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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, 20 September 22
CHINA COAL OUTPUT UP 8.1 PCT IN AUGUST - XINHUA
China’s raw coal output posted stable expansion in August, official data showed.
The country produced 370 million tonnes of ra ...
Monday, 19 September 22
BUMA AUSTRALIA AWARDED A$400 MILLION CONTRACT EXTENSION BY BMA FOR GOONYELLA PROJECT
Press Release – PT Delta Dunia Makmur Tbk. (the "Company") announced that its subsidiary, PT Bukit Makmur Mandiri Utama ("BUMA ...
Saturday, 17 September 22
CHINA WARNS COAL COMPANIES AGAINST DUAL CONTRACTS, KEEP PRICES STABLE - REUTERS
China’s state economic planner warned coal companies operating at ports in the Bohai Bay region to comply with their long-term contracts to k ...
Saturday, 17 September 22
IS A GLOBAL RECESSION IMMINENT? - WORLD BANK
Since the beginning of the year, a rapid deterioration of growth prospects coupled with rising inflation and tightening financing conditions, has i ...
Saturday, 17 September 22
FITCH RATINGS REVISES GLOBAL METALS & MINING PRICE ASSUMPTIONS
Fitch Ratings has revised its metals and mining price assumptions reflecting evolving economic growth expectations and demand and supply dynamics.
...
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- ICICI Bank Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Goldman Sachs - Singapore
- GAC Shipping (India) Pvt Ltd
- Power Finance Corporation Ltd., India
- TNB Fuel Sdn Bhd - Malaysia
- Bayan Resources Tbk. - Indonesia
- Bhoruka Overseas - Indonesia
- Edison Trading Spa - Italy
- Oldendorff Carriers - Singapore
- Parliament of New Zealand
- India Bulls Power Limited - India
- Sinarmas Energy and Mining - Indonesia
- ASAPP Information Group - India
- Uttam Galva Steels Limited - India
- Aboitiz Power Corporation - Philippines
- Kohat Cement Company Ltd. - Pakistan
- The State Trading Corporation of India Ltd
- Therma Luzon, Inc, Philippines
- Indonesian Coal Mining Association
- Kaltim Prima Coal - Indonesia
- Baramulti Group, Indonesia
- Kumho Petrochemical, South Korea
- Karbindo Abesyapradhi - Indoneisa
- Manunggal Multi Energi - Indonesia
- Agrawal Coal Company - India
- Port Waratah Coal Services - Australia
- Attock Cement Pakistan Limited
- Mjunction Services Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Dalmia Cement Bharat India
- Kepco SPC Power Corporation, Philippines
- Star Paper Mills Limited - India
- Eastern Energy - Thailand
- Jindal Steel & Power Ltd - India
- PNOC Exploration Corporation - Philippines
- Miang Besar Coal Terminal - Indonesia
- Ambuja Cements Ltd - India
- Mintek Dendrill Indonesia
- Ceylon Electricity Board - Sri Lanka
- Borneo Indobara - Indonesia
- Price Waterhouse Coopers - Russia
- Altura Mining Limited, Indonesia
- McConnell Dowell - Australia
- Global Green Power PLC Corporation, Philippines
- Interocean Group of Companies - India
- CIMB Investment Bank - Malaysia
- Pipit Mutiara Jaya. PT, Indonesia
- New Zealand Coal & Carbon
- San Jose City I Power Corp, Philippines
- SMC Global Power, Philippines
- Ministry of Transport, Egypt
- White Energy Company Limited
- International Coal Ventures Pvt Ltd - India
- Sical Logistics Limited - India
- Marubeni Corporation - India
- Samtan Co., Ltd - South Korea
- Orica Australia Pty. Ltd.
