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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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Wednesday, 26 December 12
SHIP OWNERS WRAP UP NEWBUILDING DEALS PRIOR TO YEAR END - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
As the year inches closer and closer to its end, many ship owners are looking to close deals for newbuilding vessels they have been negotiating duri ...
Monday, 24 December 12
CONSTITUTIONAL COURT DECISION MAY FURTHER DELAY THE ISSUANCE OF NEW MINING BUSINESS LICENCES - TJEN SHE SIUNG
COALspot.com - In November 2012 the Constitutional Court of Indonesia issued a decision on amendments to certain provisions under the Mining Law No. ...
Monday, 24 December 12
BUNKER PRICES TO CONTINUE RISING, ALBEIT IN A SLOWER MODE, DURING THE NEXT FEW YEARS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEW
In a recent report, US-based consulting firm Mcquilling Services attempted to forecast the course of bunker prices during the next few years, as thi ...
Sunday, 23 December 12
Q4' 2013 CFR SOUTH CHINA COAL SWAP, US$ 3.40 HIGHER COMPARED TO Q1' 2013 PRICE
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) for average Q1’ 2013 delivery gained 1.94 percent M-M and WoW by 1.57percent but lost 0.35 ...
Saturday, 22 December 12
SECOND HAND VESSELS ENJOY HIGH DEMAND AS PRICES ARE ATTRACTIVE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Despite the fact that the year is closing to its end, activity in the second hand vessel market has been more than high. Ship owners are looking to ...
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- New Zealand Coal & Carbon
- Chamber of Mines of South Africa
- Lanco Infratech Ltd - India
- Kepco SPC Power Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Semirara Mining Corp, Philippines
- Africa Commodities Group - South Africa
- ICICI Bank Limited - India
- Mercator Lines Limited - India
- Straits Asia Resources Limited - Singapore
- Posco Energy - South Korea
- Binh Thuan Hamico - Vietnam
- Indian Oil Corporation Limited
- Ind-Barath Power Infra Limited - India
- Metalloyd Limited - United Kingdom
- Goldman Sachs - Singapore
- Indogreen Group - Indonesia
- Kideco Jaya Agung - Indonesia
- Madhucon Powers Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Dalmia Cement Bharat India
- Intertek Mineral Services - Indonesia
- Therma Luzon, Inc, Philippines
- IEA Clean Coal Centre - UK
- Vijayanagar Sugar Pvt Ltd - India
- Merrill Lynch Commodities Europe
- Bulk Trading Sa - Switzerland
- Bukit Makmur.PT - Indonesia
- Anglo American - United Kingdom
- Holcim Trading Pte Ltd - Singapore
- Antam Resourcindo - Indonesia
- Meenaskhi Energy Private Limited - India
- Power Finance Corporation Ltd., India
- Semirara Mining and Power Corporation, Philippines
- Trasteel International SA, Italy
- Port Waratah Coal Services - Australia
- Simpson Spence & Young - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- VISA Power Limited - India
- Minerals Council of Australia
- Orica Australia Pty. Ltd.
- Agrawal Coal Company - India
- White Energy Company Limited
- Parliament of New Zealand
- Sarangani Energy Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Tata Chemicals Ltd - India
- Carbofer General Trading SA - India
- Wilmar Investment Holdings
- SN Aboitiz Power Inc, Philippines
- Renaissance Capital - South Africa
- TNB Fuel Sdn Bhd - Malaysia
- Gujarat Sidhee Cement - India
- GMR Energy Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bhatia International Limited - India
- Orica Mining Services - Indonesia
- SMC Global Power, Philippines
- Toyota Tsusho Corporation, Japan
- Global Coal Blending Company Limited - Australia
- Tamil Nadu electricity Board
- Salva Resources Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- Ministry of Finance - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Planning Commission, India
- Petrochimia International Co. Ltd.- Taiwan
- Marubeni Corporation - India
- Oldendorff Carriers - Singapore
- PNOC Exploration Corporation - Philippines
- SMG Consultants - Indonesia
- Directorate Of Revenue Intelligence - India
- Gujarat Electricity Regulatory Commission - India
- Essar Steel Hazira Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Ceylon Electricity Board - Sri Lanka
- LBH Netherlands Bv - Netherlands
- CNBM International Corporation - China
- Indika Energy - Indonesia
- Pendopo Energi Batubara - Indonesia
- European Bulk Services B.V. - Netherlands
- Global Green Power PLC Corporation, Philippines
- Australian Commodity Traders Exchange
- Electricity Authority, New Zealand
- Directorate General of MIneral and Coal - Indonesia
