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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, 06 June 12
INDONESIAN GOVERNMENT'S DECLARED COAL PRICES CONTINUING ITS DECLINE
COALspot.com - Indonesian HBA fell to lowest level since January 2011 in June 2012. The monthly coal reference price for coal sales this month ...
Monday, 04 June 12
MITRABAHTERA SUBSIDIARY SECURES CONTRACT FROM BERAU COAL - INSIDER STORIES
Insider Stories reported that, PT Mitra Alam Segara Sejati, a subsidiary that is 60% owned by PT Mitrabahtera Segara Sejati Tbk (MBSS), has secur ...
Sunday, 03 June 12
TTI ESTABLISHES COAL TRADING & MARKETING OFFICE
COALspot.com - TTI has officially established its coal trading, marketing-office in Jakarta, Indonesia. PT. Gunung Tinggi Coal is the TTI’s fi ...
Sunday, 03 June 12
FREIGHT MARKET CONTINUING ITS DECLINE
COALspot.com - The BDI continued to fall for the fifth straight week and the BDI fell by 2.57 pct this week closing at 904 points.
The Cape Size ...
Friday, 01 June 12
TNPL HAS SECURED 300K MT OF 6000 GAD COAL AT US$ 81 CNF TUTICORIN
COALspot.com - An India based coal trader Adani has offered the lowest price of US$ 81.00 per metric ton for calorific value of 6000 GAD and 15 perc ...
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- Star Paper Mills Limited - India
- Holcim Trading Pte Ltd - Singapore
- Marubeni Corporation - India
- Meralco Power Generation, Philippines
- VISA Power Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Therma Luzon, Inc, Philippines
- MS Steel International - UAE
- Uttam Galva Steels Limited - India
- Australian Commodity Traders Exchange
- Kartika Selabumi Mining - Indonesia
- White Energy Company Limited
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ambuja Cements Ltd - India
- Ind-Barath Power Infra Limited - India
- Medco Energi Mining Internasional
- Vijayanagar Sugar Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Ministry of Mines - Canada
- Singapore Mercantile Exchange
- Leighton Contractors Pty Ltd - Australia
- Sical Logistics Limited - India
- Eastern Energy - Thailand
- Merrill Lynch Commodities Europe
- Wood Mackenzie - Singapore
- GN Power Mariveles Coal Plant, Philippines
- Interocean Group of Companies - India
- Kalimantan Lumbung Energi - Indonesia
- Standard Chartered Bank - UAE
- Coastal Gujarat Power Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- GVK Power & Infra Limited - India
- AsiaOL BioFuels Corp., Philippines
- Indo Tambangraya Megah - Indonesia
- Baramulti Group, Indonesia
- Karbindo Abesyapradhi - Indoneisa
- CNBM International Corporation - China
- ASAPP Information Group - India
- LBH Netherlands Bv - Netherlands
- Metalloyd Limited - United Kingdom
- Central Java Power - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Siam City Cement - Thailand
- The Treasury - Australian Government
- Mintek Dendrill Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Bukit Baiduri Energy - Indonesia
- Chettinad Cement Corporation Ltd - India
- Electricity Generating Authority of Thailand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Vizag Seaport Private Limited - India
- Commonwealth Bank - Australia
- Bayan Resources Tbk. - Indonesia
- Price Waterhouse Coopers - Russia
- Cigading International Bulk Terminal - Indonesia
- Borneo Indobara - Indonesia
- Posco Energy - South Korea
- Malabar Cements Ltd - India
- SMG Consultants - Indonesia
- Iligan Light & Power Inc, Philippines
- Minerals Council of Australia
- Thai Mozambique Logistica
- Directorate Of Revenue Intelligence - India
- Videocon Industries ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Global Business Power Corporation, Philippines
- New Zealand Coal & Carbon
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kepco SPC Power Corporation, Philippines
- Africa Commodities Group - South Africa
- Riau Bara Harum - Indonesia
- PowerSource Philippines DevCo
- Larsen & Toubro Limited - India
- Rio Tinto Coal - Australia
- Carbofer General Trading SA - India
- Kapuas Tunggal Persada - Indonesia
- OPG Power Generation Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Aboitiz Power Corporation - Philippines
- Energy Development Corp, Philippines
- Orica Australia Pty. Ltd.
