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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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Saturday, 08 September 12
INDO INDIA ROUTE FREIGHT FOR SUPRAMAX REMAINS STRONG - CAPT. REDDY
COALspot.com - The freight market overall remained weak and except for cape index all other sectors were down. The biggest drop was in the Panamax s ...
Saturday, 08 September 12
RIO TINTO COMPLETES ACQUISITION OF BHP BILLITON'S INTERESTS IN RICHARDS BAY MINERALS
Rio Tinto has doubled its holding in Richards Bay Minerals (RBM) following the completion of its acquisition of BHP Billiton’s entire inte ...
Friday, 07 September 12
HBA GAINS $ 1.56 PER MT IN SEPTEMBER
COALspot.com - The Indonesian government’s declared coal reference price has gained US$ 1.56 per MT M-o-M. This is the first gain ...
Thursday, 06 September 12
SOME ANCHORED PANAMAX VESSELS WAITING FOR CARGOS TO COME
Handy
According to Fearnleys weekly report, in the smaller segments Fearnleys sees little to no changes since last week. There are still entering s ...
Thursday, 06 September 12
DRY BULK CARRIERS STILL IN HIGH DEMAND AMONG SHIP OWNERS, BUT NEWBUILDING ACTIVITY SLIDES IN AUGUST - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The slide of the dry bulk market this year hasn't abated ship owners' appetite for dry bulk carriers, as evidenced by the steady interest expresse ...
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- Malabar Cements Ltd - India
- Chettinad Cement Corporation Ltd - India
- Jaiprakash Power Ventures ltd
- Wood Mackenzie - Singapore
- Meenaskhi Energy Private Limited - India
- Aditya Birla Group - India
- Eastern Coal Council - USA
- Cement Manufacturers Association - India
- Toyota Tsusho Corporation, Japan
- Marubeni Corporation - India
- Wilmar Investment Holdings
- Semirara Mining Corp, Philippines
- Trasteel International SA, Italy
- Straits Asia Resources Limited - Singapore
- Indian Oil Corporation Limited
- Kaltim Prima Coal - Indonesia
- PNOC Exploration Corporation - Philippines
- Indogreen Group - Indonesia
- Directorate Of Revenue Intelligence - India
- Independent Power Producers Association of India
- South Luzon Thermal Energy Corporation
- Sarangani Energy Corporation, Philippines
- Rio Tinto Coal - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Iligan Light & Power Inc, Philippines
- San Jose City I Power Corp, Philippines
- Mercator Lines Limited - India
- Ceylon Electricity Board - Sri Lanka
- Karbindo Abesyapradhi - Indoneisa
- Sakthi Sugars Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Makarim & Taira - Indonesia
- Riau Bara Harum - Indonesia
- SN Aboitiz Power Inc, Philippines
- Global Green Power PLC Corporation, Philippines
- Indonesian Coal Mining Association
- PetroVietnam Power Coal Import and Supply Company
- CNBM International Corporation - China
- Eastern Energy - Thailand
- Formosa Plastics Group - Taiwan
- Central Electricity Authority - India
- International Coal Ventures Pvt Ltd - India
- Minerals Council of Australia
- AsiaOL BioFuels Corp., Philippines
- Salva Resources Pvt Ltd - India
- Thiess Contractors Indonesia
- Alfred C Toepfer International GmbH - Germany
- Maheswari Brothers Coal Limited - India
- New Zealand Coal & Carbon
- Gujarat Sidhee Cement - India
- Sojitz Corporation - Japan
- Meralco Power Generation, Philippines
- Kobexindo Tractors - Indoneisa
- Videocon Industries ltd - India
- SMG Consultants - Indonesia
- India Bulls Power Limited - India
- Essar Steel Hazira Ltd - India
- Price Waterhouse Coopers - Russia
- Latin American Coal - Colombia
- TeaM Sual Corporation - Philippines
- Tamil Nadu electricity Board
- The University of Queensland
- Siam City Cement - Thailand
- Coastal Gujarat Power Limited - India
- Romanian Commodities Exchange
- Petrochimia International Co. Ltd.- Taiwan
- Xindia Steels Limited - India
- McConnell Dowell - Australia
- Petron Corporation, Philippines
- Metalloyd Limited - United Kingdom
- Directorate General of MIneral and Coal - Indonesia
- Global Coal Blending Company Limited - Australia
- Madhucon Powers Ltd - India
- Australian Commodity Traders Exchange
- Orica Mining Services - Indonesia
- Altura Mining Limited, Indonesia
- Savvy Resources Ltd - HongKong
- Kapuas Tunggal Persada - Indonesia
- Energy Development Corp, Philippines
- Simpson Spence & Young - Indonesia
- GAC Shipping (India) Pvt Ltd
- GVK Power & Infra Limited - India
- Leighton Contractors Pty Ltd - Australia
- SMC Global Power, Philippines
- IEA Clean Coal Centre - UK
- Jorong Barutama Greston.PT - Indonesia
- Orica Australia Pty. Ltd.
