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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, 19 October 22
WHAT WILL THE GAS MARKET LOOK LIKE IN A NET ZERO WORLD? - WOOD MACKENZIE
The global gas and LNG market faces a number of ‘great unknowns’. With the market in turmoil uncertainty abounds – from the scale ...
Wednesday, 19 October 22
MARKET INSIGHT - INTERMODAL
The LNG market remains extremely tight, and as a result adding further pressure on the vessel charter market, which is already stretched due to the ...
Sunday, 16 October 22
COULD A RETURN TO SHALE EXPLORATION BE PART OF THE SOLUTION TO EUROPE'S GAS SUPPLY PROBLEM? - WOOD MACKENZIE
The European gas market is in turmoil. Russia’s invasion of Ukraine has shaken things up, triggering a complete rethink of European energy st ...
Thursday, 13 October 22
THERMAL COAL PRICES RETREAT AS WINTER SUPPLY FEARS EASE - REUTERS
The prices of key thermal seaborne coal grades are retreating amid signs that supplies will be sufficient to meet winter demand in both Europe and ...
Thursday, 13 October 22
SPOT COAL BIDDING: CHINESE FIRM WANTS REVISED MECHANISM - BUSINESS RECORDER
Chinese company M/s Huaneng Shandong Ruyi (Pakistan) Energy Limited (HSR) has cautioned National Electric Power Regulatory Authority (Nepra) that i ...
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- Gujarat Sidhee Cement - India
- The State Trading Corporation of India Ltd
- Interocean Group of Companies - India
- Rashtriya Ispat Nigam Limited - India
- Africa Commodities Group - South Africa
- Energy Link Ltd, New Zealand
- OPG Power Generation Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Electricity Authority, New Zealand
- Attock Cement Pakistan Limited
- Eastern Energy - Thailand
- Australian Coal Association
- ASAPP Information Group - India
- Meenaskhi Energy Private Limited - India
- Ambuja Cements Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Romanian Commodities Exchange
- Riau Bara Harum - Indonesia
- Meralco Power Generation, Philippines
- SN Aboitiz Power Inc, Philippines
- Mercuria Energy - Indonesia
- Jaiprakash Power Ventures ltd
- IEA Clean Coal Centre - UK
- Edison Trading Spa - Italy
- PNOC Exploration Corporation - Philippines
- Electricity Generating Authority of Thailand
- Global Business Power Corporation, Philippines
- Planning Commission, India
- Borneo Indobara - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Cigading International Bulk Terminal - Indonesia
- Wilmar Investment Holdings
- Thai Mozambique Logistica
- Makarim & Taira - Indonesia
- Orica Mining Services - Indonesia
- Therma Luzon, Inc, Philippines
- Indian Energy Exchange, India
- Kohat Cement Company Ltd. - Pakistan
- London Commodity Brokers - England
- Kalimantan Lumbung Energi - Indonesia
- The University of Queensland
- South Luzon Thermal Energy Corporation
- Bayan Resources Tbk. - Indonesia
- Videocon Industries ltd - India
- Jindal Steel & Power Ltd - India
- Directorate Of Revenue Intelligence - India
- Anglo American - United Kingdom
- Trasteel International SA, Italy
- Bhoruka Overseas - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Directorate General of MIneral and Coal - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Baramulti Group, Indonesia
- Medco Energi Mining Internasional
- Iligan Light & Power Inc, Philippines
- Bangladesh Power Developement Board
- Uttam Galva Steels Limited - India
- Chamber of Mines of South Africa
- Kaltim Prima Coal - Indonesia
- Australian Commodity Traders Exchange
- Savvy Resources Ltd - HongKong
- ICICI Bank Limited - India
- Minerals Council of Australia
- Dalmia Cement Bharat India
- Banpu Public Company Limited - Thailand
- Kideco Jaya Agung - Indonesia
- Kepco SPC Power Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- GVK Power & Infra Limited - India
- Tata Chemicals Ltd - India
- New Zealand Coal & Carbon
- Renaissance Capital - South Africa
- Sindya Power Generating Company Private Ltd
- GMR Energy Limited - India
- Sical Logistics Limited - India
- Kartika Selabumi Mining - Indonesia
- Ministry of Finance - Indonesia
- Price Waterhouse Coopers - Russia
- Mercator Lines Limited - India
- Timah Investasi Mineral - Indoneisa
- Sinarmas Energy and Mining - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Madhucon Powers Ltd - India
- White Energy Company Limited
- European Bulk Services B.V. - Netherlands
- Central Java Power - Indonesia
- Orica Australia Pty. Ltd.
