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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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Saturday, 22 December 12
FALL IN CAPE AND PANAMAX RATES DRAG BDI INDEX - VISTAAR
COALspot.com - The freight market further softened this week closing at 700 points (down by 10.71 pct). The cape index continued to fall and w ...
Saturday, 22 December 12
DELTA DUNIA MAKMUR PRODUCED 3.2 MILLION TONS OF COAL IN NOVEMBER' 12
COALspot.com - PT Delta Dunia Makmur Tbk., has removed 28.1 million bcm* (+1.8% YoY) of Overburden in November 2012 while coal production was at 3.2 ...
Friday, 21 December 12
JORC CODE, 2012 EDITION NOW FINALIZED
COALspot.com - The JORC Committee has announced that, the completion of the review of the JORC Code of 2012 Edition.
The JORC Code, 2012 Ed ...
Thursday, 20 December 12
COAL CLOSING IN ON OIL AS WORLD'S TOP ENERGY SOURCE BY 2017
COALspot.com - Coal’s share of the global energy mix continues to rise, and by 2017 coal will come close to surpassing oil as the world’ ...
Thursday, 20 December 12
CHINA'S IRON ORE AND COAL DEMAND WILL SHAPE THE CAPESIZE DRY BULK TRADE DURING 2013 - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Despite the best efforts from ship owners to help alleviate the current tonnage oversupply issue in the dry bulk segment, especially in the larger v ...
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- IEA Clean Coal Centre - UK
- Coastal Gujarat Power Limited - India
- Rio Tinto Coal - Australia
- Sakthi Sugars Limited - India
- Cement Manufacturers Association - India
- Mercator Lines Limited - India
- Central Electricity Authority - India
- Jaiprakash Power Ventures ltd
- Indian Oil Corporation Limited
- Independent Power Producers Association of India
- Global Coal Blending Company Limited - Australia
- Singapore Mercantile Exchange
- Larsen & Toubro Limited - India
- Indika Energy - Indonesia
- India Bulls Power Limited - India
- Kepco SPC Power Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- ASAPP Information Group - India
- Manunggal Multi Energi - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Sarangani Energy Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- London Commodity Brokers - England
- Sical Logistics Limited - India
- Toyota Tsusho Corporation, Japan
- Samtan Co., Ltd - South Korea
- Sindya Power Generating Company Private Ltd
- Pendopo Energi Batubara - Indonesia
- Sree Jayajothi Cements Limited - India
- Bharathi Cement Corporation - India
- Dalmia Cement Bharat India
- Deloitte Consulting - India
- Chamber of Mines of South Africa
- Gujarat Electricity Regulatory Commission - India
- Directorate Of Revenue Intelligence - India
- CIMB Investment Bank - Malaysia
- Georgia Ports Authority, United States
- Marubeni Corporation - India
- Australian Coal Association
- Ind-Barath Power Infra Limited - India
- Coal and Oil Company - UAE
- Binh Thuan Hamico - Vietnam
- Indian Energy Exchange, India
- Commonwealth Bank - Australia
- Savvy Resources Ltd - HongKong
- Heidelberg Cement - Germany
- Kartika Selabumi Mining - Indonesia
- Parliament of New Zealand
- Vizag Seaport Private Limited - India
- Africa Commodities Group - South Africa
- Straits Asia Resources Limited - Singapore
- Semirara Mining Corp, Philippines
- PowerSource Philippines DevCo
- Oldendorff Carriers - Singapore
- Aboitiz Power Corporation - Philippines
- Essar Steel Hazira Ltd - India
- Lanco Infratech Ltd - India
- Bhushan Steel Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Petron Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Bhoruka Overseas - Indonesia
- Meralco Power Generation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Meenaskhi Energy Private Limited - India
- Port Waratah Coal Services - Australia
- Trasteel International SA, Italy
- Tata Chemicals Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Kaltim Prima Coal - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Kumho Petrochemical, South Korea
- Global Green Power PLC Corporation, Philippines
- Mintek Dendrill Indonesia
- Siam City Cement - Thailand
- Bahari Cakrawala Sebuku - Indonesia
- Baramulti Group, Indonesia
- Mjunction Services Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- International Coal Ventures Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- Wilmar Investment Holdings
- Makarim & Taira - Indonesia
- Jindal Steel & Power Ltd - India
- Power Finance Corporation Ltd., India
- GVK Power & Infra Limited - India
- Bulk Trading Sa - Switzerland
- Eastern Energy - Thailand
- Chettinad Cement Corporation Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Altura Mining Limited, Indonesia
- Asmin Koalindo Tuhup - Indonesia
- LBH Netherlands Bv - Netherlands
- The University of Queensland
- Simpson Spence & Young - Indonesia
- Formosa Plastics Group - Taiwan
- Bukit Baiduri Energy - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Electricity Generating Authority of Thailand
- Tamil Nadu electricity Board
- Bangladesh Power Developement Board
- Cigading International Bulk Terminal - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Electricity Authority, New Zealand
- Orica Australia Pty. Ltd.
