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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, 28 July 12
CAL 2013 COAL SWAPS ARE HIGHER COMPARED TO SEPT 2012 PRICES
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) for September 2012 delivery gain 0.47 percent on Friday (27 July 2012) closing DoD but lost 0.90 ...
Friday, 27 July 12
PACIFIC MARKET REMAINED FLAT - FEARNLEYS AS
Handy
The Atlantic market continued its downward trend from last week with what appears to be a summer lull across the board. A trip from the USG t ...
Wednesday, 25 July 12
BUKIT ASAMS H1 REVENUE JUMPED BY 13 PERCENT
COALspot.com - PT Bukit Asam (Persero), Tbk., the state owned coal miner's revenue in H1 2012, has jumped 13 percent to IDR 5.79 trillion (approxim ...
Wednesday, 25 July 12
BUMI RESOURCES MINERALS SECURED PINJAM PAKAI FOR ITS ZINC AND LEAD PROJECT
COALspot.com - PT Bumi Resources Minerals Tbk. ("BRMS" or "the Company") today reported that its 80% owned subsidiary, PT Dairi ...
Tuesday, 24 July 12
SHIP OWNERS WAITING FOR SHIP PRICES TO FALL FURTHER BEFORE MOVING IN MORE AGGRESSIVELY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
With the summer season already well under way and many ship owners getting ready for the autumn, the sale & purchasing activity of second hand v ...
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- Bangladesh Power Developement Board
- The University of Queensland
- Directorate General of MIneral and Coal - Indonesia
- Coal and Oil Company - UAE
- Merrill Lynch Commodities Europe
- Bukit Baiduri Energy - Indonesia
- Parliament of New Zealand
- Formosa Plastics Group - Taiwan
- Australian Coal Association
- Billiton Holdings Pty Ltd - Australia
- AsiaOL BioFuels Corp., Philippines
- Uttam Galva Steels Limited - India
- Kapuas Tunggal Persada - Indonesia
- Bhushan Steel Limited - India
- Savvy Resources Ltd - HongKong
- Marubeni Corporation - India
- Attock Cement Pakistan Limited
- Tamil Nadu electricity Board
- SN Aboitiz Power Inc, Philippines
- Medco Energi Mining Internasional
- Trasteel International SA, Italy
- Sical Logistics Limited - India
- Holcim Trading Pte Ltd - Singapore
- Petrochimia International Co. Ltd.- Taiwan
- Bank of Tokyo Mitsubishi UFJ Ltd
- Eastern Energy - Thailand
- Leighton Contractors Pty Ltd - Australia
- Malabar Cements Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Kepco SPC Power Corporation, Philippines
- Standard Chartered Bank - UAE
- Larsen & Toubro Limited - India
- Power Finance Corporation Ltd., India
- Aditya Birla Group - India
- PTC India Limited - India
- Port Waratah Coal Services - Australia
- Africa Commodities Group - South Africa
- Miang Besar Coal Terminal - Indonesia
- Ambuja Cements Ltd - India
- Central Electricity Authority - India
- Aboitiz Power Corporation - Philippines
- Economic Council, Georgia
- CIMB Investment Bank - Malaysia
- Ind-Barath Power Infra Limited - India
- Mjunction Services Limited - India
- Singapore Mercantile Exchange
- Mintek Dendrill Indonesia
- Samtan Co., Ltd - South Korea
- Anglo American - United Kingdom
- OPG Power Generation Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- Central Java Power - Indonesia
- Kartika Selabumi Mining - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Bharathi Cement Corporation - India
- Ceylon Electricity Board - Sri Lanka
- Iligan Light & Power Inc, Philippines
- Sinarmas Energy and Mining - Indonesia
- Bhoruka Overseas - Indonesia
- Intertek Mineral Services - Indonesia
- Kaltim Prima Coal - Indonesia
- Deloitte Consulting - India
- PetroVietnam Power Coal Import and Supply Company
- Orica Australia Pty. Ltd.
