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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, 16 October 12
DRY BULK FREIGHT RATES COULD IMPROVE ON CHINESE STIMULUS AND WINTER CARGO DEMAND SAYS BIMCO - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
BIMCO has given out its forecast for the next six weeks, in terms of freight rates for dry bulk carriers. According to them, Capesize TC Average rat ...
Monday, 15 October 12
IT'S STRICTLY COME CHARTERING - CLARKSON RESEARCH SERVICES
The charter market is a bit of a dance between ship owner and charterer: one leader, one follower; one step, two steps, turn... The dance is symbiot ...
Sunday, 14 October 12
SUB-BIT INDONESIA COAL AND CFR SOUTH CHINA COAL SWAPS: SOFT
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) for December 2012 delivery lost 0.329 percent w- w but gained 0.248 percent d-d on Friday, 12 Oct ...
Sunday, 14 October 12
SUPRAMAX FREIGHT STEADY: PANAMAX FREIGHTS FIRM - VISTAAR
COALspot.com - The shipping market saw some hectic activity in the Cape and panamax sector and quite a lot of fixtures reported.
The BDI was up b ...
Friday, 12 October 12
HOW REAL IS THE THREAT OF PIRACY? - BIMCO
The threat of modern piracy remains serious, regardless of its seasonal variations and the fact that it is chiefly confined to the Indian Ocean, Gul ...
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- SMC Global Power, Philippines
- Sarangani Energy Corporation, Philippines
- Commonwealth Bank - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Heidelberg Cement - Germany
- Central Java Power - Indonesia
- Sindya Power Generating Company Private Ltd
- Goldman Sachs - Singapore
- Coal and Oil Company - UAE
- Banpu Public Company Limited - Thailand
- Independent Power Producers Association of India
- Kepco SPC Power Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Bukit Makmur.PT - Indonesia
- Agrawal Coal Company - India
- Jorong Barutama Greston.PT - Indonesia
- Essar Steel Hazira Ltd - India
- PTC India Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- Edison Trading Spa - Italy
- VISA Power Limited - India
- Bhushan Steel Limited - India
- TeaM Sual Corporation - Philippines
- Bulk Trading Sa - Switzerland
- Trasteel International SA, Italy
- Madhucon Powers Ltd - India
- Riau Bara Harum - Indonesia
- Malabar Cements Ltd - India
- Parliament of New Zealand
- Directorate Of Revenue Intelligence - India
- Singapore Mercantile Exchange
- Sojitz Corporation - Japan
- Straits Asia Resources Limited - Singapore
- Bayan Resources Tbk. - Indonesia
- Wilmar Investment Holdings
- Indian Energy Exchange, India
- Bangladesh Power Developement Board
- Dalmia Cement Bharat India
- Maharashtra Electricity Regulatory Commission - India
- Kobexindo Tractors - Indoneisa
- ICICI Bank Limited - India
- CNBM International Corporation - China
- Australian Commodity Traders Exchange
- Bharathi Cement Corporation - India
- Makarim & Taira - Indonesia
- Energy Link Ltd, New Zealand
- Pipit Mutiara Jaya. PT, Indonesia
- Siam City Cement PLC, Thailand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Ceylon Electricity Board - Sri Lanka
- Orica Mining Services - Indonesia
- Iligan Light & Power Inc, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- Rashtriya Ispat Nigam Limited - India
- Chettinad Cement Corporation Ltd - India
- Mercuria Energy - Indonesia
- Standard Chartered Bank - UAE
- Bukit Baiduri Energy - Indonesia
- LBH Netherlands Bv - Netherlands
- ASAPP Information Group - India
- Medco Energi Mining Internasional
- Sree Jayajothi Cements Limited - India
- Romanian Commodities Exchange
- Formosa Plastics Group - Taiwan
- Salva Resources Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Ind-Barath Power Infra Limited - India
- Xindia Steels Limited - India
- Vedanta Resources Plc - India
- Siam City Cement - Thailand
- IHS Mccloskey Coal Group - USA
- Coalindo Energy - Indonesia
- Thai Mozambique Logistica
- Gujarat Sidhee Cement - India
- Power Finance Corporation Ltd., India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Australian Coal Association
- Economic Council, Georgia
- Wood Mackenzie - Singapore
- Karbindo Abesyapradhi - Indoneisa
- Marubeni Corporation - India
- Gujarat Electricity Regulatory Commission - India
- Globalindo Alam Lestari - Indonesia
- Mercator Lines Limited - India
- Posco Energy - South Korea
- Africa Commodities Group - South Africa
- Baramulti Group, Indonesia
- New Zealand Coal & Carbon
