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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, 16 April 23
CHINA JUGGLES FOUR MAJOR ECONOMIC CHANGES IN 2023 - WOOD MACKENZIE
Change is afoot in China. Economic growth is slowing, while rising political tensions between China and the US, coupled with global supply chain re ...
Sunday, 16 April 23
CHINA'S MARCH COAL IMPORTS JUMP TO 3-YEAR HIGH - REUTERS
China’s coal imports surged in March to their highest in any month over the past three years as utilities increased purchases on expectations ...
Sunday, 16 April 23
OPEC KEEPS WORLD OIL DEMAND GROWTH OUTLOOK UNCHANGED
The OPEC Reference Basket (ORB) declined in March by $3.43, or 4.2%, m-o-m to average $78.45/b. The ICE Brent first-month contract fell by $4.33, o ...
Sunday, 16 April 23
CHEAPER SPOT LNG PRICES TEMPT SOME ASIAN BUYERS AMID SUPPLY GAINS - REUTERS
Cheaper spot prices for liquefied natural gas (LNG) are luring price-sensitive buyers back in Asia, with China and India recording rising imports i ...
Tuesday, 11 April 23
COAL USE CLIMBS WORLDWIDE DESPITE PROMISES TO SLASH IT - AAP
The burning of coal for electricity, cement, steel and other uses went up in 2022 despite global promises to phase down the fuel that is the bigges ...
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- Riau Bara Harum - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Indogreen Group - Indonesia
- Bhushan Steel Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Uttam Galva Steels Limited - India
- Antam Resourcindo - Indonesia
- Formosa Plastics Group - Taiwan
- Indonesian Coal Mining Association
- Pendopo Energi Batubara - Indonesia
- Karaikal Port Pvt Ltd - India
- Kumho Petrochemical, South Korea
- Thai Mozambique Logistica
- The State Trading Corporation of India Ltd
- Heidelberg Cement - Germany
- OPG Power Generation Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- ICICI Bank Limited - India
- Vedanta Resources Plc - India
- Bukit Baiduri Energy - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Bulk Trading Sa - Switzerland
- Bukit Asam (Persero) Tbk - Indonesia
- Goldman Sachs - Singapore
- Electricity Authority, New Zealand
- PowerSource Philippines DevCo
- Kohat Cement Company Ltd. - Pakistan
- Globalindo Alam Lestari - Indonesia
- Dalmia Cement Bharat India
- Latin American Coal - Colombia
- SN Aboitiz Power Inc, Philippines
- Petron Corporation, Philippines
- Essar Steel Hazira Ltd - India
- MS Steel International - UAE
- Maheswari Brothers Coal Limited - India
- IEA Clean Coal Centre - UK
- Bahari Cakrawala Sebuku - Indonesia
- The University of Queensland
- Semirara Mining Corp, Philippines
- Coalindo Energy - Indonesia
- San Jose City I Power Corp, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Mercator Lines Limited - India
- Medco Energi Mining Internasional
- Kaltim Prima Coal - Indonesia
- Straits Asia Resources Limited - Singapore
- Ministry of Finance - Indonesia
- Energy Development Corp, Philippines
- Sinarmas Energy and Mining - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Semirara Mining and Power Corporation, Philippines
- Parliament of New Zealand
- Alfred C Toepfer International GmbH - Germany
- Ind-Barath Power Infra Limited - India
- Samtan Co., Ltd - South Korea
- Kepco SPC Power Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- Sindya Power Generating Company Private Ltd
- McConnell Dowell - Australia
- Carbofer General Trading SA - India
- Merrill Lynch Commodities Europe
- LBH Netherlands Bv - Netherlands
- Pipit Mutiara Jaya. PT, Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Eastern Coal Council - USA
- PNOC Exploration Corporation - Philippines
- Indian Oil Corporation Limited
- Global Business Power Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Intertek Mineral Services - Indonesia
- Kartika Selabumi Mining - Indonesia
- Lanco Infratech Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Wood Mackenzie - Singapore
- Jorong Barutama Greston.PT - Indonesia
- Videocon Industries ltd - India
- The Treasury - Australian Government
- Mercuria Energy - Indonesia
- Cement Manufacturers Association - India
- Iligan Light & Power Inc, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Binh Thuan Hamico - Vietnam
- Ambuja Cements Ltd - India
- Meralco Power Generation, Philippines
- Makarim & Taira - Indonesia
- Australian Commodity Traders Exchange
- Indika Energy - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Tata Chemicals Ltd - India
- Thiess Contractors Indonesia
