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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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Thursday, 04 October 12
CAPESIZE : IN SPITE OF THE HOLIDAYS IN CHINA, RATES ARE CLIMBING UP - FEARNLEYS AS
Handy
Atlantic market remains quiet due to lack of cargoes and more supply of ships. Rates from Continent to east Med were around USD 13k and Black ...
Wednesday, 03 October 12
BARCLAYS'S PRICE FORECAST FOR NEWCASTLE COAL HAS BEEN WRITTEN DOWN
“ The main story in the global coal markets has been the growth in supply, with all of the major exporters adding volumes into a market which ...
Sunday, 30 September 12
SUB-BIT INDONESIA COAL SWAPS: MIXED TREND
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) for November 2012 delivery lost 0.73 percent w-o-w but gained 0.41 percent d-o-d on Friday, 28 Se ...
Sunday, 30 September 12
INDONESIA HAS NO PLAN TO CAP COAL PRODUCTION
COALspot.com - “The current low coal prices were mainly due to a global oversupply condition, spurred by numerous mining exploitations in the ...
Sunday, 30 September 12
FREIGHT MARKET UNDER PRESSURE; OVERALL SENTIMENTS ARE STILL BEARISH
COALspot.com - The freight market seemed to have lost steam and all indices were down except for cape index.
The BDI was slightly down by 6 point ...
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- Dalmia Cement Bharat India
- Pendopo Energi Batubara - Indonesia
- Sical Logistics Limited - India
- Mintek Dendrill Indonesia
- Essar Steel Hazira Ltd - India
- Bulk Trading Sa - Switzerland
- Eastern Energy - Thailand
- Posco Energy - South Korea
- GN Power Mariveles Coal Plant, Philippines
- Tamil Nadu electricity Board
- VISA Power Limited - India
- Sojitz Corporation - Japan
- Attock Cement Pakistan Limited
- Maheswari Brothers Coal Limited - India
- Siam City Cement - Thailand
- Electricity Generating Authority of Thailand
- Mercuria Energy - Indonesia
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- Rio Tinto Coal - Australia
- The Treasury - Australian Government
- PetroVietnam Power Coal Import and Supply Company
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Carbofer General Trading SA - India
- Wilmar Investment Holdings
- Jindal Steel & Power Ltd - India
- Coalindo Energy - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- Wood Mackenzie - Singapore
- Uttam Galva Steels Limited - India
- Ministry of Mines - Canada
- Cement Manufacturers Association - India
- Deloitte Consulting - India
- Bahari Cakrawala Sebuku - Indonesia
- Bhushan Steel Limited - India
- Energy Development Corp, Philippines
- Global Coal Blending Company Limited - Australia
- CIMB Investment Bank - Malaysia
- Indogreen Group - Indonesia
- London Commodity Brokers - England
- Leighton Contractors Pty Ltd - Australia
- Kobexindo Tractors - Indoneisa
- Pipit Mutiara Jaya. PT, Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Rashtriya Ispat Nigam Limited - India
- India Bulls Power Limited - India
- Thiess Contractors Indonesia
- Iligan Light & Power Inc, Philippines
- Gujarat Electricity Regulatory Commission - India
- McConnell Dowell - Australia
- Indian Energy Exchange, India
- Miang Besar Coal Terminal - Indonesia
- Vizag Seaport Private Limited - India
- Electricity Authority, New Zealand
- Bangladesh Power Developement Board
- Marubeni Corporation - India
- Kumho Petrochemical, South Korea
- Parliament of New Zealand
- Price Waterhouse Coopers - Russia
- Indian Oil Corporation Limited
- Commonwealth Bank - Australia
- Kartika Selabumi Mining - Indonesia
- GVK Power & Infra Limited - India
- Port Waratah Coal Services - Australia
- ICICI Bank Limited - India
- Siam City Cement PLC, Thailand
- Aditya Birla Group - India
- Manunggal Multi Energi - Indonesia
- Medco Energi Mining Internasional
- Bukit Asam (Persero) Tbk - Indonesia
- Sarangani Energy Corporation, Philippines
- The University of Queensland
- Banpu Public Company Limited - Thailand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Coal and Oil Company - UAE
- Star Paper Mills Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- South Luzon Thermal Energy Corporation
- Bhatia International Limited - India
- Standard Chartered Bank - UAE
- Latin American Coal - Colombia
- Petron Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Karbindo Abesyapradhi - Indoneisa
- Africa Commodities Group - South Africa
- Aboitiz Power Corporation - Philippines
- SMG Consultants - Indonesia
- Interocean Group of Companies - India
- Global Business Power Corporation, Philippines
