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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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Monday, 28 January 13
BAYAN RESOURCES TO SELL 18 MILLION TONS OF COAL TO GNPOWER MARIVELES COAL PLANT
Publicly-listed PT Bayan Resources announced on Friday that it had signed an agreement on coal sales with Philippine-based GNPower Mariveles Coal Pl ...
Sunday, 27 January 13
CFR SOUTH CHINA COAL SWAPS: WEAK
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) for average Q1’ 2013 delivery has gained 0.31 percent and CFR South China coal shipment&nbs ...
Sunday, 27 January 13
FREIGHT MARKET: FLAT TO SOFT - VISTAAR
COALspot.com - The freight market was soft and all the indices were down except for handy size.
The BDI was down 4.66 pct closing at 798 points.. ...
Friday, 25 January 13
BOTSWANA GOVERNMENT GRANTS COAL LICENSES TO A-CAP RESOURCES LIMITED
A-Cap Resources Limited has announced that it has been granted coal rights within its Bolau tenements which sit next to the Sese Coal and Power Proj ...
Friday, 25 January 13
SMALL ROOM FOR OPTIMISM FOR THE PROSPECTS OF THE DRY BULK MARKET AS NET FLEET GROWTH IS SLOWING DOWN - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Despite the fact that the dry bulk market didn't manage to post a rebound during the past year, quite the opposite, as a fast fleet growth and slow ...
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- Semirara Mining Corp, Philippines
- Billiton Holdings Pty Ltd - Australia
- Singapore Mercantile Exchange
- Indian Energy Exchange, India
- Coastal Gujarat Power Limited - India
- Petron Corporation, Philippines
- Thiess Contractors Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Meenaskhi Energy Private Limited - India
- Meralco Power Generation, Philippines
- Sindya Power Generating Company Private Ltd
- Tata Chemicals Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Global Business Power Corporation, Philippines
- White Energy Company Limited
- Port Waratah Coal Services - Australia
- Romanian Commodities Exchange
- Globalindo Alam Lestari - Indonesia
- Independent Power Producers Association of India
- Uttam Galva Steels Limited - India
- European Bulk Services B.V. - Netherlands
- Simpson Spence & Young - Indonesia
- Bhatia International Limited - India
- Edison Trading Spa - Italy
- Holcim Trading Pte Ltd - Singapore
- Attock Cement Pakistan Limited
- Directorate General of MIneral and Coal - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Banpu Public Company Limited - Thailand
- Semirara Mining and Power Corporation, Philippines
- Jaiprakash Power Ventures ltd
- Bukit Baiduri Energy - Indonesia
- Bayan Resources Tbk. - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Economic Council, Georgia
- Vizag Seaport Private Limited - India
- Commonwealth Bank - Australia
- Xindia Steels Limited - India
- Planning Commission, India
- Salva Resources Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- GMR Energy Limited - India
- SMG Consultants - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Bulk Trading Sa - Switzerland
- Parry Sugars Refinery, India
- TeaM Sual Corporation - Philippines
- Alfred C Toepfer International GmbH - Germany
- Videocon Industries ltd - India
- Gujarat Mineral Development Corp Ltd - India
- PNOC Exploration Corporation - Philippines
- Latin American Coal - Colombia
- Posco Energy - South Korea
- Formosa Plastics Group - Taiwan
- Pendopo Energi Batubara - Indonesia
- Samtan Co., Ltd - South Korea
- Medco Energi Mining Internasional
- Kartika Selabumi Mining - Indonesia
- Vedanta Resources Plc - India
- Gujarat Sidhee Cement - India
- Ambuja Cements Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Mercator Lines Limited - India
- Global Green Power PLC Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- IEA Clean Coal Centre - UK
- Sinarmas Energy and Mining - Indonesia
- Grasim Industreis Ltd - India
- PTC India Limited - India
- South Luzon Thermal Energy Corporation
- Indian Oil Corporation Limited
- Orica Mining Services - Indonesia
- Mjunction Services Limited - India
- Indika Energy - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- PowerSource Philippines DevCo
- Maharashtra Electricity Regulatory Commission - India
- Leighton Contractors Pty Ltd - Australia
- Altura Mining Limited, Indonesia
- Krishnapatnam Port Company Ltd. - India
- VISA Power Limited - India
- ASAPP Information Group - India
- Toyota Tsusho Corporation, Japan
- CIMB Investment Bank - Malaysia
- Anglo American - United Kingdom
- Makarim & Taira - Indonesia
- Antam Resourcindo - Indonesia
- Australian Commodity Traders Exchange
- Georgia Ports Authority, United States
- Indo Tambangraya Megah - Indonesia
- London Commodity Brokers - England
- Oldendorff Carriers - Singapore
- Kaltim Prima Coal - Indonesia
- Karaikal Port Pvt Ltd - India
- Marubeni Corporation - India
- Maheswari Brothers Coal Limited - India
- Orica Australia Pty. Ltd.
