTAAR
COALspot.com - The BDI continued to hold closing just 2 points below last week at 1,422 points which was supported by Cape index which was up by 71 ...
Friday, 01 July 11
BEN LINE OPENS A NEW OFFICE IN BERAU
COALspot.com - Ben Line Agencies has announced that it has opened a new office in the busy coal loading port of Berau in East Kalimantan increasing ...
Friday, 01 July 11
CAPESIZE RATES TO REMAIN DEPRESSED IN COMING MONTHS SAYS SHIPPING ORGANIZATION - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
In a recent report, BIMCO reassessed that Capesize freight rates will remain in depressed territory in the coming months. Capesize Time Charter Aver ...
Thursday, 30 June 11
DRY BULK MARKET SHOWS SIGNS OF FURTHER WEAKENING - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market seems to be unable to shake off the additional supply of vessels, an oversupply issue of grave concern that would have occured e ...
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- Bhatia International Limited - India
- Rashtriya Ispat Nigam Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Samtan Co., Ltd - South Korea
- Maheswari Brothers Coal Limited - India
- Indian Energy Exchange, India
- Bukit Asam (Persero) Tbk - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Mercator Lines Limited - India
- San Jose City I Power Corp, Philippines
- Madhucon Powers Ltd - India
- Vedanta Resources Plc - India
- SMG Consultants - Indonesia
- Ind-Barath Power Infra Limited - India
- Coastal Gujarat Power Limited - India
- Australian Commodity Traders Exchange
- Grasim Industreis Ltd - India
- Parliament of New Zealand
- Central Java Power - Indonesia
- Bukit Baiduri Energy - Indonesia
- Gujarat Sidhee Cement - India
- Uttam Galva Steels Limited - India
- Globalindo Alam Lestari - Indonesia
- Simpson Spence & Young - Indonesia
- Bharathi Cement Corporation - India
- Semirara Mining and Power Corporation, Philippines
- Interocean Group of Companies - India
- Thai Mozambique Logistica
- Anglo American - United Kingdom
- Bhushan Steel Limited - India
- MS Steel International - UAE
- Manunggal Multi Energi - Indonesia
- IHS Mccloskey Coal Group - USA
- Chettinad Cement Corporation Ltd - India
- PTC India Limited - India
- LBH Netherlands Bv - Netherlands
- Dalmia Cement Bharat India
- GVK Power & Infra Limited - India
- Eastern Energy - Thailand
- Siam City Cement PLC, Thailand
- Tamil Nadu electricity Board
- Directorate General of MIneral and Coal - Indonesia
- Star Paper Mills Limited - India
- Bayan Resources Tbk. - Indonesia
- Binh Thuan Hamico - Vietnam
- Independent Power Producers Association of India
- GN Power Mariveles Coal Plant, Philippines
- PetroVietnam Power Coal Import and Supply Company
- OPG Power Generation Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Iligan Light & Power Inc, Philippines
- Carbofer General Trading SA - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sree Jayajothi Cements Limited - India
- International Coal Ventures Pvt Ltd - India
- Ministry of Finance - Indonesia
- Xindia Steels Limited - India
- Commonwealth Bank - Australia
- Petron Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- Bangladesh Power Developement Board
- Billiton Holdings Pty Ltd - Australia
- Jaiprakash Power Ventures ltd
- Larsen & Toubro Limited - India
- Krishnapatnam Port Company Ltd. - India
- Bulk Trading Sa - Switzerland
- Kaltim Prima Coal - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Banpu Public Company Limited - Thailand
- Orica Australia Pty. Ltd.
