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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, 17 January 23
CHINA'S SHANXI TARGETS 2023 COAL PRODUCTION OF NEARLY 1.37B TONS - XINHUA
China’s coal-rich province of Shanxi has set a coal production target of nearly 1.37 billion metric tons for 2023, according to a government ...
Tuesday, 17 January 23
MARKET INSIGHT - INTERMODAL
Rumor has it that the New Year has come, to set the pace in, for Russia to continue hostilities against Ukraine. Ten months on the go, into Russia& ...
Tuesday, 17 January 23
INDONESIA IS ACCOUNTING FOR 32.3% OF THE GLOBAL SEABORNE COAL MARKET IN 2022 - BENCHERO 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, Benchero ...
Tuesday, 10 January 23
INDONESIAN HBA IS SEEING A SPIKE IN JANUARY 2023 INSTEAD OF A SIGNIFICANT FALL IN DECEMBER 2022
COALspot.com: Indonesian Coal Price Reference up 8.43% in January 2023.
HBA is seeing a dramatic spike in January 2023 i ...
Sunday, 08 January 23
INDIAN COAL POWER PLANTS SHOULD BE COMPENSATED FOR 2022 FORCED GENERATION – REGULATOR : REUTERS
Indian power plants that rely on imported coal should be fully compensated when forced to supply electricity, the country’s power regulator s ...
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- PowerSource Philippines DevCo
- Ceylon Electricity Board - Sri Lanka
- GVK Power & Infra Limited - India
- GMR Energy Limited - India
- Global Business Power Corporation, Philippines
- Marubeni Corporation - India
- Orica Mining Services - Indonesia
- Cigading International Bulk Terminal - Indonesia
- ICICI Bank Limited - India
- Orica Australia Pty. Ltd.
- OPG Power Generation Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- San Jose City I Power Corp, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Vedanta Resources Plc - India
- Global Green Power PLC Corporation, Philippines
- Independent Power Producers Association of India
- Semirara Mining Corp, Philippines
- Global Coal Blending Company Limited - Australia
- Cement Manufacturers Association - India
- Directorate Of Revenue Intelligence - India
- Xindia Steels Limited - India
- Wood Mackenzie - Singapore
- Ministry of Finance - Indonesia
- Central Java Power - Indonesia
- Edison Trading Spa - Italy
- Mercuria Energy - Indonesia
- Australian Commodity Traders Exchange
- Straits Asia Resources Limited - Singapore
- Leighton Contractors Pty Ltd - Australia
- Commonwealth Bank - Australia
- Manunggal Multi Energi - Indonesia
- Romanian Commodities Exchange
- PetroVietnam Power Coal Import and Supply Company
- Savvy Resources Ltd - HongKong
- MS Steel International - UAE
- Timah Investasi Mineral - Indoneisa
- Bulk Trading Sa - Switzerland
- Indogreen Group - Indonesia
- Central Electricity Authority - India
- CNBM International Corporation - China
- TeaM Sual Corporation - Philippines
- Tamil Nadu electricity Board
- Bhushan Steel Limited - India
- Medco Energi Mining Internasional
- Petron Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Ambuja Cements Ltd - India
- Attock Cement Pakistan Limited
- Kumho Petrochemical, South Korea
- Bayan Resources Tbk. - Indonesia
- Power Finance Corporation Ltd., India
- Georgia Ports Authority, United States
- Dalmia Cement Bharat India
- Gujarat Sidhee Cement - India
- Larsen & Toubro Limited - India
- Parliament of New Zealand
- Anglo American - United Kingdom
- Meenaskhi Energy Private Limited - India
- SN Aboitiz Power Inc, Philippines
- Coastal Gujarat Power Limited - India
- Tata Chemicals Ltd - India
- Wilmar Investment Holdings
- Deloitte Consulting - India
- Kepco SPC Power Corporation, Philippines
- Simpson Spence & Young - Indonesia
- IHS Mccloskey Coal Group - USA
- Agrawal Coal Company - India
- Port Waratah Coal Services - Australia
- New Zealand Coal & Carbon
- Aditya Birla Group - India
- Indian Oil Corporation Limited
- Maharashtra Electricity Regulatory Commission - India
- AsiaOL BioFuels Corp., Philippines
- Sical Logistics Limited - India
- Pendopo Energi Batubara - Indonesia
- Sojitz Corporation - Japan
- LBH Netherlands Bv - Netherlands
- PTC India Limited - India
- Energy Development Corp, Philippines
- Miang Besar Coal Terminal - Indonesia
- Rio Tinto Coal - Australia
- Chettinad Cement Corporation Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- Renaissance Capital - South Africa
- GN Power Mariveles Coal Plant, Philippines
- Bhatia International Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Ministry of Transport, Egypt
