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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, 10 September 23
CHINA AUGUST COAL IMPORTS OF 44.3 MLN T HIT RECORD - REUTERS
China, the world’s top coal consumer, imported 44.3 million metric tons of the fuel last month, customs data showed, the highest amount in an ...
Tuesday, 22 August 23
CHINA'S COAL PRODUCTION LOGS STEADY GROWTH IN JANUARY-JULY: XINHUA
China’s output of raw coal went up 3.6 percent year on year in the first seven months of this year, official data showed.
The ...
Sunday, 13 August 23
THE COMMODITIES FEED: LNG SUPPLY RISKS LINGER - ING
Energy – OPEC sees deficit over remainder of 2023
Oil prices came under some pressure yesterday with ICE Brent settling a litt ...
Wednesday, 09 August 23
COAL TRADE TO RETURN TO 2019 LEVELS - BALTIC EXCHANGE
The International Energy Agency’s mid-year Coal Market Update for 2023 brings both positive and concerning news for the global coal industry. ...
Sunday, 23 July 23
ANALYSIS-INDIA'S COAL MINING BET STUMBLES AS WARY BANKS WEIGH RISING RISKS - REUTERS
India’s drive to ramp up coal output to meet growing energy demand is faltering due to banks’ reluctance to finance newly auctioned min ...
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- Bangladesh Power Developement Board
- Gujarat Sidhee Cement - India
- Lanco Infratech Ltd - India
- India Bulls Power Limited - India
- Ministry of Finance - Indonesia
- Romanian Commodities Exchange
- Semirara Mining and Power Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- PowerSource Philippines DevCo
- SN Aboitiz Power Inc, Philippines
- European Bulk Services B.V. - Netherlands
- Cement Manufacturers Association - India
- Australian Commodity Traders Exchange
- Semirara Mining Corp, Philippines
- Aboitiz Power Corporation - Philippines
- Attock Cement Pakistan Limited
- Vizag Seaport Private Limited - India
- CNBM International Corporation - China
- Timah Investasi Mineral - Indoneisa
- Grasim Industreis Ltd - India
- Indo Tambangraya Megah - Indonesia
- Makarim & Taira - Indonesia
- Sakthi Sugars Limited - India
- Intertek Mineral Services - Indonesia
- ASAPP Information Group - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Borneo Indobara - Indonesia
- Georgia Ports Authority, United States
- Bahari Cakrawala Sebuku - Indonesia
- Altura Mining Limited, Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Electricity Generating Authority of Thailand
- Iligan Light & Power Inc, Philippines
- Formosa Plastics Group - Taiwan
- Chettinad Cement Corporation Ltd - India
- Globalindo Alam Lestari - Indonesia
- GMR Energy Limited - India
- Independent Power Producers Association of India
- TNB Fuel Sdn Bhd - Malaysia
- PNOC Exploration Corporation - Philippines
- Kartika Selabumi Mining - Indonesia
- Economic Council, Georgia
- SMC Global Power, Philippines
- Deloitte Consulting - India
- Coalindo Energy - Indonesia
- Aditya Birla Group - India
- Meralco Power Generation, Philippines
- Wood Mackenzie - Singapore
- International Coal Ventures Pvt Ltd - India
- Medco Energi Mining Internasional
- SMG Consultants - Indonesia
- Bhushan Steel Limited - India
- LBH Netherlands Bv - Netherlands
- Riau Bara Harum - Indonesia
- Bayan Resources Tbk. - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- The State Trading Corporation of India Ltd
- Barasentosa Lestari - Indonesia
- Agrawal Coal Company - India
- Simpson Spence & Young - Indonesia
- Energy Development Corp, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Jindal Steel & Power Ltd - India
- Indika Energy - Indonesia
- Eastern Energy - Thailand
- Jaiprakash Power Ventures ltd
- Orica Mining Services - Indonesia
- ICICI Bank Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Petron Corporation, Philippines
- Bharathi Cement Corporation - India
- Petrochimia International Co. Ltd.- Taiwan
- Sojitz Corporation - Japan
- Power Finance Corporation Ltd., India
- Bhatia International Limited - India
- Uttam Galva Steels Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- Maheswari Brothers Coal Limited - India
- Bulk Trading Sa - Switzerland
- VISA Power Limited - India
- Ministry of Mines - Canada
- Essar Steel Hazira Ltd - India
- Edison Trading Spa - Italy
- Bukit Makmur.PT - Indonesia
- Siam City Cement PLC, Thailand
- Therma Luzon, Inc, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Posco Energy - South Korea
- Vijayanagar Sugar Pvt Ltd - India
- Indogreen Group - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Karbindo Abesyapradhi - Indoneisa
