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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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Sunday, 01 July 12
DSP OF SGX ASIACLEAR OTC COAL SWAP'S THIS WEEKS MOVEMENTS SLIGHTLY POSITIVE
COALspot.com - SGX AsiaClear OTC Coal Swaps have recovered slightly this week and Q4 deliveries are also showing positive direction.
SGX’s ...
Saturday, 30 June 12
THE FREIGHT RATES ARE EXPECTED TO BE STEADY TO FIRM NEXT WEEK - VISTAAR SINGAPORE
COALspot.com – The BDI was up by 2.66 pct (up by 26 points) closing at 1,004 points crossing the 1000 point barrier this week.
The c ...
Friday, 29 June 12
INDONESIAN PRODUCERS ARE PLANNING TO CUT PRODUCTION IF COAL PRICES FALL FURTHER
COALspot.com: Indonesia, the world largest multi grade coal exporter, shipped 31.54* million tons of coal in May 2012, compared to 31.86* mill ...
Friday, 29 June 12
DRY BULK SHIP OWNERS DOING THEIR MATHS BEFORE PLACING NEWBUILDING ORDERS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
With oversupply having plagued the dry bulk shipping fleet since the end of 2011, it’s become ever so evident that placing a newbuilding order ...
Thursday, 28 June 12
DRY BULK MARKET HIGHER ON CAPESIZE OPTIMISM - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market inched a bit higher yesterday, as the BDI (Baltic Dry Index) ended up by 0.71% to 988 points. Most ship types were up, with the ...
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- Indo Tambangraya Megah - Indonesia
- SMC Global Power, Philippines
- Chamber of Mines of South Africa
- New Zealand Coal & Carbon
- Central Java Power - Indonesia
- Trasteel International SA, Italy
- Indogreen Group - Indonesia
- Dalmia Cement Bharat India
- Timah Investasi Mineral - Indoneisa
- TNB Fuel Sdn Bhd - Malaysia
- Maharashtra Electricity Regulatory Commission - India
- Thiess Contractors Indonesia
- Energy Development Corp, Philippines
- Orica Mining Services - Indonesia
- San Jose City I Power Corp, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Therma Luzon, Inc, Philippines
- White Energy Company Limited
- Directorate Of Revenue Intelligence - India
- Meralco Power Generation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Central Electricity Authority - India
- Neyveli Lignite Corporation Ltd, - India
- Gujarat Sidhee Cement - India
- Agrawal Coal Company - India
- Africa Commodities Group - South Africa
- Gujarat Electricity Regulatory Commission - India
- London Commodity Brokers - England
- Uttam Galva Steels Limited - India
- Semirara Mining and Power Corporation, Philippines
- Petron Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Aboitiz Power Corporation - Philippines
- Carbofer General Trading SA - India
- Oldendorff Carriers - Singapore
- PTC India Limited - India
- PowerSource Philippines DevCo
- Directorate General of MIneral and Coal - Indonesia
- Pendopo Energi Batubara - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Mercuria Energy - Indonesia
- Ministry of Transport, Egypt
- Ind-Barath Power Infra Limited - India
- Energy Link Ltd, New Zealand
- Indika Energy - Indonesia
- Ambuja Cements Ltd - India
- Minerals Council of Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Indian Energy Exchange, India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Tamil Nadu electricity Board
- Port Waratah Coal Services - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Standard Chartered Bank - UAE
- CIMB Investment Bank - Malaysia
- Bukit Makmur.PT - Indonesia
- Chettinad Cement Corporation Ltd - India
- South Luzon Thermal Energy Corporation
- Grasim Industreis Ltd - India
- Meenaskhi Energy Private Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- India Bulls Power Limited - India
- Electricity Generating Authority of Thailand
- Sree Jayajothi Cements Limited - India
- Electricity Authority, New Zealand
- Miang Besar Coal Terminal - Indonesia
- Posco Energy - South Korea
- Xindia Steels Limited - India
- Bukit Baiduri Energy - Indonesia
- Marubeni Corporation - India
- Romanian Commodities Exchange
- Asmin Koalindo Tuhup - Indonesia
- Videocon Industries ltd - India
- Straits Asia Resources Limited - Singapore
- Mjunction Services Limited - India
- Coastal Gujarat Power Limited - India
- Savvy Resources Ltd - HongKong
- Interocean Group of Companies - India
- Global Coal Blending Company Limited - Australia
- Singapore Mercantile Exchange
- Edison Trading Spa - Italy
- Kartika Selabumi Mining - Indonesia
- Bangladesh Power Developement Board
- Simpson Spence & Young - Indonesia
- Banpu Public Company Limited - Thailand
- Merrill Lynch Commodities Europe
- Gujarat Mineral Development Corp Ltd - India
- IEA Clean Coal Centre - UK
- Tata Chemicals Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Star Paper Mills Limited - India
- Planning Commission, India
- Karaikal Port Pvt Ltd - India
- Commonwealth Bank - Australia
- PNOC Exploration Corporation - Philippines
- ICICI Bank Limited - India
- Baramulti Group, Indonesia
- Heidelberg Cement - Germany
- Orica Australia Pty. Ltd.
