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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, 07 July 12
EXCESS SUPPLY & WEAK DEMAND KEEP COAL PRICES LOW
COALspot.com - SGX AsiaClear OTC Coal Swaps for August and Q4 deliveries slipped slightly this week. SGX’s Indonesian sub-bituminous coal swap ...
Saturday, 07 July 12
BALTIC INDEX UP ON STRONG CAPE, PANAMAX RATES - VISTAAR
COALspot.com - This week all the segments were firmed up with BDI up by 15.23 pct (up by 153 points) closing at 1,157 points.
The cape index also ...
Saturday, 07 July 12
DRY BULK MARKET NOT ABLE TO FIND SOLID GROUND SAY EXPERTS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
With the second half of each, traditionally looking the most active one, especially in terms of newbuildings being delivered, it's highly unlikely ...
Thursday, 05 July 12
GOVT GETS READY FOR $1.8B SUIT - THE JAKARTA POST
The Jakarta Post, one of the leading Indonesian English new papers reported that, several ministries and the Attorney General’s Office held a ...
Thursday, 05 July 12
DRY BULK MARKET MOVES FURTHER UP THE HILL - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has kept its growth momentum by the middle of the week, as the BDI (Baltic Dry Index) rose by an additional 40 points to 1,103 p ...
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- Intertek Mineral Services - Indonesia
- Coastal Gujarat Power Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Ind-Barath Power Infra Limited - India
- Gujarat Electricity Regulatory Commission - India
- Australian Commodity Traders Exchange
- Tamil Nadu electricity Board
- Attock Cement Pakistan Limited
- Bank of Tokyo Mitsubishi UFJ Ltd
- Miang Besar Coal Terminal - Indonesia
- Sical Logistics Limited - India
- Heidelberg Cement - Germany
- Bahari Cakrawala Sebuku - Indonesia
- TeaM Sual Corporation - Philippines
- CIMB Investment Bank - Malaysia
- Kartika Selabumi Mining - Indonesia
- Sojitz Corporation - Japan
- Central Java Power - Indonesia
- Indian Oil Corporation Limited
- International Coal Ventures Pvt Ltd - India
- Posco Energy - South Korea
- Bhoruka Overseas - Indonesia
- Latin American Coal - Colombia
- South Luzon Thermal Energy Corporation
- Economic Council, Georgia
- Deloitte Consulting - India
- Indika Energy - Indonesia
- Mercator Lines Limited - India
- Straits Asia Resources Limited - Singapore
- Malabar Cements Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Therma Luzon, Inc, Philippines
- Medco Energi Mining Internasional
- Parliament of New Zealand
- Wilmar Investment Holdings
- Commonwealth Bank - Australia
- Rio Tinto Coal - Australia
- Billiton Holdings Pty Ltd - Australia
- India Bulls Power Limited - India
- Sakthi Sugars Limited - India
- Altura Mining Limited, Indonesia
- GAC Shipping (India) Pvt Ltd
- VISA Power Limited - India
- Metalloyd Limited - United Kingdom
- Offshore Bulk Terminal Pte Ltd, Singapore
- Electricity Generating Authority of Thailand
- Port Waratah Coal Services - Australia
- Kalimantan Lumbung Energi - Indonesia
- Kobexindo Tractors - Indoneisa
- Bharathi Cement Corporation - India
- Marubeni Corporation - India
- Barasentosa Lestari - Indonesia
- Africa Commodities Group - South Africa
- Chettinad Cement Corporation Ltd - India
- Toyota Tsusho Corporation, Japan
- Makarim & Taira - Indonesia
- Xindia Steels Limited - India
- Mercuria Energy - Indonesia
- Aditya Birla Group - India
- Banpu Public Company Limited - Thailand
- Vijayanagar Sugar Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- Central Electricity Authority - India
- Bukit Baiduri Energy - Indonesia
- LBH Netherlands Bv - Netherlands
- London Commodity Brokers - England
- ICICI Bank Limited - India
- Coalindo Energy - Indonesia
- The Treasury - Australian Government
- Indonesian Coal Mining Association
- Binh Thuan Hamico - Vietnam
- PTC India Limited - India
- Ambuja Cements Ltd - India
- Bhatia International Limited - India
- Independent Power Producers Association of India
- Holcim Trading Pte Ltd - Singapore
- SN Aboitiz Power Inc, Philippines
- New Zealand Coal & Carbon
- Larsen & Toubro Limited - India
- Romanian Commodities Exchange
- European Bulk Services B.V. - Netherlands
- Anglo American - United Kingdom
- Trasteel International SA, Italy
- GMR Energy Limited - India
- Manunggal Multi Energi - Indonesia
- Bayan Resources Tbk. - Indonesia
- Price Waterhouse Coopers - Russia
- Asmin Koalindo Tuhup - Indonesia
- Maheswari Brothers Coal Limited - India
- Carbofer General Trading SA - India