- SMG Consultants - Indonesia
- Africa Commodities Group - South Africa
- Formosa Plastics Group - Taiwan
- Price Waterhouse Coopers - Russia
- Jaiprakash Power Ventures ltd
- Karaikal Port Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Vizag Seaport Private Limited - India
- Siam City Cement PLC, Thailand
- Semirara Mining and Power Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- Bhoruka Overseas - Indonesia
- Uttam Galva Steels Limited - India
- Sakthi Sugars Limited - India
- Iligan Light & Power Inc, Philippines
- The Treasury - Australian Government
- Aboitiz Power Corporation - Philippines
- McConnell Dowell - Australia
- Mjunction Services Limited - India
- Binh Thuan Hamico - Vietnam
- Singapore Mercantile Exchange
- Maheswari Brothers Coal Limited - India
- London Commodity Brokers - England
- Riau Bara Harum - Indonesia
- Samtan Co., Ltd - South Korea
- Mercator Lines Limited - India
- Standard Chartered Bank - UAE
- Energy Link Ltd, New Zealand
- ASAPP Information Group - India
- Star Paper Mills Limited - India
- Eastern Coal Council - USA
- Planning Commission, India
- Sindya Power Generating Company Private Ltd
- Economic Council, Georgia
- Kapuas Tunggal Persada - Indonesia
- Mintek Dendrill Indonesia
- Holcim Trading Pte Ltd - Singapore
- GAC Shipping (India) Pvt Ltd
- Electricity Authority, New Zealand
- Carbofer General Trading SA - India
- India Bulls Power Limited - India
- Bukit Makmur.PT - Indonesia
- Chamber of Mines of South Africa
- Electricity Generating Authority of Thailand
- Billiton Holdings Pty Ltd - Australia
- Asmin Koalindo Tuhup - Indonesia
- Toyota Tsusho Corporation, Japan
- Sree Jayajothi Cements Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- SMC Global Power, Philippines
- Meralco Power Generation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Altura Mining Limited, Indonesia
- Bangladesh Power Developement Board
- Rashtriya Ispat Nigam Limited - India
- Therma Luzon, Inc, Philippines
- Coalindo Energy - Indonesia
- Ind-Barath Power Infra Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Oldendorff Carriers - Singapore
- Trasteel International SA, Italy
- Thai Mozambique Logistica
- PNOC Exploration Corporation - Philippines
- Latin American Coal - Colombia
- Pipit Mutiara Jaya. PT, Indonesia
- Metalloyd Limited - United Kingdom
- Directorate General of MIneral and Coal - Indonesia
- Bukit Baiduri Energy - Indonesia
- Minerals Council of Australia
- Jindal Steel & Power Ltd - India
- IEA Clean Coal Centre - UK
- VISA Power Limited - India
- Videocon Industries ltd - India
- Indika Energy - Indonesia
- Coal and Oil Company - UAE
- Heidelberg Cement - Germany
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Gujarat Electricity Regulatory Commission - India
- Kaltim Prima Coal - Indonesia
- Banpu Public Company Limited - Thailand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kalimantan Lumbung Energi - Indonesia
- Salva Resources Pvt Ltd - India
- Siam City Cement - Thailand
- Australian Coal Association
- Alfred C Toepfer International GmbH - Germany
- Borneo Indobara - Indonesia
- White Energy Company Limited
- Baramulti Group, Indonesia
- Sarangani Energy Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- Bharathi Cement Corporation - India
- International Coal Ventures Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- The University of Queensland
- CIMB Investment Bank - Malaysia
- Makarim & Taira - Indonesia
- Madhucon Powers Ltd - India
- Posco Energy - South Korea
- Indian Energy Exchange, India
- Petrochimia International Co. Ltd.- Taiwan
- The State Trading Corporation of India Ltd
- Intertek Mineral Services - Indonesia
- Antam Resourcindo - Indonesia
- Interocean Group of Companies - India
- Indonesian Coal Mining Association
- Sinarmas Energy and Mining - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- Parry Sugars Refinery, India
- TNB Fuel Sdn Bhd - Malaysia
- South Luzon Thermal Energy Corporation
- Barasentosa Lestari - Indonesia
- Malabar Cements Ltd - India
- Merrill Lynch Commodities Europe
- Bank of Tokyo Mitsubishi UFJ Ltd
- Goldman Sachs - Singapore
- Jorong Barutama Greston.PT - Indonesia
- Ministry of Mines - Canada
- Eastern Energy - Thailand
- Thiess Contractors Indonesia
- Lanco Infratech Ltd - India
- Grasim Industreis Ltd - India
- Essar Steel Hazira Ltd - India
- Kideco Jaya Agung - Indonesia
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