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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, 08 June 12
MINISTER DENIES COAL EXPORT TAX PLAN, ENDORSES RESTRICTIONS - THE JAKARTA POST
The Jakarta post, one of the leading english news paper in Indonesia reported that, Energy and Mineral Resources Minister Jero Wacik has denied that ...
Friday, 08 June 12
NO IMMEDIATE IMPACT ON ADARO'S RATING FROM BEP TRANSACTION - FITCH RATINGS
Fitch Ratings has said that PT Adaro Indonesia's (Adaro, 'BB+'/ Stable) ratings are not immediately affected by its parent PT Adaro Energy Tbk's ...
Thursday, 07 June 12
DRY BULK MARKET FALLS FOR 10 STRAIGHT SESSION ON OVERSUPPLY PROBLEMS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
A resurgence of oversupply, coupled with national holidays in various parts of the world has contributed to yet another fall of the dry bulk market ...
Thursday, 07 June 12
COAL EXPORT TAX NOT RATIONAL: MINISTER - THE JAKARTA POST
Trade Minister Gita Wirjawan has criticized as irrational the idea to restrict coal exports by imposing an export tax, According to The Jakarta post ...
Thursday, 07 June 12
BY 2022 PLN IS EXPECTED TO BURN AROUND 125 MILLION TONS OF COAL
COALspot.com - Indonesia's state owned electricity company's (PLN) coal consumption is expected to reach 125.7 million tons by 2012.
Nur Pamudj ...
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- Trasteel International SA, Italy
- Cigading International Bulk Terminal - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Banpu Public Company Limited - Thailand
- PTC India Limited - India
- Aboitiz Power Corporation - Philippines
- Xindia Steels Limited - India
- Merrill Lynch Commodities Europe
- Pipit Mutiara Jaya. PT, Indonesia
- Chettinad Cement Corporation Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Wood Mackenzie - Singapore
- Chamber of Mines of South Africa
- Coal and Oil Company - UAE
- Power Finance Corporation Ltd., India
- Kapuas Tunggal Persada - Indonesia
- Heidelberg Cement - Germany
- Energy Development Corp, Philippines
- Indogreen Group - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Central Electricity Authority - India
- Parry Sugars Refinery, India
- Thiess Contractors Indonesia
- Bangladesh Power Developement Board
- Posco Energy - South Korea
- Intertek Mineral Services - Indonesia
- Binh Thuan Hamico - Vietnam
- Toyota Tsusho Corporation, Japan
- Kideco Jaya Agung - Indonesia
- Gujarat Sidhee Cement - India
- Jaiprakash Power Ventures ltd
- Economic Council, Georgia
- Salva Resources Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- The Treasury - Australian Government
- Singapore Mercantile Exchange
- New Zealand Coal & Carbon
- Bharathi Cement Corporation - India
- Deloitte Consulting - India
- GAC Shipping (India) Pvt Ltd
- Tata Chemicals Ltd - India
- PNOC Exploration Corporation - Philippines
- Bulk Trading Sa - Switzerland
- Mercator Lines Limited - India
- Ceylon Electricity Board - Sri Lanka
- Bukit Baiduri Energy - Indonesia
- Larsen & Toubro Limited - India
- Vizag Seaport Private Limited - India
- Carbofer General Trading SA - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Oldendorff Carriers - Singapore
- Orica Australia Pty. Ltd.
