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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, 14 August 12
SAKARI SIGNS HEADS OF AGREEMENT TO ACQUIRE SIX COAL CONCESSIONS IN INDONESIA
COALspot.com - Sakari has signed a Heads of Agreement (HOA) to acquire a 100% interest in up to six IUPs, covering an area of over 29,000 hectares, ...
Tuesday, 14 August 12
UNCERTAIN FUTURE FOR DRY BULK PANAMAX SHIPS - DREWRY / HELLENIC SHIPPING
The dry bulk shipping market is in a poor state, with the Capesize segment the worst of all. Unfortunately, the latest analysis from Drewry Maritime ...
Monday, 13 August 12
5TH VIETNAM PORTS AND LOGISTICS 2012
Press Release - Co-hosted by VINAMARINE, the 5th Vietnam Ports and Logistics2012 will feature dedicated sessions on port and transport infrastructur ...
Monday, 13 August 12
ACTIVE DRY BULK FLEET INCREASES BY 8% SO FAR IN 2012 IN TERMS OF TONNAGE CAPACITY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
It’s no wonder that the dry bulk market has been tethering since the start of the year. the overflow of tonnage has been so enormous, that eve ...
Sunday, 12 August 12
COAL FREIGHT RATES FALL FLAT TO SOFT ON OVERSUPPLY, WEAK DEMAND - VISTAAR SINGAPROE
COALspot.com - The BDI continued its fall 10th August.
This week all segments were down including BDI down by 9.15 pct closing at 774 points .The ...
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- Gujarat Mineral Development Corp Ltd - India
- Dalmia Cement Bharat India
- Samtan Co., Ltd - South Korea
- OPG Power Generation Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- ASAPP Information Group - India
- South Luzon Thermal Energy Corporation
- Indo Tambangraya Megah - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Bukit Makmur.PT - Indonesia
- Videocon Industries ltd - India
- Economic Council, Georgia
- Kalimantan Lumbung Energi - Indonesia
- Eastern Coal Council - USA
- Global Green Power PLC Corporation, Philippines
- Anglo American - United Kingdom
- Ministry of Finance - Indonesia
- Baramulti Group, Indonesia
- London Commodity Brokers - England
- Bulk Trading Sa - Switzerland
- Maharashtra Electricity Regulatory Commission - India
- Meralco Power Generation, Philippines
- The Treasury - Australian Government
- Jaiprakash Power Ventures ltd
- Mercator Lines Limited - India
- Chettinad Cement Corporation Ltd - India
- Vedanta Resources Plc - India
- Krishnapatnam Port Company Ltd. - India
- Larsen & Toubro Limited - India
- Global Coal Blending Company Limited - Australia
- Salva Resources Pvt Ltd - India
- Energy Link Ltd, New Zealand
- Indonesian Coal Mining Association
- Ambuja Cements Ltd - India
- Coalindo Energy - Indonesia
- Orica Australia Pty. Ltd.
- Altura Mining Limited, Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Mercuria Energy - Indonesia
- Formosa Plastics Group - Taiwan
- Kaltim Prima Coal - Indonesia
- Minerals Council of Australia
- Directorate General of MIneral and Coal - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Straits Asia Resources Limited - Singapore
- Bhushan Steel Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Petrochimia International Co. Ltd.- Taiwan
- Simpson Spence & Young - Indonesia
- MS Steel International - UAE
- Bukit Baiduri Energy - Indonesia
- Tata Chemicals Ltd - India
- PNOC Exploration Corporation - Philippines
- Makarim & Taira - Indonesia
- New Zealand Coal & Carbon
- Australian Coal Association
- Sinarmas Energy and Mining - Indonesia
- Kartika Selabumi Mining - Indonesia
- Goldman Sachs - Singapore
- Indian Oil Corporation Limited
- Latin American Coal - Colombia
- Asmin Koalindo Tuhup - Indonesia
- Indian Energy Exchange, India
- Central Java Power - Indonesia
- Kideco Jaya Agung - Indonesia
- Marubeni Corporation - India
- Coal and Oil Company - UAE
- Intertek Mineral Services - Indonesia
- IEA Clean Coal Centre - UK
- Oldendorff Carriers - Singapore
- McConnell Dowell - Australia
- Wood Mackenzie - Singapore
- Trasteel International SA, Italy
- SMG Consultants - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Bukit Asam (Persero) Tbk - Indonesia
- PTC India Limited - India
- Leighton Contractors Pty Ltd - Australia
- Attock Cement Pakistan Limited
- Lanco Infratech Ltd - India
- Star Paper Mills Limited - India
- Bhoruka Overseas - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- CIMB Investment Bank - Malaysia
- Grasim Industreis Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Jindal Steel & Power Ltd - India
- White Energy Company Limited
- Parry Sugars Refinery, India
- Deloitte Consulting - India
