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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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Wednesday, 29 August 12
COLOMBIA'S MINING BOOM: PART ONE - JOSEPH KIRSCHKE
COALspot.com - Colombia stands before one of the potentially largest, most diversified mining booms in the world. Untold reserves of gold, coal, cop ...
Wednesday, 29 August 12
SECOND HAND VESSELS IN HIGH DEMAND DESPITE SUMMER SEASON - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Despite the slow summer season, ship owners appear to be rather keen in acquiring some modern second hand tonnage at "knock-down" prices. ...
Monday, 27 August 12
BUMI BOOKS $322.1 MILLION NET LOSS IN 1H 2012 IN SPITE OF 8.6 PERCENT INCREASE IN SALES REVENUE
PT Bumi Resources Tbk, the single largest coal producer and exporter in Indonesia announces its first half financial report for the ...
Monday, 27 August 12
OVER 200 FOREIGN COMPANIES AND ENERGY MAJORS EXPECTED AT 2ND MOGP SUMMIT IN YANGON
Singapore based CMT and Machinery & Solutions Co. Ltd (M&S) announce that the 2nd MOGP Summit will be held on 3-6 September at the Sedona ho ...
Sunday, 26 August 12
SOUTH AFRICAN COAL OVERVIEW
South Africa's indigenous energy resource base is dominated by coal.
Internationally, coal is the most widely used primary fuel, accounting for ...
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- Gujarat Sidhee Cement - India
- Indian Energy Exchange, India
- Neyveli Lignite Corporation Ltd, - India
- Anglo American - United Kingdom
- Central Electricity Authority - India
- Altura Mining Limited, Indonesia
- PTC India Limited - India
- Edison Trading Spa - Italy
- Toyota Tsusho Corporation, Japan
- Metalloyd Limited - United Kingdom
- Therma Luzon, Inc, Philippines
- Coastal Gujarat Power Limited - India
- TeaM Sual Corporation - Philippines
- Kaltim Prima Coal - Indonesia
- Petron Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- PNOC Exploration Corporation - Philippines
- Videocon Industries ltd - India
- Rio Tinto Coal - Australia
- Bukit Baiduri Energy - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Indonesian Coal Mining Association
- Borneo Indobara - Indonesia
- Grasim Industreis Ltd - India
- Posco Energy - South Korea
- Medco Energi Mining Internasional
- Standard Chartered Bank - UAE
- Economic Council, Georgia
- Energy Development Corp, Philippines
- Chamber of Mines of South Africa
- Vijayanagar Sugar Pvt Ltd - India
- Sakthi Sugars Limited - India
- Sical Logistics Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Vizag Seaport Private Limited - India
- Sree Jayajothi Cements Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Oldendorff Carriers - Singapore
- IEA Clean Coal Centre - UK
- Maheswari Brothers Coal Limited - India
- Gujarat Electricity Regulatory Commission - India
- Petrochimia International Co. Ltd.- Taiwan
- Miang Besar Coal Terminal - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- CNBM International Corporation - China
- Eastern Energy - Thailand
- Sojitz Corporation - Japan
- Port Waratah Coal Services - Australia
- South Luzon Thermal Energy Corporation
- Iligan Light & Power Inc, Philippines
- Independent Power Producers Association of India
- Goldman Sachs - Singapore
- Africa Commodities Group - South Africa
- Wilmar Investment Holdings
- Bayan Resources Tbk. - Indonesia
- SMC Global Power, Philippines
- Directorate General of MIneral and Coal - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Antam Resourcindo - Indonesia
- Aboitiz Power Corporation - Philippines
- Baramulti Group, Indonesia
- Banpu Public Company Limited - Thailand
- Mercator Lines Limited - India
- New Zealand Coal & Carbon
- Semirara Mining Corp, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Orica Australia Pty. Ltd.
