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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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Monday, 06 August 12
3RD ANNUAL INDONESIA POWER
Press Release - 3rd Annual Indonesia Power is Indonesia’s premier power event, where commercial opportunities and new projects are identified. ...
Monday, 06 August 12
COAL EXPORTS COULD ADD $2B TO $6B ANNUALLY TO U.S. ECONOMY - HELLENIC SHIPPING
Business groups backing Pacific Northwest coal export proposals on Thursday lauded a new report that claims increased U.S. coal exports could bring ...
Sunday, 05 August 12
SUB-BIT INDONESIA COAL SWAPS ARE WAY UP
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) for September 2012 delivery gain 1.36 percent on Friday (3 August 2012) closing W-o-W but gained& ...
Sunday, 05 August 12
INDONESIA'S ADARO TRIMS PRODUCTION FORECAST, CITES BAD ECONOMY - THE JAKARTA GLOBE
The Jakarta globe reported that, Adaro Energy, the country’s second-largest coal producer, has cut its annual production forecast to between ...
Sunday, 05 August 12
DRY BULK FREIGHT MARKET TO STAY WEAK NEXT COUPLE OF WEEKS - VISTAAR
COALspot.com - The freight market continued to soften further in all segments.
The BDI was down by 8.68 pct closing at 852 points. The cape index ...
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- Cement Manufacturers Association - India
- Anglo American - United Kingdom
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- SMG Consultants - Indonesia
- Global Business Power Corporation, Philippines
- Energy Development Corp, Philippines
- Australian Coal Association
- Minerals Council of Australia
- Altura Mining Limited, Indonesia
- Coalindo Energy - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Tamil Nadu electricity Board
- VISA Power Limited - India
- Gujarat Electricity Regulatory Commission - India
- Dalmia Cement Bharat India
- Bukit Makmur.PT - Indonesia
- Deloitte Consulting - India
- Pendopo Energi Batubara - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Global Coal Blending Company Limited - Australia
- Carbofer General Trading SA - India
- Timah Investasi Mineral - Indoneisa
- Kaltim Prima Coal - Indonesia
- Manunggal Multi Energi - Indonesia
- Mercator Lines Limited - India
- Coal and Oil Company - UAE
- Posco Energy - South Korea
- New Zealand Coal & Carbon
- Edison Trading Spa - Italy
- IHS Mccloskey Coal Group - USA
- Billiton Holdings Pty Ltd - Australia
- Sakthi Sugars Limited - India
- Sojitz Corporation - Japan
- Aditya Birla Group - India
- MS Steel International - UAE
- Sree Jayajothi Cements Limited - India
- Salva Resources Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- Central Electricity Authority - India
- Meenaskhi Energy Private Limited - India
- The State Trading Corporation of India Ltd
- TNB Fuel Sdn Bhd - Malaysia
- Sinarmas Energy and Mining - Indonesia
- Kideco Jaya Agung - Indonesia
- Romanian Commodities Exchange
- Renaissance Capital - South Africa
- Samtan Co., Ltd - South Korea
- Gujarat Sidhee Cement - India
- Mjunction Services Limited - India
- Metalloyd Limited - United Kingdom
- Commonwealth Bank - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kepco SPC Power Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- PTC India Limited - India
- Uttam Galva Steels Limited - India
- Binh Thuan Hamico - Vietnam
- Vedanta Resources Plc - India
- Makarim & Taira - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Krishnapatnam Port Company Ltd. - India
- Leighton Contractors Pty Ltd - Australia
- Parliament of New Zealand
- Bayan Resources Tbk. - Indonesia
- Indonesian Coal Mining Association
- LBH Netherlands Bv - Netherlands
- PowerSource Philippines DevCo
- Gujarat Mineral Development Corp Ltd - India
- Toyota Tsusho Corporation, Japan
- India Bulls Power Limited - India
- Ministry of Mines - Canada
- International Coal Ventures Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Economic Council, Georgia
- Savvy Resources Ltd - HongKong
- Independent Power Producers Association of India
- CIMB Investment Bank - Malaysia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Directorate General of MIneral and Coal - Indonesia
- Indian Oil Corporation Limited
- Planning Commission, India
- Holcim Trading Pte Ltd - Singapore
- Semirara Mining and Power Corporation, Philippines
- Georgia Ports Authority, United States
- Antam Resourcindo - Indonesia
- The Treasury - Australian Government
- Kartika Selabumi Mining - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Larsen & Toubro Limited - India
