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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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Tuesday, 18 December 12
NEWCASTLE PORT IN AUSTRALIA SHIPPED 20.19 PERCENT MORE COAL W/E 17 DECEMBER 2012
COALspot.com - Newcastle port in Australia has loaded 3,269,640 MT of thermal and coking coal for week ended 0700 hours 17 December 2012, Newc ...
Monday, 17 December 12
SHIP PRICES TO BOTTOM OUT IN 2013 SAYS GEORGE D. GOURDOMICHALIS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Ship values especially in older tonnage, or even modern vessels with poor quality are expected to fall further during 2013, with the market as a who ...
Monday, 17 December 12
SYNERGISING WITH PIONEERS TO DEVELOP TOMORROW'S LATIN AMERICAN RAILWAYS
Press Release: Brazil being one of the largest country in South America has one of the most dynamic rail markets in the world. Rail transport in Bra ...
Sunday, 16 December 12
FREIGHT TREND SOFTENED THIS WEEK - VISTAAR
COALspot.com - The freight market further softened this week and closed at 784 points (down by 18.84 pct). The cape index had the biggest fall ...
Friday, 14 December 12
GMR GROUP OF INDIA TO IMPORT 100K MT OF 4800 GAR COAL
COALspot.com: GMR Group of India to invite bids for 100,000 Metric Tons of imported non coking coal to be delivered during January and February 2013 ...
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- Aditya Birla Group - India
- Economic Council, Georgia
- Carbofer General Trading SA - India
- Antam Resourcindo - Indonesia
- Savvy Resources Ltd - HongKong
- London Commodity Brokers - England
- Bukit Baiduri Energy - Indonesia
- Manunggal Multi Energi - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Bhatia International Limited - India
- Neyveli Lignite Corporation Ltd, - India
- LBH Netherlands Bv - Netherlands
- Formosa Plastics Group - Taiwan
- Toyota Tsusho Corporation, Japan
- Global Coal Blending Company Limited - Australia
- Heidelberg Cement - Germany
- Central Java Power - Indonesia
- GMR Energy Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Anglo American - United Kingdom
- Sical Logistics Limited - India
- Baramulti Group, Indonesia
- Coalindo Energy - Indonesia
- Maheswari Brothers Coal Limited - India
- Standard Chartered Bank - UAE
- Coastal Gujarat Power Limited - India
- Jindal Steel & Power Ltd - India
- European Bulk Services B.V. - Netherlands
- Kalimantan Lumbung Energi - Indonesia
- Renaissance Capital - South Africa
- India Bulls Power Limited - India
- IEA Clean Coal Centre - UK
- Samtan Co., Ltd - South Korea
- Electricity Authority, New Zealand
- Gujarat Electricity Regulatory Commission - India
- Attock Cement Pakistan Limited
- Wood Mackenzie - Singapore
- Karaikal Port Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- Coal and Oil Company - UAE
- Mercuria Energy - Indonesia
- Edison Trading Spa - Italy
- Gujarat Sidhee Cement - India
- Simpson Spence & Young - Indonesia
- Tata Chemicals Ltd - India
- Sakthi Sugars Limited - India
- Bhushan Steel Limited - India
- Kaltim Prima Coal - Indonesia
- Sree Jayajothi Cements Limited - India
- Intertek Mineral Services - Indonesia
- San Jose City I Power Corp, Philippines
- Eastern Coal Council - USA
- Deloitte Consulting - India
- Singapore Mercantile Exchange
- Grasim Industreis Ltd - India
- Bhoruka Overseas - Indonesia
- Trasteel International SA, Italy
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Mintek Dendrill Indonesia
- SN Aboitiz Power Inc, Philippines
- Kumho Petrochemical, South Korea
- Therma Luzon, Inc, Philippines
- Global Green Power PLC Corporation, Philippines
- Sojitz Corporation - Japan
- Bharathi Cement Corporation - India
- Tamil Nadu electricity Board
- Semirara Mining and Power Corporation, Philippines
- Malabar Cements Ltd - India
- Parry Sugars Refinery, India
- Makarim & Taira - Indonesia
- PNOC Exploration Corporation - Philippines
- Indian Oil Corporation Limited
- Videocon Industries ltd - India
- Ministry of Mines - Canada
- Posco Energy - South Korea
- Australian Commodity Traders Exchange
- Xindia Steels Limited - India
- Energy Development Corp, Philippines
- Miang Besar Coal Terminal - Indonesia
- Eastern Energy - Thailand
- Medco Energi Mining Internasional
- Independent Power Producers Association of India
- ICICI Bank Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- Kideco Jaya Agung - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- Cigading International Bulk Terminal - Indonesia