- Meenaskhi Energy Private Limited - India
- Mjunction Services Limited - India
- Indo Tambangraya Megah - Indonesia
- Minerals Council of Australia
- Commonwealth Bank - Australia
- Bangladesh Power Developement Board
- Directorate Of Revenue Intelligence - India
- Leighton Contractors Pty Ltd - Australia
- Independent Power Producers Association of India
- SMC Global Power, Philippines
- New Zealand Coal & Carbon
- Aboitiz Power Corporation - Philippines
- Central Java Power - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- London Commodity Brokers - England
- Planning Commission, India
- Port Waratah Coal Services - Australia
- Global Coal Blending Company Limited - Australia
- Kapuas Tunggal Persada - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Cigading International Bulk Terminal - Indonesia
- Marubeni Corporation - India
- IHS Mccloskey Coal Group - USA
- TNB Fuel Sdn Bhd - Malaysia
- Standard Chartered Bank - UAE
- Mintek Dendrill Indonesia
- Rio Tinto Coal - Australia
- Star Paper Mills Limited - India
- Gujarat Electricity Regulatory Commission - India
- Chamber of Mines of South Africa
- Directorate General of MIneral and Coal - Indonesia
- Barasentosa Lestari - Indonesia
- South Luzon Thermal Energy Corporation
- Malabar Cements Ltd - India
- Simpson Spence & Young - Indonesia
- Billiton Holdings Pty Ltd - Australia
- VISA Power Limited - India
- Banpu Public Company Limited - Thailand
- Global Green Power PLC Corporation, Philippines
- Baramulti Group, Indonesia
- Agrawal Coal Company - India
- Savvy Resources Ltd - HongKong
- Kobexindo Tractors - Indoneisa
- Price Waterhouse Coopers - Russia
- Attock Cement Pakistan Limited
- TeaM Sual Corporation - Philippines
- India Bulls Power Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Chettinad Cement Corporation Ltd - India
- Singapore Mercantile Exchange
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- PTC India Limited - India
- Posco Energy - South Korea
- Economic Council, Georgia
- Larsen & Toubro Limited - India
- Trasteel International SA, Italy
- GVK Power & Infra Limited - India
- European Bulk Services B.V. - Netherlands
- Ceylon Electricity Board - Sri Lanka
- Electricity Generating Authority of Thailand
- Karbindo Abesyapradhi - Indoneisa
- SMG Consultants - Indonesia
- Sarangani Energy Corporation, Philippines
- Deloitte Consulting - India
- Petrochimia International Co. Ltd.- Taiwan
- ASAPP Information Group - India
- Central Electricity Authority - India
- Sojitz Corporation - Japan
- Tamil Nadu electricity Board
- Grasim Industreis Ltd - India
- Eastern Energy - Thailand
- International Coal Ventures Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- Ministry of Transport, Egypt
- Siam City Cement - Thailand
- Power Finance Corporation Ltd., India
- Wilmar Investment Holdings
- Energy Link Ltd, New Zealand
- Salva Resources Pvt Ltd - India
- Sakthi Sugars Limited - India
- CIMB Investment Bank - Malaysia
- Sical Logistics Limited - India
- Jindal Steel & Power Ltd - India
- Edison Trading Spa - Italy
- Vijayanagar Sugar Pvt Ltd - India
- Oldendorff Carriers - Singapore
- Gujarat Sidhee Cement - India
- Renaissance Capital - South Africa
- Manunggal Multi Energi - Indonesia
- Madhucon Powers Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Kideco Jaya Agung - Indonesia
- Georgia Ports Authority, United States
- GMR Energy Limited - India
- Siam City Cement PLC, Thailand
- Ministry of Mines - Canada
- Parry Sugars Refinery, India
- Toyota Tsusho Corporation, Japan
- Bukit Makmur.PT - Indonesia
- Jaiprakash Power Ventures ltd
- Sree Jayajothi Cements Limited - India
- Anglo American - United Kingdom
- Borneo Indobara - Indonesia
- Australian Coal Association
- Africa Commodities Group - South Africa
- Metalloyd Limited - United Kingdom
- Romanian Commodities Exchange
- White Energy Company Limited
- Bhatia International Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Xindia Steels Limited - India
- CNBM International Corporation - China
- Coastal Gujarat Power Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Orica Mining Services - Indonesia
- Indian Energy Exchange, India
- Vizag Seaport Private Limited - India
- Coal and Oil Company - UAE
- Bharathi Cement Corporation - India
- Timah Investasi Mineral - Indoneisa
- Rashtriya Ispat Nigam Limited - India
- Orica Australia Pty. Ltd.
- Altura Mining Limited, Indonesia
- Interocean Group of Companies - India
- Aditya Birla Group - India
- Therma Luzon, Inc, Philippines
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