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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, 12 November 12
THE ESTABLISHMENT OF NORTH KALIMANTAN AS A NEW PROVINCE WILL NOT AFFECT THE LOCAL MINING COMPANIES
The government of Indonesia has ensured that the establishment of North Kalimantan as a new province will not affect the local mining companies ...
Monday, 12 November 12
DRILLING COMPLETED AT THE MOORLANDS DEPOSIT, WEST BOWEN PROJECT
Press Release - Cuesta Coal Limited (ASX: CQC) (“Cuesta”) is pleased to announce it has completed its exploration activities at the Moor ...
Monday, 12 November 12
BARGE-LOAD OF 5K TONNES OF COAL FROM THE ADK JOINT VENTURE SHIPPED LAST WEEK
COALspot.com - Orpheus Energy (ASX:OEG) has announced that, it has successfully shipped a 5,000 tonne of ADK thermal coal to an Indonesian trading g ...
Sunday, 11 November 12
AN OPTIMISTIC WEEK FOR INDONESIAN SUB-BIT COAL
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) for January 2013 delivery gains 2.08 percent WoW and 1.28 percent DoD on Friday, 9 November ...
Sunday, 11 November 12
THE IRON ORE AND COAL PRICES MOVEMENTS REMAINS LOW - VISTAAR
COALspot.com The market remained soft with all the sectors soft.
The BDI and was down by 4.67 pct closing at 940 points, on Friday 9 Novemb ...
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- Billiton Holdings Pty Ltd - Australia
- Thai Mozambique Logistica
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- SN Aboitiz Power Inc, Philippines
- Sakthi Sugars Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Parry Sugars Refinery, India
- Offshore Bulk Terminal Pte Ltd, Singapore
- ICICI Bank Limited - India
- Coal and Oil Company - UAE
- Aditya Birla Group - India
- Vijayanagar Sugar Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- LBH Netherlands Bv - Netherlands
- Bhatia International Limited - India
- Coastal Gujarat Power Limited - India
- Ministry of Finance - Indonesia
- Intertek Mineral Services - Indonesia
- Ministry of Transport, Egypt
- Mercuria Energy - Indonesia
- Tata Chemicals Ltd - India
- Africa Commodities Group - South Africa
- Sinarmas Energy and Mining - Indonesia
- Simpson Spence & Young - Indonesia
- Anglo American - United Kingdom
- Marubeni Corporation - India
- Bangladesh Power Developement Board
- San Jose City I Power Corp, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- South Luzon Thermal Energy Corporation
- The Treasury - Australian Government
- Ind-Barath Power Infra Limited - India
- Minerals Council of Australia
- Semirara Mining and Power Corporation, Philippines
- Oldendorff Carriers - Singapore
- Price Waterhouse Coopers - Russia
- Parliament of New Zealand
- Tamil Nadu electricity Board
- Power Finance Corporation Ltd., India
- Mjunction Services Limited - India
- Malabar Cements Ltd - India
- GVK Power & Infra Limited - India
- Global Coal Blending Company Limited - Australia
- Heidelberg Cement - Germany
- SMG Consultants - Indonesia
- Bharathi Cement Corporation - India
- Bukit Makmur.PT - Indonesia
- European Bulk Services B.V. - Netherlands
- OPG Power Generation Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Metalloyd Limited - United Kingdom
- Mercator Lines Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Electricity Generating Authority of Thailand
- Kepco SPC Power Corporation, Philippines
- Barasentosa Lestari - Indonesia
- Pendopo Energi Batubara - Indonesia
- Indonesian Coal Mining Association
- Timah Investasi Mineral - Indoneisa
- Gujarat Sidhee Cement - India
- TeaM Sual Corporation - Philippines
- Bukit Baiduri Energy - Indonesia
- Madhucon Powers Ltd - India
- Sree Jayajothi Cements Limited - India
- Cement Manufacturers Association - India
- India Bulls Power Limited - India
- Goldman Sachs - Singapore
- ASAPP Information Group - India
- Holcim Trading Pte Ltd - Singapore
- Global Business Power Corporation, Philippines
- Posco Energy - South Korea
- Rashtriya Ispat Nigam Limited - India
- Kumho Petrochemical, South Korea
- Agrawal Coal Company - India
- Global Green Power PLC Corporation, Philippines
- Latin American Coal - Colombia
- Standard Chartered Bank - UAE
- Thiess Contractors Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Gujarat Mineral Development Corp Ltd - India
- Singapore Mercantile Exchange
- Kapuas Tunggal Persada - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Jorong Barutama Greston.PT - Indonesia
- Ambuja Cements Ltd - India
- Kobexindo Tractors - Indoneisa
- Kideco Jaya Agung - Indonesia
- Indian Energy Exchange, India
- Siam City Cement - Thailand
- Savvy Resources Ltd - HongKong
- Neyveli Lignite Corporation Ltd, - India
- Rio Tinto Coal - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Gujarat Electricity Regulatory Commission - India
- Videocon Industries ltd - India
- Globalindo Alam Lestari - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Borneo Indobara - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Central Electricity Authority - India
- The University of Queensland
- Siam City Cement PLC, Thailand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Semirara Mining Corp, Philippines
- Aboitiz Power Corporation - Philippines
- Sical Logistics Limited - India
- Chamber of Mines of South Africa
- Jindal Steel & Power Ltd - India
- New Zealand Coal & Carbon
- Wilmar Investment Holdings
- London Commodity Brokers - England
- Coalindo Energy - Indonesia
- Orica Australia Pty. Ltd.
