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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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Wednesday, 07 December 22
MARKET INSIGHT - INTERMODAL
China’s coal imports from January to October were 230.1m mt, a decrease of around 10.7% y-o-y (2021 totalled 323.2m mt). The question is if t ...
Wednesday, 07 December 22
INDIA'S STEEL MINISTRY SEEKS IMPORT TAX WAIVER FOR COKING COAL - SOURCES REUTERS REPORTED
India’s steel ministry has asked the finance ministry for a waiver of import tax on coking coal among a slew of raw materials, as it scramble ...
Tuesday, 06 December 22
INDIA'S COAL PRODUCTION RISES 17% IN APR-NOV PERIOD - PTI
The country’s coal production increased 17 per cent to 524.20 million tonnes in the April-November period of the ongoing fiscal.
...
Tuesday, 06 December 22
INDONESIA AIMS TO STARTS COLLECTING COAL LEVY IN Q1 2023 - MINISTER, REUTERS REPORTED
Indonesia aims to establish a coal fund agency and start collecting a coal levy in the first quarter next year, to help ensure supply security for ...
Saturday, 03 December 22
COMPLEX RUSSIAN PRICE CAP MAKES MARITIME VISIBILITY A MUST - WINDWARD
Many commentators and analysts are speculating about the potential impact the Russian seaborne oil price cap will have on organizations and entitie ...
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Showing 176 to 180 news of total 6871 |
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- Miang Besar Coal Terminal - Indonesia
- Meralco Power Generation, Philippines
- Salva Resources Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- PTC India Limited - India
- Bukit Baiduri Energy - Indonesia
- Altura Mining Limited, Indonesia
- Cement Manufacturers Association - India
- ICICI Bank Limited - India
- Price Waterhouse Coopers - Russia
- Orica Australia Pty. Ltd.
- Bukit Asam (Persero) Tbk - Indonesia
- Videocon Industries ltd - India
- Toyota Tsusho Corporation, Japan
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Port Waratah Coal Services - Australia
- Madhucon Powers Ltd - India
- Formosa Plastics Group - Taiwan
- Sojitz Corporation - Japan
- Tamil Nadu electricity Board
- Eastern Energy - Thailand
- Singapore Mercantile Exchange
- Trasteel International SA, Italy
- AsiaOL BioFuels Corp., Philippines
- Agrawal Coal Company - India
- Malabar Cements Ltd - India
- Chamber of Mines of South Africa
- Economic Council, Georgia
- Therma Luzon, Inc, Philippines
- Kobexindo Tractors - Indoneisa
- San Jose City I Power Corp, Philippines
- OPG Power Generation Pvt Ltd - India
- Bhushan Steel Limited - India
- SMC Global Power, Philippines
- Electricity Generating Authority of Thailand
- Merrill Lynch Commodities Europe
- Metalloyd Limited - United Kingdom
- Indonesian Coal Mining Association
- Attock Cement Pakistan Limited
- Heidelberg Cement - Germany
- SMG Consultants - Indonesia
- Dalmia Cement Bharat India
- Kapuas Tunggal Persada - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Central Electricity Authority - India
- Bukit Makmur.PT - Indonesia
- Wood Mackenzie - Singapore
- Jindal Steel & Power Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bharathi Cement Corporation - India
- Orica Mining Services - Indonesia
- Coal and Oil Company - UAE
- Latin American Coal - Colombia
- Africa Commodities Group - South Africa
- Thiess Contractors Indonesia
- Australian Commodity Traders Exchange
- Intertek Mineral Services - Indonesia
- Directorate Of Revenue Intelligence - India
- Mercuria Energy - Indonesia
- India Bulls Power Limited - India
- Semirara Mining and Power Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- GMR Energy Limited - India
- Sakthi Sugars Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Eastern Coal Council - USA
- Bhoruka Overseas - Indonesia
- Central Java Power - Indonesia
- GAC Shipping (India) Pvt Ltd
- Mjunction Services Limited - India
- The Treasury - Australian Government
- Thai Mozambique Logistica
- Borneo Indobara - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Power Finance Corporation Ltd., India
- Rio Tinto Coal - Australia
- Posco Energy - South Korea
- Kaltim Prima Coal - Indonesia
- Electricity Authority, New Zealand
- Indian Energy Exchange, India
- Gujarat Sidhee Cement - India
- Aditya Birla Group - India
- GVK Power & Infra Limited - India
- Petron Corporation, Philippines
- Mercator Lines Limited - India
- Indian Oil Corporation Limited
- Samtan Co., Ltd - South Korea
- PowerSource Philippines DevCo
- Indika Energy - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Global Coal Blending Company Limited - Australia
