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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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Tuesday, 12 June 12
ITACHA RESOURCES BUYS SARANA MARINE - INSIDER STORIES
Insider Stories reported that, coal mining company PT Itacha Resources, a joint venture between Anthoni Salim and Glenn Yusuf, announced that Itacha ...
Monday, 11 June 12
BAHANA FORECASTS THE COAL PRICES WILL FALL FURTHER
COALspot.com - Growing US coal supplies + low shipping costs = Asia as target.
According to Irwan Budiarto analyst at Bahana Securities, US ...
Monday, 11 June 12
ASIAN COAL TRADING COMMUNITY EMBRACES API 5 AND API 8
Press Release - The Asian coal trading community is embracing the API 5 and API 8 indexes for its swap contracts.
The API 5 index represents 5,50 ...
Sunday, 10 June 12
FREIGHT MARKET EXPECTED TO REMAIN WEAK FOR NEXT FEW WEEKS - VISTAAR
COALspot.com - The BDI continued to fall this week and down by 2.99 pct closing at 877 points.
The Cape index also was down by 5.78 pct closing a ...
Friday, 08 June 12
ESSAR ENERGY RECEIVES FINAL APPROVAL FOR INDONESIAN COAL BLOCK
COALspot.com - Essar Energy plc, the India-focused integrated energy company, today announced that it has received final ‘Pinjam Pakai’ ...
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- White Energy Company Limited
- Timah Investasi Mineral - Indoneisa
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- The University of Queensland
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- Siam City Cement PLC, Thailand
- Australian Commodity Traders Exchange
- Renaissance Capital - South Africa
- Semirara Mining and Power Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Coastal Gujarat Power Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Global Business Power Corporation, Philippines
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- Trasteel International SA, Italy
- Cigading International Bulk Terminal - Indonesia
- Planning Commission, India
- Parliament of New Zealand
- Meralco Power Generation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Malabar Cements Ltd - India
- Ministry of Transport, Egypt
- Billiton Holdings Pty Ltd - Australia
- Indika Energy - Indonesia
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- PNOC Exploration Corporation - Philippines
- Chamber of Mines of South Africa
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- Interocean Group of Companies - India
- LBH Netherlands Bv - Netherlands
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- Uttam Galva Steels Limited - India
- Sojitz Corporation - Japan
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- Sindya Power Generating Company Private Ltd
- Sree Jayajothi Cements Limited - India
- Global Coal Blending Company Limited - Australia
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- Merrill Lynch Commodities Europe
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- Africa Commodities Group - South Africa
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- Georgia Ports Authority, United States
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- Dalmia Cement Bharat India
- McConnell Dowell - Australia
- Eastern Energy - Thailand
- Banpu Public Company Limited - Thailand
- Vizag Seaport Private Limited - India
- Standard Chartered Bank - UAE
- Bangladesh Power Developement Board
- Larsen & Toubro Limited - India
- Economic Council, Georgia
- Wilmar Investment Holdings
- The Treasury - Australian Government
- Globalindo Alam Lestari - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Straits Asia Resources Limited - Singapore
- Toyota Tsusho Corporation, Japan
- SMC Global Power, Philippines
- Gujarat Sidhee Cement - India
- Wood Mackenzie - Singapore
- Rio Tinto Coal - Australia
- Romanian Commodities Exchange
- Vedanta Resources Plc - India
- Gujarat Mineral Development Corp Ltd - India
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- Petrochimia International Co. Ltd.- Taiwan
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- Offshore Bulk Terminal Pte Ltd, Singapore
- Neyveli Lignite Corporation Ltd, - India
- Ministry of Finance - Indonesia
- Deloitte Consulting - India
- Petron Corporation, Philippines
- Australian Coal Association
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- AsiaOL BioFuels Corp., Philippines
- VISA Power Limited - India
- GN Power Mariveles Coal Plant, Philippines
- New Zealand Coal & Carbon
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- TNB Fuel Sdn Bhd - Malaysia
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- Dong Bac Coal Mineral Investment Coporation - Vietnam
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- Orica Mining Services - Indonesia
- Kaltim Prima Coal - Indonesia
- Electricity Generating Authority of Thailand
- Thiess Contractors Indonesia
- Bhoruka Overseas - Indonesia
- Indian Oil Corporation Limited
- The State Trading Corporation of India Ltd
- Indonesian Coal Mining Association
- Barasentosa Lestari - Indonesia
- Global Green Power PLC Corporation, Philippines
- Latin American Coal - Colombia
- Edison Trading Spa - Italy
- Minerals Council of Australia
- IHS Mccloskey Coal Group - USA
- Directorate Of Revenue Intelligence - India
- PowerSource Philippines DevCo
- Bhushan Steel Limited - India
- Formosa Plastics Group - Taiwan
- Metalloyd Limited - United Kingdom
- SN Aboitiz Power Inc, Philippines
- Singapore Mercantile Exchange
- Bank of Tokyo Mitsubishi UFJ Ltd
- Vijayanagar Sugar Pvt Ltd - India
- Commonwealth Bank - Australia
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- Independent Power Producers Association of India
- Siam City Cement - Thailand
- Miang Besar Coal Terminal - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Central Electricity Authority - India
- Port Waratah Coal Services - Australia
- Power Finance Corporation Ltd., India
- Meenaskhi Energy Private Limited - India
- Medco Energi Mining Internasional
- Indogreen Group - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Jindal Steel & Power Ltd - India
- Cement Manufacturers Association - India
- Mjunction Services Limited - India
- Kumho Petrochemical, South Korea
- MS Steel International - UAE
- Altura Mining Limited, Indonesia
- Kepco SPC Power Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Bulk Trading Sa - Switzerland
- Simpson Spence & Young - Indonesia
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- Oldendorff Carriers - Singapore
- Chettinad Cement Corporation Ltd - India
- San Jose City I Power Corp, Philippines
- Energy Link Ltd, New Zealand
- International Coal Ventures Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- Intertek Mineral Services - Indonesia
- Orica Australia Pty. Ltd.
- Maharashtra Electricity Regulatory Commission - India
- Savvy Resources Ltd - HongKong
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- Bayan Resources Tbk. - Indonesia
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- Ind-Barath Power Infra Limited - India
- Samtan Co., Ltd - South Korea
- Makarim & Taira - Indonesia
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- Attock Cement Pakistan Limited
- London Commodity Brokers - England
- Price Waterhouse Coopers - Russia
- ASAPP Information Group - India
- Alfred C Toepfer International GmbH - Germany
- Mintek Dendrill Indonesia
- Leighton Contractors Pty Ltd - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kideco Jaya Agung - Indonesia
- SMG Consultants - Indonesia
- Salva Resources Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Riau Bara Harum - Indonesia
- Thai Mozambique Logistica
- Sinarmas Energy and Mining - Indonesia
- Binh Thuan Hamico - Vietnam
- European Bulk Services B.V. - Netherlands
- Anglo American - United Kingdom
- Ambuja Cements Ltd - India
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- Holcim Trading Pte Ltd - Singapore
- CNBM International Corporation - China
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- Ministry of Mines - Canada
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