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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, 04 October 22
INDONESIAN COAL PRICE REFERENCE SURGE AGAIN TO RECORD HIGH
COALspot.com: Indonesian Coal Price Reference reached another record high in October as Russia's war in Ukraine continues to spark a surge in c ...
Sunday, 02 October 22
MISC STRENGTHENS ITS PARTNERSHIP WITH SEARIVER MARITIME
MISC Berhad (MISC) today announced that its subsidiaries Polaris LNG Three Pte. Ltd. and Polaris LNG Four Pte. Ltd. have secured long-term time cha ...
Thursday, 29 September 22
MARKET INSIGHT - INTERMODAL
This week, focus turns to the 38th APPEC Conference, where leading professionals from the global oil industry will discuss the future key drivers o ...
Thursday, 29 September 22
HIGH COAL PRICES REMAIN A CONCERN FOR DOMESTIC NON-FERROUS METAL COMPANIES - ICRA
According to ICRA on Monday, the high price of coal will have a negative effect on the profitability of domestic non-ferrous metal companies that m ...
Tuesday, 27 September 22
14% INCREASE IN EUROPEAN COAL DEMAND TO BE SHORT-TERM TREND - WOOD MACKENZIE
European seaborne thermal coal demand is projected to increase 14% or 12 million metric tonnes (Mt) this year to 98 Mt as it grapples with the curr ...
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- SMC Global Power, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Bukit Makmur.PT - Indonesia
- Sarangani Energy Corporation, Philippines
- Uttam Galva Steels Limited - India
- New Zealand Coal & Carbon
- Carbofer General Trading SA - India
- Formosa Plastics Group - Taiwan
- Salva Resources Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- South Luzon Thermal Energy Corporation
- Electricity Generating Authority of Thailand
- Singapore Mercantile Exchange
- Economic Council, Georgia
- Kideco Jaya Agung - Indonesia
- Siam City Cement PLC, Thailand
- Edison Trading Spa - Italy
- SMG Consultants - Indonesia
- ASAPP Information Group - India
- Wilmar Investment Holdings
- The University of Queensland
- TeaM Sual Corporation - Philippines
- Bhatia International Limited - India
- Bukit Baiduri Energy - Indonesia
- Cement Manufacturers Association - India
- Malabar Cements Ltd - India
- Videocon Industries ltd - India
- Renaissance Capital - South Africa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- OPG Power Generation Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- Semirara Mining Corp, Philippines
- Bhushan Steel Limited - India
- Leighton Contractors Pty Ltd - Australia
- Toyota Tsusho Corporation, Japan
- Coastal Gujarat Power Limited - India
- Chettinad Cement Corporation Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Aboitiz Power Corporation - Philippines
- Kaltim Prima Coal - Indonesia
- Indo Tambangraya Megah - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Barasentosa Lestari - Indonesia
- Savvy Resources Ltd - HongKong
- Parliament of New Zealand
- Parry Sugars Refinery, India
- PTC India Limited - India
- Intertek Mineral Services - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- PNOC Exploration Corporation - Philippines
- Borneo Indobara - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Merrill Lynch Commodities Europe
- Sojitz Corporation - Japan
- Ceylon Electricity Board - Sri Lanka
- Central Electricity Authority - India
- Sindya Power Generating Company Private Ltd
- Directorate Of Revenue Intelligence - India
- Global Coal Blending Company Limited - Australia
- Romanian Commodities Exchange
- Energy Link Ltd, New Zealand
- Rashtriya Ispat Nigam Limited - India
- Central Java Power - Indonesia
- Karaikal Port Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- GAC Shipping (India) Pvt Ltd
- Bank of Tokyo Mitsubishi UFJ Ltd
- Mercuria Energy - Indonesia
- European Bulk Services B.V. - Netherlands
- Holcim Trading Pte Ltd - Singapore
- Attock Cement Pakistan Limited
- Baramulti Group, Indonesia
- Bharathi Cement Corporation - India
- Electricity Authority, New Zealand
- IHS Mccloskey Coal Group - USA
- Straits Asia Resources Limited - Singapore
- Meralco Power Generation, Philippines
- Australian Commodity Traders Exchange
- The State Trading Corporation of India Ltd
- CNBM International Corporation - China
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Vizag Seaport Private Limited - India
- Thai Mozambique Logistica
- Global Business Power Corporation, Philippines
- Riau Bara Harum - Indonesia
- Simpson Spence & Young - Indonesia
- Essar Steel Hazira Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Lanco Infratech Ltd - India
