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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, 05 July 12
BUMI ACHIEVES HIGHER SELLING PRICE IN FIRST QUARTER
COALspot.com - PT Bumi Resources Tbk (BUMI), Indonesia's largest coal producer and exporter, has successfully maintained a higher sales margin, des ...
Tuesday, 03 July 12
DRY BULK MARKET INCHED FORWARD AT THE START OF THE WEEK - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market inched forward at the beginning of the new week, prior to the US holidays regarding the celebration of the 4th of July, which is ...
Monday, 02 July 12
ORPHEUS STRENGTHENS REVENUE STREAM WITH NEW ROYALTY AGREEMENT AT THE B2 COAL PROJECT
Orpheus Energy (ASX:OEG) is pleased to advise that it has executed a life of mine Royalty Agreement with Indonesian mining contractor PT Debbia Mini ...
Monday, 02 July 12
DRY BULK DEMAND TO RISE TO 3.6 BILLION TONNES IN 2012, BUT NEW BUILDING DELIVERIES ARE
In its latest analysis on the dry bulk market fundamentals, DVB Bank said that dry bulk cargo demand is forecast to rise to approximately 3.6 billio ...
Sunday, 01 July 12
AUSTRALIAS CARBON TAX - SUNIL K KUMBHAT
COALspot.com - Climate Change
Climate change and global warming have now become buzzwords the world over. The disastrous consequences for global ...
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- Global Green Power PLC Corporation, Philippines
- Binh Thuan Hamico - Vietnam
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- Merrill Lynch Commodities Europe
- Tamil Nadu electricity Board
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- Deloitte Consulting - India
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- Salva Resources Pvt Ltd - India
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- AsiaOL BioFuels Corp., Philippines
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- Alfred C Toepfer International GmbH - Germany
- Romanian Commodities Exchange
- Central Electricity Authority - India
- Edison Trading Spa - Italy
- Eastern Energy - Thailand
- Bhoruka Overseas - Indonesia
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- Vijayanagar Sugar Pvt Ltd - India
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- Sarangani Energy Corporation, Philippines
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- Meenaskhi Energy Private Limited - India
- Ministry of Mines - Canada
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- Africa Commodities Group - South Africa
- Ambuja Cements Ltd - India
- Bulk Trading Sa - Switzerland
- Krishnapatnam Port Company Ltd. - India
- Bhatia International Limited - India
- Price Waterhouse Coopers - Russia
- Minerals Council of Australia
- Indian Oil Corporation Limited
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- India Bulls Power Limited - India
- Oldendorff Carriers - Singapore
- Global Business Power Corporation, Philippines
- Wilmar Investment Holdings
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Formosa Plastics Group - Taiwan
- MS Steel International - UAE
- Sojitz Corporation - Japan
- Attock Cement Pakistan Limited
- Globalindo Alam Lestari - Indonesia
- Power Finance Corporation Ltd., India
- IHS Mccloskey Coal Group - USA
- Sical Logistics Limited - India
- Xindia Steels Limited - India
- Pendopo Energi Batubara - Indonesia
- New Zealand Coal & Carbon
- Coastal Gujarat Power Limited - India
- Bhushan Steel Limited - India
- Neyveli Lignite Corporation Ltd, - India
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- Toyota Tsusho Corporation, Japan
- Posco Energy - South Korea
- Interocean Group of Companies - India
- Orica Mining Services - Indonesia
- Australian Commodity Traders Exchange
- Semirara Mining Corp, Philippines
- Kaltim Prima Coal - Indonesia
- Baramulti Group, Indonesia
- Chamber of Mines of South Africa
- Siam City Cement - Thailand
- Medco Energi Mining Internasional
- Wood Mackenzie - Singapore
- Kartika Selabumi Mining - Indonesia
- Mjunction Services Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Singapore Mercantile Exchange
- Jaiprakash Power Ventures ltd
- Makarim & Taira - Indonesia
- San Jose City I Power Corp, Philippines
- Port Waratah Coal Services - Australia
- The State Trading Corporation of India Ltd
- Bangladesh Power Developement Board
- The Treasury - Australian Government
- Mercuria Energy - Indonesia
- Altura Mining Limited, Indonesia
- Uttam Galva Steels Limited - India
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- Savvy Resources Ltd - HongKong
- SN Aboitiz Power Inc, Philippines
- Ministry of Transport, Egypt
- Kohat Cement Company Ltd. - Pakistan
- Aditya Birla Group - India
- Coalindo Energy - Indonesia
- Banpu Public Company Limited - Thailand
- London Commodity Brokers - England
- IEA Clean Coal Centre - UK
- Riau Bara Harum - Indonesia
- Aboitiz Power Corporation - Philippines
- Anglo American - United Kingdom
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Maharashtra Electricity Regulatory Commission - India
- Latin American Coal - Colombia
- TeaM Sual Corporation - Philippines
- Straits Asia Resources Limited - Singapore
- Dalmia Cement Bharat India
- Vizag Seaport Private Limited - India
- Simpson Spence & Young - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Energy Development Corp, Philippines
- Kepco SPC Power Corporation, Philippines
- Petron Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- Planning Commission, India
- Goldman Sachs - Singapore
- Trasteel International SA, Italy
- Kapuas Tunggal Persada - Indonesia
- Parliament of New Zealand
- Indogreen Group - Indonesia
- Energy Link Ltd, New Zealand
- Indian Energy Exchange, India
- Grasim Industreis Ltd - India
- Semirara Mining and Power Corporation, Philippines
- SMC Global Power, Philippines
- Borneo Indobara - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Billiton Holdings Pty Ltd - Australia
- Cigading International Bulk Terminal - Indonesia
- Carbofer General Trading SA - India
- Mintek Dendrill Indonesia
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- Thiess Contractors Indonesia
- Independent Power Producers Association of India
- ASAPP Information Group - India
- International Coal Ventures Pvt Ltd - India
- Barasentosa Lestari - Indonesia
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- PNOC Exploration Corporation - Philippines
- Kobexindo Tractors - Indoneisa
- Marubeni Corporation - India
- Renaissance Capital - South Africa
- Georgia Ports Authority, United States
- Commonwealth Bank - Australia
- Lanco Infratech Ltd - India
- The University of Queensland
- Coal and Oil Company - UAE
- Jorong Barutama Greston.PT - Indonesia
- Economic Council, Georgia
- Bukit Asam (Persero) Tbk - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Sree Jayajothi Cements Limited - India
- Kalimantan Lumbung Energi - Indonesia
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- Manunggal Multi Energi - Indonesia
- Essar Steel Hazira Ltd - India
- ICICI Bank Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Rio Tinto Coal - Australia
- Videocon Industries ltd - India
- Ministry of Finance - Indonesia
- Malabar Cements Ltd - India
- European Bulk Services B.V. - Netherlands
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