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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, 29 June 11
ANOTHER STRONG PERFORMANCE BY CAPESIZE - BRS
Another strong performance by the Capesize market this week, bringing the BCI up 8% to 1,974 points. However the Panamax market was penalised, losin ...
Monday, 27 June 11
THE IRON ORE IMPORTS BY CHINA SEEMED TO SLOW DOWN - VISTAAR
COALspot.com - The BDI was holding as previous week and was just up by 1 point and closed at 1424 points end of last week. The biggest gain was ...
Friday, 24 June 11
THE INDONESIAN GOVERNMENT WILL NOT EXTEND ALL EXPIRED MINING CONTRACTS - JAKARTA UPDATES
The Indonesian Government have decided not to extend all mining concessions under the scheme called Contract of Work and instead will take over the ...
Friday, 24 June 11
BERAU EYEING 70 PERCENT GROWTH IN EBITDA
Indonesia's coal producer PT Berau Coal Energy Tbk (BRAU) is eyeing a 60 -70 percent growth in EBITDA to US$ 560 million-US$595 million this year. ...
Thursday, 23 June 11
DRY BULK MARKET KEEPS EXHIBITING SIGNS OF WEAKNESS THIS WEEK - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market seems to be unable to climb at new highs this week, showing signs of weakness, across most ship types. Yesterday, the Baltic Dry ...
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- Economic Council, Georgia
- Parliament of New Zealand
- Posco Energy - South Korea
- Electricity Authority, New Zealand
- Offshore Bulk Terminal Pte Ltd, Singapore
- San Jose City I Power Corp, Philippines
- Iligan Light & Power Inc, Philippines
- LBH Netherlands Bv - Netherlands
- Meenaskhi Energy Private Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indian Oil Corporation Limited
- Electricity Generating Authority of Thailand
- Riau Bara Harum - Indonesia
- CIMB Investment Bank - Malaysia
- Wilmar Investment Holdings
- VISA Power Limited - India
- Binh Thuan Hamico - Vietnam
- Chamber of Mines of South Africa
- Malabar Cements Ltd - India
- TeaM Sual Corporation - Philippines
- Alfred C Toepfer International GmbH - Germany
- Central Java Power - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Star Paper Mills Limited - India
- Minerals Council of Australia
- GAC Shipping (India) Pvt Ltd
- Kobexindo Tractors - Indoneisa
- Vedanta Resources Plc - India
- Indonesian Coal Mining Association
- Aditya Birla Group - India
- Manunggal Multi Energi - Indonesia
- Power Finance Corporation Ltd., India
- Orica Mining Services - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Maharashtra Electricity Regulatory Commission - India
- Eastern Coal Council - USA
- Thiess Contractors Indonesia
- PowerSource Philippines DevCo
- Australian Coal Association
- Rio Tinto Coal - Australia
- Georgia Ports Authority, United States
- Sojitz Corporation - Japan
- Bayan Resources Tbk. - Indonesia
- Karaikal Port Pvt Ltd - India
- Bangladesh Power Developement Board
- Jaiprakash Power Ventures ltd
- Aboitiz Power Corporation - Philippines
- European Bulk Services B.V. - Netherlands
- The Treasury - Australian Government
- Ministry of Finance - Indonesia
- Ministry of Transport, Egypt
- Banpu Public Company Limited - Thailand
- Intertek Mineral Services - Indonesia
- Therma Luzon, Inc, Philippines
- MS Steel International - UAE
- TNB Fuel Sdn Bhd - Malaysia
- New Zealand Coal & Carbon
- Sree Jayajothi Cements Limited - India
- Salva Resources Pvt Ltd - India
- Coal and Oil Company - UAE
- Romanian Commodities Exchange
- Jorong Barutama Greston.PT - Indonesia
- Africa Commodities Group - South Africa
- Bukit Baiduri Energy - Indonesia
- Ind-Barath Power Infra Limited - India
- The State Trading Corporation of India Ltd
- White Energy Company Limited
- OPG Power Generation Pvt Ltd - India
- Borneo Indobara - Indonesia
- Mjunction Services Limited - India
- GVK Power & Infra Limited - India
- Indian Energy Exchange, India
- Energy Link Ltd, New Zealand
- Holcim Trading Pte Ltd - Singapore
- Parry Sugars Refinery, India
- GN Power Mariveles Coal Plant, Philippines
- Coastal Gujarat Power Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- Gujarat Sidhee Cement - India
- Carbofer General Trading SA - India
- Bahari Cakrawala Sebuku - Indonesia
- Directorate Of Revenue Intelligence - India
- Edison Trading Spa - Italy
- Savvy Resources Ltd - HongKong
- Sarangani Energy Corporation, Philippines
- Altura Mining Limited, Indonesia
- Merrill Lynch Commodities Europe
- Anglo American - United Kingdom
- Directorate General of MIneral and Coal - Indonesia
