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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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Tuesday, 04 September 12
SHIP OWNERS' COMPETITION LEADS TO TANKER FIXTURES BELOW OPERATING COSTS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Ship owners operating in the VLCC tanker markets are increasingly finding it difficult to obtain even breakeven rates for their vessels, as competit ...
Tuesday, 04 September 12
ORPHEUS SECURES ADDITIONAL SIGNIFICANT KINTAP COAL PROJECT IN SOUTH KALIMANTAN
COALspot.com - Indonesian coal producer, Orpheus Energy (ASX:OEG) has announced that it has secured a 50% equity ownership in an additional tenement ...
Monday, 03 September 12
SHIPOWNERS TO WAIT FOR FURTHER PRICE REDUCTIONS IN THE SECOND HAND VESSEL MARKETS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
With September now upon us, shipbrokers are looking towards an interesting winter season, as ship owners are looking to capitalize on more second ha ...
Sunday, 02 September 12
ADAROS COAL ROYALTIES TO THE GOVERNMENT INCREASED BY 10.5 PERCENT Y-O-Y TO US$196.8 MILLION
COALspot.com - PT Adaro Energy Tbk (IDX: ADRO), the second largest power plant coal producer in Indonesia, announced its consolidated auditor-review ...
Saturday, 01 September 12
FALLING PRICES; BLEEDING MINERS
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) for October 2012 delivery lost 4.070 percent and 0.422 percent respectively on W-o-W and D- ...
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- Ministry of Transport, Egypt
- Thai Mozambique Logistica
- Interocean Group of Companies - India
- VISA Power Limited - India
- South Luzon Thermal Energy Corporation
- Siam City Cement PLC, Thailand
- Mjunction Services Limited - India
- Kumho Petrochemical, South Korea
- Jindal Steel & Power Ltd - India
- Parry Sugars Refinery, India
- IHS Mccloskey Coal Group - USA
- Marubeni Corporation - India
- Gujarat Electricity Regulatory Commission - India
- International Coal Ventures Pvt Ltd - India
- Bhatia International Limited - India
- GVK Power & Infra Limited - India
- PNOC Exploration Corporation - Philippines
- Madhucon Powers Ltd - India
- Bayan Resources Tbk. - Indonesia
- White Energy Company Limited
- Electricity Authority, New Zealand
- Kideco Jaya Agung - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Tamil Nadu electricity Board
- Meenaskhi Energy Private Limited - India
- Antam Resourcindo - Indonesia
- Videocon Industries ltd - India
- India Bulls Power Limited - India
- Cement Manufacturers Association - India
- Wood Mackenzie - Singapore
- Cigading International Bulk Terminal - Indonesia
- Lanco Infratech Ltd - India
- Ambuja Cements Ltd - India
- Global Green Power PLC Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Chamber of Mines of South Africa
- Rashtriya Ispat Nigam Limited - India
- PTC India Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- GMR Energy Limited - India
- Pendopo Energi Batubara - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Singapore Mercantile Exchange
- Oldendorff Carriers - Singapore
- Mercuria Energy - Indonesia
- Ind-Barath Power Infra Limited - India
- Energy Development Corp, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Parliament of New Zealand
- ASAPP Information Group - India
- Banpu Public Company Limited - Thailand
- Leighton Contractors Pty Ltd - Australia
- Billiton Holdings Pty Ltd - Australia
- Rio Tinto Coal - Australia
- Makarim & Taira - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Romanian Commodities Exchange
- San Jose City I Power Corp, Philippines
- Commonwealth Bank - Australia
- Global Coal Blending Company Limited - Australia
- Standard Chartered Bank - UAE
- McConnell Dowell - Australia
- Metalloyd Limited - United Kingdom
- Kartika Selabumi Mining - Indonesia
- Gujarat Sidhee Cement - India
- Mercator Lines Limited - India
- Merrill Lynch Commodities Europe
- Bharathi Cement Corporation - India
- OPG Power Generation Pvt Ltd - India
- Power Finance Corporation Ltd., India
- Siam City Cement - Thailand
- Holcim Trading Pte Ltd - Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- Maharashtra Electricity Regulatory Commission - India
- Kepco SPC Power Corporation, Philippines
- Bhoruka Overseas - Indonesia
- New Zealand Coal & Carbon
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Trasteel International SA, Italy
- Energy Link Ltd, New Zealand
- Bangladesh Power Developement Board
- Bulk Trading Sa - Switzerland
- Central Java Power - Indonesia
- Attock Cement Pakistan Limited
- Tata Chemicals Ltd - India
