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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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Monday, 17 July 23
APPROVED AMMONIA-FUELED CONTAINERSHIP - BENEFITS AND RISKS: REED SMITH
Following the news in Offshore Energy that Korea Maritime Consultants has secured approval in principle from the American Bureau of Shipping for it ...
Friday, 14 July 23
CLEAN COAL USE KEY TO DEEP CUTS IN EMISSIONS, STABLE ELECTRICITY SUPPLY - CHINA DAILY
China must push for the clean use of coal and step up integration of the dirty fuel with carbon capture, utilization and storage to achieve sustain ...
Thursday, 13 July 23
VIETNAM'S COAL EMISSIONS PRIMED FOR SURGE AFTER IMPORTS JUMP - REUTERS
Vietnam’s thermal power emissions are primed for a steep climb this summer after the country’s imports of thermal coal soared to their ...
Monday, 26 June 23
COAL PRODUCTION AND CONSUMPTION UP IN 2022 - EUROSTAT
In 2022, EU coal production and consumption continued to increase, reaching 349 million tonnes (+5% compared with the previous year) and 454 millio ...
Wednesday, 21 June 23
QATAR STRIKES SECOND BIG LNG SUPPLY DEAL WITH CHINA - REUTERS
Qatar on Tuesday secured its second large gas supply deal with a Chinese state-controlled company in less than a year, putting Asia clearly ahead i ...
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- McConnell Dowell - Australia
- White Energy Company Limited
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Asia Pacific Energy Resources Ventures Inc, Philippines
- PNOC Exploration Corporation - Philippines
- Xindia Steels Limited - India
- Manunggal Multi Energi - Indonesia
- Parliament of New Zealand
- San Jose City I Power Corp, Philippines
- Posco Energy - South Korea
- Neyveli Lignite Corporation Ltd, - India
- Indonesian Coal Mining Association
- Georgia Ports Authority, United States
- Indian Energy Exchange, India
- Bhatia International Limited - India
- Therma Luzon, Inc, Philippines
- Leighton Contractors Pty Ltd - Australia
- Cement Manufacturers Association - India
- Madhucon Powers Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Central Electricity Authority - India
- CNBM International Corporation - China
- SN Aboitiz Power Inc, Philippines
- Maheswari Brothers Coal Limited - India
- PTC India Limited - India
- Mintek Dendrill Indonesia
- GAC Shipping (India) Pvt Ltd
- Tata Chemicals Ltd - India
- Straits Asia Resources Limited - Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Agrawal Coal Company - India
- Dalmia Cement Bharat India
- Siam City Cement PLC, Thailand
- Billiton Holdings Pty Ltd - Australia
- Minerals Council of Australia
- Simpson Spence & Young - Indonesia
- International Coal Ventures Pvt Ltd - India
- Standard Chartered Bank - UAE
- Grasim Industreis Ltd - India
- Power Finance Corporation Ltd., India
- Meralco Power Generation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Oldendorff Carriers - Singapore
- Coalindo Energy - Indonesia
- Binh Thuan Hamico - Vietnam
- Banpu Public Company Limited - Thailand
- Mjunction Services Limited - India
- ICICI Bank Limited - India
- Ministry of Finance - Indonesia
- Planning Commission, India
- Timah Investasi Mineral - Indoneisa
- IHS Mccloskey Coal Group - USA
- Thai Mozambique Logistica
- Global Green Power PLC Corporation, Philippines
- MS Steel International - UAE
- Parry Sugars Refinery, India
- Ind-Barath Power Infra Limited - India
- SMG Consultants - Indonesia
- Rio Tinto Coal - Australia
- Kalimantan Lumbung Energi - Indonesia
- Jaiprakash Power Ventures ltd
- Wood Mackenzie - Singapore
- Global Business Power Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- Pendopo Energi Batubara - Indonesia
- TeaM Sual Corporation - Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Wilmar Investment Holdings
- Africa Commodities Group - South Africa
- London Commodity Brokers - England
- Jorong Barutama Greston.PT - Indonesia
- Jindal Steel & Power Ltd - India
- The University of Queensland
- Kaltim Prima Coal - Indonesia
- Petron Corporation, Philippines
- Videocon Industries ltd - India
- Indian Oil Corporation Limited
- ASAPP Information Group - India
- PowerSource Philippines DevCo
- Kepco SPC Power Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Tamil Nadu electricity Board
- Sarangani Energy Corporation, Philippines
- Ministry of Transport, Egypt
- TNB Fuel Sdn Bhd - Malaysia
- Gujarat Electricity Regulatory Commission - India
- Indogreen Group - Indonesia
- Metalloyd Limited - United Kingdom
- Kumho Petrochemical, South Korea
- Makarim & Taira - Indonesia
- Attock Cement Pakistan Limited
- OPG Power Generation Pvt Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Goldman Sachs - Singapore
- Bhushan Steel Limited - India
- Formosa Plastics Group - Taiwan
- Aboitiz Power Corporation - Philippines
- Bulk Trading Sa - Switzerland
- Uttam Galva Steels Limited - India
- Globalindo Alam Lestari - Indonesia
- Kideco Jaya Agung - Indonesia
- Coastal Gujarat Power Limited - India
- Sindya Power Generating Company Private Ltd
- Aditya Birla Group - India
- Gujarat Sidhee Cement - India
- Interocean Group of Companies - India
- Toyota Tsusho Corporation, Japan
- Australian Coal Association
- Vizag Seaport Private Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Directorate Of Revenue Intelligence - India
- Star Paper Mills Limited - India
- Independent Power Producers Association of India
- Port Waratah Coal Services - Australia
- Mercuria Energy - Indonesia
- Eastern Energy - Thailand
- Central Java Power - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- India Bulls Power Limited - India
- Thiess Contractors Indonesia
- Orica Australia Pty. Ltd.
