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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, 25 August 12
FREIGHT RATES ARE EXPECTED TO BE STEADY NEXT WEEK - VISTAAR
COALspot.com - This week the indices showed some signs of improvement will all the segments moving up except for the handy size.
The BDI was marg ...
Saturday, 25 August 12
INDONESIAN COAL SWAP REMAINS STABLE AT LOW LEVEL
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) for October 2012 delivery gain 0.804 percent W-o-W on Friday (24 August 2012) closing but lost 0. ...
Thursday, 23 August 12
INDONESIA-INDIA, LARGE ECO SUPRA FIXED AT USD 6K FOR DELIVERY SOUTH CHINA - FEARNLEYS AS
Handy
The market continued the same trend as last week, low activity and holidays in some countries.
Rate wise unchanged, with US Gulf/Continent ...
Thursday, 23 August 12
EGCO GROUP EXPANDS TOWARDS INTEGRATED ENERGY BUSINESS WITH INVESTMENT IN INDONESIAS COAL MINE
Electricity Generating Public Company Limited or EGCO Group, the Thailand’s first Independent Power Producer has continually invaded foreign m ...
Thursday, 23 August 12
EGCO GROUP ANNOUNCES 2 BILLION BAHT PROFITS IN Q2/2012
Successfully Establishes Integrated Energy Business and Strengthen Investments in ASEAN
Mr. Sahust Pratuknukul, President of Electri ...
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- Bank of Tokyo Mitsubishi UFJ Ltd
- Deloitte Consulting - India
- Barasentosa Lestari - Indonesia
- MS Steel International - UAE
- Sical Logistics Limited - India
- Straits Asia Resources Limited - Singapore
- Tata Chemicals Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Banpu Public Company Limited - Thailand
- Timah Investasi Mineral - Indoneisa
- Ministry of Finance - Indonesia
- Carbofer General Trading SA - India
- Siam City Cement - Thailand
- Metalloyd Limited - United Kingdom
- Bukit Baiduri Energy - Indonesia
- London Commodity Brokers - England
- San Jose City I Power Corp, Philippines
- OPG Power Generation Pvt Ltd - India
- Vizag Seaport Private Limited - India
- Ambuja Cements Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Malabar Cements Ltd - India
- Rio Tinto Coal - Australia
- Anglo American - United Kingdom
- AsiaOL BioFuels Corp., Philippines
- IEA Clean Coal Centre - UK
- Interocean Group of Companies - India
- PNOC Exploration Corporation - Philippines
- Aditya Birla Group - India
- Bharathi Cement Corporation - India
- South Luzon Thermal Energy Corporation
- Electricity Authority, New Zealand
- Leighton Contractors Pty Ltd - Australia
- Asmin Koalindo Tuhup - Indonesia
- Meralco Power Generation, Philippines
- Independent Power Producers Association of India
- Kalimantan Lumbung Energi - Indonesia
- IHS Mccloskey Coal Group - USA
- Wood Mackenzie - Singapore
- Parliament of New Zealand
- Power Finance Corporation Ltd., India
- Karaikal Port Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- India Bulls Power Limited - India
- ASAPP Information Group - India
- Mintek Dendrill Indonesia
- Coastal Gujarat Power Limited - India
- Globalindo Alam Lestari - Indonesia
- Australian Coal Association
- CNBM International Corporation - China
- Heidelberg Cement - Germany
- Minerals Council of Australia
- Xindia Steels Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Grasim Industreis Ltd - India
- Medco Energi Mining Internasional
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Romanian Commodities Exchange
- Singapore Mercantile Exchange
- Borneo Indobara - Indonesia
- Savvy Resources Ltd - HongKong
- Therma Luzon, Inc, Philippines
- Indika Energy - Indonesia
- Orica Australia Pty. Ltd.
