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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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Monday, 19 December 22
ENERGY CRISIS FUELS COAL COMEBACK IN GERMANY - REUTERS
Coal has made a comeback in Germany this year, as Europe’s largest economy turns to the dirty fuel to power it through an energy crisis.
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Thursday, 15 December 22
MARKET INSIGHT - INTERMODAL
While observing the ship repair market very close to the end of the year, we are confident that shipyards worldwide are entering a new era. The nex ...
Tuesday, 13 December 22
STRONG COAL PRICES SUPPORT ROBUST EARNINGS AT INDONESIAN COAL MINERS - FITCH RATINGS
Fitch Ratings expects cash flow generation at Indonesian coal miners to remain strong in 2023, based on its forecast for coal prices to remain high ...
Tuesday, 13 December 22
BIMCO CII CLAUSE FINALLY RELEASED: DOES IT MAKE ANY SENSE OF CCI? - WFW
WHAT IS CII?
The new International Maritime Organisation’s (“IMO’s”) Carbon Intensity Indicator (“CII”) cer ...
Tuesday, 13 December 22
COAL BASE RAMPS UP ENERGY SUPPLY FOR WINTER NEEDS - XINHUA
Inner Mongolia Autonomous Region, China’s leading coal production base, has kicked its production into high gear to meet heating needs as col ...
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- Bhatia International Limited - India
- Uttam Galva Steels Limited - India
- Interocean Group of Companies - India
- Star Paper Mills Limited - India
- ASAPP Information Group - India
- Timah Investasi Mineral - Indoneisa
- Karaikal Port Pvt Ltd - India
- Thai Mozambique Logistica
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- Merrill Lynch Commodities Europe
- Samtan Co., Ltd - South Korea
- London Commodity Brokers - England
- Posco Energy - South Korea
- Baramulti Group, Indonesia
- Global Green Power PLC Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Indo Tambangraya Megah - Indonesia
- Xindia Steels Limited - India
- Metalloyd Limited - United Kingdom
- Maharashtra Electricity Regulatory Commission - India
- Central Electricity Authority - India
- Alfred C Toepfer International GmbH - Germany
- Coalindo Energy - Indonesia
- Deloitte Consulting - India
- Coal and Oil Company - UAE
- Bharathi Cement Corporation - India
- Indonesian Coal Mining Association
- The University of Queensland
- Kumho Petrochemical, South Korea
- Vizag Seaport Private Limited - India
- Globalindo Alam Lestari - Indonesia
- GMR Energy Limited - India
- Oldendorff Carriers - Singapore
- Eastern Coal Council - USA
- Anglo American - United Kingdom
- Energy Link Ltd, New Zealand
- Kalimantan Lumbung Energi - Indonesia
- Chettinad Cement Corporation Ltd - India
- Straits Asia Resources Limited - Singapore
- Agrawal Coal Company - India
- Therma Luzon, Inc, Philippines
- Renaissance Capital - South Africa
- Vijayanagar Sugar Pvt Ltd - India
- White Energy Company Limited
- Kideco Jaya Agung - Indonesia
- Parliament of New Zealand
- Ministry of Transport, Egypt
- Antam Resourcindo - Indonesia
- Bukit Baiduri Energy - Indonesia
- Electricity Generating Authority of Thailand
- SMC Global Power, Philippines
- Indogreen Group - Indonesia
- PTC India Limited - India
- Edison Trading Spa - Italy
- Borneo Indobara - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Siam City Cement - Thailand
- Siam City Cement PLC, Thailand
- Romanian Commodities Exchange
- Miang Besar Coal Terminal - Indonesia
- New Zealand Coal & Carbon
- Intertek Mineral Services - Indonesia
- Rio Tinto Coal - Australia
- Aboitiz Power Corporation - Philippines
- Standard Chartered Bank - UAE
- Essar Steel Hazira Ltd - India
- Mercuria Energy - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Vedanta Resources Plc - India
- TNB Fuel Sdn Bhd - Malaysia
- Jindal Steel & Power Ltd - India
- The State Trading Corporation of India Ltd
- Economic Council, Georgia
- Trasteel International SA, Italy
- Heidelberg Cement - Germany
- Sarangani Energy Corporation, Philippines
- Semirara Mining and Power Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- SMG Consultants - Indonesia
- Energy Development Corp, Philippines
- Independent Power Producers Association of India
- SN Aboitiz Power Inc, Philippines
- PetroVietnam Power Coal Import and Supply Company
- India Bulls Power Limited - India
- Maheswari Brothers Coal Limited - India
- CIMB Investment Bank - Malaysia
- Bulk Trading Sa - Switzerland
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Offshore Bulk Terminal Pte Ltd, Singapore
- Singapore Mercantile Exchange
- Orica Australia Pty. Ltd.
