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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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Wednesday, 18 July 12
SHIP PRICES HAVE FALLEN RAPIDLY THIS YEAR, FAVORING INVESTORS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The price for a 5 year old Capesize dry bulk carrier of 172,000 dwt has fallen to about $33,4mil from $42.9 at the end of June 2011, while at end of ...
Saturday, 14 July 12
FREIGHT MARKET SEEMS TO BE QUITE VOLATILE - VISTAAR
COALspot.com - The market seems to be quite volatile with the trend changing almost every week. This week all the segments were down except for Pana ...
Friday, 13 July 12
TRANSCOAL MINERGY HAS RECEIVED PMA STATUS IN INDONESIA
COALspot.com - PT Transcoal Minergy (“TCM”) has received official foreign owned company status from the Capital Investment Coordinating ...
Thursday, 12 July 12
LACK OF CAPESIZE DEMAND DRAGS DRY BULK MARKET LOWER - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
A lack of demand for the larger Capesize dry bulk carriers had as a result the fall of the industry’s benchmark, the BDI (Baltic Dry Index), w ...
Thursday, 12 July 12
RIO TINTO'S SENIOR MANAGEMENT CHANGES
COALspot.com - Rio Tinto is making changes to its senior management team as chief financial officer (CFO) Guy Elliott has decided to retire at the e ...
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- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Directorate Of Revenue Intelligence - India
- Kideco Jaya Agung - Indonesia
- Edison Trading Spa - Italy
- Neyveli Lignite Corporation Ltd, - India
- CNBM International Corporation - China
- Singapore Mercantile Exchange
- The University of Queensland
- VISA Power Limited - India
- Power Finance Corporation Ltd., India
- Central Electricity Authority - India
- Mercator Lines Limited - India
- Economic Council, Georgia
- Attock Cement Pakistan Limited
- Aboitiz Power Corporation - Philippines
- Price Waterhouse Coopers - Russia
- Siam City Cement PLC, Thailand
- Bukit Baiduri Energy - Indonesia
- Jaiprakash Power Ventures ltd
- LBH Netherlands Bv - Netherlands
- New Zealand Coal & Carbon
- Bank of Tokyo Mitsubishi UFJ Ltd
- Cement Manufacturers Association - India
- Dalmia Cement Bharat India
- South Luzon Thermal Energy Corporation
- Bukit Makmur.PT - Indonesia
- Merrill Lynch Commodities Europe
- PetroVietnam Power Coal Import and Supply Company
- India Bulls Power Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Lanco Infratech Ltd - India
- Xindia Steels Limited - India
- Holcim Trading Pte Ltd - Singapore
- Petron Corporation, Philippines
- Sical Logistics Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Manunggal Multi Energi - Indonesia
- Deloitte Consulting - India
- Borneo Indobara - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Ministry of Transport, Egypt
- Kumho Petrochemical, South Korea
- GMR Energy Limited - India
- Iligan Light & Power Inc, Philippines
- Karaikal Port Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- European Bulk Services B.V. - Netherlands
- Commonwealth Bank - Australia
- The Treasury - Australian Government
- PNOC Exploration Corporation - Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Altura Mining Limited, Indonesia
- Makarim & Taira - Indonesia
- Mjunction Services Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Independent Power Producers Association of India
- Parry Sugars Refinery, India
- Grasim Industreis Ltd - India
- Mintek Dendrill Indonesia
- Ministry of Mines - Canada
- Ambuja Cements Ltd - India
- Siam City Cement - Thailand
- Electricity Generating Authority of Thailand
- Global Coal Blending Company Limited - Australia
- Karbindo Abesyapradhi - Indoneisa
- Pipit Mutiara Jaya. PT, Indonesia
- Eastern Coal Council - USA
- Bhoruka Overseas - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Coal and Oil Company - UAE
- AsiaOL BioFuels Corp., Philippines
- Indian Energy Exchange, India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Leighton Contractors Pty Ltd - Australia
- Barasentosa Lestari - Indonesia
- International Coal Ventures Pvt Ltd - India
- PTC India Limited - India
- Port Waratah Coal Services - Australia
- Latin American Coal - Colombia
- Indonesian Coal Mining Association
- Jindal Steel & Power Ltd - India
- Sarangani Energy Corporation, Philippines
- Global Business Power Corporation, Philippines
- MS Steel International - UAE
- Posco Energy - South Korea
- Planning Commission, India
- McConnell Dowell - Australia
