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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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Tuesday, 14 November 23
CHINA'S BELT AND ROAD INITIATIVE TURNS AWAY FROM COAL - WOOD MACKENZIE
Ambitious, contentious and big spending, China’s Belt and Road Initiative (BRI) is 10 years old. In that time, China has splashed more than U ...
Friday, 10 November 23
THE COMMODITIES FEED: OIL UNDER PRESSURE - ING
Energy – Brent plummets
The oil market came under significant pressure yesterday. ICE Brent settled 4.19% lower on the day and ...
Friday, 10 November 23
COAL USE AT U.S. POWER PLANTS CONTINUES DOWNWARD SPIRAL; FULL IMPACT ON MINES TO BE FELT IN 2024 - IEEFA
This year, the use of coal by the U.S.’s power producers has been so anemic that the fuel has not achieved a 20% market share in any month so ...
Friday, 10 November 23
INDIA: NATIONAL COAL INDEX RISES 3.83 POINTS IN SEPTEMBER AMID HIGHER DEMAND - LIVEMINT
The National Coal Index (NCI) rose 3.83 points to 143.91 in September amid growing demand for coal.
The union coal ministry on Tuesd ...
Thursday, 09 November 23
WE'RE PRODUCING TOO MUCH COAL, OIL AND GAS, REPORT SAYS - WSJ
World leaders pledged in 2015 to reduce emissions in a combined effort to limit climate change.
Now they are stepping up production ...
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- Lanco Infratech Ltd - India
- Jindal Steel & Power Ltd - India
- Ministry of Finance - Indonesia
- Mercuria Energy - Indonesia
- Latin American Coal - Colombia
- SMC Global Power, Philippines
- Siam City Cement PLC, Thailand
- Coastal Gujarat Power Limited - India
- Billiton Holdings Pty Ltd - Australia
- SN Aboitiz Power Inc, Philippines
- Indian Oil Corporation Limited
- GAC Shipping (India) Pvt Ltd
- Mercator Lines Limited - India
- Thai Mozambique Logistica
- Videocon Industries ltd - India
- The University of Queensland
- Barasentosa Lestari - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bukit Baiduri Energy - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Makarim & Taira - Indonesia
- Timah Investasi Mineral - Indoneisa
- Interocean Group of Companies - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- Wood Mackenzie - Singapore
- SMG Consultants - Indonesia
- OPG Power Generation Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- Parry Sugars Refinery, India
- Malabar Cements Ltd - India
- Bangladesh Power Developement Board
- Trasteel International SA, Italy
- Minerals Council of Australia
- Renaissance Capital - South Africa
- Cement Manufacturers Association - India
- CNBM International Corporation - China
- Vedanta Resources Plc - India
- Sical Logistics Limited - India
- Aditya Birla Group - India
- Thiess Contractors Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Gujarat Sidhee Cement - India
- IHS Mccloskey Coal Group - USA
- TeaM Sual Corporation - Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Indo Tambangraya Megah - Indonesia
- Africa Commodities Group - South Africa
- Indika Energy - Indonesia
- Pendopo Energi Batubara - Indonesia
- Bhushan Steel Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Uttam Galva Steels Limited - India
- South Luzon Thermal Energy Corporation
- Madhucon Powers Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- The Treasury - Australian Government
- Ind-Barath Power Infra Limited - India
- Kaltim Prima Coal - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Australian Commodity Traders Exchange
- Bukit Asam (Persero) Tbk - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Semirara Mining and Power Corporation, Philippines
- Bhoruka Overseas - Indonesia
- ASAPP Information Group - India
- Coalindo Energy - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Metalloyd Limited - United Kingdom
- Independent Power Producers Association of India
- Ministry of Mines - Canada
- Sojitz Corporation - Japan
- Deloitte Consulting - India
- Bulk Trading Sa - Switzerland
- Siam City Cement - Thailand
- Sinarmas Energy and Mining - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Planning Commission, India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Heidelberg Cement - Germany
- Medco Energi Mining Internasional
- Altura Mining Limited, Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Attock Cement Pakistan Limited
- Globalindo Alam Lestari - Indonesia
- Kideco Jaya Agung - Indonesia
- Energy Link Ltd, New Zealand
- Indian Energy Exchange, India
- Binh Thuan Hamico - Vietnam
- Power Finance Corporation Ltd., India
- Borneo Indobara - Indonesia
- Global Green Power PLC Corporation, Philippines
- Orica Australia Pty. Ltd.
