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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, 06 November 12
NOVEMBER 2012 HBA $35.21 LOWER THAN A YEAR AGO
COALspot.com - The Indonesian government’s declared coal reference price for November’ 12 has lost US$ 4.60 per MT M-o-M.
...
Sunday, 04 November 12
SUB-BIT INDONESIA COAL SWAPS FOR DECEMBER' 12 DELIVERY FALLS TO $ 59.78
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) for December 2012 delivery fell -1.02 percent on WoW but gained 0.08 percent on D-D on Friday, 2 ...
Saturday, 03 November 12
THE SUPRAMAX FREIGHT EXPECTED TO BE SOFT NEXT WEEK - VISTAAR
COALspot.com - This week the market remained soft with all the sectors soft.
The BDI and was down by 6 pct closing at 986 points. The cape index ...
Saturday, 03 November 12
DEMOLITION IS THE KEY FOR DRY BULK SHIPPING'S RECOVERY SAYS SHIPBROKER - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
With the number of new building deliveries so far in 2012 already having surpassed the total of 2011, it's more than clear that the dry bulk sector ...
Thursday, 01 November 12
INDONESIA HAS REVISED DOWN ITS 2012 DOMESTIC MARKET OBLIGATION REQUIREMENT FOR COAL
COALspot.com - Minister of Energy and Mineral Resources of Indonesia has revised down its 2012 domestic market obligation requirement due to lower d ...
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- Global Green Power PLC Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- Georgia Ports Authority, United States
- Simpson Spence & Young - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Minerals Council of Australia
- Sindya Power Generating Company Private Ltd
- Makarim & Taira - Indonesia
- Power Finance Corporation Ltd., India
- Directorate Of Revenue Intelligence - India
- Tamil Nadu electricity Board
- PTC India Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Mercator Lines Limited - India
- Energy Development Corp, Philippines
- PNOC Exploration Corporation - Philippines
- Binh Thuan Hamico - Vietnam
- Indo Tambangraya Megah - Indonesia
- GMR Energy Limited - India
- Gujarat Electricity Regulatory Commission - India
- Deloitte Consulting - India
- South Luzon Thermal Energy Corporation
- Formosa Plastics Group - Taiwan
- CNBM International Corporation - China
- Ambuja Cements Ltd - India
- Lanco Infratech Ltd - India
- Bulk Trading Sa - Switzerland
- LBH Netherlands Bv - Netherlands
- Cement Manufacturers Association - India
- Orica Mining Services - Indonesia
- Price Waterhouse Coopers - Russia
- The State Trading Corporation of India Ltd
- Toyota Tsusho Corporation, Japan
- Karbindo Abesyapradhi - Indoneisa
- Oldendorff Carriers - Singapore
- Sree Jayajothi Cements Limited - India
- Essar Steel Hazira Ltd - India
- Star Paper Mills Limited - India
- Kepco SPC Power Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- Antam Resourcindo - Indonesia
- Bhatia International Limited - India
- Ceylon Electricity Board - Sri Lanka
- Commonwealth Bank - Australia
- Planning Commission, India
- Bangladesh Power Developement Board
- Global Business Power Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Leighton Contractors Pty Ltd - Australia
- Electricity Authority, New Zealand
- Bahari Cakrawala Sebuku - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Kapuas Tunggal Persada - Indonesia
- San Jose City I Power Corp, Philippines
- Jaiprakash Power Ventures ltd
- Sinarmas Energy and Mining - Indonesia
- Carbofer General Trading SA - India
- Directorate General of MIneral and Coal - Indonesia
- Global Coal Blending Company Limited - Australia
- Port Waratah Coal Services - Australia
- SMC Global Power, Philippines
- Iligan Light & Power Inc, Philippines
- Orica Australia Pty. Ltd.
