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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, 09 November 12
SHIP OWNERS TURN TO SECOND HAND VESSELS, WHICH COME AT ATTRACTIVE PRICES - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The attractiveness of modern second hand vessels, which are often priced aggressively can't be ignored by cash-rich ship owners, who are taking adv ...
Thursday, 08 November 12
LARGE ECO SUPRA : INDO - INDIA NOW FIXED AT USD 11K FOR DELIVERY SINGAPORE - FEARNLEYS
Handy
The Atlantic market continues to remain weak with rates further softening on FH. Rates from USG to Feast were around USD 14k and Black Sea to ...
Thursday, 08 November 12
DRY BULK MARKET RETREATS AGAIN ON HIGHER SHIP SUPPLY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
In further evidence of a latest round of dry bulk shipping misery, the industry's benchmark fell for the 11th straight session yesterday, as the in ...
Thursday, 08 November 12
JOIN CHINA STEAM COAL SUPPLY - DEMAND FORUM
Join China Steam Coal Supply-Demand Forum & Visit Shenhua Yudean Zhuhai Port Coal Terminal
Press Release - Organized by CBI BIZ and suppo ...
Wednesday, 07 November 12
NEWBUILDING ORDERING ACTIVITY ON A STEADY PACE PRIOR TO THE END OF THE YEAR - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Newbuilding orders, which to many involved in the shipping industry, are the main reason of today's low freight rates and subsequent financial prob ...
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Showing 4511 to 4515 news of total 6871 |
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- SMC Global Power, Philippines
- Therma Luzon, Inc, Philippines
- Edison Trading Spa - Italy
- Aboitiz Power Corporation - Philippines
- Maheswari Brothers Coal Limited - India
- Jorong Barutama Greston.PT - Indonesia
- SN Aboitiz Power Inc, Philippines
- Romanian Commodities Exchange
- McConnell Dowell - Australia
- Kohat Cement Company Ltd. - Pakistan
- International Coal Ventures Pvt Ltd - India
- Thiess Contractors Indonesia
- Altura Mining Limited, Indonesia
- Australian Commodity Traders Exchange
- Alfred C Toepfer International GmbH - Germany
- Kartika Selabumi Mining - Indonesia
- Agrawal Coal Company - India
- Indian Energy Exchange, India
- Goldman Sachs - Singapore
- Mercuria Energy - Indonesia
- Jindal Steel & Power Ltd - India
- Grasim Industreis Ltd - India
- Deloitte Consulting - India
- Iligan Light & Power Inc, Philippines
- Meralco Power Generation, Philippines
- Sarangani Energy Corporation, Philippines
- Makarim & Taira - Indonesia
- Kideco Jaya Agung - Indonesia
- Globalindo Alam Lestari - Indonesia
- The University of Queensland
- Sakthi Sugars Limited - India
- Miang Besar Coal Terminal - Indonesia
- Commonwealth Bank - Australia
- Minerals Council of Australia
- Coastal Gujarat Power Limited - India
- Global Coal Blending Company Limited - Australia
- Pendopo Energi Batubara - Indonesia
- Electricity Authority, New Zealand
- Metalloyd Limited - United Kingdom
- Uttam Galva Steels Limited - India
- Cigading International Bulk Terminal - Indonesia
- Indika Energy - Indonesia
- Sojitz Corporation - Japan
- Jaiprakash Power Ventures ltd
- New Zealand Coal & Carbon
- ICICI Bank Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ambuja Cements Ltd - India
- Karaikal Port Pvt Ltd - India
- Posco Energy - South Korea
- Bhoruka Overseas - Indonesia
- Kobexindo Tractors - Indoneisa
- Ceylon Electricity Board - Sri Lanka
- Thai Mozambique Logistica
- Gujarat Mineral Development Corp Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Standard Chartered Bank - UAE
- India Bulls Power Limited - India
- Central Electricity Authority - India
- Bayan Resources Tbk. - Indonesia
- Attock Cement Pakistan Limited
- Coalindo Energy - Indonesia
- OPG Power Generation Pvt Ltd - India
- Bhatia International Limited - India
- Timah Investasi Mineral - Indoneisa
- Ministry of Transport, Egypt
- Borneo Indobara - Indonesia
- Wood Mackenzie - Singapore
- Sree Jayajothi Cements Limited - India
- Bhushan Steel Limited - India
- Carbofer General Trading SA - India
- GVK Power & Infra Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Port Waratah Coal Services - Australia
- IEA Clean Coal Centre - UK
- White Energy Company Limited
- Chettinad Cement Corporation Ltd - India
- Formosa Plastics Group - Taiwan
- Tamil Nadu electricity Board
- TNB Fuel Sdn Bhd - Malaysia
- Energy Link Ltd, New Zealand
- Siam City Cement - Thailand
- Africa Commodities Group - South Africa
- Bahari Cakrawala Sebuku - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Dalmia Cement Bharat India
- Chamber of Mines of South Africa
- AsiaOL BioFuels Corp., Philippines
- Indogreen Group - Indonesia
- Bharathi Cement Corporation - India
- Ministry of Finance - Indonesia
- London Commodity Brokers - England
- PowerSource Philippines DevCo
- Manunggal Multi Energi - Indonesia
- Essar Steel Hazira Ltd - India
- Lanco Infratech Ltd - India
- Sinarmas Energy and Mining - Indonesia
- IHS Mccloskey Coal Group - USA
- Georgia Ports Authority, United States
- Intertek Mineral Services - Indonesia
- Parry Sugars Refinery, India
- GMR Energy Limited - India
- Rio Tinto Coal - Australia
- Rashtriya Ispat Nigam Limited - India
- Mercator Lines Limited - India
- Cement Manufacturers Association - India
- Holcim Trading Pte Ltd - Singapore
- Salva Resources Pvt Ltd - India
- Orica Australia Pty. Ltd.
