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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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Friday, 22 June 12
GLOBAL ACTION NEEDED ON ENERGY POVERTY - WORLD COAL
Eradicating energy poverty is possibly the biggest challenge facing the world today. Like climate change it can only be addressed with a concerted g ...
Friday, 22 June 12
COAL: THE BACKBONE OF MODERN ELECTRICITY - ECOAL
Coal has been described as the "forgotten fuel," perhaps because many aren't aware of the huge role it plays in powering the global econo ...
Thursday, 21 June 12
DRY BULK MARKET ON THE RISE AGAIN - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market was on the rise once again yesterday, with the Baltic Dry Index (BDI), the industry’s benchmark, rising by 18 points, or 1 ...
Wednesday, 20 June 12
BDI MOVING HIGHER, PANAMAX AND SUPRAMAX VESSELS STRONGER, CAPESIZE RATES NEAR TO HISTORICAL LOWS OF DECEMBER 2008 - MARIA BERTZELETOU, HELLENIC SHIPPING
The dry market seems to follow the dynamic of the previous week with the Baltic Dry Index showing daily increases since June 8th, but is still stand ...
Tuesday, 19 June 12
SMALLER DRY BULK CARRIERS LIFT UP MARKET, PANAMAXES SET TO FALL SAYS ANALYST - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Another rise for the dry bulk market was evident yesterday, as the industry’s benchmark, the BDI (Baltic Dry Index) was up for a ninth straigh ...
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- OPG Power Generation Pvt Ltd - India
- Coal and Oil Company - UAE
- Simpson Spence & Young - Indonesia
- Romanian Commodities Exchange
- Renaissance Capital - South Africa
- Holcim Trading Pte Ltd - Singapore
- Cigading International Bulk Terminal - Indonesia
- Merrill Lynch Commodities Europe
- VISA Power Limited - India
- Marubeni Corporation - India
- Gujarat Mineral Development Corp Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Kideco Jaya Agung - Indonesia
- Sojitz Corporation - Japan
- Posco Energy - South Korea
- Eastern Energy - Thailand
- Leighton Contractors Pty Ltd - Australia
- Gujarat Sidhee Cement - India
- Ministry of Finance - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- PTC India Limited - India
- Pendopo Energi Batubara - Indonesia
- Latin American Coal - Colombia
- Planning Commission, India
- Krishnapatnam Port Company Ltd. - India
- Vedanta Resources Plc - India
- Kalimantan Lumbung Energi - Indonesia
- Africa Commodities Group - South Africa
- Attock Cement Pakistan Limited
- Global Green Power PLC Corporation, Philippines
- Kumho Petrochemical, South Korea
- MS Steel International - UAE
- Heidelberg Cement - Germany
- Medco Energi Mining Internasional
- Toyota Tsusho Corporation, Japan
- Lanco Infratech Ltd - India
- Baramulti Group, Indonesia
- Dalmia Cement Bharat India
- Kobexindo Tractors - Indoneisa
- Larsen & Toubro Limited - India
- Aboitiz Power Corporation - Philippines
- Straits Asia Resources Limited - Singapore
- South Luzon Thermal Energy Corporation
- Jaiprakash Power Ventures ltd
- Sical Logistics Limited - India
- Riau Bara Harum - Indonesia
- Directorate Of Revenue Intelligence - India
- Commonwealth Bank - Australia
- IEA Clean Coal Centre - UK
- Kepco SPC Power Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- TeaM Sual Corporation - Philippines
- Australian Commodity Traders Exchange
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Power Finance Corporation Ltd., India
- Pipit Mutiara Jaya. PT, Indonesia
- Wood Mackenzie - Singapore
- Therma Luzon, Inc, Philippines
- Manunggal Multi Energi - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Kartika Selabumi Mining - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Georgia Ports Authority, United States
- CNBM International Corporation - China
- Kaltim Prima Coal - Indonesia
- Mercator Lines Limited - India
- Videocon Industries ltd - India
- Bhushan Steel Limited - India
- Goldman Sachs - Singapore
- Bukit Baiduri Energy - Indonesia
- Bayan Resources Tbk. - Indonesia
- LBH Netherlands Bv - Netherlands
- Indian Oil Corporation Limited
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Orica Mining Services - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Barasentosa Lestari - Indonesia
- Altura Mining Limited, Indonesia
- Alfred C Toepfer International GmbH - Germany
- Vijayanagar Sugar Pvt Ltd - India
- Vizag Seaport Private Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- Karbindo Abesyapradhi - Indoneisa
- GN Power Mariveles Coal Plant, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- PNOC Exploration Corporation - Philippines
- Jorong Barutama Greston.PT - Indonesia
- Anglo American - United Kingdom
- Grasim Industreis Ltd - India
- PowerSource Philippines DevCo
- GAC Shipping (India) Pvt Ltd
- San Jose City I Power Corp, Philippines
- White Energy Company Limited
- Mintek Dendrill Indonesia
- Chettinad Cement Corporation Ltd - India
- Jindal Steel & Power Ltd - India
- Standard Chartered Bank - UAE
- Sakthi Sugars Limited - India
- SN Aboitiz Power Inc, Philippines
- Banpu Public Company Limited - Thailand
- London Commodity Brokers - England
- Indonesian Coal Mining Association
- Sarangani Energy Corporation, Philippines
- Semirara Mining Corp, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Malabar Cements Ltd - India
- Ministry of Mines - Canada
- Trasteel International SA, Italy
- Metalloyd Limited - United Kingdom
- Chamber of Mines of South Africa
- Intertek Mineral Services - Indonesia
- Global Coal Blending Company Limited - Australia
- Wilmar Investment Holdings
- Binh Thuan Hamico - Vietnam
- Iligan Light & Power Inc, Philippines
- Oldendorff Carriers - Singapore
- Singapore Mercantile Exchange
- The University of Queensland
- Indika Energy - Indonesia
- Orica Australia Pty. Ltd.
