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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, 13 December 22
AUSTRALIA TO CAP PRICES OF COAL, GAS TO DRIVE DOWN ENERGY BILLS - REUTERS
Australia will cap coal and gas prices for a year in a bid to shave utility bills for households and businesses hit by soaring costs because of the ...
Tuesday, 13 December 22
YANCOAL AUSTRALIA TO PREPAY $459 MLN DEBT AS RECORD COAL PRICES BOOST CASHFLOWS - REUTERS
Coal miner Yancoal Australia Ltd. said on Friday it intended to prepay $459 million of its debt on or around Dec. 16, as elevated coal prices were ...
Tuesday, 13 December 22
WHY COAL LEADS THE RISE IN COMMODITIES THIS YEAR - MARKETWATCH
This year marked a resurgence for coal, often known — and loathed — by environmentalists as the dirtiest energy source, with prices mor ...
Thursday, 08 December 22
BIMCO TO REVISE WAR RISK CLAUSES
Work to revise the BIMCO War Cancellation Clause 2004, the BIMCO War Risks Clause for Time Chartering 2013 (CONWARTIME 2013) and the BIMCO War Risk ...
Thursday, 08 December 22
COAL ROYALTY PAYMENTS BOOST AUSTRALIAN STATE'S BUDGET FORECAST - REUTERS
Australia’s Queensland state on Wednesday forecast a record surplus for the current financial year, largely driven by higher royalty payments ...
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- Globalindo Alam Lestari - Indonesia
- LBH Netherlands Bv - Netherlands
- Sakthi Sugars Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Parry Sugars Refinery, India
- Electricity Generating Authority of Thailand
- Wood Mackenzie - Singapore
- Independent Power Producers Association of India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bhushan Steel Limited - India
- Tata Chemicals Ltd - India
- Cement Manufacturers Association - India
- Power Finance Corporation Ltd., India
- Indian Oil Corporation Limited
- Sree Jayajothi Cements Limited - India
- MS Steel International - UAE
- Anglo American - United Kingdom
- Australian Commodity Traders Exchange
- PowerSource Philippines DevCo
- Central Java Power - Indonesia
- Maheswari Brothers Coal Limited - India
- Vedanta Resources Plc - India
- Carbofer General Trading SA - India
- Rio Tinto Coal - Australia
- Larsen & Toubro Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Ind-Barath Power Infra Limited - India
- Orica Australia Pty. Ltd.
- Bukit Asam (Persero) Tbk - Indonesia
- SN Aboitiz Power Inc, Philippines
- Mintek Dendrill Indonesia
- Sojitz Corporation - Japan
- Africa Commodities Group - South Africa
- Kartika Selabumi Mining - Indonesia
- Medco Energi Mining Internasional
- Jaiprakash Power Ventures ltd
- Intertek Mineral Services - Indonesia
- GMR Energy Limited - India
- Lanco Infratech Ltd - India
- Kideco Jaya Agung - Indonesia
- Essar Steel Hazira Ltd - India
- Port Waratah Coal Services - Australia
- Attock Cement Pakistan Limited
- Pipit Mutiara Jaya. PT, Indonesia
- Simpson Spence & Young - Indonesia
- Indonesian Coal Mining Association
- Parliament of New Zealand
- Australian Coal Association
- Iligan Light & Power Inc, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Madhucon Powers Ltd - India
- Jindal Steel & Power Ltd - India
- Eastern Coal Council - USA
- Antam Resourcindo - Indonesia
- Kepco SPC Power Corporation, Philippines
- McConnell Dowell - Australia
- Dalmia Cement Bharat India
- White Energy Company Limited
- GN Power Mariveles Coal Plant, Philippines
- Sinarmas Energy and Mining - Indonesia
- India Bulls Power Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Tamil Nadu electricity Board
- GAC Shipping (India) Pvt Ltd
- Heidelberg Cement - Germany
- Indian Energy Exchange, India
- Malabar Cements Ltd - India
- Sical Logistics Limited - India
- Billiton Holdings Pty Ltd - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ceylon Electricity Board - Sri Lanka
- Barasentosa Lestari - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Coastal Gujarat Power Limited - India
- Energy Link Ltd, New Zealand
- CIMB Investment Bank - Malaysia
- Manunggal Multi Energi - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- OPG Power Generation Pvt Ltd - India
- Mercator Lines Limited - India
- PTC India Limited - India
- Kapuas Tunggal Persada - Indonesia
- Thai Mozambique Logistica
- Kaltim Prima Coal - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Holcim Trading Pte Ltd - Singapore
- Trasteel International SA, Italy
- TeaM Sual Corporation - Philippines
- AsiaOL BioFuels Corp., Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Therma Luzon, Inc, Philippines
