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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, 20 September 12
DRY BULK INCHES FORWARD AFTER WEEKS OF BELOW PAR PERFORMANCE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has started to revive from its ashed, as the past couple of days, traders have reported an increased activity from China, result ...
Wednesday, 19 September 12
CHURCHILL STRENGTHENS LITIGATION TEAM WITH APPOINTMENT OF NICHOLAS SMITH AS MANAGING DIRECTOR
COALspot.com - Churchill Mining PLC (AIM: CHL) has announced that, Mr Nicholas Smith has joined the board of the Company and has been appointed as t ...
Wednesday, 19 September 12
DRY BULK TERMINALS SINGAPORE
Press Release - Dry bulk terminals are used all around the world to handle large quantities of bulk materials, like minerals, grains, etc. In today& ...
Tuesday, 18 September 12
JORC CODE REVISION - EXPOSURE DRAFT RELEASED FOR COMMENT
COALspot.com - The Australasian Joint Ore Reserves Committee (JORC) has today released for public comment the exposure draft of the JORC Code (2012) ...
Monday, 17 September 12
YEAR TO DATE, BUMA PRODUCED 231.1 MILLION BCM OF OVERBURDEN
COALspot.com - PT. Delta Dunia Makmur Tbk has removed 31.5 million bcm (+6.0 percent YoY) overburden in August 2012 totaled 31.5 million bcm ( ...
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- Attock Cement Pakistan Limited
- Baramulti Group, Indonesia
- Kapuas Tunggal Persada - Indonesia
- Bhushan Steel Limited - India
- Minerals Council of Australia
- Planning Commission, India
- International Coal Ventures Pvt Ltd - India
- Malabar Cements Ltd - India
- Antam Resourcindo - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Mintek Dendrill Indonesia
- Medco Energi Mining Internasional
- Intertek Mineral Services - Indonesia
- San Jose City I Power Corp, Philippines
- Agrawal Coal Company - India
- Commonwealth Bank - Australia
- Krishnapatnam Port Company Ltd. - India
- Bahari Cakrawala Sebuku - Indonesia
- Jindal Steel & Power Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Chamber of Mines of South Africa
- Siam City Cement PLC, Thailand
- Larsen & Toubro Limited - India
- Ministry of Transport, Egypt
- Semirara Mining Corp, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- CNBM International Corporation - China
- Petron Corporation, Philippines
- Ministry of Mines - Canada
- Heidelberg Cement - Germany
- Parliament of New Zealand
- Indonesian Coal Mining Association
- Edison Trading Spa - Italy
- McConnell Dowell - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Altura Mining Limited, Indonesia
- PNOC Exploration Corporation - Philippines
- Karbindo Abesyapradhi - Indoneisa
- Singapore Mercantile Exchange
- MS Steel International - UAE
- Latin American Coal - Colombia
- LBH Netherlands Bv - Netherlands
- Dalmia Cement Bharat India
- Standard Chartered Bank - UAE
- Pipit Mutiara Jaya. PT, Indonesia
- Mercator Lines Limited - India
- Toyota Tsusho Corporation, Japan
- Australian Coal Association
- Jaiprakash Power Ventures ltd
- PetroVietnam Power Coal Import and Supply Company
- Barasentosa Lestari - Indonesia
- GAC Shipping (India) Pvt Ltd
- VISA Power Limited - India
- Energy Development Corp, Philippines
- Straits Asia Resources Limited - Singapore
- PTC India Limited - India
- Salva Resources Pvt Ltd - India
- GMR Energy Limited - India
- Cement Manufacturers Association - India
- Vedanta Resources Plc - India
- Goldman Sachs - Singapore
- Ambuja Cements Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Maheswari Brothers Coal Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- TeaM Sual Corporation - Philippines
- CIMB Investment Bank - Malaysia
- Indogreen Group - Indonesia
- Aboitiz Power Corporation - Philippines
- Bhatia International Limited - India
- Price Waterhouse Coopers - Russia
- Formosa Plastics Group - Taiwan
- Kalimantan Lumbung Energi - Indonesia
- White Energy Company Limited
- Borneo Indobara - Indonesia
- Indika Energy - Indonesia
- Merrill Lynch Commodities Europe
- Neyveli Lignite Corporation Ltd, - India
- Samtan Co., Ltd - South Korea
- SMC Global Power, Philippines
- Anglo American - United Kingdom
- Wilmar Investment Holdings
- Eastern Coal Council - USA
- Parry Sugars Refinery, India
- Ceylon Electricity Board - Sri Lanka
- Bank of Tokyo Mitsubishi UFJ Ltd
- Mjunction Services Limited - India
- London Commodity Brokers - England
- Economic Council, Georgia
- Kumho Petrochemical, South Korea
- Global Coal Blending Company Limited - Australia
- Kaltim Prima Coal - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Asmin Koalindo Tuhup - Indonesia
