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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, 16 September 12
GLOBAL LOW DEMAND ; INDONESIA COAL AND CFR SOUTH CHINA COAL SWAPS DIP
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) for November 2012 delivery lost 1.345 percent W-O-W on Friday, 14 September 2012, closing but gai ...
Sunday, 16 September 12
THE FREIGHT RATES FROM INDONESIA TO INDIA EXPECTED TO BE STEADY - VISTAAR
COALspot.com - The freight market was mixed with most indices closing positive except for the Panamax index.
The main sentiment seems to be ...
Saturday, 15 September 12
FINANCE MINISTRY OPPOSES TAX INCENTIVE PLAN FOR COAL MINERS - JP
The Jakarta Post reported that, the Finance Ministry has turned down the idea of providing a fiscal incentive to the country’s coal mining ind ...
Friday, 14 September 12
DRY BULK MARKET LOOKS TOWARDS CHINA FOR SOME POSITIVE NEWS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
With the dry bulk market freight rates submerged underwater for a large part of the year, dry bulk owners are looking for some positive enhancement ...
Friday, 14 September 12
GOVT OFFERS CONDITIONAL TAX HOLIDAY TO AILING COAL MINERS - JP
The Jakarta Post, one of the leading English news paper in Indonesia reported that, acknowledging difficulties encountered by coal miners due to a p ...
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- IEA Clean Coal Centre - UK
- Ceylon Electricity Board - Sri Lanka
- Semirara Mining Corp, Philippines
- Altura Mining Limited, Indonesia
- India Bulls Power Limited - India
- Indo Tambangraya Megah - Indonesia
- Coal and Oil Company - UAE
- Offshore Bulk Terminal Pte Ltd, Singapore
- Salva Resources Pvt Ltd - India
- Parliament of New Zealand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Energy Link Ltd, New Zealand
- Bukit Baiduri Energy - Indonesia
- Global Business Power Corporation, Philippines
- Latin American Coal - Colombia
- International Coal Ventures Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Africa Commodities Group - South Africa
- Straits Asia Resources Limited - Singapore
- The State Trading Corporation of India Ltd
- Deloitte Consulting - India
- Vedanta Resources Plc - India
- Manunggal Multi Energi - Indonesia
- White Energy Company Limited
- Bukit Asam (Persero) Tbk - Indonesia
- Jindal Steel & Power Ltd - India
- Iligan Light & Power Inc, Philippines
- Vizag Seaport Private Limited - India
- Banpu Public Company Limited - Thailand
- Interocean Group of Companies - India
- Petrochimia International Co. Ltd.- Taiwan
- GMR Energy Limited - India
- Bayan Resources Tbk. - Indonesia
- Kumho Petrochemical, South Korea
- MS Steel International - UAE
- Directorate General of MIneral and Coal - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Indogreen Group - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- PowerSource Philippines DevCo
- Singapore Mercantile Exchange
- Pendopo Energi Batubara - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Bhatia International Limited - India
- Semirara Mining and Power Corporation, Philippines
- Metalloyd Limited - United Kingdom
- Minerals Council of Australia
- Aboitiz Power Corporation - Philippines
- Mercuria Energy - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Commonwealth Bank - Australia
- Port Waratah Coal Services - Australia
- Madhucon Powers Ltd - India
- SMG Consultants - Indonesia
- GAC Shipping (India) Pvt Ltd
- Baramulti Group, Indonesia
- Binh Thuan Hamico - Vietnam
- VISA Power Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Heidelberg Cement - Germany
- PTC India Limited - India
- Ministry of Finance - Indonesia
- Riau Bara Harum - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Siam City Cement PLC, Thailand
- Tata Chemicals Ltd - India
- ICICI Bank Limited - India
- San Jose City I Power Corp, Philippines
- Gujarat Sidhee Cement - India
- Asmin Koalindo Tuhup - Indonesia
- Larsen & Toubro Limited - India
- Therma Luzon, Inc, Philippines
- Malabar Cements Ltd - India
- Merrill Lynch Commodities Europe
- Kepco SPC Power Corporation, Philippines
- Planning Commission, India
- Central Electricity Authority - India
- Ministry of Mines - Canada
- Star Paper Mills Limited - India
- Meenaskhi Energy Private Limited - India
- Directorate Of Revenue Intelligence - India
- LBH Netherlands Bv - Netherlands
- Wilmar Investment Holdings
- Attock Cement Pakistan Limited
- Orica Australia Pty. Ltd.
