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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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Sunday, 20 January 13
Q1 & Q4 SUB-BIT FOB INDONESIA COAL SWAPS: FIRM
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) and CFR South China coal shipment for average Q1’ 2013 delivery have gained 0.81percent and ...
Sunday, 20 January 13
S7 & S8 ROUTE FREIGHT TREND IS EXPECTED TO BE FLAT TO SOFT THIS WEEK - VISTAAR
COALspot.com - The freight market was fairly steady with all the indices BDI up by 9.21 pct closing at 837 points. The Cape index was also sharply u ...
Friday, 18 January 13
NEWLEAD HOLDINGS LTD. TO ACQUIRE TWO COAL PROPERTIES WITH ESTIMATED COAL RESERVES OF 18.6 MMT & 143.1 MMT
NewLead Holdings Ltd. Announces Signing Agreement to Acquire Properties with Estimated Coal Reserves of 18.6 Million Tons; Signing Agreement to Acqu ...
Friday, 18 January 13
DRY BULK MARKET ON THE RISE, ON STRONG DEMAND FOR CAPESIZE VESSELS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The dry bulk market has continued its climbing trend yesterday, as the industry's benchmark, the Baltic Dry Index (BDI) was up by 39 points to 820. ...
Friday, 18 January 13
CAPESIZE : SIGNALS ARE MIXED BUT THE OVERALL TENDENCY IS POSITIVE - FEARNLEYS
Handy
The Atlantic market remained stable with USG-Feast fixed around USD 17k, according to fearnleys’s weekly report.
Continent / Medite ...
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- Rio Tinto Coal - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Formosa Plastics Group - Taiwan
- Makarim & Taira - Indonesia
- Ministry of Transport, Egypt
- Heidelberg Cement - Germany
- Energy Link Ltd, New Zealand
- San Jose City I Power Corp, Philippines
- Kaltim Prima Coal - Indonesia
- Banpu Public Company Limited - Thailand
- Sinarmas Energy and Mining - Indonesia
- Kartika Selabumi Mining - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Xindia Steels Limited - India
- Kapuas Tunggal Persada - Indonesia
- GMR Energy Limited - India
- ASAPP Information Group - India
- Orica Mining Services - Indonesia
- Chettinad Cement Corporation Ltd - India
- Baramulti Group, Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Medco Energi Mining Internasional
- Simpson Spence & Young - Indonesia
- Essar Steel Hazira Ltd - India
- IHS Mccloskey Coal Group - USA
- Lanco Infratech Ltd - India
- ICICI Bank Limited - India
- Sical Logistics Limited - India
- Marubeni Corporation - India
- Karaikal Port Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- Parliament of New Zealand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- SMG Consultants - Indonesia
- Anglo American - United Kingdom
- Coalindo Energy - Indonesia
- Kepco SPC Power Corporation, Philippines
- Siam City Cement - Thailand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- SMC Global Power, Philippines
- Bukit Baiduri Energy - Indonesia
- Electricity Authority, New Zealand
- Posco Energy - South Korea
- Sindya Power Generating Company Private Ltd
- Straits Asia Resources Limited - Singapore
- VISA Power Limited - India
- Semirara Mining and Power Corporation, Philippines
- Siam City Cement PLC, Thailand
- Global Business Power Corporation, Philippines
- Indian Oil Corporation Limited
- Samtan Co., Ltd - South Korea
- Therma Luzon, Inc, Philippines
- Videocon Industries ltd - India
- Coastal Gujarat Power Limited - India
- Parry Sugars Refinery, India
- Cement Manufacturers Association - India
- Eastern Coal Council - USA
- Miang Besar Coal Terminal - Indonesia
- Iligan Light & Power Inc, Philippines
- Intertek Mineral Services - Indonesia
- Malabar Cements Ltd - India
- Indogreen Group - Indonesia
- Maheswari Brothers Coal Limited - India
- Riau Bara Harum - Indonesia
- Power Finance Corporation Ltd., India
- Binh Thuan Hamico - Vietnam
- Vizag Seaport Private Limited - India
- GVK Power & Infra Limited - India
- Bhatia International Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Deloitte Consulting - India
- Mercuria Energy - Indonesia
- Orica Australia Pty. Ltd.