- Meralco Power Generation, Philippines
- Global Green Power PLC Corporation, Philippines
- Intertek Mineral Services - Indonesia
- Kapuas Tunggal Persada - Indonesia
- The Treasury - Australian Government
- Directorate General of MIneral and Coal - Indonesia
- GAC Shipping (India) Pvt Ltd
- Georgia Ports Authority, United States
- South Luzon Thermal Energy Corporation
- Eastern Coal Council - USA
- Ministry of Mines - Canada
- Kaltim Prima Coal - Indonesia
- Larsen & Toubro Limited - India
- Ministry of Transport, Egypt
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ministry of Finance - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bahari Cakrawala Sebuku - Indonesia
- European Bulk Services B.V. - Netherlands
- Indogreen Group - Indonesia
- Interocean Group of Companies - India
- Global Business Power Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- India Bulls Power Limited - India
- Grasim Industreis Ltd - India
- Metalloyd Limited - United Kingdom
- GMR Energy Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Renaissance Capital - South Africa
- Aboitiz Power Corporation - Philippines
- Electricity Authority, New Zealand
- San Jose City I Power Corp, Philippines
- Semirara Mining Corp, Philippines
- Krishnapatnam Port Company Ltd. - India
- Uttam Galva Steels Limited - India
- Borneo Indobara - Indonesia
- Price Waterhouse Coopers - Russia
- The State Trading Corporation of India Ltd
- Gujarat Mineral Development Corp Ltd - India
- OPG Power Generation Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Anglo American - United Kingdom
- Parry Sugars Refinery, India
- Samtan Co., Ltd - South Korea
- IEA Clean Coal Centre - UK
- McConnell Dowell - Australia
- Deloitte Consulting - India
- Electricity Generating Authority of Thailand
- Indonesian Coal Mining Association
- Barasentosa Lestari - Indonesia
- Timah Investasi Mineral - Indoneisa
- Kartika Selabumi Mining - Indonesia
- Aditya Birla Group - India
- Bhatia International Limited - India
- Oldendorff Carriers - Singapore
- Jindal Steel & Power Ltd - India
- PowerSource Philippines DevCo
- Indian Oil Corporation Limited
- SN Aboitiz Power Inc, Philippines
- Indika Energy - Indonesia
- Thiess Contractors Indonesia
- Cigading International Bulk Terminal - Indonesia
- Eastern Energy - Thailand
- Lanco Infratech Ltd - India
- PNOC Exploration Corporation - Philippines
- PetroVietnam Power Coal Import and Supply Company
- Latin American Coal - Colombia
- Karaikal Port Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Kumho Petrochemical, South Korea
- Meenaskhi Energy Private Limited - India
- GVK Power & Infra Limited - India
- Attock Cement Pakistan Limited
- Kideco Jaya Agung - Indonesia
- Star Paper Mills Limited - India
- Carbofer General Trading SA - India
- Kohat Cement Company Ltd. - Pakistan
- Miang Besar Coal Terminal - Indonesia
- The University of Queensland
- SMG Consultants - Indonesia
- Central Electricity Authority - India
- CIMB Investment Bank - Malaysia
- Videocon Industries ltd - India
- Sakthi Sugars Limited - India
- Binh Thuan Hamico - Vietnam
- Antam Resourcindo - Indonesia
- Bhoruka Overseas - Indonesia
- Chamber of Mines of South Africa
- Tata Chemicals Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Tamil Nadu electricity Board
- Minerals Council of Australia
- MS Steel International - UAE
- Rio Tinto Coal - Australia
- Global Coal Blending Company Limited - Australia
- Toyota Tsusho Corporation, Japan
- Billiton Holdings Pty Ltd - Australia
- Holcim Trading Pte Ltd - Singapore
- Merrill Lynch Commodities Europe
- Cement Manufacturers Association - India
- Pendopo Energi Batubara - Indonesia
- Maheswari Brothers Coal Limited - India
- White Energy Company Limited
- Petron Corporation, Philippines
- Semirara Mining and Power Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- Port Waratah Coal Services - Australia
- Simpson Spence & Young - Indonesia
- Altura Mining Limited, Indonesia
- Mjunction Services Limited - India
- Mintek Dendrill Indonesia
- Vizag Seaport Private Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Jaiprakash Power Ventures ltd
- Sical Logistics Limited - India
- Energy Development Corp, Philippines
- Planning Commission, India
- Ambuja Cements Ltd - India
- Orica Australia Pty. Ltd.
- Sinarmas Energy and Mining - Indonesia
- London Commodity Brokers - England
- Coastal Gujarat Power Limited - India
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