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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, 21 July 12
THE FREIGHT RATES ARE EXPECTED TO BE FLAT TO SOFT NEXT WEEK - VISTAAR
COALspot.com - The freight market was soft this week as all the segments were down.
The BDI was down by 6.58 pct closing at 1,037 points and the ...
Saturday, 21 July 12
INDONESIAN COMPANIES ABM INVESTAMA AND AVRA ASIA WORK OUT LONG-TERM CONTRACT - THE JAKARTA GLOBE
The Jakarta Globe, one of the leading English news papaer in Indonesia reported that, ABM Investama, a company with diversified interests in coal mi ...
Friday, 20 July 12
INDONESIA-INDIA SUPRAS BEING FIXED AT $ 10K
Handy
After a stable last week, the Handysize market has experienced softening rates in the Atlantic. Ships are ballasting from India into the Atla ...
Friday, 20 July 12
HANDYSIZES PROVE RATHER ATTRACTIVE AMONG OTHER SHIPS, IN TERMS OF FUTURE RETURNS ON INVESTMENT - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The Handysize segment of the dry bulk market appears to offer the best incentive among other ship types, for a ship owners to invest in, says Interm ...
Wednesday, 18 July 12
TAIWAN POWER COMPANY TO IMPORT 0.588 MILLION TONS OF LOW ASH AND EXTRA LOW SULFUR SUB-BITUMINOUS COAL
COALspot.com - Taiwan Power Company intends to procure 588,000 MT tons of extra low sulfur sub-bituminous coal for Taipower thermal power plant thro ...
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- GN Power Mariveles Coal Plant, Philippines
- Marubeni Corporation - India
- Thai Mozambique Logistica
- Semirara Mining and Power Corporation, Philippines
- Ambuja Cements Ltd - India
- Meenaskhi Energy Private Limited - India
- Essar Steel Hazira Ltd - India
- Bhatia International Limited - India
- Uttam Galva Steels Limited - India
- Deloitte Consulting - India
- Gujarat Sidhee Cement - India
- Toyota Tsusho Corporation, Japan
- The State Trading Corporation of India Ltd
- South Luzon Thermal Energy Corporation
- Bukit Makmur.PT - Indonesia
- Georgia Ports Authority, United States
- Bukit Baiduri Energy - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Indogreen Group - Indonesia
- Global Coal Blending Company Limited - Australia
- Therma Luzon, Inc, Philippines
- Lanco Infratech Ltd - India
- Kartika Selabumi Mining - Indonesia
- Mintek Dendrill Indonesia
- GVK Power & Infra Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Kapuas Tunggal Persada - Indonesia
- Indian Oil Corporation Limited
- Borneo Indobara - Indonesia
- IEA Clean Coal Centre - UK
- Madhucon Powers Ltd - India
- Banpu Public Company Limited - Thailand
- SMC Global Power, Philippines
- Larsen & Toubro Limited - India
- TeaM Sual Corporation - Philippines
- Standard Chartered Bank - UAE
- Jaiprakash Power Ventures ltd
- Kepco SPC Power Corporation, Philippines
- Indika Energy - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- European Bulk Services B.V. - Netherlands
- Bhushan Steel Limited - India
- Port Waratah Coal Services - Australia
- Riau Bara Harum - Indonesia
- Jindal Steel & Power Ltd - India
- Ministry of Finance - Indonesia
- Ministry of Transport, Egypt
- Pipit Mutiara Jaya. PT, Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- The University of Queensland
- SN Aboitiz Power Inc, Philippines
- Coal and Oil Company - UAE
- Oldendorff Carriers - Singapore
- CIMB Investment Bank - Malaysia
- Petron Corporation, Philippines
- PowerSource Philippines DevCo
- Cement Manufacturers Association - India
- Central Java Power - Indonesia
- Australian Coal Association
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Xindia Steels Limited - India
- Sinarmas Energy and Mining - Indonesia
- Intertek Mineral Services - Indonesia
- Maheswari Brothers Coal Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Meralco Power Generation, Philippines
- India Bulls Power Limited - India
- Interocean Group of Companies - India
- Mjunction Services Limited - India
- Salva Resources Pvt Ltd - India
- New Zealand Coal & Carbon
- International Coal Ventures Pvt Ltd - India
- GMR Energy Limited - India
- OPG Power Generation Pvt Ltd - India
- Grasim Industreis Ltd - India
- Edison Trading Spa - Italy
- Wood Mackenzie - Singapore
- Mercuria Energy - Indonesia
- Minerals Council of Australia
- Altura Mining Limited, Indonesia
- Renaissance Capital - South Africa
- Alfred C Toepfer International GmbH - Germany
- Commonwealth Bank - Australia
- Electricity Generating Authority of Thailand
- Iligan Light & Power Inc, Philippines
- Kaltim Prima Coal - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Formosa Plastics Group - Taiwan
