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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, 15 January 13
GRANT SMITH APPOINTED GROUP MANAGING DIRECTOR OF BRAEMAR ADJUSTING
The Board of Braemar Adjusting is delighted to announce the appointment of Grant Smith as Group Managing Director of the company with immediate effe ...
Tuesday, 15 January 13
2ND MYANMAR MINING SUMMIT & OFFICIAL HOST MINISTRY OF MINES TO WELCOME OVER 200 DELEGATES NEXT WEEK
Press Release: The Ministry of Mines is hosting the 2nd Myanmar Mining Summit in Yangon on 21-24 January to unravel the local mining climate, prospe ...
Monday, 14 January 13
NEWCASTLE PORT SHIPPED 2.32 PERCENT LESS COAL W/E 14 JANUARY 2013
COALspot.com - Newcastle port in Australia has loaded 3,123,312 MT of thermal and coking coal for week ended 0700 hours 14 January 2013, Newca ...
Monday, 14 January 13
THE COAL MONGOLIA - 2013 OFFICIALLY IN COOPERATION WITH TOP MINING COMPANIES
Press Release: Mongolian first mining portal site Mining.mn has already started its preparation of the International Conference “COAL MONGOLIA ...
Monday, 14 January 13
NTPC INVITES BIDS FOR 500K MT OF IMPORTED COAL
COALspot.com - NTPC Limited (formerly National Thermal Power Corporation) is the largest Indian state-owned electric utilities company called for a ...
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- European Bulk Services B.V. - Netherlands
- Kapuas Tunggal Persada - Indonesia
- Commonwealth Bank - Australia
- Standard Chartered Bank - UAE
- SMG Consultants - Indonesia
- Antam Resourcindo - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Iligan Light & Power Inc, Philippines
- ASAPP Information Group - India
- TNB Fuel Sdn Bhd - Malaysia
- SN Aboitiz Power Inc, Philippines
- TeaM Sual Corporation - Philippines
- Sical Logistics Limited - India
- India Bulls Power Limited - India
- Bangladesh Power Developement Board
- CNBM International Corporation - China
- Edison Trading Spa - Italy
- IHS Mccloskey Coal Group - USA
- Semirara Mining Corp, Philippines
- Bhoruka Overseas - Indonesia
- Bukit Makmur.PT - Indonesia
- Ambuja Cements Ltd - India
- Tata Chemicals Ltd - India
- Essar Steel Hazira Ltd - India
- Manunggal Multi Energi - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Georgia Ports Authority, United States
- Anglo American - United Kingdom
- Ministry of Mines - Canada
- Petron Corporation, Philippines
- Africa Commodities Group - South Africa
- Neyveli Lignite Corporation Ltd, - India
- Romanian Commodities Exchange
- Indonesian Coal Mining Association
- Minerals Council of Australia
- Indika Energy - Indonesia
- International Coal Ventures Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Globalindo Alam Lestari - Indonesia
- GMR Energy Limited - India
- Mercuria Energy - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Carbofer General Trading SA - India
- Eastern Energy - Thailand
- Bharathi Cement Corporation - India
- Banpu Public Company Limited - Thailand
- Mintek Dendrill Indonesia
- Power Finance Corporation Ltd., India
- Kohat Cement Company Ltd. - Pakistan
- Parry Sugars Refinery, India
- ICICI Bank Limited - India
- Renaissance Capital - South Africa
- Jindal Steel & Power Ltd - India
- Vizag Seaport Private Limited - India
- Thiess Contractors Indonesia
- OPG Power Generation Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- Electricity Generating Authority of Thailand
- Metalloyd Limited - United Kingdom
- London Commodity Brokers - England
- Riau Bara Harum - Indonesia
- Indian Oil Corporation Limited
- Grasim Industreis Ltd - India
- Energy Link Ltd, New Zealand
- Indogreen Group - Indonesia
- Planning Commission, India
- The State Trading Corporation of India Ltd
- Formosa Plastics Group - Taiwan
- Vijayanagar Sugar Pvt Ltd - India
- Central Java Power - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Vedanta Resources Plc - India
- Larsen & Toubro Limited - India
- Intertek Mineral Services - Indonesia
- Straits Asia Resources Limited - Singapore
- McConnell Dowell - Australia
- Timah Investasi Mineral - Indoneisa
- Bhatia International Limited - India
- LBH Netherlands Bv - Netherlands
- Ceylon Electricity Board - Sri Lanka
- Meenaskhi Energy Private Limited - India
- Malabar Cements Ltd - India
- The University of Queensland
- Krishnapatnam Port Company Ltd. - India
- Aboitiz Power Corporation - Philippines
- Posco Energy - South Korea
- Port Waratah Coal Services - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- New Zealand Coal & Carbon
- Lanco Infratech Ltd - India
- PowerSource Philippines DevCo
- Wilmar Investment Holdings
- Ministry of Transport, Egypt
- Kartika Selabumi Mining - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Coastal Gujarat Power Limited - India
- IEA Clean Coal Centre - UK
- CIMB Investment Bank - Malaysia
- Medco Energi Mining Internasional
- Samtan Co., Ltd - South Korea
- Singapore Mercantile Exchange
- Directorate General of MIneral and Coal - Indonesia
- Simpson Spence & Young - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Salva Resources Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- The Treasury - Australian Government
- Kideco Jaya Agung - Indonesia
- Orica Mining Services - Indonesia
- Orica Australia Pty. Ltd.