- Singapore Mercantile Exchange
- TNB Fuel Sdn Bhd - Malaysia
- Metalloyd Limited - United Kingdom
- Central Electricity Authority - India
- Heidelberg Cement - Germany
- Cement Manufacturers Association - India
- Merrill Lynch Commodities Europe
- Planning Commission, India
- Vizag Seaport Private Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Binh Thuan Hamico - Vietnam
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Maheswari Brothers Coal Limited - India
- Power Finance Corporation Ltd., India
- Independent Power Producers Association of India
- Essar Steel Hazira Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- IHS Mccloskey Coal Group - USA
- Chamber of Mines of South Africa
- Uttam Galva Steels Limited - India
- Semirara Mining and Power Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- Interocean Group of Companies - India
- Electricity Authority, New Zealand
- Kobexindo Tractors - Indoneisa
- Iligan Light & Power Inc, Philippines
- Cigading International Bulk Terminal - Indonesia
- LBH Netherlands Bv - Netherlands
- Pipit Mutiara Jaya. PT, Indonesia
- Eastern Energy - Thailand
- Sarangani Energy Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Sical Logistics Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Pendopo Energi Batubara - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Edison Trading Spa - Italy
- Ministry of Transport, Egypt
- Timah Investasi Mineral - Indoneisa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- European Bulk Services B.V. - Netherlands
- Energy Development Corp, Philippines
- GAC Shipping (India) Pvt Ltd
- Aboitiz Power Corporation - Philippines
- Sakthi Sugars Limited - India
- Sree Jayajothi Cements Limited - India
- Toyota Tsusho Corporation, Japan
- Posco Energy - South Korea
- Antam Resourcindo - Indonesia
- Banpu Public Company Limited - Thailand
- Therma Luzon, Inc, Philippines
- Commonwealth Bank - Australia
- Miang Besar Coal Terminal - Indonesia
- Electricity Generating Authority of Thailand
- Indogreen Group - Indonesia
- Bangladesh Power Developement Board
- Kapuas Tunggal Persada - Indonesia
- Madhucon Powers Ltd - India
- Directorate Of Revenue Intelligence - India
- San Jose City I Power Corp, Philippines
- Meenaskhi Energy Private Limited - India
- Riau Bara Harum - Indonesia
- Indika Energy - Indonesia
- Thai Mozambique Logistica
- Agrawal Coal Company - India
- Mintek Dendrill Indonesia
- Barasentosa Lestari - Indonesia
- PowerSource Philippines DevCo
- The University of Queensland
- Carbofer General Trading SA - India
- Georgia Ports Authority, United States
- Petron Corporation, Philippines
- GMR Energy Limited - India
- Xindia Steels Limited - India
- CNBM International Corporation - China
- Semirara Mining Corp, Philippines
- Orica Mining Services - Indonesia
- Bayan Resources Tbk. - Indonesia
- Karaikal Port Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- Medco Energi Mining Internasional
- Aditya Birla Group - India
- Port Waratah Coal Services - Australia
- Kohat Cement Company Ltd. - Pakistan
- Africa Commodities Group - South Africa
- Malabar Cements Ltd - India
- Standard Chartered Bank - UAE
- Rio Tinto Coal - Australia
- Bhatia International Limited - India
- SN Aboitiz Power Inc, Philippines
- Ind-Barath Power Infra Limited - India
- Thiess Contractors Indonesia
- International Coal Ventures Pvt Ltd - India
- India Bulls Power Limited - India
- Kepco SPC Power Corporation, Philippines
- TeaM Sual Corporation - Philippines
- Billiton Holdings Pty Ltd - Australia
- Siam City Cement - Thailand
- Ministry of Mines - Canada
- Kumho Petrochemical, South Korea
- Renaissance Capital - South Africa
- GVK Power & Infra Limited - India
- Coastal Gujarat Power Limited - India
- The State Trading Corporation of India Ltd
- Borneo Indobara - Indonesia
- Australian Commodity Traders Exchange
- Gujarat Electricity Regulatory Commission - India
- Savvy Resources Ltd - HongKong
- Parliament of New Zealand
- VISA Power Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Karbindo Abesyapradhi - Indoneisa
- Sindya Power Generating Company Private Ltd
- Romanian Commodities Exchange
- SMC Global Power, Philippines
- Ceylon Electricity Board - Sri Lanka
- Mjunction Services Limited - India
- Global Business Power Corporation, Philippines
- Gujarat Sidhee Cement - India
- Sojitz Corporation - Japan
- Tamil Nadu electricity Board
- Wilmar Investment Holdings
- AsiaOL BioFuels Corp., Philippines
- Bharathi Cement Corporation - India
- Siam City Cement PLC, Thailand
- ICICI Bank Limited - India
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