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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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Thursday, 22 December 22
RUSSIAN OIL EXPORTS CRATER BY 54% IN THE FIRST FULL WEEK OF THE EU'S EMBARGO AMID A SHORTAGE OF TANKERS WILLING TO CARRY CARGOES - BUSINESS INSIDER
Since the European Union imposed its seaborne crude sanctions, Russian oil exports have tumbled by more than half, according to data compiled by Bl ...
Thursday, 22 December 22
CHINA TIGHTENS VERIFICATION OF SHIPS’ ENERGY CONSUMPTION DATA - GARD
From 22 December 2022, ships trading to Chinese ports must record their energy consumption data in accordance with the requirements of their Ship E ...
Thursday, 22 December 22
AN OVERVIEW OF THE LNG MARKET - VESSELSVALUE
LNG values have continued to strengthen, spurred by skyrocketing earnings that have surpassed last year’s record breaking peaks. In November, ...
Thursday, 22 December 22
COKING COAL SLUMPS AS TALKS ON AUSTRALIA-CHINA TRADE RIFT LOOM - REUTERS
Chinese coking coal futures dropped more than 3 per cent on Tuesday (Dec 20), extending losses, as supply of the steelmaking input might increase i ...
Thursday, 22 December 22
COAL AND GAS PRICE CAPS MAY COMPOUND POLITICAL RISK FOR AUSTRALIAN CORPORATES - FITCH RATINGS
Australia’s introduction of temporary price caps on domestic sales of gas and coal used for electricity generation will probably have limited ...
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- Makarim & Taira - Indonesia
- Bhoruka Overseas - Indonesia
- Minerals Council of Australia
- Port Waratah Coal Services - Australia
- Jorong Barutama Greston.PT - Indonesia
- Gujarat Sidhee Cement - India
- Formosa Plastics Group - Taiwan
- Kideco Jaya Agung - Indonesia
- Gujarat Electricity Regulatory Commission - India
- ASAPP Information Group - India
- Singapore Mercantile Exchange
- Baramulti Group, Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Petron Corporation, Philippines
- ICICI Bank Limited - India
- Goldman Sachs - Singapore
- PTC India Limited - India
- The Treasury - Australian Government
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Grasim Industreis Ltd - India
- Kaltim Prima Coal - Indonesia
- Indonesian Coal Mining Association
- Bukit Asam (Persero) Tbk - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Kohat Cement Company Ltd. - Pakistan
- Karaikal Port Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Posco Energy - South Korea
- Lanco Infratech Ltd - India
- Trasteel International SA, Italy
- Star Paper Mills Limited - India
- PNOC Exploration Corporation - Philippines
- Dalmia Cement Bharat India
- PowerSource Philippines DevCo
- Indo Tambangraya Megah - Indonesia
- Georgia Ports Authority, United States
- Holcim Trading Pte Ltd - Singapore
- Directorate General of MIneral and Coal - Indonesia
- SN Aboitiz Power Inc, Philippines
- Therma Luzon, Inc, Philippines
- Maharashtra Electricity Regulatory Commission - India
- IHS Mccloskey Coal Group - USA
- Xindia Steels Limited - India
- Meenaskhi Energy Private Limited - India
- Kobexindo Tractors - Indoneisa
- Indogreen Group - Indonesia
- Bhatia International Limited - India
- Thiess Contractors Indonesia
- Barasentosa Lestari - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Madhucon Powers Ltd - India
- Sakthi Sugars Limited - India
- Coalindo Energy - Indonesia
- Bukit Baiduri Energy - Indonesia
- Merrill Lynch Commodities Europe
- Cigading International Bulk Terminal - Indonesia
- Latin American Coal - Colombia
- Larsen & Toubro Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Independent Power Producers Association of India
- Sree Jayajothi Cements Limited - India
- MS Steel International - UAE
- Indian Oil Corporation Limited
- Agrawal Coal Company - India
- Marubeni Corporation - India
- Kapuas Tunggal Persada - Indonesia
- Bayan Resources Tbk. - Indonesia
- CIMB Investment Bank - Malaysia
- Aboitiz Power Corporation - Philippines
- Attock Cement Pakistan Limited
- TNB Fuel Sdn Bhd - Malaysia
- Asmin Koalindo Tuhup - Indonesia
- Manunggal Multi Energi - Indonesia
- Simpson Spence & Young - Indonesia
- Rio Tinto Coal - Australia
- South Luzon Thermal Energy Corporation
- Altura Mining Limited, Indonesia
- Australian Coal Association
- Bank of Tokyo Mitsubishi UFJ Ltd
- The University of Queensland
- Tata Chemicals Ltd - India
- Bharathi Cement Corporation - India
- Krishnapatnam Port Company Ltd. - India
- Borneo Indobara - Indonesia
- Central Java Power - Indonesia
- Iligan Light & Power Inc, Philippines
- Siam City Cement - Thailand
- Energy Development Corp, Philippines