- Toyota Tsusho Corporation, Japan
- Central Java Power - Indonesia
- Indonesian Coal Mining Association
- Bharathi Cement Corporation - India
- Kideco Jaya Agung - Indonesia
- Chamber of Mines of South Africa
- Globalindo Alam Lestari - Indonesia
- Thai Mozambique Logistica
- Port Waratah Coal Services - Australia
- Jaiprakash Power Ventures ltd
- GN Power Mariveles Coal Plant, Philippines
- Energy Development Corp, Philippines
- Sakthi Sugars Limited - India
- Price Waterhouse Coopers - Russia
- McConnell Dowell - Australia
- Global Green Power PLC Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Sojitz Corporation - Japan
- Electricity Generating Authority of Thailand
- Aditya Birla Group - India
- Renaissance Capital - South Africa
- Merrill Lynch Commodities Europe
- Kohat Cement Company Ltd. - Pakistan
- Ind-Barath Power Infra Limited - India
- Manunggal Multi Energi - Indonesia
- Meenaskhi Energy Private Limited - India
- PNOC Exploration Corporation - Philippines
- Borneo Indobara - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Vijayanagar Sugar Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- Central Electricity Authority - India
- Karbindo Abesyapradhi - Indoneisa
- Savvy Resources Ltd - HongKong
- Australian Coal Association
- Attock Cement Pakistan Limited
- CIMB Investment Bank - Malaysia
- Asmin Koalindo Tuhup - Indonesia
- South Luzon Thermal Energy Corporation
- Bhoruka Overseas - Indonesia
- White Energy Company Limited
- Ceylon Electricity Board - Sri Lanka
- Coal and Oil Company - UAE
- Salva Resources Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- Trasteel International SA, Italy
- Grasim Industreis Ltd - India
- Independent Power Producers Association of India
- Standard Chartered Bank - UAE
- MS Steel International - UAE
- Leighton Contractors Pty Ltd - Australia
- Ministry of Mines - Canada
- Planning Commission, India
- Star Paper Mills Limited - India
- Rashtriya Ispat Nigam Limited - India
- Agrawal Coal Company - India
- Antam Resourcindo - Indonesia
- Singapore Mercantile Exchange
- Gujarat Electricity Regulatory Commission - India
- Goldman Sachs - Singapore
- Larsen & Toubro Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Meralco Power Generation, Philippines
- The Treasury - Australian Government
- PowerSource Philippines DevCo
- SN Aboitiz Power Inc, Philippines
- Dalmia Cement Bharat India
- Semirara Mining Corp, Philippines
- Billiton Holdings Pty Ltd - Australia
- Bhushan Steel Limited - India
- The University of Queensland
- Bayan Resources Tbk. - Indonesia
- Latin American Coal - Colombia
- LBH Netherlands Bv - Netherlands
- Directorate Of Revenue Intelligence - India
- Indika Energy - Indonesia
- Minerals Council of Australia
- CNBM International Corporation - China
- Kalimantan Lumbung Energi - Indonesia
- Madhucon Powers Ltd - India
- Kobexindo Tractors - Indoneisa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Thiess Contractors Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Mercator Lines Limited - India
- Holcim Trading Pte Ltd - Singapore
- International Coal Ventures Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Aboitiz Power Corporation - Philippines
- London Commodity Brokers - England
- Tamil Nadu electricity Board
- Indian Energy Exchange, India
- Alfred C Toepfer International GmbH - Germany
- Kumho Petrochemical, South Korea
- Metalloyd Limited - United Kingdom
- Jindal Steel & Power Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Krishnapatnam Port Company Ltd. - India
- Carbofer General Trading SA - India
- PTC India Limited - India
- Timah Investasi Mineral - Indoneisa
- Interocean Group of Companies - India
- PetroVietnam Power Coal Import and Supply Company
- Global Coal Blending Company Limited - Australia
- Gujarat Sidhee Cement - India
- Edison Trading Spa - Italy
- Bulk Trading Sa - Switzerland
- Oldendorff Carriers - Singapore
- European Bulk Services B.V. - Netherlands
- Pendopo Energi Batubara - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Uttam Galva Steels Limited - India
- Tata Chemicals Ltd - India
- Sarangani Energy Corporation, Philippines
- New Zealand Coal & Carbon
- Altura Mining Limited, Indonesia
- Indo Tambangraya Megah - Indonesia
- IEA Clean Coal Centre - UK
- Mintek Dendrill Indonesia
- The State Trading Corporation of India Ltd
- Wood Mackenzie - Singapore
- Bangladesh Power Developement Board
- Economic Council, Georgia
- Eastern Energy - Thailand
- Georgia Ports Authority, United States
- Romanian Commodities Exchange
- India Bulls Power Limited - India
- Ambuja Cements Ltd - India
- Petron Corporation, Philippines
- Barasentosa Lestari - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- Cigading International Bulk Terminal - Indonesia
- Mjunction Services Limited - India
- Ministry of Finance - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Wilmar Investment Holdings
- Australian Commodity Traders Exchange
- Africa Commodities Group - South Africa
- Vedanta Resources Plc - India
- TNB Fuel Sdn Bhd - Malaysia
- Commonwealth Bank - Australia
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