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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, 13 September 12
PANAMAX: THE NEGATIVE TREND, POOR SENTIMENT CONTINUES - FEARNLEYS AS
Handy
Lack of cargoes and a growing list of available ships is causing rates to slip for all Atlantic trades.
The only trade keeping somewhat s ...
Thursday, 13 September 12
FUEL EFFICIENT SHIPS MAY BE MORE EXPENSIVE, BUT THEY MAKE FINANCIAL SENSE SAYS ANALYSIS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The latest trend in shipbuilding is the so called "Eco" ship, i.e. ships which offer much better fuel consumption and are more cost-effect ...
Wednesday, 12 September 12
INDIAS COALGATE: TIME FOR A ROOT CANAL
A recent report from India’s Comptroller and Auditor General (CAG) pertaining to the allocation of coal blocks has created a political storm i ...
Tuesday, 11 September 12
CLOUDY AND POLICY RISK INDONESIAN COAL INDUSTRY
COALspot.com - Bahana Securities in its latest coal outlook, commented on the Indonesian coal market, with economic slowdown in the four largest coa ...
Tuesday, 11 September 12
SHIP OWNERS KEEN ON SECOND HAND VESSEL PURCHASES - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
With most ship owners back from their summer rest, things are starting to pick up again in the second hand vessel market, with more and more deals b ...
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- South Luzon Thermal Energy Corporation
- PetroVietnam Power Coal Import and Supply Company
- Agrawal Coal Company - India
- Bukit Makmur.PT - Indonesia
- Xindia Steels Limited - India
- Vedanta Resources Plc - India
- Ind-Barath Power Infra Limited - India
- Jorong Barutama Greston.PT - Indonesia
- The Treasury - Australian Government
- Billiton Holdings Pty Ltd - Australia
- Mercator Lines Limited - India
- Timah Investasi Mineral - Indoneisa
- Miang Besar Coal Terminal - Indonesia
- Straits Asia Resources Limited - Singapore
- Economic Council, Georgia
- Metalloyd Limited - United Kingdom
- Bayan Resources Tbk. - Indonesia
- Jaiprakash Power Ventures ltd
- Coastal Gujarat Power Limited - India
- Sarangani Energy Corporation, Philippines
- Singapore Mercantile Exchange
- Chettinad Cement Corporation Ltd - India
- Ambuja Cements Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kohat Cement Company Ltd. - Pakistan
- Globalindo Alam Lestari - Indonesia
- Bukit Baiduri Energy - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Holcim Trading Pte Ltd - Singapore
- Ministry of Finance - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Iligan Light & Power Inc, Philippines
- IEA Clean Coal Centre - UK
- Bhatia International Limited - India
- Thiess Contractors Indonesia
- Sojitz Corporation - Japan
- Kumho Petrochemical, South Korea
- Kapuas Tunggal Persada - Indonesia
- Meenaskhi Energy Private Limited - India
- Indika Energy - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Maheswari Brothers Coal Limited - India
- Gujarat Electricity Regulatory Commission - India
- Uttam Galva Steels Limited - India
- Coalindo Energy - Indonesia
- Trasteel International SA, Italy
- Cigading International Bulk Terminal - Indonesia
- Madhucon Powers Ltd - India
- Medco Energi Mining Internasional
- Heidelberg Cement - Germany
- Baramulti Group, Indonesia
- Indian Energy Exchange, India
- The University of Queensland
- Semirara Mining and Power Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- Star Paper Mills Limited - India
- Toyota Tsusho Corporation, Japan
- Sakthi Sugars Limited - India
- LBH Netherlands Bv - Netherlands
- Petron Corporation, Philippines
- Simpson Spence & Young - Indonesia
- Bhushan Steel Limited - India
- Electricity Authority, New Zealand
- Vijayanagar Sugar Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Merrill Lynch Commodities Europe
- Attock Cement Pakistan Limited
- San Jose City I Power Corp, Philippines
- Siam City Cement - Thailand
- Romanian Commodities Exchange
- Kobexindo Tractors - Indoneisa
- Asmin Koalindo Tuhup - Indonesia
- Anglo American - United Kingdom
- SN Aboitiz Power Inc, Philippines
- Dalmia Cement Bharat India
- GMR Energy Limited - India
- Orica Australia Pty. Ltd.
