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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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Thursday, 24 January 13
INDO - INDIA NOW AT APS $ 8K + BB USD 90000 - FEARNLEYS AS
Handy
The Atlantic market remains stable as supply of tonnage is still in excess of demand. USG- Far east fixed at $18k and CONT-FEAST at $ 11k. Pa ...
Thursday, 24 January 13
DRY BULK MARKET FALLS ON TROPICAL CYCLONE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The dry bulk market has been on the downside during the past couple of days, mainly as a result of the tropical storm which forced ports to close do ...
Tuesday, 22 January 13
PORT OF ANTWERP HANDLES 7.0 PERCENT MORE COAL IN 2012 Y-Y
COALspot.com - The port of Antwerp handled 184,134,516 tonnes of freight last year.
This represents a drop of 1.6% compared with 2011, when the v ...
Monday, 21 January 13
NEWCASTLE PORT SHIPPED 10.21 PERCENT LESS COAL W/E 21 JANUARY 2013
COALspot.com - Newcastle port in Australia has loaded 2,804,152 MT of thermal and coking coal for week ended 0700 hours 21 January 2013, Newca ...
Monday, 21 January 13
PANAMAX DRY BULK CARRIERS AND AFRAMAX TANKERS PROVED TO BE THE "WEAPON OF CHOICE" FOR MOST SHIP OWNERS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
With ship financing getting ever so difficult to procure during the past year or so, ship owners had to get creative in order to persuade banks and ...
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- Samtan Co., Ltd - South Korea
- IHS Mccloskey Coal Group - USA
- Star Paper Mills Limited - India
- SN Aboitiz Power Inc, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Kumho Petrochemical, South Korea
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Coal and Oil Company - UAE
- Orica Mining Services - Indonesia
- Kideco Jaya Agung - Indonesia
- Port Waratah Coal Services - Australia
- GMR Energy Limited - India
- Bulk Trading Sa - Switzerland
- Attock Cement Pakistan Limited
- Binh Thuan Hamico - Vietnam
- Coalindo Energy - Indonesia
- Malabar Cements Ltd - India
- Mintek Dendrill Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Miang Besar Coal Terminal - Indonesia
- Australian Coal Association
- Eastern Coal Council - USA
- Cement Manufacturers Association - India
- Global Green Power PLC Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Sical Logistics Limited - India
- Intertek Mineral Services - Indonesia
- TeaM Sual Corporation - Philippines
- ASAPP Information Group - India
- Independent Power Producers Association of India
- Wilmar Investment Holdings
- Coastal Gujarat Power Limited - India
- Krishnapatnam Port Company Ltd. - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- TNB Fuel Sdn Bhd - Malaysia
- Jindal Steel & Power Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Australian Commodity Traders Exchange
- Energy Link Ltd, New Zealand
- Iligan Light & Power Inc, Philippines
- SMC Global Power, Philippines
- Simpson Spence & Young - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- San Jose City I Power Corp, Philippines
- Trasteel International SA, Italy
- Formosa Plastics Group - Taiwan
- Mercuria Energy - Indonesia
- Bukit Baiduri Energy - Indonesia
- Standard Chartered Bank - UAE
- Wood Mackenzie - Singapore
- Straits Asia Resources Limited - Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- Anglo American - United Kingdom
- Petron Corporation, Philippines
- IEA Clean Coal Centre - UK
- Tamil Nadu electricity Board
- Kapuas Tunggal Persada - Indonesia
- Power Finance Corporation Ltd., India
- PTC India Limited - India
- GAC Shipping (India) Pvt Ltd
- Indonesian Coal Mining Association
- Posco Energy - South Korea
- South Luzon Thermal Energy Corporation
- Vizag Seaport Private Limited - India
- Billiton Holdings Pty Ltd - Australia
- Uttam Galva Steels Limited - India
- ICICI Bank Limited - India
- Thiess Contractors Indonesia
- Kepco SPC Power Corporation, Philippines
- Banpu Public Company Limited - Thailand
- Ind-Barath Power Infra Limited - India
- Bayan Resources Tbk. - Indonesia
- Chamber of Mines of South Africa
- Bukit Asam (Persero) Tbk - Indonesia
- Videocon Industries ltd - India
- Jorong Barutama Greston.PT - Indonesia
- London Commodity Brokers - England
- Edison Trading Spa - Italy
- Gujarat Sidhee Cement - India
- Planning Commission, India
- Sojitz Corporation - Japan
- Sarangani Energy Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- Manunggal Multi Energi - Indonesia
- PowerSource Philippines DevCo
- Altura Mining Limited, Indonesia
- Sree Jayajothi Cements Limited - India
- Timah Investasi Mineral - Indoneisa