- Central Electricity Authority - India
- Trasteel International SA, Italy
- Savvy Resources Ltd - HongKong
- Mjunction Services Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Energy Development Corp, Philippines
- Cigading International Bulk Terminal - Indonesia
- Chamber of Mines of South Africa
- Goldman Sachs - Singapore
- Australian Commodity Traders Exchange
- Indo Tambangraya Megah - Indonesia
- Coal and Oil Company - UAE
- Heidelberg Cement - Germany
- Thai Mozambique Logistica
- Binh Thuan Hamico - Vietnam
- Alfred C Toepfer International GmbH - Germany
- Marubeni Corporation - India
- GAC Shipping (India) Pvt Ltd
- Price Waterhouse Coopers - Russia
- Bhushan Steel Limited - India
- MS Steel International - UAE
- Gujarat Sidhee Cement - India
- Australian Coal Association
- Oldendorff Carriers - Singapore
- Wood Mackenzie - Singapore
- Global Coal Blending Company Limited - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Rio Tinto Coal - Australia
- Madhucon Powers Ltd - India
- Meralco Power Generation, Philippines
- Sarangani Energy Corporation, Philippines
- Dalmia Cement Bharat India
- Gujarat Electricity Regulatory Commission - India
- Pipit Mutiara Jaya. PT, Indonesia
- SMC Global Power, Philippines
- Ministry of Finance - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- San Jose City I Power Corp, Philippines
- PTC India Limited - India
- Eastern Coal Council - USA
- Billiton Holdings Pty Ltd - Australia
- Ind-Barath Power Infra Limited - India
- Star Paper Mills Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Chettinad Cement Corporation Ltd - India
- Bukit Baiduri Energy - Indonesia
- Toyota Tsusho Corporation, Japan
- Barasentosa Lestari - Indonesia
- Mercator Lines Limited - India
- Aditya Birla Group - India
- Borneo Indobara - Indonesia
- Directorate Of Revenue Intelligence - India
- Economic Council, Georgia
- Altura Mining Limited, Indonesia
- Agrawal Coal Company - India
- GVK Power & Infra Limited - India
- Makarim & Taira - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Sakthi Sugars Limited - India
- Global Green Power PLC Corporation, Philippines
- Parliament of New Zealand
- Karaikal Port Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- Tamil Nadu electricity Board
- Maheswari Brothers Coal Limited - India
- Holcim Trading Pte Ltd - Singapore
- Kaltim Prima Coal - Indonesia
- Sindya Power Generating Company Private Ltd
- Coalindo Energy - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bayan Resources Tbk. - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Attock Cement Pakistan Limited
- Jaiprakash Power Ventures ltd
- PNOC Exploration Corporation - Philippines
- Semirara Mining and Power Corporation, Philippines
- Baramulti Group, Indonesia
- VISA Power Limited - India
- Sojitz Corporation - Japan
- Asmin Koalindo Tuhup - Indonesia
- Independent Power Producers Association of India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Therma Luzon, Inc, Philippines
- South Luzon Thermal Energy Corporation
- Deloitte Consulting - India
- Latin American Coal - Colombia
- Global Business Power Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Uttam Galva Steels Limited - India
- Kumho Petrochemical, South Korea
- Maharashtra Electricity Regulatory Commission - India
- Gujarat Mineral Development Corp Ltd - India
- Kobexindo Tractors - Indoneisa
- Pendopo Energi Batubara - Indonesia
- Interocean Group of Companies - India
- Siam City Cement PLC, Thailand
- Xindia Steels Limited - India
- Indian Energy Exchange, India
- Cement Manufacturers Association - India
- Videocon Industries ltd - India
- Electricity Authority, New Zealand
- Sinarmas Energy and Mining - Indonesia
- Merrill Lynch Commodities Europe
- White Energy Company Limited
- Siam City Cement - Thailand
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