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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, 26 February 23
MAWANI AND JEDDAH CHAMBER SIGN AN AGREEMENT TO BUILD INTEGRATED LOGISTICS PARK
Press Release: The Saudi Ports Authority (Mawani) and Jeddah Chamber of Commerce and Industry have today inked an agreement to set up an integrated ...
Saturday, 25 February 23
INDONESIA IS STILL BY FAR THE TOP SUPPLIER OF COAL TO CHINA - BANCHERO COSTA
After a slow start in the first quarter, global coal trade has really picked up pace last year, and is now fully back to pre-Covid levels, said ban ...
Wednesday, 22 February 23
MARKET INSIGHT - INTERMODAL
The short-term outlook of the global soybean market is currently pivoted by a combination of weather patterns that are affecting the harvest progre ...
Saturday, 18 February 23
OIL UNLIKELY TO BREAK ABOVE $100/BBL THIS YEAR, J.P.MORGAN SAYS –- REUTERS
Brent oil prices are unlikely to breach the $100 a barrel level this year, barring any significant geopolitical drivers, with OPEC+ potentially add ...
Saturday, 18 February 23
CHINA'S COAL PRICES FALL TO 1 YR-LOW, CLOUDING DEMAND AND IMPORT OUTLOOK - REUTERS
China’s thermal coal prices hit their lowest levels in a year this week on rising inventories as domestic mine production is recovering faste ...
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- Ceylon Electricity Board - Sri Lanka
- New Zealand Coal & Carbon
- International Coal Ventures Pvt Ltd - India
- Edison Trading Spa - Italy
- Asmin Koalindo Tuhup - Indonesia
- Mjunction Services Limited - India
- Agrawal Coal Company - India
- Central Electricity Authority - India
- CNBM International Corporation - China
- TeaM Sual Corporation - Philippines
- Ind-Barath Power Infra Limited - India
- Indian Oil Corporation Limited
- Neyveli Lignite Corporation Ltd, - India
- Sakthi Sugars Limited - India
- Mercator Lines Limited - India
- Holcim Trading Pte Ltd - Singapore
- Formosa Plastics Group - Taiwan
- Straits Asia Resources Limited - Singapore
- PNOC Exploration Corporation - Philippines
- Uttam Galva Steels Limited - India
- Kohat Cement Company Ltd. - Pakistan
- GAC Shipping (India) Pvt Ltd
- Rashtriya Ispat Nigam Limited - India
- Planning Commission, India
- San Jose City I Power Corp, Philippines
- Metalloyd Limited - United Kingdom
- GMR Energy Limited - India
- Heidelberg Cement - Germany
- Meenaskhi Energy Private Limited - India
- Global Coal Blending Company Limited - Australia
- OPG Power Generation Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- Goldman Sachs - Singapore
- Interocean Group of Companies - India
- Dalmia Cement Bharat India
- Coastal Gujarat Power Limited - India
- Cigading International Bulk Terminal - Indonesia
- Toyota Tsusho Corporation, Japan
- Globalindo Alam Lestari - Indonesia
- Intertek Mineral Services - Indonesia
- Georgia Ports Authority, United States
- Posco Energy - South Korea
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kalimantan Lumbung Energi - Indonesia
- Kumho Petrochemical, South Korea
- Price Waterhouse Coopers - Russia
- Timah Investasi Mineral - Indoneisa
- Larsen & Toubro Limited - India
- Latin American Coal - Colombia
- Energy Development Corp, Philippines
- Aboitiz Power Corporation - Philippines
- Renaissance Capital - South Africa
- Chamber of Mines of South Africa
- Australian Commodity Traders Exchange
- Medco Energi Mining Internasional
- Jorong Barutama Greston.PT - Indonesia
- Meralco Power Generation, Philippines
- Mintek Dendrill Indonesia
- Bayan Resources Tbk. - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Maheswari Brothers Coal Limited - India
- Wilmar Investment Holdings
- SMC Global Power, Philippines
- Bharathi Cement Corporation - India
- Riau Bara Harum - Indonesia
- LBH Netherlands Bv - Netherlands
- Ambuja Cements Ltd - India
- Independent Power Producers Association of India
- Australian Coal Association
- IEA Clean Coal Centre - UK
- South Luzon Thermal Energy Corporation
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Eastern Coal Council - USA
- London Commodity Brokers - England
- Malabar Cements Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Siam City Cement - Thailand
- Grasim Industreis Ltd - India
- Jindal Steel & Power Ltd - India
- White Energy Company Limited
- Pendopo Energi Batubara - Indonesia
- IHS Mccloskey Coal Group - USA
- Kideco Jaya Agung - Indonesia
- Thai Mozambique Logistica
- Bhoruka Overseas - Indonesia
- VISA Power Limited - India