- Samtan Co., Ltd - South Korea
- Vedanta Resources Plc - India
- Essar Steel Hazira Ltd - India
- Bhushan Steel Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Binh Thuan Hamico - Vietnam
- Bangladesh Power Developement Board
- Eastern Coal Council - USA
- Sarangani Energy Corporation, Philippines
- Metalloyd Limited - United Kingdom
- European Bulk Services B.V. - Netherlands
- Pendopo Energi Batubara - Indonesia
- VISA Power Limited - India
- Renaissance Capital - South Africa
- Leighton Contractors Pty Ltd - Australia
- Maheswari Brothers Coal Limited - India
- GMR Energy Limited - India
- International Coal Ventures Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Semirara Mining Corp, Philippines
- Economic Council, Georgia
- Parry Sugars Refinery, India
- Ambuja Cements Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Power Finance Corporation Ltd., India
- Oldendorff Carriers - Singapore
- Coal and Oil Company - UAE
- Videocon Industries ltd - India
- Aditya Birla Group - India
- TeaM Sual Corporation - Philippines
- SMC Global Power, Philippines
- Jindal Steel & Power Ltd - India
- Ministry of Finance - Indonesia
- Indian Energy Exchange, India
- Directorate Of Revenue Intelligence - India
- Thai Mozambique Logistica
- Salva Resources Pvt Ltd - India
- Mjunction Services Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Antam Resourcindo - Indonesia
- Malabar Cements Ltd - India
- Carbofer General Trading SA - India
- Australian Commodity Traders Exchange
- Coastal Gujarat Power Limited - India
- Mercator Lines Limited - India
- Price Waterhouse Coopers - Russia
- Bukit Makmur.PT - Indonesia
- Standard Chartered Bank - UAE
- GAC Shipping (India) Pvt Ltd
- Edison Trading Spa - Italy
- McConnell Dowell - Australia
- New Zealand Coal & Carbon
- Sojitz Corporation - Japan
- Pipit Mutiara Jaya. PT, Indonesia
- Chamber of Mines of South Africa
- Mintek Dendrill Indonesia
- Savvy Resources Ltd - HongKong
- Asia Pacific Energy Resources Ventures Inc, Philippines
- San Jose City I Power Corp, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Cement Manufacturers Association - India
- Central Electricity Authority - India
- Heidelberg Cement - Germany
- Orica Mining Services - Indonesia
- Orica Australia Pty. Ltd.
- Toyota Tsusho Corporation, Japan
- Parliament of New Zealand
- Miang Besar Coal Terminal - Indonesia
- Vizag Seaport Private Limited - India
- Electricity Generating Authority of Thailand
- Global Coal Blending Company Limited - Australia
- Kalimantan Lumbung Energi - Indonesia
- Riau Bara Harum - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Global Business Power Corporation, Philippines
- The State Trading Corporation of India Ltd
- Kepco SPC Power Corporation, Philippines
- Medco Energi Mining Internasional
- White Energy Company Limited
- Globalindo Alam Lestari - Indonesia
- Deloitte Consulting - India
- Timah Investasi Mineral - Indoneisa
- GN Power Mariveles Coal Plant, Philippines
- Ministry of Transport, Egypt
- Energy Link Ltd, New Zealand
- Eastern Energy - Thailand
- Vijayanagar Sugar Pvt Ltd - India
- Mercuria Energy - Indonesia
- Commonwealth Bank - Australia
- Uttam Galva Steels Limited - India
- Tamil Nadu electricity Board
- London Commodity Brokers - England
- LBH Netherlands Bv - Netherlands
- Intertek Mineral Services - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Anglo American - United Kingdom
- Bulk Trading Sa - Switzerland
- OPG Power Generation Pvt Ltd - India
- GVK Power & Infra Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Indika Energy - Indonesia
- Sindya Power Generating Company Private Ltd
- IEA Clean Coal Centre - UK
- Straits Asia Resources Limited - Singapore
- PetroVietnam Power Coal Import and Supply Company
- Sical Logistics Limited - India
- Jaiprakash Power Ventures ltd
- Sinarmas Energy and Mining - Indonesia
- Wilmar Investment Holdings
- Global Green Power PLC Corporation, Philippines
- Meralco Power Generation, Philippines
- Ind-Barath Power Infra Limited - India
- Planning Commission, India
- Ministry of Mines - Canada
- Electricity Authority, New Zealand
- SMG Consultants - Indonesia
- Wood Mackenzie - Singapore
- Banpu Public Company Limited - Thailand
- Kumho Petrochemical, South Korea
- Siam City Cement PLC, Thailand
- CNBM International Corporation - China
- Kartika Selabumi Mining - Indonesia
- Interocean Group of Companies - India
- Africa Commodities Group - South Africa
- Romanian Commodities Exchange
- Chettinad Cement Corporation Ltd - India
- India Bulls Power Limited - India
- Billiton Holdings Pty Ltd - Australia
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