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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, 01 June 12
COKAL ACCEPTED ON THE CLEAN AND CLEAR LIST FOR ITS BORNEO BARA PRIMA AND BUMI BARITO MINERAL PROJECTS
- Borneo Bara Prima (BBP) Project confirmed on the Clean and Clear List 9th May 2012
- Bumi Barito Mineral (BBM) Project confirmed on the Clean and ...
Friday, 01 June 12
ADARO BUYS MAJORITY STAKE IN AFFILIATED BHAKTI ENERGI - INSIDER STORIES
Insider Stories reported that, PT Adaro Energy Tbk entered into an option to provide a convertible loan of up to US$500 million for a period of 3 ye ...
Thursday, 31 May 12
DRY BULK MARKET UNABLE TO FIND NEW SUPPORT TO REACH HIGHER LEVELS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has been unable to find new support and recover to higher levels during these past few days. As a result, the Baltic Dry Index ( ...
Wednesday, 30 May 12
ORPHEUS RAISES $2.24M TO ADVANCE INDONESIAN COAL PRODUCTION ASSETS
• $2.24 million raised from a placement to new and existing institutional and sophisticated investors from Australia and overseas
• Funds ...
Wednesday, 30 May 12
ARPENI SECURES TRANSSHIPMENT CONTRACT FROM BARUNA DIRGA
Insider Stories reported that, shipping operator PT Arpeni Pratama Ocean Line Tbk (APOL) has secured a 1-year coal transhipment contract of 4 millio ...
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Showing 4711 to 4715 news of total 6871 |
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- Savvy Resources Ltd - HongKong
- PTC India Limited - India
- San Jose City I Power Corp, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Rashtriya Ispat Nigam Limited - India
- SN Aboitiz Power Inc, Philippines
- Kapuas Tunggal Persada - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Georgia Ports Authority, United States
- Merrill Lynch Commodities Europe
- Global Business Power Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Thai Mozambique Logistica
- Cement Manufacturers Association - India
- Power Finance Corporation Ltd., India
- Energy Link Ltd, New Zealand
- Tata Chemicals Ltd - India
- Bukit Baiduri Energy - Indonesia
- Thiess Contractors Indonesia
- Aditya Birla Group - India
- GVK Power & Infra Limited - India
- Attock Cement Pakistan Limited
- Minerals Council of Australia
- Toyota Tsusho Corporation, Japan
- Bukit Makmur.PT - Indonesia
- Bhatia International Limited - India
- Uttam Galva Steels Limited - India
- White Energy Company Limited
- Rio Tinto Coal - Australia
- Meenaskhi Energy Private Limited - India
- ASAPP Information Group - India
- Aboitiz Power Corporation - Philippines
- Manunggal Multi Energi - Indonesia
- Jaiprakash Power Ventures ltd
- European Bulk Services B.V. - Netherlands
- PNOC Exploration Corporation - Philippines
- Simpson Spence & Young - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Central Electricity Authority - India
- LBH Netherlands Bv - Netherlands
- Energy Development Corp, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Wilmar Investment Holdings
- Essar Steel Hazira Ltd - India
- McConnell Dowell - Australia
- Sojitz Corporation - Japan
- Kaltim Prima Coal - Indonesia
- PowerSource Philippines DevCo
- Ind-Barath Power Infra Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Timah Investasi Mineral - Indoneisa
- Banpu Public Company Limited - Thailand
- Siam City Cement - Thailand
- The Treasury - Australian Government
- Ceylon Electricity Board - Sri Lanka
- Altura Mining Limited, Indonesia
- Independent Power Producers Association of India
- Baramulti Group, Indonesia
- TeaM Sual Corporation - Philippines
- Miang Besar Coal Terminal - Indonesia
- Dalmia Cement Bharat India
- Ambuja Cements Ltd - India
- Makarim & Taira - Indonesia
- Antam Resourcindo - Indonesia
- Salva Resources Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- Gujarat Sidhee Cement - India
- Bhushan Steel Limited - India
- Indian Energy Exchange, India
- Sinarmas Energy and Mining - Indonesia
- Romanian Commodities Exchange
- Maharashtra Electricity Regulatory Commission - India
- Madhucon Powers Ltd - India
- New Zealand Coal & Carbon
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Coal and Oil Company - UAE
- GMR Energy Limited - India
- South Luzon Thermal Energy Corporation
- Neyveli Lignite Corporation Ltd, - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Wood Mackenzie - Singapore
- Electricity Generating Authority of Thailand
- Xindia Steels Limited - India
- Sarangani Energy Corporation, Philippines
- MS Steel International - UAE
- The State Trading Corporation of India Ltd
- Kalimantan Lumbung Energi - Indonesia