- Indo Tambangraya Megah - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Kartika Selabumi Mining - Indonesia
- Chettinad Cement Corporation Ltd - India
- Sree Jayajothi Cements Limited - India
- Makarim & Taira - Indonesia
- Global Business Power Corporation, Philippines
- Malabar Cements Ltd - India
- Edison Trading Spa - Italy
- Central Electricity Authority - India
- Indian Energy Exchange, India
- Economic Council, Georgia
- PowerSource Philippines DevCo
- Meralco Power Generation, Philippines
- India Bulls Power Limited - India
- Parry Sugars Refinery, India
- Krishnapatnam Port Company Ltd. - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Eastern Energy - Thailand
- MS Steel International - UAE
- Attock Cement Pakistan Limited
- San Jose City I Power Corp, Philippines
- Energy Development Corp, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Vizag Seaport Private Limited - India
- Ministry of Transport, Egypt
- Larsen & Toubro Limited - India
- Wood Mackenzie - Singapore
- South Luzon Thermal Energy Corporation
- Australian Coal Association
- The Treasury - Australian Government
- Georgia Ports Authority, United States
- Karaikal Port Pvt Ltd - India
- Interocean Group of Companies - India
- Medco Energi Mining Internasional
- London Commodity Brokers - England
- AsiaOL BioFuels Corp., Philippines
- Jorong Barutama Greston.PT - Indonesia
- Globalindo Alam Lestari - Indonesia
- Bangladesh Power Developement Board
- Bayan Resources Tbk. - Indonesia
- Coalindo Energy - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Star Paper Mills Limited - India
- Thai Mozambique Logistica
- PetroVietnam Power Coal Import and Supply Company
- McConnell Dowell - Australia
- Vedanta Resources Plc - India
- Savvy Resources Ltd - HongKong
- Coal and Oil Company - UAE
- Independent Power Producers Association of India
- Eastern Coal Council - USA
- OPG Power Generation Pvt Ltd - India
- Indonesian Coal Mining Association
- Bukit Asam (Persero) Tbk - Indonesia
- Sakthi Sugars Limited - India
- Latin American Coal - Colombia
- IHS Mccloskey Coal Group - USA
- Miang Besar Coal Terminal - Indonesia
- Petron Corporation, Philippines
- TeaM Sual Corporation - Philippines
- Mercuria Energy - Indonesia
- Uttam Galva Steels Limited - India
- Aditya Birla Group - India
- Kumho Petrochemical, South Korea
- Jindal Steel & Power Ltd - India
- Sindya Power Generating Company Private Ltd
- Bhoruka Overseas - Indonesia
- Thiess Contractors Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Grasim Industreis Ltd - India
- Borneo Indobara - Indonesia
- Electricity Generating Authority of Thailand
- The State Trading Corporation of India Ltd
- Riau Bara Harum - Indonesia
- Bhushan Steel Limited - India
- Mjunction Services Limited - India
- Ambuja Cements Ltd - India
- Romanian Commodities Exchange
- Cement Manufacturers Association - India
- Videocon Industries ltd - India
- The University of Queensland
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Barasentosa Lestari - Indonesia
- Banpu Public Company Limited - Thailand
- Offshore Bulk Terminal Pte Ltd, Singapore
- GAC Shipping (India) Pvt Ltd
- Bukit Baiduri Energy - Indonesia
- ASAPP Information Group - India
- Central Java Power - Indonesia
- GVK Power & Infra Limited - India
- Cigading International Bulk Terminal - Indonesia
- International Coal Ventures Pvt Ltd - India
- Siam City Cement PLC, Thailand
- Sical Logistics Limited - India
- Bharathi Cement Corporation - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kapuas Tunggal Persada - Indonesia
- Formosa Plastics Group - Taiwan
- Maheswari Brothers Coal Limited - India
- Xindia Steels Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Price Waterhouse Coopers - Russia
- Mintek Dendrill Indonesia
- PTC India Limited - India
- Rashtriya Ispat Nigam Limited - India
- Singapore Mercantile Exchange
- Standard Chartered Bank - UAE
- Kaltim Prima Coal - Indonesia
- Iligan Light & Power Inc, Philippines
- CIMB Investment Bank - Malaysia
- Billiton Holdings Pty Ltd - Australia
- Baramulti Group, Indonesia
- Alfred C Toepfer International GmbH - Germany
- Samtan Co., Ltd - South Korea
- Heidelberg Cement - Germany
- Kobexindo Tractors - Indoneisa
- Ministry of Mines - Canada
- Sojitz Corporation - Japan
- Bank of Tokyo Mitsubishi UFJ Ltd
- Energy Link Ltd, New Zealand
- Commonwealth Bank - Australia
- Manunggal Multi Energi - Indonesia
- Siam City Cement - Thailand
- Karbindo Abesyapradhi - Indoneisa
- Deloitte Consulting - India
- Altura Mining Limited, Indonesia
- Coastal Gujarat Power Limited - India
- Jaiprakash Power Ventures ltd
- Aboitiz Power Corporation - Philippines
- Rio Tinto Coal - Australia
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