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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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Monday, 19 November 12
GOVT PREPARES TO FACE ANOTHER SUIT ON MINING LAW - THE JAKARTA POST
The government is gearing up to face a complaint on the 2009 Mining Law prepared by the same organization that previously brought down upstream oil ...
Monday, 19 November 12
IHS MCCLOSKEY ASIA PACIFIC COAL OUTLOOK CONFERENCE 2012
With the current global oversupply of thermal coal showing no signs of abating and spot prices falling to a two-year low, concerns are growing that ...
Sunday, 18 November 12
INDONESIAN SUB BITUMINOUS COAL SWAPS FOR JANUARY 2013 DELIVERY GAINS 1.29 PERCENT WOW
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) for January 2013 delivery gains 1.29 percent WoW and 0.25 percent DoD on Friday, 16 Novembe ...
Saturday, 17 November 12
THE SUPRAMAX FREIGHT RATES FROM INDONESIA TO INDIA ARE EXPECTED TO BE UP NEXT WEEK - VISTAAR
COALspot.com - This week market sentiments ended positive with all the segments ending higher except for handy size which was almost at same levels ...
Saturday, 17 November 12
RECORD DEMOLITION ACTIVITY SEEKS TO CURB TONNAGE OVERSUPPLY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
This year will prove to be another record-breaker in terms of scrapping of older vessels across all shipping segments, as the equally feverish pace ...
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- International Coal Ventures Pvt Ltd - India
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- Oldendorff Carriers - Singapore
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- Coal and Oil Company - UAE
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- CNBM International Corporation - China
- Thiess Contractors Indonesia
- Orica Mining Services - Indonesia
- Semirara Mining Corp, Philippines
- Sojitz Corporation - Japan
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- Australian Coal Association
- Indonesian Coal Mining Association
- Riau Bara Harum - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- LBH Netherlands Bv - Netherlands
- Trasteel International SA, Italy
- Vedanta Resources Plc - India
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- San Jose City I Power Corp, Philippines
- Simpson Spence & Young - Indonesia
- Electricity Generating Authority of Thailand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
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- Aditya Birla Group - India
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- Orica Australia Pty. Ltd.
- Bharathi Cement Corporation - India
- Bhoruka Overseas - Indonesia
- Savvy Resources Ltd - HongKong
- Ministry of Mines - Canada
- Jorong Barutama Greston.PT - Indonesia
- TeaM Sual Corporation - Philippines
- Gujarat Mineral Development Corp Ltd - India
- Ministry of Transport, Egypt
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- Planning Commission, India
- Alfred C Toepfer International GmbH - Germany
- Indika Energy - Indonesia
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- Central Electricity Authority - India
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- Romanian Commodities Exchange
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- Cement Manufacturers Association - India
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- Ceylon Electricity Board - Sri Lanka
- Mintek Dendrill Indonesia
- Binh Thuan Hamico - Vietnam
- Kumho Petrochemical, South Korea
- Deloitte Consulting - India
- Price Waterhouse Coopers - Russia
- Chamber of Mines of South Africa
- Sindya Power Generating Company Private Ltd
- The State Trading Corporation of India Ltd
- Bukit Baiduri Energy - Indonesia
- Commonwealth Bank - Australia
- Straits Asia Resources Limited - Singapore
- Billiton Holdings Pty Ltd - Australia
- Economic Council, Georgia
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- Ambuja Cements Ltd - India
- Madhucon Powers Ltd - India
- ICICI Bank Limited - India
- Africa Commodities Group - South Africa
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- Directorate General of MIneral and Coal - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Karaikal Port Pvt Ltd - India
- Eastern Energy - Thailand
- VISA Power Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Georgia Ports Authority, United States
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- Vizag Seaport Private Limited - India
- Global Green Power PLC Corporation, Philippines
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- Intertek Mineral Services - Indonesia
- Agrawal Coal Company - India
- ASAPP Information Group - India
- Rio Tinto Coal - Australia
- Kalimantan Lumbung Energi - Indonesia
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- GMR Energy Limited - India
- Meenaskhi Energy Private Limited - India
- Xindia Steels Limited - India
- Australian Commodity Traders Exchange
- SN Aboitiz Power Inc, Philippines
- Jindal Steel & Power Ltd - India
- Banpu Public Company Limited - Thailand
- Indian Oil Corporation Limited
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- Tamil Nadu electricity Board
- Formosa Plastics Group - Taiwan
- Energy Development Corp, Philippines
- GN Power Mariveles Coal Plant, Philippines
- PowerSource Philippines DevCo
- Neyveli Lignite Corporation Ltd, - India
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- Global Coal Blending Company Limited - Australia
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- Electricity Authority, New Zealand
- Singapore Mercantile Exchange
- Grasim Industreis Ltd - India
- Ministry of Finance - Indonesia
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- Energy Link Ltd, New Zealand
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- Chettinad Cement Corporation Ltd - India
- Standard Chartered Bank - UAE
- Tata Chemicals Ltd - India
- Goldman Sachs - Singapore
- Kohat Cement Company Ltd. - Pakistan
- Baramulti Group, Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Rashtriya Ispat Nigam Limited - India
- IEA Clean Coal Centre - UK
- Makarim & Taira - Indonesia
- Siam City Cement - Thailand
- Indian Energy Exchange, India
- Marubeni Corporation - India
- Manunggal Multi Energi - Indonesia
- Essar Steel Hazira Ltd - India
- Bayan Resources Tbk. - Indonesia
- Bhushan Steel Limited - India
- Bhatia International Limited - India
- Sakthi Sugars Limited - India
- Ind-Barath Power Infra Limited - India
- Eastern Coal Council - USA
- Port Waratah Coal Services - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- European Bulk Services B.V. - Netherlands
- Bank of Tokyo Mitsubishi UFJ Ltd
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- TNB Fuel Sdn Bhd - Malaysia
- PetroVietnam Power Coal Import and Supply Company
- Global Business Power Corporation, Philippines
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- OPG Power Generation Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- SMG Consultants - Indonesia
- GVK Power & Infra Limited - India
- IHS Mccloskey Coal Group - USA
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- Meralco Power Generation, Philippines
- Anglo American - United Kingdom
- Barasentosa Lestari - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- PNOC Exploration Corporation - Philippines
- The University of Queensland
- New Zealand Coal & Carbon
- Jaiprakash Power Ventures ltd
- Merrill Lynch Commodities Europe
- Central Java Power - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Petron Corporation, Philippines
- Wood Mackenzie - Singapore
- SMC Global Power, Philippines
- Heidelberg Cement - Germany
- Edison Trading Spa - Italy
- Parliament of New Zealand
- Videocon Industries ltd - India
- London Commodity Brokers - England
- Carbofer General Trading SA - India
- Aboitiz Power Corporation - Philippines
- Sinarmas Energy and Mining - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Larsen & Toubro Limited - India
- Coalindo Energy - Indonesia
- The Treasury - Australian Government
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- Metalloyd Limited - United Kingdom
- Bulk Trading Sa - Switzerland
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