- London Commodity Brokers - England
- Rio Tinto Coal - Australia
- Maheswari Brothers Coal Limited - India
- Renaissance Capital - South Africa
- Carbofer General Trading SA - India
- Chettinad Cement Corporation Ltd - India
- Oldendorff Carriers - Singapore
- Meenaskhi Energy Private Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Formosa Plastics Group - Taiwan
- Ind-Barath Power Infra Limited - India
- Salva Resources Pvt Ltd - India
- OPG Power Generation Pvt Ltd - India
- Thai Mozambique Logistica
- Energy Development Corp, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Binh Thuan Hamico - Vietnam
- Australian Coal Association
- Chamber of Mines of South Africa
- Intertek Mineral Services - Indonesia
- Bharathi Cement Corporation - India
- Coalindo Energy - Indonesia
- Samtan Co., Ltd - South Korea
- TeaM Sual Corporation - Philippines
- Mercuria Energy - Indonesia
- Kobexindo Tractors - Indoneisa
- Sojitz Corporation - Japan
- White Energy Company Limited
- Meralco Power Generation, Philippines
- SMG Consultants - Indonesia
- Georgia Ports Authority, United States
- Thiess Contractors Indonesia
- Riau Bara Harum - Indonesia
- Bulk Trading Sa - Switzerland
- Global Green Power PLC Corporation, Philippines
- Heidelberg Cement - Germany
- Uttam Galva Steels Limited - India
- ICICI Bank Limited - India
- Wilmar Investment Holdings
- Romanian Commodities Exchange
- Metalloyd Limited - United Kingdom
- CIMB Investment Bank - Malaysia
- Aditya Birla Group - India
- Gujarat Electricity Regulatory Commission - India
- IEA Clean Coal Centre - UK
- Ceylon Electricity Board - Sri Lanka
- Semirara Mining Corp, Philippines
- Timah Investasi Mineral - Indoneisa
- Therma Luzon, Inc, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Banpu Public Company Limited - Thailand
- Energy Link Ltd, New Zealand
- Australian Commodity Traders Exchange
- Medco Energi Mining Internasional
- Tamil Nadu electricity Board
- Sree Jayajothi Cements Limited - India
- IHS Mccloskey Coal Group - USA
- SN Aboitiz Power Inc, Philippines
- Coastal Gujarat Power Limited - India
- Gujarat Sidhee Cement - India
- Tata Chemicals Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Interocean Group of Companies - India
- Gujarat Mineral Development Corp Ltd - India
- Indika Energy - Indonesia
- Bangladesh Power Developement Board
- Vedanta Resources Plc - India
- Kepco SPC Power Corporation, Philippines
- Larsen & Toubro Limited - India
- Bhushan Steel Limited - India
- Straits Asia Resources Limited - Singapore
- Indian Oil Corporation Limited
- Antam Resourcindo - Indonesia
- Africa Commodities Group - South Africa
- Kohat Cement Company Ltd. - Pakistan
- Essar Steel Hazira Ltd - India
- Sakthi Sugars Limited - India
- Globalindo Alam Lestari - Indonesia
- Kaltim Prima Coal - Indonesia
- Vizag Seaport Private Limited - India
- ASAPP Information Group - India
- Orica Mining Services - Indonesia
- PowerSource Philippines DevCo
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Anglo American - United Kingdom
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Toyota Tsusho Corporation, Japan
- Indo Tambangraya Megah - Indonesia
- SMC Global Power, Philippines
- Videocon Industries ltd - India
- Ministry of Finance - Indonesia
- Wood Mackenzie - Singapore
- Parliament of New Zealand
- Billiton Holdings Pty Ltd - Australia
- Standard Chartered Bank - UAE
- Star Paper Mills Limited - India
- Goldman Sachs - Singapore
- Orica Australia Pty. Ltd.
- Trasteel International SA, Italy
- Kartika Selabumi Mining - Indonesia
- GAC Shipping (India) Pvt Ltd
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Agrawal Coal Company - India
- Marubeni Corporation - India
- Bayan Resources Tbk. - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Central Java Power - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Madhucon Powers Ltd - India
- Minerals Council of Australia
- Bhatia International Limited - India
- GVK Power & Infra Limited - India
- Electricity Authority, New Zealand
- San Jose City I Power Corp, Philippines
- Cigading International Bulk Terminal - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Savvy Resources Ltd - HongKong
- Krishnapatnam Port Company Ltd. - India
- The State Trading Corporation of India Ltd
- Indogreen Group - Indonesia
- Eastern Energy - Thailand
- Malabar Cements Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Pendopo Energi Batubara - Indonesia
- Baramulti Group, Indonesia
- Simpson Spence & Young - Indonesia
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