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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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Monday, 31 December 12
"DISTRESSED", "ECO" AND "FINANCE" ARE THE THREE WORDS WHICH CHARACTERIZED 2012 - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
2012 was yet another year of speculation, anticipation, pessimism and more speculation in the shipping markets. According to the latest weekly repor ...
Saturday, 29 December 12
SHIPBREAKING YARDS IN INDIA DEMOLISH A TOTAL OF 527 VESSELS IN 2012, BREAKING ALL PREVIOUS RECORDS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
India's ship demolition experts of Star Matrix contemplated this week on the issue of why ships in the range of 1,000 and up to 6,500 liquid tons ( ...
Thursday, 27 December 12
A LOOK AT WORLD TRADE PATTERNS DURING 2013 - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
While China's leaders are likely to stick with the 2012 economic growth rate of 7.5% when they chart a course for 2013 - its weakest pace since 199 ...
Thursday, 27 December 12
INDONESIA SHIPPED 33.578* MMT COAL IN NOVEMBER
COALspot.com: Indonesia, the world largest multi grade coal exporter has shipped 33.578* million tons of coal in November 2012. thi ...
Wednesday, 26 December 12
UPDATE ON EXPORT BAN ON RAW MINERALS AND ORE - RITA SUSANTO
COALspot.com - In May 2012, the Minister of Energy and Mineral Resources (“MoEMR”) in Regulation No.7 (“Reg-7”, amended by R ...
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- ICICI Bank Limited - India
- Ind-Barath Power Infra Limited - India
- Kapuas Tunggal Persada - Indonesia
- Sojitz Corporation - Japan
- Altura Mining Limited, Indonesia
- Energy Development Corp, Philippines
- Latin American Coal - Colombia
- Gujarat Sidhee Cement - India
- Medco Energi Mining Internasional
- Salva Resources Pvt Ltd - India
- Mercuria Energy - Indonesia
- Ceylon Electricity Board - Sri Lanka
- TNB Fuel Sdn Bhd - Malaysia
- Carbofer General Trading SA - India
- Renaissance Capital - South Africa
- Karbindo Abesyapradhi - Indoneisa
- Sical Logistics Limited - India
- GMR Energy Limited - India
- Bulk Trading Sa - Switzerland
- Anglo American - United Kingdom
- Trasteel International SA, Italy
- Electricity Generating Authority of Thailand
- Straits Asia Resources Limited - Singapore
- Parry Sugars Refinery, India
- Bhoruka Overseas - Indonesia
- Simpson Spence & Young - Indonesia
- Chettinad Cement Corporation Ltd - India
- Price Waterhouse Coopers - Russia
- Parliament of New Zealand
- San Jose City I Power Corp, Philippines
- Malabar Cements Ltd - India
- Minerals Council of Australia
- Indian Energy Exchange, India
- Indogreen Group - Indonesia
- Agrawal Coal Company - India
- Economic Council, Georgia
- Gujarat Electricity Regulatory Commission - India
- Globalindo Alam Lestari - Indonesia
- Formosa Plastics Group - Taiwan
- Deloitte Consulting - India
- Goldman Sachs - Singapore
- Port Waratah Coal Services - Australia
- Australian Coal Association
- Kobexindo Tractors - Indoneisa
- Leighton Contractors Pty Ltd - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ambuja Cements Ltd - India
- Oldendorff Carriers - Singapore
- Grasim Industreis Ltd - India
- Indika Energy - Indonesia
- London Commodity Brokers - England
- Karaikal Port Pvt Ltd - India
- New Zealand Coal & Carbon
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Wood Mackenzie - Singapore
- LBH Netherlands Bv - Netherlands
- Rio Tinto Coal - Australia
- SMG Consultants - Indonesia
- Directorate Of Revenue Intelligence - India
- Siam City Cement PLC, Thailand
- Heidelberg Cement - Germany
- GAC Shipping (India) Pvt Ltd
- PowerSource Philippines DevCo
- Holcim Trading Pte Ltd - Singapore
- Madhucon Powers Ltd - India
- White Energy Company Limited
- Standard Chartered Bank - UAE
- Jorong Barutama Greston.PT - Indonesia
- Romanian Commodities Exchange
- Bank of Tokyo Mitsubishi UFJ Ltd
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sree Jayajothi Cements Limited - India
- Wilmar Investment Holdings
- Iligan Light & Power Inc, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Jindal Steel & Power Ltd - India
- MS Steel International - UAE
- Lanco Infratech Ltd - India
- Vizag Seaport Private Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Star Paper Mills Limited - India
- PetroVietnam Power Coal Import and Supply Company
- CIMB Investment Bank - Malaysia
- Pipit Mutiara Jaya. PT, Indonesia
- South Luzon Thermal Energy Corporation
- OPG Power Generation Pvt Ltd - India
- Siam City Cement - Thailand
- Petron Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- Eastern Coal Council - USA
- Banpu Public Company Limited - Thailand
- Petrochimia International Co. Ltd.- Taiwan
- Indian Oil Corporation Limited
- Bahari Cakrawala Sebuku - Indonesia
- Global Green Power PLC Corporation, Philippines
- Orica Australia Pty. Ltd.