- India Bulls Power Limited - India
- Indo Tambangraya Megah - Indonesia
- Thai Mozambique Logistica
- Meralco Power Generation, Philippines
- Intertek Mineral Services - Indonesia
- Directorate Of Revenue Intelligence - India
- Mjunction Services Limited - India
- Global Business Power Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- Port Waratah Coal Services - Australia
- Eastern Energy - Thailand
- Price Waterhouse Coopers - Russia
- Sical Logistics Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Pendopo Energi Batubara - Indonesia
- Cement Manufacturers Association - India
- Larsen & Toubro Limited - India
- Marubeni Corporation - India
- Central Java Power - Indonesia
- Mintek Dendrill Indonesia
- Alfred C Toepfer International GmbH - Germany
- New Zealand Coal & Carbon
- Makarim & Taira - Indonesia
- Mercuria Energy - Indonesia
- Wilmar Investment Holdings
- Latin American Coal - Colombia
- Georgia Ports Authority, United States
- Posco Energy - South Korea
- Electricity Generating Authority of Thailand
- Siam City Cement PLC, Thailand
- International Coal Ventures Pvt Ltd - India
- Australian Coal Association
- Antam Resourcindo - Indonesia
- Australian Commodity Traders Exchange
- Kideco Jaya Agung - Indonesia
- McConnell Dowell - Australia
- Vizag Seaport Private Limited - India
- Oldendorff Carriers - Singapore
- Gujarat Mineral Development Corp Ltd - India
- Videocon Industries ltd - India
- TeaM Sual Corporation - Philippines
- Riau Bara Harum - Indonesia
- Planning Commission, India
- Sinarmas Energy and Mining - Indonesia
- The State Trading Corporation of India Ltd
- Kalimantan Lumbung Energi - Indonesia
- Indian Oil Corporation Limited
- Independent Power Producers Association of India
- CNBM International Corporation - China
- European Bulk Services B.V. - Netherlands
- Bukit Asam (Persero) Tbk - Indonesia
- Parliament of New Zealand
- Interocean Group of Companies - India
- Indonesian Coal Mining Association
- ICICI Bank Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Karbindo Abesyapradhi - Indoneisa
- Parry Sugars Refinery, India
- Samtan Co., Ltd - South Korea
- VISA Power Limited - India
- Barasentosa Lestari - Indonesia
- Bharathi Cement Corporation - India
- White Energy Company Limited
- Bahari Cakrawala Sebuku - Indonesia
- Binh Thuan Hamico - Vietnam
- PowerSource Philippines DevCo
- CIMB Investment Bank - Malaysia
- GVK Power & Infra Limited - India
- Sree Jayajothi Cements Limited - India
- Gujarat Sidhee Cement - India
- Lanco Infratech Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Jindal Steel & Power Ltd - India
- Formosa Plastics Group - Taiwan
- Power Finance Corporation Ltd., India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Minerals Council of Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Coal and Oil Company - UAE
- Banpu Public Company Limited - Thailand
- Rashtriya Ispat Nigam Limited - India
- Eastern Coal Council - USA
- Standard Chartered Bank - UAE
- Bhoruka Overseas - Indonesia
- Commonwealth Bank - Australia
- Kepco SPC Power Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Kaltim Prima Coal - Indonesia
- Rio Tinto Coal - Australia
- Therma Luzon, Inc, Philippines
- Deloitte Consulting - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Orica Mining Services - Indonesia
- Borneo Indobara - Indonesia
- Energy Link Ltd, New Zealand
- Neyveli Lignite Corporation Ltd, - India
- Central Electricity Authority - India
- Altura Mining Limited, Indonesia
- Goldman Sachs - Singapore
- Kartika Selabumi Mining - Indonesia
- Indogreen Group - Indonesia
- Bulk Trading Sa - Switzerland
- Semirara Mining Corp, Philippines
- Ministry of Transport, Egypt
- AsiaOL BioFuels Corp., Philippines
- Tata Chemicals Ltd - India
- Malabar Cements Ltd - India
- Edison Trading Spa - Italy
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- PTC India Limited - India
- PNOC Exploration Corporation - Philippines
- Carbofer General Trading SA - India
- Ministry of Mines - Canada
- Salva Resources Pvt Ltd - India
- London Commodity Brokers - England
- Aboitiz Power Corporation - Philippines
- MS Steel International - UAE
- GAC Shipping (India) Pvt Ltd
- Leighton Contractors Pty Ltd - Australia
- Tamil Nadu electricity Board
- ASAPP Information Group - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Manunggal Multi Energi - Indonesia
- SMC Global Power, Philippines
- Energy Development Corp, Philippines
- Aditya Birla Group - India
- Bangladesh Power Developement Board
- Savvy Resources Ltd - HongKong
- Chamber of Mines of South Africa
- Wood Mackenzie - Singapore
- Africa Commodities Group - South Africa
- Renaissance Capital - South Africa
- SMG Consultants - Indonesia
- Essar Steel Hazira Ltd - India
- OPG Power Generation Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- Grasim Industreis Ltd - India
- Global Green Power PLC Corporation, Philippines
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