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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, 06 January 13
FREIGHT MARKET REMAINED FAIRLY STEADY - VISTAAR
WISH YOU ALL HAPPY NEW YEAR
COALspot.com - The freight market remained fairly steady in spite of Christmas / New Year Holidays. The BDI was almos ...
Saturday, 05 January 13
THE SHIPPING MARKET IN 2012 AND LOOKING FORWARD - BIMCO
Global Economy: Things will go up from here
The global economy continues to grow, albeit at a slower pace than previous years. The slower economic ...
Friday, 04 January 13
DRY BULK MARKET LOOKING FOR DIRECTION IN FIRST TRADING DAYS OF THE NEW YEAR - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The dry bulk market is actively looking for its footing at the start of the New Year, as charters have been scarce, as is usually the case during th ...
Thursday, 03 January 13
INDONESIAN SUB-BITUMINOUS COAL SWAPS CLOSED US$ 6.86 HIGHER FOR 2014 DELIVERY
COALspot.com - Swaps prices were changed positively for thermal coal for loading in the first quarter from Indonesia, according to SGX AsiaClear OTC ...
Thursday, 03 January 13
SUPRMAX FREIGHT RATE FROM RED SEA / INDIA IS AROUND MID TEENS - FEARNLEYS
Fearnleys in its weekly report said that, Indian market was very quiet in respect of export of iron ore. For Indo-India trip Supra rate was hovering ...
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- Singapore Mercantile Exchange
- Wilmar Investment Holdings
- Holcim Trading Pte Ltd - Singapore
- Karaikal Port Pvt Ltd - India
- Australian Coal Association
- Electricity Authority, New Zealand
- Bangladesh Power Developement Board
- Edison Trading Spa - Italy
- Jaiprakash Power Ventures ltd
- Therma Luzon, Inc, Philippines
- MS Steel International - UAE
- Savvy Resources Ltd - HongKong
- Vijayanagar Sugar Pvt Ltd - India
- New Zealand Coal & Carbon
- Parry Sugars Refinery, India
- Bhoruka Overseas - Indonesia
- GVK Power & Infra Limited - India
- Baramulti Group, Indonesia
- India Bulls Power Limited - India
- Indika Energy - Indonesia
- Meralco Power Generation, Philippines
- White Energy Company Limited
- Altura Mining Limited, Indonesia
- Ind-Barath Power Infra Limited - India
- Mercuria Energy - Indonesia
- Makarim & Taira - Indonesia
- PowerSource Philippines DevCo
- Price Waterhouse Coopers - Russia
- Kepco SPC Power Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Central Java Power - Indonesia
- Lanco Infratech Ltd - India
- Indonesian Coal Mining Association
- Jindal Steel & Power Ltd - India
- Eastern Coal Council - USA
- GAC Shipping (India) Pvt Ltd
- Sakthi Sugars Limited - India
- Salva Resources Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- CNBM International Corporation - China
- Maharashtra Electricity Regulatory Commission - India
- Independent Power Producers Association of India
- Grasim Industreis Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Global Business Power Corporation, Philippines
- Attock Cement Pakistan Limited
- Sarangani Energy Corporation, Philippines
- Larsen & Toubro Limited - India
- Vizag Seaport Private Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Africa Commodities Group - South Africa
- Ministry of Transport, Egypt
- Asmin Koalindo Tuhup - Indonesia
- Ambuja Cements Ltd - India
- Bayan Resources Tbk. - Indonesia
- Indo Tambangraya Megah - Indonesia
- Barasentosa Lestari - Indonesia
- Power Finance Corporation Ltd., India
- Gujarat Mineral Development Corp Ltd - India
- Borneo Indobara - Indonesia
- Medco Energi Mining Internasional
- Commonwealth Bank - Australia
- Indian Energy Exchange, India
- Aditya Birla Group - India
- Leighton Contractors Pty Ltd - Australia
- Thai Mozambique Logistica
- Wood Mackenzie - Singapore
- Sinarmas Energy and Mining - Indonesia
- Energy Development Corp, Philippines
- McConnell Dowell - Australia
- Kalimantan Lumbung Energi - Indonesia
- CIMB Investment Bank - Malaysia
- Alfred C Toepfer International GmbH - Germany
- Krishnapatnam Port Company Ltd. - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kapuas Tunggal Persada - Indonesia
- SMC Global Power, Philippines
- Globalindo Alam Lestari - Indonesia
- Energy Link Ltd, New Zealand
- ASAPP Information Group - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Georgia Ports Authority, United States
- Renaissance Capital - South Africa
- Australian Commodity Traders Exchange
- Agrawal Coal Company - India
- The Treasury - Australian Government
- SMG Consultants - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Simpson Spence & Young - Indonesia