- Bayan Resources Tbk. - Indonesia
- Therma Luzon, Inc, Philippines
- Banpu Public Company Limited - Thailand
- Riau Bara Harum - Indonesia
- SMC Global Power, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Australian Coal Association
- Altura Mining Limited, Indonesia
- Economic Council, Georgia
- Sojitz Corporation - Japan
- Energy Link Ltd, New Zealand
- Ministry of Mines - Canada
- Salva Resources Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- AsiaOL BioFuels Corp., Philippines
- Interocean Group of Companies - India
- Mintek Dendrill Indonesia
- Bhushan Steel Limited - India
- Xindia Steels Limited - India
- Sindya Power Generating Company Private Ltd
- Medco Energi Mining Internasional
- PTC India Limited - India
- PowerSource Philippines DevCo
- Orica Mining Services - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Makarim & Taira - Indonesia
- Formosa Plastics Group - Taiwan
- Carbofer General Trading SA - India
- Kaltim Prima Coal - Indonesia
- CNBM International Corporation - China
- IEA Clean Coal Centre - UK
- Manunggal Multi Energi - Indonesia
- Eastern Energy - Thailand
- Central Java Power - Indonesia
- Sarangani Energy Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- Port Waratah Coal Services - Australia
- Indika Energy - Indonesia
- Indogreen Group - Indonesia
- Vedanta Resources Plc - India
- Karaikal Port Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- Renaissance Capital - South Africa
- Uttam Galva Steels Limited - India
- Directorate Of Revenue Intelligence - India
- Bhoruka Overseas - Indonesia
- Petron Corporation, Philippines
- Attock Cement Pakistan Limited
- McConnell Dowell - Australia
- Larsen & Toubro Limited - India
- Straits Asia Resources Limited - Singapore
- Chettinad Cement Corporation Ltd - India
- VISA Power Limited - India
- Planning Commission, India
- Bahari Cakrawala Sebuku - Indonesia
- Vizag Seaport Private Limited - India
- Krishnapatnam Port Company Ltd. - India
- PNOC Exploration Corporation - Philippines
- Commonwealth Bank - Australia
- Indo Tambangraya Megah - Indonesia
- Meenaskhi Energy Private Limited - India
- Deloitte Consulting - India
- IHS Mccloskey Coal Group - USA
- The State Trading Corporation of India Ltd
- Merrill Lynch Commodities Europe
- Australian Commodity Traders Exchange
- Grasim Industreis Ltd - India
- Kartika Selabumi Mining - Indonesia
- Romanian Commodities Exchange
- Alfred C Toepfer International GmbH - Germany
- Dalmia Cement Bharat India
- PetroVietnam Power Coal Import and Supply Company
- Eastern Coal Council - USA
- Miang Besar Coal Terminal - Indonesia
- White Energy Company Limited
- Petrochimia International Co. Ltd.- Taiwan
- GMR Energy Limited - India
- Energy Development Corp, Philippines
- CIMB Investment Bank - Malaysia
- Bulk Trading Sa - Switzerland
- Binh Thuan Hamico - Vietnam
- Independent Power Producers Association of India
- Electricity Authority, New Zealand
- Georgia Ports Authority, United States
- Wood Mackenzie - Singapore
- Jaiprakash Power Ventures ltd
- Edison Trading Spa - Italy
- Leighton Contractors Pty Ltd - Australia
- Samtan Co., Ltd - South Korea
- Meralco Power Generation, Philippines
- Baramulti Group, Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Indian Oil Corporation Limited
- GAC Shipping (India) Pvt Ltd
- Star Paper Mills Limited - India
- Trasteel International SA, Italy
- Lanco Infratech Ltd - India
- Essar Steel Hazira Ltd - India
- Iligan Light & Power Inc, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Antam Resourcindo - Indonesia
- International Coal Ventures Pvt Ltd - India
- MS Steel International - UAE
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