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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, 29 November 22
SEABORNE COAL FLOWS IN 2022 - SIGNAL
This year is crucial for the energy mix in European countries, as the EU has imposed new sanctions on Russia. It is important to emphasize that the ...
Friday, 25 November 22
APAC THERMAL COAL PRICES CORRECT FROM RECORD HIGH - FITCH RATINGS
Prices of Newcastle 6,000kcal/kg coal have corrected following falling European gas and coal prices, and more supply from Australia could help miti ...
Thursday, 24 November 22
VIETNAM BOOSTS COAL USE PLAN FOR 2030 AS G7 CLIMATE OFFER STALLS - REUTERS
Vietnam has increased its coal power target for 2030 under a revised draft energy plan, government documents seen by Reuters show, while renewables ...
Tuesday, 22 November 22
THE GENCON 2022 CHARTERPARTY - GARD
KNOWLEDGE TO ELEVATE
BIMCO has published a revamped version of the popular GENCON charterparty. Our author, Helena Biggs, was a member of the ...
Tuesday, 22 November 22
INDIA POWER BINGES ON COAL, OUTPACES ASIA - REUTERS
India’s coal-fired power output has increased much faster than any other country in the Asia Pacific since Russia’s invasion of Ukraine ...
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- Miang Besar Coal Terminal - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Metalloyd Limited - United Kingdom
- Vizag Seaport Private Limited - India
- Sojitz Corporation - Japan
- Iligan Light & Power Inc, Philippines
- Goldman Sachs - Singapore
- Kalimantan Lumbung Energi - Indonesia
- Uttam Galva Steels Limited - India
- Malabar Cements Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Vedanta Resources Plc - India
- Holcim Trading Pte Ltd - Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Latin American Coal - Colombia
- Agrawal Coal Company - India
- Coastal Gujarat Power Limited - India
- Minerals Council of Australia
- Leighton Contractors Pty Ltd - Australia
- ASAPP Information Group - India
- Chamber of Mines of South Africa
- Salva Resources Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- Port Waratah Coal Services - Australia
- Altura Mining Limited, Indonesia
- Siam City Cement PLC, Thailand
- Siam City Cement - Thailand
- Jindal Steel & Power Ltd - India
- Videocon Industries ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- GAC Shipping (India) Pvt Ltd
- Romanian Commodities Exchange
- Electricity Generating Authority of Thailand
- Tata Chemicals Ltd - India
- Eastern Coal Council - USA
- Binh Thuan Hamico - Vietnam
- Sarangani Energy Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- Planning Commission, India
- Larsen & Toubro Limited - India
- Madhucon Powers Ltd - India
- Renaissance Capital - South Africa
- Heidelberg Cement - Germany
- IEA Clean Coal Centre - UK
- Bayan Resources Tbk. - Indonesia
- New Zealand Coal & Carbon
- Price Waterhouse Coopers - Russia
- Cement Manufacturers Association - India
- Globalindo Alam Lestari - Indonesia
- Gujarat Sidhee Cement - India
- San Jose City I Power Corp, Philippines
- Sical Logistics Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Xindia Steels Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- India Bulls Power Limited - India
- Meenaskhi Energy Private Limited - India
- Electricity Authority, New Zealand
- Bukit Makmur.PT - Indonesia
- Pendopo Energi Batubara - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Chettinad Cement Corporation Ltd - India
- CNBM International Corporation - China
- Merrill Lynch Commodities Europe
- Directorate General of MIneral and Coal - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Ind-Barath Power Infra Limited - India
- Kartika Selabumi Mining - Indonesia
- Manunggal Multi Energi - Indonesia
- Formosa Plastics Group - Taiwan
- Aditya Birla Group - India
- LBH Netherlands Bv - Netherlands
- Petron Corporation, Philippines
- Georgia Ports Authority, United States
- Wood Mackenzie - Singapore
- Kideco Jaya Agung - Indonesia
- White Energy Company Limited
- Mjunction Services Limited - India
- SN Aboitiz Power Inc, Philippines
- Deloitte Consulting - India
- Coal and Oil Company - UAE
- Antam Resourcindo - Indonesia
- Parliament of New Zealand
- Timah Investasi Mineral - Indoneisa
- Indogreen Group - Indonesia
- Bharathi Cement Corporation - India
- Jaiprakash Power Ventures ltd
- Grasim Industreis Ltd - India
- Maheswari Brothers Coal Limited - India
- Trasteel International SA, Italy
- Savvy Resources Ltd - HongKong
- Intertek Mineral Services - Indonesia
- The State Trading Corporation of India Ltd
- CIMB Investment Bank - Malaysia
- Aboitiz Power Corporation - Philippines
- Indonesian Coal Mining Association
- Bank of Tokyo Mitsubishi UFJ Ltd
- Wilmar Investment Holdings
- Bhoruka Overseas - Indonesia
- ICICI Bank Limited - India
- Borneo Indobara - Indonesia
- Makarim & Taira - Indonesia
- McConnell Dowell - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- MS Steel International - UAE
- Orica Australia Pty. Ltd.
