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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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Thursday, 12 July 12
SOUTHGOBI RESOURCES ANNOUNCES NOTICE OF INVESTMENT DISPUTE FILED AGAINST MONGOLIAN GOVERNMENT
Press Release - SouthGobi Resources Ltd. (TSX: SGQ, HK: 1878) (“SouthGobi”) announced today that SGQ Coal Investment Pte. Ltd., a wholly ...
Wednesday, 11 July 12
HBA DROPPED SHARPLY IN JULY
COALspot.com - Indonesian HBA fell to lowest level since September 2010 in July 2012. The monthly coal reference price for coal sales this mon ...
Wednesday, 11 July 12
SUB-BIT FOB INDONESIA COAL SWAP LOST $ 1.26 PER TON
COALspot.com - Sub-Bit FOB Indonesia Coal decline for a second day yesterday, according to SGX AsiaClear OTC Coal Swaps. The prices for shipments to ...
Tuesday, 10 July 12
DRY BULK MARKET RECORDS MODEST GAINS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market inched a bit higher on Monday, with the Baltic Dry Index (BDI) ending the session up by 5 points to 1,162. Most markets were hig ...
Saturday, 07 July 12
INDONESIA-JAPAN RELATIONS TURN SOUR - THE JAKARTA POST
The Jakarta Post, the one of the leading Indonesian English new papers reported that, Bilateral relations between Indonesia and Japan have recently ...
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- Parry Sugars Refinery, India
- Videocon Industries ltd - India
- International Coal Ventures Pvt Ltd - India
- Gujarat Sidhee Cement - India
- Grasim Industreis Ltd - India
- ASAPP Information Group - India
- PowerSource Philippines DevCo
- Bukit Makmur.PT - Indonesia
- Ind-Barath Power Infra Limited - India
- SN Aboitiz Power Inc, Philippines
- Commonwealth Bank - Australia
- Bhatia International Limited - India
- Uttam Galva Steels Limited - India
- Aboitiz Power Corporation - Philippines
- Rio Tinto Coal - Australia
- Meralco Power Generation, Philippines
- Coal and Oil Company - UAE
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Riau Bara Harum - Indonesia
- Sarangani Energy Corporation, Philippines
- GVK Power & Infra Limited - India
- White Energy Company Limited
- Karbindo Abesyapradhi - Indoneisa
- Agrawal Coal Company - India
- Asmin Koalindo Tuhup - Indonesia
- ICICI Bank Limited - India
- Port Waratah Coal Services - Australia
- Energy Link Ltd, New Zealand
- Toyota Tsusho Corporation, Japan
- Planning Commission, India
- Bukit Asam (Persero) Tbk - Indonesia
- Kumho Petrochemical, South Korea
- Marubeni Corporation - India
- Coalindo Energy - Indonesia
- Altura Mining Limited, Indonesia
- Indian Oil Corporation Limited
- Bhoruka Overseas - Indonesia
- Ambuja Cements Ltd - India
- Mercator Lines Limited - India
- Kaltim Prima Coal - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Orica Mining Services - Indonesia
- Karaikal Port Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Samtan Co., Ltd - South Korea
- Mercuria Energy - Indonesia
- New Zealand Coal & Carbon
- Kepco SPC Power Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- TNB Fuel Sdn Bhd - Malaysia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Therma Luzon, Inc, Philippines
- Parliament of New Zealand
- Romanian Commodities Exchange
- Electricity Authority, New Zealand
- PTC India Limited - India
- Bulk Trading Sa - Switzerland
- Simpson Spence & Young - Indonesia
- Salva Resources Pvt Ltd - India
- Sical Logistics Limited - India
- Sree Jayajothi Cements Limited - India
- Larsen & Toubro Limited - India
- Lanco Infratech Ltd - India
- European Bulk Services B.V. - Netherlands
- Kalimantan Lumbung Energi - Indonesia
- Trasteel International SA, Italy
- Ministry of Finance - Indonesia
- PNOC Exploration Corporation - Philippines
- Minerals Council of Australia
- Petron Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- Coastal Gujarat Power Limited - India
- Directorate Of Revenue Intelligence - India
- TeaM Sual Corporation - Philippines
- Central Electricity Authority - India
- Eastern Energy - Thailand
- Bharathi Cement Corporation - India
- Heidelberg Cement - Germany
- Global Business Power Corporation, Philippines
- Semirara Mining Corp, Philippines
- Ministry of Mines - Canada
- Vijayanagar Sugar Pvt Ltd - India
- Power Finance Corporation Ltd., India
- Indonesian Coal Mining Association
- GAC Shipping (India) Pvt Ltd
- CNBM International Corporation - China
- Iligan Light & Power Inc, Philippines
- The Treasury - Australian Government
- Orica Australia Pty. Ltd.
