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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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Friday, 05 January 24
BANGLADESH’S 2023 COAL-FIRED POWER OUTPUT TRIPLED, EASING SHORTAGES - REUTERS
Bangladesh nearly tripled its coal-fired power output in 2023, a Reuters analysis of government data showed, helping it tide over the worst power s ...
Tuesday, 02 January 24
COAL TRADE CONTINUES TO HEAD EAST - BALTIC EXCHANGE
The global coal trade, once concentrated in the Pacific and Atlantic basins, is undergoing a significant transformation, as highlighted in the Inte ...
Tuesday, 02 January 24
COAL CARGOES: AVOIDING EXPLOSION AND SELF-HEATING - GARD
KNOWLEDGE TO ELEVATE
Despite its contribution to greenhouse gas emissions, global coal consumption climbed to an all-time high in 2022 and is ...
Tuesday, 02 January 24
SINOPEC FORECASTS CHINA’S COAL CONSUMPTION TO PEAK AROUND 2025 - REUTERS
China Petrochemical Corp, or Sinopec, expects coal consumption to peak around 2025 at 4.37 billion metric tons, the state energy group said in an o ...
Thursday, 07 December 23
CHINA TO SET UP COAL PRODUCTION RESERVE TO STABILISE PRICES - REUTERS
China will establish a back-up coal production system by 2027 to stabilise prices and secure coal supply, the state planner said on Wednesday, even ...
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- Kumho Petrochemical, South Korea
- Aditya Birla Group - India
- Indian Oil Corporation Limited
- South Luzon Thermal Energy Corporation
- Thiess Contractors Indonesia
- Meralco Power Generation, Philippines
- Vedanta Resources Plc - India
- Singapore Mercantile Exchange
- Sojitz Corporation - Japan
- International Coal Ventures Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- Posco Energy - South Korea
- TeaM Sual Corporation - Philippines
- Energy Development Corp, Philippines
- Georgia Ports Authority, United States
- Global Green Power PLC Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Heidelberg Cement - Germany
- Salva Resources Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Samtan Co., Ltd - South Korea
- Cigading International Bulk Terminal - Indonesia
- Petron Corporation, Philippines
- Trasteel International SA, Italy
- GN Power Mariveles Coal Plant, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Indian Energy Exchange, India
- Orica Australia Pty. Ltd.
- Power Finance Corporation Ltd., India
- Miang Besar Coal Terminal - Indonesia
- Bangladesh Power Developement Board
- Videocon Industries ltd - India
- Carbofer General Trading SA - India
- Africa Commodities Group - South Africa
- Manunggal Multi Energi - Indonesia
- Ministry of Mines - Canada
- Kideco Jaya Agung - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Deloitte Consulting - India
- Renaissance Capital - South Africa
- Bhoruka Overseas - Indonesia
- Indogreen Group - Indonesia
- Eastern Energy - Thailand
- Parry Sugars Refinery, India
- Holcim Trading Pte Ltd - Singapore
- Sree Jayajothi Cements Limited - India
- Anglo American - United Kingdom
- GAC Shipping (India) Pvt Ltd
- The State Trading Corporation of India Ltd
- Goldman Sachs - Singapore
- Kobexindo Tractors - Indoneisa
- MS Steel International - UAE
- Makarim & Taira - Indonesia
- Eastern Coal Council - USA
- SMG Consultants - Indonesia
- IEA Clean Coal Centre - UK
- Altura Mining Limited, Indonesia
- Sarangani Energy Corporation, Philippines
- CNBM International Corporation - China
- Metalloyd Limited - United Kingdom
- Edison Trading Spa - Italy
- Kartika Selabumi Mining - Indonesia
- PTC India Limited - India
- Jaiprakash Power Ventures ltd
- Maheswari Brothers Coal Limited - India
- Chamber of Mines of South Africa
- Interocean Group of Companies - India
- Central Electricity Authority - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Energy Link Ltd, New Zealand
- Asmin Koalindo Tuhup - Indonesia
- Merrill Lynch Commodities Europe
- Timah Investasi Mineral - Indoneisa
- Directorate General of MIneral and Coal - Indonesia
- Malabar Cements Ltd - India
- Standard Chartered Bank - UAE
- Tamil Nadu electricity Board
- Grasim Industreis Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Formosa Plastics Group - Taiwan
- Minerals Council of Australia
- India Bulls Power Limited - India
- Larsen & Toubro Limited - India
- Port Waratah Coal Services - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Simpson Spence & Young - Indonesia
- Cement Manufacturers Association - India
- Semirara Mining Corp, Philippines
