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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, 04 November 22
CHINA EXPANDS COAL TERM CONTRACTS TO ALL MINES TO STABILIZE MARKET - REUTERS
China has expanded long-term thermal coal supply contracts for 2023 to all coal mines and asked power utilities to source more of their demand thro ...
Thursday, 03 November 22
HANDYSIZE VALUES MOVING UP IN OCTOBER, WHILE LNG VALUES SKYROCKET - VESSELSVALUE
Handysize values have increased this month across most ages, following a period of decline. Values for generic 10 year old Handysizes have moved up ...
Thursday, 03 November 22
EUROPEAN GAS SUPPLY SURPLUS, NOVEMBER HBA DOWN TO US$ 308.2 PER TON - ESDM
European gas supply conditions have a major influence in determining fluctuations in the Reference Coal Price (HBA). The November 2022 HBA recorded ...
Wednesday, 02 November 22
MARKET INSIGHT - INTERMODAL
Only five weeks before western sanctions’ full effect, uncertainty over energy has markets and governments on the edge. What was initially th ...
Tuesday, 01 November 22
CHINA COAL TRADE DISRUPTED BY COVID OUTBREAKS AS WINTER LOOMS - REUTERS
China’s strict COVID-19 policy is constraining coal supplies and pushing up prices, industry officials and traders say, just weeks before the ...
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- Simpson Spence & Young - Indonesia
- Coalindo Energy - Indonesia
- LBH Netherlands Bv - Netherlands
- Kideco Jaya Agung - Indonesia
- SMG Consultants - Indonesia
- Sinarmas Energy and Mining - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Indogreen Group - Indonesia
- GMR Energy Limited - India
- Indian Energy Exchange, India
- Jindal Steel & Power Ltd - India
- Rio Tinto Coal - Australia
- Kapuas Tunggal Persada - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Power Finance Corporation Ltd., India
- Kalimantan Lumbung Energi - Indonesia
- White Energy Company Limited
- McConnell Dowell - Australia
- Altura Mining Limited, Indonesia
- Ministry of Mines - Canada
- Grasim Industreis Ltd - India
- Salva Resources Pvt Ltd - India
- PowerSource Philippines DevCo
- Essar Steel Hazira Ltd - India
- Maheswari Brothers Coal Limited - India
- Ceylon Electricity Board - Sri Lanka
- Barasentosa Lestari - Indonesia
- Goldman Sachs - Singapore
- Riau Bara Harum - Indonesia
- Economic Council, Georgia
- Attock Cement Pakistan Limited
- Agrawal Coal Company - India
- Baramulti Group, Indonesia
- Bayan Resources Tbk. - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Aboitiz Power Corporation - Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Posco Energy - South Korea
- Kobexindo Tractors - Indoneisa
- Banpu Public Company Limited - Thailand
- Gujarat Mineral Development Corp Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Orica Australia Pty. Ltd.
- Cement Manufacturers Association - India
- Energy Link Ltd, New Zealand
- Sojitz Corporation - Japan
- Mjunction Services Limited - India
- Price Waterhouse Coopers - Russia
- Chettinad Cement Corporation Ltd - India
- GVK Power & Infra Limited - India
- Renaissance Capital - South Africa
- Iligan Light & Power Inc, Philippines
- Ind-Barath Power Infra Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Mintek Dendrill Indonesia
- Sree Jayajothi Cements Limited - India
- Latin American Coal - Colombia
- Indika Energy - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- The State Trading Corporation of India Ltd
- Timah Investasi Mineral - Indoneisa
- Trasteel International SA, Italy
- Directorate General of MIneral and Coal - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Mercuria Energy - Indonesia
- Kaltim Prima Coal - Indonesia
- Cigading International Bulk Terminal - Indonesia
- PNOC Exploration Corporation - Philippines
- Carbofer General Trading SA - India
- Rashtriya Ispat Nigam Limited - India
- Siam City Cement PLC, Thailand
- Bhatia International Limited - India
- Australian Coal Association
- Orica Mining Services - Indonesia
- South Luzon Thermal Energy Corporation
- Mercator Lines Limited - India
- Siam City Cement - Thailand
- Bukit Asam (Persero) Tbk - Indonesia
- Therma Luzon, Inc, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Aditya Birla Group - India
- Miang Besar Coal Terminal - Indonesia
- Global Green Power PLC Corporation, Philippines
- Petron Corporation, Philippines
- Xindia Steels Limited - India
- Madhucon Powers Ltd - India
- Singapore Mercantile Exchange
- Binh Thuan Hamico - Vietnam
- Minerals Council of Australia
- Vedanta Resources Plc - India