- PowerSource Philippines DevCo
- Asia Pacific Energy Resources Ventures Inc, Philippines
- SMC Global Power, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ministry of Transport, Egypt
- Borneo Indobara - Indonesia
- Mercuria Energy - Indonesia
- Electricity Authority, New Zealand
- Independent Power Producers Association of India
- Star Paper Mills Limited - India
- Agrawal Coal Company - India
- Vedanta Resources Plc - India
- Baramulti Group, Indonesia
- Vizag Seaport Private Limited - India
- Jorong Barutama Greston.PT - Indonesia
- McConnell Dowell - Australia
- Sindya Power Generating Company Private Ltd
- Simpson Spence & Young - Indonesia
- Petron Corporation, Philippines
- Bhatia International Limited - India
- Gujarat Mineral Development Corp Ltd - India
- South Luzon Thermal Energy Corporation
- Kideco Jaya Agung - Indonesia
- PNOC Exploration Corporation - Philippines
- Thiess Contractors Indonesia
- Ministry of Mines - Canada
- Renaissance Capital - South Africa
- Globalindo Alam Lestari - Indonesia
- Chettinad Cement Corporation Ltd - India
- London Commodity Brokers - England
- Minerals Council of Australia
- Jaiprakash Power Ventures ltd
- Timah Investasi Mineral - Indoneisa
- Wood Mackenzie - Singapore
- CNBM International Corporation - China
- Karaikal Port Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Global Coal Blending Company Limited - Australia
- ICICI Bank Limited - India
- Kumho Petrochemical, South Korea
- Vijayanagar Sugar Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Posco Energy - South Korea
- Interocean Group of Companies - India
- Orica Mining Services - Indonesia
- Indogreen Group - Indonesia
- Commonwealth Bank - Australia
- Pendopo Energi Batubara - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Heidelberg Cement - Germany
- Manunggal Multi Energi - Indonesia
- Antam Resourcindo - Indonesia
- Mercator Lines Limited - India
- Videocon Industries ltd - India
- Edison Trading Spa - Italy
- Directorate Of Revenue Intelligence - India
- Price Waterhouse Coopers - Russia
- Thai Mozambique Logistica
- Chamber of Mines of South Africa
- The State Trading Corporation of India Ltd
- Wilmar Investment Holdings
- International Coal Ventures Pvt Ltd - India
- GVK Power & Infra Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Australian Commodity Traders Exchange
- SMG Consultants - Indonesia
- VISA Power Limited - India
- Oldendorff Carriers - Singapore
- Indika Energy - Indonesia
- Cement Manufacturers Association - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Riau Bara Harum - Indonesia
- IEA Clean Coal Centre - UK
- Sarangani Energy Corporation, Philippines
- Electricity Generating Authority of Thailand
- Therma Luzon, Inc, Philippines
- Barasentosa Lestari - Indonesia
- Latin American Coal - Colombia
- GMR Energy Limited - India
- MS Steel International - UAE
- Meenaskhi Energy Private Limited - India
- Carbofer General Trading SA - India
- Gujarat Electricity Regulatory Commission - India
- Rio Tinto Coal - Australia
- Energy Development Corp, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- GAC Shipping (India) Pvt Ltd
- Siam City Cement - Thailand
- IHS Mccloskey Coal Group - USA
- Neyveli Lignite Corporation Ltd, - India
- ASAPP Information Group - India
- New Zealand Coal & Carbon
- Coalindo Energy - Indonesia
- Indo Tambangraya Megah - Indonesia
- Global Green Power PLC Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Goldman Sachs - Singapore
- Grasim Industreis Ltd - India
- LBH Netherlands Bv - Netherlands
- Salva Resources Pvt Ltd - India
- Indian Energy Exchange, India
- Tata Chemicals Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Sakthi Sugars Limited - India
- Kobexindo Tractors - Indoneisa
- Makarim & Taira - Indonesia
- Romanian Commodities Exchange
- Kalimantan Lumbung Energi - Indonesia
- Parry Sugars Refinery, India
- Banpu Public Company Limited - Thailand
- Bulk Trading Sa - Switzerland
- Essar Steel Hazira Ltd - India
- Energy Link Ltd, New Zealand
- TeaM Sual Corporation - Philippines
- Georgia Ports Authority, United States
- Sojitz Corporation - Japan
- Dalmia Cement Bharat India
- Indian Oil Corporation Limited
- Ministry of Finance - Indonesia
- Bukit Makmur.PT - Indonesia
- Altura Mining Limited, Indonesia
- Jindal Steel & Power Ltd - India
- Madhucon Powers Ltd - India
- India Bulls Power Limited - India
- Sree Jayajothi Cements Limited - India
- Maheswari Brothers Coal Limited - India
- Rashtriya Ispat Nigam Limited - India
- White Energy Company Limited
- Xindia Steels Limited - India
- Alfred C Toepfer International GmbH - Germany
- Semirara Mining Corp, Philippines
- San Jose City I Power Corp, Philippines
- Gujarat Sidhee Cement - India
- Maharashtra Electricity Regulatory Commission - India
- Bayan Resources Tbk. - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- The Treasury - Australian Government
- Planning Commission, India
- Binh Thuan Hamico - Vietnam
- Siam City Cement PLC, Thailand
- Coastal Gujarat Power Limited - India
- Toyota Tsusho Corporation, Japan
- TNB Fuel Sdn Bhd - Malaysia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Metalloyd Limited - United Kingdom
- Global Business Power Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- Indonesian Coal Mining Association
- Meralco Power Generation, Philippines
- Lanco Infratech Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Eastern Coal Council - USA
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