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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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Thursday, 01 November 12
SOUTH KOREAN POWER UTILITY EWP TO PURCHASE 670,000 MT OF COAL FOR JAN - FEB 2013 DELIVERY
COALspot.com: Korea East-West Power Co. Ltd. on behalf of Korea South-East Power Co. Ltd., Korea Southern Power Co. Ltd., Korea Midland Power Co. Lt ...
Thursday, 01 November 12
KOMIPO LOOKING FOR 440,000 MT OF 4600 KCAL/KG NAR COAL FOR BORYEONG POWER PLANT
COALspot.com - Korea Midland Power Co. Ltd.(KOMIPO) is inviting bids from coal producers, marketing companies or traders to supply of 440,000 Metric ...
Thursday, 01 November 12
CAPESIZE RATES FALL, DRY BULK MARKET RETREATS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
It was another lackluster session yesterday in the dry bulk markets, with the industry's benchmark, the BDI (Baltic Dry Index) retreating by 1.63 p ...
Thursday, 01 November 12
HANDY : WCI-CHINA RATES ARE AT AROUND USD 5,000 AND ECI-CHINA AROUND USD 4000 - FEARNLEYS AS
Handy
The Atlantic market remains quiet due to a lack of cargoes and an increased supply of ships. Rates from the Continent to east Med were around ...
Tuesday, 30 October 12
COAL PRODUCTION TO RISE BY FIVE PERCENT IN 2013 - TEMPO INTERACTIVE
TEMPO Interactive reported that, Indonesian Coal Mining Association (APBI) chairman Bob Kamandanu has estimated that Indonesian coal production will ...
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- Merrill Lynch Commodities Europe
- Parry Sugars Refinery, India
- Chettinad Cement Corporation Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Romanian Commodities Exchange
- Thiess Contractors Indonesia
- Semirara Mining and Power Corporation, Philippines
- Africa Commodities Group - South Africa
- Heidelberg Cement - Germany
- Xindia Steels Limited - India
- Leighton Contractors Pty Ltd - Australia
- Oldendorff Carriers - Singapore
- Karbindo Abesyapradhi - Indoneisa
- Planning Commission, India
- ASAPP Information Group - India
- PNOC Exploration Corporation - Philippines
- Kalimantan Lumbung Energi - Indonesia
- Riau Bara Harum - Indonesia
- Straits Asia Resources Limited - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Siam City Cement PLC, Thailand
- Semirara Mining Corp, Philippines
- Videocon Industries ltd - India
- White Energy Company Limited
- Coal and Oil Company - UAE
- India Bulls Power Limited - India
- Agrawal Coal Company - India
- International Coal Ventures Pvt Ltd - India
- Central Electricity Authority - India
- Borneo Indobara - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Eastern Coal Council - USA
- Wilmar Investment Holdings
- Power Finance Corporation Ltd., India
- Edison Trading Spa - Italy
- TNB Fuel Sdn Bhd - Malaysia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- GVK Power & Infra Limited - India
- The University of Queensland
- San Jose City I Power Corp, Philippines
- Intertek Mineral Services - Indonesia
- Indian Oil Corporation Limited
- CNBM International Corporation - China
- Madhucon Powers Ltd - India
- Jaiprakash Power Ventures ltd
- Tamil Nadu electricity Board
- Binh Thuan Hamico - Vietnam
- VISA Power Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Kaltim Prima Coal - Indonesia
- Metalloyd Limited - United Kingdom
- IEA Clean Coal Centre - UK
- Ceylon Electricity Board - Sri Lanka
- London Commodity Brokers - England
- Kumho Petrochemical, South Korea
- Therma Luzon, Inc, Philippines
- Ministry of Finance - Indonesia
- The State Trading Corporation of India Ltd
- Australian Commodity Traders Exchange
- Electricity Generating Authority of Thailand
- Bukit Makmur.PT - Indonesia
- Global Business Power Corporation, Philippines
- Sakthi Sugars Limited - India
- Gujarat Sidhee Cement - India
- Directorate Of Revenue Intelligence - India
- Mjunction Services Limited - India
- Independent Power Producers Association of India
- Bhoruka Overseas - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Eastern Energy - Thailand
- SMG Consultants - Indonesia
- Port Waratah Coal Services - Australia
- MS Steel International - UAE
- Central Java Power - Indonesia
- Economic Council, Georgia
- Anglo American - United Kingdom
- Maheswari Brothers Coal Limited - India
- Australian Coal Association
- European Bulk Services B.V. - Netherlands
- Ind-Barath Power Infra Limited - India
- Global Green Power PLC Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Price Waterhouse Coopers - Russia
- Standard Chartered Bank - UAE
- Trasteel International SA, Italy
- Uttam Galva Steels Limited - India
