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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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Wednesday, 21 June 23
CHINA'S MAY COAL IMPORTS FROM AUSTRALIA RECOVER TO PRE-BAN LEVELS - REUTERS
Australian coal sales to China increased in May, as trade resumed between them even as overall coal demand weakened against an uncertain macroecono ...
Monday, 19 June 23
DROUGHT-DEPLETED HYDROPOWER DRIVES CHINA TO TURN TO COAL - REUTERS
China has leant hard on coal-fired power plants as well as wind and solar generators to make up for a shortfall in hydroelectric generation as a re ...
Monday, 19 June 23
CHINA COAL OUTPUT UP 4.2 PCT IN MAY - XINHUA
China’s raw coal output posted steady growth in May, official data showed.
The country produced 390 million tonnes of raw coal ...
Wednesday, 24 May 23
AMMONIA-FUELLED BULK CARRIERS WITHIN FIVE YEARS - BALTIC EXCHANGE
Within five years, ships powered by clean ammonia could be a feature on the iron ore trade routes between West Australia and East Asia.
A study ...
Tuesday, 23 May 23
CHINA'S APRIL COAL OUTPUT LEAPS 11% ON YEAR, BUT DEMAND DOWNTURN LOOMS - REUTERS
China’s daily coal output in April jumped 11% from the same month a year earlier, boosted by Beijing’s order to increase supply to ensu ...
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- McConnell Dowell - Australia
- White Energy Company Limited
- Rashtriya Ispat Nigam Limited - India
- ICICI Bank Limited - India
- OPG Power Generation Pvt Ltd - India
- Central Java Power - Indonesia
- Kaltim Prima Coal - Indonesia
- Metalloyd Limited - United Kingdom
- Parry Sugars Refinery, India
- Intertek Mineral Services - Indonesia
- Maheswari Brothers Coal Limited - India
- LBH Netherlands Bv - Netherlands
- Dalmia Cement Bharat India
- Coastal Gujarat Power Limited - India
- Globalindo Alam Lestari - Indonesia
- Trasteel International SA, Italy
- Kapuas Tunggal Persada - Indonesia
- Orica Mining Services - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Global Green Power PLC Corporation, Philippines
- Bhushan Steel Limited - India
- Mercator Lines Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- New Zealand Coal & Carbon
- Leighton Contractors Pty Ltd - Australia
- Kumho Petrochemical, South Korea
- Maharashtra Electricity Regulatory Commission - India
- Aboitiz Power Corporation - Philippines
- Alfred C Toepfer International GmbH - Germany
- IEA Clean Coal Centre - UK
- Kepco SPC Power Corporation, Philippines
- Indogreen Group - Indonesia
- IHS Mccloskey Coal Group - USA
- SMC Global Power, Philippines
- Aditya Birla Group - India
- Krishnapatnam Port Company Ltd. - India
- Eastern Energy - Thailand
- Altura Mining Limited, Indonesia
- Uttam Galva Steels Limited - India
- Australian Coal Association
- Manunggal Multi Energi - Indonesia
- Sindya Power Generating Company Private Ltd
- Bahari Cakrawala Sebuku - Indonesia
- ASAPP Information Group - India
- Timah Investasi Mineral - Indoneisa
- Parliament of New Zealand
- Interocean Group of Companies - India
- Videocon Industries ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Essar Steel Hazira Ltd - India
- Indo Tambangraya Megah - Indonesia
- Bharathi Cement Corporation - India
- Energy Development Corp, Philippines
- CNBM International Corporation - China
- Gujarat Electricity Regulatory Commission - India
- The Treasury - Australian Government
- Ceylon Electricity Board - Sri Lanka
- PetroVietnam Power Coal Import and Supply Company
- Rio Tinto Coal - Australia
- Chamber of Mines of South Africa
- Merrill Lynch Commodities Europe
- Economic Council, Georgia
- Banpu Public Company Limited - Thailand
- Meralco Power Generation, Philippines
- Central Electricity Authority - India
- Coalindo Energy - Indonesia
- Sical Logistics Limited - India
- Latin American Coal - Colombia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Makarim & Taira - Indonesia
- VISA Power Limited - India
- South Luzon Thermal Energy Corporation
- Bukit Makmur.PT - Indonesia
- Semirara Mining Corp, Philippines
- Deloitte Consulting - India
- The University of Queensland
- Medco Energi Mining Internasional
- SMG Consultants - Indonesia
- Energy Link Ltd, New Zealand
- CIMB Investment Bank - Malaysia
- Bayan Resources Tbk. - Indonesia
- Siam City Cement PLC, Thailand
- Ministry of Mines - Canada
- Karaikal Port Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- Wilmar Investment Holdings
- Asmin Koalindo Tuhup - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Sinarmas Energy and Mining - Indonesia