- Sakthi Sugars Limited - India
- Aditya Birla Group - India
- Ministry of Mines - Canada
- Globalindo Alam Lestari - Indonesia
- Kideco Jaya Agung - Indonesia
- Global Business Power Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Kaltim Prima Coal - Indonesia
- Riau Bara Harum - Indonesia
- Eastern Coal Council - USA
- SMG Consultants - Indonesia
- Barasentosa Lestari - Indonesia
- Bharathi Cement Corporation - India
- European Bulk Services B.V. - Netherlands
- Binh Thuan Hamico - Vietnam
- IHS Mccloskey Coal Group - USA
- Renaissance Capital - South Africa
- Kobexindo Tractors - Indoneisa
- Formosa Plastics Group - Taiwan
- Sojitz Corporation - Japan
- Jaiprakash Power Ventures ltd
- Bayan Resources Tbk. - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Global Green Power PLC Corporation, Philippines
- Eastern Energy - Thailand
- Independent Power Producers Association of India
- Cigading International Bulk Terminal - Indonesia
- Samtan Co., Ltd - South Korea
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ministry of Finance - Indonesia
- Sarangani Energy Corporation, Philippines
- Goldman Sachs - Singapore
- McConnell Dowell - Australia
- Vizag Seaport Private Limited - India
- GVK Power & Infra Limited - India
- Siam City Cement PLC, Thailand
- Mintek Dendrill Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ceylon Electricity Board - Sri Lanka
- ASAPP Information Group - India
- Lanco Infratech Ltd - India
- The Treasury - Australian Government
- Latin American Coal - Colombia
- Indonesian Coal Mining Association
- GAC Shipping (India) Pvt Ltd
- AsiaOL BioFuels Corp., Philippines
- Kohat Cement Company Ltd. - Pakistan
- Thai Mozambique Logistica
- GMR Energy Limited - India
- Essar Steel Hazira Ltd - India
- Makarim & Taira - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Leighton Contractors Pty Ltd - Australia
- Billiton Holdings Pty Ltd - Australia
- VISA Power Limited - India
- Alfred C Toepfer International GmbH - Germany
- Madhucon Powers Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Coal and Oil Company - UAE
- Bhushan Steel Limited - India
- Attock Cement Pakistan Limited
- Larsen & Toubro Limited - India
- Sical Logistics Limited - India
- The State Trading Corporation of India Ltd
- Antam Resourcindo - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Price Waterhouse Coopers - Russia
- Anglo American - United Kingdom
- Salva Resources Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- Altura Mining Limited, Indonesia
- Borneo Indobara - Indonesia
- MS Steel International - UAE
- Kapuas Tunggal Persada - Indonesia
- LBH Netherlands Bv - Netherlands
- Siam City Cement - Thailand
- Maheswari Brothers Coal Limited - India
- Australian Commodity Traders Exchange
- Toyota Tsusho Corporation, Japan
- Bulk Trading Sa - Switzerland
- GN Power Mariveles Coal Plant, Philippines
- Semirara Mining Corp, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kepco SPC Power Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- Mercator Lines Limited - India
- Power Finance Corporation Ltd., India
- Coalindo Energy - Indonesia
- Deloitte Consulting - India
- Georgia Ports Authority, United States
- Wood Mackenzie - Singapore
- Cement Manufacturers Association - India
- International Coal Ventures Pvt Ltd - India
- Wilmar Investment Holdings
- SN Aboitiz Power Inc, Philippines
- Economic Council, Georgia
- Bhoruka Overseas - Indonesia
- TeaM Sual Corporation - Philippines
- Bhatia International Limited - India
- Metalloyd Limited - United Kingdom
- Holcim Trading Pte Ltd - Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Krishnapatnam Port Company Ltd. - India
- Vedanta Resources Plc - India
- Kumho Petrochemical, South Korea
- CNBM International Corporation - China
- Intertek Mineral Services - Indonesia
- Australian Coal Association
- Sindya Power Generating Company Private Ltd
- Rio Tinto Coal - Australia
- OPG Power Generation Pvt Ltd - India
- Indian Oil Corporation Limited
- Parry Sugars Refinery, India
- Medco Energi Mining Internasional
- The University of Queensland
- Parliament of New Zealand
- Malabar Cements Ltd - India
- Iligan Light & Power Inc, Philippines
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