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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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Friday, 18 November 22
REALITIES OF LOI LIABILITIES - BALTIC EXCHANGE
KNOWLEDGE TO ELEVATE
The cargo misdelivery claim in Trafigura Maritime Logistics Pte Ltd v. Clearlake Shipping Pte Ltd (Miracle Hope) [2022] E ...
Tuesday, 15 November 22
CHINA SEES RISING COAL STORAGE AMID SUPPLY PUSH - XINHUA
Coal stockpiles at China’s power plants have seen considerable increases, ensuring energy supply for the winter, the country’s energy r ...
Tuesday, 15 November 22
SEABORNE THERMAL COAL PRICES START TO EASE, BUT PROCESS IS UNEVEN - REUTERS
Prices for seaborne thermal coal have started to drop as fears of a winter energy crunch ease, but the rate of decline has varied across the differ ...
Thursday, 10 November 22
INDIA: THERMAL PLANTS HAVE ADEQUATE COAL STOCKS AT 25.6 MILLION TONNES, SAYS GOVT - IANS
The coal stock with domestic dry fuel-based power plants, as on October 31, was 25.6 million tonnes, the government said, adding that the availabil ...
Tuesday, 08 November 22
OUTLOOK ON CHINA’S WEAKENED BASIC MATERIALS SECTOR CLOUDED BY POLICY SWINGS - FITCH RATINGS
Fitch Ratings expects basic materials demand in China to improve qoq in 4Q22, driven by seasonally higher construction activity, solid infrastructu ...
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- Karaikal Port Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- MS Steel International - UAE
- Coastal Gujarat Power Limited - India
- London Commodity Brokers - England
- Gujarat Sidhee Cement - India
- Vijayanagar Sugar Pvt Ltd - India
- Medco Energi Mining Internasional
- Kideco Jaya Agung - Indonesia
- Formosa Plastics Group - Taiwan
- Vizag Seaport Private Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Coalindo Energy - Indonesia
- Parliament of New Zealand
- Electricity Authority, New Zealand
- OPG Power Generation Pvt Ltd - India
- Latin American Coal - Colombia
- Merrill Lynch Commodities Europe
- Ceylon Electricity Board - Sri Lanka
- Central Java Power - Indonesia
- Coal and Oil Company - UAE
- Vedanta Resources Plc - India
- Ministry of Transport, Egypt
- Bharathi Cement Corporation - India
- Indonesian Coal Mining Association
- Binh Thuan Hamico - Vietnam
- Global Coal Blending Company Limited - Australia
- Jorong Barutama Greston.PT - Indonesia
- Goldman Sachs - Singapore
- Grasim Industreis Ltd - India
- ASAPP Information Group - India
- Meenaskhi Energy Private Limited - India
- Bulk Trading Sa - Switzerland
- Siam City Cement - Thailand
- Indika Energy - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Meralco Power Generation, Philippines
- Billiton Holdings Pty Ltd - Australia
- SMC Global Power, Philippines
- Minerals Council of Australia
- PetroVietnam Power Coal Import and Supply Company
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Miang Besar Coal Terminal - Indonesia
- White Energy Company Limited
- Offshore Bulk Terminal Pte Ltd, Singapore
- Rio Tinto Coal - Australia
- Manunggal Multi Energi - Indonesia
- PNOC Exploration Corporation - Philippines
- McConnell Dowell - Australia
- International Coal Ventures Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- Parry Sugars Refinery, India
- Indo Tambangraya Megah - Indonesia
- Bhushan Steel Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Africa Commodities Group - South Africa
- Cigading International Bulk Terminal - Indonesia
- Central Electricity Authority - India
- CNBM International Corporation - China
- Edison Trading Spa - Italy
- GVK Power & Infra Limited - India
- Metalloyd Limited - United Kingdom
- Kaltim Prima Coal - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Orica Australia Pty. Ltd.
