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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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Thursday, 13 December 12
HANDY : WCI-CHINA RATES AROUND $ 6000 AND ECI-CHINA AROUND $ 4000 - FEARNLEYS
Handy
Atlantic market remained unchanged. Rates from USG to Feast were around USD 18k and Black Sea to Feast about USD 10k. USG-Skaw-Passero rates ...
Wednesday, 12 December 12
69.23 PERCENT OF END-USERS ARE BELIEVE, COAL PRICES ARE IN UPWARD TREND
COALspot.com - The Indonesian government’s declared coal reference price for December’ 12 has gained US cents 31 per MT M-o- ...
Wednesday, 12 December 12
CAPESIZE FREIGHT RATES TO RANGE BETWEEN $9,000 - 16,000/DAY IN THE COMING WEEKS SAYS BIMCO - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
In its regular update on the dry bulk market, BIMCO forecasted yesterday, that Capesize time-charter rates are expected to stay elevated in the foll ...
Tuesday, 11 December 12
NEWCASTLE PORT IN AUSTRALIA HAS LOADED 2,720,205 MT OF COAL W/E 10 DECEMBER 2012
COALspot.com - Newcastle port in Australia has loaded 2,720,205 MT of thermal and coking coal for week ended 0700 hours 10 December 2012, Newc ...
Sunday, 09 December 12
COAL SWAPS HAVE LOST DIRECTION DUE TO LACK OF ASIAN INTEREST
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) for average Q1’ 2013 delivery gained 2.43 percent M-M but lost WoW by 0.54 percent and 0.62 ...
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- Alfred C Toepfer International GmbH - Germany
- Sinarmas Energy and Mining - Indonesia
- Binh Thuan Hamico - Vietnam
- Vizag Seaport Private Limited - India
- Carbofer General Trading SA - India
- Parliament of New Zealand
- Global Coal Blending Company Limited - Australia
- CNBM International Corporation - China
- TeaM Sual Corporation - Philippines
- Wood Mackenzie - Singapore
- Simpson Spence & Young - Indonesia
- Georgia Ports Authority, United States
- Orica Mining Services - Indonesia
- Australian Commodity Traders Exchange
- Ind-Barath Power Infra Limited - India
- Ministry of Finance - Indonesia
- Parry Sugars Refinery, India
- LBH Netherlands Bv - Netherlands
- Thiess Contractors Indonesia
- Altura Mining Limited, Indonesia
- Coastal Gujarat Power Limited - India
- Indian Oil Corporation Limited
- San Jose City I Power Corp, Philippines
- Siam City Cement PLC, Thailand
- Directorate Of Revenue Intelligence - India
- White Energy Company Limited
- Jorong Barutama Greston.PT - Indonesia
- Tamil Nadu electricity Board
- Petrochimia International Co. Ltd.- Taiwan
- Energy Development Corp, Philippines
- Bukit Baiduri Energy - Indonesia
- Meenaskhi Energy Private Limited - India
- Thai Mozambique Logistica
- GAC Shipping (India) Pvt Ltd
- Banpu Public Company Limited - Thailand
- Timah Investasi Mineral - Indoneisa
- Mercator Lines Limited - India
- Globalindo Alam Lestari - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- OPG Power Generation Pvt Ltd - India
- Interocean Group of Companies - India
- Coal and Oil Company - UAE
- Xindia Steels Limited - India
- PowerSource Philippines DevCo
- Gujarat Electricity Regulatory Commission - India
- Electricity Generating Authority of Thailand
- Mintek Dendrill Indonesia
- The University of Queensland
- Central Java Power - Indonesia
- Siam City Cement - Thailand
- Kepco SPC Power Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Singapore Mercantile Exchange
- Heidelberg Cement - Germany
- Planning Commission, India
- Chamber of Mines of South Africa
- Wilmar Investment Holdings
- Larsen & Toubro Limited - India
- Anglo American - United Kingdom
- Pendopo Energi Batubara - Indonesia
- Mercuria Energy - Indonesia
- Economic Council, Georgia
- IHS Mccloskey Coal Group - USA
- GMR Energy Limited - India
- Straits Asia Resources Limited - Singapore
- Petron Corporation, Philippines
- Vedanta Resources Plc - India
- Indian Energy Exchange, India
- Semirara Mining and Power Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- Cigading International Bulk Terminal - Indonesia
- Indonesian Coal Mining Association
- Krishnapatnam Port Company Ltd. - India
- McConnell Dowell - Australia
- Ministry of Mines - Canada
- Global Green Power PLC Corporation, Philippines
- Samtan Co., Ltd - South Korea
- Energy Link Ltd, New Zealand
- Dalmia Cement Bharat India
- Antam Resourcindo - Indonesia
- PNOC Exploration Corporation - Philippines
- Jaiprakash Power Ventures ltd
- Independent Power Producers Association of India
- Manunggal Multi Energi - Indonesia
- Formosa Plastics Group - Taiwan
- European Bulk Services B.V. - Netherlands
- Directorate General of MIneral and Coal - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Eastern Energy - Thailand
- Cement Manufacturers Association - India
- Makarim & Taira - Indonesia
- Eastern Coal Council - USA
- Bangladesh Power Developement Board
- Kohat Cement Company Ltd. - Pakistan
- The State Trading Corporation of India Ltd
- Orica Australia Pty. Ltd.
