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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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Friday, 03 August 12
INDIA - LIGHTS OUT! - SALVA
The Indian power sector hit global headlines this week for all the wrong reasons. Firstly, on Monday, over 350 million people lost power across nort ...
Thursday, 02 August 12
OIL & GAS COMPANIES TO MEET IN MYANMAR FOR UPDATES ON NEW ROUND OF BIDDING AND INVESTMENT POTENTIAL IN UPSTREAM OIL, GAS, AND POWER GENERATION
Press Release - 2nd MOGP Summit (Myanmar Oil, Gas & Power) will convene in Yangon from 3 – 6 September 2012, to unveil new round of biddin ...
Thursday, 02 August 12
DRY BULK MARKET RATES CONTINUE SLUMP AMID SLOWER DEMAND NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market kept on its downward path Wednesday, as the BDI (Baltic Dry Index) kept retreating to new lows. The index was down by 2.12 perce ...
Monday, 30 July 12
DRY BULK MARKET TO REMAIN UNDER PRESSURE FOR THE REST OF 2012 - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
In an interview with Hellenic Shipping News Worldwide, Mr. Yannis Pachoulis, President of the Hellenic Shipbrokers' Association, remains cautiously ...
Sunday, 29 July 12
FREIGHT MARKET MOMENTUM CONTINUES TO WEAK
COALspot.com - The freight market continued to soft this week with all the segments dropped and the BDI fell below 1,000 points and closed at 933 po ...
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- CIMB Investment Bank - Malaysia
- Thai Mozambique Logistica
- Altura Mining Limited, Indonesia
- Antam Resourcindo - Indonesia
- Central Java Power - Indonesia
- Bangladesh Power Developement Board
- Manunggal Multi Energi - Indonesia
- Straits Asia Resources Limited - Singapore
- Interocean Group of Companies - India
- Global Green Power PLC Corporation, Philippines
- Power Finance Corporation Ltd., India
- Timah Investasi Mineral - Indoneisa
- Krishnapatnam Port Company Ltd. - India
- Sical Logistics Limited - India
- Medco Energi Mining Internasional
- Videocon Industries ltd - India
- San Jose City I Power Corp, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Merrill Lynch Commodities Europe
- Dalmia Cement Bharat India
- Energy Link Ltd, New Zealand
- White Energy Company Limited
- Siam City Cement - Thailand
- Mercator Lines Limited - India
- MS Steel International - UAE
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Makarim & Taira - Indonesia
- Bharathi Cement Corporation - India
- Anglo American - United Kingdom
- Savvy Resources Ltd - HongKong
- Asmin Koalindo Tuhup - Indonesia
- South Luzon Thermal Energy Corporation
- Banpu Public Company Limited - Thailand
- Semirara Mining and Power Corporation, Philippines
- Meralco Power Generation, Philippines
- Kobexindo Tractors - Indoneisa
- ICICI Bank Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Sakthi Sugars Limited - India
- Chettinad Cement Corporation Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Grasim Industreis Ltd - India
- Indian Energy Exchange, India
- Sojitz Corporation - Japan
- TeaM Sual Corporation - Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Tata Chemicals Ltd - India
- Lanco Infratech Ltd - India
- Minerals Council of Australia
- OPG Power Generation Pvt Ltd - India
- Indogreen Group - Indonesia
- Borneo Indobara - Indonesia
- LBH Netherlands Bv - Netherlands
- Vijayanagar Sugar Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- Attock Cement Pakistan Limited
- AsiaOL BioFuels Corp., Philippines
- Vedanta Resources Plc - India
- GVK Power & Infra Limited - India
- Parliament of New Zealand
- Mintek Dendrill Indonesia
- Port Waratah Coal Services - Australia
- Mercuria Energy - Indonesia
- Therma Luzon, Inc, Philippines
- Iligan Light & Power Inc, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Metalloyd Limited - United Kingdom
- Indo Tambangraya Megah - Indonesia
- Meenaskhi Energy Private Limited - India
- Siam City Cement PLC, Thailand
- Cigading International Bulk Terminal - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- European Bulk Services B.V. - Netherlands
- Binh Thuan Hamico - Vietnam
- Sarangani Energy Corporation, Philippines
- Agrawal Coal Company - India
- SMC Global Power, Philippines
- Georgia Ports Authority, United States
- Jaiprakash Power Ventures ltd
- Deloitte Consulting - India
- Goldman Sachs - Singapore
- Kaltim Prima Coal - Indonesia
- Commonwealth Bank - Australia
- Carbofer General Trading SA - India
- Indian Oil Corporation Limited
- Thiess Contractors Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Bhushan Steel Limited - India