- Altura Mining Limited, Indonesia
- Pendopo Energi Batubara - Indonesia
- Meenaskhi Energy Private Limited - India
- Sinarmas Energy and Mining - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Gujarat Sidhee Cement - India
- Neyveli Lignite Corporation Ltd, - India
- Petron Corporation, Philippines
- Sakthi Sugars Limited - India
- Australian Coal Association
- Deloitte Consulting - India
- Bhoruka Overseas - Indonesia
- Iligan Light & Power Inc, Philippines
- Globalindo Alam Lestari - Indonesia
- Samtan Co., Ltd - South Korea
- Tata Chemicals Ltd - India
- Agrawal Coal Company - India
- Makarim & Taira - Indonesia
- Thiess Contractors Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Power Finance Corporation Ltd., India
- Bayan Resources Tbk. - Indonesia
- Ministry of Transport, Egypt
- MS Steel International - UAE
- IEA Clean Coal Centre - UK
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- Jorong Barutama Greston.PT - Indonesia
- White Energy Company Limited
- Kumho Petrochemical, South Korea
- Gujarat Electricity Regulatory Commission - India
- Marubeni Corporation - India
- Georgia Ports Authority, United States
- Aditya Birla Group - India
- Timah Investasi Mineral - Indoneisa
- Semirara Mining and Power Corporation, Philippines
- Coalindo Energy - Indonesia
- Binh Thuan Hamico - Vietnam
- Vedanta Resources Plc - India
- Coal and Oil Company - UAE
- Eastern Coal Council - USA
- Sical Logistics Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Rio Tinto Coal - Australia
- Larsen & Toubro Limited - India
- Indogreen Group - Indonesia
- SN Aboitiz Power Inc, Philippines
- Ministry of Finance - Indonesia
- Indika Energy - Indonesia
- Chamber of Mines of South Africa
- Cigading International Bulk Terminal - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Jindal Steel & Power Ltd - India
- Bangladesh Power Developement Board
- Jaiprakash Power Ventures ltd
- Billiton Holdings Pty Ltd - Australia
- Therma Luzon, Inc, Philippines
- Posco Energy - South Korea
- London Commodity Brokers - England
- Wood Mackenzie - Singapore
- Dalmia Cement Bharat India
- Commonwealth Bank - Australia
- VISA Power Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Mintek Dendrill Indonesia
- Price Waterhouse Coopers - Russia
- Maharashtra Electricity Regulatory Commission - India
- Interocean Group of Companies - India
- Kobexindo Tractors - Indoneisa
- Tamil Nadu electricity Board
- Xindia Steels Limited - India
- Heidelberg Cement - Germany
- Mercator Lines Limited - India
- Krishnapatnam Port Company Ltd. - India
- Indian Oil Corporation Limited
- Eastern Energy - Thailand
- Anglo American - United Kingdom
- Sree Jayajothi Cements Limited - India
- Star Paper Mills Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Indonesian Coal Mining Association
- Madhucon Powers Ltd - India
- Maheswari Brothers Coal Limited - India
- AsiaOL BioFuels Corp., Philippines
- Manunggal Multi Energi - Indonesia
- Independent Power Producers Association of India
- Goldman Sachs - Singapore
- Bahari Cakrawala Sebuku - Indonesia
- San Jose City I Power Corp, Philippines
- India Bulls Power Limited - India
- Ministry of Mines - Canada
- Trasteel International SA, Italy
- Bulk Trading Sa - Switzerland
- Orica Mining Services - Indonesia
- Antam Resourcindo - Indonesia
- Kepco SPC Power Corporation, Philippines
- ICICI Bank Limited - India
- Grasim Industreis Ltd - India
- Africa Commodities Group - South Africa
- Energy Development Corp, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Port Waratah Coal Services - Australia
- Kartika Selabumi Mining - Indonesia
- Alfred C Toepfer International GmbH - Germany
- CIMB Investment Bank - Malaysia
- Medco Energi Mining Internasional
- Orica Australia Pty. Ltd.
- Standard Chartered Bank - UAE
- The Treasury - Australian Government
- Indian Energy Exchange, India
- GMR Energy Limited - India
- Ambuja Cements Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Mjunction Services Limited - India
- Planning Commission, India
- Oldendorff Carriers - Singapore
- PowerSource Philippines DevCo
- Global Green Power PLC Corporation, Philippines
- Minerals Council of Australia
- Siam City Cement - Thailand
- McConnell Dowell - Australia
- Kapuas Tunggal Persada - Indonesia
- Ind-Barath Power Infra Limited - India
- Latin American Coal - Colombia
- Vijayanagar Sugar Pvt Ltd - India
- GVK Power & Infra Limited - India
- International Coal Ventures Pvt Ltd - India
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