- Aditya Birla Group - India
- Maheswari Brothers Coal Limited - India
- Pendopo Energi Batubara - Indonesia
- New Zealand Coal & Carbon
- Therma Luzon, Inc, Philippines
- Rashtriya Ispat Nigam Limited - India
- Tata Chemicals Ltd - India
- Bukit Makmur.PT - Indonesia
- Bhatia International Limited - India
- International Coal Ventures Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- Barasentosa Lestari - Indonesia
- GVK Power & Infra Limited - India
- Georgia Ports Authority, United States
- Central Java Power - Indonesia
- Metalloyd Limited - United Kingdom
- Kaltim Prima Coal - Indonesia
- Singapore Mercantile Exchange
- Energy Development Corp, Philippines
- Ceylon Electricity Board - Sri Lanka
- Directorate Of Revenue Intelligence - India
- Riau Bara Harum - Indonesia
- Indo Tambangraya Megah - Indonesia
- The Treasury - Australian Government
- Essar Steel Hazira Ltd - India
- European Bulk Services B.V. - Netherlands
- Neyveli Lignite Corporation Ltd, - India
- Agrawal Coal Company - India
- Grasim Industreis Ltd - India
- Bhushan Steel Limited - India
- Indogreen Group - Indonesia
- CIMB Investment Bank - Malaysia
- Gujarat Electricity Regulatory Commission - India
- Carbofer General Trading SA - India
- SMG Consultants - Indonesia
- Bhoruka Overseas - Indonesia
- McConnell Dowell - Australia
- Kohat Cement Company Ltd. - Pakistan
- Renaissance Capital - South Africa
- Madhucon Powers Ltd - India
- Kartika Selabumi Mining - Indonesia
- Indian Energy Exchange, India
- Bangladesh Power Developement Board
- Dalmia Cement Bharat India
- Vijayanagar Sugar Pvt Ltd - India
- The University of Queensland
- Ministry of Transport, Egypt
- Larsen & Toubro Limited - India
- Vedanta Resources Plc - India
- Romanian Commodities Exchange
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Heidelberg Cement - Germany
- Ministry of Finance - Indonesia
- Price Waterhouse Coopers - Russia
- Goldman Sachs - Singapore
- CNBM International Corporation - China
- Indika Energy - Indonesia
- Savvy Resources Ltd - HongKong
- Indian Oil Corporation Limited
- Asmin Koalindo Tuhup - Indonesia
- Meralco Power Generation, Philippines
- Mercator Lines Limited - India
- Eastern Energy - Thailand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- The State Trading Corporation of India Ltd
- Electricity Generating Authority of Thailand
- MS Steel International - UAE
- Alfred C Toepfer International GmbH - Germany
- Economic Council, Georgia
- Petrochimia International Co. Ltd.- Taiwan
- Sakthi Sugars Limited - India
- Electricity Authority, New Zealand
- Globalindo Alam Lestari - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- LBH Netherlands Bv - Netherlands
- Parry Sugars Refinery, India
- Mjunction Services Limited - India
- Aboitiz Power Corporation - Philippines
- Global Business Power Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Latin American Coal - Colombia
- Karaikal Port Pvt Ltd - India
- Xindia Steels Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Medco Energi Mining Internasional
- Salva Resources Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Semirara Mining Corp, Philippines
- Sinarmas Energy and Mining - Indonesia
- Sindya Power Generating Company Private Ltd
- Cigading International Bulk Terminal - Indonesia
- Siam City Cement PLC, Thailand
- Commonwealth Bank - Australia
- Thai Mozambique Logistica
- Siam City Cement - Thailand
- Lanco Infratech Ltd - India
- Chettinad Cement Corporation Ltd - India
- PNOC Exploration Corporation - Philippines
- Oldendorff Carriers - Singapore
- Antam Resourcindo - Indonesia
- Makarim & Taira - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Global Coal Blending Company Limited - Australia
- Deloitte Consulting - India
- VISA Power Limited - India
- Toyota Tsusho Corporation, Japan
- Central Electricity Authority - India
- OPG Power Generation Pvt Ltd - India
- India Bulls Power Limited - India
- AsiaOL BioFuels Corp., Philippines
- Borneo Indobara - Indonesia
- Parliament of New Zealand
- Marubeni Corporation - India
- Baramulti Group, Indonesia
- Minerals Council of Australia
- Ambuja Cements Ltd - India
- Bharathi Cement Corporation - India
- Rio Tinto Coal - Australia
- Leighton Contractors Pty Ltd - Australia
- Orica Australia Pty. Ltd.
- White Energy Company Limited
- Interocean Group of Companies - India
- Merrill Lynch Commodities Europe
- Bank of Tokyo Mitsubishi UFJ Ltd
- Jaiprakash Power Ventures ltd
- GN Power Mariveles Coal Plant, Philippines
- Africa Commodities Group - South Africa
- Ministry of Mines - Canada
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