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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, 01 September 12
PANAMAX FREIGHT RATES UNDER PRESSURE FROM LOW DEMAND - VISTAAR
COALspot.com - This week the freight market was weak with mixed results.
The BDI was down by 1.95 pct closing at 703 points, however there was so ...
Friday, 31 August 12
ADVERSE SHIPPING MARKET CONDITIONS SHORTENS LIFE SPAN OF VESSELS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The adverse conditions which have been put in place in the world's freight markets, means that ship owners are forced to scrap vessels of a much yo ...
Thursday, 30 August 12
INDO-INDIA, LARGE ECO SUPRA NOW FIXED AT USD 7K FOR DELIVERY SINGAPORE - FEARNLEYS AS
Handy
The Supra market continued its negative trend with little fresh business entering the market. Continent positions fixed around USD 4k for tri ...
Thursday, 30 August 12
DRY BULK MARKET STILL LOOKING OUT FOR BETTER DAYS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
With things in China moving slowly this week, as a result of holidays, it’s no surprise that the latest positive trend in the dry bulk market ...
Wednesday, 29 August 12
COLOMBIA'S MINING BOOM: PART TWO - JOSEPH KIRSCHKE
One of the most prominent casualties of Canada's entry into the Colombian mining sector has been a priest named Jose Reynal-Restrepo. Last Septembe ...
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- Xindia Steels Limited - India
- Riau Bara Harum - Indonesia
- Medco Energi Mining Internasional
- McConnell Dowell - Australia
- South Luzon Thermal Energy Corporation
- Heidelberg Cement - Germany
- Meralco Power Generation, Philippines
- Bangladesh Power Developement Board
- Holcim Trading Pte Ltd - Singapore
- Dalmia Cement Bharat India
- Mercuria Energy - Indonesia
- Sakthi Sugars Limited - India
- Leighton Contractors Pty Ltd - Australia
- Grasim Industreis Ltd - India
- Jindal Steel & Power Ltd - India
- Agrawal Coal Company - India
- Rashtriya Ispat Nigam Limited - India
- Vizag Seaport Private Limited - India
- SN Aboitiz Power Inc, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Metalloyd Limited - United Kingdom
- SMC Global Power, Philippines
- PNOC Exploration Corporation - Philippines
- PetroVietnam Power Coal Import and Supply Company
- Anglo American - United Kingdom
- Indo Tambangraya Megah - Indonesia
- Indian Oil Corporation Limited
- Mjunction Services Limited - India
- Kobexindo Tractors - Indoneisa
- Oldendorff Carriers - Singapore
- Electricity Authority, New Zealand
- Miang Besar Coal Terminal - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Port Waratah Coal Services - Australia
- Ceylon Electricity Board - Sri Lanka
- Siam City Cement PLC, Thailand
- Posco Energy - South Korea
- PowerSource Philippines DevCo
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Krishnapatnam Port Company Ltd. - India
- MS Steel International - UAE
- Formosa Plastics Group - Taiwan
- Coal and Oil Company - UAE
- Sarangani Energy Corporation, Philippines
- Georgia Ports Authority, United States
- Parry Sugars Refinery, India
- Cement Manufacturers Association - India
- Kumho Petrochemical, South Korea
- Bharathi Cement Corporation - India
- Bayan Resources Tbk. - Indonesia
- CIMB Investment Bank - Malaysia
- International Coal Ventures Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- Therma Luzon, Inc, Philippines
- ASAPP Information Group - India
- Semirara Mining and Power Corporation, Philippines
- Electricity Generating Authority of Thailand
- Eastern Coal Council - USA
- TNB Fuel Sdn Bhd - Malaysia
- Meenaskhi Energy Private Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Directorate General of MIneral and Coal - Indonesia
- ICICI Bank Limited - India
- Orica Australia Pty. Ltd.
