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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, 12 October 12
INVESTMENT OPPORTUNITIES OCCUR IN THE SECOND HAND VESSEL MARKETS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Although 2012 has by now evolved into one of the most challenging years for global shipping industry, ship owners are scouting the second hand ship ...
Thursday, 11 October 12
SINGAPORE BASED COAL SOURCE AND SHIPPING BAGS 300K MT IMPORTED COAL SUPPLY CONTRACT FROM TNPL
COALspot.com - India-based paper manufacturer Tamil Nadu Newsprint and Papers Limited has awarded a tender for 300,000 mt of imported steam co ...
Thursday, 11 October 12
PANAMAX : SINCE LAST WEEK RATES HAS FIRMED FOR ALL TRADES - FEARNLEYS AS
Handy
The Atlantic market remains quiet due to lack of cargoes and more supply of ships. Rates from Continent to East Med were around USD 14k and B ...
Thursday, 11 October 12
DRY BULK MARKET STEADY AFTER CHINESE HOLIDAYS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The dry bulk market hasn't yet staged a solid rebound after last week's holidays in China, as many would have expected. Indeed, many analysts were ...
Wednesday, 10 October 12
NEW BUILDING MARKET ON A QUIET WEEK, DUE TO ASIAN HOLIDAYS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The newbuilding ordering activity has been more than quite during the course of the past week, as a result of holidays in both Korea and China. Acco ...
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- Romanian Commodities Exchange
- CIMB Investment Bank - Malaysia
- Aboitiz Power Corporation - Philippines
- OPG Power Generation Pvt Ltd - India
- Thiess Contractors Indonesia
- Therma Luzon, Inc, Philippines
- Global Business Power Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- The University of Queensland
- Lanco Infratech Ltd - India
- Latin American Coal - Colombia
- Edison Trading Spa - Italy
- Price Waterhouse Coopers - Russia
- Wilmar Investment Holdings
- Trasteel International SA, Italy
- Directorate General of MIneral and Coal - Indonesia
- Kapuas Tunggal Persada - Indonesia
- MS Steel International - UAE
- Goldman Sachs - Singapore
- Minerals Council of Australia
- Coastal Gujarat Power Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Kobexindo Tractors - Indoneisa
- Pipit Mutiara Jaya. PT, Indonesia
- Billiton Holdings Pty Ltd - Australia
- Leighton Contractors Pty Ltd - Australia
- Ministry of Transport, Egypt
- Baramulti Group, Indonesia
- Central Electricity Authority - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- Madhucon Powers Ltd - India
- Oldendorff Carriers - Singapore
- Global Green Power PLC Corporation, Philippines
- GMR Energy Limited - India
- Parry Sugars Refinery, India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Independent Power Producers Association of India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Meralco Power Generation, Philippines
- Grasim Industreis Ltd - India
- Indian Oil Corporation Limited
- Sindya Power Generating Company Private Ltd
- Eastern Energy - Thailand
- Indonesian Coal Mining Association
- Renaissance Capital - South Africa
- Bangladesh Power Developement Board
- Interocean Group of Companies - India
- Ambuja Cements Ltd - India
- Energy Development Corp, Philippines
- Savvy Resources Ltd - HongKong
- Indogreen Group - Indonesia
- Carbofer General Trading SA - India
- Economic Council, Georgia
- Sarangani Energy Corporation, Philippines
- IEA Clean Coal Centre - UK
- Ceylon Electricity Board - Sri Lanka
- Iligan Light & Power Inc, Philippines
- LBH Netherlands Bv - Netherlands
- Riau Bara Harum - Indonesia
- SMG Consultants - Indonesia
- Heidelberg Cement - Germany
- Power Finance Corporation Ltd., India
- Rashtriya Ispat Nigam Limited - India
- Maheswari Brothers Coal Limited - India
- Chamber of Mines of South Africa
- Eastern Coal Council - USA
- Simpson Spence & Young - Indonesia
- PowerSource Philippines DevCo
- SN Aboitiz Power Inc, Philippines
- Timah Investasi Mineral - Indoneisa
- Siam City Cement - Thailand
- Formosa Plastics Group - Taiwan
- Bank of Tokyo Mitsubishi UFJ Ltd
- Miang Besar Coal Terminal - Indonesia
- Bhushan Steel Limited - India
- Krishnapatnam Port Company Ltd. - India
- Coal and Oil Company - UAE
- Kumho Petrochemical, South Korea
- Globalindo Alam Lestari - Indonesia
- Agrawal Coal Company - India
- Deloitte Consulting - India
- Wood Mackenzie - Singapore
- Australian Coal Association
- Star Paper Mills Limited - India
- Ind-Barath Power Infra Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Coalindo Energy - Indonesia
- South Luzon Thermal Energy Corporation
- Jindal Steel & Power Ltd - India
- Kaltim Prima Coal - Indonesia
- Samtan Co., Ltd - South Korea
- Larsen & Toubro Limited - India
- Singapore Mercantile Exchange
- Parliament of New Zealand
- Australian Commodity Traders Exchange
- Sical Logistics Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Mercuria Energy - Indonesia
- Bhoruka Overseas - Indonesia
- Bayan Resources Tbk. - Indonesia
- Georgia Ports Authority, United States
- Orica Australia Pty. Ltd.
