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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, 11 April 23
OIL RISES ON CHINA STIMULUS EXPECTATIONS, WEAKER DOLLAR - REUTERS
Oil prices rose on Tuesday on expectations of potential economic stimulus by China, healthy demand in the rest of Asia and a drop in U.S. crude sto ...
Sunday, 09 April 23
CHINA’S BUSINESS INCOME REBOUND POINTS TO IMPROVING ECONOMY: OFFICIAL - XINHUA
Chinese businesses have posted a strong rebound in sales revenue since the beginning of this year in the latest signal of an improving economy.
...
Sunday, 09 April 23
COAL INDIA TO BOOST SUPPLIES TO INDUSTRIES AS UTILITIES’ INVENTORIES RISE - REUTERS
Coal India Ltd will increase supplies to industries, the world’s largest coal miner said on Wednesday as fuel inventories at utilities run by ...
Thursday, 06 April 23
MARKET INSIGHT - INTERMODAL
LNG Current Supply/Demand Dynamics
This year, LNG supply will likely exceed demand, so prices will need to decline to levels that will encourag ...
Sunday, 26 March 23
EUROPE’S RUSH TO LNG COULD TURN INTO 'WORLD’S MOST EXPENSIVE AND UNNECESSARY INSURANCE POLICY'- CNBC
Europe’s rapid buildout of liquefied natural gas infrastructure is on track to far exceed demand by the end of the decade, according to new r ...
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- Larsen & Toubro Limited - India
- Australian Commodity Traders Exchange
- Port Waratah Coal Services - Australia
- Ministry of Transport, Egypt
- Karbindo Abesyapradhi - Indoneisa
- New Zealand Coal & Carbon
- Holcim Trading Pte Ltd - Singapore
- Commonwealth Bank - Australia
- Salva Resources Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- Siam City Cement - Thailand
- Metalloyd Limited - United Kingdom
- Sojitz Corporation - Japan
- Standard Chartered Bank - UAE
- Therma Luzon, Inc, Philippines
- LBH Netherlands Bv - Netherlands
- European Bulk Services B.V. - Netherlands
- Pipit Mutiara Jaya. PT, Indonesia
- Economic Council, Georgia
- Power Finance Corporation Ltd., India
- ICICI Bank Limited - India
- GAC Shipping (India) Pvt Ltd
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- TNB Fuel Sdn Bhd - Malaysia
- Tamil Nadu electricity Board
- Meralco Power Generation, Philippines
- Barasentosa Lestari - Indonesia
- GMR Energy Limited - India
- SN Aboitiz Power Inc, Philippines
- Trasteel International SA, Italy
- Ministry of Finance - Indonesia
- Star Paper Mills Limited - India
- Savvy Resources Ltd - HongKong
- GVK Power & Infra Limited - India
- Manunggal Multi Energi - Indonesia
- Tata Chemicals Ltd - India
- Makarim & Taira - Indonesia
- Deloitte Consulting - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- OPG Power Generation Pvt Ltd - India
- Kumho Petrochemical, South Korea
- Rashtriya Ispat Nigam Limited - India
- Antam Resourcindo - Indonesia
- Sarangani Energy Corporation, Philippines
- Ambuja Cements Ltd - India
- Madhucon Powers Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Interocean Group of Companies - India
- GN Power Mariveles Coal Plant, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Australian Coal Association
- Bukit Baiduri Energy - Indonesia
- Parliament of New Zealand
- Petrochimia International Co. Ltd.- Taiwan
- IHS Mccloskey Coal Group - USA
- White Energy Company Limited
- Vijayanagar Sugar Pvt Ltd - India
- Global Business Power Corporation, Philippines
- Thiess Contractors Indonesia
- Alfred C Toepfer International GmbH - Germany
- Renaissance Capital - South Africa
- Bangladesh Power Developement Board
- Vizag Seaport Private Limited - India
- Borneo Indobara - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Bharathi Cement Corporation - India
- Minerals Council of Australia
- ASAPP Information Group - India
- Toyota Tsusho Corporation, Japan
- Electricity Authority, New Zealand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Semirara Mining Corp, Philippines
- Kaltim Prima Coal - Indonesia
- Coal and Oil Company - UAE
- Orica Mining Services - Indonesia
- Mercator Lines Limited - India
- Petron Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Bhatia International Limited - India
- Global Green Power PLC Corporation, Philippines
- Semirara Mining and Power Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Sical Logistics Limited - India
- Banpu Public Company Limited - Thailand
- MS Steel International - UAE
- Global Coal Blending Company Limited - Australia
- Baramulti Group, Indonesia
- Edison Trading Spa - Italy
- Heidelberg Cement - Germany
- Mintek Dendrill Indonesia