- Sree Jayajothi Cements Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Coastal Gujarat Power Limited - India
- Essar Steel Hazira Ltd - India
- Carbofer General Trading SA - India
- Petron Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- International Coal Ventures Pvt Ltd - India
- Antam Resourcindo - Indonesia
- Kideco Jaya Agung - Indonesia
- Binh Thuan Hamico - Vietnam
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Merrill Lynch Commodities Europe
- Meenaskhi Energy Private Limited - India
- Oldendorff Carriers - Singapore
- OPG Power Generation Pvt Ltd - India
- Parliament of New Zealand
- Heidelberg Cement - Germany
- GMR Energy Limited - India
- Bukit Makmur.PT - Indonesia
- Ceylon Electricity Board - Sri Lanka
- GN Power Mariveles Coal Plant, Philippines
- London Commodity Brokers - England
- Billiton Holdings Pty Ltd - Australia
- Rio Tinto Coal - Australia
- Malabar Cements Ltd - India
- European Bulk Services B.V. - Netherlands
- Global Green Power PLC Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Minerals Council of Australia
- Bukit Baiduri Energy - Indonesia
- Bhatia International Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Gujarat Sidhee Cement - India
- LBH Netherlands Bv - Netherlands
- Uttam Galva Steels Limited - India
- Bharathi Cement Corporation - India
- Standard Chartered Bank - UAE
- Ministry of Finance - Indonesia
- Romanian Commodities Exchange
- Electricity Generating Authority of Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- Coalindo Energy - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Bulk Trading Sa - Switzerland
- Offshore Bulk Terminal Pte Ltd, Singapore
- Formosa Plastics Group - Taiwan
- Port Waratah Coal Services - Australia
- Timah Investasi Mineral - Indoneisa
- Intertek Mineral Services - Indonesia
- PNOC Exploration Corporation - Philippines
- SN Aboitiz Power Inc, Philippines
- TeaM Sual Corporation - Philippines
- Mintek Dendrill Indonesia
- Deloitte Consulting - India
- Latin American Coal - Colombia
- AsiaOL BioFuels Corp., Philippines
- Economic Council, Georgia
- Star Paper Mills Limited - India
- ICICI Bank Limited - India
- Vedanta Resources Plc - India
- Riau Bara Harum - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Bukit Asam (Persero) Tbk - Indonesia
- IEA Clean Coal Centre - UK
- Metalloyd Limited - United Kingdom
- Straits Asia Resources Limited - Singapore
- Mjunction Services Limited - India
- Toyota Tsusho Corporation, Japan
- Maheswari Brothers Coal Limited - India
- Sojitz Corporation - Japan
- Aboitiz Power Corporation - Philippines
- Bhushan Steel Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Xindia Steels Limited - India
- Mercator Lines Limited - India
- Semirara Mining Corp, Philippines
- Semirara Mining and Power Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Trasteel International SA, Italy
- Tata Chemicals Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Kumho Petrochemical, South Korea
- Videocon Industries ltd - India
- Kaltim Prima Coal - Indonesia
- Ministry of Mines - Canada
- Central Electricity Authority - India
- San Jose City I Power Corp, Philippines
- Kobexindo Tractors - Indoneisa
- Pendopo Energi Batubara - Indonesia
- Global Coal Blending Company Limited - Australia
- Anglo American - United Kingdom
- Orica Mining Services - Indonesia
- Sical Logistics Limited - India
- IHS Mccloskey Coal Group - USA
- Cement Manufacturers Association - India
- Indian Oil Corporation Limited
- Siam City Cement PLC, Thailand
- Kartika Selabumi Mining - Indonesia
- Chettinad Cement Corporation Ltd - India
- Dalmia Cement Bharat India
- Chamber of Mines of South Africa
- PTC India Limited - India
- Madhucon Powers Ltd - India
- Planning Commission, India
- Eastern Energy - Thailand
- Indogreen Group - Indonesia
- Interocean Group of Companies - India
- South Luzon Thermal Energy Corporation
- Coal and Oil Company - UAE
- Thiess Contractors Indonesia
- Goldman Sachs - Singapore
- Samtan Co., Ltd - South Korea
- Tamil Nadu electricity Board
- VISA Power Limited - India
- The University of Queensland
- Marubeni Corporation - India
- Posco Energy - South Korea
- Orica Australia Pty. Ltd.
- Siam City Cement - Thailand
- Banpu Public Company Limited - Thailand
- Directorate Of Revenue Intelligence - India
- Sindya Power Generating Company Private Ltd
- The State Trading Corporation of India Ltd
- Iligan Light & Power Inc, Philippines
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