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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, 27 June 12
DIRECTORATE GENERAL OF MINERAL AND COAL OF INDONESIA INTRODUCES ON-LINE SYSTEM FOR MINING PRODUCTS EXPORT APPROVAL
COALspot.com - Directorate General of Mineral and Coal of Indonesia has released "Clear and Clean" certificate for another 33 coal miners ...
Monday, 25 June 12
RIO TINTO MAKES FIRST COAL SHIPMENT FROM MOZAMBIQUE
Rio Tinto has started exporting premium hard coking coal from its Benga Mine in the Moatize Basin in Mozambique. The first shipment of 34,000 tonnes ...
Sunday, 24 June 12
SUPRAMAX FREIGHT MARKET FIRMED UP FROM INDONESIA TO INDIA - VISTAAR
COALspot.com - This week all the segments gained and marked was firm in the Supramax and Handy size sector, where as the Cape and Panamax inde ...
Saturday, 23 June 12
COAL PRICES APPETITE FOR ROLLER-COASTER RIDES
COALspot.com - SGX AsiaClear OTC Coal Swaps have suffered something of a roller-coaster ride in terms of prices during this week. SGX’s Indone ...
Friday, 22 June 12
PRESENT SPOT WEAKNESS IS TEMPORARY, SEASONAL AND RISE AS WINTER APPROACHES - BUMI
COALspot.com - PT Bumi Resources Tbk, the world’s one of the largest coal producer and Indonesia’s largest multi grade coal miner has no ...
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- Siam City Cement PLC, Thailand
- Economic Council, Georgia
- Bulk Trading Sa - Switzerland
- Videocon Industries ltd - India
- Wilmar Investment Holdings
- Holcim Trading Pte Ltd - Singapore
- Madhucon Powers Ltd - India
- Vedanta Resources Plc - India
- SN Aboitiz Power Inc, Philippines
- Sree Jayajothi Cements Limited - India
- Heidelberg Cement - Germany
- Port Waratah Coal Services - Australia
- GAC Shipping (India) Pvt Ltd
- Savvy Resources Ltd - HongKong
- Uttam Galva Steels Limited - India
- Timah Investasi Mineral - Indoneisa
- Ceylon Electricity Board - Sri Lanka
- IEA Clean Coal Centre - UK
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Coastal Gujarat Power Limited - India
- Jindal Steel & Power Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Bharathi Cement Corporation - India
- Therma Luzon, Inc, Philippines
- Sical Logistics Limited - India
- PowerSource Philippines DevCo
- Karbindo Abesyapradhi - Indoneisa
- PTC India Limited - India
- Indian Energy Exchange, India
- Deloitte Consulting - India
- Marubeni Corporation - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Independent Power Producers Association of India
- Ambuja Cements Ltd - India
- Coalindo Energy - Indonesia
- Standard Chartered Bank - UAE
- Billiton Holdings Pty Ltd - Australia
- Edison Trading Spa - Italy
- Toyota Tsusho Corporation, Japan
- Power Finance Corporation Ltd., India
- Orica Australia Pty. Ltd.
- Thiess Contractors Indonesia
- Agrawal Coal Company - India
- Meenaskhi Energy Private Limited - India
- Bhushan Steel Limited - India
- White Energy Company Limited
- GN Power Mariveles Coal Plant, Philippines
- India Bulls Power Limited - India
- Malabar Cements Ltd - India
- OPG Power Generation Pvt Ltd - India
- Bangladesh Power Developement Board
- Indika Energy - Indonesia
- Wood Mackenzie - Singapore
- Simpson Spence & Young - Indonesia
- Planning Commission, India
- Ministry of Mines - Canada
- Jorong Barutama Greston.PT - Indonesia
- Australian Coal Association
- Meralco Power Generation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Africa Commodities Group - South Africa
- Iligan Light & Power Inc, Philippines
- Kapuas Tunggal Persada - Indonesia
- Mercuria Energy - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- The State Trading Corporation of India Ltd
- Indogreen Group - Indonesia
- Commonwealth Bank - Australia
- New Zealand Coal & Carbon
- Cement Manufacturers Association - India
- Samtan Co., Ltd - South Korea
- Sojitz Corporation - Japan
- Mintek Dendrill Indonesia
- Banpu Public Company Limited - Thailand
- Manunggal Multi Energi - Indonesia
- Globalindo Alam Lestari - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- LBH Netherlands Bv - Netherlands
- Bhatia International Limited - India
- Ministry of Transport, Egypt
- IHS Mccloskey Coal Group - USA
- Jaiprakash Power Ventures ltd
- Electricity Generating Authority of Thailand
- Aditya Birla Group - India
- Carbofer General Trading SA - India
- Global Green Power PLC Corporation, Philippines
- Essar Steel Hazira Ltd - India
- Xindia Steels Limited - India