- White Energy Company Limited
- AsiaOL BioFuels Corp., Philippines
- Ceylon Electricity Board - Sri Lanka
- Miang Besar Coal Terminal - Indonesia
- International Coal Ventures Pvt Ltd - India
- Grasim Industreis Ltd - India
- Bhatia International Limited - India
- Meenaskhi Energy Private Limited - India
- GMR Energy Limited - India
- Sarangani Energy Corporation, Philippines
- Electricity Authority, New Zealand
- Indogreen Group - Indonesia
- Ministry of Transport, Egypt
- Energy Development Corp, Philippines
- Central Java Power - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Gujarat Mineral Development Corp Ltd - India
- Directorate Of Revenue Intelligence - India
- Australian Coal Association
- Sindya Power Generating Company Private Ltd
- Formosa Plastics Group - Taiwan
- Kumho Petrochemical, South Korea
- Essar Steel Hazira Ltd - India
- Standard Chartered Bank - UAE
- Kepco SPC Power Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- Wilmar Investment Holdings
- PetroVietnam Power Coal Import and Supply Company
- Economic Council, Georgia
- Bayan Resources Tbk. - Indonesia
- Commonwealth Bank - Australia
- Eastern Coal Council - USA
- Kobexindo Tractors - Indoneisa
- Banpu Public Company Limited - Thailand
- Ambuja Cements Ltd - India
- ICICI Bank Limited - India
- Holcim Trading Pte Ltd - Singapore
- MS Steel International - UAE
- Port Waratah Coal Services - Australia
- New Zealand Coal & Carbon
- Chamber of Mines of South Africa
- Iligan Light & Power Inc, Philippines
- Goldman Sachs - Singapore
- Electricity Generating Authority of Thailand
- Coal and Oil Company - UAE
- Jaiprakash Power Ventures ltd
- PNOC Exploration Corporation - Philippines
- Romanian Commodities Exchange
- Semirara Mining Corp, Philippines
- Agrawal Coal Company - India
- Riau Bara Harum - Indonesia
- Georgia Ports Authority, United States
- Toyota Tsusho Corporation, Japan
- Star Paper Mills Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Manunggal Multi Energi - Indonesia
- Salva Resources Pvt Ltd - India
- Singapore Mercantile Exchange
- GN Power Mariveles Coal Plant, Philippines
- Straits Asia Resources Limited - Singapore
- Bharathi Cement Corporation - India
- Karaikal Port Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- Kapuas Tunggal Persada - Indonesia
- LBH Netherlands Bv - Netherlands
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Global Business Power Corporation, Philippines
- Edison Trading Spa - Italy
- IEA Clean Coal Centre - UK
- Oldendorff Carriers - Singapore
- Carbofer General Trading SA - India
- Simpson Spence & Young - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Tata Chemicals Ltd - India
- Parliament of New Zealand
- Sakthi Sugars Limited - India
- Petron Corporation, Philippines
- McConnell Dowell - Australia
- London Commodity Brokers - England
- Therma Luzon, Inc, Philippines
- Aboitiz Power Corporation - Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Baramulti Group, Indonesia
- Orica Mining Services - Indonesia
- Leighton Contractors Pty Ltd - Australia
- India Bulls Power Limited - India
- Bukit Makmur.PT - Indonesia
- Posco Energy - South Korea
- VISA Power Limited - India
- GVK Power & Infra Limited - India
- Anglo American - United Kingdom
- Chettinad Cement Corporation Ltd - India
- Mjunction Services Limited - India
- PTC India Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Rio Tinto Coal - Australia
- Savvy Resources Ltd - HongKong
- Cigading International Bulk Terminal - Indonesia
- CIMB Investment Bank - Malaysia
- Vizag Seaport Private Limited - India
- Dalmia Cement Bharat India
- Meralco Power Generation, Philippines
- Intertek Mineral Services - Indonesia
- Samtan Co., Ltd - South Korea
- Neyveli Lignite Corporation Ltd, - India
- Central Electricity Authority - India
- Mintek Dendrill Indonesia
- Merrill Lynch Commodities Europe
- Eastern Energy - Thailand
- Jorong Barutama Greston.PT - Indonesia
- Antam Resourcindo - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Marubeni Corporation - India
- Larsen & Toubro Limited - India
- San Jose City I Power Corp, Philippines
- European Bulk Services B.V. - Netherlands
- PowerSource Philippines DevCo
- Tamil Nadu electricity Board
- Xindia Steels Limited - India
- Kartika Selabumi Mining - Indonesia
- The State Trading Corporation of India Ltd
- Rashtriya Ispat Nigam Limited - India
- Indonesian Coal Mining Association
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