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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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Wednesday, 10 October 12
TAPPING OPPORTUNITIES WITHIN GLOBAL ECONOMIC PERSPECTIVE
Press Release: Mining sector will continue to play a significant role in supporting industrial and economic development in Indonesia which is curren ...
Tuesday, 09 October 12
REALM RESOURCES RECOMMENCES DRILLING AT KATINGAN RIA COAL PROJECT
COALspot.com : Realm Resources Ltd. (ASX) has announced that it has commenced work on the phase three technical programme at its Katingan Project in ...
Sunday, 07 October 12
INDONESIAN GOVERNMENT DECLARED HBA FELL AGAIN IN OCTOBER
COALspot.com - The Indonesian government’s declared coal reference price has lost US$ 0.17 per MT M-M.
The monthly coal referen ...
Saturday, 06 October 12
CFR SOUTH CHINA COAL SWAPS FOR DECEMBER'13 DELIVERY GAINED 1.3 PERCENT W-W
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) for December 2012 delivery gained 0.098 percent and 0.164 percent W-W and D-D respectively o ...
Saturday, 06 October 12
FREIGHT MARKET IS LIKELY TO PICK AFTER THE HOLIDAYS IN CHINA - VISTAAR
COALspot.com - The freight market appeared to be seeing some increase BDI up by 14.23 pct closing at 875 points. The Cape and Panamax index also saw ...
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- Altura Mining Limited, Indonesia
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- Asmin Koalindo Tuhup - Indonesia
- Parliament of New Zealand
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- Petrochimia International Co. Ltd.- Taiwan
- Australian Commodity Traders Exchange
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- White Energy Company Limited
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- Ind-Barath Power Infra Limited - India
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- Global Business Power Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- Electricity Generating Authority of Thailand
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- Dalmia Cement Bharat India
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- Eastern Coal Council - USA
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- Maharashtra Electricity Regulatory Commission - India
- Karbindo Abesyapradhi - Indoneisa
- Standard Chartered Bank - UAE
- Kideco Jaya Agung - Indonesia
- Australian Coal Association
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- Indonesian Coal Mining Association
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- Central Electricity Authority - India
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- Singapore Mercantile Exchange
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- Filglen & Citicon Mining (HK) Ltd - Hong Kong
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- Africa Commodities Group - South Africa
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- Goldman Sachs - Singapore
- Merrill Lynch Commodities Europe
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- Cement Manufacturers Association - India
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- Kartika Selabumi Mining - Indonesia
- Commonwealth Bank - Australia
- Meenaskhi Energy Private Limited - India
- CIMB Investment Bank - Malaysia
- Directorate General of MIneral and Coal - Indonesia
- Salva Resources Pvt Ltd - India
- Thai Mozambique Logistica
- Edison Trading Spa - Italy
- Kapuas Tunggal Persada - Indonesia
- Eastern Energy - Thailand
- Agrawal Coal Company - India
- Aditya Birla Group - India
- Oldendorff Carriers - Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
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- The University of Queensland
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- Deloitte Consulting - India
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- Ministry of Finance - Indonesia
- European Bulk Services B.V. - Netherlands
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- Simpson Spence & Young - Indonesia
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- Leighton Contractors Pty Ltd - Australia
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- Kumho Petrochemical, South Korea
- Mercator Lines Limited - India
- Semirara Mining Corp, Philippines
- PowerSource Philippines DevCo
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- Economic Council, Georgia
- Bangladesh Power Developement Board
- Savvy Resources Ltd - HongKong
- The Treasury - Australian Government
- Straits Asia Resources Limited - Singapore
- Bahari Cakrawala Sebuku - Indonesia
- MS Steel International - UAE
- Rio Tinto Coal - Australia
- SMC Global Power, Philippines
- Larsen & Toubro Limited - India
- Neyveli Lignite Corporation Ltd, - India
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- New Zealand Coal & Carbon
- Medco Energi Mining Internasional
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- Ministry of Transport, Egypt
- Gujarat Mineral Development Corp Ltd - India
- Heidelberg Cement - Germany
- Bhoruka Overseas - Indonesia
- Global Coal Blending Company Limited - Australia
- Manunggal Multi Energi - Indonesia
- Planning Commission, India
- Uttam Galva Steels Limited - India
- Alfred C Toepfer International GmbH - Germany
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- Trasteel International SA, Italy
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Global Green Power PLC Corporation, Philippines
- Energy Development Corp, Philippines
- Ceylon Electricity Board - Sri Lanka
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- Sakthi Sugars Limited - India
- Romanian Commodities Exchange
- Anglo American - United Kingdom
- Kepco SPC Power Corporation, Philippines
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- Banpu Public Company Limited - Thailand
- Bulk Trading Sa - Switzerland
- VISA Power Limited - India
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- Bhatia International Limited - India
- Latin American Coal - Colombia
- Metalloyd Limited - United Kingdom
- The State Trading Corporation of India Ltd
- Minerals Council of Australia
- Interocean Group of Companies - India
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- Offshore Bulk Terminal Pte Ltd, Singapore
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- Orica Australia Pty. Ltd.
- SMG Consultants - Indonesia
- PTC India Limited - India
- Renaissance Capital - South Africa
- LBH Netherlands Bv - Netherlands
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- Ministry of Mines - Canada
- Siam City Cement - Thailand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Timah Investasi Mineral - Indoneisa
- Sinarmas Energy and Mining - Indonesia
- TeaM Sual Corporation - Philippines
- Posco Energy - South Korea
- Samtan Co., Ltd - South Korea
- Bhushan Steel Limited - India
- PNOC Exploration Corporation - Philippines
- Indian Oil Corporation Limited
- Ambuja Cements Ltd - India
- Price Waterhouse Coopers - Russia
- Port Waratah Coal Services - Australia
- London Commodity Brokers - England
- Wood Mackenzie - Singapore
- GN Power Mariveles Coal Plant, Philippines
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- Electricity Authority, New Zealand
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- ICICI Bank Limited - India
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- Iligan Light & Power Inc, Philippines
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