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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, 30 October 12
NEW BUILDING ORDERING ACTIVITY KEEPS ON RETREATING - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Ship owners have refrained from placing any new orders of vessels during the course of the past few days, according to shipbroker reports. According ...
Monday, 29 October 12
US COAL EXPORTS ARE EXPECTED TO REACH 125 MILLION TONS THIS YEAR - EIA
COALspot.com - US coal exports are expected to reach 125 million tons this year, surpassing the old record of about 113 million tons set in 1981, sa ...
Sunday, 28 October 12
SUB-BIT INDONESIA COAL SWAPS (FOB ) FOR DECEMBER 2012 DELIVERY STAYED FLAT D-D
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) for December 2012 delivery flat on D-D but gained 0.38 percent on W-W on Friday, 26 October 2012, ...
Sunday, 28 October 12
INDONESIA TO INDIA SUPRAMAX FREIGHT MARKET FAIRLY STEADY - VISTAAR
COALspot.com - The Cape size sector continued to remain active with iron ore movement being steady. All other sectors were down.
The BDI was up b ...
Friday, 26 October 12
SHIPPING MARKETS HEADING FOR DIVISION AND MULTI-TIER WILL BECOME THE NORM - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
It seems that something is expected to be fundamentally different in the way that the shipping markets will be operating in the future, according to ...
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- Globalindo Alam Lestari - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Trasteel International SA, Italy
- Antam Resourcindo - Indonesia
- Goldman Sachs - Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Bhushan Steel Limited - India
- Sree Jayajothi Cements Limited - India
- Uttam Galva Steels Limited - India
- Petron Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Meenaskhi Energy Private Limited - India
- McConnell Dowell - Australia
- GMR Energy Limited - India
- Toyota Tsusho Corporation, Japan
- SN Aboitiz Power Inc, Philippines
- Sakthi Sugars Limited - India
- Indian Oil Corporation Limited
- Jaiprakash Power Ventures ltd
- The State Trading Corporation of India Ltd
- SMG Consultants - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Deloitte Consulting - India
- Mjunction Services Limited - India
- Altura Mining Limited, Indonesia
- MS Steel International - UAE
- Therma Luzon, Inc, Philippines
- Bulk Trading Sa - Switzerland
- Carbofer General Trading SA - India
- IEA Clean Coal Centre - UK
- CNBM International Corporation - China
- Pipit Mutiara Jaya. PT, Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sarangani Energy Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ministry of Transport, Egypt
- Chettinad Cement Corporation Ltd - India
- PTC India Limited - India
- GAC Shipping (India) Pvt Ltd
- Cigading International Bulk Terminal - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Barasentosa Lestari - Indonesia
- Sojitz Corporation - Japan
- Kalimantan Lumbung Energi - Indonesia
- Samtan Co., Ltd - South Korea
- Edison Trading Spa - Italy
- Salva Resources Pvt Ltd - India
- Medco Energi Mining Internasional
- Banpu Public Company Limited - Thailand
- New Zealand Coal & Carbon
- Kartika Selabumi Mining - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Directorate Of Revenue Intelligence - India
- Billiton Holdings Pty Ltd - Australia
- Ceylon Electricity Board - Sri Lanka
- Iligan Light & Power Inc, Philippines
- South Luzon Thermal Energy Corporation
- Straits Asia Resources Limited - Singapore
- Bayan Resources Tbk. - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bhatia International Limited - India
- Indian Energy Exchange, India
- GN Power Mariveles Coal Plant, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Latin American Coal - Colombia
- Electricity Generating Authority of Thailand
- Pendopo Energi Batubara - Indonesia
- Thiess Contractors Indonesia
- IHS Mccloskey Coal Group - USA
- Mintek Dendrill Indonesia
- Binh Thuan Hamico - Vietnam
- Ministry of Mines - Canada
- Grasim Industreis Ltd - India
- Timah Investasi Mineral - Indoneisa
- Ambuja Cements Ltd - India
- Bharathi Cement Corporation - India
- ICICI Bank Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Global Business Power Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- The University of Queensland
- Bhoruka Overseas - Indonesia
- TeaM Sual Corporation - Philippines
- Gujarat Electricity Regulatory Commission - India
- Marubeni Corporation - India
- Petrochimia International Co. Ltd.- Taiwan
- Madhucon Powers Ltd - India
- Mercuria Energy - Indonesia
- Makarim & Taira - Indonesia
- Mercator Lines Limited - India
- Parliament of New Zealand
- Tata Chemicals Ltd - India
- Aboitiz Power Corporation - Philippines
- Eastern Energy - Thailand
- Independent Power Producers Association of India
- GVK Power & Infra Limited - India
- Coastal Gujarat Power Limited - India
- Semirara Mining Corp, Philippines
- Alfred C Toepfer International GmbH - Germany
- Planning Commission, India
- Thai Mozambique Logistica
- CIMB Investment Bank - Malaysia
- Anglo American - United Kingdom
- Indika Energy - Indonesia
- Xindia Steels Limited - India
- Aditya Birla Group - India
- The Treasury - Australian Government
- International Coal Ventures Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Economic Council, Georgia
- PNOC Exploration Corporation - Philippines
- Orica Australia Pty. Ltd.
