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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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Sunday, 09 December 12
LOW DEMAND PUSHES CHARTER RATES TOWARDS DOWN - VISTAAR
COALspot.com - The freight market has softened and BDI, The Baltic Dry Index, a measure of shipping costs for dry bulk goods, plunged below 10 ...
Friday, 07 December 12
A NEW PHASE FOR AUSTRALIAN RESOURCES - A FITCH STREET INTERVIEW
This week Matt Jamieson spoke with Andrew Colquhoun in Fitch's Asian sovereign rating team, and Vicky Melbourne, Fitch's commodity analyst based i ...
Friday, 07 December 12
SHIPPING INDUSTRY LOOKING ON YET ANOTHER TOUGH YEAR AS WE APPROACH 2013 - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
With shipping finance "on the ropes" as traditional lenders appear to be cutting their losses and tonnage oversupply still the most import ...
Thursday, 06 December 12
PANAMAX : THE POSITIVE VIBES IN THE ATLANTIC REMAINS - FEARNLEYS AS
Handy
The Atlantic market is still depressed with dearth of cargoes and more ships. The trips from Continent to Feast fixed around USD 12k. Trips f ...
Thursday, 06 December 12
STRONG CHINESE DEMAND FOR DRY BULK COMMODITIES EXPECTED FOR 2013 - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
A new analysis from BIMCO released yesterday suggests that 2013 is expected to be a stronger year in terms of China's "hunger" for commod ...
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- Coalindo Energy - Indonesia
- Latin American Coal - Colombia
- AsiaOL BioFuels Corp., Philippines
- Posco Energy - South Korea
- Aboitiz Power Corporation - Philippines
- Kobexindo Tractors - Indoneisa
- Cement Manufacturers Association - India
- Indo Tambangraya Megah - Indonesia
- Altura Mining Limited, Indonesia
- The University of Queensland
- Sojitz Corporation - Japan
- Kohat Cement Company Ltd. - Pakistan
- Global Coal Blending Company Limited - Australia
- Kepco SPC Power Corporation, Philippines
- Goldman Sachs - Singapore
- European Bulk Services B.V. - Netherlands
- Kideco Jaya Agung - Indonesia
- Renaissance Capital - South Africa
- Commonwealth Bank - Australia
- Ambuja Cements Ltd - India
- Semirara Mining Corp, Philippines
- Bhoruka Overseas - Indonesia
- IHS Mccloskey Coal Group - USA
- Global Green Power PLC Corporation, Philippines
- Banpu Public Company Limited - Thailand
- Ministry of Finance - Indonesia
- Iligan Light & Power Inc, Philippines
- SMG Consultants - Indonesia
- Binh Thuan Hamico - Vietnam
- Maharashtra Electricity Regulatory Commission - India
- Sree Jayajothi Cements Limited - India
- Bharathi Cement Corporation - India
- Bukit Asam (Persero) Tbk - Indonesia
- White Energy Company Limited
- Kapuas Tunggal Persada - Indonesia
- Riau Bara Harum - Indonesia
- CIMB Investment Bank - Malaysia
- Tata Chemicals Ltd - India
- Salva Resources Pvt Ltd - India
- Madhucon Powers Ltd - India
- Maheswari Brothers Coal Limited - India
- Vizag Seaport Private Limited - India
- OPG Power Generation Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- McConnell Dowell - Australia
- Carbofer General Trading SA - India
- Agrawal Coal Company - India
- Cigading International Bulk Terminal - Indonesia
- Makarim & Taira - Indonesia
- Edison Trading Spa - Italy
- Medco Energi Mining Internasional
- The Treasury - Australian Government
- PetroVietnam Power Coal Import and Supply Company
- Meenaskhi Energy Private Limited - India
- Orica Australia Pty. Ltd.