- Jaiprakash Power Ventures ltd
- Bharathi Cement Corporation - India
- Barasentosa Lestari - Indonesia
- Renaissance Capital - South Africa
- Sarangani Energy Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- Binh Thuan Hamico - Vietnam
- Kideco Jaya Agung - Indonesia
- Parliament of New Zealand
- Coal and Oil Company - UAE
- Ceylon Electricity Board - Sri Lanka
- Gujarat Sidhee Cement - India
- Essar Steel Hazira Ltd - India
- Semirara Mining Corp, Philippines
- Xindia Steels Limited - India
- PNOC Exploration Corporation - Philippines
- Independent Power Producers Association of India
- Lanco Infratech Ltd - India
- Dalmia Cement Bharat India
- Sindya Power Generating Company Private Ltd
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- The University of Queensland
- Maheswari Brothers Coal Limited - India
- European Bulk Services B.V. - Netherlands
- Electricity Authority, New Zealand
- Deloitte Consulting - India
- Sakthi Sugars Limited - India
- Vedanta Resources Plc - India
- Bhoruka Overseas - Indonesia
- Orica Mining Services - Indonesia
- Tamil Nadu electricity Board
- Economic Council, Georgia
- Meenaskhi Energy Private Limited - India
- Port Waratah Coal Services - Australia
- Straits Asia Resources Limited - Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- Wilmar Investment Holdings
- Coalindo Energy - Indonesia
- Australian Coal Association
- IEA Clean Coal Centre - UK
- Bahari Cakrawala Sebuku - Indonesia
- Petron Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- Attock Cement Pakistan Limited
- SN Aboitiz Power Inc, Philippines
- Tata Chemicals Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Aditya Birla Group - India
- CIMB Investment Bank - Malaysia
- Sojitz Corporation - Japan
- Mercuria Energy - Indonesia
- Pendopo Energi Batubara - Indonesia
- Bulk Trading Sa - Switzerland
- Banpu Public Company Limited - Thailand
- Latin American Coal - Colombia
- Bhushan Steel Limited - India
- Heidelberg Cement - Germany
- Kobexindo Tractors - Indoneisa
- Central Electricity Authority - India
- Karaikal Port Pvt Ltd - India
- GMR Energy Limited - India
- International Coal Ventures Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- Cement Manufacturers Association - India
- Salva Resources Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Antam Resourcindo - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Goldman Sachs - Singapore
- PetroVietnam Power Coal Import and Supply Company
- Ministry of Finance - Indonesia
- San Jose City I Power Corp, Philippines
- Intertek Mineral Services - Indonesia
- TeaM Sual Corporation - Philippines
- Samtan Co., Ltd - South Korea
- Thiess Contractors Indonesia
- PTC India Limited - India
- Romanian Commodities Exchange
- Maharashtra Electricity Regulatory Commission - India
- Toyota Tsusho Corporation, Japan
- Indian Oil Corporation Limited
- Trasteel International SA, Italy
- McConnell Dowell - Australia
- Timah Investasi Mineral - Indoneisa
- India Bulls Power Limited - India
- South Luzon Thermal Energy Corporation
- Madhucon Powers Ltd - India
- Oldendorff Carriers - Singapore
- Grasim Industreis Ltd - India
- Agrawal Coal Company - India
- Planning Commission, India
- GAC Shipping (India) Pvt Ltd
- Ministry of Transport, Egypt
- SMC Global Power, Philippines
- Miang Besar Coal Terminal - Indonesia
- Savvy Resources Ltd - HongKong
- Parry Sugars Refinery, India
- Krishnapatnam Port Company Ltd. - India
- Formosa Plastics Group - Taiwan
- IHS Mccloskey Coal Group - USA
- Altura Mining Limited, Indonesia
- Kumho Petrochemical, South Korea
- Global Coal Blending Company Limited - Australia
- Semirara Mining and Power Corporation, Philippines
- Indika Energy - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Alfred C Toepfer International GmbH - Germany
- Power Finance Corporation Ltd., India
- Bangladesh Power Developement Board
- Gujarat Electricity Regulatory Commission - India
- Indian Energy Exchange, India
- Indonesian Coal Mining Association
- Globalindo Alam Lestari - Indonesia
- Eastern Coal Council - USA
- Siam City Cement PLC, Thailand
- Edison Trading Spa - Italy
- Indogreen Group - Indonesia
- ICICI Bank Limited - India
- Simpson Spence & Young - Indonesia
- Energy Link Ltd, New Zealand
- Georgia Ports Authority, United States
- Makarim & Taira - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Bhatia International Limited - India
- Anglo American - United Kingdom
- Chamber of Mines of South Africa
- Manunggal Multi Energi - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Mjunction Services Limited - India
- London Commodity Brokers - England
- Rashtriya Ispat Nigam Limited - India
- Mercator Lines Limited - India
- The State Trading Corporation of India Ltd
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