- Semirara Mining Corp, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Deloitte Consulting - India
- GN Power Mariveles Coal Plant, Philippines
- Merrill Lynch Commodities Europe
- Therma Luzon, Inc, Philippines
- Global Green Power PLC Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Port Waratah Coal Services - Australia
- Commonwealth Bank - Australia
- Bulk Trading Sa - Switzerland
- Tata Chemicals Ltd - India
- Directorate Of Revenue Intelligence - India
- Borneo Indobara - Indonesia
- Indogreen Group - Indonesia
- Romanian Commodities Exchange
- PetroVietnam Power Coal Import and Supply Company
- Singapore Mercantile Exchange
- Mercuria Energy - Indonesia
- The State Trading Corporation of India Ltd
- Kepco SPC Power Corporation, Philippines
- Baramulti Group, Indonesia
- Bhushan Steel Limited - India
- Minerals Council of Australia
- Trasteel International SA, Italy
- Sindya Power Generating Company Private Ltd
- Thiess Contractors Indonesia
- Indonesian Coal Mining Association
- Xindia Steels Limited - India
- Global Business Power Corporation, Philippines
- Vizag Seaport Private Limited - India
- European Bulk Services B.V. - Netherlands
- McConnell Dowell - Australia
- Gujarat Mineral Development Corp Ltd - India
- Sojitz Corporation - Japan
- Africa Commodities Group - South Africa
- Bangladesh Power Developement Board
- Vedanta Resources Plc - India
- Indian Energy Exchange, India
- Makarim & Taira - Indonesia
- Wood Mackenzie - Singapore
- PTC India Limited - India
- Chettinad Cement Corporation Ltd - India
- Aditya Birla Group - India
- Energy Link Ltd, New Zealand
- Kapuas Tunggal Persada - Indonesia
- Manunggal Multi Energi - Indonesia
- Petron Corporation, Philippines
- Economic Council, Georgia
- Orica Mining Services - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Barasentosa Lestari - Indonesia
- Binh Thuan Hamico - Vietnam
- Coalindo Energy - Indonesia
- Parry Sugars Refinery, India
- Directorate General of MIneral and Coal - Indonesia
- Standard Chartered Bank - UAE
- Coal and Oil Company - UAE
- Alfred C Toepfer International GmbH - Germany
- Vijayanagar Sugar Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- GVK Power & Infra Limited - India
- Power Finance Corporation Ltd., India
- SMG Consultants - Indonesia
- Banpu Public Company Limited - Thailand
- Sree Jayajothi Cements Limited - India
- Altura Mining Limited, Indonesia
- Karaikal Port Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Krishnapatnam Port Company Ltd. - India
- Electricity Generating Authority of Thailand
- Salva Resources Pvt Ltd - India
- ICICI Bank Limited - India
- Miang Besar Coal Terminal - Indonesia
- CIMB Investment Bank - Malaysia
- Semirara Mining and Power Corporation, Philippines
- Ministry of Finance - Indonesia
- Samtan Co., Ltd - South Korea
- Gujarat Sidhee Cement - India
- MS Steel International - UAE
- Tamil Nadu electricity Board
- Rio Tinto Coal - Australia
- Eastern Energy - Thailand
- Siam City Cement PLC, Thailand
- Marubeni Corporation - India
- Karbindo Abesyapradhi - Indoneisa
- The University of Queensland
- Savvy Resources Ltd - HongKong
- Madhucon Powers Ltd - India
- Star Paper Mills Limited - India
- Iligan Light & Power Inc, Philippines
- Attock Cement Pakistan Limited
- Videocon Industries ltd - India
- Leighton Contractors Pty Ltd - Australia
- Essar Steel Hazira Ltd - India
- Anglo American - United Kingdom
- Kaltim Prima Coal - Indonesia
- Bhatia International Limited - India
- Bukit Baiduri Energy - Indonesia
- Ministry of Mines - Canada
- Electricity Authority, New Zealand
- PowerSource Philippines DevCo
- ASAPP Information Group - India
- Kartika Selabumi Mining - Indonesia
- Indika Energy - Indonesia
- Cement Manufacturers Association - India
- The Treasury - Australian Government
- Carbofer General Trading SA - India
- Indo Tambangraya Megah - Indonesia
- Oldendorff Carriers - Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Orica Australia Pty. Ltd.
- India Bulls Power Limited - India
- Antam Resourcindo - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- AsiaOL BioFuels Corp., Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Kobexindo Tractors - Indoneisa
- Petrochimia International Co. Ltd.- Taiwan
- Ministry of Transport, Egypt
- Pipit Mutiara Jaya. PT, Indonesia
- Lanco Infratech Ltd - India
- Sarangani Energy Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- Sical Logistics Limited - India
- SN Aboitiz Power Inc, Philippines
- Parliament of New Zealand
- Central Java Power - Indonesia
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