- Ministry of Transport, Egypt
- Indonesian Coal Mining Association
- Makarim & Taira - Indonesia
- Africa Commodities Group - South Africa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Parliament of New Zealand
- Thai Mozambique Logistica
- VISA Power Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Antam Resourcindo - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Australian Coal Association
- GVK Power & Infra Limited - India
- The University of Queensland
- Samtan Co., Ltd - South Korea
- MS Steel International - UAE
- Indo Tambangraya Megah - Indonesia
- CNBM International Corporation - China
- Holcim Trading Pte Ltd - Singapore
- Kohat Cement Company Ltd. - Pakistan
- Bhoruka Overseas - Indonesia
- The State Trading Corporation of India Ltd
- Meralco Power Generation, Philippines
- Marubeni Corporation - India
- Maharashtra Electricity Regulatory Commission - India
- Sinarmas Energy and Mining - Indonesia
- Standard Chartered Bank - UAE
- Coastal Gujarat Power Limited - India
- Alfred C Toepfer International GmbH - Germany
- Leighton Contractors Pty Ltd - Australia
- Global Coal Blending Company Limited - Australia
- Jorong Barutama Greston.PT - Indonesia
- Kartika Selabumi Mining - Indonesia
- Kumho Petrochemical, South Korea
- Kepco SPC Power Corporation, Philippines
- Commonwealth Bank - Australia
- Ministry of Finance - Indonesia
- Eastern Coal Council - USA
- Siam City Cement - Thailand
- OPG Power Generation Pvt Ltd - India
- SMC Global Power, Philippines
- Riau Bara Harum - Indonesia
- LBH Netherlands Bv - Netherlands
- Eastern Energy - Thailand
- Timah Investasi Mineral - Indoneisa
- Sojitz Corporation - Japan
- Maheswari Brothers Coal Limited - India
- Port Waratah Coal Services - Australia
- European Bulk Services B.V. - Netherlands
- Siam City Cement PLC, Thailand
- PetroVietnam Power Coal Import and Supply Company
- SN Aboitiz Power Inc, Philippines
- Kaltim Prima Coal - Indonesia
- Energy Link Ltd, New Zealand
- Romanian Commodities Exchange
- Simpson Spence & Young - Indonesia
- Mjunction Services Limited - India
- Madhucon Powers Ltd - India
- Billiton Holdings Pty Ltd - Australia
- IHS Mccloskey Coal Group - USA
- Cement Manufacturers Association - India
- Directorate Of Revenue Intelligence - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Rashtriya Ispat Nigam Limited - India
- Tamil Nadu electricity Board
- Independent Power Producers Association of India
- Miang Besar Coal Terminal - Indonesia
- Indian Oil Corporation Limited
- Lanco Infratech Ltd - India
- Agrawal Coal Company - India
- Semirara Mining and Power Corporation, Philippines
- Semirara Mining Corp, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Global Business Power Corporation, Philippines
- SMG Consultants - Indonesia
- Electricity Generating Authority of Thailand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Rio Tinto Coal - Australia
- Minerals Council of Australia
- Bayan Resources Tbk. - Indonesia
- Interocean Group of Companies - India
- Star Paper Mills Limited - India
- Indian Energy Exchange, India
- Baramulti Group, Indonesia
- Ind-Barath Power Infra Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Medco Energi Mining Internasional
- Formosa Plastics Group - Taiwan
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Savvy Resources Ltd - HongKong
- Jindal Steel & Power Ltd - India
- Therma Luzon, Inc, Philippines
- Georgia Ports Authority, United States
- Bahari Cakrawala Sebuku - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- GMR Energy Limited - India
- Price Waterhouse Coopers - Russia
- India Bulls Power Limited - India
- McConnell Dowell - Australia
- London Commodity Brokers - England
- Uttam Galva Steels Limited - India
- Attock Cement Pakistan Limited
- Videocon Industries ltd - India
- ICICI Bank Limited - India
- San Jose City I Power Corp, Philippines
- Global Green Power PLC Corporation, Philippines
- Essar Steel Hazira Ltd - India
- Iligan Light & Power Inc, Philippines
- South Luzon Thermal Energy Corporation
- GN Power Mariveles Coal Plant, Philippines
- Ministry of Mines - Canada
- Altura Mining Limited, Indonesia
- Petron Corporation, Philippines
- Mintek Dendrill Indonesia
- Australian Commodity Traders Exchange
- Vedanta Resources Plc - India
- Latin American Coal - Colombia
- Indika Energy - Indonesia
- Borneo Indobara - Indonesia
- Sindya Power Generating Company Private Ltd
- Orica Mining Services - Indonesia
- Renaissance Capital - South Africa
- Goldman Sachs - Singapore
- Gujarat Electricity Regulatory Commission - India
- TNB Fuel Sdn Bhd - Malaysia
- Metalloyd Limited - United Kingdom
- Bhushan Steel Limited - India
- Central Java Power - Indonesia
- Dalmia Cement Bharat India
- Meenaskhi Energy Private Limited - India
- PowerSource Philippines DevCo
- CIMB Investment Bank - Malaysia
- Coalindo Energy - Indonesia
- Planning Commission, India
- Edison Trading Spa - Italy
- White Energy Company Limited
- Pendopo Energi Batubara - Indonesia
- Grasim Industreis Ltd - India
- TeaM Sual Corporation - Philippines
- Bukit Makmur.PT - Indonesia
- Electricity Authority, New Zealand
- Sakthi Sugars Limited - India
- Wilmar Investment Holdings
- Kobexindo Tractors - Indoneisa
- Straits Asia Resources Limited - Singapore
- Aditya Birla Group - India
- Manunggal Multi Energi - Indonesia
- IEA Clean Coal Centre - UK
- Ambuja Cements Ltd - India
- Mercuria Energy - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- International Coal Ventures Pvt Ltd - India
- Sical Logistics Limited - India
- Malabar Cements Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- ASAPP Information Group - India
- Krishnapatnam Port Company Ltd. - India
- Bhatia International Limited - India
- Karaikal Port Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- Anglo American - United Kingdom
- Sarangani Energy Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Globalindo Alam Lestari - Indonesia
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