- Energy Development Corp, Philippines
- Marubeni Corporation - India
- Global Business Power Corporation, Philippines
- Metalloyd Limited - United Kingdom
- Uttam Galva Steels Limited - India
- Port Waratah Coal Services - Australia
- Meralco Power Generation, Philippines
- Formosa Plastics Group - Taiwan
- Parry Sugars Refinery, India
- Merrill Lynch Commodities Europe
- Toyota Tsusho Corporation, Japan
- Africa Commodities Group - South Africa
- Coal and Oil Company - UAE
- Romanian Commodities Exchange
- Sindya Power Generating Company Private Ltd
- Gujarat Electricity Regulatory Commission - India
- Kumho Petrochemical, South Korea
- Ambuja Cements Ltd - India
- Eastern Energy - Thailand
- Thai Mozambique Logistica
- Interocean Group of Companies - India
- Australian Commodity Traders Exchange
- TeaM Sual Corporation - Philippines
- Sarangani Energy Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- Bharathi Cement Corporation - India
- Electricity Generating Authority of Thailand
- Bukit Baiduri Energy - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Coastal Gujarat Power Limited - India
- Vizag Seaport Private Limited - India
- Holcim Trading Pte Ltd - Singapore
- Bangladesh Power Developement Board
- Gujarat Sidhee Cement - India
- The Treasury - Australian Government
- VISA Power Limited - India
- AsiaOL BioFuels Corp., Philippines
- Dalmia Cement Bharat India
- Bulk Trading Sa - Switzerland
- Central Java Power - Indonesia
- Indo Tambangraya Megah - Indonesia
- Jaiprakash Power Ventures ltd
- Eastern Coal Council - USA
- Independent Power Producers Association of India
- Tamil Nadu electricity Board
- Electricity Authority, New Zealand
- Edison Trading Spa - Italy
- Karaikal Port Pvt Ltd - India
- Heidelberg Cement - Germany
- Tata Chemicals Ltd - India
- Global Coal Blending Company Limited - Australia
- Pendopo Energi Batubara - Indonesia
- Samtan Co., Ltd - South Korea
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Commonwealth Bank - Australia
- GAC Shipping (India) Pvt Ltd
- Sakthi Sugars Limited - India
- MS Steel International - UAE
- Star Paper Mills Limited - India
- Wilmar Investment Holdings
- Bank of Tokyo Mitsubishi UFJ Ltd
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Ministry of Transport, Egypt
- IHS Mccloskey Coal Group - USA
- Pipit Mutiara Jaya. PT, Indonesia
- Planning Commission, India
- Anglo American - United Kingdom
- Wood Mackenzie - Singapore
- Karbindo Abesyapradhi - Indoneisa
- Krishnapatnam Port Company Ltd. - India
- Maharashtra Electricity Regulatory Commission - India
- New Zealand Coal & Carbon
- Videocon Industries ltd - India
- Oldendorff Carriers - Singapore
- Medco Energi Mining Internasional
- London Commodity Brokers - England
- Asmin Koalindo Tuhup - Indonesia
- Central Electricity Authority - India
- CIMB Investment Bank - Malaysia
- Antam Resourcindo - Indonesia
- SN Aboitiz Power Inc, Philippines
- The University of Queensland
- PTC India Limited - India
- Thiess Contractors Indonesia
- Straits Asia Resources Limited - Singapore
- SMC Global Power, Philippines
- Globalindo Alam Lestari - Indonesia
- Georgia Ports Authority, United States
- Ministry of Finance - Indonesia
- Deloitte Consulting - India
- Intertek Mineral Services - Indonesia
- Indonesian Coal Mining Association
- Savvy Resources Ltd - HongKong
- Borneo Indobara - Indonesia
- Standard Chartered Bank - UAE
- Neyveli Lignite Corporation Ltd, - India
- Malabar Cements Ltd - India
- Makarim & Taira - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Indian Oil Corporation Limited
- Kartika Selabumi Mining - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- ASAPP Information Group - India
- Bukit Makmur.PT - Indonesia
- San Jose City I Power Corp, Philippines
- Kepco SPC Power Corporation, Philippines
- IEA Clean Coal Centre - UK
- CNBM International Corporation - China
- Semirara Mining and Power Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- International Coal Ventures Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- ICICI Bank Limited - India
- Manunggal Multi Energi - Indonesia
- Meenaskhi Energy Private Limited - India
- Bhoruka Overseas - Indonesia
- Bhushan Steel Limited - India
- Chamber of Mines of South Africa
- Directorate Of Revenue Intelligence - India
- Lanco Infratech Ltd - India
- Parliament of New Zealand
- Sical Logistics Limited - India
- Semirara Mining Corp, Philippines
- Larsen & Toubro Limited - India
- India Bulls Power Limited - India
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