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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, 22 March 23
MARKET INSIGHT - INTERMODAL
The crude tanker market continues to gather momentum as we head towards the end of 1Q2023, against a backdrop of strong U.S. exports paired with a ...
Wednesday, 22 March 23
WILL LOWER GAS PRICES SPARK SWITCHING IN EUROPE AND ASIA?
Record high prices devastated demand for gas and LNG across Asia and Europe last year. But with prices falling, companies are starting to re-evalua ...
Monday, 20 March 23
NTPC MULLS 5.4 MILLION TONNES COAL IMPORT IN FIRST HALF OF 2023-24: PTI
State-run power giant NTPC is planning to import around 5.4 million tonnes of coal to meet the supply shortage during the first half 2023-24 fiscal ...
Monday, 20 March 23
S. AFRICA’S EXXARO RESOURCES SAYS COAL PRICES COOLING OFF - REUTERS
South Africa’s Exxaro Resources on Thursday posted a 28% jump in 2022 profit after seeing average coal prices surge more than 150%, but warne ...
Saturday, 18 March 23
RUSSIAN LNG EXPORTS TO EUROPE REMAIN HIGH - VESSELS VALUE
Russian LNG exports to Europe remained at very high levels in February at 3.6 million CBM, following a 13 month high in January of 4.1 million CBM. ...
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- Global Business Power Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Intertek Mineral Services - Indonesia
- Indian Energy Exchange, India
- PTC India Limited - India
- Singapore Mercantile Exchange
- Sakthi Sugars Limited - India
- Attock Cement Pakistan Limited
- Neyveli Lignite Corporation Ltd, - India
- IHS Mccloskey Coal Group - USA
- Aditya Birla Group - India
- Toyota Tsusho Corporation, Japan
- Vedanta Resources Plc - India
- Uttam Galva Steels Limited - India
- New Zealand Coal & Carbon
- Krishnapatnam Port Company Ltd. - India
- Bhoruka Overseas - Indonesia
- Sindya Power Generating Company Private Ltd
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Pipit Mutiara Jaya. PT, Indonesia
- CNBM International Corporation - China
- Chettinad Cement Corporation Ltd - India
- Australian Commodity Traders Exchange
- Videocon Industries ltd - India
- Wood Mackenzie - Singapore
- Kaltim Prima Coal - Indonesia
- Kumho Petrochemical, South Korea
- Trasteel International SA, Italy
- Anglo American - United Kingdom
- Mercator Lines Limited - India
- Mintek Dendrill Indonesia
- Binh Thuan Hamico - Vietnam
- Thai Mozambique Logistica
- Sinarmas Energy and Mining - Indonesia
- Global Coal Blending Company Limited - Australia
- Billiton Holdings Pty Ltd - Australia
- Baramulti Group, Indonesia
- Commonwealth Bank - Australia
- Vizag Seaport Private Limited - India
- Ambuja Cements Ltd - India
- Ministry of Transport, Egypt
- GVK Power & Infra Limited - India
- Grasim Industreis Ltd - India
- Agrawal Coal Company - India
- Bharathi Cement Corporation - India
- Therma Luzon, Inc, Philippines
- Mercuria Energy - Indonesia
- Altura Mining Limited, Indonesia
- Alfred C Toepfer International GmbH - Germany
- Latin American Coal - Colombia
- Port Waratah Coal Services - Australia
- Meralco Power Generation, Philippines
- GMR Energy Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- SMG Consultants - Indonesia
- Bukit Baiduri Energy - Indonesia
- Madhucon Powers Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Central Java Power - Indonesia
- Xindia Steels Limited - India
- Simpson Spence & Young - Indonesia
- The State Trading Corporation of India Ltd
- Offshore Bulk Terminal Pte Ltd, Singapore
- CIMB Investment Bank - Malaysia
- Gujarat Electricity Regulatory Commission - India
- Oldendorff Carriers - Singapore
- Africa Commodities Group - South Africa
- European Bulk Services B.V. - Netherlands
- Interocean Group of Companies - India
- VISA Power Limited - India
- IEA Clean Coal Centre - UK
- Tamil Nadu electricity Board
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Makarim & Taira - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- GAC Shipping (India) Pvt Ltd
- MS Steel International - UAE
- Electricity Generating Authority of Thailand
- Kideco Jaya Agung - Indonesia
- Banpu Public Company Limited - Thailand
- Asmin Koalindo Tuhup - Indonesia
- South Luzon Thermal Energy Corporation
- Vijayanagar Sugar Pvt Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Goldman Sachs - Singapore
- Standard Chartered Bank - UAE
- Marubeni Corporation - India
- Indonesian Coal Mining Association