- Sojitz Corporation - Japan
- Interocean Group of Companies - India
- Minerals Council of Australia
- Therma Luzon, Inc, Philippines
- Indo Tambangraya Megah - Indonesia
- TeaM Sual Corporation - Philippines
- European Bulk Services B.V. - Netherlands
- Agrawal Coal Company - India
- Malabar Cements Ltd - India
- Thiess Contractors Indonesia
- Krishnapatnam Port Company Ltd. - India
- Ministry of Mines - Canada
- White Energy Company Limited
- Aditya Birla Group - India
- Energy Link Ltd, New Zealand
- Kideco Jaya Agung - Indonesia
- Attock Cement Pakistan Limited
- Rashtriya Ispat Nigam Limited - India
- Latin American Coal - Colombia
- Ministry of Finance - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Bayan Resources Tbk. - Indonesia
- Carbofer General Trading SA - India
- Australian Commodity Traders Exchange
- The State Trading Corporation of India Ltd
- Uttam Galva Steels Limited - India
- Star Paper Mills Limited - India
- Merrill Lynch Commodities Europe
- Standard Chartered Bank - UAE
- Neyveli Lignite Corporation Ltd, - India
- Ceylon Electricity Board - Sri Lanka
- Global Business Power Corporation, Philippines
- Ministry of Transport, Egypt
- IHS Mccloskey Coal Group - USA
- Bukit Makmur.PT - Indonesia
- Planning Commission, India
- Salva Resources Pvt Ltd - India
- OPG Power Generation Pvt Ltd - India
- Wood Mackenzie - Singapore
- Indogreen Group - Indonesia
- Antam Resourcindo - Indonesia
- Goldman Sachs - Singapore
- Barasentosa Lestari - Indonesia
- Madhucon Powers Ltd - India
- ICICI Bank Limited - India
- CNBM International Corporation - China
- South Luzon Thermal Energy Corporation
- San Jose City I Power Corp, Philippines
- Orica Mining Services - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Anglo American - United Kingdom
- Mercuria Energy - Indonesia
- Intertek Mineral Services - Indonesia
- Vedanta Resources Plc - India
- Bhatia International Limited - India
- Eastern Coal Council - USA
- Maharashtra Electricity Regulatory Commission - India
- Pipit Mutiara Jaya. PT, Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- The Treasury - Australian Government
- Grasim Industreis Ltd - India
- Energy Development Corp, Philippines
- New Zealand Coal & Carbon
- Medco Energi Mining Internasional
- Kapuas Tunggal Persada - Indonesia
- Thai Mozambique Logistica
- Maheswari Brothers Coal Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Alfred C Toepfer International GmbH - Germany
- McConnell Dowell - Australia
- Videocon Industries ltd - India
- Romanian Commodities Exchange
- Gujarat Mineral Development Corp Ltd - India
- Edison Trading Spa - Italy
- Parry Sugars Refinery, India
- Indonesian Coal Mining Association
- Siam City Cement PLC, Thailand
- Metalloyd Limited - United Kingdom
- Jorong Barutama Greston.PT - Indonesia
- Gujarat Sidhee Cement - India
- Timah Investasi Mineral - Indoneisa
- Posco Energy - South Korea
- Central Java Power - Indonesia
- PNOC Exploration Corporation - Philippines
- PTC India Limited - India
- Iligan Light & Power Inc, Philippines
- Coalindo Energy - Indonesia
- Renaissance Capital - South Africa
- Offshore Bulk Terminal Pte Ltd, Singapore
- Economic Council, Georgia
- Ambuja Cements Ltd - India
- Globalindo Alam Lestari - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Billiton Holdings Pty Ltd - Australia
- GMR Energy Limited - India
- Kobexindo Tractors - Indoneisa
- Xindia Steels Limited - India
- Riau Bara Harum - Indonesia
- Borneo Indobara - Indonesia
- Miang Besar Coal Terminal - Indonesia
- VISA Power Limited - India
- Banpu Public Company Limited - Thailand
- SMC Global Power, Philippines
- Karaikal Port Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Price Waterhouse Coopers - Russia
- MS Steel International - UAE
- SMG Consultants - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
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