- CIMB Investment Bank - Malaysia
- Indian Oil Corporation Limited
- IHS Mccloskey Coal Group - USA
- Cement Manufacturers Association - India
- Samtan Co., Ltd - South Korea
- Petron Corporation, Philippines
- Formosa Plastics Group - Taiwan
- Australian Coal Association
- Lanco Infratech Ltd - India
- Agrawal Coal Company - India
- Ind-Barath Power Infra Limited - India
- Coalindo Energy - Indonesia
- Bharathi Cement Corporation - India
- Kartika Selabumi Mining - Indonesia
- Maheswari Brothers Coal Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sinarmas Energy and Mining - Indonesia
- Sojitz Corporation - Japan
- Economic Council, Georgia
- Sindya Power Generating Company Private Ltd
- CNBM International Corporation - China
- Tamil Nadu electricity Board
- SN Aboitiz Power Inc, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Intertek Mineral Services - Indonesia
- Wood Mackenzie - Singapore
- Antam Resourcindo - Indonesia
- Georgia Ports Authority, United States
- Sical Logistics Limited - India
- Trasteel International SA, Italy
- Thai Mozambique Logistica
- GVK Power & Infra Limited - India
- Global Coal Blending Company Limited - Australia
- OPG Power Generation Pvt Ltd - India
- Makarim & Taira - Indonesia
- Standard Chartered Bank - UAE
- Holcim Trading Pte Ltd - Singapore
- Billiton Holdings Pty Ltd - Australia
- Eastern Coal Council - USA
- Sarangani Energy Corporation, Philippines
- Simpson Spence & Young - Indonesia
- Edison Trading Spa - Italy
- ASAPP Information Group - India
- Chettinad Cement Corporation Ltd - India
- Uttam Galva Steels Limited - India
- European Bulk Services B.V. - Netherlands
- Rashtriya Ispat Nigam Limited - India
- Kobexindo Tractors - Indoneisa
- Global Green Power PLC Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Chamber of Mines of South Africa
- Thiess Contractors Indonesia
- Central Java Power - Indonesia
- Sree Jayajothi Cements Limited - India
- TeaM Sual Corporation - Philippines
- Marubeni Corporation - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Goldman Sachs - Singapore
- Essar Steel Hazira Ltd - India
- Eastern Energy - Thailand
- Vijayanagar Sugar Pvt Ltd - India
- Ministry of Transport, Egypt
- Kohat Cement Company Ltd. - Pakistan
- The Treasury - Australian Government
- Aditya Birla Group - India
- Siam City Cement - Thailand
- Bhoruka Overseas - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Coastal Gujarat Power Limited - India
- Power Finance Corporation Ltd., India
- Toyota Tsusho Corporation, Japan
- PNOC Exploration Corporation - Philippines
- Videocon Industries ltd - India
- Bukit Makmur.PT - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- The University of Queensland
- Mintek Dendrill Indonesia
- South Luzon Thermal Energy Corporation
- Kideco Jaya Agung - Indonesia
- Energy Development Corp, Philippines
- Globalindo Alam Lestari - Indonesia
- Timah Investasi Mineral - Indoneisa
- Oldendorff Carriers - Singapore
- Electricity Authority, New Zealand
- Independent Power Producers Association of India
- Leighton Contractors Pty Ltd - Australia
- London Commodity Brokers - England
- Carbofer General Trading SA - India
- Medco Energi Mining Internasional
- Meralco Power Generation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Electricity Generating Authority of Thailand
- Australian Commodity Traders Exchange
- Xindia Steels Limited - India
- Posco Energy - South Korea
- Ambuja Cements Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Orica Mining Services - Indonesia
- Bhushan Steel Limited - India
- Rio Tinto Coal - Australia
- Bangladesh Power Developement Board
- Renaissance Capital - South Africa
- Karbindo Abesyapradhi - Indoneisa
- Jaiprakash Power Ventures ltd
- Indonesian Coal Mining Association
- Borneo Indobara - Indonesia
- Grasim Industreis Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Sakthi Sugars Limited - India
- Barasentosa Lestari - Indonesia
- Dalmia Cement Bharat India
- Mercator Lines Limited - India
- Indian Energy Exchange, India
- Mjunction Services Limited - India
- Savvy Resources Ltd - HongKong
- TNB Fuel Sdn Bhd - Malaysia
- McConnell Dowell - Australia
- Romanian Commodities Exchange
- New Zealand Coal & Carbon
- Kaltim Prima Coal - Indonesia
- SMC Global Power, Philippines
- Karaikal Port Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Kapuas Tunggal Persada - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Miang Besar Coal Terminal - Indonesia
- Price Waterhouse Coopers - Russia
- Anglo American - United Kingdom
- Bulk Trading Sa - Switzerland
- Indika Energy - Indonesia
- Parry Sugars Refinery, India
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