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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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Saturday, 18 March 23
HEDGE TO OFFSET LNG VOLATILITY, TRADERS TOLD - BALTIC EXCHANGE
A shift in imports from Asia to Europe led to significant volatility in liquefied natural gas shipping last year, prompting industry experts to urg ...
Friday, 17 March 23
INDONESIAN COAL PRICE REFERENCE UP AROUND 2.17% IN MARCH 2023
COALspot.com: Indonesian Coal Price Reference up around 2.17% in March 2023.
According to the new HBA regulation No. 41.K/MB.0 ...
Saturday, 11 March 23
MARKET INSIGHT - INTERMODAL
Uncertainty over the recovery of Chinese demand, demand destruction in Europe, as well as weather conditions will pivot the LNG market this summer. ...
Wednesday, 08 March 23
INDONESIAN COAL REFERENCE PRICE FORMULA HAS OFFICIALLY CHANGED
Indonesian Minister of Energy and Mineral Resources has officially changed the guideline for determining the benchmark price for the sale of coal c ...
Thursday, 02 March 23
INDIA'S SEABORNE CRUDE OIL IMPORTS IN 2022 INCREASED BY 11.5% YOY - BANCHERO COSTA
2022 has turned out to be a very positive year for crude oil trade, despite the surging oil prices and risks of economic recession, Banchero Costa ...
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- Asia Pacific Energy Resources Ventures Inc, Philippines
- Orica Australia Pty. Ltd.
- Dalmia Cement Bharat India
- SMC Global Power, Philippines
- Kideco Jaya Agung - Indonesia
- GMR Energy Limited - India
- Siam City Cement - Thailand
- Parliament of New Zealand
- Mjunction Services Limited - India
- Kaltim Prima Coal - Indonesia
- CIMB Investment Bank - Malaysia
- Sojitz Corporation - Japan
- Indian Oil Corporation Limited
- Tata Chemicals Ltd - India
- GVK Power & Infra Limited - India
- Ceylon Electricity Board - Sri Lanka
- McConnell Dowell - Australia
- Meenaskhi Energy Private Limited - India
- ICICI Bank Limited - India
- Coal and Oil Company - UAE
- Metalloyd Limited - United Kingdom
- Directorate General of MIneral and Coal - Indonesia
- Riau Bara Harum - Indonesia
- Baramulti Group, Indonesia
- Straits Asia Resources Limited - Singapore
- Petrochimia International Co. Ltd.- Taiwan
- Siam City Cement PLC, Thailand
- Iligan Light & Power Inc, Philippines
- Standard Chartered Bank - UAE
- Kohat Cement Company Ltd. - Pakistan
- Aditya Birla Group - India
- Mercuria Energy - Indonesia
- Singapore Mercantile Exchange
- Heidelberg Cement - Germany
- Pipit Mutiara Jaya. PT, Indonesia
- Malabar Cements Ltd - India
- Tamil Nadu electricity Board
- Ambuja Cements Ltd - India
- Kumho Petrochemical, South Korea
- Petron Corporation, Philippines
- Agrawal Coal Company - India
- Cement Manufacturers Association - India
- Goldman Sachs - Singapore
- Semirara Mining Corp, Philippines
- Eastern Coal Council - USA
- Karaikal Port Pvt Ltd - India
- Bangladesh Power Developement Board
- South Luzon Thermal Energy Corporation
- Wilmar Investment Holdings
- Bulk Trading Sa - Switzerland
- PTC India Limited - India
- Vedanta Resources Plc - India
- Kalimantan Lumbung Energi - Indonesia
- Barasentosa Lestari - Indonesia
- Makarim & Taira - Indonesia
- OPG Power Generation Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Power Finance Corporation Ltd., India
- Simpson Spence & Young - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Binh Thuan Hamico - Vietnam
- The Treasury - Australian Government
- Pendopo Energi Batubara - Indonesia
- Gujarat Sidhee Cement - India
- Orica Mining Services - Indonesia
- Energy Link Ltd, New Zealand
- Sinarmas Energy and Mining - Indonesia
- Carbofer General Trading SA - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Attock Cement Pakistan Limited
- Timah Investasi Mineral - Indoneisa
- Aboitiz Power Corporation - Philippines
- Marubeni Corporation - India
- Planning Commission, India
- Miang Besar Coal Terminal - Indonesia
- Australian Commodity Traders Exchange
- Thiess Contractors Indonesia
- European Bulk Services B.V. - Netherlands
- SMG Consultants - Indonesia
- MS Steel International - UAE
- Jindal Steel & Power Ltd - India
- Minerals Council of Australia
- Samtan Co., Ltd - South Korea
- Chamber of Mines of South Africa
- Central Java Power - Indonesia
- Borneo Indobara - Indonesia
- Australian Coal Association
- Asmin Koalindo Tuhup - Indonesia
- Oldendorff Carriers - Singapore
- GN Power Mariveles Coal Plant, Philippines
- Jaiprakash Power Ventures ltd
