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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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Friday, 30 November 12
IS INDONESIAN COAL INDUSTRY DEPENDS HEAVILY ON INDIA AND CHINA?
COALspot.com: Indonesia, the world largest multi grade coal exporter, shipped 35,143,587* tons of coal in October 2012. October exports are 19 ...
Thursday, 29 November 12
BUMI TO PRODUCE 100 MILLION TONS OF COAL BY 2014
COALspot.com - Expansions on both BUMI’ s subsidiaries, PT Kaltim Prima Coal (KPC) and PT Arutmin Indonesia ( Arutmin) , are ...
Thursday, 29 November 12
PANAMAX : A FAIRLY STEADY MARKET WITH USD 8.5-9K/DAY FOR 2 LADEN LEGS IN ATLANTIC - FEARNLEYS
Handy
The Atlantic market continues to remain quiet due to more supply of ships. Rates from USG to Far East were around USD 18k and Black Sea to Fa ...
Thursday, 29 November 12
DRY BULK MARKET SLIGHTLY HIGHER DESPITE LULL ACTIVITY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The dry bulk market was marginally higher yesterday, according to the industry's benchmark, the Baltic Dry Index (BDI), which rose by 7 points to 1 ...
Wednesday, 28 November 12
NEWBUILDING ORDERING PICKS UP AS SHIP OWNERS LOOK TO CLOSE DEALS BEFORE THE END OF THE YEAR - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Ship owners are active once again in the newbuilding ordering market, as they look to clinch deals ahead of the end of the year. Once again their fo ...
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- Krishnapatnam Port Company Ltd. - India
- Lanco Infratech Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- SMC Global Power, Philippines
- Mercuria Energy - Indonesia
- Anglo American - United Kingdom
- Electricity Generating Authority of Thailand
- Orica Mining Services - Indonesia
- Ambuja Cements Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Price Waterhouse Coopers - Russia
- Semirara Mining Corp, Philippines
- LBH Netherlands Bv - Netherlands
- Wilmar Investment Holdings
- The University of Queensland
- Agrawal Coal Company - India
- Global Coal Blending Company Limited - Australia
- Riau Bara Harum - Indonesia
- Mercator Lines Limited - India
- Africa Commodities Group - South Africa
- Straits Asia Resources Limited - Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- IHS Mccloskey Coal Group - USA
- Georgia Ports Authority, United States
- Sical Logistics Limited - India
- Therma Luzon, Inc, Philippines
- London Commodity Brokers - England
- Thiess Contractors Indonesia
- Sinarmas Energy and Mining - Indonesia
- Aditya Birla Group - India
- Coalindo Energy - Indonesia
- Bayan Resources Tbk. - Indonesia
- Coal and Oil Company - UAE
- Binh Thuan Hamico - Vietnam
- Renaissance Capital - South Africa
- Medco Energi Mining Internasional
- Bukit Baiduri Energy - Indonesia
- Singapore Mercantile Exchange
- Sojitz Corporation - Japan
- TNB Fuel Sdn Bhd - Malaysia
- Larsen & Toubro Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Kapuas Tunggal Persada - Indonesia
- Indian Oil Corporation Limited
- Trasteel International SA, Italy
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Standard Chartered Bank - UAE
- Uttam Galva Steels Limited - India
- Mjunction Services Limited - India
- Holcim Trading Pte Ltd - Singapore
- Madhucon Powers Ltd - India
- PNOC Exploration Corporation - Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Electricity Authority, New Zealand
- Manunggal Multi Energi - Indonesia
- Iligan Light & Power Inc, Philippines
- Metalloyd Limited - United Kingdom
- Sakthi Sugars Limited - India
- Globalindo Alam Lestari - Indonesia
- Siam City Cement PLC, Thailand
- CNBM International Corporation - China
- Bhoruka Overseas - Indonesia
- Karaikal Port Pvt Ltd - India
- Mintek Dendrill Indonesia
- Planning Commission, India
- Gujarat Electricity Regulatory Commission - India
- Timah Investasi Mineral - Indoneisa
- Chamber of Mines of South Africa
- Global Green Power PLC Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- Videocon Industries ltd - India
- Maheswari Brothers Coal Limited - India
- GMR Energy Limited - India
- Economic Council, Georgia
- Heidelberg Cement - Germany
- Indika Energy - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Barasentosa Lestari - Indonesia
- Ind-Barath Power Infra Limited - India
- Vedanta Resources Plc - India
- Bukit Asam (Persero) Tbk - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Toyota Tsusho Corporation, Japan
- Power Finance Corporation Ltd., India
- Kumho Petrochemical, South Korea
- Australian Coal Association
- Bhushan Steel Limited - India
- Goldman Sachs - Singapore
