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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, 16 November 12
SHIP OWNERS KEEP ON INVESTING IN SECOND HAND VESSELS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Priced attractively, modern and with prompt delivery dates, second hand vessels are proving to be rather popular among cash-rich ship owners these d ...
Friday, 16 November 12
HANDY : IRON ORE WAS QUIET AND RATES FROM INDIA TO CHINA AROUND USD 5500
Handy
The Atlantic was weak with more supply of ships. Rates from Continent/ Feast at USD 9000 and from USG/China at USD 15k. The Pacific market re ...
Wednesday, 14 November 12
AUSTRALIAN NEWCASTLE PORT HAS LOADED 11.14 PERCENT MORE COAL W-W
COALspot.com - Newcastle port in Australia has loaded 3,100,686 MT of thermal and coking coal for week ended – 0700 hours 12 November 2012, Ne ...
Tuesday, 13 November 12
INITIAL COAL PRODUCTION AT KATINGAN RIA ON TRACK FOR 2013 FOLLOWING GRANTING OF 'IN PRINCIPLE' FORESTRY PERMIT, INDONESIA
Realm Resources Ltd (“Realm” or the “Company” - ASX: RRP) has announced that its application to upgrade its exploration fore ...
Tuesday, 13 November 12
BULK PORTS & TECHNOLOGY ASIA 2013
Press Release - TOC Events are pleased to announce a new addition to our global portfolio with the launch of the inaugural Bulk Ports & Technolo ...
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- Jindal Steel & Power Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Vizag Seaport Private Limited - India
- Bhoruka Overseas - Indonesia
- Kartika Selabumi Mining - Indonesia
- Rio Tinto Coal - Australia
- Gujarat Sidhee Cement - India
- Videocon Industries ltd - India
- Thiess Contractors Indonesia
- Global Coal Blending Company Limited - Australia
- McConnell Dowell - Australia
- Edison Trading Spa - Italy
- LBH Netherlands Bv - Netherlands
- Antam Resourcindo - Indonesia
- ICICI Bank Limited - India
- Orica Australia Pty. Ltd.
- International Coal Ventures Pvt Ltd - India
- London Commodity Brokers - England
- Indonesian Coal Mining Association
- Sree Jayajothi Cements Limited - India
- Commonwealth Bank - Australia
- Romanian Commodities Exchange
- SMG Consultants - Indonesia
- Madhucon Powers Ltd - India
- Orica Mining Services - Indonesia
- Jaiprakash Power Ventures ltd
- Directorate Of Revenue Intelligence - India
- Star Paper Mills Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Indo Tambangraya Megah - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Electricity Authority, New Zealand
- Sindya Power Generating Company Private Ltd
- GVK Power & Infra Limited - India
- Minerals Council of Australia
- Wood Mackenzie - Singapore
- Australian Commodity Traders Exchange
- The State Trading Corporation of India Ltd
- Pendopo Energi Batubara - Indonesia
- Central Electricity Authority - India
- Globalindo Alam Lestari - Indonesia
- Ambuja Cements Ltd - India
- New Zealand Coal & Carbon
- CIMB Investment Bank - Malaysia
- Mercator Lines Limited - India
- Bhatia International Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Trasteel International SA, Italy
- Petron Corporation, Philippines
- CNBM International Corporation - China
- Xindia Steels Limited - India
- Sarangani Energy Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- Rashtriya Ispat Nigam Limited - India
- Parliament of New Zealand
- The University of Queensland
- SMC Global Power, Philippines
- South Luzon Thermal Energy Corporation
- Meenaskhi Energy Private Limited - India
- Energy Development Corp, Philippines
- Marubeni Corporation - India
- Siam City Cement PLC, Thailand
- Ind-Barath Power Infra Limited - India
- Global Green Power PLC Corporation, Philippines
- Tamil Nadu electricity Board
- Indian Energy Exchange, India
- Eastern Energy - Thailand
- Barasentosa Lestari - Indonesia
- Georgia Ports Authority, United States
- Indogreen Group - Indonesia
- European Bulk Services B.V. - Netherlands
- Semirara Mining and Power Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- PTC India Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kobexindo Tractors - Indoneisa
- Merrill Lynch Commodities Europe
- Bangladesh Power Developement Board
- Iligan Light & Power Inc, Philippines
- Parry Sugars Refinery, India
- Sical Logistics Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Essar Steel Hazira Ltd - India
- Goldman Sachs - Singapore
- Kumho Petrochemical, South Korea
- Central Java Power - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Altura Mining Limited, Indonesia