- Mercator Lines Limited - India
- Ambuja Cements Ltd - India
- PowerSource Philippines DevCo
- Globalindo Alam Lestari - Indonesia
- Xindia Steels Limited - India
- Thai Mozambique Logistica
- Semirara Mining and Power Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- Gujarat Sidhee Cement - India
- Kalimantan Lumbung Energi - Indonesia
- Antam Resourcindo - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Bhatia International Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Essar Steel Hazira Ltd - India
- Coalindo Energy - Indonesia
- White Energy Company Limited
- Bahari Cakrawala Sebuku - Indonesia
- Price Waterhouse Coopers - Russia
- AsiaOL BioFuels Corp., Philippines
- Central Java Power - Indonesia
- Bukit Baiduri Energy - Indonesia
- Ministry of Transport, Egypt
- PNOC Exploration Corporation - Philippines
- Bhushan Steel Limited - India
- Mercuria Energy - Indonesia
- San Jose City I Power Corp, Philippines
- Therma Luzon, Inc, Philippines
- Toyota Tsusho Corporation, Japan
- Rashtriya Ispat Nigam Limited - India
- Medco Energi Mining Internasional
- Pipit Mutiara Jaya. PT, Indonesia
- Wood Mackenzie - Singapore
- Indonesian Coal Mining Association
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Alfred C Toepfer International GmbH - Germany
- Baramulti Group, Indonesia
- SN Aboitiz Power Inc, Philippines
- Oldendorff Carriers - Singapore
- Siam City Cement - Thailand
- Bukit Makmur.PT - Indonesia
- Ceylon Electricity Board - Sri Lanka
- ICICI Bank Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Petrochimia International Co. Ltd.- Taiwan
- Indika Energy - Indonesia
- London Commodity Brokers - England
- LBH Netherlands Bv - Netherlands
- Meenaskhi Energy Private Limited - India
- Sical Logistics Limited - India
- VISA Power Limited - India
- Romanian Commodities Exchange
- Electricity Authority, New Zealand
- Madhucon Powers Ltd - India
- GVK Power & Infra Limited - India
- Uttam Galva Steels Limited - India
- Ministry of Finance - Indonesia
- New Zealand Coal & Carbon
- Bayan Resources Tbk. - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Planning Commission, India
- Economic Council, Georgia
- Kepco SPC Power Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Wilmar Investment Holdings
- Commonwealth Bank - Australia
- Dalmia Cement Bharat India
- Electricity Generating Authority of Thailand
- Neyveli Lignite Corporation Ltd, - India
- Kaltim Prima Coal - Indonesia
- Karaikal Port Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- Siam City Cement PLC, Thailand
- Pendopo Energi Batubara - Indonesia
- Coastal Gujarat Power Limited - India
- Bharathi Cement Corporation - India
- Straits Asia Resources Limited - Singapore
- Billiton Holdings Pty Ltd - Australia
- Global Business Power Corporation, Philippines
- Vizag Seaport Private Limited - India
- Borneo Indobara - Indonesia
- Star Paper Mills Limited - India
- OPG Power Generation Pvt Ltd - India
- Agrawal Coal Company - India
- Mintek Dendrill Indonesia
- Australian Coal Association
- European Bulk Services B.V. - Netherlands
- Tata Chemicals Ltd - India
- Aboitiz Power Corporation - Philippines
- Lanco Infratech Ltd - India
- Orica Mining Services - Indonesia
- The University of Queensland
- Sindya Power Generating Company Private Ltd
- Intertek Mineral Services - Indonesia
- Coal and Oil Company - UAE
- Barasentosa Lestari - Indonesia
- GMR Energy Limited - India
- Chettinad Cement Corporation Ltd - India
- Banpu Public Company Limited - Thailand
- Independent Power Producers Association of India
- Ind-Barath Power Infra Limited - India
- Krishnapatnam Port Company Ltd. - India
- Indo Tambangraya Megah - Indonesia
- Mjunction Services Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Sinarmas Energy and Mining - Indonesia
- Australian Commodity Traders Exchange
- Jindal Steel & Power Ltd - India
- McConnell Dowell - Australia
- Riau Bara Harum - Indonesia
- The Treasury - Australian Government
- CIMB Investment Bank - Malaysia
- Leighton Contractors Pty Ltd - Australia
- Rio Tinto Coal - Australia
- Savvy Resources Ltd - HongKong
- SMC Global Power, Philippines
- Marubeni Corporation - India
- Parliament of New Zealand
- Bulk Trading Sa - Switzerland
- Sakthi Sugars Limited - India
- ASAPP Information Group - India
- Gujarat Electricity Regulatory Commission - India
- Attock Cement Pakistan Limited
- Iligan Light & Power Inc, Philippines
- Latin American Coal - Colombia
- IHS Mccloskey Coal Group - USA
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