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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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Thursday, 13 October 22
OPEC DOWNGRADES CRUDE OIL DEMAND, AS WORLD ECONOMY ENTERS SLOWDOWN
Crude Oil Price Movements
The OPEC Reference Basket (ORB) declined m-o-m by $6.58 in September, or 6.5%, to average $95.32/b. Pressure from equ ...
Wednesday, 12 October 22
MARKET INSIGHT - INTERMODAL
Sale and Purchase activity during the first three quarters of 2022 has been remarkable.
Focusing only on Tankers and Bulkers, such v ...
Monday, 10 October 22
ENERGY TRANSITION BOOSTS GLOBAL LONG-TERM DEMAND FOR METALS - FITCH RATINGS
The energy transition will significantly increase demand for metals used in manufacturing of electric vehicles (EVs) and renewable power generation ...
Monday, 10 October 22
GLOBAL CEOS EXPECT IMPENDING RECESSION TO BE 'SHORT AND SHARP,' POLL SHOWS - CNBC
Global CEOs are anticipating a recession in the next 12 months, according to a new survey by professional services firm KPMG, which said more than ...
Thursday, 06 October 22
AUSTRALIA’S RESOURCES REVENUE TO HIT RECORD AMID UKRAINE CONFLICT - REUTERS
Australian resources and energy export earnings are forecast to jump 7% to a record A$450 billion ($290 billion) this fiscal year, bolstered by soa ...
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- Bharathi Cement Corporation - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- India Bulls Power Limited - India
- Thai Mozambique Logistica
- Wilmar Investment Holdings
- Uttam Galva Steels Limited - India
- Ministry of Transport, Egypt
- Coal and Oil Company - UAE
- GN Power Mariveles Coal Plant, Philippines
- Formosa Plastics Group - Taiwan
- Jaiprakash Power Ventures ltd
- San Jose City I Power Corp, Philippines
- CIMB Investment Bank - Malaysia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- TNB Fuel Sdn Bhd - Malaysia
- Samtan Co., Ltd - South Korea
- Star Paper Mills Limited - India
- International Coal Ventures Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Pendopo Energi Batubara - Indonesia
- IEA Clean Coal Centre - UK
- PetroVietnam Power Coal Import and Supply Company
- PowerSource Philippines DevCo
- Gujarat Mineral Development Corp Ltd - India
- Bhatia International Limited - India
- Carbofer General Trading SA - India
- Medco Energi Mining Internasional
- Africa Commodities Group - South Africa
- Interocean Group of Companies - India
- Orica Australia Pty. Ltd.
- LBH Netherlands Bv - Netherlands
- Attock Cement Pakistan Limited
- Meenaskhi Energy Private Limited - India
- Larsen & Toubro Limited - India
- Ministry of Finance - Indonesia
- Mercuria Energy - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Marubeni Corporation - India
- MS Steel International - UAE
- Edison Trading Spa - Italy
- Economic Council, Georgia
- Coastal Gujarat Power Limited - India
- Kideco Jaya Agung - Indonesia
- Simpson Spence & Young - Indonesia
- Banpu Public Company Limited - Thailand
- Ceylon Electricity Board - Sri Lanka
- Mjunction Services Limited - India
- Indo Tambangraya Megah - Indonesia
- Cement Manufacturers Association - India
- AsiaOL BioFuels Corp., Philippines
- Planning Commission, India
- Lanco Infratech Ltd - India
- Rio Tinto Coal - Australia
- Miang Besar Coal Terminal - Indonesia
- OPG Power Generation Pvt Ltd - India
- Bhushan Steel Limited - India
- Renaissance Capital - South Africa
- Agrawal Coal Company - India
- Leighton Contractors Pty Ltd - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Latin American Coal - Colombia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Iligan Light & Power Inc, Philippines
- Sree Jayajothi Cements Limited - India
- Ministry of Mines - Canada
- Kohat Cement Company Ltd. - Pakistan
- Coalindo Energy - Indonesia
- Commonwealth Bank - Australia
- Barasentosa Lestari - Indonesia
- Kumho Petrochemical, South Korea
- Binh Thuan Hamico - Vietnam
- New Zealand Coal & Carbon
- Heidelberg Cement - Germany
- Energy Link Ltd, New Zealand
- Kalimantan Lumbung Energi - Indonesia
- Oldendorff Carriers - Singapore
- Petron Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Australian Commodity Traders Exchange
- Salva Resources Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- Singapore Mercantile Exchange
- Timah Investasi Mineral - Indoneisa
- Sical Logistics Limited - India
- Chamber of Mines of South Africa
- ICICI Bank Limited - India
- Independent Power Producers Association of India
- Goldman Sachs - Singapore
- Borneo Indobara - Indonesia
- Bangladesh Power Developement Board
