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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, 27 November 12
NEWCASTLE PORT HAS SHIPPED 1.79 MILLION TONS OF COAL W/E 26 NOVEMBER
COALspot.com - Newcastle port in Australia has loaded 1,793,841 MT of thermal and coking coal for week ended 0700 hours 26 November 2012, Newc ...
Sunday, 25 November 12
INDONESIA TO INDIA SUPRAMAX FREIGHT RATES ARE EXPECTED TO BE FIRM - VISTAAR
COALspot.com - The freight market was buoyant this week with all sectors up except for the Cape size index. The BDI was up by 5.21 pct closing at 10 ...
Sunday, 25 November 12
INDONESIAN SUB BITUMINOUS COAL SWAP CONTRACTS SLIDE
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) for February 2013 delivery lost 0.76percent WoW but gained 0.16 percent DoD on Friday ...
Saturday, 24 November 12
DELTA DUNIA MAKMUR PRODUCES 3.2 MILLION TONS OF COAL IN OCTOBER
COALspot.com - PT Delta Dunia Makmur Tbk., has removed 31.1 million bcm* (-4.0% YoY) of Overburden in October 2012 totaled while coal production was ...
Friday, 23 November 12
CHOOSING THE RIGHT TIME TO INVEST IN NEW VESSELS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Shipping is all about timing, a process often rising to the height of artform, as ship owners are having to pick the exact moment of selling most of ...
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- Toyota Tsusho Corporation, Japan
- TNB Fuel Sdn Bhd - Malaysia
- Global Green Power PLC Corporation, Philippines
- Jindal Steel & Power Ltd - India
- The University of Queensland
- Baramulti Group, Indonesia
- Star Paper Mills Limited - India
- GVK Power & Infra Limited - India
- IEA Clean Coal Centre - UK
- GMR Energy Limited - India
- Billiton Holdings Pty Ltd - Australia
- Kartika Selabumi Mining - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Meralco Power Generation, Philippines
- The State Trading Corporation of India Ltd
- Sarangani Energy Corporation, Philippines
- Mercator Lines Limited - India
- Global Coal Blending Company Limited - Australia
- Jaiprakash Power Ventures ltd
- Formosa Plastics Group - Taiwan
- Indonesian Coal Mining Association
- Bukit Makmur.PT - Indonesia
- Kaltim Prima Coal - Indonesia
- MS Steel International - UAE
- San Jose City I Power Corp, Philippines
- Maheswari Brothers Coal Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Holcim Trading Pte Ltd - Singapore
- Bulk Trading Sa - Switzerland
- Maharashtra Electricity Regulatory Commission - India
- Merrill Lynch Commodities Europe
- Manunggal Multi Energi - Indonesia
- Electricity Authority, New Zealand
- Posco Energy - South Korea
- Coastal Gujarat Power Limited - India
- Parry Sugars Refinery, India
- Karaikal Port Pvt Ltd - India
- ASAPP Information Group - India
- Directorate Of Revenue Intelligence - India
- Sakthi Sugars Limited - India
- Energy Development Corp, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indian Oil Corporation Limited
- Trasteel International SA, Italy
- Orica Australia Pty. Ltd.
- Sical Logistics Limited - India
- European Bulk Services B.V. - Netherlands
- Mintek Dendrill Indonesia
- Sree Jayajothi Cements Limited - India
- Indika Energy - Indonesia
- Australian Coal Association
- Commonwealth Bank - Australia
- Agrawal Coal Company - India
- Goldman Sachs - Singapore
- AsiaOL BioFuels Corp., Philippines
- Siam City Cement - Thailand
- Mercuria Energy - Indonesia
- Dalmia Cement Bharat India
- Asmin Koalindo Tuhup - Indonesia
- Simpson Spence & Young - Indonesia
- Eastern Energy - Thailand
- Economic Council, Georgia
- Cement Manufacturers Association - India
- Electricity Generating Authority of Thailand
- Thai Mozambique Logistica
- Kapuas Tunggal Persada - Indonesia
- Attock Cement Pakistan Limited
- Globalindo Alam Lestari - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Eastern Coal Council - USA
- Indian Energy Exchange, India
- Altura Mining Limited, Indonesia
- Parliament of New Zealand
- Renaissance Capital - South Africa
- Chettinad Cement Corporation Ltd - India
- Ministry of Transport, Egypt
- CNBM International Corporation - China
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Mjunction Services Limited - India
- Medco Energi Mining Internasional
- Thiess Contractors Indonesia
- Borneo Indobara - Indonesia
- Ministry of Finance - Indonesia
- Price Waterhouse Coopers - Russia
- Straits Asia Resources Limited - Singapore
- White Energy Company Limited
- Essar Steel Hazira Ltd - India
- Tata Chemicals Ltd - India