- LBH Netherlands Bv - Netherlands
- Malabar Cements Ltd - India
- Samtan Co., Ltd - South Korea
- GN Power Mariveles Coal Plant, Philippines
- Trasteel International SA, Italy
- Bank of Tokyo Mitsubishi UFJ Ltd
- Latin American Coal - Colombia
- Kapuas Tunggal Persada - Indonesia
- Semirara Mining Corp, Philippines
- Coal and Oil Company - UAE
- Semirara Mining and Power Corporation, Philippines
- TeaM Sual Corporation - Philippines
- Anglo American - United Kingdom
- Kepco SPC Power Corporation, Philippines
- Interocean Group of Companies - India
- Eastern Coal Council - USA
- Renaissance Capital - South Africa
- Oldendorff Carriers - Singapore
- Singapore Mercantile Exchange
- Kalimantan Lumbung Energi - Indonesia
- Electricity Generating Authority of Thailand
- Savvy Resources Ltd - HongKong
- Independent Power Producers Association of India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indonesian Coal Mining Association
- Pipit Mutiara Jaya. PT, Indonesia
- Bulk Trading Sa - Switzerland
- Australian Coal Association
- Baramulti Group, Indonesia
- Bukit Baiduri Energy - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- VISA Power Limited - India
- Indo Tambangraya Megah - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Vijayanagar Sugar Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- Wilmar Investment Holdings
- Madhucon Powers Ltd - India
- PTC India Limited - India
- Toyota Tsusho Corporation, Japan
- Gujarat Electricity Regulatory Commission - India
- Ind-Barath Power Infra Limited - India
- Mintek Dendrill Indonesia
- Star Paper Mills Limited - India
- Krishnapatnam Port Company Ltd. - India
- Bangladesh Power Developement Board
- Simpson Spence & Young - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Banpu Public Company Limited - Thailand
- CNBM International Corporation - China
- ASAPP Information Group - India
- Planning Commission, India
- San Jose City I Power Corp, Philippines
- PetroVietnam Power Coal Import and Supply Company
- South Luzon Thermal Energy Corporation
- GAC Shipping (India) Pvt Ltd
- Central Java Power - Indonesia
- CIMB Investment Bank - Malaysia
- Asmin Koalindo Tuhup - Indonesia
- Petron Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- MS Steel International - UAE
- Leighton Contractors Pty Ltd - Australia
- Heidelberg Cement - Germany
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sindya Power Generating Company Private Ltd
- Bukit Makmur.PT - Indonesia
- Ministry of Mines - Canada
- Medco Energi Mining Internasional
- Videocon Industries ltd - India
- Global Green Power PLC Corporation, Philippines
- Vedanta Resources Plc - India
- Riau Bara Harum - Indonesia
- Merrill Lynch Commodities Europe
- SMG Consultants - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- European Bulk Services B.V. - Netherlands
- Tata Chemicals Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- The Treasury - Australian Government
- Parliament of New Zealand
- Bukit Asam (Persero) Tbk - Indonesia
- Meenaskhi Energy Private Limited - India
- Vizag Seaport Private Limited - India
- Xindia Steels Limited - India
- Siam City Cement PLC, Thailand
- Antam Resourcindo - Indonesia
- PNOC Exploration Corporation - Philippines
- Aditya Birla Group - India
- Mjunction Services Limited - India
- Price Waterhouse Coopers - Russia
- Power Finance Corporation Ltd., India
- Gujarat Sidhee Cement - India
- Straits Asia Resources Limited - Singapore
- The State Trading Corporation of India Ltd
- Economic Council, Georgia
- Larsen & Toubro Limited - India
- Directorate Of Revenue Intelligence - India
- Sical Logistics Limited - India
- Kumho Petrochemical, South Korea
- Energy Development Corp, Philippines
- Eastern Energy - Thailand
- Indian Oil Corporation Limited
- Orica Mining Services - Indonesia
- Marubeni Corporation - India
- Global Business Power Corporation, Philippines
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