- Standard Chartered Bank - UAE
- Coalindo Energy - Indonesia
- Global Business Power Corporation, Philippines
- Salva Resources Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Coal and Oil Company - UAE
- Bukit Baiduri Energy - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Borneo Indobara - Indonesia
- Baramulti Group, Indonesia
- Uttam Galva Steels Limited - India
- OPG Power Generation Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- Energy Link Ltd, New Zealand
- Indian Oil Corporation Limited
- Sakthi Sugars Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Port Waratah Coal Services - Australia
- Vedanta Resources Plc - India
- Manunggal Multi Energi - Indonesia
- Renaissance Capital - South Africa
- Intertek Mineral Services - Indonesia
- PowerSource Philippines DevCo
- Australian Coal Association
- Bukit Makmur.PT - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Riau Bara Harum - Indonesia
- Aditya Birla Group - India
- Aboitiz Power Corporation - Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Malabar Cements Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Latin American Coal - Colombia
- San Jose City I Power Corp, Philippines
- Wilmar Investment Holdings
- Planning Commission, India
- Bayan Resources Tbk. - Indonesia
- Therma Luzon, Inc, Philippines
- Binh Thuan Hamico - Vietnam
- Bhushan Steel Limited - India
- Cement Manufacturers Association - India
- Ceylon Electricity Board - Sri Lanka
- Bulk Trading Sa - Switzerland
- TeaM Sual Corporation - Philippines
- Kaltim Prima Coal - Indonesia
- Banpu Public Company Limited - Thailand
- Mercuria Energy - Indonesia
- Carbofer General Trading SA - India
- Makarim & Taira - Indonesia
- Mjunction Services Limited - India
- Agrawal Coal Company - India
- Africa Commodities Group - South Africa
- GN Power Mariveles Coal Plant, Philippines
- Sinarmas Energy and Mining - Indonesia
- Semirara Mining Corp, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Metalloyd Limited - United Kingdom
- Tata Chemicals Ltd - India
- GMR Energy Limited - India
- Electricity Generating Authority of Thailand
- Singapore Mercantile Exchange
- Toyota Tsusho Corporation, Japan
- Siam City Cement - Thailand
- TNB Fuel Sdn Bhd - Malaysia
- Lanco Infratech Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Formosa Plastics Group - Taiwan
- Independent Power Producers Association of India
- Interocean Group of Companies - India
- Ministry of Finance - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Karaikal Port Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Coastal Gujarat Power Limited - India
- Price Waterhouse Coopers - Russia
- Eastern Coal Council - USA
- Samtan Co., Ltd - South Korea
- Timah Investasi Mineral - Indoneisa
- IHS Mccloskey Coal Group - USA
- Economic Council, Georgia
- Ministry of Mines - Canada
- MS Steel International - UAE
- Medco Energi Mining Internasional
- Cigading International Bulk Terminal - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Maheswari Brothers Coal Limited - India
- Miang Besar Coal Terminal - Indonesia
- The Treasury - Australian Government
- Bukit Asam (Persero) Tbk - Indonesia
- Larsen & Toubro Limited - India
- Meralco Power Generation, Philippines
- Kideco Jaya Agung - Indonesia
- VISA Power Limited - India
- Simpson Spence & Young - Indonesia
- Posco Energy - South Korea
- Ministry of Transport, Egypt
- Grasim Industreis Ltd - India
- ASAPP Information Group - India
- PNOC Exploration Corporation - Philippines
- Attock Cement Pakistan Limited
- Leighton Contractors Pty Ltd - Australia
- Power Finance Corporation Ltd., India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indika Energy - Indonesia
- Heidelberg Cement - Germany
- India Bulls Power Limited - India
- Kepco SPC Power Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Chamber of Mines of South Africa
- Chettinad Cement Corporation Ltd - India
- SN Aboitiz Power Inc, Philippines
- Sojitz Corporation - Japan
- White Energy Company Limited
- Maharashtra Electricity Regulatory Commission - India
- Savvy Resources Ltd - HongKong
- Thai Mozambique Logistica
- IEA Clean Coal Centre - UK
- AsiaOL BioFuels Corp., Philippines
- Anglo American - United Kingdom
- Deloitte Consulting - India
- Dalmia Cement Bharat India
- Mintek Dendrill Indonesia
- Oldendorff Carriers - Singapore
- Bharathi Cement Corporation - India
- PetroVietnam Power Coal Import and Supply Company
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