- Formosa Plastics Group - Taiwan
- London Commodity Brokers - England
- Malabar Cements Ltd - India
- Global Business Power Corporation, Philippines
- Oldendorff Carriers - Singapore
- Romanian Commodities Exchange
- Directorate General of MIneral and Coal - Indonesia
- Madhucon Powers Ltd - India
- Africa Commodities Group - South Africa
- Marubeni Corporation - India
- Ind-Barath Power Infra Limited - India
- Power Finance Corporation Ltd., India
- Bhatia International Limited - India
- Bangladesh Power Developement Board
- Cement Manufacturers Association - India
- Kideco Jaya Agung - Indonesia
- SN Aboitiz Power Inc, Philippines
- Samtan Co., Ltd - South Korea
- Mintek Dendrill Indonesia
- Meenaskhi Energy Private Limited - India
- Bhoruka Overseas - Indonesia
- PowerSource Philippines DevCo
- Minerals Council of Australia
- Mjunction Services Limited - India
- Bulk Trading Sa - Switzerland
- Chettinad Cement Corporation Ltd - India
- Tata Chemicals Ltd - India
- Pendopo Energi Batubara - Indonesia
- Mercuria Energy - Indonesia
- Heidelberg Cement - Germany
- Bukit Asam (Persero) Tbk - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Antam Resourcindo - Indonesia
- Goldman Sachs - Singapore
- Attock Cement Pakistan Limited
- Binh Thuan Hamico - Vietnam
- Thiess Contractors Indonesia
- Posco Energy - South Korea
- Baramulti Group, Indonesia
- Australian Commodity Traders Exchange
- Agrawal Coal Company - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Wood Mackenzie - Singapore
- Renaissance Capital - South Africa
- Karbindo Abesyapradhi - Indoneisa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bukit Baiduri Energy - Indonesia
- Georgia Ports Authority, United States
- Ambuja Cements Ltd - India
- Eastern Coal Council - USA
- Siam City Cement - Thailand
- Carbofer General Trading SA - India
- Electricity Generating Authority of Thailand
- Ministry of Finance - Indonesia
- Indonesian Coal Mining Association
- Star Paper Mills Limited - India
- Simpson Spence & Young - Indonesia
- International Coal Ventures Pvt Ltd - India
- India Bulls Power Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Ministry of Transport, Egypt
- Indian Energy Exchange, India
- Commonwealth Bank - Australia
- Kalimantan Lumbung Energi - Indonesia
- Tamil Nadu electricity Board
- Sakthi Sugars Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Pipit Mutiara Jaya. PT, Indonesia
- GMR Energy Limited - India
- Grasim Industreis Ltd - India
- Larsen & Toubro Limited - India
- Singapore Mercantile Exchange
- Indian Oil Corporation Limited
- Sojitz Corporation - Japan
- Cigading International Bulk Terminal - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- PNOC Exploration Corporation - Philippines
- San Jose City I Power Corp, Philippines
- Kohat Cement Company Ltd. - Pakistan
- GVK Power & Infra Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Jindal Steel & Power Ltd - India
- Standard Chartered Bank - UAE
- Vijayanagar Sugar Pvt Ltd - India
- PTC India Limited - India
- Anglo American - United Kingdom
- Holcim Trading Pte Ltd - Singapore
- Electricity Authority, New Zealand
- Gujarat Sidhee Cement - India
- Independent Power Producers Association of India
- Riau Bara Harum - Indonesia
- Planning Commission, India
- Jaiprakash Power Ventures ltd
- Toyota Tsusho Corporation, Japan
- GAC Shipping (India) Pvt Ltd
- Port Waratah Coal Services - Australia
- Barasentosa Lestari - Indonesia
- Therma Luzon, Inc, Philippines
- Miang Besar Coal Terminal - Indonesia
- Xindia Steels Limited - India
- Price Waterhouse Coopers - Russia
- European Bulk Services B.V. - Netherlands
- Savvy Resources Ltd - HongKong
- Coal and Oil Company - UAE
- The State Trading Corporation of India Ltd
- Lanco Infratech Ltd - India
- Sarangani Energy Corporation, Philippines
- Orica Australia Pty. Ltd.
- Straits Asia Resources Limited - Singapore
- Vizag Seaport Private Limited - India
- Global Coal Blending Company Limited - Australia
- MS Steel International - UAE
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kobexindo Tractors - Indoneisa
- AsiaOL BioFuels Corp., Philippines
- Vedanta Resources Plc - India
- Kartika Selabumi Mining - Indonesia
- Indika Energy - Indonesia
- Borneo Indobara - Indonesia
- Sree Jayajothi Cements Limited - India
- Petron Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- Salva Resources Pvt Ltd - India
- Thai Mozambique Logistica
- Edison Trading Spa - Italy
- Gujarat Mineral Development Corp Ltd - India
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