- Petron Corporation, Philippines
- Electricity Generating Authority of Thailand
- Indogreen Group - Indonesia
- Timah Investasi Mineral - Indoneisa
- Sinarmas Energy and Mining - Indonesia
- Australian Coal Association
- Cement Manufacturers Association - India
- Minerals Council of Australia
- Siam City Cement - Thailand
- Bhatia International Limited - India
- Indo Tambangraya Megah - Indonesia
- Globalindo Alam Lestari - Indonesia
- Madhucon Powers Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Bahari Cakrawala Sebuku - Indonesia
- Energy Link Ltd, New Zealand
- Antam Resourcindo - Indonesia
- Mjunction Services Limited - India
- Meralco Power Generation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Xindia Steels Limited - India
- International Coal Ventures Pvt Ltd - India
- Bharathi Cement Corporation - India
- Siam City Cement PLC, Thailand
- SMG Consultants - Indonesia
- Central Java Power - Indonesia
- Ministry of Transport, Egypt
- Agrawal Coal Company - India
- Savvy Resources Ltd - HongKong
- Ind-Barath Power Infra Limited - India
- Rio Tinto Coal - Australia
- Meenaskhi Energy Private Limited - India
- GMR Energy Limited - India
- Coalindo Energy - Indonesia
- European Bulk Services B.V. - Netherlands
- New Zealand Coal & Carbon
- AsiaOL BioFuels Corp., Philippines
- GVK Power & Infra Limited - India
- Bukit Makmur.PT - Indonesia
- Central Electricity Authority - India
- Uttam Galva Steels Limited - India
- Interocean Group of Companies - India
- Economic Council, Georgia
- Electricity Authority, New Zealand
- Carbofer General Trading SA - India
- Coastal Gujarat Power Limited - India
- Energy Development Corp, Philippines
- ICICI Bank Limited - India
- Indian Energy Exchange, India
- Deloitte Consulting - India
- Port Waratah Coal Services - Australia
- Eastern Coal Council - USA
- India Bulls Power Limited - India
- Global Business Power Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Parry Sugars Refinery, India
- Karaikal Port Pvt Ltd - India
- Parliament of New Zealand
- The Treasury - Australian Government
- Bukit Asam (Persero) Tbk - Indonesia
- IHS Mccloskey Coal Group - USA
- Thiess Contractors Indonesia
- Borneo Indobara - Indonesia
- Tata Chemicals Ltd - India
- Sindya Power Generating Company Private Ltd
- Gujarat Electricity Regulatory Commission - India
- Star Paper Mills Limited - India
- Maharashtra Electricity Regulatory Commission - India
- The State Trading Corporation of India Ltd
- Makarim & Taira - Indonesia
- Price Waterhouse Coopers - Russia
- CIMB Investment Bank - Malaysia
- Edison Trading Spa - Italy
- Kapuas Tunggal Persada - Indonesia
- Bulk Trading Sa - Switzerland
- Thai Mozambique Logistica
- Billiton Holdings Pty Ltd - Australia
- Samtan Co., Ltd - South Korea
- SMC Global Power, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Essar Steel Hazira Ltd - India
- Aditya Birla Group - India
- Kohat Cement Company Ltd. - Pakistan
- Ambuja Cements Ltd - India
- Sree Jayajothi Cements Limited - India
- Independent Power Producers Association of India
- Mercuria Energy - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bangladesh Power Developement Board
- Formosa Plastics Group - Taiwan
- Salva Resources Pvt Ltd - India
- Tamil Nadu electricity Board
- Bhoruka Overseas - Indonesia
- ASAPP Information Group - India
- McConnell Dowell - Australia
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