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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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Sunday, 23 September 12
AN ANOTHER UNSTABLE WEEK FOR INDONESIAN COAL SWAPS
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) for November 2012 delivery lost 1.10 percent and 0.916 percent WOW and DOD respectively ...
Sunday, 23 September 12
INDIA IMPORTED 11.40 PERCENT MORE INDONESIAN COAL IN AUGUST
COALspot.com: Indonesia, the world largest multi grade coal exporter, shipped 26,451,565* tons of coal in August 2012, compared to 27.88* mill ...
Saturday, 22 September 12
SOFT BUNKER PRICES KEEP INDONESIA TO INDIA FREIGHTS STABLE - VISTAAR
COALspot.com - The freight market overall remained buoyant with all indices up except for Panamax index. The main effect seems to be increased shipm ...
Friday, 21 September 12
SHIP BREAKING ACTIVITY REACHES NEW RECORDS, AS ALREADY 2012 LEVELS HAVE SURPASSED THE WHOLE OF 2011 - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The vast oversupply of vessels, most notably in the dry bulk shipping sector, has forced ship owners to intensify their efforts towards recycling th ...
Thursday, 20 September 12
SUPRAMAX : INDO-INDIA ROUNDS WERE AROUND USD 12K - FEARNLEYS
Handy
Not a bad week for Supramax tonnage, if we compare Supramax developments to the bigger size tonnage. The rates have basically remained unchan ...
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- Simpson Spence & Young - Indonesia
- Indogreen Group - Indonesia
- Global Coal Blending Company Limited - Australia
- Cigading International Bulk Terminal - Indonesia
- Deloitte Consulting - India
- Vizag Seaport Private Limited - India
- Globalindo Alam Lestari - Indonesia
- Makarim & Taira - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- New Zealand Coal & Carbon
- Siam City Cement PLC, Thailand
- Karbindo Abesyapradhi - Indoneisa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Formosa Plastics Group - Taiwan
- Manunggal Multi Energi - Indonesia
- European Bulk Services B.V. - Netherlands
- India Bulls Power Limited - India
- Billiton Holdings Pty Ltd - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Mjunction Services Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Chamber of Mines of South Africa
- Cement Manufacturers Association - India
- The University of Queensland
- Tata Chemicals Ltd - India
- Gujarat Sidhee Cement - India
- Jaiprakash Power Ventures ltd
- Renaissance Capital - South Africa
- GN Power Mariveles Coal Plant, Philippines
- Bharathi Cement Corporation - India
- Thiess Contractors Indonesia
- Central Electricity Authority - India
- Central Java Power - Indonesia
- Thai Mozambique Logistica
- Edison Trading Spa - Italy
- McConnell Dowell - Australia
- Global Business Power Corporation, Philippines
- Aditya Birla Group - India
- Coal and Oil Company - UAE
- Ministry of Finance - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Georgia Ports Authority, United States
- Meralco Power Generation, Philippines
- Parry Sugars Refinery, India
- Goldman Sachs - Singapore
- Bayan Resources Tbk. - Indonesia
- Rio Tinto Coal - Australia
- The Treasury - Australian Government
- SN Aboitiz Power Inc, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Ind-Barath Power Infra Limited - India
- Orica Mining Services - Indonesia
- Port Waratah Coal Services - Australia
- London Commodity Brokers - England
- TeaM Sual Corporation - Philippines
- Carbofer General Trading SA - India
- Kideco Jaya Agung - Indonesia
- Romanian Commodities Exchange
- Tamil Nadu electricity Board
- Energy Development Corp, Philippines
- SMG Consultants - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Indian Energy Exchange, India
- Electricity Authority, New Zealand
- Pendopo Energi Batubara - Indonesia
- Heidelberg Cement - Germany
- CNBM International Corporation - China
- Leighton Contractors Pty Ltd - Australia
- Riau Bara Harum - Indonesia
- Star Paper Mills Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Semirara Mining Corp, Philippines
- Agrawal Coal Company - India
- White Energy Company Limited
- Iligan Light & Power Inc, Philippines
- Economic Council, Georgia
- Semirara Mining and Power Corporation, Philippines
- PowerSource Philippines DevCo
- Neyveli Lignite Corporation Ltd, - India
- Africa Commodities Group - South Africa
- Kartika Selabumi Mining - Indonesia
- Parliament of New Zealand
- South Luzon Thermal Energy Corporation
- Meenaskhi Energy Private Limited - India
- CIMB Investment Bank - Malaysia
- Aboitiz Power Corporation - Philippines