- Australian Commodity Traders Exchange
- Rashtriya Ispat Nigam Limited - India
- South Luzon Thermal Energy Corporation
- Riau Bara Harum - Indonesia
- Maheswari Brothers Coal Limited - India
- Sindya Power Generating Company Private Ltd
- Directorate General of MIneral and Coal - Indonesia
- Semirara Mining Corp, Philippines
- Intertek Mineral Services - Indonesia
- Wilmar Investment Holdings
- Binh Thuan Hamico - Vietnam
- Toyota Tsusho Corporation, Japan
- Renaissance Capital - South Africa
- Merrill Lynch Commodities Europe
- Alfred C Toepfer International GmbH - Germany
- GVK Power & Infra Limited - India
- MS Steel International - UAE
- Directorate Of Revenue Intelligence - India
- Indian Oil Corporation Limited
- Bulk Trading Sa - Switzerland
- GMR Energy Limited - India
- Vizag Seaport Private Limited - India
- Kobexindo Tractors - Indoneisa
- Vedanta Resources Plc - India
- Gujarat Electricity Regulatory Commission - India
- VISA Power Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Coastal Gujarat Power Limited - India
- Electricity Generating Authority of Thailand
- Salva Resources Pvt Ltd - India
- Ministry of Mines - Canada
- Global Business Power Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- Energy Development Corp, Philippines
- Standard Chartered Bank - UAE
- Bukit Baiduri Energy - Indonesia
- Petron Corporation, Philippines
- Cement Manufacturers Association - India
- Chettinad Cement Corporation Ltd - India
- Simpson Spence & Young - Indonesia
- Economic Council, Georgia
- Indian Energy Exchange, India
- SMG Consultants - Indonesia
- Bhushan Steel Limited - India
- Aditya Birla Group - India
- Savvy Resources Ltd - HongKong
- Leighton Contractors Pty Ltd - Australia
- Maharashtra Electricity Regulatory Commission - India
- Australian Coal Association
- Georgia Ports Authority, United States
- Videocon Industries ltd - India
- Billiton Holdings Pty Ltd - Australia
- Sree Jayajothi Cements Limited - India
- OPG Power Generation Pvt Ltd - India
- Chamber of Mines of South Africa
- Cigading International Bulk Terminal - Indonesia
- Lanco Infratech Ltd - India
- Commonwealth Bank - Australia
- Planning Commission, India
- Africa Commodities Group - South Africa
- Rio Tinto Coal - Australia
- Sakthi Sugars Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Indo Tambangraya Megah - Indonesia
- Carbofer General Trading SA - India
- Pendopo Energi Batubara - Indonesia
- Coalindo Energy - Indonesia
- Minerals Council of Australia
- The Treasury - Australian Government
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bharathi Cement Corporation - India
- Kartika Selabumi Mining - Indonesia
- Timah Investasi Mineral - Indoneisa
- CNBM International Corporation - China
- Thiess Contractors Indonesia
- IHS Mccloskey Coal Group - USA
- Grasim Industreis Ltd - India
- European Bulk Services B.V. - Netherlands
- Meralco Power Generation, Philippines
- Electricity Authority, New Zealand
- PTC India Limited - India
- Holcim Trading Pte Ltd - Singapore
- Jaiprakash Power Ventures ltd
- Xindia Steels Limited - India
- SN Aboitiz Power Inc, Philippines
- London Commodity Brokers - England
- Deloitte Consulting - India
- Globalindo Alam Lestari - Indonesia
- Straits Asia Resources Limited - Singapore
- TeaM Sual Corporation - Philippines
- Metalloyd Limited - United Kingdom
- IEA Clean Coal Centre - UK
- Ministry of Finance - Indonesia
- Sarangani Energy Corporation, Philippines
- Larsen & Toubro Limited - India
- Thai Mozambique Logistica
- Indika Energy - Indonesia
- The University of Queensland
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Heidelberg Cement - Germany
- GN Power Mariveles Coal Plant, Philippines
- Semirara Mining and Power Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- PowerSource Philippines DevCo
- Orica Mining Services - Indonesia
- Global Coal Blending Company Limited - Australia
- Wood Mackenzie - Singapore
- Bangladesh Power Developement Board
- Barasentosa Lestari - Indonesia
- Indogreen Group - Indonesia
- Tata Chemicals Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Anglo American - United Kingdom
- Essar Steel Hazira Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Antam Resourcindo - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Independent Power Producers Association of India
- Gujarat Sidhee Cement - India
- Mercuria Energy - Indonesia
- Malabar Cements Ltd - India
- Madhucon Powers Ltd - India
- Singapore Mercantile Exchange
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Coal and Oil Company - UAE
- Energy Link Ltd, New Zealand
- Trasteel International SA, Italy
- Iligan Light & Power Inc, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Posco Energy - South Korea
- Petrochimia International Co. Ltd.- Taiwan
- Vijayanagar Sugar Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- LBH Netherlands Bv - Netherlands
- Tamil Nadu electricity Board
- Bukit Asam (Persero) Tbk - Indonesia
- Central Electricity Authority - India
- Gujarat Mineral Development Corp Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Mercator Lines Limited - India
- Banpu Public Company Limited - Thailand
- Parry Sugars Refinery, India
- Latin American Coal - Colombia
- Siam City Cement - Thailand
- Kalimantan Lumbung Energi - Indonesia
- Medco Energi Mining Internasional
- Bhatia International Limited - India
- Eastern Coal Council - USA
- Makarim & Taira - Indonesia
- Bukit Makmur.PT - Indonesia
- Romanian Commodities Exchange
- Sojitz Corporation - Japan
- Bahari Cakrawala Sebuku - Indonesia
- Formosa Plastics Group - Taiwan
- Krishnapatnam Port Company Ltd. - India
- Ind-Barath Power Infra Limited - India
- Meenaskhi Energy Private Limited - India
- Siam City Cement PLC, Thailand
- Central Java Power - Indonesia
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