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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, 01 February 13
HANDY - FLAT; PANAMAX - FLAT TO WEAK; CAPESIZE - WEAK
Handy
The Atlantic market remained stable with no significant movement in rates. Rates from USG to FEast were around USD 17k and Black sea to Feast ...
Thursday, 31 January 13
DRY BULK RATES ON A FALLING PATTERN DUE TO ADVERSE WEATHER CONDITIONS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The seasonal factor has emerged as the latest catalyst in determining the course of the dry bulk market, as the floods in eastern Australia, the big ...
Thursday, 31 January 13
NEWCASTLE PORT SHIPPED 2.70 MMT OF COAL W/E 28 JANUARY 2013
COALspot.com - Newcastle port in Australia has loaded 2,703,921 MT of thermal and coking coal for week ended 0700 hours 28 January 2013, Newca ...
Thursday, 31 January 13
MMTC TO IMPORT 2.68 MMT OF COAL FOR ARAVALI POWER CORPORATION LTD
COALspot.com: The tender floated by MMTC on behalf of Aravali Power Corporation Ltd, a Joint venture between NTPC and State of Haryana for supply of ...
Wednesday, 30 January 13
TNPL TO SECURE 300K MT OF IMPORTED COAL SUPPLIES AT US$ 75.95 PMT FOR MARCH - AUGUST 2013 DELIVERY
COALspot.com – Chennai based Coastal Energy Private Limited (C&O Group of companies) offered lowest price of US$ 75.95 per met ...
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- Chettinad Cement Corporation Ltd - India
- Karaikal Port Pvt Ltd - India
- Mjunction Services Limited - India
- Port Waratah Coal Services - Australia
- Sinarmas Energy and Mining - Indonesia
- Oldendorff Carriers - Singapore
- McConnell Dowell - Australia
- Central Java Power - Indonesia
- Gujarat Sidhee Cement - India
- South Luzon Thermal Energy Corporation
- Therma Luzon, Inc, Philippines
- Globalindo Alam Lestari - Indonesia
- Intertek Mineral Services - Indonesia
- India Bulls Power Limited - India
- Kaltim Prima Coal - Indonesia
- Savvy Resources Ltd - HongKong
- Ministry of Finance - Indonesia
- Merrill Lynch Commodities Europe
- Krishnapatnam Port Company Ltd. - India
- Sojitz Corporation - Japan
- GAC Shipping (India) Pvt Ltd
- Jaiprakash Power Ventures ltd
- Dalmia Cement Bharat India
- Pendopo Energi Batubara - Indonesia
- Malabar Cements Ltd - India
- Orica Australia Pty. Ltd.
- Riau Bara Harum - Indonesia
- Romanian Commodities Exchange
- Billiton Holdings Pty Ltd - Australia
- Planning Commission, India
- Mercator Lines Limited - India
- Heidelberg Cement - Germany
- White Energy Company Limited
- Directorate General of MIneral and Coal - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- San Jose City I Power Corp, Philippines
- Rio Tinto Coal - Australia
- The State Trading Corporation of India Ltd
- Kideco Jaya Agung - Indonesia
- Indian Oil Corporation Limited
- ASAPP Information Group - India
- Global Green Power PLC Corporation, Philippines
- Standard Chartered Bank - UAE
- Indo Tambangraya Megah - Indonesia
- International Coal Ventures Pvt Ltd - India
- Ambuja Cements Ltd - India
- SMC Global Power, Philippines
- Economic Council, Georgia
- European Bulk Services B.V. - Netherlands
- Kohat Cement Company Ltd. - Pakistan
- Gujarat Mineral Development Corp Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Tamil Nadu electricity Board
- Indonesian Coal Mining Association
- Eastern Coal Council - USA
- Meenaskhi Energy Private Limited - India
- Directorate Of Revenue Intelligence - India
- GVK Power & Infra Limited - India
- Manunggal Multi Energi - Indonesia
- Simpson Spence & Young - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Samtan Co., Ltd - South Korea
- Deloitte Consulting - India
- Vizag Seaport Private Limited - India
- The Treasury - Australian Government
- Sindya Power Generating Company Private Ltd
- Rashtriya Ispat Nigam Limited - India
- Uttam Galva Steels Limited - India
- Xindia Steels Limited - India
- Meralco Power Generation, Philippines
- Maheswari Brothers Coal Limited - India
- Medco Energi Mining Internasional
- Sarangani Energy Corporation, Philippines
- ICICI Bank Limited - India
- Kartika Selabumi Mining - Indonesia
- Bhoruka Overseas - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Vedanta Resources Plc - India
- Sical Logistics Limited - India
- Central Electricity Authority - India
- Madhucon Powers Ltd - India
- PTC India Limited - India
- SMG Consultants - Indonesia
- Kepco SPC Power Corporation, Philippines
- Energy Link Ltd, New Zealand
- TNB Fuel Sdn Bhd - Malaysia
- Jorong Barutama Greston.PT - Indonesia
- Interocean Group of Companies - India
- Bharathi Cement Corporation - India