- International Coal Ventures Pvt Ltd - India
- Aditya Birla Group - India
- Karbindo Abesyapradhi - Indoneisa
- Larsen & Toubro Limited - India
- Mercuria Energy - Indonesia
- Sakthi Sugars Limited - India
- Siam City Cement - Thailand
- Tamil Nadu electricity Board
- South Luzon Thermal Energy Corporation
- Australian Coal Association
- Jaiprakash Power Ventures ltd
- Central Java Power - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Pendopo Energi Batubara - Indonesia
- Coal and Oil Company - UAE
- TNB Fuel Sdn Bhd - Malaysia
- Star Paper Mills Limited - India
- Mintek Dendrill Indonesia
- Economic Council, Georgia
- Ceylon Electricity Board - Sri Lanka
- Mjunction Services Limited - India
- Kartika Selabumi Mining - Indonesia
- Dalmia Cement Bharat India
- Grasim Industreis Ltd - India
- Port Waratah Coal Services - Australia
- Meralco Power Generation, Philippines
- CNBM International Corporation - China
- Georgia Ports Authority, United States
- Kumho Petrochemical, South Korea
- Power Finance Corporation Ltd., India
- Petron Corporation, Philippines
- Ministry of Mines - Canada
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Semirara Mining and Power Corporation, Philippines
- Indogreen Group - Indonesia
- GVK Power & Infra Limited - India
- Toyota Tsusho Corporation, Japan
- Gujarat Electricity Regulatory Commission - India
- Coastal Gujarat Power Limited - India
- ICICI Bank Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Interocean Group of Companies - India
- Sical Logistics Limited - India
- Attock Cement Pakistan Limited
- Australian Commodity Traders Exchange
- ASAPP Information Group - India
- Marubeni Corporation - India
- India Bulls Power Limited - India
- Energy Development Corp, Philippines
- Indonesian Coal Mining Association
- VISA Power Limited - India
- Electricity Authority, New Zealand
- Savvy Resources Ltd - HongKong
- Simpson Spence & Young - Indonesia
- SMC Global Power, Philippines
- IEA Clean Coal Centre - UK
- Malabar Cements Ltd - India
- Thai Mozambique Logistica
- GMR Energy Limited - India
- Miang Besar Coal Terminal - Indonesia
- Siam City Cement PLC, Thailand
- Metalloyd Limited - United Kingdom
- Sinarmas Energy and Mining - Indonesia
- Chamber of Mines of South Africa
- Global Business Power Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Heidelberg Cement - Germany
- Parliament of New Zealand
- Ind-Barath Power Infra Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Central Electricity Authority - India
- Planning Commission, India
- New Zealand Coal & Carbon
- London Commodity Brokers - England
- Bank of Tokyo Mitsubishi UFJ Ltd
- Rio Tinto Coal - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Bayan Resources Tbk. - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Samtan Co., Ltd - South Korea
- Indian Energy Exchange, India
- Directorate General of MIneral and Coal - Indonesia
- Kaltim Prima Coal - Indonesia
- Chettinad Cement Corporation Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Baramulti Group, Indonesia
- Antam Resourcindo - Indonesia
- Directorate Of Revenue Intelligence - India
- Bangladesh Power Developement Board
- Indika Energy - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bulk Trading Sa - Switzerland
- Bukit Makmur.PT - Indonesia
- PNOC Exploration Corporation - Philippines
- SN Aboitiz Power Inc, Philippines
- Minerals Council of Australia
- Bhushan Steel Limited - India
- LBH Netherlands Bv - Netherlands
- Sindya Power Generating Company Private Ltd
- Vedanta Resources Plc - India
- Eastern Energy - Thailand
- MS Steel International - UAE
- Petrochimia International Co. Ltd.- Taiwan
- Videocon Industries ltd - India
- Alfred C Toepfer International GmbH - Germany
- Neyveli Lignite Corporation Ltd, - India
- Electricity Generating Authority of Thailand
- Manunggal Multi Energi - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Globalindo Alam Lestari - Indonesia
- The State Trading Corporation of India Ltd
- Orica Mining Services - Indonesia
- Wood Mackenzie - Singapore
- Barasentosa Lestari - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Mercator Lines Limited - India
- Eastern Coal Council - USA
- PowerSource Philippines DevCo
- Price Waterhouse Coopers - Russia
- Formosa Plastics Group - Taiwan
- Gujarat Sidhee Cement - India
- Lanco Infratech Ltd - India
- Jindal Steel & Power Ltd - India
- Xindia Steels Limited - India
- Merrill Lynch Commodities Europe
- Thiess Contractors Indonesia
- Energy Link Ltd, New Zealand
- Wilmar Investment Holdings
- Therma Luzon, Inc, Philippines
- Straits Asia Resources Limited - Singapore
- Billiton Holdings Pty Ltd - Australia
- GAC Shipping (India) Pvt Ltd
- Singapore Mercantile Exchange
- Independent Power Producers Association of India
- Standard Chartered Bank - UAE
- Bahari Cakrawala Sebuku - Indonesia
- Bhatia International Limited - India
- Anglo American - United Kingdom
- Oldendorff Carriers - Singapore
- Rashtriya Ispat Nigam Limited - India
- Trasteel International SA, Italy
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Uttam Galva Steels Limited - India
- Intertek Mineral Services - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ministry of Transport, Egypt
- Karaikal Port Pvt Ltd - India
- Deloitte Consulting - India
- Indian Oil Corporation Limited
- San Jose City I Power Corp, Philippines
- Romanian Commodities Exchange
- PTC India Limited - India
- Borneo Indobara - Indonesia
- Essar Steel Hazira Ltd - India
- TeaM Sual Corporation - Philippines
- Timah Investasi Mineral - Indoneisa
- Holcim Trading Pte Ltd - Singapore
- Africa Commodities Group - South Africa
- Parry Sugars Refinery, India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bukit Baiduri Energy - Indonesia
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