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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, 26 October 12
DRY BULK MARKET FALLS ON WORRIES THAT RECENT RALLY WILL BE SHORTLIVED - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The dry bulk market retreated yesterday as a result of a plunge of the Capesize dry bulk carriers' segment, after their latest rally. As a result, ...
Tuesday, 23 October 12
INDONESIA SETS DMO FOR NEXT YEAR
COALspot.com - The Indonesian government has declared the quantity of coal to be supplied to domestic market in 2013 recently under DMO regulation. ...
Sunday, 21 October 12
BUMA HAS PRODUCED 25.0 MILLION TONS OF COAL YEAR TO DATE
COALspot.com - PT Delta Dunia Makmur Tbk., has removed 33.2 million bcm* (+5.5% YoY) of Overburden in September 2012 totaled while coal produc ...
Saturday, 20 October 12
SUPRAMAX FREIGHT EXPECTED TO BE FLAT - VISTAAR
COALspot.com - The shipping market continued to be quite active with quite lot of cargoes fixed for in the cape and panamax sector.
The BDI was ...
Thursday, 18 October 12
INDO-INDIA, LARGE ECO SUPRA FIXED AT USD 11000 - FEARNLEYS AS
Handy
Atlantic market remains quiet due to lack of cargoes and more supply of ships. Rates from Cont to East Med were around USD 14k and Black Sea ...
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- Bulk Trading Sa - Switzerland
- Kartika Selabumi Mining - Indonesia
- Parliament of New Zealand
- Wilmar Investment Holdings
- Indika Energy - Indonesia
- Central Electricity Authority - India
- Marubeni Corporation - India
- Coalindo Energy - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Anglo American - United Kingdom
- Mercator Lines Limited - India
- Metalloyd Limited - United Kingdom
- Essar Steel Hazira Ltd - India
- Therma Luzon, Inc, Philippines
- Cigading International Bulk Terminal - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Eastern Energy - Thailand
- Vijayanagar Sugar Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- Karaikal Port Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- White Energy Company Limited
- SMG Consultants - Indonesia
- Thai Mozambique Logistica
- Timah Investasi Mineral - Indoneisa
- Gujarat Sidhee Cement - India
- SMC Global Power, Philippines
- Bhoruka Overseas - Indonesia
- Coastal Gujarat Power Limited - India
- Formosa Plastics Group - Taiwan
- Energy Link Ltd, New Zealand
- Sree Jayajothi Cements Limited - India
- Bangladesh Power Developement Board
- Wood Mackenzie - Singapore
- TNB Fuel Sdn Bhd - Malaysia
- Straits Asia Resources Limited - Singapore
- Indonesian Coal Mining Association
- Attock Cement Pakistan Limited
- Kohat Cement Company Ltd. - Pakistan
- CNBM International Corporation - China
- Antam Resourcindo - Indonesia
- Central Java Power - Indonesia
- Vizag Seaport Private Limited - India
- Singapore Mercantile Exchange
- Africa Commodities Group - South Africa
- Neyveli Lignite Corporation Ltd, - India
- Electricity Generating Authority of Thailand
- Price Waterhouse Coopers - Russia
- Chamber of Mines of South Africa
- Kepco SPC Power Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Commonwealth Bank - Australia
- Ceylon Electricity Board - Sri Lanka
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ministry of Finance - Indonesia
- Directorate Of Revenue Intelligence - India
- Trasteel International SA, Italy
- Kideco Jaya Agung - Indonesia
- Deloitte Consulting - India
- Port Waratah Coal Services - Australia
- Economic Council, Georgia
- Petrochimia International Co. Ltd.- Taiwan
- Global Coal Blending Company Limited - Australia
- Alfred C Toepfer International GmbH - Germany
- Planning Commission, India
- Baramulti Group, Indonesia
- Savvy Resources Ltd - HongKong
- Independent Power Producers Association of India
- LBH Netherlands Bv - Netherlands
- Indogreen Group - Indonesia
- Heidelberg Cement - Germany
- Australian Coal Association
- Indian Energy Exchange, India
- PowerSource Philippines DevCo
- Samtan Co., Ltd - South Korea
- PTC India Limited - India
- IHS Mccloskey Coal Group - USA
- South Luzon Thermal Energy Corporation
- Simpson Spence & Young - Indonesia
- Miang Besar Coal Terminal - Indonesia
- SN Aboitiz Power Inc, Philippines
- Borneo Indobara - Indonesia
- European Bulk Services B.V. - Netherlands
- VISA Power Limited - India
- GVK Power & Infra Limited - India
- PNOC Exploration Corporation - Philippines
- Bhatia International Limited - India
- Riau Bara Harum - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Mercuria Energy - Indonesia