- Miang Besar Coal Terminal - Indonesia
- Kideco Jaya Agung - Indonesia
- GAC Shipping (India) Pvt Ltd
- Africa Commodities Group - South Africa
- Rio Tinto Coal - Australia
- Global Coal Blending Company Limited - Australia
- LBH Netherlands Bv - Netherlands
- Trasteel International SA, Italy
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Price Waterhouse Coopers - Russia
- Siam City Cement PLC, Thailand
- Electricity Generating Authority of Thailand
- Bukit Asam (Persero) Tbk - Indonesia
- Siam City Cement - Thailand
- Parliament of New Zealand
- Aboitiz Power Corporation - Philippines
- Chamber of Mines of South Africa
- Dalmia Cement Bharat India
- Aditya Birla Group - India
- Ministry of Finance - Indonesia
- Bukit Makmur.PT - Indonesia
- The University of Queensland
- Deloitte Consulting - India
- Sakthi Sugars Limited - India
- ICICI Bank Limited - India
- Straits Asia Resources Limited - Singapore
- Vijayanagar Sugar Pvt Ltd - India
- Cement Manufacturers Association - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ministry of Mines - Canada
- SN Aboitiz Power Inc, Philippines
- Binh Thuan Hamico - Vietnam
- Bhushan Steel Limited - India
- Ceylon Electricity Board - Sri Lanka
- Australian Coal Association
- Sarangani Energy Corporation, Philippines
- Indogreen Group - Indonesia
- Coal and Oil Company - UAE
- Kohat Cement Company Ltd. - Pakistan
- Sree Jayajothi Cements Limited - India
- Energy Development Corp, Philippines
- GVK Power & Infra Limited - India
- Indonesian Coal Mining Association
- Energy Link Ltd, New Zealand
- Standard Chartered Bank - UAE
- Petrochimia International Co. Ltd.- Taiwan
- Coalindo Energy - Indonesia
- SMC Global Power, Philippines
- Interocean Group of Companies - India
- Bahari Cakrawala Sebuku - Indonesia
- Malabar Cements Ltd - India
- Larsen & Toubro Limited - India
- Carbofer General Trading SA - India
- Kobexindo Tractors - Indoneisa
- Star Paper Mills Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Barasentosa Lestari - Indonesia
- Baramulti Group, Indonesia
- Eastern Energy - Thailand
- Sical Logistics Limited - India
- Chettinad Cement Corporation Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Metalloyd Limited - United Kingdom
- Merrill Lynch Commodities Europe
- Jindal Steel & Power Ltd - India
- Mercuria Energy - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Iligan Light & Power Inc, Philippines
- Agrawal Coal Company - India
- Therma Luzon, Inc, Philippines
- The State Trading Corporation of India Ltd
- Wilmar Investment Holdings
- MS Steel International - UAE
- Tamil Nadu electricity Board
- AsiaOL BioFuels Corp., Philippines
- Directorate Of Revenue Intelligence - India
- Goldman Sachs - Singapore
- Timah Investasi Mineral - Indoneisa
- San Jose City I Power Corp, Philippines
- Kepco SPC Power Corporation, Philippines
- Bharathi Cement Corporation - India
- Riau Bara Harum - Indonesia
- Thai Mozambique Logistica
- Bangladesh Power Developement Board
- Heidelberg Cement - Germany
- Borneo Indobara - Indonesia
- New Zealand Coal & Carbon
- IHS Mccloskey Coal Group - USA
- Ministry of Transport, Egypt
- Eastern Coal Council - USA
- McConnell Dowell - Australia
- Minerals Council of Australia
- Sojitz Corporation - Japan
- Renaissance Capital - South Africa
- Electricity Authority, New Zealand
- Central Electricity Authority - India
- Intertek Mineral Services - Indonesia
- The Treasury - Australian Government
- Wood Mackenzie - Singapore
- Ind-Barath Power Infra Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Karbindo Abesyapradhi - Indoneisa
- Savvy Resources Ltd - HongKong
- Madhucon Powers Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Central Java Power - Indonesia
- CNBM International Corporation - China
- OPG Power Generation Pvt Ltd - India
- India Bulls Power Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Essar Steel Hazira Ltd - India
- Power Finance Corporation Ltd., India
- Mintek Dendrill Indonesia
- Bhoruka Overseas - Indonesia
- Kumho Petrochemical, South Korea
- TNB Fuel Sdn Bhd - Malaysia
- Lanco Infratech Ltd - India
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