- Sarangani Energy Corporation, Philippines
- Agrawal Coal Company - India
- Cement Manufacturers Association - India
- Singapore Mercantile Exchange
- Kepco SPC Power Corporation, Philippines
- Bangladesh Power Developement Board
- GVK Power & Infra Limited - India
- Leighton Contractors Pty Ltd - Australia
- Petron Corporation, Philippines
- McConnell Dowell - Australia
- Timah Investasi Mineral - Indoneisa
- Savvy Resources Ltd - HongKong
- Thai Mozambique Logistica
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Essar Steel Hazira Ltd - India
- Globalindo Alam Lestari - Indonesia
- Chamber of Mines of South Africa
- Star Paper Mills Limited - India
- Alfred C Toepfer International GmbH - Germany
- Eastern Energy - Thailand
- Indian Energy Exchange, India
- Planning Commission, India
- Orica Mining Services - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- CNBM International Corporation - China
- OPG Power Generation Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Energy Link Ltd, New Zealand
- Bhushan Steel Limited - India
- Ministry of Mines - Canada
- Indogreen Group - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Thiess Contractors Indonesia
- San Jose City I Power Corp, Philippines
- White Energy Company Limited
- Parry Sugars Refinery, India
- Riau Bara Harum - Indonesia
- Meralco Power Generation, Philippines
- Dalmia Cement Bharat India
- Kapuas Tunggal Persada - Indonesia
- Global Business Power Corporation, Philippines
- Baramulti Group, Indonesia
- Iligan Light & Power Inc, Philippines
- SMC Global Power, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- PetroVietnam Power Coal Import and Supply Company
- SMG Consultants - Indonesia
- PNOC Exploration Corporation - Philippines
- Wood Mackenzie - Singapore
- Electricity Authority, New Zealand
- Australian Coal Association
- Pendopo Energi Batubara - Indonesia
- Power Finance Corporation Ltd., India
- Global Coal Blending Company Limited - Australia
- Edison Trading Spa - Italy
- Maharashtra Electricity Regulatory Commission - India
- Pipit Mutiara Jaya. PT, Indonesia
- Madhucon Powers Ltd - India
- PowerSource Philippines DevCo
- Kideco Jaya Agung - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Vizag Seaport Private Limited - India
- Tata Chemicals Ltd - India
- Kaltim Prima Coal - Indonesia
- Mjunction Services Limited - India
- IEA Clean Coal Centre - UK
- ASAPP Information Group - India
- The University of Queensland
- Bulk Trading Sa - Switzerland
- Uttam Galva Steels Limited - India
- Global Green Power PLC Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Petrochimia International Co. Ltd.- Taiwan
- Jorong Barutama Greston.PT - Indonesia
- Formosa Plastics Group - Taiwan
- Ministry of Transport, Egypt
- Coal and Oil Company - UAE
- Antam Resourcindo - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Borneo Indobara - Indonesia
- Grasim Industreis Ltd - India
- Standard Chartered Bank - UAE
- The State Trading Corporation of India Ltd
- Bukit Makmur.PT - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ministry of Finance - Indonesia
- Minerals Council of Australia
- Gujarat Sidhee Cement - India
- Mintek Dendrill Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Siam City Cement - Thailand
- Energy Development Corp, Philippines
- AsiaOL BioFuels Corp., Philippines
- GN Power Mariveles Coal Plant, Philippines
- Videocon Industries ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sree Jayajothi Cements Limited - India
- Jaiprakash Power Ventures ltd
- Georgia Ports Authority, United States
- Directorate Of Revenue Intelligence - India
- Jindal Steel & Power Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Renaissance Capital - South Africa
- Sinarmas Energy and Mining - Indonesia
- Interocean Group of Companies - India
- Meenaskhi Energy Private Limited - India
- MS Steel International - UAE
- Oldendorff Carriers - Singapore
- Samtan Co., Ltd - South Korea
- Karaikal Port Pvt Ltd - India
- Lanco Infratech Ltd - India
- Semirara Mining Corp, Philippines
- Kumho Petrochemical, South Korea
- Siam City Cement PLC, Thailand
- Salva Resources Pvt Ltd - India
- Goldman Sachs - Singapore
- Eastern Coal Council - USA
- Kohat Cement Company Ltd. - Pakistan
- IHS Mccloskey Coal Group - USA
- Simpson Spence & Young - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Vedanta Resources Plc - India
- Orica Australia Pty. Ltd.
- Merrill Lynch Commodities Europe
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