- Medco Energi Mining Internasional
- Essar Steel Hazira Ltd - India
- Kobexindo Tractors - Indoneisa
- Marubeni Corporation - India
- Africa Commodities Group - South Africa
- Merrill Lynch Commodities Europe
- Iligan Light & Power Inc, Philippines
- Latin American Coal - Colombia
- Indonesian Coal Mining Association
- Coalindo Energy - Indonesia
- Goldman Sachs - Singapore
- Kepco SPC Power Corporation, Philippines
- Vedanta Resources Plc - India
- International Coal Ventures Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- Aditya Birla Group - India
- Maheswari Brothers Coal Limited - India
- Central Electricity Authority - India
- SMC Global Power, Philippines
- Intertek Mineral Services - Indonesia
- London Commodity Brokers - England
- Mercuria Energy - Indonesia
- The University of Queensland
- Singapore Mercantile Exchange
- Malabar Cements Ltd - India
- Globalindo Alam Lestari - Indonesia
- PTC India Limited - India
- Kartika Selabumi Mining - Indonesia
- Chamber of Mines of South Africa
- Indogreen Group - Indonesia
- Bukit Makmur.PT - Indonesia
- Gujarat Sidhee Cement - India
- Uttam Galva Steels Limited - India
- The Treasury - Australian Government
- Directorate General of MIneral and Coal - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Karaikal Port Pvt Ltd - India
- Indian Energy Exchange, India
- Bayan Resources Tbk. - Indonesia
- Simpson Spence & Young - Indonesia
- Indo Tambangraya Megah - Indonesia
- Videocon Industries ltd - India
- CIMB Investment Bank - Malaysia
- Maharashtra Electricity Regulatory Commission - India
- Siam City Cement PLC, Thailand
- VISA Power Limited - India
- Xindia Steels Limited - India
- Wood Mackenzie - Singapore
- Aboitiz Power Corporation - Philippines
- Cigading International Bulk Terminal - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Miang Besar Coal Terminal - Indonesia
- Straits Asia Resources Limited - Singapore
- Jindal Steel & Power Ltd - India
- IEA Clean Coal Centre - UK
- Grasim Industreis Ltd - India
- Thai Mozambique Logistica
- Anglo American - United Kingdom
- Indian Oil Corporation Limited
- PNOC Exploration Corporation - Philippines
- Ceylon Electricity Board - Sri Lanka
- Altura Mining Limited, Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Formosa Plastics Group - Taiwan
- Wilmar Investment Holdings
- Sakthi Sugars Limited - India
- Agrawal Coal Company - India
- Indika Energy - Indonesia
- Directorate Of Revenue Intelligence - India
- Planning Commission, India
- Dalmia Cement Bharat India
- Billiton Holdings Pty Ltd - Australia
- Gujarat Electricity Regulatory Commission - India
- CNBM International Corporation - China
- Attock Cement Pakistan Limited
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Pendopo Energi Batubara - Indonesia
- Electricity Generating Authority of Thailand
- SMG Consultants - Indonesia
- Samtan Co., Ltd - South Korea
- Bukit Asam (Persero) Tbk - Indonesia
- Bhoruka Overseas - Indonesia
- The State Trading Corporation of India Ltd
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sindya Power Generating Company Private Ltd
- Rio Tinto Coal - Australia
- PowerSource Philippines DevCo
- Ministry of Mines - Canada
- Chettinad Cement Corporation Ltd - India
- Kideco Jaya Agung - Indonesia
- Sree Jayajothi Cements Limited - India
- Romanian Commodities Exchange
- Energy Link Ltd, New Zealand
- Bhushan Steel Limited - India
- Krishnapatnam Port Company Ltd. - India
- Posco Energy - South Korea
- Carbofer General Trading SA - India
- Eastern Energy - Thailand
- Bahari Cakrawala Sebuku - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- San Jose City I Power Corp, Philippines
- Energy Development Corp, Philippines
- Independent Power Producers Association of India
- McConnell Dowell - Australia
- TeaM Sual Corporation - Philippines
- Cement Manufacturers Association - India
- Central Java Power - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Parry Sugars Refinery, India
- Bulk Trading Sa - Switzerland
- Georgia Ports Authority, United States
- Mjunction Services Limited - India
- Riau Bara Harum - Indonesia
- South Luzon Thermal Energy Corporation
- India Bulls Power Limited - India
- Ind-Barath Power Infra Limited - India
- Orica Australia Pty. Ltd.
- Jaiprakash Power Ventures ltd
- Jorong Barutama Greston.PT - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Timah Investasi Mineral - Indoneisa
- Coastal Gujarat Power Limited - India
- Lanco Infratech Ltd - India
- Oldendorff Carriers - Singapore
- Eastern Coal Council - USA
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