- Economic Council, Georgia
- Gujarat Electricity Regulatory Commission - India
- Pipit Mutiara Jaya. PT, Indonesia
- Oldendorff Carriers - Singapore
- Jorong Barutama Greston.PT - Indonesia
- Standard Chartered Bank - UAE
- Coal and Oil Company - UAE
- Independent Power Producers Association of India
- Electricity Generating Authority of Thailand
- Ministry of Finance - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Leighton Contractors Pty Ltd - Australia
- The University of Queensland
- Indika Energy - Indonesia
- Star Paper Mills Limited - India
- Indonesian Coal Mining Association
- IEA Clean Coal Centre - UK
- London Commodity Brokers - England
- Rashtriya Ispat Nigam Limited - India
- Kideco Jaya Agung - Indonesia
- ASAPP Information Group - India
- Wilmar Investment Holdings
- GAC Shipping (India) Pvt Ltd
- Mjunction Services Limited - India
- Formosa Plastics Group - Taiwan
- Jindal Steel & Power Ltd - India
- PNOC Exploration Corporation - Philippines
- Semirara Mining Corp, Philippines
- Eastern Coal Council - USA
- Ministry of Transport, Egypt
- SN Aboitiz Power Inc, Philippines
- Holcim Trading Pte Ltd - Singapore
- Latin American Coal - Colombia
- CNBM International Corporation - China
- Wood Mackenzie - Singapore
- Planning Commission, India
- Miang Besar Coal Terminal - Indonesia
- Larsen & Toubro Limited - India
- VISA Power Limited - India
- Pendopo Energi Batubara - Indonesia
- Global Business Power Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Kepco SPC Power Corporation, Philippines
- The State Trading Corporation of India Ltd
- Romanian Commodities Exchange
- Coastal Gujarat Power Limited - India
- Renaissance Capital - South Africa
- Neyveli Lignite Corporation Ltd, - India
- India Bulls Power Limited - India
- Malabar Cements Ltd - India
- Kartika Selabumi Mining - Indonesia
- Maheswari Brothers Coal Limited - India
- Chamber of Mines of South Africa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bhatia International Limited - India
- Coalindo Energy - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Vizag Seaport Private Limited - India
- Directorate Of Revenue Intelligence - India
- Bulk Trading Sa - Switzerland
- Singapore Mercantile Exchange
- IHS Mccloskey Coal Group - USA
- PowerSource Philippines DevCo
- Salva Resources Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Globalindo Alam Lestari - Indonesia
- Ministry of Mines - Canada
- Kumho Petrochemical, South Korea
- Rio Tinto Coal - Australia
- Uttam Galva Steels Limited - India
- Sindya Power Generating Company Private Ltd
- GMR Energy Limited - India
- Price Waterhouse Coopers - Russia
- Barasentosa Lestari - Indonesia
- Global Coal Blending Company Limited - Australia
- Marubeni Corporation - India
- Aditya Birla Group - India
- Ind-Barath Power Infra Limited - India
- Sree Jayajothi Cements Limited - India
- Xindia Steels Limited - India
- Electricity Authority, New Zealand
- PetroVietnam Power Coal Import and Supply Company
- Baramulti Group, Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Bukit Asam (Persero) Tbk - Indonesia
- Heidelberg Cement - Germany
- Madhucon Powers Ltd - India
- Australian Commodity Traders Exchange
- The Treasury - Australian Government
- Toyota Tsusho Corporation, Japan
- Alfred C Toepfer International GmbH - Germany
- Bukit Makmur.PT - Indonesia
- Edison Trading Spa - Italy
- Kohat Cement Company Ltd. - Pakistan
- Orica Australia Pty. Ltd.
- PTC India Limited - India
- Sinarmas Energy and Mining - Indonesia
- Gujarat Sidhee Cement - India
- SMG Consultants - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Parry Sugars Refinery, India
- Bhoruka Overseas - Indonesia
- Tamil Nadu electricity Board
- Gujarat Mineral Development Corp Ltd - India
- Ambuja Cements Ltd - India
- Eastern Energy - Thailand
- Karaikal Port Pvt Ltd - India
- Riau Bara Harum - Indonesia
- Posco Energy - South Korea
- Africa Commodities Group - South Africa
- Offshore Bulk Terminal Pte Ltd, Singapore
- Petron Corporation, Philippines
- Samtan Co., Ltd - South Korea
- Cement Manufacturers Association - India
- Trasteel International SA, Italy
- Intertek Mineral Services - Indonesia
- Energy Development Corp, Philippines
- Aboitiz Power Corporation - Philippines
- Essar Steel Hazira Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Central Electricity Authority - India
- Australian Coal Association
- McConnell Dowell - Australia
- International Coal Ventures Pvt Ltd - India
- Orica Mining Services - Indonesia
- New Zealand Coal & Carbon
- Bukit Baiduri Energy - Indonesia
- Simpson Spence & Young - Indonesia
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