- Ministry of Finance - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Bayan Resources Tbk. - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Commonwealth Bank - Australia
- Thai Mozambique Logistica
- Star Paper Mills Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Georgia Ports Authority, United States
- Salva Resources Pvt Ltd - India
- International Coal Ventures Pvt Ltd - India
- Meralco Power Generation, Philippines
- Mintek Dendrill Indonesia
- Krishnapatnam Port Company Ltd. - India
- Intertek Mineral Services - Indonesia
- Bhoruka Overseas - Indonesia
- Electricity Authority, New Zealand
- Altura Mining Limited, Indonesia
- India Bulls Power Limited - India
- Latin American Coal - Colombia
- Rio Tinto Coal - Australia
- Indika Energy - Indonesia
- PowerSource Philippines DevCo
- Vijayanagar Sugar Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- Energy Development Corp, Philippines
- Central Electricity Authority - India
- Economic Council, Georgia
- Therma Luzon, Inc, Philippines
- Sarangani Energy Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- Leighton Contractors Pty Ltd - Australia
- TeaM Sual Corporation - Philippines
- Semirara Mining and Power Corporation, Philippines
- Renaissance Capital - South Africa
- Bukit Baiduri Energy - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- IHS Mccloskey Coal Group - USA
- Toyota Tsusho Corporation, Japan
- Grasim Industreis Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Port Waratah Coal Services - Australia
- Lanco Infratech Ltd - India
- Sindya Power Generating Company Private Ltd
- Madhucon Powers Ltd - India
- Indogreen Group - Indonesia
- Sical Logistics Limited - India
- Global Green Power PLC Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Formosa Plastics Group - Taiwan
- Posco Energy - South Korea
- White Energy Company Limited
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Vizag Seaport Private Limited - India
- Maheswari Brothers Coal Limited - India
- London Commodity Brokers - England
- Antam Resourcindo - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Indian Energy Exchange, India
- Videocon Industries ltd - India
- Sakthi Sugars Limited - India
- Directorate Of Revenue Intelligence - India
- Larsen & Toubro Limited - India
- Gujarat Electricity Regulatory Commission - India
- GAC Shipping (India) Pvt Ltd
- Trasteel International SA, Italy
- LBH Netherlands Bv - Netherlands
- Chettinad Cement Corporation Ltd - India
- Bharathi Cement Corporation - India
- Electricity Generating Authority of Thailand
- Kartika Selabumi Mining - Indonesia
- Bhushan Steel Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Deloitte Consulting - India
- Bukit Makmur.PT - Indonesia
- Interocean Group of Companies - India
- PNOC Exploration Corporation - Philippines
- Indonesian Coal Mining Association
- Independent Power Producers Association of India
- SN Aboitiz Power Inc, Philippines
- Uttam Galva Steels Limited - India
- Global Business Power Corporation, Philippines
- Medco Energi Mining Internasional
- Anglo American - United Kingdom
- Global Coal Blending Company Limited - Australia
- Ministry of Mines - Canada
- Ministry of Transport, Egypt
- Edison Trading Spa - Italy
- The State Trading Corporation of India Ltd
- Price Waterhouse Coopers - Russia
- Kepco SPC Power Corporation, Philippines
- CNBM International Corporation - China
- Coalindo Energy - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Indo Tambangraya Megah - Indonesia
- San Jose City I Power Corp, Philippines
- Wood Mackenzie - Singapore
- New Zealand Coal & Carbon
- Offshore Bulk Terminal Pte Ltd, Singapore
- Globalindo Alam Lestari - Indonesia
- ASAPP Information Group - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Eastern Energy - Thailand
- Ind-Barath Power Infra Limited - India
- Kobexindo Tractors - Indoneisa
- Xindia Steels Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Africa Commodities Group - South Africa
- Romanian Commodities Exchange
- Mercator Lines Limited - India
- Banpu Public Company Limited - Thailand
- Rashtriya Ispat Nigam Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Merrill Lynch Commodities Europe
- AsiaOL BioFuels Corp., Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Parry Sugars Refinery, India
- IEA Clean Coal Centre - UK
- Essar Steel Hazira Ltd - India
- Bhatia International Limited - India
- Savvy Resources Ltd - HongKong
- The University of Queensland
- VISA Power Limited - India
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