- Orica Mining Services - Indonesia
- Cement Manufacturers Association - India
- Sinarmas Energy and Mining - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Directorate General of MIneral and Coal - Indonesia
- Kepco SPC Power Corporation, Philippines
- Interocean Group of Companies - India
- London Commodity Brokers - England
- Attock Cement Pakistan Limited
- Central Java Power - Indonesia
- PowerSource Philippines DevCo
- Miang Besar Coal Terminal - Indonesia
- White Energy Company Limited
- Lanco Infratech Ltd - India
- Intertek Mineral Services - Indonesia
- Georgia Ports Authority, United States
- Vedanta Resources Plc - India
- Singapore Mercantile Exchange
- Romanian Commodities Exchange
- Rashtriya Ispat Nigam Limited - India
- Global Coal Blending Company Limited - Australia
- Malabar Cements Ltd - India
- Eastern Coal Council - USA
- Leighton Contractors Pty Ltd - Australia
- Coal and Oil Company - UAE
- Wood Mackenzie - Singapore
- Parry Sugars Refinery, India
- Kobexindo Tractors - Indoneisa
- Ministry of Finance - Indonesia
- Gujarat Sidhee Cement - India
- Vijayanagar Sugar Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- Africa Commodities Group - South Africa
- Indo Tambangraya Megah - Indonesia
- European Bulk Services B.V. - Netherlands
- Kaltim Prima Coal - Indonesia
- Oldendorff Carriers - Singapore
- Minerals Council of Australia
- Kumho Petrochemical, South Korea
- Baramulti Group, Indonesia
- Central Electricity Authority - India
- Gujarat Mineral Development Corp Ltd - India
- Bangladesh Power Developement Board
- Price Waterhouse Coopers - Russia
- Simpson Spence & Young - Indonesia
- Australian Coal Association
- Indogreen Group - Indonesia
- Posco Energy - South Korea
- Merrill Lynch Commodities Europe
- ASAPP Information Group - India
- Riau Bara Harum - Indonesia
- Energy Link Ltd, New Zealand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- TNB Fuel Sdn Bhd - Malaysia
- Sindya Power Generating Company Private Ltd
- Siam City Cement PLC, Thailand
- Star Paper Mills Limited - India
- Borneo Indobara - Indonesia
- Formosa Plastics Group - Taiwan
- Kapuas Tunggal Persada - Indonesia
- Electricity Authority, New Zealand
- Semirara Mining and Power Corporation, Philippines
- Chamber of Mines of South Africa
- Maheswari Brothers Coal Limited - India
- Indonesian Coal Mining Association
- Manunggal Multi Energi - Indonesia
- Bukit Baiduri Energy - Indonesia
- Jindal Steel & Power Ltd - India
- Heidelberg Cement - Germany
- Bukit Makmur.PT - Indonesia
- Port Waratah Coal Services - Australia
- Wilmar Investment Holdings
- AsiaOL BioFuels Corp., Philippines
- Metalloyd Limited - United Kingdom
- Agrawal Coal Company - India
- Sical Logistics Limited - India
- LBH Netherlands Bv - Netherlands
- Rio Tinto Coal - Australia
- Commonwealth Bank - Australia
- Essar Steel Hazira Ltd - India
- Siam City Cement - Thailand
- Standard Chartered Bank - UAE
- SMC Global Power, Philippines
- Global Green Power PLC Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- India Bulls Power Limited - India
- OPG Power Generation Pvt Ltd - India
- Larsen & Toubro Limited - India
- Holcim Trading Pte Ltd - Singapore
- Power Finance Corporation Ltd., India
- Energy Development Corp, Philippines
- San Jose City I Power Corp, Philippines
- Australian Commodity Traders Exchange
- Dalmia Cement Bharat India
- Videocon Industries ltd - India
- Kideco Jaya Agung - Indonesia
- Coalindo Energy - Indonesia
- VISA Power Limited - India
- Vizag Seaport Private Limited - India
- Tamil Nadu electricity Board
- Renaissance Capital - South Africa
- Ind-Barath Power Infra Limited - India
- Meralco Power Generation, Philippines
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