- PowerSource Philippines DevCo
- Interocean Group of Companies - India
- Billiton Holdings Pty Ltd - Australia
- Deloitte Consulting - India
- Globalindo Alam Lestari - Indonesia
- Intertek Mineral Services - Indonesia
- Bukit Makmur.PT - Indonesia
- Bharathi Cement Corporation - India
- The State Trading Corporation of India Ltd
- Pipit Mutiara Jaya. PT, Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Standard Chartered Bank - UAE
- Electricity Authority, New Zealand
- GN Power Mariveles Coal Plant, Philippines
- Commonwealth Bank - Australia
- Carbofer General Trading SA - India
- Krishnapatnam Port Company Ltd. - India
- Singapore Mercantile Exchange
- Energy Link Ltd, New Zealand
- Aboitiz Power Corporation - Philippines
- Star Paper Mills Limited - India
- Larsen & Toubro Limited - India
- Grasim Industreis Ltd - India
- Kepco SPC Power Corporation, Philippines
- Port Waratah Coal Services - Australia
- Bhoruka Overseas - Indonesia
- Global Business Power Corporation, Philippines
- Bangladesh Power Developement Board
- Chamber of Mines of South Africa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Banpu Public Company Limited - Thailand
- Therma Luzon, Inc, Philippines
- Sinarmas Energy and Mining - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Renaissance Capital - South Africa
- Coal and Oil Company - UAE
- Samtan Co., Ltd - South Korea
- Sindya Power Generating Company Private Ltd
- Goldman Sachs - Singapore
- Cigading International Bulk Terminal - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Merrill Lynch Commodities Europe
- Ministry of Finance - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Georgia Ports Authority, United States
- Medco Energi Mining Internasional
- Miang Besar Coal Terminal - Indonesia
- Oldendorff Carriers - Singapore
- Jindal Steel & Power Ltd - India
- IHS Mccloskey Coal Group - USA
- Ind-Barath Power Infra Limited - India
- London Commodity Brokers - England
- Ministry of Transport, Egypt
- Karaikal Port Pvt Ltd - India
- Dalmia Cement Bharat India
- Bhushan Steel Limited - India
- Indian Energy Exchange, India
- Indo Tambangraya Megah - Indonesia
- Pendopo Energi Batubara - Indonesia
- Central Java Power - Indonesia
- Sree Jayajothi Cements Limited - India
- Parry Sugars Refinery, India
- Binh Thuan Hamico - Vietnam
- Electricity Generating Authority of Thailand
- Uttam Galva Steels Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Bukit Baiduri Energy - Indonesia
- Bulk Trading Sa - Switzerland
- VISA Power Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Kartika Selabumi Mining - Indonesia
- Posco Energy - South Korea
- Kumho Petrochemical, South Korea
- Gujarat Mineral Development Corp Ltd - India
- Manunggal Multi Energi - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Coalindo Energy - Indonesia
- Mintek Dendrill Indonesia
- LBH Netherlands Bv - Netherlands
- Kideco Jaya Agung - Indonesia
- Agrawal Coal Company - India
- Siam City Cement PLC, Thailand
- European Bulk Services B.V. - Netherlands
- Asmin Koalindo Tuhup - Indonesia
- Baramulti Group, Indonesia
- Mercuria Energy - Indonesia
- Vizag Seaport Private Limited - India
- GMR Energy Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Edison Trading Spa - Italy
- White Energy Company Limited
- Australian Coal Association
- Rashtriya Ispat Nigam Limited - India
- Holcim Trading Pte Ltd - Singapore
- Tata Chemicals Ltd - India
- OPG Power Generation Pvt Ltd - India
- Ministry of Mines - Canada
- ICICI Bank Limited - India
- Sical Logistics Limited - India
- ASAPP Information Group - India
- Indika Energy - Indonesia
- Economic Council, Georgia
- Vedanta Resources Plc - India
- Timah Investasi Mineral - Indoneisa
- Lanco Infratech Ltd - India
- Antam Resourcindo - Indonesia
- Power Finance Corporation Ltd., India
- Parliament of New Zealand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Mjunction Services Limited - India
- CIMB Investment Bank - Malaysia
- Barasentosa Lestari - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Anglo American - United Kingdom
- Planning Commission, India
- Thai Mozambique Logistica
- Borneo Indobara - Indonesia
- Attock Cement Pakistan Limited
- PTC India Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Bhatia International Limited - India
- Bayan Resources Tbk. - Indonesia
- Africa Commodities Group - South Africa
- Heidelberg Cement - Germany
- The Treasury - Australian Government
- Ambuja Cements Ltd - India
- MS Steel International - UAE
- Kalimantan Lumbung Energi - Indonesia
- Gujarat Electricity Regulatory Commission - India
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