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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, 13 January 13
THE FREIGHT MARKET: FAIRLY STEADY - VISTAAR
COALspot.com - The freight market was fairly steady with all the indices up with maximum gain in the Panamax segment. The BDI was up by 7.65 pct clo ...
Saturday, 12 January 13
SUB-BIT FOB INDONESIA COAL SWAPS: WEAK
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) for average Q1’ 2013 delivery has lost 0.32 percent WoW but CFR South China coal ship ...
Saturday, 12 January 13
HIGHER COAL PRICES: SEASONAL EFFECT
COALspot.com : Bahana Securities, one of the leading securities in Indonesia, said in its latest coal outlook that, on US and China&rsquo ...
Friday, 11 January 13
HBA HAS JUMPED BY US$ 5.80 PMT IN JANUARY 2013
COALspot.com - The Indonesian government has declared bench mark price for coal higher than December price. The monthly coal reference price f ...
Thursday, 10 January 13
PANAMAX : SOME GLIMMERS OF HOPE MID WEEK - FEARNLEYS
According to Fearnley’s weekly report, the Atlantic handy market is stable with rates around USD 11k for Cont-Feast and USD 17k bss USG/Feast. ...
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- Economic Council, Georgia
- Sical Logistics Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Port Waratah Coal Services - Australia
- Carbofer General Trading SA - India
- Karbindo Abesyapradhi - Indoneisa
- Standard Chartered Bank - UAE
- Alfred C Toepfer International GmbH - Germany
- Metalloyd Limited - United Kingdom
- Essar Steel Hazira Ltd - India
- Meralco Power Generation, Philippines
- Indian Oil Corporation Limited
- Sarangani Energy Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- PetroVietnam Power Coal Import and Supply Company
- European Bulk Services B.V. - Netherlands
- PTC India Limited - India
- Jindal Steel & Power Ltd - India
- Indika Energy - Indonesia
- Global Business Power Corporation, Philippines
- Global Green Power PLC Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- Thai Mozambique Logistica
- Agrawal Coal Company - India
- Vijayanagar Sugar Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- Rio Tinto Coal - Australia
- Vizag Seaport Private Limited - India
- Sinarmas Energy and Mining - Indonesia
- IEA Clean Coal Centre - UK
- London Commodity Brokers - England
- Bank of Tokyo Mitsubishi UFJ Ltd
- TNB Fuel Sdn Bhd - Malaysia
- Billiton Holdings Pty Ltd - Australia
- Orica Mining Services - Indonesia
- Chamber of Mines of South Africa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Wilmar Investment Holdings
- Indo Tambangraya Megah - Indonesia
- Semirara Mining Corp, Philippines
- Directorate General of MIneral and Coal - Indonesia
- SMC Global Power, Philippines
- Romanian Commodities Exchange
- Ministry of Transport, Egypt
- Intertek Mineral Services - Indonesia
- Bangladesh Power Developement Board
- Central Java Power - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Siam City Cement - Thailand
- Altura Mining Limited, Indonesia
- Australian Coal Association
- Cement Manufacturers Association - India
- Electricity Authority, New Zealand
- SMG Consultants - Indonesia
- Indogreen Group - Indonesia
- South Luzon Thermal Energy Corporation
- Holcim Trading Pte Ltd - Singapore
- Ministry of Finance - Indonesia
- Therma Luzon, Inc, Philippines
- Latin American Coal - Colombia
- Sindya Power Generating Company Private Ltd
- Malabar Cements Ltd - India
- Planning Commission, India
- Parry Sugars Refinery, India
- Bhushan Steel Limited - India
- Aboitiz Power Corporation - Philippines
- San Jose City I Power Corp, Philippines
- Gujarat Mineral Development Corp Ltd - India
- ASAPP Information Group - India
- Bhatia International Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ambuja Cements Ltd - India
- OPG Power Generation Pvt Ltd - India
- Oldendorff Carriers - Singapore
- Eastern Coal Council - USA
- Thiess Contractors Indonesia
- CNBM International Corporation - China
- The State Trading Corporation of India Ltd
- India Bulls Power Limited - India
- IHS Mccloskey Coal Group - USA
- Pipit Mutiara Jaya. PT, Indonesia
- Heidelberg Cement - Germany
- Coastal Gujarat Power Limited - India
- Binh Thuan Hamico - Vietnam
- Ceylon Electricity Board - Sri Lanka
- Africa Commodities Group - South Africa
- Jaiprakash Power Ventures ltd
- Kaltim Prima Coal - Indonesia
- Minerals Council of Australia
- Kapuas Tunggal Persada - Indonesia
- Madhucon Powers Ltd - India