- Aditya Birla Group - India
- Ministry of Finance - Indonesia
- Romanian Commodities Exchange
- ASAPP Information Group - India
- SMG Consultants - Indonesia
- Sical Logistics Limited - India
- Trasteel International SA, Italy
- Timah Investasi Mineral - Indoneisa
- Iligan Light & Power Inc, Philippines
- Energy Link Ltd, New Zealand
- Global Business Power Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- Bulk Trading Sa - Switzerland
- Meenaskhi Energy Private Limited - India
- Carbofer General Trading SA - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bayan Resources Tbk. - Indonesia
- Kepco SPC Power Corporation, Philippines
- Therma Luzon, Inc, Philippines
- Madhucon Powers Ltd - India
- Wood Mackenzie - Singapore
- Globalindo Alam Lestari - Indonesia
- Sindya Power Generating Company Private Ltd
- Tata Chemicals Ltd - India
- Sojitz Corporation - Japan
- Coal and Oil Company - UAE
- Simpson Spence & Young - Indonesia
- Oldendorff Carriers - Singapore
- Deloitte Consulting - India
- The University of Queensland
- India Bulls Power Limited - India
- ICICI Bank Limited - India
- AsiaOL BioFuels Corp., Philippines
- Xindia Steels Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Star Paper Mills Limited - India
- Indo Tambangraya Megah - Indonesia
- Bukit Baiduri Energy - Indonesia
- Central Electricity Authority - India
- GN Power Mariveles Coal Plant, Philippines
- Orica Australia Pty. Ltd.
- Georgia Ports Authority, United States
- Coalindo Energy - Indonesia
- Kideco Jaya Agung - Indonesia
- Riau Bara Harum - Indonesia
- Sakthi Sugars Limited - India
- Marubeni Corporation - India
- Thiess Contractors Indonesia
- Gujarat Electricity Regulatory Commission - India
- Electricity Generating Authority of Thailand
- Alfred C Toepfer International GmbH - Germany
- European Bulk Services B.V. - Netherlands
- OPG Power Generation Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Tamil Nadu electricity Board
- Kobexindo Tractors - Indoneisa
- Independent Power Producers Association of India
- Eastern Energy - Thailand
- Africa Commodities Group - South Africa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bukit Makmur.PT - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Sree Jayajothi Cements Limited - India
- Miang Besar Coal Terminal - Indonesia
- Renaissance Capital - South Africa
- Gujarat Sidhee Cement - India
- The Treasury - Australian Government
- Vizag Seaport Private Limited - India
- GVK Power & Infra Limited - India
- Lanco Infratech Ltd - India
- Interocean Group of Companies - India
- Sarangani Energy Corporation, Philippines
- PowerSource Philippines DevCo
- IHS Mccloskey Coal Group - USA
- Port Waratah Coal Services - Australia
- Indian Oil Corporation Limited
- Directorate Of Revenue Intelligence - India
- SN Aboitiz Power Inc, Philippines
- Leighton Contractors Pty Ltd - Australia
- Videocon Industries ltd - India
- Manunggal Multi Energi - Indonesia
- Australian Commodity Traders Exchange
- Cigading International Bulk Terminal - Indonesia
- IEA Clean Coal Centre - UK
- Power Finance Corporation Ltd., India
- Maharashtra Electricity Regulatory Commission - India
- Karaikal Port Pvt Ltd - India
- Uttam Galva Steels Limited - India
- Essar Steel Hazira Ltd - India
- Bharathi Cement Corporation - India
- Pendopo Energi Batubara - Indonesia
- New Zealand Coal & Carbon
- Siam City Cement - Thailand
- Central Java Power - Indonesia
- Metalloyd Limited - United Kingdom
- Banpu Public Company Limited - Thailand
- Petrochimia International Co. Ltd.- Taiwan
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Orica Mining Services - Indonesia
- Posco Energy - South Korea
- The State Trading Corporation of India Ltd
- Gujarat Mineral Development Corp Ltd - India
- Binh Thuan Hamico - Vietnam
- Semirara Mining and Power Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Savvy Resources Ltd - HongKong
- Electricity Authority, New Zealand
- Grasim Industreis Ltd - India
- South Luzon Thermal Energy Corporation
- Global Green Power PLC Corporation, Philippines
- Meralco Power Generation, Philippines
- Chettinad Cement Corporation Ltd - India
- Indian Energy Exchange, India
- Ind-Barath Power Infra Limited - India
- Bangladesh Power Developement Board
- Thai Mozambique Logistica
- Jorong Barutama Greston.PT - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- Makarim & Taira - Indonesia
- Rio Tinto Coal - Australia
- Bhoruka Overseas - Indonesia
- Mercuria Energy - Indonesia
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