- Savvy Resources Ltd - HongKong
- Kideco Jaya Agung - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Madhucon Powers Ltd - India
- Larsen & Toubro Limited - India
- India Bulls Power Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Grasim Industreis Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Energy Link Ltd, New Zealand
- Ambuja Cements Ltd - India
- Iligan Light & Power Inc, Philippines
- Oldendorff Carriers - Singapore
- Kohat Cement Company Ltd. - Pakistan
- Central Electricity Authority - India
- Central Java Power - Indonesia
- Aditya Birla Group - India
- Leighton Contractors Pty Ltd - Australia
- Pendopo Energi Batubara - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Edison Trading Spa - Italy
- Bhushan Steel Limited - India
- Semirara Mining and Power Corporation, Philippines
- Minerals Council of Australia
- PowerSource Philippines DevCo
- Indogreen Group - Indonesia
- Kobexindo Tractors - Indoneisa
- SN Aboitiz Power Inc, Philippines
- Jorong Barutama Greston.PT - Indonesia
- LBH Netherlands Bv - Netherlands
- Rio Tinto Coal - Australia
- Sindya Power Generating Company Private Ltd
- Offshore Bulk Terminal Pte Ltd, Singapore
- Salva Resources Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- New Zealand Coal & Carbon
- Singapore Mercantile Exchange
- Ministry of Mines - Canada
- Marubeni Corporation - India
- PetroVietnam Power Coal Import and Supply Company
- Semirara Mining Corp, Philippines
- Standard Chartered Bank - UAE
- Heidelberg Cement - Germany
- PNOC Exploration Corporation - Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Independent Power Producers Association of India
- Kumho Petrochemical, South Korea
- Anglo American - United Kingdom
- Timah Investasi Mineral - Indoneisa
- Port Waratah Coal Services - Australia
- GAC Shipping (India) Pvt Ltd
- VISA Power Limited - India
- IHS Mccloskey Coal Group - USA
- Bharathi Cement Corporation - India
- Uttam Galva Steels Limited - India
- Antam Resourcindo - Indonesia
- International Coal Ventures Pvt Ltd - India
- Chamber of Mines of South Africa
- Petrochimia International Co. Ltd.- Taiwan
- Kepco SPC Power Corporation, Philippines
- Riau Bara Harum - Indonesia
- Australian Commodity Traders Exchange
- Samtan Co., Ltd - South Korea
- SMC Global Power, Philippines
- Planning Commission, India
- Bangladesh Power Developement Board
- Orica Mining Services - Indonesia
- Barasentosa Lestari - Indonesia
- London Commodity Brokers - England
- Siam City Cement PLC, Thailand
- Malabar Cements Ltd - India
- Vedanta Resources Plc - India
- Aboitiz Power Corporation - Philippines
- SMG Consultants - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Global Business Power Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- Wood Mackenzie - Singapore
- Petron Corporation, Philippines
- Metalloyd Limited - United Kingdom
- Videocon Industries ltd - India
- Gujarat Sidhee Cement - India
- Bhatia International Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Xindia Steels Limited - India
- Coal and Oil Company - UAE
- McConnell Dowell - Australia
- Rashtriya Ispat Nigam Limited - India
- Makarim & Taira - Indonesia
- Deloitte Consulting - India
- Lanco Infratech Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Latin American Coal - Colombia
- Intertek Mineral Services - Indonesia
- South Luzon Thermal Energy Corporation
- Vizag Seaport Private Limited - India
- Therma Luzon, Inc, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Interocean Group of Companies - India
- Ind-Barath Power Infra Limited - India
- ICICI Bank Limited - India
- Miang Besar Coal Terminal - Indonesia
- Meenaskhi Energy Private Limited - India
- Gujarat Electricity Regulatory Commission - India
- Bukit Baiduri Energy - Indonesia
- CIMB Investment Bank - Malaysia
- Karbindo Abesyapradhi - Indoneisa
- Banpu Public Company Limited - Thailand
- OPG Power Generation Pvt Ltd - India
- Africa Commodities Group - South Africa
- Power Finance Corporation Ltd., India
- Bayan Resources Tbk. - Indonesia
- The Treasury - Australian Government
- Georgia Ports Authority, United States
- PTC India Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- Romanian Commodities Exchange
- Bhoruka Overseas - Indonesia
- Wilmar Investment Holdings
- Coalindo Energy - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Sojitz Corporation - Japan
- Carbofer General Trading SA - India
- TeaM Sual Corporation - Philippines
- Tamil Nadu electricity Board
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