- Economic Council, Georgia
- Xindia Steels Limited - India
- Simpson Spence & Young - Indonesia
- Indogreen Group - Indonesia
- Carbofer General Trading SA - India
- Sarangani Energy Corporation, Philippines
- Coalindo Energy - Indonesia
- Posco Energy - South Korea
- SN Aboitiz Power Inc, Philippines
- Goldman Sachs - Singapore
- Renaissance Capital - South Africa
- SMG Consultants - Indonesia
- Timah Investasi Mineral - Indoneisa
- SMC Global Power, Philippines
- Jaiprakash Power Ventures ltd
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Salva Resources Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- Indika Energy - Indonesia
- Australian Commodity Traders Exchange
- Latin American Coal - Colombia
- Bukit Makmur.PT - Indonesia
- Coal and Oil Company - UAE
- Sinarmas Energy and Mining - Indonesia
- Malabar Cements Ltd - India
- Baramulti Group, Indonesia
- Samtan Co., Ltd - South Korea
- Africa Commodities Group - South Africa
- Heidelberg Cement - Germany
- PetroVietnam Power Coal Import and Supply Company
- Riau Bara Harum - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Australian Coal Association
- Borneo Indobara - Indonesia
- LBH Netherlands Bv - Netherlands
- Ministry of Finance - Indonesia
- Binh Thuan Hamico - Vietnam
- Manunggal Multi Energi - Indonesia
- The State Trading Corporation of India Ltd
- Toyota Tsusho Corporation, Japan
- Vizag Seaport Private Limited - India
- Dalmia Cement Bharat India
- Vedanta Resources Plc - India
- Price Waterhouse Coopers - Russia
- Vijayanagar Sugar Pvt Ltd - India
- Thiess Contractors Indonesia
- Deloitte Consulting - India
- ICICI Bank Limited - India
- The University of Queensland
- Bhushan Steel Limited - India
- PowerSource Philippines DevCo
- Global Business Power Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Maheswari Brothers Coal Limited - India
- Eastern Coal Council - USA
- Chettinad Cement Corporation Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Minerals Council of Australia
- Coastal Gujarat Power Limited - India
- CNBM International Corporation - China
- Georgia Ports Authority, United States
- Indian Energy Exchange, India
- Meralco Power Generation, Philippines
- Karaikal Port Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Agrawal Coal Company - India
- TeaM Sual Corporation - Philippines
- Therma Luzon, Inc, Philippines
- Ministry of Mines - Canada
- European Bulk Services B.V. - Netherlands
- Directorate Of Revenue Intelligence - India
- Altura Mining Limited, Indonesia
- Star Paper Mills Limited - India
- Central Electricity Authority - India
- London Commodity Brokers - England
- Indonesian Coal Mining Association
- Orica Mining Services - Indonesia
- Essar Steel Hazira Ltd - India
- Planning Commission, India
- Medco Energi Mining Internasional
- GAC Shipping (India) Pvt Ltd
- Petron Corporation, Philippines
- Semirara Mining Corp, Philippines
- Wilmar Investment Holdings
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Larsen & Toubro Limited - India
- Iligan Light & Power Inc, Philippines
- Alfred C Toepfer International GmbH - Germany
- Semirara Mining and Power Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Miang Besar Coal Terminal - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Bukit Baiduri Energy - Indonesia
- The Treasury - Australian Government
- Indo Tambangraya Megah - Indonesia
- Electricity Generating Authority of Thailand
- Kapuas Tunggal Persada - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Sical Logistics Limited - India
- IEA Clean Coal Centre - UK
- MS Steel International - UAE
- Kaltim Prima Coal - Indonesia
- Grasim Industreis Ltd - India
- Globalindo Alam Lestari - Indonesia
- Straits Asia Resources Limited - Singapore
- Directorate General of MIneral and Coal - Indonesia
- Savvy Resources Ltd - HongKong
- Aboitiz Power Corporation - Philippines
- Sojitz Corporation - Japan
- Mintek Dendrill Indonesia
- Kobexindo Tractors - Indoneisa
- Edison Trading Spa - Italy
- Intertek Mineral Services - Indonesia
- Orica Australia Pty. Ltd.
- Aditya Birla Group - India
- Uttam Galva Steels Limited - India
- Port Waratah Coal Services - Australia
- GN Power Mariveles Coal Plant, Philippines
- Sindya Power Generating Company Private Ltd
- Sakthi Sugars Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indian Oil Corporation Limited
- Formosa Plastics Group - Taiwan
- Independent Power Producers Association of India
- CIMB Investment Bank - Malaysia
- Eastern Energy - Thailand
- Barasentosa Lestari - Indonesia
- Anglo American - United Kingdom
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