- The Treasury - Australian Government
- Cigading International Bulk Terminal - Indonesia
- Ministry of Mines - Canada
- South Luzon Thermal Energy Corporation
- Sakthi Sugars Limited - India
- VISA Power Limited - India
- Sindya Power Generating Company Private Ltd
- Oldendorff Carriers - Singapore
- London Commodity Brokers - England
- Coalindo Energy - Indonesia
- Mercuria Energy - Indonesia
- Tamil Nadu electricity Board
- SMG Consultants - Indonesia
- GMR Energy Limited - India
- Lanco Infratech Ltd - India
- Bhatia International Limited - India
- Parry Sugars Refinery, India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Toyota Tsusho Corporation, Japan
- Therma Luzon, Inc, Philippines
- Bukit Baiduri Energy - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Standard Chartered Bank - UAE
- PowerSource Philippines DevCo
- PetroVietnam Power Coal Import and Supply Company
- SMC Global Power, Philippines
- Indian Oil Corporation Limited
- Marubeni Corporation - India
- Economic Council, Georgia
- Orica Mining Services - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Global Green Power PLC Corporation, Philippines
- Energy Development Corp, Philippines
- Posco Energy - South Korea
- Australian Commodity Traders Exchange
- Samtan Co., Ltd - South Korea
- Rio Tinto Coal - Australia
- Riau Bara Harum - Indonesia
- Bhushan Steel Limited - India
- Ceylon Electricity Board - Sri Lanka
- European Bulk Services B.V. - Netherlands
- Karaikal Port Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Attock Cement Pakistan Limited
- Neyveli Lignite Corporation Ltd, - India
- Central Java Power - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Bukit Asam (Persero) Tbk - Indonesia
- Kumho Petrochemical, South Korea
- Semirara Mining and Power Corporation, Philippines
- Bulk Trading Sa - Switzerland
- Offshore Bulk Terminal Pte Ltd, Singapore
- GVK Power & Infra Limited - India
- Star Paper Mills Limited - India
- Mintek Dendrill Indonesia
- Anglo American - United Kingdom
- Medco Energi Mining Internasional
- TNB Fuel Sdn Bhd - Malaysia
- Thiess Contractors Indonesia
- Essar Steel Hazira Ltd - India
- Mercator Lines Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Baramulti Group, Indonesia
- Barasentosa Lestari - Indonesia
- PTC India Limited - India
- Dalmia Cement Bharat India
- Interocean Group of Companies - India
- GN Power Mariveles Coal Plant, Philippines
- IHS Mccloskey Coal Group - USA
- Central Electricity Authority - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- Power Finance Corporation Ltd., India
- Ministry of Finance - Indonesia
- Thai Mozambique Logistica
- Kaltim Prima Coal - Indonesia
- OPG Power Generation Pvt Ltd - India
- Australian Coal Association
- Kapuas Tunggal Persada - Indonesia
- Indian Energy Exchange, India
- Global Coal Blending Company Limited - Australia
- Africa Commodities Group - South Africa
- Banpu Public Company Limited - Thailand
- AsiaOL BioFuels Corp., Philippines
- Meralco Power Generation, Philippines
- Carbofer General Trading SA - India
- Simpson Spence & Young - Indonesia
- Ministry of Transport, Egypt
- Karbindo Abesyapradhi - Indoneisa
- Rashtriya Ispat Nigam Limited - India
- Semirara Mining Corp, Philippines
- Edison Trading Spa - Italy
- Commonwealth Bank - Australia
- Directorate Of Revenue Intelligence - India
- Eastern Energy - Thailand
- Straits Asia Resources Limited - Singapore
- Gujarat Mineral Development Corp Ltd - India
- International Coal Ventures Pvt Ltd - India
- The University of Queensland
- Bangladesh Power Developement Board
- Ambuja Cements Ltd - India
- Global Business Power Corporation, Philippines
- Indika Energy - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Sree Jayajothi Cements Limited - India
- Energy Link Ltd, New Zealand
- Kobexindo Tractors - Indoneisa
- Singapore Mercantile Exchange
- Independent Power Producers Association of India
- Sinarmas Energy and Mining - Indonesia
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