- PNOC Exploration Corporation - Philippines
- Toyota Tsusho Corporation, Japan
- Bukit Asam (Persero) Tbk - Indonesia
- TeaM Sual Corporation - Philippines
- Australian Commodity Traders Exchange
- Maheswari Brothers Coal Limited - India
- Simpson Spence & Young - Indonesia
- Bukit Makmur.PT - Indonesia
- Globalindo Alam Lestari - Indonesia
- Georgia Ports Authority, United States
- Baramulti Group, Indonesia
- Cigading International Bulk Terminal - Indonesia
- Energy Link Ltd, New Zealand
- Xindia Steels Limited - India
- Medco Energi Mining Internasional
- Parliament of New Zealand
- Sakthi Sugars Limited - India
- Anglo American - United Kingdom
- Posco Energy - South Korea
- Siam City Cement PLC, Thailand
- Vedanta Resources Plc - India
- Antam Resourcindo - Indonesia
- SN Aboitiz Power Inc, Philippines
- Gujarat Sidhee Cement - India
- Kalimantan Lumbung Energi - Indonesia
- Salva Resources Pvt Ltd - India
- Indian Energy Exchange, India
- Makarim & Taira - Indonesia
- Barasentosa Lestari - Indonesia
- Goldman Sachs - Singapore
- Mercuria Energy - Indonesia
- Deloitte Consulting - India
- Central Electricity Authority - India
- Kohat Cement Company Ltd. - Pakistan
- Borneo Indobara - Indonesia
- Commonwealth Bank - Australia
- Straits Asia Resources Limited - Singapore
- Kartika Selabumi Mining - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Mercator Lines Limited - India
- Orica Australia Pty. Ltd.
- Aditya Birla Group - India
- Formosa Plastics Group - Taiwan
- Larsen & Toubro Limited - India
- McConnell Dowell - Australia
- Singapore Mercantile Exchange
- Uttam Galva Steels Limited - India
- Banpu Public Company Limited - Thailand
- Timah Investasi Mineral - Indoneisa
- Bhoruka Overseas - Indonesia
- Kepco SPC Power Corporation, Philippines
- GMR Energy Limited - India
- Coal and Oil Company - UAE
- Neyveli Lignite Corporation Ltd, - India
- Ind-Barath Power Infra Limited - India
- Videocon Industries ltd - India
- Tata Chemicals Ltd - India
- Dalmia Cement Bharat India
- The University of Queensland
- Wood Mackenzie - Singapore
- Leighton Contractors Pty Ltd - Australia
- Coalindo Energy - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Interocean Group of Companies - India
- Riau Bara Harum - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sojitz Corporation - Japan
- Power Finance Corporation Ltd., India
- CIMB Investment Bank - Malaysia
- Directorate Of Revenue Intelligence - India
- Global Coal Blending Company Limited - Australia
- Energy Development Corp, Philippines
- Eastern Energy - Thailand
- The Treasury - Australian Government
- Kumho Petrochemical, South Korea
- Bayan Resources Tbk. - Indonesia
- Renaissance Capital - South Africa
- Price Waterhouse Coopers - Russia
- Tamil Nadu electricity Board
- VISA Power Limited - India
- Sree Jayajothi Cements Limited - India
- Rashtriya Ispat Nigam Limited - India
- Bukit Baiduri Energy - Indonesia
- PowerSource Philippines DevCo
- Asmin Koalindo Tuhup - Indonesia
- Karaikal Port Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- New Zealand Coal & Carbon
- GVK Power & Infra Limited - India
- Trasteel International SA, Italy
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Chettinad Cement Corporation Ltd - India
- Indonesian Coal Mining Association
- Kobexindo Tractors - Indoneisa
- Savvy Resources Ltd - HongKong
- Pendopo Energi Batubara - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Electricity Generating Authority of Thailand
- Ministry of Mines - Canada
- Mintek Dendrill Indonesia
- Manunggal Multi Energi - Indonesia
- Kideco Jaya Agung - Indonesia
- Bulk Trading Sa - Switzerland
- Petron Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Merrill Lynch Commodities Europe
- MS Steel International - UAE
- Samtan Co., Ltd - South Korea
- Star Paper Mills Limited - India
- Independent Power Producers Association of India
- Edison Trading Spa - Italy
- White Energy Company Limited
- Mjunction Services Limited - India
- Bharathi Cement Corporation - India
- Petrochimia International Co. Ltd.- Taiwan
- International Coal Ventures Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- Lanco Infratech Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Marubeni Corporation - India
- Grasim Industreis Ltd - India
- Iligan Light & Power Inc, Philippines
- Miang Besar Coal Terminal - Indonesia
- ICICI Bank Limited - India
- Attock Cement Pakistan Limited
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