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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, 23 September 22
CHINA DIGS DEEP TO RAISE COAL OUTPUT TO RECORD HIGH - REUTERS
China’s coal production has surged this year as the government seeks to improve energy security by reducing dependence on imports and amassin ...
Friday, 23 September 22
EUROPEAN STEEL BUYERS SEEK DIRECTION IN VOLATILE MARKET - MEPS INTERNATIONAL
Demand for steel is slow to recover, after the summer break. Mill production costs continue to increase. Steel purchasers are uncertain about the f ...
Friday, 23 September 22
BUOYANT COAL INDUSTRY SEEKS WAYS TO STAY IN THE LONG-TERM ENERGY MIX - REUTERS
There’s no doubt that the global coal industry has been a major beneficiary of Russia’s invasion of Ukraine and the subsequent energy c ...
Friday, 23 September 22
MARKET INSIGHT - INTERMODAL
In view of the forthcoming winter, Europe is trying to escape from its energy (oil & gas) dependency from Russia to ensure energy abundance eve ...
Tuesday, 20 September 22
CHINA'S DAILY COAL OUTPUT HITS 3-MONTH LOW IN AUGUST ON RAINS, COVID CURBS - REUTERS
China’s daily coal output in August slipped to a three-month low as some mines in its biggest coal mining regions reduced operations or even ...
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- Indonesian Coal Mining Association
- Mjunction Services Limited - India
- Economic Council, Georgia
- Gujarat Sidhee Cement - India
- Timah Investasi Mineral - Indoneisa
- Thiess Contractors Indonesia
- Australian Coal Association
- The State Trading Corporation of India Ltd
- TNB Fuel Sdn Bhd - Malaysia
- PetroVietnam Power Coal Import and Supply Company
- Aboitiz Power Corporation - Philippines
- Binh Thuan Hamico - Vietnam
- Mercator Lines Limited - India
- Bulk Trading Sa - Switzerland
- Samtan Co., Ltd - South Korea
- Wilmar Investment Holdings
- Videocon Industries ltd - India
- Gujarat Mineral Development Corp Ltd - India
- VISA Power Limited - India
- Port Waratah Coal Services - Australia
- Toyota Tsusho Corporation, Japan
- Edison Trading Spa - Italy
- Parliament of New Zealand
- Orica Australia Pty. Ltd.
- Marubeni Corporation - India
- Directorate Of Revenue Intelligence - India
- Deloitte Consulting - India
- Bangladesh Power Developement Board
- Jorong Barutama Greston.PT - Indonesia
- Essar Steel Hazira Ltd - India
- Cement Manufacturers Association - India
- Renaissance Capital - South Africa
- Sakthi Sugars Limited - India
- Globalindo Alam Lestari - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- MS Steel International - UAE
- Semirara Mining Corp, Philippines
- Vizag Seaport Private Limited - India
- Indika Energy - Indonesia
- Africa Commodities Group - South Africa
- Lanco Infratech Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Rio Tinto Coal - Australia
- ASAPP Information Group - India
- PowerSource Philippines DevCo
- Cigading International Bulk Terminal - Indonesia
- OPG Power Generation Pvt Ltd - India
- Bharathi Cement Corporation - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Miang Besar Coal Terminal - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- PTC India Limited - India
- CNBM International Corporation - China
- Savvy Resources Ltd - HongKong
- Central Electricity Authority - India
- Siam City Cement - Thailand
- Singapore Mercantile Exchange
- Uttam Galva Steels Limited - India
- White Energy Company Limited
- Iligan Light & Power Inc, Philippines
- Eastern Energy - Thailand
- Ambuja Cements Ltd - India
- Baramulti Group, Indonesia
- Planning Commission, India
- The University of Queensland
- Georgia Ports Authority, United States
- Goldman Sachs - Singapore
- Pendopo Energi Batubara - Indonesia
- Posco Energy - South Korea
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Oldendorff Carriers - Singapore
- Neyveli Lignite Corporation Ltd, - India
- GN Power Mariveles Coal Plant, Philippines
- Energy Link Ltd, New Zealand
- Holcim Trading Pte Ltd - Singapore
- Semirara Mining and Power Corporation, Philippines
- Kepco SPC Power Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- ICICI Bank Limited - India
- Makarim & Taira - Indonesia
- Simpson Spence & Young - Indonesia
- Meenaskhi Energy Private Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Mercuria Energy - Indonesia
- LBH Netherlands Bv - Netherlands
- Kideco Jaya Agung - Indonesia
- Banpu Public Company Limited - Thailand
- SMG Consultants - Indonesia
- Indian Oil Corporation Limited
- Ministry of Mines - Canada