- LBH Netherlands Bv - Netherlands
- Eastern Energy - Thailand
- MS Steel International - UAE
- Trasteel International SA, Italy
- Ministry of Mines - Canada
- PetroVietnam Power Coal Import and Supply Company
- Banpu Public Company Limited - Thailand
- Bhoruka Overseas - Indonesia
- Lanco Infratech Ltd - India
- Sojitz Corporation - Japan
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bhushan Steel Limited - India
- Mercuria Energy - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- ICICI Bank Limited - India
- Petron Corporation, Philippines
- GVK Power & Infra Limited - India
- Barasentosa Lestari - Indonesia
- Electricity Generating Authority of Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- Indika Energy - Indonesia
- Uttam Galva Steels Limited - India
- Standard Chartered Bank - UAE
- Sical Logistics Limited - India
- International Coal Ventures Pvt Ltd - India
- Bangladesh Power Developement Board
- Bukit Baiduri Energy - Indonesia
- The State Trading Corporation of India Ltd
- Kapuas Tunggal Persada - Indonesia
- Latin American Coal - Colombia
- Attock Cement Pakistan Limited
- Minerals Council of Australia
- GAC Shipping (India) Pvt Ltd
- Mercator Lines Limited - India
- Commonwealth Bank - Australia
- Coalindo Energy - Indonesia
- San Jose City I Power Corp, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Bahari Cakrawala Sebuku - Indonesia
- Sarangani Energy Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Toyota Tsusho Corporation, Japan
- Posco Energy - South Korea
- Ambuja Cements Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Grasim Industreis Ltd - India
- Planning Commission, India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Alfred C Toepfer International GmbH - Germany
- Borneo Indobara - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Australian Coal Association
- Merrill Lynch Commodities Europe
- IEA Clean Coal Centre - UK
- Antam Resourcindo - Indonesia
- Baramulti Group, Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Eastern Coal Council - USA
- Metalloyd Limited - United Kingdom
- GMR Energy Limited - India
- Samtan Co., Ltd - South Korea
- Altura Mining Limited, Indonesia
- IHS Mccloskey Coal Group - USA
- Global Green Power PLC Corporation, Philippines
- VISA Power Limited - India
- Indian Oil Corporation Limited
- Petrochimia International Co. Ltd.- Taiwan
- OPG Power Generation Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- Sakthi Sugars Limited - India
- Sindya Power Generating Company Private Ltd
- Maheswari Brothers Coal Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Malabar Cements Ltd - India
- Kobexindo Tractors - Indoneisa
- Bulk Trading Sa - Switzerland
- Interocean Group of Companies - India
- Ministry of Transport, Egypt
- Directorate Of Revenue Intelligence - India
- Therma Luzon, Inc, Philippines
- Madhucon Powers Ltd - India
- SMC Global Power, Philippines
- ASAPP Information Group - India
- Kohat Cement Company Ltd. - Pakistan
- Independent Power Producers Association of India
- Mintek Dendrill Indonesia
- Coastal Gujarat Power Limited - India
- Binh Thuan Hamico - Vietnam
- Medco Energi Mining Internasional
- AsiaOL BioFuels Corp., Philippines
- Wood Mackenzie - Singapore
- Miang Besar Coal Terminal - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Australian Commodity Traders Exchange
- Sree Jayajothi Cements Limited - India
- Wilmar Investment Holdings
- Chettinad Cement Corporation Ltd - India
- Videocon Industries ltd - India
- Marubeni Corporation - India
- Intertek Mineral Services - Indonesia
- Essar Steel Hazira Ltd - India
- Indo Tambangraya Megah - Indonesia
- Vedanta Resources Plc - India
- PTC India Limited - India
- Indonesian Coal Mining Association
- Savvy Resources Ltd - HongKong
- Salva Resources Pvt Ltd - India
- Oldendorff Carriers - Singapore
- Price Waterhouse Coopers - Russia
- Anglo American - United Kingdom
- Bukit Makmur.PT - Indonesia
- Kepco SPC Power Corporation, Philippines
- Siam City Cement - Thailand
- Timah Investasi Mineral - Indoneisa
- Singapore Mercantile Exchange
- Power Finance Corporation Ltd., India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Karaikal Port Pvt Ltd - India
- Energy Link Ltd, New Zealand
- Straits Asia Resources Limited - Singapore
- Kumho Petrochemical, South Korea
- Dalmia Cement Bharat India
- Bhatia International Limited - India
- Krishnapatnam Port Company Ltd. - India
- Orica Australia Pty. Ltd.
- Larsen & Toubro Limited - India
- Xindia Steels Limited - India
- Kaltim Prima Coal - Indonesia
- Jindal Steel & Power Ltd - India
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