- Kideco Jaya Agung - Indonesia
- Vedanta Resources Plc - India
- AsiaOL BioFuels Corp., Philippines
- Makarim & Taira - Indonesia
- ICICI Bank Limited - India
- Manunggal Multi Energi - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- VISA Power Limited - India
- Sojitz Corporation - Japan
- Karbindo Abesyapradhi - Indoneisa
- Toyota Tsusho Corporation, Japan
- The State Trading Corporation of India Ltd
- Antam Resourcindo - Indonesia
- New Zealand Coal & Carbon
- Intertek Mineral Services - Indonesia
- GAC Shipping (India) Pvt Ltd
- The Treasury - Australian Government
- Aditya Birla Group - India
- Bulk Trading Sa - Switzerland
- Global Coal Blending Company Limited - Australia
- Gujarat Electricity Regulatory Commission - India
- Indo Tambangraya Megah - Indonesia
- Gujarat Sidhee Cement - India
- McConnell Dowell - Australia
- Mjunction Services Limited - India
- Central Java Power - Indonesia
- Medco Energi Mining Internasional
- Ministry of Finance - Indonesia
- Indian Energy Exchange, India
- CNBM International Corporation - China
- Alfred C Toepfer International GmbH - Germany
- Videocon Industries ltd - India
- Africa Commodities Group - South Africa
- Pendopo Energi Batubara - Indonesia
- GVK Power & Infra Limited - India
- Xindia Steels Limited - India
- India Bulls Power Limited - India
- Ministry of Mines - Canada
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Semirara Mining and Power Corporation, Philippines
- Tamil Nadu electricity Board
- Malabar Cements Ltd - India
- Marubeni Corporation - India
- Dalmia Cement Bharat India
- Barasentosa Lestari - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Tata Chemicals Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Sree Jayajothi Cements Limited - India
- SMC Global Power, Philippines
- London Commodity Brokers - England
- Uttam Galva Steels Limited - India
- International Coal Ventures Pvt Ltd - India
- Commonwealth Bank - Australia
- Chettinad Cement Corporation Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Asmin Koalindo Tuhup - Indonesia
- Cement Manufacturers Association - India
- Maharashtra Electricity Regulatory Commission - India
- Planning Commission, India
- Essar Steel Hazira Ltd - India
- Orica Mining Services - Indonesia
- Energy Link Ltd, New Zealand
- Altura Mining Limited, Indonesia
- Holcim Trading Pte Ltd - Singapore
- Semirara Mining Corp, Philippines
- Siam City Cement PLC, Thailand
- Bharathi Cement Corporation - India
- Bhatia International Limited - India
- Borneo Indobara - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Vijayanagar Sugar Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- Posco Energy - South Korea
- Kalimantan Lumbung Energi - Indonesia
- Straits Asia Resources Limited - Singapore
- Port Waratah Coal Services - Australia
- Mintek Dendrill Indonesia
- Electricity Generating Authority of Thailand
- Bukit Makmur.PT - Indonesia
- Petron Corporation, Philippines
- White Energy Company Limited
- Meenaskhi Energy Private Limited - India
- Standard Chartered Bank - UAE
- Electricity Authority, New Zealand
- TNB Fuel Sdn Bhd - Malaysia
- Gujarat Mineral Development Corp Ltd - India
- Directorate Of Revenue Intelligence - India
- Indika Energy - Indonesia
- IHS Mccloskey Coal Group - USA
- Mercator Lines Limited - India
- Anglo American - United Kingdom
- Rio Tinto Coal - Australia
- Bukit Baiduri Energy - Indonesia
- Vizag Seaport Private Limited - India
- Binh Thuan Hamico - Vietnam
- San Jose City I Power Corp, Philippines
- Attock Cement Pakistan Limited
- ASAPP Information Group - India
- Banpu Public Company Limited - Thailand
- TeaM Sual Corporation - Philippines
- Thai Mozambique Logistica
- Salva Resources Pvt Ltd - India
- Karaikal Port Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- PTC India Limited - India
- Sakthi Sugars Limited - India
- PNOC Exploration Corporation - Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- European Bulk Services B.V. - Netherlands
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Metalloyd Limited - United Kingdom
- Merrill Lynch Commodities Europe
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