- Jaiprakash Power Ventures ltd
- Malabar Cements Ltd - India
- Madhucon Powers Ltd - India
- Bukit Makmur.PT - Indonesia
- Eastern Coal Council - USA
- Ministry of Transport, Egypt
- GVK Power & Infra Limited - India
- MS Steel International - UAE
- Timah Investasi Mineral - Indoneisa
- Georgia Ports Authority, United States
- Ind-Barath Power Infra Limited - India
- Bulk Trading Sa - Switzerland
- Ambuja Cements Ltd - India
- Marubeni Corporation - India
- Intertek Mineral Services - Indonesia
- IHS Mccloskey Coal Group - USA
- OPG Power Generation Pvt Ltd - India
- Siam City Cement - Thailand
- Karbindo Abesyapradhi - Indoneisa
- ASAPP Information Group - India
- Central Java Power - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Global Coal Blending Company Limited - Australia
- SN Aboitiz Power Inc, Philippines
- Directorate Of Revenue Intelligence - India
- London Commodity Brokers - England
- Ministry of Mines - Canada
- Binh Thuan Hamico - Vietnam
- Carbofer General Trading SA - India
- Pendopo Energi Batubara - Indonesia
- Thiess Contractors Indonesia
- Bhoruka Overseas - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Mjunction Services Limited - India
- Straits Asia Resources Limited - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- San Jose City I Power Corp, Philippines
- Coal and Oil Company - UAE
- Thai Mozambique Logistica
- Minerals Council of Australia
- Australian Commodity Traders Exchange
- Ceylon Electricity Board - Sri Lanka
- Deloitte Consulting - India
- Salva Resources Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Romanian Commodities Exchange
- Sarangani Energy Corporation, Philippines
- Tamil Nadu electricity Board
- Global Green Power PLC Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Samtan Co., Ltd - South Korea
- International Coal Ventures Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- Indo Tambangraya Megah - Indonesia
- Wood Mackenzie - Singapore
- Meralco Power Generation, Philippines
- LBH Netherlands Bv - Netherlands
- Ministry of Finance - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Global Business Power Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Cement Manufacturers Association - India
- SMG Consultants - Indonesia
- Simpson Spence & Young - Indonesia
- Kobexindo Tractors - Indoneisa
- Kepco SPC Power Corporation, Philippines
- Formosa Plastics Group - Taiwan
- India Bulls Power Limited - India
- The University of Queensland
- Kideco Jaya Agung - Indonesia
- Electricity Generating Authority of Thailand
- GMR Energy Limited - India
- The Treasury - Australian Government
- PowerSource Philippines DevCo
- Siam City Cement PLC, Thailand
- GN Power Mariveles Coal Plant, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- VISA Power Limited - India
- AsiaOL BioFuels Corp., Philippines
- GAC Shipping (India) Pvt Ltd
- Indian Oil Corporation Limited
- Interocean Group of Companies - India
- Cigading International Bulk Terminal - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Meenaskhi Energy Private Limited - India
- Indika Energy - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Commonwealth Bank - Australia
- Billiton Holdings Pty Ltd - Australia
- Manunggal Multi Energi - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Price Waterhouse Coopers - Russia
- Attock Cement Pakistan Limited
- Energy Link Ltd, New Zealand
- Parry Sugars Refinery, India
- Xindia Steels Limited - India
- Bhatia International Limited - India
- Karaikal Port Pvt Ltd - India
- Makarim & Taira - Indonesia
- Bharathi Cement Corporation - India
- Renaissance Capital - South Africa
- Uttam Galva Steels Limited - India
- Semirara Mining and Power Corporation, Philippines
- Merrill Lynch Commodities Europe
- Kapuas Tunggal Persada - Indonesia
- Jindal Steel & Power Ltd - India
- Barasentosa Lestari - Indonesia
- Larsen & Toubro Limited - India
- Lanco Infratech Ltd - India
- Tata Chemicals Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Indogreen Group - Indonesia
- Electricity Authority, New Zealand
- Power Finance Corporation Ltd., India
- Bhushan Steel Limited - India
- Dalmia Cement Bharat India
- CIMB Investment Bank - Malaysia
- Globalindo Alam Lestari - Indonesia
- European Bulk Services B.V. - Netherlands
- ICICI Bank Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Chettinad Cement Corporation Ltd - India
- Parliament of New Zealand
- Riau Bara Harum - Indonesia
- McConnell Dowell - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Vedanta Resources Plc - India
- Planning Commission, India
- Mercuria Energy - Indonesia
- The State Trading Corporation of India Ltd
- Sindya Power Generating Company Private Ltd
- Savvy Resources Ltd - HongKong
- Trasteel International SA, Italy
- Latin American Coal - Colombia
- Essar Steel Hazira Ltd - India
- Singapore Mercantile Exchange
- Mintek Dendrill Indonesia
- Star Paper Mills Limited - India
- Orica Mining Services - Indonesia
- White Energy Company Limited
- Rashtriya Ispat Nigam Limited - India
- Australian Coal Association
- Agrawal Coal Company - India
- Heidelberg Cement - Germany
- Aditya Birla Group - India
- Kumho Petrochemical, South Korea
- Coalindo Energy - Indonesia
- Bangladesh Power Developement Board
- Bukit Asam (Persero) Tbk - Indonesia
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