- Madhucon Powers Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Oldendorff Carriers - Singapore
- Ministry of Finance - Indonesia
- Goldman Sachs - Singapore
- Bukit Baiduri Energy - Indonesia
- Singapore Mercantile Exchange
- Heidelberg Cement - Germany
- SMC Global Power, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Central Electricity Authority - India
- OPG Power Generation Pvt Ltd - India
- Makarim & Taira - Indonesia
- PTC India Limited - India
- European Bulk Services B.V. - Netherlands
- Alfred C Toepfer International GmbH - Germany
- Eastern Coal Council - USA
- Larsen & Toubro Limited - India
- The State Trading Corporation of India Ltd
- Meralco Power Generation, Philippines
- Binh Thuan Hamico - Vietnam
- New Zealand Coal & Carbon
- Ambuja Cements Ltd - India
- Ministry of Transport, Egypt
- Cigading International Bulk Terminal - Indonesia
- Riau Bara Harum - Indonesia
- MS Steel International - UAE
- Straits Asia Resources Limited - Singapore
- Australian Commodity Traders Exchange
- Coastal Gujarat Power Limited - India
- Directorate Of Revenue Intelligence - India
- Merrill Lynch Commodities Europe
- Kepco SPC Power Corporation, Philippines
- Orica Mining Services - Indonesia
- Baramulti Group, Indonesia
- Krishnapatnam Port Company Ltd. - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Romanian Commodities Exchange
- Meenaskhi Energy Private Limited - India
- ASAPP Information Group - India
- Indonesian Coal Mining Association
- AsiaOL BioFuels Corp., Philippines
- Toyota Tsusho Corporation, Japan
- Directorate General of MIneral and Coal - Indonesia
- Timah Investasi Mineral - Indoneisa
- Maharashtra Electricity Regulatory Commission - India
- Billiton Holdings Pty Ltd - Australia
- Jorong Barutama Greston.PT - Indonesia
- Indo Tambangraya Megah - Indonesia
- Mjunction Services Limited - India
- Planning Commission, India
- Economic Council, Georgia
- Antam Resourcindo - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Independent Power Producers Association of India
- PNOC Exploration Corporation - Philippines
- Holcim Trading Pte Ltd - Singapore
- Bukit Makmur.PT - Indonesia
- Indika Energy - Indonesia
- Thai Mozambique Logistica
- TeaM Sual Corporation - Philippines
- Semirara Mining Corp, Philippines
- GAC Shipping (India) Pvt Ltd
- Kideco Jaya Agung - Indonesia
- Grasim Industreis Ltd - India
- Chettinad Cement Corporation Ltd - India
- Xindia Steels Limited - India
- Videocon Industries ltd - India
- Sree Jayajothi Cements Limited - India
- Formosa Plastics Group - Taiwan
- GMR Energy Limited - India
- Georgia Ports Authority, United States
- PowerSource Philippines DevCo
- CNBM International Corporation - China
- Renaissance Capital - South Africa
- Metalloyd Limited - United Kingdom
- Ind-Barath Power Infra Limited - India
- Lanco Infratech Ltd - India
- Therma Luzon, Inc, Philippines
- Ceylon Electricity Board - Sri Lanka
- Australian Coal Association
- Trasteel International SA, Italy
- Karaikal Port Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- Bharathi Cement Corporation - India
- White Energy Company Limited
- Vedanta Resources Plc - India
- Altura Mining Limited, Indonesia
- Parry Sugars Refinery, India
- Kalimantan Lumbung Energi - Indonesia
- Malabar Cements Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Intertek Mineral Services - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- International Coal Ventures Pvt Ltd - India
- IEA Clean Coal Centre - UK
- IHS Mccloskey Coal Group - USA
- Gujarat Sidhee Cement - India
- Jaiprakash Power Ventures ltd
- Savvy Resources Ltd - HongKong
- Minerals Council of Australia
- Kaltim Prima Coal - Indonesia
- Simpson Spence & Young - Indonesia
- San Jose City I Power Corp, Philippines
- Agrawal Coal Company - India
- Kapuas Tunggal Persada - Indonesia
- LBH Netherlands Bv - Netherlands
- Central Java Power - Indonesia
- Sindya Power Generating Company Private Ltd
- Chamber of Mines of South Africa
- Tata Chemicals Ltd - India
- Salva Resources Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- Samtan Co., Ltd - South Korea
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Edison Trading Spa - Italy
- Globalindo Alam Lestari - Indonesia
- Energy Link Ltd, New Zealand
- Anglo American - United Kingdom
- Asmin Koalindo Tuhup - Indonesia
- Power Finance Corporation Ltd., India
- Sakthi Sugars Limited - India
- SN Aboitiz Power Inc, Philippines
- Mercator Lines Limited - India
- Orica Australia Pty. Ltd.
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bhoruka Overseas - Indonesia
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