- Economic Council, Georgia
- Romanian Commodities Exchange
- Edison Trading Spa - Italy
- Kohat Cement Company Ltd. - Pakistan
- Commonwealth Bank - Australia
- AsiaOL BioFuels Corp., Philippines
- Orica Mining Services - Indonesia
- Indika Energy - Indonesia
- Marubeni Corporation - India
- Gujarat Mineral Development Corp Ltd - India
- Electricity Authority, New Zealand
- Energy Link Ltd, New Zealand
- Antam Resourcindo - Indonesia
- Deloitte Consulting - India
- Carbofer General Trading SA - India
- Meenaskhi Energy Private Limited - India
- Medco Energi Mining Internasional
- New Zealand Coal & Carbon
- Intertek Mineral Services - Indonesia
- Altura Mining Limited, Indonesia
- LBH Netherlands Bv - Netherlands
- Bukit Makmur.PT - Indonesia
- Mercator Lines Limited - India
- Bayan Resources Tbk. - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Merrill Lynch Commodities Europe
- Heidelberg Cement - Germany
- Karaikal Port Pvt Ltd - India
- Riau Bara Harum - Indonesia
- Singapore Mercantile Exchange
- Siam City Cement - Thailand
- Malabar Cements Ltd - India
- Sakthi Sugars Limited - India
- Eastern Coal Council - USA
- Essar Steel Hazira Ltd - India
- GMR Energy Limited - India
- Price Waterhouse Coopers - Russia
- Lanco Infratech Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Energy Development Corp, Philippines
- Trasteel International SA, Italy
- Sree Jayajothi Cements Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Sojitz Corporation - Japan
- South Luzon Thermal Energy Corporation
- Larsen & Toubro Limited - India
- Australian Commodity Traders Exchange
- Ambuja Cements Ltd - India
- Bharathi Cement Corporation - India
- Samtan Co., Ltd - South Korea
- Coal and Oil Company - UAE
- Maharashtra Electricity Regulatory Commission - India
- Anglo American - United Kingdom
- Renaissance Capital - South Africa
- Bank of Tokyo Mitsubishi UFJ Ltd
- Semirara Mining Corp, Philippines
- SMC Global Power, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Karbindo Abesyapradhi - Indoneisa
- Salva Resources Pvt Ltd - India
- Bangladesh Power Developement Board
- European Bulk Services B.V. - Netherlands
- Holcim Trading Pte Ltd - Singapore
- Borneo Indobara - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Barasentosa Lestari - Indonesia
- Latin American Coal - Colombia
- Sical Logistics Limited - India
- Chettinad Cement Corporation Ltd - India
- The State Trading Corporation of India Ltd
- Electricity Generating Authority of Thailand
- Bukit Baiduri Energy - Indonesia
- VISA Power Limited - India
- Ministry of Mines - Canada
- Bhoruka Overseas - Indonesia
- Baramulti Group, Indonesia
- The Treasury - Australian Government
- Iligan Light & Power Inc, Philippines
- Savvy Resources Ltd - HongKong
- CIMB Investment Bank - Malaysia
- IEA Clean Coal Centre - UK
- Chamber of Mines of South Africa
- Vedanta Resources Plc - India
- Miang Besar Coal Terminal - Indonesia
- Kartika Selabumi Mining - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Kapuas Tunggal Persada - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Indo Tambangraya Megah - Indonesia
- GVK Power & Infra Limited - India
- Global Coal Blending Company Limited - Australia
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