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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, 01 December 23
COAL MINERS GROUP EXPECTS INDONESIA’S 2023 COAL OUTPUT TO SURPASS TARGET - REUTERS
The Indonesian Coal Mining Association (ICMA) expects the country’s 2023 coal output to surpass the official target of 695 million metric ton ...
Friday, 24 November 23
COAL IMPORTS TO INDIA IN OCTOBER 2023 REACHED HIGHEST LEVELS IN NEARLY A YEAR AND A HALF - VESSELSVALUE, VESON NAUTICAL
In October, coal imports to India reached 13.8 mt in October 2023, according to Oceanbolt, a Veson Nautical solution, the highest level since May 2 ...
Friday, 24 November 23
COAL SHIPMENTS TO ADVANCED ECONOMIES DOWN 17% SO FAR IN 2023 - BIMCO
In the first ten months of 2023, coal shipments to advanced economies fell by 17% y/y, as demand for electricity declined and the share of electric ...
Friday, 24 November 23
INTELLIGENT COAL MINES CONTRIBUTE TO IMPROVING SAFETY STANDARDS - CHINA DAILY
Mechanization, automation and intelligent upgrades have contributed to improved safety in coal mines, though the level of development of intelligen ...
Friday, 24 November 23
WHY AUSTRALIA'S COAL MINES ARE GETTING BIGGER - IEEFA
Australia’s largest coal mines are getting larger. Mines in New South Wales (NSW) are ramping up production following the state’s recov ...
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- Gujarat Sidhee Cement - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Coalindo Energy - Indonesia
- Cigading International Bulk Terminal - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Siam City Cement PLC, Thailand
- Eastern Coal Council - USA
- Iligan Light & Power Inc, Philippines
- Jindal Steel & Power Ltd - India
- Anglo American - United Kingdom
- Romanian Commodities Exchange
- Energy Link Ltd, New Zealand
- The Treasury - Australian Government
- Offshore Bulk Terminal Pte Ltd, Singapore
- Globalindo Alam Lestari - Indonesia
- Altura Mining Limited, Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Meenaskhi Energy Private Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Parliament of New Zealand
- Borneo Indobara - Indonesia
- Global Coal Blending Company Limited - Australia
- Latin American Coal - Colombia
- Thiess Contractors Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Therma Luzon, Inc, Philippines
- Central Java Power - Indonesia
- Directorate Of Revenue Intelligence - India
- Coal and Oil Company - UAE
- SN Aboitiz Power Inc, Philippines
- Kobexindo Tractors - Indoneisa
- Interocean Group of Companies - India
- Xindia Steels Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kumho Petrochemical, South Korea
- Asmin Koalindo Tuhup - Indonesia
- Electricity Generating Authority of Thailand
- San Jose City I Power Corp, Philippines
- Sical Logistics Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Coastal Gujarat Power Limited - India
- Leighton Contractors Pty Ltd - Australia
- Global Green Power PLC Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Heidelberg Cement - Germany
- Holcim Trading Pte Ltd - Singapore
- Australian Coal Association
- VISA Power Limited - India
- PNOC Exploration Corporation - Philippines
- Sree Jayajothi Cements Limited - India
- Bhoruka Overseas - Indonesia
- Bayan Resources Tbk. - Indonesia
- Kepco SPC Power Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Parry Sugars Refinery, India
- Australian Commodity Traders Exchange
- PowerSource Philippines DevCo
- London Commodity Brokers - England
- Star Paper Mills Limited - India
- Mintek Dendrill Indonesia
- Rio Tinto Coal - Australia
- GN Power Mariveles Coal Plant, Philippines
- Merrill Lynch Commodities Europe
- Ministry of Mines - Canada
- Tamil Nadu electricity Board
- Commonwealth Bank - Australia
- Sindya Power Generating Company Private Ltd
- Renaissance Capital - South Africa
- Makarim & Taira - Indonesia
- Orica Australia Pty. Ltd.