- Semirara Mining and Power Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Global Green Power PLC Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- Karaikal Port Pvt Ltd - India
- Larsen & Toubro Limited - India
- International Coal Ventures Pvt Ltd - India
- Sojitz Corporation - Japan
- Riau Bara Harum - Indonesia
- Independent Power Producers Association of India
- Renaissance Capital - South Africa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Chamber of Mines of South Africa
- Bulk Trading Sa - Switzerland
- Medco Energi Mining Internasional
- PNOC Exploration Corporation - Philippines
- Electricity Authority, New Zealand
- McConnell Dowell - Australia
- SMC Global Power, Philippines
- Planning Commission, India
- PetroVietnam Power Coal Import and Supply Company
- Carbofer General Trading SA - India
- Iligan Light & Power Inc, Philippines
- PowerSource Philippines DevCo
- San Jose City I Power Corp, Philippines
- Tata Chemicals Ltd - India
- Ministry of Mines - Canada
- OPG Power Generation Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Sree Jayajothi Cements Limited - India
- Orica Mining Services - Indonesia
- Parliament of New Zealand
- Mjunction Services Limited - India
- Bhatia International Limited - India
- Kapuas Tunggal Persada - Indonesia
- Central Electricity Authority - India
- The University of Queensland
- Kepco SPC Power Corporation, Philippines
- Siam City Cement - Thailand
- Indian Oil Corporation Limited
- Romanian Commodities Exchange
- Sarangani Energy Corporation, Philippines
- Jindal Steel & Power Ltd - India
- Ind-Barath Power Infra Limited - India
- Kobexindo Tractors - Indoneisa
- Metalloyd Limited - United Kingdom
- Star Paper Mills Limited - India
- Timah Investasi Mineral - Indoneisa
- The Treasury - Australian Government
- Jorong Barutama Greston.PT - Indonesia
- Siam City Cement PLC, Thailand
- Meenaskhi Energy Private Limited - India
- Dalmia Cement Bharat India
- Wilmar Investment Holdings
- Directorate Of Revenue Intelligence - India
- Energy Link Ltd, New Zealand
- Leighton Contractors Pty Ltd - Australia
- SN Aboitiz Power Inc, Philippines
- Bhushan Steel Limited - India
- Orica Australia Pty. Ltd.
- Thiess Contractors Indonesia
- Parry Sugars Refinery, India
- Formosa Plastics Group - Taiwan
- Pendopo Energi Batubara - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Essar Steel Hazira Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Savvy Resources Ltd - HongKong
- Ministry of Finance - Indonesia
- Merrill Lynch Commodities Europe
- Deloitte Consulting - India
- ASAPP Information Group - India
- Gujarat Sidhee Cement - India
- Price Waterhouse Coopers - Russia
- Aboitiz Power Corporation - Philippines
- Georgia Ports Authority, United States
- Salva Resources Pvt Ltd - India
- Lanco Infratech Ltd - India
- Bayan Resources Tbk. - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Eastern Energy - Thailand
- White Energy Company Limited
- Barasentosa Lestari - Indonesia
- Kartika Selabumi Mining - Indonesia
- LBH Netherlands Bv - Netherlands
- Malabar Cements Ltd - India
- Rio Tinto Coal - Australia
- Minerals Council of Australia
- AsiaOL BioFuels Corp., Philippines
- Manunggal Multi Energi - Indonesia
- Jaiprakash Power Ventures ltd
- Antam Resourcindo - Indonesia
- Bangladesh Power Developement Board
- Heidelberg Cement - Germany
- Australian Coal Association
- TeaM Sual Corporation - Philippines
- Posco Energy - South Korea
- Gujarat Mineral Development Corp Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Coal and Oil Company - UAE
- Edison Trading Spa - Italy
- Samtan Co., Ltd - South Korea
- Coalindo Energy - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Petron Corporation, Philippines
- Indogreen Group - Indonesia
- Coastal Gujarat Power Limited - India
- Semirara Mining Corp, Philippines
- Maheswari Brothers Coal Limited - India
- Borneo Indobara - Indonesia
- India Bulls Power Limited - India
- Power Finance Corporation Ltd., India
- Energy Development Corp, Philippines
- Cement Manufacturers Association - India
- Straits Asia Resources Limited - Singapore
- London Commodity Brokers - England
- Ceylon Electricity Board - Sri Lanka
- Miang Besar Coal Terminal - Indonesia
- Eastern Coal Council - USA
- Globalindo Alam Lestari - Indonesia
- ICICI Bank Limited - India
- Economic Council, Georgia
- Kalimantan Lumbung Energi - Indonesia
- Indo Tambangraya Megah - Indonesia
- Indika Energy - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Sical Logistics Limited - India
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