- Coal and Oil Company - UAE
- Vizag Seaport Private Limited - India
- Ceylon Electricity Board - Sri Lanka
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Rio Tinto Coal - Australia
- Kumho Petrochemical, South Korea
- Maheswari Brothers Coal Limited - India
- Posco Energy - South Korea
- Mjunction Services Limited - India
- Merrill Lynch Commodities Europe
- Bhatia International Limited - India
- Deloitte Consulting - India
- Bukit Makmur.PT - Indonesia
- Aditya Birla Group - India
- Coastal Gujarat Power Limited - India
- GAC Shipping (India) Pvt Ltd
- Indonesian Coal Mining Association
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indian Oil Corporation Limited
- Malabar Cements Ltd - India
- McConnell Dowell - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Essar Steel Hazira Ltd - India
- Parliament of New Zealand
- Globalindo Alam Lestari - Indonesia
- Karaikal Port Pvt Ltd - India
- MS Steel International - UAE
- Indo Tambangraya Megah - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Salva Resources Pvt Ltd - India
- Coalindo Energy - Indonesia
- Marubeni Corporation - India
- Antam Resourcindo - Indonesia
- Standard Chartered Bank - UAE
- Xindia Steels Limited - India
- Holcim Trading Pte Ltd - Singapore
- IHS Mccloskey Coal Group - USA
- Independent Power Producers Association of India
- Simpson Spence & Young - Indonesia
- Carbofer General Trading SA - India
- Jorong Barutama Greston.PT - Indonesia
- Siam City Cement PLC, Thailand
- Manunggal Multi Energi - Indonesia
- Petron Corporation, Philippines
- Lanco Infratech Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Oldendorff Carriers - Singapore
- Straits Asia Resources Limited - Singapore
- PowerSource Philippines DevCo
- Leighton Contractors Pty Ltd - Australia
- Intertek Mineral Services - Indonesia
- Global Coal Blending Company Limited - Australia
- CIMB Investment Bank - Malaysia
- LBH Netherlands Bv - Netherlands
- Bukit Baiduri Energy - Indonesia
- Tamil Nadu electricity Board
- Indika Energy - Indonesia
- Grasim Industreis Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- International Coal Ventures Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Asmin Koalindo Tuhup - Indonesia
- Thiess Contractors Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- Global Green Power PLC Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- SMG Consultants - Indonesia
- Cement Manufacturers Association - India
- Siam City Cement - Thailand
- Bhushan Steel Limited - India
- Eastern Coal Council - USA
- Billiton Holdings Pty Ltd - Australia
- Samtan Co., Ltd - South Korea
- Mintek Dendrill Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sakthi Sugars Limited - India
- Sarangani Energy Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Bukit Asam (Persero) Tbk - Indonesia
- TeaM Sual Corporation - Philippines
- Gujarat Mineral Development Corp Ltd - India
- San Jose City I Power Corp, Philippines
- Toyota Tsusho Corporation, Japan
- Barasentosa Lestari - Indonesia
- Ministry of Mines - Canada
- Indogreen Group - Indonesia
- Goldman Sachs - Singapore
- Agrawal Coal Company - India
- Star Paper Mills Limited - India
- Binh Thuan Hamico - Vietnam
- Kobexindo Tractors - Indoneisa
- Latin American Coal - Colombia
- Economic Council, Georgia
- Semirara Mining and Power Corporation, Philippines
- Singapore Mercantile Exchange
- Semirara Mining Corp, Philippines
- Kapuas Tunggal Persada - Indonesia
- Pendopo Energi Batubara - Indonesia
- The Treasury - Australian Government
- Larsen & Toubro Limited - India
- Miang Besar Coal Terminal - Indonesia
- Formosa Plastics Group - Taiwan
- Aboitiz Power Corporation - Philippines
- Bulk Trading Sa - Switzerland
- Commonwealth Bank - Australia
- Altura Mining Limited, Indonesia
- Parry Sugars Refinery, India
- India Bulls Power Limited - India
- SMC Global Power, Philippines
- Metalloyd Limited - United Kingdom
- Vijayanagar Sugar Pvt Ltd - India
- Sojitz Corporation - Japan
- Heidelberg Cement - Germany
- CNBM International Corporation - China
- Port Waratah Coal Services - Australia
- Georgia Ports Authority, United States
- Power Finance Corporation Ltd., India
- Maharashtra Electricity Regulatory Commission - India
- Neyveli Lignite Corporation Ltd, - India
- Energy Development Corp, Philippines
- Ministry of Transport, Egypt
- Central Electricity Authority - India
- Karbindo Abesyapradhi - Indoneisa
- PTC India Limited - India
- Vedanta Resources Plc - India
- Wood Mackenzie - Singapore
- VISA Power Limited - India
- Bharathi Cement Corporation - India
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