- Sakthi Sugars Limited - India
- Banpu Public Company Limited - Thailand
- Neyveli Lignite Corporation Ltd, - India
- Eastern Energy - Thailand
- TeaM Sual Corporation - Philippines
- Timah Investasi Mineral - Indoneisa
- Meralco Power Generation, Philippines
- Central Java Power - Indonesia
- Riau Bara Harum - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Madhucon Powers Ltd - India
- Attock Cement Pakistan Limited
- GVK Power & Infra Limited - India
- Asmin Koalindo Tuhup - Indonesia
- India Bulls Power Limited - India
- Semirara Mining and Power Corporation, Philippines
- Xindia Steels Limited - India
- Heidelberg Cement - Germany
- Mjunction Services Limited - India
- Intertek Mineral Services - Indonesia
- Indian Energy Exchange, India
- Karaikal Port Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Wilmar Investment Holdings
- Videocon Industries ltd - India
- Rio Tinto Coal - Australia
- Gujarat Sidhee Cement - India
- Kobexindo Tractors - Indoneisa
- Central Electricity Authority - India
- Metalloyd Limited - United Kingdom
- ICICI Bank Limited - India
- International Coal Ventures Pvt Ltd - India
- Parliament of New Zealand
- Sojitz Corporation - Japan
- Indonesian Coal Mining Association
- ASAPP Information Group - India
- Siam City Cement PLC, Thailand
- Bukit Makmur.PT - Indonesia
- Anglo American - United Kingdom
- Altura Mining Limited, Indonesia
- Ministry of Mines - Canada
- Jindal Steel & Power Ltd - India
- Standard Chartered Bank - UAE
- Indika Energy - Indonesia
- Manunggal Multi Energi - Indonesia
- Grasim Industreis Ltd - India
- Miang Besar Coal Terminal - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Petrochimia International Co. Ltd.- Taiwan
- Larsen & Toubro Limited - India
- Samtan Co., Ltd - South Korea
- Edison Trading Spa - Italy
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Savvy Resources Ltd - HongKong
- Kumho Petrochemical, South Korea
- Electricity Generating Authority of Thailand
- New Zealand Coal & Carbon
- Mercuria Energy - Indonesia
- IEA Clean Coal Centre - UK
- Straits Asia Resources Limited - Singapore
- Thai Mozambique Logistica
- Chettinad Cement Corporation Ltd - India
- Borneo Indobara - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Medco Energi Mining Internasional
- VISA Power Limited - India
- SN Aboitiz Power Inc, Philippines
- Petron Corporation, Philippines
- Wood Mackenzie - Singapore
- PowerSource Philippines DevCo
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kaltim Prima Coal - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Aditya Birla Group - India
- Singapore Mercantile Exchange
- Merrill Lynch Commodities Europe
- Australian Commodity Traders Exchange
- Romanian Commodities Exchange
- Eastern Coal Council - USA
- TNB Fuel Sdn Bhd - Malaysia
- Indogreen Group - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bhoruka Overseas - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Pendopo Energi Batubara - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Barasentosa Lestari - Indonesia
- European Bulk Services B.V. - Netherlands
- Renaissance Capital - South Africa
- Kohat Cement Company Ltd. - Pakistan
- Sical Logistics Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Mintek Dendrill Indonesia
- MS Steel International - UAE
- McConnell Dowell - Australia
- The University of Queensland
- Dalmia Cement Bharat India
- London Commodity Brokers - England
- Coastal Gujarat Power Limited - India
- Sarangani Energy Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Tata Chemicals Ltd - India
- Bayan Resources Tbk. - Indonesia
- Vizag Seaport Private Limited - India
- OPG Power Generation Pvt Ltd - India
- Malabar Cements Ltd - India
- Meenaskhi Energy Private Limited - India
- Therma Luzon, Inc, Philippines
- Agrawal Coal Company - India
- Gujarat Mineral Development Corp Ltd - India
- Kartika Selabumi Mining - Indonesia
- Salva Resources Pvt Ltd - India
- Vedanta Resources Plc - India
- Maharashtra Electricity Regulatory Commission - India
- Globalindo Alam Lestari - Indonesia
- Bharathi Cement Corporation - India
- Maheswari Brothers Coal Limited - India
- Trasteel International SA, Italy
- Coal and Oil Company - UAE
- Energy Link Ltd, New Zealand
- Bhushan Steel Limited - India
- Posco Energy - South Korea
- Aboitiz Power Corporation - Philippines
- Ministry of Transport, Egypt
- Chamber of Mines of South Africa
- Semirara Mining Corp, Philippines
- Ministry of Finance - Indonesia
- Bukit Baiduri Energy - Indonesia
- IHS Mccloskey Coal Group - USA
- Uttam Galva Steels Limited - India
- Siam City Cement - Thailand
- Coalindo Energy - Indonesia
- Latin American Coal - Colombia
- SMG Consultants - Indonesia
- Australian Coal Association
- Marubeni Corporation - India
- Goldman Sachs - Singapore
- The Treasury - Australian Government
- AsiaOL BioFuels Corp., Philippines
- Kideco Jaya Agung - Indonesia
- Africa Commodities Group - South Africa
- Economic Council, Georgia
- Parry Sugars Refinery, India
- Indian Oil Corporation Limited
- Interocean Group of Companies - India
- Thiess Contractors Indonesia
- Ind-Barath Power Infra Limited - India
- Independent Power Producers Association of India
- Baramulti Group, Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- White Energy Company Limited
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