- Independent Power Producers Association of India
- CIMB Investment Bank - Malaysia
- McConnell Dowell - Australia
- The University of Queensland
- Eastern Energy - Thailand
- Aboitiz Power Corporation - Philippines
- Ministry of Transport, Egypt
- Siam City Cement - Thailand
- Bangladesh Power Developement Board
- Kideco Jaya Agung - Indonesia
- MS Steel International - UAE
- Neyveli Lignite Corporation Ltd, - India
- Economic Council, Georgia
- Global Business Power Corporation, Philippines
- Ambuja Cements Ltd - India
- Minerals Council of Australia
- Maheswari Brothers Coal Limited - India
- Sojitz Corporation - Japan
- Uttam Galva Steels Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Billiton Holdings Pty Ltd - Australia
- Mercator Lines Limited - India
- Metalloyd Limited - United Kingdom
- Dalmia Cement Bharat India
- Larsen & Toubro Limited - India
- Singapore Mercantile Exchange
- Manunggal Multi Energi - Indonesia
- Electricity Authority, New Zealand
- Kaltim Prima Coal - Indonesia
- PTC India Limited - India
- Pendopo Energi Batubara - Indonesia
- India Bulls Power Limited - India
- Bulk Trading Sa - Switzerland
- Ceylon Electricity Board - Sri Lanka
- Marubeni Corporation - India
- Chamber of Mines of South Africa
- Central Electricity Authority - India
- Pipit Mutiara Jaya. PT, Indonesia
- Grasim Industreis Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Standard Chartered Bank - UAE
- Directorate General of MIneral and Coal - Indonesia
- Goldman Sachs - Singapore
- Medco Energi Mining Internasional
- Mercuria Energy - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Malabar Cements Ltd - India
- Thai Mozambique Logistica
- International Coal Ventures Pvt Ltd - India
- Tata Chemicals Ltd - India
- Bhatia International Limited - India
- Wilmar Investment Holdings
- Power Finance Corporation Ltd., India
- Indo Tambangraya Megah - Indonesia
- ASAPP Information Group - India
- GAC Shipping (India) Pvt Ltd
- Planning Commission, India
- Banpu Public Company Limited - Thailand
- Timah Investasi Mineral - Indoneisa
- Agrawal Coal Company - India
- Edison Trading Spa - Italy
- Georgia Ports Authority, United States
- Vizag Seaport Private Limited - India
- Kapuas Tunggal Persada - Indonesia
- Barasentosa Lestari - Indonesia
- Trasteel International SA, Italy
- Ind-Barath Power Infra Limited - India
- Price Waterhouse Coopers - Russia
- Karbindo Abesyapradhi - Indoneisa
- Meralco Power Generation, Philippines
- European Bulk Services B.V. - Netherlands
- Semirara Mining and Power Corporation, Philippines
- Madhucon Powers Ltd - India
- Sarangani Energy Corporation, Philippines
- Antam Resourcindo - Indonesia
- Semirara Mining Corp, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Bhushan Steel Limited - India
- Formosa Plastics Group - Taiwan
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Essar Steel Hazira Ltd - India
- Riau Bara Harum - Indonesia
- Mjunction Services Limited - India
- Savvy Resources Ltd - HongKong
- Indian Energy Exchange, India
- The State Trading Corporation of India Ltd
- Karaikal Port Pvt Ltd - India
- Wood Mackenzie - Singapore
- Indogreen Group - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Cement Manufacturers Association - India
- GMR Energy Limited - India
- Indika Energy - Indonesia
- Intertek Mineral Services - Indonesia
- Indian Oil Corporation Limited
- Lanco Infratech Ltd - India
- Petron Corporation, Philippines
- South Luzon Thermal Energy Corporation
- TeaM Sual Corporation - Philippines
- ICICI Bank Limited - India
- Attock Cement Pakistan Limited
- Bukit Baiduri Energy - Indonesia
- SMC Global Power, Philippines
- Samtan Co., Ltd - South Korea
- Deloitte Consulting - India
- Sakthi Sugars Limited - India
- Toyota Tsusho Corporation, Japan
- OPG Power Generation Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- SMG Consultants - Indonesia
- New Zealand Coal & Carbon
- White Energy Company Limited
- Bharathi Cement Corporation - India
- Africa Commodities Group - South Africa
- Videocon Industries ltd - India
- Ministry of Finance - Indonesia
- Indonesian Coal Mining Association
- Aditya Birla Group - India
- Bukit Makmur.PT - Indonesia
- IHS Mccloskey Coal Group - USA
- Sinarmas Energy and Mining - Indonesia
- Port Waratah Coal Services - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Salva Resources Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- GVK Power & Infra Limited - India
- IEA Clean Coal Centre - UK
- Oldendorff Carriers - Singapore
- Rashtriya Ispat Nigam Limited - India
- Gujarat Mineral Development Corp Ltd - India
- LBH Netherlands Bv - Netherlands
- Binh Thuan Hamico - Vietnam
- Gujarat Electricity Regulatory Commission - India
- Baramulti Group, Indonesia
- Carbofer General Trading SA - India
- Chettinad Cement Corporation Ltd - India
- Orica Mining Services - Indonesia
- Energy Development Corp, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Straits Asia Resources Limited - Singapore
- CNBM International Corporation - China
- Kartika Selabumi Mining - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Posco Energy - South Korea
- Vedanta Resources Plc - India
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