- OPG Power Generation Pvt Ltd - India
- Australian Commodity Traders Exchange
- Ministry of Transport, Egypt
- Aboitiz Power Corporation - Philippines
- Semirara Mining and Power Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Thiess Contractors Indonesia
- Energy Development Corp, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Marubeni Corporation - India
- Independent Power Producers Association of India
- Kobexindo Tractors - Indoneisa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Africa Commodities Group - South Africa
- Eastern Energy - Thailand
- Tata Chemicals Ltd - India
- Borneo Indobara - Indonesia
- Goldman Sachs - Singapore
- Agrawal Coal Company - India
- Wilmar Investment Holdings
- Barasentosa Lestari - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- MS Steel International - UAE
- Alfred C Toepfer International GmbH - Germany
- CNBM International Corporation - China
- Binh Thuan Hamico - Vietnam
- Siam City Cement PLC, Thailand
- Anglo American - United Kingdom
- Bukit Makmur.PT - Indonesia
- Kumho Petrochemical, South Korea
- Bahari Cakrawala Sebuku - Indonesia
- Global Coal Blending Company Limited - Australia
- Minerals Council of Australia
- Bangladesh Power Developement Board
- Global Business Power Corporation, Philippines
- Essar Steel Hazira Ltd - India
- Indika Energy - Indonesia
- Parry Sugars Refinery, India
- Electricity Authority, New Zealand
- LBH Netherlands Bv - Netherlands
- Antam Resourcindo - Indonesia
- Makarim & Taira - Indonesia
- VISA Power Limited - India
- Carbofer General Trading SA - India
- Aditya Birla Group - India
- Petrochimia International Co. Ltd.- Taiwan
- SN Aboitiz Power Inc, Philippines
- Formosa Plastics Group - Taiwan
- Electricity Generating Authority of Thailand
- Straits Asia Resources Limited - Singapore
- Banpu Public Company Limited - Thailand
- Ministry of Mines - Canada
- PowerSource Philippines DevCo
- Bukit Baiduri Energy - Indonesia
- Price Waterhouse Coopers - Russia
- Salva Resources Pvt Ltd - India
- Singapore Mercantile Exchange
- GMR Energy Limited - India
- Edison Trading Spa - Italy
- Lanco Infratech Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Coalindo Energy - Indonesia
- Thai Mozambique Logistica
- Bank of Tokyo Mitsubishi UFJ Ltd
- Jindal Steel & Power Ltd - India
- Mercuria Energy - Indonesia
- Orica Mining Services - Indonesia
- The University of Queensland
- PetroVietnam Power Coal Import and Supply Company
- Metalloyd Limited - United Kingdom
- Indogreen Group - Indonesia
- Bhatia International Limited - India
- Coal and Oil Company - UAE
- Bulk Trading Sa - Switzerland
- London Commodity Brokers - England
- Bhushan Steel Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Commonwealth Bank - Australia
- Bayan Resources Tbk. - Indonesia
- Timah Investasi Mineral - Indoneisa
- Holcim Trading Pte Ltd - Singapore
- Cigading International Bulk Terminal - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- PNOC Exploration Corporation - Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Grasim Industreis Ltd - India
- New Zealand Coal & Carbon
- Coastal Gujarat Power Limited - India
- Posco Energy - South Korea
- Toyota Tsusho Corporation, Japan
- Cement Manufacturers Association - India
- Chamber of Mines of South Africa
- TeaM Sual Corporation - Philippines
- Sakthi Sugars Limited - India
- Indian Energy Exchange, India
- Renaissance Capital - South Africa
- Neyveli Lignite Corporation Ltd, - India
- Kalimantan Lumbung Energi - Indonesia
- Kapuas Tunggal Persada - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Attock Cement Pakistan Limited
- Star Paper Mills Limited - India
- CIMB Investment Bank - Malaysia
- Wood Mackenzie - Singapore
- Latin American Coal - Colombia
- Petron Corporation, Philippines
- Power Finance Corporation Ltd., India
- Australian Coal Association
- Siam City Cement - Thailand
- Trasteel International SA, Italy
- Maharashtra Electricity Regulatory Commission - India
- Mintek Dendrill Indonesia
- Parliament of New Zealand
- Altura Mining Limited, Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Georgia Ports Authority, United States
- Vijayanagar Sugar Pvt Ltd - India
- Larsen & Toubro Limited - India
- Sree Jayajothi Cements Limited - India
- IHS Mccloskey Coal Group - USA
- Iligan Light & Power Inc, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Baramulti Group, Indonesia
- Videocon Industries ltd - India
- IEA Clean Coal Centre - UK
- Semirara Mining Corp, Philippines
- Ind-Barath Power Infra Limited - India
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