- Sical Logistics Limited - India
- Straits Asia Resources Limited - Singapore
- Globalindo Alam Lestari - Indonesia
- Karaikal Port Pvt Ltd - India
- Planning Commission, India
- Ministry of Mines - Canada
- Agrawal Coal Company - India
- Bulk Trading Sa - Switzerland
- Petrochimia International Co. Ltd.- Taiwan
- Trasteel International SA, Italy
- International Coal Ventures Pvt Ltd - India
- Latin American Coal - Colombia
- Riau Bara Harum - Indonesia
- Indian Oil Corporation Limited
- Indika Energy - Indonesia
- Deloitte Consulting - India
- Vedanta Resources Plc - India
- Global Coal Blending Company Limited - Australia
- Iligan Light & Power Inc, Philippines
- Parry Sugars Refinery, India
- IHS Mccloskey Coal Group - USA
- Electricity Authority, New Zealand
- Sakthi Sugars Limited - India
- Port Waratah Coal Services - Australia
- Leighton Contractors Pty Ltd - Australia
- Interocean Group of Companies - India
- Ministry of Finance - Indonesia
- Indonesian Coal Mining Association
- Mjunction Services Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- CNBM International Corporation - China
- Anglo American - United Kingdom
- Kumho Petrochemical, South Korea
- Intertek Mineral Services - Indonesia
- Bhoruka Overseas - Indonesia
- Borneo Indobara - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Formosa Plastics Group - Taiwan
- Sindya Power Generating Company Private Ltd
- Maheswari Brothers Coal Limited - India
- Eastern Energy - Thailand
- Oldendorff Carriers - Singapore
- Vijayanagar Sugar Pvt Ltd - India
- Orica Mining Services - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Jindal Steel & Power Ltd - India
- Coalindo Energy - Indonesia
- Siam City Cement PLC, Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- Pendopo Energi Batubara - Indonesia
- Orica Australia Pty. Ltd.
- SMC Global Power, Philippines
- Directorate Of Revenue Intelligence - India
- Tamil Nadu electricity Board
- Gujarat Mineral Development Corp Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Kartika Selabumi Mining - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Bangladesh Power Developement Board
- OPG Power Generation Pvt Ltd - India
- Lanco Infratech Ltd - India
- Commonwealth Bank - Australia
- ICICI Bank Limited - India
- Cigading International Bulk Terminal - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Kepco SPC Power Corporation, Philippines
- Renaissance Capital - South Africa
- Barasentosa Lestari - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bharathi Cement Corporation - India
- Meralco Power Generation, Philippines
- Goldman Sachs - Singapore
- Samtan Co., Ltd - South Korea
- Therma Luzon, Inc, Philippines
- Posco Energy - South Korea
- Mintek Dendrill Indonesia
- Marubeni Corporation - India
- Alfred C Toepfer International GmbH - Germany
- Economic Council, Georgia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- SMG Consultants - Indonesia
- Vizag Seaport Private Limited - India
- AsiaOL BioFuels Corp., Philippines
- Chamber of Mines of South Africa
- The University of Queensland
- Petron Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- Bayan Resources Tbk. - Indonesia
- Edison Trading Spa - Italy
- Australian Coal Association
- Malabar Cements Ltd - India
- Heidelberg Cement - Germany
- GAC Shipping (India) Pvt Ltd
- Star Paper Mills Limited - India
- Chettinad Cement Corporation Ltd - India
- Semirara Mining Corp, Philippines
- Larsen & Toubro Limited - India
- India Bulls Power Limited - India
- Videocon Industries ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Sree Jayajothi Cements Limited - India
- IEA Clean Coal Centre - UK
- Binh Thuan Hamico - Vietnam
- VISA Power Limited - India
- London Commodity Brokers - England
- Semirara Mining and Power Corporation, Philippines
- Central Java Power - Indonesia
- Metalloyd Limited - United Kingdom
- Carbofer General Trading SA - India
- CIMB Investment Bank - Malaysia
- Price Waterhouse Coopers - Russia
- Medco Energi Mining Internasional
- Australian Commodity Traders Exchange
- Singapore Mercantile Exchange
- Standard Chartered Bank - UAE
- Kideco Jaya Agung - Indonesia
- Africa Commodities Group - South Africa
- Mercator Lines Limited - India
- Coastal Gujarat Power Limited - India
- Indogreen Group - Indonesia
- Parliament of New Zealand
- PetroVietnam Power Coal Import and Supply Company
- Grasim Industreis Ltd - India
- Ministry of Transport, Egypt
- Mercuria Energy - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Global Green Power PLC Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Eastern Coal Council - USA
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