- Sakthi Sugars Limited - India
- McConnell Dowell - Australia
- Romanian Commodities Exchange
- Lanco Infratech Ltd - India
- TeaM Sual Corporation - Philippines
- Tata Chemicals Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Bhoruka Overseas - Indonesia
- Borneo Indobara - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Price Waterhouse Coopers - Russia
- Bukit Makmur.PT - Indonesia
- Metalloyd Limited - United Kingdom
- Global Coal Blending Company Limited - Australia
- Indonesian Coal Mining Association
- Australian Commodity Traders Exchange
- International Coal Ventures Pvt Ltd - India
- Electricity Authority, New Zealand
- Merrill Lynch Commodities Europe
- Energy Development Corp, Philippines
- Indo Tambangraya Megah - Indonesia
- Energy Link Ltd, New Zealand
- Krishnapatnam Port Company Ltd. - India
- Pipit Mutiara Jaya. PT, Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Medco Energi Mining Internasional
- Singapore Mercantile Exchange
- San Jose City I Power Corp, Philippines
- GVK Power & Infra Limited - India
- Antam Resourcindo - Indonesia
- Kumho Petrochemical, South Korea
- Posco Energy - South Korea
- Aboitiz Power Corporation - Philippines
- Binh Thuan Hamico - Vietnam
- Miang Besar Coal Terminal - Indonesia
- Altura Mining Limited, Indonesia
- ASAPP Information Group - India
- Thai Mozambique Logistica
- Karaikal Port Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- Goldman Sachs - Singapore
- Leighton Contractors Pty Ltd - Australia
- Orica Mining Services - Indonesia
- Petron Corporation, Philippines
- Tamil Nadu electricity Board
- Parry Sugars Refinery, India
- GMR Energy Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Central Electricity Authority - India
- Gujarat Sidhee Cement - India
- Baramulti Group, Indonesia
- ICICI Bank Limited - India
- MS Steel International - UAE
- Chamber of Mines of South Africa
- Indian Oil Corporation Limited
- Petrochimia International Co. Ltd.- Taiwan
- CNBM International Corporation - China
- Directorate Of Revenue Intelligence - India
- Trasteel International SA, Italy
- Riau Bara Harum - Indonesia
- CIMB Investment Bank - Malaysia
- Grasim Industreis Ltd - India
- Global Business Power Corporation, Philippines
- Anglo American - United Kingdom
- Larsen & Toubro Limited - India
- Maheswari Brothers Coal Limited - India
- Semirara Mining and Power Corporation, Philippines
- Dalmia Cement Bharat India
- Alfred C Toepfer International GmbH - Germany
- Chettinad Cement Corporation Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- SMC Global Power, Philippines
- Ministry of Finance - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Siam City Cement - Thailand
- Rio Tinto Coal - Australia
- Barasentosa Lestari - Indonesia
- Georgia Ports Authority, United States
- Intertek Mineral Services - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Semirara Mining Corp, Philippines
- Attock Cement Pakistan Limited
- SMG Consultants - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Straits Asia Resources Limited - Singapore
- Vizag Seaport Private Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Interocean Group of Companies - India
- Pendopo Energi Batubara - Indonesia
- Central Java Power - Indonesia
- Salva Resources Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- Latin American Coal - Colombia
- Kartika Selabumi Mining - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Ind-Barath Power Infra Limited - India
- Eastern Coal Council - USA
- Star Paper Mills Limited - India
- Kepco SPC Power Corporation, Philippines
- Minerals Council of Australia
- Kobexindo Tractors - Indoneisa
- Makarim & Taira - Indonesia
- Coal and Oil Company - UAE
- Gujarat Electricity Regulatory Commission - India
- Renaissance Capital - South Africa
- Formosa Plastics Group - Taiwan
- Bukit Baiduri Energy - Indonesia
- Kaltim Prima Coal - Indonesia
- Kideco Jaya Agung - Indonesia
- London Commodity Brokers - England
- Bahari Cakrawala Sebuku - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Oldendorff Carriers - Singapore
- Eastern Energy - Thailand
- Parliament of New Zealand
- Bayan Resources Tbk. - Indonesia
- Mjunction Services Limited - India
- The Treasury - Australian Government
- The University of Queensland
- Mercator Lines Limited - India
- VISA Power Limited - India
- European Bulk Services B.V. - Netherlands
- Bank of Tokyo Mitsubishi UFJ Ltd
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