- Offshore Bulk Terminal Pte Ltd, Singapore
- White Energy Company Limited
- South Luzon Thermal Energy Corporation
- Malabar Cements Ltd - India
- Makarim & Taira - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Edison Trading Spa - Italy
- Indo Tambangraya Megah - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Miang Besar Coal Terminal - Indonesia
- VISA Power Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Tamil Nadu electricity Board
- Petrochimia International Co. Ltd.- Taiwan
- Cement Manufacturers Association - India
- Star Paper Mills Limited - India
- Altura Mining Limited, Indonesia
- Parry Sugars Refinery, India
- Coastal Gujarat Power Limited - India
- Kideco Jaya Agung - Indonesia
- Romanian Commodities Exchange
- Indogreen Group - Indonesia
- Independent Power Producers Association of India
- Central Java Power - Indonesia
- SMG Consultants - Indonesia
- Simpson Spence & Young - Indonesia
- McConnell Dowell - Australia
- OPG Power Generation Pvt Ltd - India
- Indian Energy Exchange, India
- GAC Shipping (India) Pvt Ltd
- Indonesian Coal Mining Association
- Kohat Cement Company Ltd. - Pakistan
- Commonwealth Bank - Australia
- PowerSource Philippines DevCo
- TeaM Sual Corporation - Philippines
- Sindya Power Generating Company Private Ltd
- Bukit Makmur.PT - Indonesia
- Ministry of Transport, Egypt
- CIMB Investment Bank - Malaysia
- Savvy Resources Ltd - HongKong
- India Bulls Power Limited - India
- Leighton Contractors Pty Ltd - Australia
- Directorate General of MIneral and Coal - Indonesia
- Bulk Trading Sa - Switzerland
- Eastern Coal Council - USA
- Chettinad Cement Corporation Ltd - India
- Grasim Industreis Ltd - India
- AsiaOL BioFuels Corp., Philippines
- MS Steel International - UAE
- Maharashtra Electricity Regulatory Commission - India
- Vizag Seaport Private Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Tata Chemicals Ltd - India
- Bhatia International Limited - India
- Siam City Cement - Thailand
- Pendopo Energi Batubara - Indonesia
- Eastern Energy - Thailand
- Kartika Selabumi Mining - Indonesia
- Merrill Lynch Commodities Europe
- Orica Australia Pty. Ltd.
- Borneo Indobara - Indonesia
- ASAPP Information Group - India
- Jindal Steel & Power Ltd - India
- Kepco SPC Power Corporation, Philippines
- Bharathi Cement Corporation - India
- New Zealand Coal & Carbon
- GVK Power & Infra Limited - India
- Meralco Power Generation, Philippines
- Kobexindo Tractors - Indoneisa
- Australian Commodity Traders Exchange
- Billiton Holdings Pty Ltd - Australia
- Port Waratah Coal Services - Australia
- Directorate Of Revenue Intelligence - India
- Dalmia Cement Bharat India
- Interocean Group of Companies - India
- Attock Cement Pakistan Limited
- Baramulti Group, Indonesia
- Global Business Power Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- Oldendorff Carriers - Singapore
- Marubeni Corporation - India
- Ministry of Mines - Canada
- Carbofer General Trading SA - India
- The State Trading Corporation of India Ltd
- San Jose City I Power Corp, Philippines
- Thai Mozambique Logistica
- Kalimantan Lumbung Energi - Indonesia
- Antam Resourcindo - Indonesia
- Meenaskhi Energy Private Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Xindia Steels Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sarangani Energy Corporation, Philippines
- Essar Steel Hazira Ltd - India
- SN Aboitiz Power Inc, Philippines
- Energy Development Corp, Philippines
- Formosa Plastics Group - Taiwan
- Posco Energy - South Korea
- Gujarat Sidhee Cement - India
- Parliament of New Zealand
- The Treasury - Australian Government
- Pipit Mutiara Jaya. PT, Indonesia
- IEA Clean Coal Centre - UK
- Minerals Council of Australia
- European Bulk Services B.V. - Netherlands
- Rio Tinto Coal - Australia
- Bangladesh Power Developement Board
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Deloitte Consulting - India
- Salva Resources Pvt Ltd - India
- Latin American Coal - Colombia
- Karbindo Abesyapradhi - Indoneisa
- Kaltim Prima Coal - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Banpu Public Company Limited - Thailand
- Samtan Co., Ltd - South Korea
- PTC India Limited - India
- Energy Link Ltd, New Zealand
- Petron Corporation, Philippines
- Ministry of Finance - Indonesia
- Jaiprakash Power Ventures ltd
- Central Electricity Authority - India
- ICICI Bank Limited - India
- International Coal Ventures Pvt Ltd - India
- Wood Mackenzie - Singapore
- Intertek Mineral Services - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Rashtriya Ispat Nigam Limited - India
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