- Carbofer General Trading SA - India
- Sree Jayajothi Cements Limited - India
- The Treasury - Australian Government
- International Coal Ventures Pvt Ltd - India
- Larsen & Toubro Limited - India
- European Bulk Services B.V. - Netherlands
- CNBM International Corporation - China
- Asmin Koalindo Tuhup - Indonesia
- Simpson Spence & Young - Indonesia
- Manunggal Multi Energi - Indonesia
- Ind-Barath Power Infra Limited - India
- Kobexindo Tractors - Indoneisa
- Mjunction Services Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Jaiprakash Power Ventures ltd
- San Jose City I Power Corp, Philippines
- Georgia Ports Authority, United States
- Kartika Selabumi Mining - Indonesia
- Barasentosa Lestari - Indonesia
- Sojitz Corporation - Japan
- Indian Energy Exchange, India
- Altura Mining Limited, Indonesia
- Power Finance Corporation Ltd., India
- Semirara Mining Corp, Philippines
- GVK Power & Infra Limited - India
- Mintek Dendrill Indonesia
- Wilmar Investment Holdings
- Latin American Coal - Colombia
- Bukit Makmur.PT - Indonesia
- Videocon Industries ltd - India
- Savvy Resources Ltd - HongKong
- Banpu Public Company Limited - Thailand
- Neyveli Lignite Corporation Ltd, - India
- Coastal Gujarat Power Limited - India
- Holcim Trading Pte Ltd - Singapore
- Leighton Contractors Pty Ltd - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Makarim & Taira - Indonesia
- McConnell Dowell - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Lanco Infratech Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ministry of Mines - Canada
- GN Power Mariveles Coal Plant, Philippines
- Chamber of Mines of South Africa
- LBH Netherlands Bv - Netherlands
- Malabar Cements Ltd - India
- Bhushan Steel Limited - India
- Indian Oil Corporation Limited
- Thiess Contractors Indonesia
- Medco Energi Mining Internasional
- Price Waterhouse Coopers - Russia
- Directorate General of MIneral and Coal - Indonesia
- Attock Cement Pakistan Limited
- Directorate Of Revenue Intelligence - India
- Africa Commodities Group - South Africa
- Planning Commission, India
- Sical Logistics Limited - India
- Meralco Power Generation, Philippines
- Minerals Council of Australia
- Global Coal Blending Company Limited - Australia
- TeaM Sual Corporation - Philippines
- Marubeni Corporation - India
- PowerSource Philippines DevCo
- Ministry of Finance - Indonesia
- Grasim Industreis Ltd - India
- ICICI Bank Limited - India
- PNOC Exploration Corporation - Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Electricity Authority, New Zealand
- Gujarat Sidhee Cement - India
- Bhoruka Overseas - Indonesia
- Sindya Power Generating Company Private Ltd
- Australian Commodity Traders Exchange
- Ceylon Electricity Board - Sri Lanka
- Bahari Cakrawala Sebuku - Indonesia
- Formosa Plastics Group - Taiwan
- Eastern Energy - Thailand
- Orica Mining Services - Indonesia
- VISA Power Limited - India
- Gujarat Mineral Development Corp Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Riau Bara Harum - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Bayan Resources Tbk. - Indonesia
- Toyota Tsusho Corporation, Japan
- Meenaskhi Energy Private Limited - India
- Salva Resources Pvt Ltd - India
- Indika Energy - Indonesia
- Global Business Power Corporation, Philippines
- Dalmia Cement Bharat India
- Mercator Lines Limited - India
- Iligan Light & Power Inc, Philippines
- Madhucon Powers Ltd - India
- Gujarat Electricity Regulatory Commission - India
- IEA Clean Coal Centre - UK
- South Luzon Thermal Energy Corporation
- Central Java Power - Indonesia
- Goldman Sachs - Singapore
- Kaltim Prima Coal - Indonesia
- Parry Sugars Refinery, India
- Australian Coal Association
- Wood Mackenzie - Singapore
- Billiton Holdings Pty Ltd - Australia
- Petron Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- Sakthi Sugars Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Sinarmas Energy and Mining - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Port Waratah Coal Services - Australia
- Commonwealth Bank - Australia
- Kapuas Tunggal Persada - Indonesia
- MS Steel International - UAE
- GAC Shipping (India) Pvt Ltd
- Petrochimia International Co. Ltd.- Taiwan
- Cement Manufacturers Association - India
- Bangladesh Power Developement Board
- Tamil Nadu electricity Board
- IHS Mccloskey Coal Group - USA
- Ambuja Cements Ltd - India
- Tata Chemicals Ltd - India
- Kepco SPC Power Corporation, Philippines
- Aditya Birla Group - India
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