- Coastal Gujarat Power Limited - India
- Thai Mozambique Logistica
- Billiton Holdings Pty Ltd - Australia
- Tamil Nadu electricity Board
- Indonesian Coal Mining Association
- Sindya Power Generating Company Private Ltd
- Aditya Birla Group - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Timah Investasi Mineral - Indoneisa
- Riau Bara Harum - Indonesia
- Central Electricity Authority - India
- Energy Link Ltd, New Zealand
- Ministry of Mines - Canada
- Miang Besar Coal Terminal - Indonesia
- Samtan Co., Ltd - South Korea
- Africa Commodities Group - South Africa
- Gujarat Mineral Development Corp Ltd - India
- Binh Thuan Hamico - Vietnam
- Mjunction Services Limited - India
- Sarangani Energy Corporation, Philippines
- Singapore Mercantile Exchange
- Coal and Oil Company - UAE
- Vedanta Resources Plc - India
- India Bulls Power Limited - India
- Semirara Mining and Power Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Bukit Makmur.PT - Indonesia
- Alfred C Toepfer International GmbH - Germany
- CNBM International Corporation - China
- Kaltim Prima Coal - Indonesia
- Therma Luzon, Inc, Philippines
- Ministry of Finance - Indonesia
- Eastern Energy - Thailand
- Kepco SPC Power Corporation, Philippines
- The Treasury - Australian Government
- Intertek Mineral Services - Indonesia
- Larsen & Toubro Limited - India
- SN Aboitiz Power Inc, Philippines
- Kartika Selabumi Mining - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Global Coal Blending Company Limited - Australia
- Bharathi Cement Corporation - India
- Independent Power Producers Association of India
- Uttam Galva Steels Limited - India
- AsiaOL BioFuels Corp., Philippines
- SMC Global Power, Philippines
- Videocon Industries ltd - India
- Merrill Lynch Commodities Europe
- Makarim & Taira - Indonesia
- Tata Chemicals Ltd - India
- Orica Mining Services - Indonesia
- Attock Cement Pakistan Limited
- McConnell Dowell - Australia
- Semirara Mining Corp, Philippines
- Dalmia Cement Bharat India
- European Bulk Services B.V. - Netherlands
- GN Power Mariveles Coal Plant, Philippines
- Planning Commission, India
- Essar Steel Hazira Ltd - India
- Bukit Baiduri Energy - Indonesia
- Chamber of Mines of South Africa
- Metalloyd Limited - United Kingdom
- TeaM Sual Corporation - Philippines
- Edison Trading Spa - Italy
- Maharashtra Electricity Regulatory Commission - India
- Xindia Steels Limited - India
- Thiess Contractors Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Kideco Jaya Agung - Indonesia
- GVK Power & Infra Limited - India
- Bangladesh Power Developement Board
- The State Trading Corporation of India Ltd
- IHS Mccloskey Coal Group - USA
- Bhatia International Limited - India
- Mercator Lines Limited - India
- Central Java Power - Indonesia
- Barasentosa Lestari - Indonesia
- Posco Energy - South Korea
- Maheswari Brothers Coal Limited - India
- Toyota Tsusho Corporation, Japan
- Marubeni Corporation - India
- Georgia Ports Authority, United States
- Baramulti Group, Indonesia
- Bayan Resources Tbk. - Indonesia
- Savvy Resources Ltd - HongKong
- Commonwealth Bank - Australia
- Kohat Cement Company Ltd. - Pakistan
- The University of Queensland
- Manunggal Multi Energi - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Pendopo Energi Batubara - Indonesia
- Antam Resourcindo - Indonesia
- VISA Power Limited - India
- International Coal Ventures Pvt Ltd - India
- ASAPP Information Group - India
- Bukit Asam (Persero) Tbk - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- IEA Clean Coal Centre - UK
- Meenaskhi Energy Private Limited - India
- Power Finance Corporation Ltd., India
- Borneo Indobara - Indonesia
- PNOC Exploration Corporation - Philippines
- Australian Commodity Traders Exchange
- Interocean Group of Companies - India
- Aboitiz Power Corporation - Philippines
- Cigading International Bulk Terminal - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ministry of Transport, Egypt
- Sakthi Sugars Limited - India
- Electricity Authority, New Zealand
- Cement Manufacturers Association - India
- Directorate General of MIneral and Coal - Indonesia
- Bhushan Steel Limited - India
- Coalindo Energy - Indonesia
- Global Business Power Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Kumho Petrochemical, South Korea
- Jaiprakash Power Ventures ltd
- PTC India Limited - India
- Meralco Power Generation, Philippines
- Mintek Dendrill Indonesia
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