- Electricity Generating Authority of Thailand
- Siam City Cement PLC, Thailand
- Bukit Baiduri Energy - Indonesia
- Lanco Infratech Ltd - India
- Straits Asia Resources Limited - Singapore
- Gujarat Mineral Development Corp Ltd - India
- PTC India Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- South Luzon Thermal Energy Corporation
- Orica Mining Services - Indonesia
- Bukit Makmur.PT - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Energy Link Ltd, New Zealand
- Videocon Industries ltd - India
- Star Paper Mills Limited - India
- Heidelberg Cement - Germany
- Bhatia International Limited - India
- Barasentosa Lestari - Indonesia
- Xindia Steels Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Oldendorff Carriers - Singapore
- VISA Power Limited - India
- Georgia Ports Authority, United States
- Holcim Trading Pte Ltd - Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- Madhucon Powers Ltd - India
- Bayan Resources Tbk. - Indonesia
- Mjunction Services Limited - India
- Posco Energy - South Korea
- Tamil Nadu electricity Board
- Petron Corporation, Philippines
- Bhoruka Overseas - Indonesia
- Samtan Co., Ltd - South Korea
- Dalmia Cement Bharat India
- Power Finance Corporation Ltd., India
- Timah Investasi Mineral - Indoneisa
- GAC Shipping (India) Pvt Ltd
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Neyveli Lignite Corporation Ltd, - India
- Indian Energy Exchange, India
- Riau Bara Harum - Indonesia
- Baramulti Group, Indonesia
- Standard Chartered Bank - UAE
- TeaM Sual Corporation - Philippines
- Larsen & Toubro Limited - India
- Maheswari Brothers Coal Limited - India
- Deloitte Consulting - India
- Karbindo Abesyapradhi - Indoneisa
- Australian Coal Association
- Bahari Cakrawala Sebuku - Indonesia
- PowerSource Philippines DevCo
- Pendopo Energi Batubara - Indonesia
- Attock Cement Pakistan Limited
- Semirara Mining Corp, Philippines
- Mercator Lines Limited - India
- Maharashtra Electricity Regulatory Commission - India
- TNB Fuel Sdn Bhd - Malaysia
- Tata Chemicals Ltd - India
- Thiess Contractors Indonesia
- Marubeni Corporation - India
- San Jose City I Power Corp, Philippines
- Directorate Of Revenue Intelligence - India
- Savvy Resources Ltd - HongKong
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Eastern Energy - Thailand
- Independent Power Producers Association of India
- Anglo American - United Kingdom
- ICICI Bank Limited - India
- Ambuja Cements Ltd - India
- Australian Commodity Traders Exchange
- Gujarat Electricity Regulatory Commission - India
- Jindal Steel & Power Ltd - India
- Romanian Commodities Exchange
- Sical Logistics Limited - India
- Economic Council, Georgia
- Energy Development Corp, Philippines
- European Bulk Services B.V. - Netherlands
- Kartika Selabumi Mining - Indonesia
- Kepco SPC Power Corporation, Philippines
- Indogreen Group - Indonesia
- Global Business Power Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- New Zealand Coal & Carbon
- Makarim & Taira - Indonesia
- Intertek Mineral Services - Indonesia
- GMR Energy Limited - India
- Commonwealth Bank - Australia
- IHS Mccloskey Coal Group - USA
- SMG Consultants - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Chettinad Cement Corporation Ltd - India
- Sojitz Corporation - Japan
- Uttam Galva Steels Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Mintek Dendrill Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Aditya Birla Group - India
- Interocean Group of Companies - India
- Mercuria Energy - Indonesia
- Thai Mozambique Logistica
- Altura Mining Limited, Indonesia
- LBH Netherlands Bv - Netherlands
- Borneo Indobara - Indonesia
- Planning Commission, India
- Ministry of Mines - Canada
- Renaissance Capital - South Africa
- Price Waterhouse Coopers - Russia
- Trasteel International SA, Italy
- The Treasury - Australian Government
- Banpu Public Company Limited - Thailand
- AsiaOL BioFuels Corp., Philippines
- Kobexindo Tractors - Indoneisa
- Rashtriya Ispat Nigam Limited - India
- Wood Mackenzie - Singapore
- Singapore Mercantile Exchange
- The State Trading Corporation of India Ltd
- Ministry of Finance - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Agrawal Coal Company - India
- Port Waratah Coal Services - Australia
- India Bulls Power Limited - India
- Sree Jayajothi Cements Limited - India
- Globalindo Alam Lestari - Indonesia
- IEA Clean Coal Centre - UK
- Carbofer General Trading SA - India
- Indian Oil Corporation Limited
- SN Aboitiz Power Inc, Philippines
- Salva Resources Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- Essar Steel Hazira Ltd - India
- CIMB Investment Bank - Malaysia
- Wilmar Investment Holdings
- Chamber of Mines of South Africa
- Iligan Light & Power Inc, Philippines
- Malabar Cements Ltd - India
- Bangladesh Power Developement Board
- Eastern Coal Council - USA
- Simpson Spence & Young - Indonesia
- Therma Luzon, Inc, Philippines
- Jaiprakash Power Ventures ltd
- Sakthi Sugars Limited - India
- Toyota Tsusho Corporation, Japan
- Sinarmas Energy and Mining - Indonesia
- Kumho Petrochemical, South Korea
- Global Green Power PLC Corporation, Philippines
- The University of Queensland
- Cement Manufacturers Association - India
- Antam Resourcindo - Indonesia
- Kohat Cement Company Ltd. - Pakistan
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