- Bayan Resources Tbk. - Indonesia
- Carbofer General Trading SA - India
- Ministry of Transport, Egypt
- Simpson Spence & Young - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- TeaM Sual Corporation - Philippines
- Singapore Mercantile Exchange
- Interocean Group of Companies - India
- Krishnapatnam Port Company Ltd. - India
- Indogreen Group - Indonesia
- Malabar Cements Ltd - India
- Marubeni Corporation - India
- Energy Development Corp, Philippines
- Jindal Steel & Power Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Barasentosa Lestari - Indonesia
- Indo Tambangraya Megah - Indonesia
- Petron Corporation, Philippines
- Star Paper Mills Limited - India
- Vedanta Resources Plc - India
- Timah Investasi Mineral - Indoneisa
- Minerals Council of Australia
- Larsen & Toubro Limited - India
- Sojitz Corporation - Japan
- PowerSource Philippines DevCo
- Cement Manufacturers Association - India
- Formosa Plastics Group - Taiwan
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Savvy Resources Ltd - HongKong
- Ambuja Cements Ltd - India
- Indian Energy Exchange, India
- Antam Resourcindo - Indonesia
- Karaikal Port Pvt Ltd - India
- Electricity Authority, New Zealand
- Gujarat Mineral Development Corp Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Lanco Infratech Ltd - India
- Essar Steel Hazira Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Latin American Coal - Colombia
- Altura Mining Limited, Indonesia
- Aboitiz Power Corporation - Philippines
- Mercator Lines Limited - India
- Wood Mackenzie - Singapore
- Parliament of New Zealand
- GMR Energy Limited - India
- Bhatia International Limited - India
- Thai Mozambique Logistica
- McConnell Dowell - Australia
- Global Coal Blending Company Limited - Australia
- Toyota Tsusho Corporation, Japan
- Globalindo Alam Lestari - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Rio Tinto Coal - Australia
- Kepco SPC Power Corporation, Philippines
- Renaissance Capital - South Africa
- GN Power Mariveles Coal Plant, Philippines
- Meralco Power Generation, Philippines
- Bangladesh Power Developement Board
- Georgia Ports Authority, United States
- Siam City Cement - Thailand
- CIMB Investment Bank - Malaysia
- Posco Energy - South Korea
- Sree Jayajothi Cements Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Coastal Gujarat Power Limited - India
- Coalindo Energy - Indonesia
- Makarim & Taira - Indonesia
- Medco Energi Mining Internasional
- LBH Netherlands Bv - Netherlands
- Samtan Co., Ltd - South Korea
- Kohat Cement Company Ltd. - Pakistan
- Aditya Birla Group - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- South Luzon Thermal Energy Corporation
- Energy Link Ltd, New Zealand
- Commonwealth Bank - Australia
- Tata Chemicals Ltd - India
- Mercuria Energy - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Baramulti Group, Indonesia
- Dalmia Cement Bharat India
- Bhushan Steel Limited - India
- Mintek Dendrill Indonesia
- Pendopo Energi Batubara - Indonesia
- New Zealand Coal & Carbon
- Vizag Seaport Private Limited - India
- Bulk Trading Sa - Switzerland
- Bukit Asam (Persero) Tbk - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Orica Australia Pty. Ltd.
- Rashtriya Ispat Nigam Limited - India
- OPG Power Generation Pvt Ltd - India
- Chamber of Mines of South Africa
- Grasim Industreis Ltd - India
- Kartika Selabumi Mining - Indonesia
- Miang Besar Coal Terminal - Indonesia
- PTC India Limited - India
- Kobexindo Tractors - Indoneisa
- Bukit Baiduri Energy - Indonesia
- Goldman Sachs - Singapore
- Deloitte Consulting - India
- Kapuas Tunggal Persada - Indonesia
- Attock Cement Pakistan Limited
- Billiton Holdings Pty Ltd - Australia
- Sarangani Energy Corporation, Philippines
- Indonesian Coal Mining Association
- Kideco Jaya Agung - Indonesia
- Manunggal Multi Energi - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Sical Logistics Limited - India
- Bharathi Cement Corporation - India
- IHS Mccloskey Coal Group - USA
- Orica Mining Services - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Banpu Public Company Limited - Thailand
- Indika Energy - Indonesia
- Salva Resources Pvt Ltd - India
- Ministry of Mines - Canada
- GAC Shipping (India) Pvt Ltd
- Sindya Power Generating Company Private Ltd
- Directorate General of MIneral and Coal - Indonesia
- SMC Global Power, Philippines
- ICICI Bank Limited - India
- The Treasury - Australian Government
- Iligan Light & Power Inc, Philippines
- Meenaskhi Energy Private Limited - India
- Asmin Koalindo Tuhup - Indonesia
- SN Aboitiz Power Inc, Philippines
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