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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, 04 December 12
JATENERGY SIGNS MOU FOR INDONESIAN COAL ASSET
COALspot.com - Jatenergy Limited has announced that its fully-owned Indonesian subsidiary, PT Barata Energy (BE), has signed an exclusive, non-bindi ...
Tuesday, 04 December 12
NEWCASTLE PORT SHIPPED 55.88 PERCENT MORE COAL W/E 3 DECEMBER 2012
COALspot.com - Newcastle port in Australia has loaded 2,796,341 MT of thermal and coking coal for week ended 0700 hours 3 December 2012, Newca ...
Sunday, 02 December 12
YEAR 2013, YEAR OF SUPPLY OR DEMAND?
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) for average Q1 2013 delivery gained 2.87 & 0.83 percent MoM and WoW respectively ...
Saturday, 01 December 12
TIGHT SUPPLY, DEMAND PUSH INDO-INDIA SUPRAMAX FREIGHT RATES HIGHER - VISTAAR
COALspot.com - The freight market was mixed this week as cape and Panamax indices are closing softer.
The BDI was down 0.37 pct closing at 1,086 ...
Friday, 30 November 12
FUTURE TREND OF SECOND HAND SHIP VALUES PUZZLING SHIP OWNERS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
One of the major challenges that ship owners are facing today is whether or not to invest in a second hand vessel at any given time. For instance, i ...
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- Heidelberg Cement - Germany
- Energy Development Corp, Philippines
- San Jose City I Power Corp, Philippines
- Renaissance Capital - South Africa
- Asmin Koalindo Tuhup - Indonesia
- Karaikal Port Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Merrill Lynch Commodities Europe
- Bank of Tokyo Mitsubishi UFJ Ltd
- Edison Trading Spa - Italy
- Toyota Tsusho Corporation, Japan
- SMC Global Power, Philippines
- Port Waratah Coal Services - Australia
- Ambuja Cements Ltd - India
- Indian Oil Corporation Limited
- VISA Power Limited - India
- Gujarat Sidhee Cement - India
- Ministry of Mines - Canada
- Bulk Trading Sa - Switzerland
- Bukit Asam (Persero) Tbk - Indonesia
- CNBM International Corporation - China
- Chettinad Cement Corporation Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Orica Mining Services - Indonesia
- ICICI Bank Limited - India
- Rashtriya Ispat Nigam Limited - India
- Global Green Power PLC Corporation, Philippines
- Intertek Mineral Services - Indonesia
- McConnell Dowell - Australia
- Semirara Mining and Power Corporation, Philippines
- Riau Bara Harum - Indonesia
- Kartika Selabumi Mining - Indonesia
- Medco Energi Mining Internasional
- Pendopo Energi Batubara - Indonesia
- Star Paper Mills Limited - India
- Wilmar Investment Holdings
- Attock Cement Pakistan Limited
- Economic Council, Georgia
- Goldman Sachs - Singapore
- Alfred C Toepfer International GmbH - Germany
- The Treasury - Australian Government
- Gujarat Mineral Development Corp Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Kepco SPC Power Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- Krishnapatnam Port Company Ltd. - India
- Mercator Lines Limited - India
- Samtan Co., Ltd - South Korea
- Thiess Contractors Indonesia
- Aditya Birla Group - India
- Timah Investasi Mineral - Indoneisa
- Ind-Barath Power Infra Limited - India
- Trasteel International SA, Italy
- Siam City Cement - Thailand
- Baramulti Group, Indonesia
- Oldendorff Carriers - Singapore
- Mintek Dendrill Indonesia
- Billiton Holdings Pty Ltd - Australia
- Thai Mozambique Logistica
- PNOC Exploration Corporation - Philippines
- Directorate General of MIneral and Coal - Indonesia
- The State Trading Corporation of India Ltd
- Ministry of Transport, Egypt
- Standard Chartered Bank - UAE
- IEA Clean Coal Centre - UK
- MS Steel International - UAE
- Videocon Industries ltd - India
- GVK Power & Infra Limited - India
- PTC India Limited - India
- Tamil Nadu electricity Board
- ASAPP Information Group - India
- Sakthi Sugars Limited - India
- Kumho Petrochemical, South Korea
- Wood Mackenzie - Singapore
- Anglo American - United Kingdom
- Latin American Coal - Colombia
- Bangladesh Power Developement Board
- Indo Tambangraya Megah - Indonesia
- Cement Manufacturers Association - India
- Eastern Energy - Thailand
- The University of Queensland
- Mjunction Services Limited - India
- New Zealand Coal & Carbon
- Bayan Resources Tbk. - Indonesia
- Makarim & Taira - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Central Java Power - Indonesia
- Banpu Public Company Limited - Thailand
- Vijayanagar Sugar Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- TeaM Sual Corporation - Philippines
- Orica Australia Pty. Ltd.