- The Treasury - Australian Government
- Singapore Mercantile Exchange
- Sakthi Sugars Limited - India
- Australian Commodity Traders Exchange
- LBH Netherlands Bv - Netherlands
- Savvy Resources Ltd - HongKong
- Vedanta Resources Plc - India
- Sree Jayajothi Cements Limited - India
- Manunggal Multi Energi - Indonesia
- Straits Asia Resources Limited - Singapore
- Samtan Co., Ltd - South Korea
- Bharathi Cement Corporation - India
- Wilmar Investment Holdings
- Coastal Gujarat Power Limited - India
- Coalindo Energy - Indonesia
- Karaikal Port Pvt Ltd - India
- VISA Power Limited - India
- Indo Tambangraya Megah - Indonesia
- Vizag Seaport Private Limited - India
- Malabar Cements Ltd - India
- Electricity Authority, New Zealand
- AsiaOL BioFuels Corp., Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Asmin Koalindo Tuhup - Indonesia
- Ind-Barath Power Infra Limited - India
- White Energy Company Limited
- Africa Commodities Group - South Africa
- Indian Energy Exchange, India
- Heidelberg Cement - Germany
- Baramulti Group, Indonesia
- Carbofer General Trading SA - India
- Sindya Power Generating Company Private Ltd
- Anglo American - United Kingdom
- Posco Energy - South Korea
- Holcim Trading Pte Ltd - Singapore
- Attock Cement Pakistan Limited
- Kalimantan Lumbung Energi - Indonesia
- Medco Energi Mining Internasional
- Leighton Contractors Pty Ltd - Australia
- SMG Consultants - Indonesia
- Tata Chemicals Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Directorate Of Revenue Intelligence - India
- Mercator Lines Limited - India
- Energy Link Ltd, New Zealand
- Aboitiz Power Corporation - Philippines
- Miang Besar Coal Terminal - Indonesia
- Siam City Cement - Thailand
- Globalindo Alam Lestari - Indonesia
- Independent Power Producers Association of India
- Rashtriya Ispat Nigam Limited - India
- Makarim & Taira - Indonesia
- Global Green Power PLC Corporation, Philippines
- Simpson Spence & Young - Indonesia
- Price Waterhouse Coopers - Russia
- Tamil Nadu electricity Board
- Billiton Holdings Pty Ltd - Australia
- Gujarat Electricity Regulatory Commission - India
- Antam Resourcindo - Indonesia
- Bangladesh Power Developement Board
- Chettinad Cement Corporation Ltd - India
- Metalloyd Limited - United Kingdom
- Merrill Lynch Commodities Europe
- PetroVietnam Power Coal Import and Supply Company
- Krishnapatnam Port Company Ltd. - India
- Agrawal Coal Company - India
- London Commodity Brokers - England
- Sarangani Energy Corporation, Philippines
- Indonesian Coal Mining Association
- IHS Mccloskey Coal Group - USA
- Parry Sugars Refinery, India
- PNOC Exploration Corporation - Philippines
- Global Business Power Corporation, Philippines
- San Jose City I Power Corp, Philippines
- ICICI Bank Limited - India
- McConnell Dowell - Australia
- Semirara Mining Corp, Philippines
- Chamber of Mines of South Africa
- Orica Mining Services - Indonesia
- Star Paper Mills Limited - India
- ASAPP Information Group - India
- Goldman Sachs - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Vijayanagar Sugar Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Latin American Coal - Colombia
- Ministry of Mines - Canada
- Planning Commission, India
- Kideco Jaya Agung - Indonesia
- Thiess Contractors Indonesia
- Orica Australia Pty. Ltd.
- MS Steel International - UAE
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kobexindo Tractors - Indoneisa
- PTC India Limited - India
- Siam City Cement PLC, Thailand
- Eastern Energy - Thailand
- Bhoruka Overseas - Indonesia
- Dalmia Cement Bharat India
- Kohat Cement Company Ltd. - Pakistan
- Barasentosa Lestari - Indonesia
- Trasteel International SA, Italy
- Cigading International Bulk Terminal - Indonesia
- GAC Shipping (India) Pvt Ltd
- Central Electricity Authority - India
- Rio Tinto Coal - Australia
- Karbindo Abesyapradhi - Indoneisa
- Energy Development Corp, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Timah Investasi Mineral - Indoneisa
- Sical Logistics Limited - India
- Power Finance Corporation Ltd., India
- Neyveli Lignite Corporation Ltd, - India
- Bayan Resources Tbk. - Indonesia
- Videocon Industries ltd - India
- Bulk Trading Sa - Switzerland
- Economic Council, Georgia
- Ceylon Electricity Board - Sri Lanka
- CNBM International Corporation - China
- Pendopo Energi Batubara - Indonesia
- Aditya Birla Group - India
- Parliament of New Zealand
- Binh Thuan Hamico - Vietnam
- Eastern Coal Council - USA
- Sojitz Corporation - Japan
- Kumho Petrochemical, South Korea
- Romanian Commodities Exchange
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