- Meralco Power Generation, Philippines
- Baramulti Group, Indonesia
- Port Waratah Coal Services - Australia
- Eastern Coal Council - USA
- PNOC Exploration Corporation - Philippines
- VISA Power Limited - India
- Aboitiz Power Corporation - Philippines
- Semirara Mining and Power Corporation, Philippines
- Parry Sugars Refinery, India
- Australian Coal Association
- Semirara Mining Corp, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Directorate Of Revenue Intelligence - India
- Malabar Cements Ltd - India
- Indian Energy Exchange, India
- McConnell Dowell - Australia
- Asmin Koalindo Tuhup - Indonesia
- GMR Energy Limited - India
- Rashtriya Ispat Nigam Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Minerals Council of Australia
- Sakthi Sugars Limited - India
- Therma Luzon, Inc, Philippines
- Bhoruka Overseas - Indonesia
- Madhucon Powers Ltd - India
- Energy Development Corp, Philippines
- Standard Chartered Bank - UAE
- Gujarat Sidhee Cement - India
- Petrochimia International Co. Ltd.- Taiwan
- Global Coal Blending Company Limited - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Georgia Ports Authority, United States
- Karbindo Abesyapradhi - Indoneisa
- Globalindo Alam Lestari - Indonesia
- Siam City Cement - Thailand
- Toyota Tsusho Corporation, Japan
- Vedanta Resources Plc - India
- Central Java Power - Indonesia
- Siam City Cement PLC, Thailand
- SMC Global Power, Philippines
- TeaM Sual Corporation - Philippines
- Jindal Steel & Power Ltd - India
- Anglo American - United Kingdom
- CNBM International Corporation - China
- Makarim & Taira - Indonesia
- Mintek Dendrill Indonesia
- Dalmia Cement Bharat India
- Grasim Industreis Ltd - India
- Altura Mining Limited, Indonesia
- IHS Mccloskey Coal Group - USA
- The Treasury - Australian Government
- Vijayanagar Sugar Pvt Ltd - India
- Parliament of New Zealand
- South Luzon Thermal Energy Corporation
- Vizag Seaport Private Limited - India
- PTC India Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Eastern Energy - Thailand
- Sinarmas Energy and Mining - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- White Energy Company Limited
- Mercator Lines Limited - India
- Wood Mackenzie - Singapore
- The University of Queensland
- European Bulk Services B.V. - Netherlands
- Tata Chemicals Ltd - India
- Bukit Makmur.PT - Indonesia
- The State Trading Corporation of India Ltd
- Deloitte Consulting - India
- Merrill Lynch Commodities Europe
- Holcim Trading Pte Ltd - Singapore
- Global Green Power PLC Corporation, Philippines
- Kepco SPC Power Corporation, Philippines
- Electricity Generating Authority of Thailand
- Sarangani Energy Corporation, Philippines
- Central Electricity Authority - India
- Price Waterhouse Coopers - Russia
- Billiton Holdings Pty Ltd - Australia
- Kobexindo Tractors - Indoneisa
- Xindia Steels Limited - India
- Ind-Barath Power Infra Limited - India
- Ambuja Cements Ltd - India
- London Commodity Brokers - England
- Straits Asia Resources Limited - Singapore
- Electricity Authority, New Zealand
- Aditya Birla Group - India
- Tamil Nadu electricity Board
- Kaltim Prima Coal - Indonesia
- GAC Shipping (India) Pvt Ltd
- Indogreen Group - Indonesia
- Videocon Industries ltd - India
- Bayan Resources Tbk. - Indonesia
- Sojitz Corporation - Japan
- Romanian Commodities Exchange
- Indian Oil Corporation Limited
- Metalloyd Limited - United Kingdom
- Manunggal Multi Energi - Indonesia
- Maheswari Brothers Coal Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indonesian Coal Mining Association
- Bukit Baiduri Energy - Indonesia
- Essar Steel Hazira Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kartika Selabumi Mining - Indonesia
- Global Business Power Corporation, Philippines
- SMG Consultants - Indonesia
- Antam Resourcindo - Indonesia
- Indika Energy - Indonesia
- SN Aboitiz Power Inc, Philippines
- Power Finance Corporation Ltd., India
- Chettinad Cement Corporation Ltd - India
- Savvy Resources Ltd - HongKong
- Trasteel International SA, Italy
- Thiess Contractors Indonesia
- GVK Power & Infra Limited - India
- Sindya Power Generating Company Private Ltd
- Directorate General of MIneral and Coal - Indonesia
- Intertek Mineral Services - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Orica Mining Services - Indonesia
- Karaikal Port Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Maharashtra Electricity Regulatory Commission - India
- Posco Energy - South Korea
- Gujarat Electricity Regulatory Commission - India
- Riau Bara Harum - Indonesia
- ASAPP Information Group - India
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