- Vedanta Resources Plc - India
- Aboitiz Power Corporation - Philippines
- Mjunction Services Limited - India
- Aditya Birla Group - India
- The University of Queensland
- CIMB Investment Bank - Malaysia
- Siam City Cement - Thailand
- Xindia Steels Limited - India
- Oldendorff Carriers - Singapore
- McConnell Dowell - Australia
- Globalindo Alam Lestari - Indonesia
- Jindal Steel & Power Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Meenaskhi Energy Private Limited - India
- Manunggal Multi Energi - Indonesia
- Kobexindo Tractors - Indoneisa
- Altura Mining Limited, Indonesia
- Uttam Galva Steels Limited - India
- Power Finance Corporation Ltd., India
- Parry Sugars Refinery, India
- Holcim Trading Pte Ltd - Singapore
- Banpu Public Company Limited - Thailand
- Videocon Industries ltd - India
- Makarim & Taira - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Georgia Ports Authority, United States
- GMR Energy Limited - India
- Sical Logistics Limited - India
- Leighton Contractors Pty Ltd - Australia
- Iligan Light & Power Inc, Philippines
- Semirara Mining Corp, Philippines
- Siam City Cement PLC, Thailand
- Lanco Infratech Ltd - India
- Orica Mining Services - Indonesia
- Ind-Barath Power Infra Limited - India
- Salva Resources Pvt Ltd - India
- Bharathi Cement Corporation - India
- Madhucon Powers Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Malabar Cements Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Romanian Commodities Exchange
- Meralco Power Generation, Philippines
- Indian Oil Corporation Limited
- Global Business Power Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Sindya Power Generating Company Private Ltd
- Cement Manufacturers Association - India
- Global Green Power PLC Corporation, Philippines
- Petron Corporation, Philippines
- Electricity Authority, New Zealand
- The Treasury - Australian Government
- San Jose City I Power Corp, Philippines
- Tata Chemicals Ltd - India
- Bhushan Steel Limited - India
- Orica Australia Pty. Ltd.
- Sojitz Corporation - Japan
- Asmin Koalindo Tuhup - Indonesia
- Posco Energy - South Korea
- Sarangani Energy Corporation, Philippines
- Renaissance Capital - South Africa
- Kalimantan Lumbung Energi - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Jaiprakash Power Ventures ltd
- Medco Energi Mining Internasional
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- GAC Shipping (India) Pvt Ltd
- Star Paper Mills Limited - India
- London Commodity Brokers - England
- Edison Trading Spa - Italy
- Grasim Industreis Ltd - India
- India Bulls Power Limited - India
- Tamil Nadu electricity Board
- Bukit Baiduri Energy - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Minerals Council of Australia
- Chettinad Cement Corporation Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Merrill Lynch Commodities Europe
- Standard Chartered Bank - UAE
- TeaM Sual Corporation - Philippines
- Interocean Group of Companies - India
- IEA Clean Coal Centre - UK
- Krishnapatnam Port Company Ltd. - India
- Ministry of Mines - Canada
- Energy Development Corp, Philippines
- OPG Power Generation Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- International Coal Ventures Pvt Ltd - India
- ICICI Bank Limited - India
- Mintek Dendrill Indonesia
- MS Steel International - UAE
- Thiess Contractors Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Binh Thuan Hamico - Vietnam
- Ambuja Cements Ltd - India
- Coal and Oil Company - UAE
- Toyota Tsusho Corporation, Japan
- Karbindo Abesyapradhi - Indoneisa
- Kumho Petrochemical, South Korea
- Kaltim Prima Coal - Indonesia
- Rio Tinto Coal - Australia
- Agrawal Coal Company - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- New Zealand Coal & Carbon
- Goldman Sachs - Singapore
- Bukit Makmur.PT - Indonesia
- Barasentosa Lestari - Indonesia
- Sakthi Sugars Limited - India
- Ministry of Transport, Egypt
- Sinarmas Energy and Mining - Indonesia
- Indo Tambangraya Megah - Indonesia
- Eastern Coal Council - USA
- Bank of Tokyo Mitsubishi UFJ Ltd
- ASAPP Information Group - India
- Dalmia Cement Bharat India
- Pendopo Energi Batubara - Indonesia
- Larsen & Toubro Limited - India
- Maheswari Brothers Coal Limited - India
- Intertek Mineral Services - Indonesia
- The State Trading Corporation of India Ltd
- Maharashtra Electricity Regulatory Commission - India
- Carbofer General Trading SA - India
- Latin American Coal - Colombia
- Australian Commodity Traders Exchange
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