- Kartika Selabumi Mining - Indonesia
- South Luzon Thermal Energy Corporation
- Intertek Mineral Services - Indonesia
- Aboitiz Power Corporation - Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Mjunction Services Limited - India
- Coalindo Energy - Indonesia
- Baramulti Group, Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Trasteel International SA, Italy
- Gujarat Sidhee Cement - India
- India Bulls Power Limited - India
- Africa Commodities Group - South Africa
- Billiton Holdings Pty Ltd - Australia
- Riau Bara Harum - Indonesia
- Posco Energy - South Korea
- Standard Chartered Bank - UAE
- Bukit Makmur.PT - Indonesia
- GVK Power & Infra Limited - India
- Indo Tambangraya Megah - Indonesia
- VISA Power Limited - India
- Bhushan Steel Limited - India
- Renaissance Capital - South Africa
- Oldendorff Carriers - Singapore
- Medco Energi Mining Internasional
- Vijayanagar Sugar Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Attock Cement Pakistan Limited
- Sical Logistics Limited - India
- Karaikal Port Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Asmin Koalindo Tuhup - Indonesia
- Uttam Galva Steels Limited - India
- Leighton Contractors Pty Ltd - Australia
- Power Finance Corporation Ltd., India
- SMC Global Power, Philippines
- SMG Consultants - Indonesia
- Kaltim Prima Coal - Indonesia
- New Zealand Coal & Carbon
- Minerals Council of Australia
- Sakthi Sugars Limited - India
- Borneo Indobara - Indonesia
- Price Waterhouse Coopers - Russia
- Bhoruka Overseas - Indonesia
- Grasim Industreis Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Salva Resources Pvt Ltd - India
- Marubeni Corporation - India
- London Commodity Brokers - England
- Kideco Jaya Agung - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Madhucon Powers Ltd - India
- Chettinad Cement Corporation Ltd - India
- Sindya Power Generating Company Private Ltd
- IEA Clean Coal Centre - UK
- Metalloyd Limited - United Kingdom
- Bank of Tokyo Mitsubishi UFJ Ltd
- Tata Chemicals Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Essar Steel Hazira Ltd - India
- Malabar Cements Ltd - India
- Sarangani Energy Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Therma Luzon, Inc, Philippines
- CIMB Investment Bank - Malaysia
- Iligan Light & Power Inc, Philippines
- Savvy Resources Ltd - HongKong
- Kobexindo Tractors - Indoneisa
- Bayan Resources Tbk. - Indonesia
- Port Waratah Coal Services - Australia
- SN Aboitiz Power Inc, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Indika Energy - Indonesia
- Jindal Steel & Power Ltd - India
- Ministry of Transport, Egypt
- Kalimantan Lumbung Energi - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Latin American Coal - Colombia
- MS Steel International - UAE
- Semirara Mining Corp, Philippines
- Kumho Petrochemical, South Korea
- Lanco Infratech Ltd - India
- Romanian Commodities Exchange
- Maheswari Brothers Coal Limited - India
- Electricity Authority, New Zealand
- Karbindo Abesyapradhi - Indoneisa
- The Treasury - Australian Government
- ICICI Bank Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Australian Coal Association
- Ambuja Cements Ltd - India
- Barasentosa Lestari - Indonesia
- Commonwealth Bank - Australia
- Rio Tinto Coal - Australia
- PTC India Limited - India
- Agrawal Coal Company - India
- Meralco Power Generation, Philippines
- Sojitz Corporation - Japan
- Aditya Birla Group - India
- Global Business Power Corporation, Philippines
- Edison Trading Spa - Italy
- Bhatia International Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Central Electricity Authority - India
- Indogreen Group - Indonesia
- Bulk Trading Sa - Switzerland
- Ceylon Electricity Board - Sri Lanka
- ASAPP Information Group - India
- Videocon Industries ltd - India
- Goldman Sachs - Singapore
- Bharathi Cement Corporation - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Deloitte Consulting - India
- Miang Besar Coal Terminal - Indonesia
- International Coal Ventures Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Toyota Tsusho Corporation, Japan
- Star Paper Mills Limited - India
- Merrill Lynch Commodities Europe
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