- Metalloyd Limited - United Kingdom
- OPG Power Generation Pvt Ltd - India
- Tata Chemicals Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Anglo American - United Kingdom
- Mintek Dendrill Indonesia
- Sinarmas Energy and Mining - Indonesia
- CIMB Investment Bank - Malaysia
- South Luzon Thermal Energy Corporation
- Mercator Lines Limited - India
- Oldendorff Carriers - Singapore
- Port Waratah Coal Services - Australia
- Central Electricity Authority - India
- Gujarat Mineral Development Corp Ltd - India
- Star Paper Mills Limited - India
- McConnell Dowell - Australia
- Baramulti Group, Indonesia
- Singapore Mercantile Exchange
- Ambuja Cements Ltd - India
- Pendopo Energi Batubara - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Malabar Cements Ltd - India
- IHS Mccloskey Coal Group - USA
- Sree Jayajothi Cements Limited - India
- Energy Link Ltd, New Zealand
- Commonwealth Bank - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Marubeni Corporation - India
- Heidelberg Cement - Germany
- Merrill Lynch Commodities Europe
- Kalimantan Lumbung Energi - Indonesia
- Ministry of Transport, Egypt
- Toyota Tsusho Corporation, Japan
- Central Java Power - Indonesia
- Africa Commodities Group - South Africa
- Maharashtra Electricity Regulatory Commission - India
- Global Coal Blending Company Limited - Australia
- PTC India Limited - India
- Mercuria Energy - Indonesia
- Dalmia Cement Bharat India
- Sarangani Energy Corporation, Philippines
- Thai Mozambique Logistica
- Coastal Gujarat Power Limited - India
- London Commodity Brokers - England
- Sindya Power Generating Company Private Ltd
- The Treasury - Australian Government
- Interocean Group of Companies - India
- Global Green Power PLC Corporation, Philippines
- Bhoruka Overseas - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- MS Steel International - UAE
- Carbofer General Trading SA - India
- GVK Power & Infra Limited - India
- Xindia Steels Limited - India
- Alfred C Toepfer International GmbH - Germany
- Bukit Baiduri Energy - Indonesia
- GAC Shipping (India) Pvt Ltd
- Antam Resourcindo - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- IEA Clean Coal Centre - UK
- Kobexindo Tractors - Indoneisa
- Orica Australia Pty. Ltd.
- Larsen & Toubro Limited - India
- Straits Asia Resources Limited - Singapore
- Latin American Coal - Colombia
- Kapuas Tunggal Persada - Indonesia
- San Jose City I Power Corp, Philippines
- Indonesian Coal Mining Association
- Ind-Barath Power Infra Limited - India
- Krishnapatnam Port Company Ltd. - India
- Ceylon Electricity Board - Sri Lanka
- Directorate Of Revenue Intelligence - India
- Mjunction Services Limited - India
- Parliament of New Zealand
- Meenaskhi Energy Private Limited - India
- Renaissance Capital - South Africa
- Tamil Nadu electricity Board
- Manunggal Multi Energi - Indonesia
- Coal and Oil Company - UAE
- White Energy Company Limited
- The University of Queensland
- Thiess Contractors Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Electricity Authority, New Zealand
- Cigading International Bulk Terminal - Indonesia
- Kideco Jaya Agung - Indonesia
- Price Waterhouse Coopers - Russia
- Samtan Co., Ltd - South Korea
- TeaM Sual Corporation - Philippines
- Trasteel International SA, Italy
- Planning Commission, India
- Kepco SPC Power Corporation, Philippines
- Parry Sugars Refinery, India
- Kohat Cement Company Ltd. - Pakistan
- Indian Energy Exchange, India
- Videocon Industries ltd - India
- AsiaOL BioFuels Corp., Philippines
- PetroVietnam Power Coal Import and Supply Company
- Gujarat Electricity Regulatory Commission - India
- Rio Tinto Coal - Australia
- Kaltim Prima Coal - Indonesia
- Indian Oil Corporation Limited
- Salva Resources Pvt Ltd - India
- Kumho Petrochemical, South Korea
- Standard Chartered Bank - UAE
- Chamber of Mines of South Africa
- Karaikal Port Pvt Ltd - India
- Madhucon Powers Ltd - India
- Siam City Cement - Thailand
- Minerals Council of Australia
- Rashtriya Ispat Nigam Limited - India
- Miang Besar Coal Terminal - Indonesia
- Binh Thuan Hamico - Vietnam
- Australian Coal Association
- Holcim Trading Pte Ltd - Singapore
- Vedanta Resources Plc - India
- Bukit Asam (Persero) Tbk - Indonesia
- New Zealand Coal & Carbon
- Savvy Resources Ltd - HongKong
- Wilmar Investment Holdings
- Goldman Sachs - Singapore
- Global Business Power Corporation, Philippines
- Sical Logistics Limited - India
- Eastern Coal Council - USA
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