- CIMB Investment Bank - Malaysia
- Altura Mining Limited, Indonesia
- Metalloyd Limited - United Kingdom
- Central Electricity Authority - India
- Salva Resources Pvt Ltd - India
- Indika Energy - Indonesia
- Coal and Oil Company - UAE
- Global Business Power Corporation, Philippines
- Renaissance Capital - South Africa
- Standard Chartered Bank - UAE
- Therma Luzon, Inc, Philippines
- Riau Bara Harum - Indonesia
- PNOC Exploration Corporation - Philippines
- Karaikal Port Pvt Ltd - India
- Wood Mackenzie - Singapore
- Mjunction Services Limited - India
- Indo Tambangraya Megah - Indonesia
- Port Waratah Coal Services - Australia
- Minerals Council of Australia
- GAC Shipping (India) Pvt Ltd
- Mercuria Energy - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Kohat Cement Company Ltd. - Pakistan
- Antam Resourcindo - Indonesia
- CNBM International Corporation - China
- Malabar Cements Ltd - India
- Ministry of Mines - Canada
- ICICI Bank Limited - India
- Eastern Coal Council - USA
- The State Trading Corporation of India Ltd
- Electricity Generating Authority of Thailand
- Indogreen Group - Indonesia
- Economic Council, Georgia
- Kideco Jaya Agung - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Georgia Ports Authority, United States
- Ceylon Electricity Board - Sri Lanka
- Power Finance Corporation Ltd., India
- Siam City Cement - Thailand
- Makarim & Taira - Indonesia
- Miang Besar Coal Terminal - Indonesia
- The Treasury - Australian Government
- Semirara Mining Corp, Philippines
- Timah Investasi Mineral - Indoneisa
- Sical Logistics Limited - India
- Energy Development Corp, Philippines
- Sarangani Energy Corporation, Philippines
- New Zealand Coal & Carbon
- Latin American Coal - Colombia
- VISA Power Limited - India
- Kepco SPC Power Corporation, Philippines
- Coalindo Energy - Indonesia
- Goldman Sachs - Singapore
- Edison Trading Spa - Italy
- Thiess Contractors Indonesia
- Australian Coal Association
- SN Aboitiz Power Inc, Philippines
- Baramulti Group, Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Oldendorff Carriers - Singapore
- Alfred C Toepfer International GmbH - Germany
- Directorate Of Revenue Intelligence - India
- Kalimantan Lumbung Energi - Indonesia
- SMC Global Power, Philippines
- Bhoruka Overseas - Indonesia
- GMR Energy Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Romanian Commodities Exchange
- Gujarat Mineral Development Corp Ltd - India
- Kapuas Tunggal Persada - Indonesia
- London Commodity Brokers - England
- Indonesian Coal Mining Association
- Sakthi Sugars Limited - India
- Cement Manufacturers Association - India
- Jorong Barutama Greston.PT - Indonesia
- Aditya Birla Group - India
- Wilmar Investment Holdings
- Tata Chemicals Ltd - India
- Formosa Plastics Group - Taiwan
- Trasteel International SA, Italy
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Borneo Indobara - Indonesia
- Parry Sugars Refinery, India
- Orica Mining Services - Indonesia
- Essar Steel Hazira Ltd - India
- Lanco Infratech Ltd - India
- Savvy Resources Ltd - HongKong
- Kobexindo Tractors - Indoneisa
- Kartika Selabumi Mining - Indonesia
- Electricity Authority, New Zealand
- Bukit Makmur.PT - Indonesia
- European Bulk Services B.V. - Netherlands
- Cigading International Bulk Terminal - Indonesia
- Meenaskhi Energy Private Limited - India
- The University of Queensland
- Aboitiz Power Corporation - Philippines
- Sinarmas Energy and Mining - Indonesia
- South Luzon Thermal Energy Corporation
- Marubeni Corporation - India
- Meralco Power Generation, Philippines
- Africa Commodities Group - South Africa
- Mintek Dendrill Indonesia
- Singapore Mercantile Exchange
- Pendopo Energi Batubara - Indonesia
- Rio Tinto Coal - Australia
- Energy Link Ltd, New Zealand
- Attock Cement Pakistan Limited
- Petrochimia International Co. Ltd.- Taiwan
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Barasentosa Lestari - Indonesia
- Indian Oil Corporation Limited
- Toyota Tsusho Corporation, Japan
- India Bulls Power Limited - India
- Straits Asia Resources Limited - Singapore
- Posco Energy - South Korea
- Neyveli Lignite Corporation Ltd, - India
- Kumho Petrochemical, South Korea
- TNB Fuel Sdn Bhd - Malaysia
- Agrawal Coal Company - India
- Price Waterhouse Coopers - Russia
- White Energy Company Limited
- TeaM Sual Corporation - Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Vizag Seaport Private Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- IEA Clean Coal Centre - UK
- McConnell Dowell - Australia
- Sojitz Corporation - Japan
- Intertek Mineral Services - Indonesia
- Jindal Steel & Power Ltd - India
- Medco Energi Mining Internasional
- ASAPP Information Group - India
- Global Coal Blending Company Limited - Australia
- Videocon Industries ltd - India
- Gujarat Electricity Regulatory Commission - India
- Maharashtra Electricity Regulatory Commission - India
- Merrill Lynch Commodities Europe
- AsiaOL BioFuels Corp., Philippines
- Planning Commission, India
- Chamber of Mines of South Africa
- PowerSource Philippines DevCo
- Karbindo Abesyapradhi - Indoneisa
- Heidelberg Cement - Germany
- Global Green Power PLC Corporation, Philippines
- Ministry of Transport, Egypt
- Ambuja Cements Ltd - India
- Deloitte Consulting - India
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