- Energy Development Corp, Philippines
- Tata Chemicals Ltd - India
- Central Java Power - Indonesia
- Simpson Spence & Young - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Intertek Mineral Services - Indonesia
- GMR Energy Limited - India
- India Bulls Power Limited - India
- Latin American Coal - Colombia
- GVK Power & Infra Limited - India
- Salva Resources Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Gujarat Sidhee Cement - India
- Economic Council, Georgia
- PTC India Limited - India
- GN Power Mariveles Coal Plant, Philippines
- AsiaOL BioFuels Corp., Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kideco Jaya Agung - Indonesia
- Coalindo Energy - Indonesia
- Banpu Public Company Limited - Thailand
- Petron Corporation, Philippines
- Independent Power Producers Association of India
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- Kalimantan Lumbung Energi - Indonesia
- Antam Resourcindo - Indonesia
- Karaikal Port Pvt Ltd - India
- Carbofer General Trading SA - India
- Edison Trading Spa - Italy
- Savvy Resources Ltd - HongKong
- Coastal Gujarat Power Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Central Electricity Authority - India
- Timah Investasi Mineral - Indoneisa
- Alfred C Toepfer International GmbH - Germany
- Planning Commission, India
- San Jose City I Power Corp, Philippines
- Romanian Commodities Exchange
- Jaiprakash Power Ventures ltd
- Deloitte Consulting - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Malabar Cements Ltd - India
- Ministry of Finance - Indonesia
- Renaissance Capital - South Africa
- Merrill Lynch Commodities Europe
- Borneo Indobara - Indonesia
- Chamber of Mines of South Africa
- IHS Mccloskey Coal Group - USA
- Star Paper Mills Limited - India
- GAC Shipping (India) Pvt Ltd
- Marubeni Corporation - India
- Toyota Tsusho Corporation, Japan
- Vijayanagar Sugar Pvt Ltd - India
- Essar Steel Hazira Ltd - India
- Lanco Infratech Ltd - India
- Bhoruka Overseas - Indonesia
- Ambuja Cements Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Power Finance Corporation Ltd., India
- Sojitz Corporation - Japan
- Samtan Co., Ltd - South Korea
- Interocean Group of Companies - India
- Minerals Council of Australia
- Straits Asia Resources Limited - Singapore
- Australian Commodity Traders Exchange
- Price Waterhouse Coopers - Russia
- IEA Clean Coal Centre - UK
- Rio Tinto Coal - Australia
- Mercator Lines Limited - India
- Standard Chartered Bank - UAE
- Energy Link Ltd, New Zealand
- Commonwealth Bank - Australia
- Sical Logistics Limited - India
- Africa Commodities Group - South Africa
- VISA Power Limited - India
- Bhushan Steel Limited - India
- Bhatia International Limited - India
- Aboitiz Power Corporation - Philippines
- Singapore Mercantile Exchange
- Larsen & Toubro Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- New Zealand Coal & Carbon
- Sindya Power Generating Company Private Ltd
- Maheswari Brothers Coal Limited - India
- Barasentosa Lestari - Indonesia
- TeaM Sual Corporation - Philippines
- Aditya Birla Group - India
- Goldman Sachs - Singapore
- Global Business Power Corporation, Philippines
- SMG Consultants - Indonesia
- Indonesian Coal Mining Association
- Baramulti Group, Indonesia
- Uttam Galva Steels Limited - India
- Videocon Industries ltd - India
- Orica Mining Services - Indonesia
- Australian Coal Association
- Offshore Bulk Terminal Pte Ltd, Singapore
- Pendopo Energi Batubara - Indonesia
- Kepco SPC Power Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Ind-Barath Power Infra Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- OPG Power Generation Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Kapuas Tunggal Persada - Indonesia
- White Energy Company Limited
- Altura Mining Limited, Indonesia
- Mintek Dendrill Indonesia
- Thai Mozambique Logistica
- Parliament of New Zealand
- Billiton Holdings Pty Ltd - Australia
- Kaltim Prima Coal - Indonesia
- Manunggal Multi Energi - Indonesia
- Ministry of Transport, Egypt
- The State Trading Corporation of India Ltd
- LBH Netherlands Bv - Netherlands
- Indogreen Group - Indonesia
- Wood Mackenzie - Singapore
- Attock Cement Pakistan Limited
- CNBM International Corporation - China
- Globalindo Alam Lestari - Indonesia
- Bukit Makmur.PT - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Madhucon Powers Ltd - India
- Tamil Nadu electricity Board
- European Bulk Services B.V. - Netherlands
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ministry of Mines - Canada
- Eastern Energy - Thailand
- The University of Queensland
- Global Coal Blending Company Limited - Australia
- Sree Jayajothi Cements Limited - India
- Trasteel International SA, Italy
- Semirara Mining Corp, Philippines
- Binh Thuan Hamico - Vietnam
- Chettinad Cement Corporation Ltd - India
- The Treasury - Australian Government
- Makarim & Taira - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Directorate Of Revenue Intelligence - India
- Kartika Selabumi Mining - Indonesia
- Indika Energy - Indonesia
- London Commodity Brokers - England
- Siam City Cement - Thailand
- Indian Energy Exchange, India
- Kohat Cement Company Ltd. - Pakistan
- Wilmar Investment Holdings
- Bukit Baiduri Energy - Indonesia
- Vedanta Resources Plc - India
- Thiess Contractors Indonesia
- Global Green Power PLC Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
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