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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, 28 September 12
DRY BULK SECOND HAND VESSELS ON HIGH DEMAND - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Despite the demise of the dry bulk market and the collapse of freight rates since the beginning of 2012, on the back of record breaking newbuilding ...
Thursday, 27 September 12
MINING RE-COMMENCES AT ORPHEUS' B2 EAST KALIMANTAN COAL PROJECT
- B2 project overburden removal completed and coal exposed
- Coal getting has commenced with target production of 30,000tpm
- Orpheus to re ...
Thursday, 27 September 12
HANDY: THE PACIFIC MARKET IS GETTING WEAKER WITH UPCOMING GOLDEN WEEK HOLIDAYS - FEARNLEYS AS
Handy
Yet another week with rates softening in all trades. Especially owners with ships open Continent struggle to find employment paying decent mo ...
Thursday, 27 September 12
DRY BULK MARKET LOSES STEAM - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The rise of the BDI (Baltic Dry Index), the dry bulk industry’s benchmark during the course of the previous week, proved to be short-lived, as ...
Wednesday, 26 September 12
NEWBUILDING ORDERING ACTIVITY REMAINS SUBDUED ON GLOBAL MARKET UNCERTAINTY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Newbuilding ordering activity has been on the down side during the past few weeks, a trend also noticeable during the course of the past few days, a ...
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- Dr Ramakrishna Prasad Power Pvt Ltd - India
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- Siam City Cement PLC, Thailand
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- Energy Development Corp, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
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- Meralco Power Generation, Philippines
- Merrill Lynch Commodities Europe
- Kartika Selabumi Mining - Indonesia
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- Ceylon Electricity Board - Sri Lanka
- Posco Energy - South Korea
- Videocon Industries ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Cement Manufacturers Association - India
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- The University of Queensland
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- Miang Besar Coal Terminal - Indonesia
- PowerSource Philippines DevCo
- The Treasury - Australian Government
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- TeaM Sual Corporation - Philippines
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- Minerals Council of Australia
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- Kepco SPC Power Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Essar Steel Hazira Ltd - India
- Dalmia Cement Bharat India
- Maharashtra Electricity Regulatory Commission - India
- Pipit Mutiara Jaya. PT, Indonesia
- Intertek Mineral Services - Indonesia
- Bulk Trading Sa - Switzerland
- Electricity Generating Authority of Thailand
- Madhucon Powers Ltd - India
- Mjunction Services Limited - India
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- Makarim & Taira - Indonesia
- Medco Energi Mining Internasional
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- Trasteel International SA, Italy
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- LBH Netherlands Bv - Netherlands
- Parliament of New Zealand
- Price Waterhouse Coopers - Russia
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- Australian Commodity Traders Exchange
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- Formosa Plastics Group - Taiwan
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- Xindia Steels Limited - India
- Wood Mackenzie - Singapore
- Heidelberg Cement - Germany
- Ind-Barath Power Infra Limited - India
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- Ministry of Mines - Canada
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- Barasentosa Lestari - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- New Zealand Coal & Carbon
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- Cigading International Bulk Terminal - Indonesia
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- Indian Energy Exchange, India
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- Kumho Petrochemical, South Korea
- The State Trading Corporation of India Ltd
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- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Pendopo Energi Batubara - Indonesia
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- Energy Link Ltd, New Zealand
- Timah Investasi Mineral - Indoneisa
- Jorong Barutama Greston.PT - Indonesia
- Agrawal Coal Company - India
- Alfred C Toepfer International GmbH - Germany
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- Straits Asia Resources Limited - Singapore
- Directorate General of MIneral and Coal - Indonesia
- Goldman Sachs - Singapore
- Coalindo Energy - Indonesia
- Standard Chartered Bank - UAE
- Kalimantan Lumbung Energi - Indonesia
- Eastern Coal Council - USA
- Mercator Lines Limited - India
- Independent Power Producers Association of India
- Bhoruka Overseas - Indonesia
- Riau Bara Harum - Indonesia
- Lanco Infratech Ltd - India
- Directorate Of Revenue Intelligence - India
- TNB Fuel Sdn Bhd - Malaysia
- Electricity Authority, New Zealand
- Altura Mining Limited, Indonesia
- Thiess Contractors Indonesia
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- Romanian Commodities Exchange
- Oldendorff Carriers - Singapore
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- Anglo American - United Kingdom
- Kaltim Prima Coal - Indonesia
- Deloitte Consulting - India
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- Holcim Trading Pte Ltd - Singapore
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- SN Aboitiz Power Inc, Philippines
- Vizag Seaport Private Limited - India
- Interocean Group of Companies - India
- Eastern Energy - Thailand
- Vijayanagar Sugar Pvt Ltd - India
- Baramulti Group, Indonesia
- Tamil Nadu electricity Board
- Rio Tinto Coal - Australia
- Edison Trading Spa - Italy
- CNBM International Corporation - China
- Singapore Mercantile Exchange
- Chamber of Mines of South Africa
- Sical Logistics Limited - India
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- GN Power Mariveles Coal Plant, Philippines
- GAC Shipping (India) Pvt Ltd
- Mercuria Energy - Indonesia
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- Aditya Birla Group - India
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- Planning Commission, India
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- Global Business Power Corporation, Philippines
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- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indian Oil Corporation Limited
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- Economic Council, Georgia
- European Bulk Services B.V. - Netherlands
- Bangladesh Power Developement Board
- London Commodity Brokers - England
- Sindya Power Generating Company Private Ltd
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- Georgia Ports Authority, United States
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- Sarangani Energy Corporation, Philippines
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- Uttam Galva Steels Limited - India
- Metalloyd Limited - United Kingdom
- Banpu Public Company Limited - Thailand
- Ministry of Finance - Indonesia
- Attock Cement Pakistan Limited
- Iligan Light & Power Inc, Philippines
- ASAPP Information Group - India
- Kohat Cement Company Ltd. - Pakistan
- Petrochimia International Co. Ltd.- Taiwan
- PNOC Exploration Corporation - Philippines
- Africa Commodities Group - South Africa
- Ministry of Transport, Egypt
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