- The University of Queensland
- Formosa Plastics Group - Taiwan
- Goldman Sachs - Singapore
- Semirara Mining and Power Corporation, Philippines
- VISA Power Limited - India
- Mjunction Services Limited - India
- Chettinad Cement Corporation Ltd - India
- Indo Tambangraya Megah - Indonesia
- Savvy Resources Ltd - HongKong
- Ambuja Cements Ltd - India
- Siam City Cement - Thailand
- Vijayanagar Sugar Pvt Ltd - India
- Merrill Lynch Commodities Europe
- Bharathi Cement Corporation - India
- Baramulti Group, Indonesia
- Mercuria Energy - Indonesia
- Vizag Seaport Private Limited - India
- Interocean Group of Companies - India
- International Coal Ventures Pvt Ltd - India
- Indogreen Group - Indonesia
- Central Electricity Authority - India
- Timah Investasi Mineral - Indoneisa
- Meenaskhi Energy Private Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Krishnapatnam Port Company Ltd. - India
- San Jose City I Power Corp, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Economic Council, Georgia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bhoruka Overseas - Indonesia
- Global Coal Blending Company Limited - Australia
- Kobexindo Tractors - Indoneisa
- Aboitiz Power Corporation - Philippines
- Wilmar Investment Holdings
- Neyveli Lignite Corporation Ltd, - India
- Asmin Koalindo Tuhup - Indonesia
- Coal and Oil Company - UAE
- Ministry of Transport, Egypt
- IEA Clean Coal Centre - UK
- Bhatia International Limited - India
- Indika Energy - Indonesia
- Salva Resources Pvt Ltd - India
- Minerals Council of Australia
- Metalloyd Limited - United Kingdom
- Latin American Coal - Colombia
- Straits Asia Resources Limited - Singapore
- TNB Fuel Sdn Bhd - Malaysia
- Marubeni Corporation - India
- Meralco Power Generation, Philippines
- London Commodity Brokers - England
- Karbindo Abesyapradhi - Indoneisa
- Binh Thuan Hamico - Vietnam
- Gujarat Sidhee Cement - India
- CNBM International Corporation - China
- Xindia Steels Limited - India
- Pendopo Energi Batubara - Indonesia
- Bulk Trading Sa - Switzerland
- Thiess Contractors Indonesia
- Makarim & Taira - Indonesia
- Planning Commission, India
- Rashtriya Ispat Nigam Limited - India
- Siam City Cement PLC, Thailand
- Leighton Contractors Pty Ltd - Australia
- Sarangani Energy Corporation, Philippines
- Kumho Petrochemical, South Korea
- Ministry of Finance - Indonesia
- IHS Mccloskey Coal Group - USA
- Maharashtra Electricity Regulatory Commission - India
- Karaikal Port Pvt Ltd - India
- Ministry of Mines - Canada
- Bayan Resources Tbk. - Indonesia
- Riau Bara Harum - Indonesia
- Deloitte Consulting - India
- Global Business Power Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- Bukit Baiduri Energy - Indonesia
- Uttam Galva Steels Limited - India
- GVK Power & Infra Limited - India
- Altura Mining Limited, Indonesia
- SMC Global Power, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Star Paper Mills Limited - India
- Sindya Power Generating Company Private Ltd
- Standard Chartered Bank - UAE
- The Treasury - Australian Government
- Toyota Tsusho Corporation, Japan
- Orica Mining Services - Indonesia
- Petron Corporation, Philippines
- Semirara Mining Corp, Philippines
- Electricity Authority, New Zealand
- South Luzon Thermal Energy Corporation
- New Zealand Coal & Carbon
- Singapore Mercantile Exchange
- Posco Energy - South Korea
- Bangladesh Power Developement Board
- Miang Besar Coal Terminal - Indonesia
- Aditya Birla Group - India
- Samtan Co., Ltd - South Korea
- Georgia Ports Authority, United States
- Energy Development Corp, Philippines
- Eastern Energy - Thailand
- Chamber of Mines of South Africa
- ICICI Bank Limited - India
- Grasim Industreis Ltd - India
- Oldendorff Carriers - Singapore
- SMG Consultants - Indonesia
- Global Green Power PLC Corporation, Philippines
- ASAPP Information Group - India
- Videocon Industries ltd - India
- Edison Trading Spa - Italy
- Cigading International Bulk Terminal - Indonesia
- Romanian Commodities Exchange
- Borneo Indobara - Indonesia
- PNOC Exploration Corporation - Philippines
- Banpu Public Company Limited - Thailand
- Commonwealth Bank - Australia
- Agrawal Coal Company - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- Renaissance Capital - South Africa
- Price Waterhouse Coopers - Russia
- Coalindo Energy - Indonesia
- The State Trading Corporation of India Ltd
- Directorate Of Revenue Intelligence - India
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