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Directorate Of Revenue Intelligence - India
- Sarangani Energy Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Sojitz Corporation - Japan
- Electricity Generating Authority of Thailand
- Petrochimia International Co. Ltd.- Taiwan
- Energy Link Ltd, New Zealand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Dalmia Cement Bharat India
- IHS Mccloskey Coal Group - USA
- Antam Resourcindo - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- European Bulk Services B.V. - Netherlands
- TNB Fuel Sdn Bhd - Malaysia
- Gujarat Electricity Regulatory Commission - India
- Vedanta Resources Plc - India
- Therma Luzon, Inc, Philippines
- Indogreen Group - Indonesia
- Bhatia International Limited - India
- Jaiprakash Power Ventures ltd
- Bharathi Cement Corporation - India
- SN Aboitiz Power Inc, Philippines
- Bukit Makmur.PT - Indonesia
- Madhucon Powers Ltd - India
- Barasentosa Lestari - Indonesia
- Deloitte Consulting - India
- Planning Commission, India
- Price Waterhouse Coopers - Russia
- Kapuas Tunggal Persada - Indonesia
- Marubeni Corporation - India
- London Commodity Brokers - England
- Singapore Mercantile Exchange
- Vizag Seaport Private Limited - India
- Tata Chemicals Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Mercuria Energy - Indonesia
- Petron Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- Coalindo Energy - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Globalindo Alam Lestari - Indonesia
- Global Business Power Corporation, Philippines
- Semirara Mining Corp, Philippines
- Eastern Coal Council - USA
- Siam City Cement PLC, Thailand
- Independent Power Producers Association of India
- Essar Steel Hazira Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Australian Coal Association
- Jindal Steel & Power Ltd - India
- Interocean Group of Companies - India
- Agrawal Coal Company - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- OPG Power Generation Pvt Ltd - India
- Rio Tinto Coal - Australia
- Posco Energy - South Korea
- CIMB Investment Bank - Malaysia
- Africa Commodities Group - South Africa
- Iligan Light & Power Inc, Philippines
- Karbindo Abesyapradhi - Indoneisa
- GMR Energy Limited - India
- Uttam Galva Steels Limited - India
- Sree Jayajothi Cements Limited - India
- Central Electricity Authority - India
- Pipit Mutiara Jaya. PT, Indonesia
- PowerSource Philippines DevCo
- White Energy Company Limited
- Coal and Oil Company - UAE
- Kideco Jaya Agung - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Holcim Trading Pte Ltd - Singapore
- Maheswari Brothers Coal Limited - India
- Malabar Cements Ltd - India
- Simpson Spence & Young - Indonesia
- Indika Energy - Indonesia
- Meralco Power Generation, Philippines
- Larsen & Toubro Limited - India
- Australian Commodity Traders Exchange
- Indian Energy Exchange, India
- Indonesian Coal Mining Association
- Savvy Resources Ltd - HongKong
- Kobexindo Tractors - Indoneisa
- Electricity Authority, New Zealand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Formosa Plastics Group - Taiwan
- Lanco Infratech Ltd - India
- GAC Shipping (India) Pvt Ltd
- India Bulls Power Limited - India
- Romanian Commodities Exchange
- Georgia Ports Authority, United States
- Commonwealth Bank - Australia
- Kaltim Prima Coal - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Minerals Council of Australia
- Parry Sugars Refinery, India
- Carbofer General Trading SA - India
- Chamber of Mines of South Africa
- Power Finance Corporation Ltd., India
- South Luzon Thermal Energy Corporation
- Borneo Indobara - Indonesia
- Bhoruka Overseas - Indonesia
- Sical Logistics Limited - India
- Xindia Steels Limited - India
- Bukit Baiduri Energy - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Altura Mining Limited, Indonesia
- Bhushan Steel Limited - India
- Binh Thuan Hamico - Vietnam
- SMG Consultants - Indonesia
- Manunggal Multi Energi - Indonesia
- Salva Resources Pvt Ltd - India
- Grasim Industreis Ltd - India
- Straits Asia Resources Limited - Singapore
- Parliament of New Zealand
- Metalloyd Limited - United Kingdom
- Ministry of Finance - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Global Coal Blending Company Limited - Australia
- International Coal Ventures Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Aboitiz Power Corporation - Philippines
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