- Riau Bara Harum - Indonesia
- McConnell Dowell - Australia
- AsiaOL BioFuels Corp., Philippines
- Indika Energy - Indonesia
- European Bulk Services B.V. - Netherlands
- ICICI Bank Limited - India
- Semirara Mining Corp, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Global Green Power PLC Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- GVK Power & Infra Limited - India
- Directorate Of Revenue Intelligence - India
- Kumho Petrochemical, South Korea
- Chettinad Cement Corporation Ltd - India
- Grasim Industreis Ltd - India
- Heidelberg Cement - Germany
- The University of Queensland
- Agrawal Coal Company - India
- SN Aboitiz Power Inc, Philippines
- Vizag Seaport Private Limited - India
- Bhoruka Overseas - Indonesia
- Bangladesh Power Developement Board
- Petron Corporation, Philippines
- Essar Steel Hazira Ltd - India
- Videocon Industries ltd - India
- Rashtriya Ispat Nigam Limited - India
- Sindya Power Generating Company Private Ltd
- Therma Luzon, Inc, Philippines
- Bukit Baiduri Energy - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Marubeni Corporation - India
- SMC Global Power, Philippines
- Trasteel International SA, Italy
- Neyveli Lignite Corporation Ltd, - India
- London Commodity Brokers - England
- Africa Commodities Group - South Africa
- Thai Mozambique Logistica
- Bhatia International Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Malabar Cements Ltd - India
- Parry Sugars Refinery, India
- Bahari Cakrawala Sebuku - Indonesia
- Sical Logistics Limited - India
- Eastern Energy - Thailand
- ASAPP Information Group - India
- Ceylon Electricity Board - Sri Lanka
- Attock Cement Pakistan Limited
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Interocean Group of Companies - India
- Lanco Infratech Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- San Jose City I Power Corp, Philippines
- Rio Tinto Coal - Australia
- Karbindo Abesyapradhi - Indoneisa
- Indo Tambangraya Megah - Indonesia
- Latin American Coal - Colombia
- Eastern Coal Council - USA
- Standard Chartered Bank - UAE
- PNOC Exploration Corporation - Philippines
- GAC Shipping (India) Pvt Ltd
- Oldendorff Carriers - Singapore
- Central Java Power - Indonesia
- Price Waterhouse Coopers - Russia
- Australian Commodity Traders Exchange
- Singapore Mercantile Exchange
- Globalindo Alam Lestari - Indonesia
- Siam City Cement - Thailand
- South Luzon Thermal Energy Corporation
- Energy Link Ltd, New Zealand
- Tata Chemicals Ltd - India
- Orica Mining Services - Indonesia
- Thiess Contractors Indonesia
- Goldman Sachs - Singapore
- Chamber of Mines of South Africa
- Miang Besar Coal Terminal - Indonesia
- Port Waratah Coal Services - Australia
- Ind-Barath Power Infra Limited - India
- Electricity Authority, New Zealand
- TeaM Sual Corporation - Philippines
- Jindal Steel & Power Ltd - India
- Meralco Power Generation, Philippines
- Formosa Plastics Group - Taiwan
- Mintek Dendrill Indonesia
- Power Finance Corporation Ltd., India
- White Energy Company Limited
- OPG Power Generation Pvt Ltd - India
- Bharathi Cement Corporation - India
- Intertek Mineral Services - Indonesia
- CNBM International Corporation - China
- Barasentosa Lestari - Indonesia
- Straits Asia Resources Limited - Singapore
- Mercuria Energy - Indonesia
- Indian Energy Exchange, India
- Ambuja Cements Ltd - India
- Xindia Steels Limited - India
- Merrill Lynch Commodities Europe
- Bukit Asam (Persero) Tbk - Indonesia
- Iligan Light & Power Inc, Philippines
- Siam City Cement PLC, Thailand
- Madhucon Powers Ltd - India
- Borneo Indobara - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Baramulti Group, Indonesia
- Medco Energi Mining Internasional
- Jaiprakash Power Ventures ltd
- Indogreen Group - Indonesia
- Aboitiz Power Corporation - Philippines
- Orica Australia Pty. Ltd.
- Coastal Gujarat Power Limited - India
- Banpu Public Company Limited - Thailand
- IEA Clean Coal Centre - UK
- Sarangani Energy Corporation, Philippines
- Wilmar Investment Holdings
- Electricity Generating Authority of Thailand
- Ministry of Finance - Indonesia
- Bhushan Steel Limited - India
- Karaikal Port Pvt Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Wood Mackenzie - Singapore
- PetroVietnam Power Coal Import and Supply Company
- GMR Energy Limited - India
- Star Paper Mills Limited - India
- Simpson Spence & Young - Indonesia
- Ministry of Transport, Egypt
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Cigading International Bulk Terminal - Indonesia
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