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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, 08 January 23
ELEVATED COAL PRICE A DRAG ON MARGINS OF DOMESTIC BASE METAL PLAYERS: ICRA
The increased price of coal continue to be a drag on the margin of domestic base metal players with no immediate relief in sight, rating agency ICR ...
Monday, 02 January 23
CHINA’S COAL CONSUMPTION TO PEAK BY 2035: REPORT - REUTERS
China’s primary energy consumption is likely to peak at nearly 6.03 billion tonnes of standard coal between 2030 and 2035, refining giant Chi ...
Thursday, 29 December 22
INDIA'S COAL DEMAND LIKELY TO PEAK BETWEEN 2030-2035: MINISTER - ANI
The demand for coal in India will continue and is likely to peak between 2030-2035, Union Minister of Coal, Mines, and Parliamentary Affairs Pralha ...
Thursday, 29 December 22
RIO TINTO AND PARTNERS COULD RECEIVE AS MUCH AS $450M IN GOVERNMENT COMPENSATION FOR COAL PRICE CAP - THE GUARDIAN
Compensation payments for the Gladstone power plant remain the sticking point in the federal government’s coal price cap compensation negotia ...
Wednesday, 28 December 22
MARKET INSIGHT - INTERMODAL
The United Nations Conference on Trade and Development (UNCTAD) published a Global Trade Update on December 13th highlighting that global trade wou ...
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- Metalloyd Limited - United Kingdom
- Indian Energy Exchange, India
- Kideco Jaya Agung - Indonesia
- Orica Australia Pty. Ltd.
- Baramulti Group, Indonesia
- Bulk Trading Sa - Switzerland
- Therma Luzon, Inc, Philippines
- Aboitiz Power Corporation - Philippines
- Billiton Holdings Pty Ltd - Australia
- Coal and Oil Company - UAE
- Formosa Plastics Group - Taiwan
- Kobexindo Tractors - Indoneisa
- Cement Manufacturers Association - India
- Videocon Industries ltd - India
- LBH Netherlands Bv - Netherlands
- PNOC Exploration Corporation - Philippines
- South Luzon Thermal Energy Corporation
- Neyveli Lignite Corporation Ltd, - India
- TeaM Sual Corporation - Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Star Paper Mills Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Meralco Power Generation, Philippines
- Eastern Coal Council - USA
- Global Business Power Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- The Treasury - Australian Government
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Economic Council, Georgia
- McConnell Dowell - Australia
- Manunggal Multi Energi - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Kartika Selabumi Mining - Indonesia
- The State Trading Corporation of India Ltd
- IEA Clean Coal Centre - UK
- Meenaskhi Energy Private Limited - India
- Altura Mining Limited, Indonesia
- Malabar Cements Ltd - India
- Uttam Galva Steels Limited - India
- Minerals Council of Australia
- Straits Asia Resources Limited - Singapore
- SMC Global Power, Philippines
- Savvy Resources Ltd - HongKong
- India Bulls Power Limited - India
- London Commodity Brokers - England
- Karbindo Abesyapradhi - Indoneisa
- Maheswari Brothers Coal Limited - India
- Indogreen Group - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Georgia Ports Authority, United States
- Tata Chemicals Ltd - India
- Indonesian Coal Mining Association
- Mercator Lines Limited - India
- Siam City Cement PLC, Thailand
- Latin American Coal - Colombia
- Sarangani Energy Corporation, Philippines
- Jindal Steel & Power Ltd - India
- Bharathi Cement Corporation - India
- ICICI Bank Limited - India
- Heidelberg Cement - Germany
- Asmin Koalindo Tuhup - Indonesia
- Marubeni Corporation - India
- Bayan Resources Tbk. - Indonesia
- Bangladesh Power Developement Board
- PowerSource Philippines DevCo
- Mercuria Energy - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bhatia International Limited - India
- Medco Energi Mining Internasional
- OPG Power Generation Pvt Ltd - India
- Kumho Petrochemical, South Korea
- Gujarat Electricity Regulatory Commission - India
- Bukit Asam (Persero) Tbk - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Makarim & Taira - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Independent Power Producers Association of India
- Lanco Infratech Ltd - India
- GVK Power & Infra Limited - India
- Port Waratah Coal Services - Australia
- GMR Energy Limited - India
- Bukit Makmur.PT - Indonesia
- Xindia Steels Limited - India
- Indian Oil Corporation Limited
- Banpu Public Company Limited - Thailand
- Vijayanagar Sugar Pvt Ltd - India
- Parliament of New Zealand
- Interocean Group of Companies - India
- Sojitz Corporation - Japan