- Bayan Resources Tbk. - Indonesia
- Manunggal Multi Energi - Indonesia
- McConnell Dowell - Australia
- Independent Power Producers Association of India
- Alfred C Toepfer International GmbH - Germany
- Ceylon Electricity Board - Sri Lanka
- Interocean Group of Companies - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Binh Thuan Hamico - Vietnam
- Global Business Power Corporation, Philippines
- Energy Link Ltd, New Zealand
- Krishnapatnam Port Company Ltd. - India
- Siam City Cement PLC, Thailand
- Indogreen Group - Indonesia
- Timah Investasi Mineral - Indoneisa
- Global Green Power PLC Corporation, Philippines
- Minerals Council of Australia
- Sinarmas Energy and Mining - Indonesia
- Sree Jayajothi Cements Limited - India
- Oldendorff Carriers - Singapore
- Parliament of New Zealand
- Edison Trading Spa - Italy
- Romanian Commodities Exchange
- Medco Energi Mining Internasional
- Kumho Petrochemical, South Korea
- Offshore Bulk Terminal Pte Ltd, Singapore
- Directorate General of MIneral and Coal - Indonesia
- TeaM Sual Corporation - Philippines
- White Energy Company Limited
- Antam Resourcindo - Indonesia
- VISA Power Limited - India
- The State Trading Corporation of India Ltd
- Kideco Jaya Agung - Indonesia
- Coastal Gujarat Power Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- CNBM International Corporation - China
- Parry Sugars Refinery, India
- Essar Steel Hazira Ltd - India
- Wilmar Investment Holdings
- Jorong Barutama Greston.PT - Indonesia
- Kepco SPC Power Corporation, Philippines
- Savvy Resources Ltd - HongKong
- Simpson Spence & Young - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kohat Cement Company Ltd. - Pakistan
- New Zealand Coal & Carbon
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Goldman Sachs - Singapore
- Marubeni Corporation - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sical Logistics Limited - India
- Bangladesh Power Developement Board
- Ministry of Transport, Egypt
- Iligan Light & Power Inc, Philippines
- Barasentosa Lestari - Indonesia
- Anglo American - United Kingdom
- CIMB Investment Bank - Malaysia
- Ministry of Mines - Canada
- Tata Chemicals Ltd - India
- European Bulk Services B.V. - Netherlands
- Vizag Seaport Private Limited - India
- Sindya Power Generating Company Private Ltd
- Mintek Dendrill Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Ministry of Finance - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Grasim Industreis Ltd - India
- Makarim & Taira - Indonesia
- SN Aboitiz Power Inc, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- PNOC Exploration Corporation - Philippines
- Lanco Infratech Ltd - India
- Renaissance Capital - South Africa
- IHS Mccloskey Coal Group - USA
- Holcim Trading Pte Ltd - Singapore
- Semirara Mining Corp, Philippines
- London Commodity Brokers - England
- Planning Commission, India
- ASAPP Information Group - India
- Ambuja Cements Ltd - India
- Bhatia International Limited - India
- Sarangani Energy Corporation, Philippines
- Baramulti Group, Indonesia
- Chettinad Cement Corporation Ltd - India
- Uttam Galva Steels Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Pendopo Energi Batubara - Indonesia
- Standard Chartered Bank - UAE
- Cigading International Bulk Terminal - Indonesia
- Carbofer General Trading SA - India
- Maheswari Brothers Coal Limited - India
- IEA Clean Coal Centre - UK
- Larsen & Toubro Limited - India
- Rashtriya Ispat Nigam Limited - India
- Georgia Ports Authority, United States
- Asmin Koalindo Tuhup - Indonesia
- Jaiprakash Power Ventures ltd
- Australian Coal Association
- Star Paper Mills Limited - India
- Siam City Cement - Thailand
- International Coal Ventures Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- Energy Development Corp, Philippines
- Deloitte Consulting - India
- Vedanta Resources Plc - India
- Karaikal Port Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- Ind-Barath Power Infra Limited - India
- MS Steel International - UAE
- Aboitiz Power Corporation - Philippines
- Xindia Steels Limited - India
- Gujarat Electricity Regulatory Commission - India
- Riau Bara Harum - Indonesia
- Coalindo Energy - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Karbindo Abesyapradhi - Indoneisa
- Vijayanagar Sugar Pvt Ltd - India
- The University of Queensland
- Meenaskhi Energy Private Limited - India
- Globalindo Alam Lestari - Indonesia
- Commonwealth Bank - Australia
- LBH Netherlands Bv - Netherlands
- Neyveli Lignite Corporation Ltd, - India
- Bulk Trading Sa - Switzerland
- Banpu Public Company Limited - Thailand
- Kartika Selabumi Mining - Indonesia
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