- Salva Resources Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Port Waratah Coal Services - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Agrawal Coal Company - India
- Petron Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- Bukit Makmur.PT - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Ambuja Cements Ltd - India
- ASAPP Information Group - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Karbindo Abesyapradhi - Indoneisa
- International Coal Ventures Pvt Ltd - India
- PTC India Limited - India
- Sinarmas Energy and Mining - Indonesia
- Goldman Sachs - Singapore
- GVK Power & Infra Limited - India
- New Zealand Coal & Carbon
- Bukit Asam (Persero) Tbk - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Jorong Barutama Greston.PT - Indonesia
- The University of Queensland
- The Treasury - Australian Government
- Madhucon Powers Ltd - India
- AsiaOL BioFuels Corp., Philippines
- The State Trading Corporation of India Ltd
- PetroVietnam Power Coal Import and Supply Company
- Australian Coal Association
- Aboitiz Power Corporation - Philippines
- Marubeni Corporation - India
- Indonesian Coal Mining Association
- Oldendorff Carriers - Singapore
- Altura Mining Limited, Indonesia
- Energy Link Ltd, New Zealand
- Indo Tambangraya Megah - Indonesia
- VISA Power Limited - India
- Meenaskhi Energy Private Limited - India
- Rashtriya Ispat Nigam Limited - India
- Star Paper Mills Limited - India
- Power Finance Corporation Ltd., India
- Bayan Resources Tbk. - Indonesia
- Siam City Cement PLC, Thailand
- Kohat Cement Company Ltd. - Pakistan
- Orica Mining Services - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Kepco SPC Power Corporation, Philippines
- Bulk Trading Sa - Switzerland
- White Energy Company Limited
- Parliament of New Zealand
- Billiton Holdings Pty Ltd - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- TeaM Sual Corporation - Philippines
- Borneo Indobara - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Ind-Barath Power Infra Limited - India
- Straits Asia Resources Limited - Singapore
- Mercator Lines Limited - India
- Planning Commission, India
- Thiess Contractors Indonesia
- Krishnapatnam Port Company Ltd. - India
- Metalloyd Limited - United Kingdom
- Sarangani Energy Corporation, Philippines
- Indogreen Group - Indonesia
- Global Business Power Corporation, Philippines
- Barasentosa Lestari - Indonesia
- Vizag Seaport Private Limited - India
- Larsen & Toubro Limited - India
- OPG Power Generation Pvt Ltd - India
- Siam City Cement - Thailand
- Interocean Group of Companies - India
- Essar Steel Hazira Ltd - India
- Vedanta Resources Plc - India
- Rio Tinto Coal - Australia
- Indian Energy Exchange, India
- Kapuas Tunggal Persada - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- McConnell Dowell - Australia
- Ceylon Electricity Board - Sri Lanka
- MS Steel International - UAE
- Thai Mozambique Logistica
- Jaiprakash Power Ventures ltd
- SMG Consultants - Indonesia
- Uttam Galva Steels Limited - India
- Mjunction Services Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Dalmia Cement Bharat India
- Semirara Mining Corp, Philippines
- SMC Global Power, Philippines
- Timah Investasi Mineral - Indoneisa
- Riau Bara Harum - Indonesia
- South Luzon Thermal Energy Corporation
- Pipit Mutiara Jaya. PT, Indonesia
- Alfred C Toepfer International GmbH - Germany
- Kobexindo Tractors - Indoneisa
- PowerSource Philippines DevCo
- Minerals Council of Australia
- Kartika Selabumi Mining - Indonesia
- Wilmar Investment Holdings
- Ministry of Transport, Egypt
- Meralco Power Generation, Philippines
- Lanco Infratech Ltd - India
- Globalindo Alam Lestari - Indonesia
- Pendopo Energi Batubara - Indonesia
- CIMB Investment Bank - Malaysia
- Ministry of Finance - Indonesia
- Directorate Of Revenue Intelligence - India
- Bangladesh Power Developement Board
- Romanian Commodities Exchange
- Africa Commodities Group - South Africa
- CNBM International Corporation - China
- Latin American Coal - Colombia
- Iligan Light & Power Inc, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Electricity Generating Authority of Thailand
- Georgia Ports Authority, United States
- Indika Energy - Indonesia
- GAC Shipping (India) Pvt Ltd
- Central Electricity Authority - India
- TNB Fuel Sdn Bhd - Malaysia
- Commonwealth Bank - Australia
- Orica Australia Pty. Ltd.
- Chamber of Mines of South Africa
- Sindya Power Generating Company Private Ltd
- Merrill Lynch Commodities Europe
- Banpu Public Company Limited - Thailand
- Cement Manufacturers Association - India
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