- Energy Link Ltd, New Zealand
- PTC India Limited - India
- Renaissance Capital - South Africa
- Meenaskhi Energy Private Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- CIMB Investment Bank - Malaysia
- Central Java Power - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Essar Steel Hazira Ltd - India
- Chamber of Mines of South Africa
- Port Waratah Coal Services - Australia
- Riau Bara Harum - Indonesia
- Thai Mozambique Logistica
- Bhatia International Limited - India
- Makarim & Taira - Indonesia
- Jindal Steel & Power Ltd - India
- Edison Trading Spa - Italy
- Mercuria Energy - Indonesia
- McConnell Dowell - Australia
- Chettinad Cement Corporation Ltd - India
- Salva Resources Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- Petron Corporation, Philippines
- New Zealand Coal & Carbon
- Mercator Lines Limited - India
- Latin American Coal - Colombia
- Coal and Oil Company - UAE
- GVK Power & Infra Limited - India
- Siam City Cement PLC, Thailand
- Sakthi Sugars Limited - India
- White Energy Company Limited
- ICICI Bank Limited - India
- Price Waterhouse Coopers - Russia
- Karbindo Abesyapradhi - Indoneisa
- Economic Council, Georgia
- Pendopo Energi Batubara - Indonesia
- Australian Commodity Traders Exchange
- Kohat Cement Company Ltd. - Pakistan
- SMG Consultants - Indonesia
- Marubeni Corporation - India
- Central Electricity Authority - India
- VISA Power Limited - India
- International Coal Ventures Pvt Ltd - India
- Cement Manufacturers Association - India
- Samtan Co., Ltd - South Korea
- Neyveli Lignite Corporation Ltd, - India
- Jaiprakash Power Ventures ltd
- Mjunction Services Limited - India
- SN Aboitiz Power Inc, Philippines
- Goldman Sachs - Singapore
- Manunggal Multi Energi - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Star Paper Mills Limited - India
- Bhoruka Overseas - Indonesia
- Altura Mining Limited, Indonesia
- Indonesian Coal Mining Association
- Krishnapatnam Port Company Ltd. - India
- Orica Mining Services - Indonesia
- Attock Cement Pakistan Limited
- Standard Chartered Bank - UAE
- LBH Netherlands Bv - Netherlands
- Baramulti Group, Indonesia
- Larsen & Toubro Limited - India
- Bhushan Steel Limited - India
- Kepco SPC Power Corporation, Philippines
- Posco Energy - South Korea
- Alfred C Toepfer International GmbH - Germany
- GMR Energy Limited - India
- Bulk Trading Sa - Switzerland
- Bangladesh Power Developement Board
- Africa Commodities Group - South Africa
- Kideco Jaya Agung - Indonesia
- Toyota Tsusho Corporation, Japan
- Antam Resourcindo - Indonesia
- Kaltim Prima Coal - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Iligan Light & Power Inc, Philippines
- Holcim Trading Pte Ltd - Singapore
- Dalmia Cement Bharat India
- Bahari Cakrawala Sebuku - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Formosa Plastics Group - Taiwan
- Trasteel International SA, Italy
- Oldendorff Carriers - Singapore
- Parry Sugars Refinery, India
- Thiess Contractors Indonesia
- Miang Besar Coal Terminal - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Indian Energy Exchange, India
- Indogreen Group - Indonesia
- Eastern Coal Council - USA
- GN Power Mariveles Coal Plant, Philippines
- Ceylon Electricity Board - Sri Lanka
- SMC Global Power, Philippines
- PowerSource Philippines DevCo
- Directorate Of Revenue Intelligence - India
- Wilmar Investment Holdings
- Global Green Power PLC Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Georgia Ports Authority, United States
- GAC Shipping (India) Pvt Ltd
- Merrill Lynch Commodities Europe
- Aboitiz Power Corporation - Philippines
- Coalindo Energy - Indonesia
- Kobexindo Tractors - Indoneisa
- Agrawal Coal Company - India
- Gujarat Electricity Regulatory Commission - India
- The University of Queensland
- Sojitz Corporation - Japan
- Electricity Generating Authority of Thailand
- Maharashtra Electricity Regulatory Commission - India
- Lanco Infratech Ltd - India
- Videocon Industries ltd - India
- Ministry of Transport, Egypt
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Kartika Selabumi Mining - Indonesia
- Semirara Mining Corp, Philippines
- Madhucon Powers Ltd - India
- Tamil Nadu electricity Board
- Kumho Petrochemical, South Korea
- European Bulk Services B.V. - Netherlands
- Indian Oil Corporation Limited
- Global Coal Blending Company Limited - Australia
- Uttam Galva Steels Limited - India
- The State Trading Corporation of India Ltd
- Gujarat Sidhee Cement - India
- Vedanta Resources Plc - India
- TeaM Sual Corporation - Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Simpson Spence & Young - Indonesia
- Sree Jayajothi Cements Limited - India
- Billiton Holdings Pty Ltd - Australia
- Commonwealth Bank - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Global Business Power Corporation, Philippines
- Eastern Energy - Thailand
- Energy Development Corp, Philippines
- Ministry of Mines - Canada
- Planning Commission, India
- Ind-Barath Power Infra Limited - India
- Bayan Resources Tbk. - Indonesia
- Intertek Mineral Services - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Sindya Power Generating Company Private Ltd
- The Treasury - Australian Government
- Binh Thuan Hamico - Vietnam
- Maheswari Brothers Coal Limited - India
- Bukit Makmur.PT - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
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