- Ceylon Electricity Board - Sri Lanka
- Edison Trading Spa - Italy
- Aditya Birla Group - India
- Sakthi Sugars Limited - India
- Madhucon Powers Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Standard Chartered Bank - UAE
- Thiess Contractors Indonesia
- The University of Queensland
- Indika Energy - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Pendopo Energi Batubara - Indonesia
- Barasentosa Lestari - Indonesia
- Global Coal Blending Company Limited - Australia
- Maharashtra Electricity Regulatory Commission - India
- Petron Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Mjunction Services Limited - India
- Attock Cement Pakistan Limited
- Central Electricity Authority - India
- Romanian Commodities Exchange
- Globalindo Alam Lestari - Indonesia
- Coastal Gujarat Power Limited - India
- Ambuja Cements Ltd - India
- Energy Development Corp, Philippines
- Oldendorff Carriers - Singapore
- Global Green Power PLC Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- Salva Resources Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- SN Aboitiz Power Inc, Philippines
- Samtan Co., Ltd - South Korea
- Semirara Mining Corp, Philippines
- Simpson Spence & Young - Indonesia
- Wilmar Investment Holdings
- Central Java Power - Indonesia
- Dalmia Cement Bharat India
- Posco Energy - South Korea
- GN Power Mariveles Coal Plant, Philippines
- Price Waterhouse Coopers - Russia
- Gujarat Mineral Development Corp Ltd - India
- CIMB Investment Bank - Malaysia
- Tamil Nadu electricity Board
- Goldman Sachs - Singapore
- CNBM International Corporation - China
- Larsen & Toubro Limited - India
- VISA Power Limited - India
- Borneo Indobara - Indonesia
- Singapore Mercantile Exchange
- San Jose City I Power Corp, Philippines
- Krishnapatnam Port Company Ltd. - India
- Holcim Trading Pte Ltd - Singapore
- PetroVietnam Power Coal Import and Supply Company
- International Coal Ventures Pvt Ltd - India
- Siam City Cement - Thailand
- Electricity Authority, New Zealand
- Ministry of Transport, Egypt
- Chettinad Cement Corporation Ltd - India
- Binh Thuan Hamico - Vietnam
- Grasim Industreis Ltd - India
- Renaissance Capital - South Africa
- Carbofer General Trading SA - India
- Agrawal Coal Company - India
- Sical Logistics Limited - India
- Commonwealth Bank - Australia
- Ministry of Finance - Indonesia
- Thai Mozambique Logistica
- Power Finance Corporation Ltd., India
- Rashtriya Ispat Nigam Limited - India
- Sree Jayajothi Cements Limited - India
- Wood Mackenzie - Singapore
- Electricity Generating Authority of Thailand
- New Zealand Coal & Carbon
- Australian Coal Association
- Riau Bara Harum - Indonesia
- Merrill Lynch Commodities Europe
- Anglo American - United Kingdom
- Coalindo Energy - Indonesia
- Bhoruka Overseas - Indonesia
- Indo Tambangraya Megah - Indonesia
- Rio Tinto Coal - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Bukit Baiduri Energy - Indonesia
- SMG Consultants - Indonesia
- Trasteel International SA, Italy
- Essar Steel Hazira Ltd - India
- Intertek Mineral Services - Indonesia
- Sindya Power Generating Company Private Ltd
- Mintek Dendrill Indonesia
- GAC Shipping (India) Pvt Ltd
- Petrochimia International Co. Ltd.- Taiwan
- Parry Sugars Refinery, India
- Directorate Of Revenue Intelligence - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kepco SPC Power Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- IHS Mccloskey Coal Group - USA
- Jaiprakash Power Ventures ltd
- Planning Commission, India
- MS Steel International - UAE
- Australian Commodity Traders Exchange
- Timah Investasi Mineral - Indoneisa
- Energy Link Ltd, New Zealand
- Vedanta Resources Plc - India
- Iligan Light & Power Inc, Philippines
- Antam Resourcindo - Indonesia
- Kaltim Prima Coal - Indonesia
- Vizag Seaport Private Limited - India
- PTC India Limited - India
- Chamber of Mines of South Africa
- Ministry of Mines - Canada
- Eastern Energy - Thailand
- Jorong Barutama Greston.PT - Indonesia
- Ind-Barath Power Infra Limited - India
- Karaikal Port Pvt Ltd - India
- ASAPP Information Group - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Deloitte Consulting - India
- Toyota Tsusho Corporation, Japan
- Orica Mining Services - Indonesia
- Bhushan Steel Limited - India
- Gujarat Sidhee Cement - India
- Semirara Mining and Power Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Miang Besar Coal Terminal - Indonesia
- Africa Commodities Group - South Africa
- Pipit Mutiara Jaya. PT, Indonesia
- White Energy Company Limited
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