- Ministry of Transport, Egypt
- Maheswari Brothers Coal Limited - India
- Dalmia Cement Bharat India
- Kobexindo Tractors - Indoneisa
- Eastern Coal Council - USA
- TeaM Sual Corporation - Philippines
- Orica Mining Services - Indonesia
- Electricity Generating Authority of Thailand
- Petrochimia International Co. Ltd.- Taiwan
- Bank of Tokyo Mitsubishi UFJ Ltd
- Electricity Authority, New Zealand
- GVK Power & Infra Limited - India
- Sical Logistics Limited - India
- Intertek Mineral Services - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Malabar Cements Ltd - India
- Merrill Lynch Commodities Europe
- Salva Resources Pvt Ltd - India
- Minerals Council of Australia
- SMC Global Power, Philippines
- Xindia Steels Limited - India
- Billiton Holdings Pty Ltd - Australia
- Jindal Steel & Power Ltd - India
- Formosa Plastics Group - Taiwan
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sree Jayajothi Cements Limited - India
- Bukit Makmur.PT - Indonesia
- Global Coal Blending Company Limited - Australia
- Karbindo Abesyapradhi - Indoneisa
- Krishnapatnam Port Company Ltd. - India
- European Bulk Services B.V. - Netherlands
- Rashtriya Ispat Nigam Limited - India
- Central Java Power - Indonesia
- South Luzon Thermal Energy Corporation
- Chamber of Mines of South Africa
- Bukit Asam (Persero) Tbk - Indonesia
- Bukit Baiduri Energy - Indonesia
- Commonwealth Bank - Australia
- Directorate General of MIneral and Coal - Indonesia
- Wood Mackenzie - Singapore
- IEA Clean Coal Centre - UK
- Kaltim Prima Coal - Indonesia
- Jaiprakash Power Ventures ltd
- Kartika Selabumi Mining - Indonesia
- Coalindo Energy - Indonesia
- Altura Mining Limited, Indonesia
- Petron Corporation, Philippines
- London Commodity Brokers - England
- Global Business Power Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- Coastal Gujarat Power Limited - India
- Tamil Nadu electricity Board
- Energy Development Corp, Philippines
- New Zealand Coal & Carbon
- GMR Energy Limited - India
- Bayan Resources Tbk. - Indonesia
- Ind-Barath Power Infra Limited - India
- India Bulls Power Limited - India
- Bhoruka Overseas - Indonesia
- Romanian Commodities Exchange
- Anglo American - United Kingdom
- Carbofer General Trading SA - India
- Price Waterhouse Coopers - Russia
- Riau Bara Harum - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Chettinad Cement Corporation Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Indian Energy Exchange, India
- CIMB Investment Bank - Malaysia
- Mintek Dendrill Indonesia
- Power Finance Corporation Ltd., India
- Barasentosa Lestari - Indonesia
- Tata Chemicals Ltd - India
- Thai Mozambique Logistica
- Ministry of Finance - Indonesia
- Australian Commodity Traders Exchange
- Asmin Koalindo Tuhup - Indonesia
- Vedanta Resources Plc - India
- Heidelberg Cement - Germany
- International Coal Ventures Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- Borneo Indobara - Indonesia
- Bhushan Steel Limited - India
- Interocean Group of Companies - India
- Grasim Industreis Ltd - India
- Manunggal Multi Energi - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Sojitz Corporation - Japan
- Madhucon Powers Ltd - India
- McConnell Dowell - Australia
- Attock Cement Pakistan Limited
- Coal and Oil Company - UAE
- Meralco Power Generation, Philippines
- Indogreen Group - Indonesia
- Siam City Cement PLC, Thailand
- Standard Chartered Bank - UAE
- Bhatia International Limited - India
- Kapuas Tunggal Persada - Indonesia
- AsiaOL BioFuels Corp., Philippines
- IHS Mccloskey Coal Group - USA
- Straits Asia Resources Limited - Singapore
- Trasteel International SA, Italy
- Kumho Petrochemical, South Korea
- Star Paper Mills Limited - India
- PNOC Exploration Corporation - Philippines
- GAC Shipping (India) Pvt Ltd
- SN Aboitiz Power Inc, Philippines
- Alfred C Toepfer International GmbH - Germany
- Offshore Bulk Terminal Pte Ltd, Singapore
- Parry Sugars Refinery, India
- Ceylon Electricity Board - Sri Lanka
- Metalloyd Limited - United Kingdom
- Aditya Birla Group - India
- Agrawal Coal Company - India
- Latin American Coal - Colombia
- Larsen & Toubro Limited - India
- Therma Luzon, Inc, Philippines
- Sarangani Energy Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Global Green Power PLC Corporation, Philippines
- Medco Energi Mining Internasional
- Kalimantan Lumbung Energi - Indonesia
- Antam Resourcindo - Indonesia
- Independent Power Producers Association of India
- The Treasury - Australian Government
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