- Indogreen Group - Indonesia
- Singapore Mercantile Exchange
- Madhucon Powers Ltd - India
- Petron Corporation, Philippines
- GMR Energy Limited - India
- Samtan Co., Ltd - South Korea
- Bulk Trading Sa - Switzerland
- PetroVietnam Power Coal Import and Supply Company
- Vijayanagar Sugar Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- Sinarmas Energy and Mining - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Semirara Mining Corp, Philippines
- Metalloyd Limited - United Kingdom
- AsiaOL BioFuels Corp., Philippines
- Siam City Cement PLC, Thailand
- Siam City Cement - Thailand
- Deloitte Consulting - India
- Makarim & Taira - Indonesia
- Krishnapatnam Port Company Ltd. - India
- International Coal Ventures Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- Sakthi Sugars Limited - India
- India Bulls Power Limited - India
- Oldendorff Carriers - Singapore
- Grasim Industreis Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Larsen & Toubro Limited - India
- Leighton Contractors Pty Ltd - Australia
- Bharathi Cement Corporation - India
- Kalimantan Lumbung Energi - Indonesia
- Xindia Steels Limited - India
- Coalindo Energy - Indonesia
- Lanco Infratech Ltd - India
- PNOC Exploration Corporation - Philippines
- Eastern Energy - Thailand
- Interocean Group of Companies - India
- Uttam Galva Steels Limited - India
- Indo Tambangraya Megah - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Trasteel International SA, Italy
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kartika Selabumi Mining - Indonesia
- Kumho Petrochemical, South Korea
- Kideco Jaya Agung - Indonesia
- Cement Manufacturers Association - India
- Semirara Mining and Power Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Baramulti Group, Indonesia
- London Commodity Brokers - England
- Bukit Asam (Persero) Tbk - Indonesia
- Mintek Dendrill Indonesia
- Pendopo Energi Batubara - Indonesia
- Vizag Seaport Private Limited - India
- Meralco Power Generation, Philippines
- Planning Commission, India
- PTC India Limited - India
- Chettinad Cement Corporation Ltd - India
- Tamil Nadu electricity Board
- Bhatia International Limited - India
- SN Aboitiz Power Inc, Philippines
- Port Waratah Coal Services - Australia
- Heidelberg Cement - Germany
- Renaissance Capital - South Africa
- Mercuria Energy - Indonesia
- Mercator Lines Limited - India
- Goldman Sachs - Singapore
- Attock Cement Pakistan Limited
- Rashtriya Ispat Nigam Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ministry of Mines - Canada
- Wood Mackenzie - Singapore
- Dalmia Cement Bharat India
- Price Waterhouse Coopers - Russia
- Kapuas Tunggal Persada - Indonesia
- Bhoruka Overseas - Indonesia
- Global Business Power Corporation, Philippines
- SMC Global Power, Philippines
- Bukit Makmur.PT - Indonesia
- Energy Development Corp, Philippines
- Straits Asia Resources Limited - Singapore
- Neyveli Lignite Corporation Ltd, - India
- Marubeni Corporation - India
- South Luzon Thermal Energy Corporation
- Bhushan Steel Limited - India
- Antam Resourcindo - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Cigading International Bulk Terminal - Indonesia
- Kepco SPC Power Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- ASAPP Information Group - India
- Orica Australia Pty. Ltd.
- Independent Power Producers Association of India
- Maheswari Brothers Coal Limited - India
- Tata Chemicals Ltd - India
- ICICI Bank Limited - India
- Gujarat Electricity Regulatory Commission - India
- The University of Queensland
- Thai Mozambique Logistica
- IEA Clean Coal Centre - UK
- Global Green Power PLC Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- Videocon Industries ltd - India
- Miang Besar Coal Terminal - Indonesia
- Sical Logistics Limited - India
- Formosa Plastics Group - Taiwan
- Central Electricity Authority - India
- Australian Commodity Traders Exchange
- McConnell Dowell - Australia
- Ambuja Cements Ltd - India
- Standard Chartered Bank - UAE
- Simpson Spence & Young - Indonesia
- Latin American Coal - Colombia
- Medco Energi Mining Internasional
- Timah Investasi Mineral - Indoneisa
- Agrawal Coal Company - India
- CNBM International Corporation - China
- Indika Energy - Indonesia
- Commonwealth Bank - Australia
- IHS Mccloskey Coal Group - USA
- Pipit Mutiara Jaya. PT, Indonesia
- Jindal Steel & Power Ltd - India
- Barasentosa Lestari - Indonesia
- Sindya Power Generating Company Private Ltd
- Essar Steel Hazira Ltd - India
- SMG Consultants - Indonesia
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