- Tata Chemicals Ltd - India
- Central Java Power - Indonesia
- Vedanta Resources Plc - India
- Renaissance Capital - South Africa
- Bangladesh Power Developement Board
- CIMB Investment Bank - Malaysia
- SMC Global Power, Philippines
- Sakthi Sugars Limited - India
- Essar Steel Hazira Ltd - India
- Jindal Steel & Power Ltd - India
- Baramulti Group, Indonesia
- Electricity Generating Authority of Thailand
- GMR Energy Limited - India
- Siam City Cement PLC, Thailand
- Merrill Lynch Commodities Europe
- Indo Tambangraya Megah - Indonesia
- Savvy Resources Ltd - HongKong
- Straits Asia Resources Limited - Singapore
- Australian Coal Association
- Binh Thuan Hamico - Vietnam
- McConnell Dowell - Australia
- Global Green Power PLC Corporation, Philippines
- SMG Consultants - Indonesia
- Billiton Holdings Pty Ltd - Australia
- MS Steel International - UAE
- Goldman Sachs - Singapore
- IHS Mccloskey Coal Group - USA
- Indogreen Group - Indonesia
- Barasentosa Lestari - Indonesia
- The State Trading Corporation of India Ltd
- Bukit Baiduri Energy - Indonesia
- Meenaskhi Energy Private Limited - India
- Chettinad Cement Corporation Ltd - India
- Tamil Nadu electricity Board
- LBH Netherlands Bv - Netherlands
- Medco Energi Mining Internasional
- Ministry of Transport, Egypt
- Anglo American - United Kingdom
- Kobexindo Tractors - Indoneisa
- Thai Mozambique Logistica
- Antam Resourcindo - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Latin American Coal - Colombia
- South Luzon Thermal Energy Corporation
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Jaiprakash Power Ventures ltd
- Aditya Birla Group - India
- AsiaOL BioFuels Corp., Philippines
- Oldendorff Carriers - Singapore
- Gujarat Mineral Development Corp Ltd - India
- Timah Investasi Mineral - Indoneisa
- GN Power Mariveles Coal Plant, Philippines
- India Bulls Power Limited - India
- Posco Energy - South Korea
- Deloitte Consulting - India
- Thiess Contractors Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Bhushan Steel Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Carbofer General Trading SA - India
- OPG Power Generation Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Eastern Coal Council - USA
- London Commodity Brokers - England
- Makarim & Taira - Indonesia
- Attock Cement Pakistan Limited
- Wilmar Investment Holdings
- Globalindo Alam Lestari - Indonesia
- Sojitz Corporation - Japan
- Manunggal Multi Energi - Indonesia
- Siam City Cement - Thailand
- Jorong Barutama Greston.PT - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Independent Power Producers Association of India
- Price Waterhouse Coopers - Russia
- San Jose City I Power Corp, Philippines
- Holcim Trading Pte Ltd - Singapore
- Alfred C Toepfer International GmbH - Germany
- Chamber of Mines of South Africa
- Singapore Mercantile Exchange
- Rashtriya Ispat Nigam Limited - India
- PetroVietnam Power Coal Import and Supply Company
- VISA Power Limited - India
- Vizag Seaport Private Limited - India
- Mjunction Services Limited - India
- Maheswari Brothers Coal Limited - India
- Africa Commodities Group - South Africa
- Cement Manufacturers Association - India
- The University of Queensland
- Indika Energy - Indonesia
- Xindia Steels Limited - India
- Edison Trading Spa - Italy
- Semirara Mining and Power Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Dalmia Cement Bharat India
- Intertek Mineral Services - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Sindya Power Generating Company Private Ltd
- Economic Council, Georgia
- Leighton Contractors Pty Ltd - Australia
- IEA Clean Coal Centre - UK
- Wood Mackenzie - Singapore
- Georgia Ports Authority, United States
- Madhucon Powers Ltd - India
- Star Paper Mills Limited - India
- Banpu Public Company Limited - Thailand
- Kohat Cement Company Ltd. - Pakistan
- Krishnapatnam Port Company Ltd. - India
- Kapuas Tunggal Persada - Indonesia
- Borneo Indobara - Indonesia
- Metalloyd Limited - United Kingdom
- Formosa Plastics Group - Taiwan
- Pendopo Energi Batubara - Indonesia
- Mintek Dendrill Indonesia
- Bayan Resources Tbk. - Indonesia
- Indian Energy Exchange, India
- Energy Development Corp, Philippines
- Kartika Selabumi Mining - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Malabar Cements Ltd - India
- Standard Chartered Bank - UAE
- Australian Commodity Traders Exchange
- Interocean Group of Companies - India
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