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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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Monday, 28 May 12
COAL EXPORTS ARE JUMPING HIGHER, BUT PRICES ARE FALLING LOWER
COALspot.com: Indonesia, the world largest coal exporter, shipped 31.86* million tons of coal in April 2012, compared to 30.64* million tons i ...
Sunday, 27 May 12
THE FREIGHT MARKET FROM INDONESIA TO INDIA WAS WEAK - VISTAAR
COALspot.com - The BDI continued to fall for the fourth straight week and the BDI fell by 9.38 pct this week closing at 1,034 points.
The Cape Si ...
Sunday, 27 May 12
INDONESIAN SUB-BITUMINOUS COAL SWAPS HEADING TO SOUTH DIRECTION
COALspot.com - Indonesian sub-bituminous coal swaps and CFR South China coal contracts for July deliveries have dropped this week by 5.43 percent an ...
Saturday, 26 May 12
DRY BULK SHIP OWNERS LOOKING TO CUT BACK ON TONNAGE SUPPLY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The oversupply of dry bulk carriers has been the most prominent problem in the market today, pushing down rates and ‘strangling’ profita ...
Thursday, 24 May 12
DRY BULK MARKET RETREATS ON LACK OF CHINA DEMAND - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market retreated yesterday on the back of lower Chinese demand for commodities such as coal and iron ore, typically hauled by dry bulk ...
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- Ministry of Mines - Canada
- Mintek Dendrill Indonesia
- Marubeni Corporation - India
- The State Trading Corporation of India Ltd
- OPG Power Generation Pvt Ltd - India
- Baramulti Group, Indonesia
- Chamber of Mines of South Africa
- Eastern Energy - Thailand
- Gujarat Sidhee Cement - India
- Petrochimia International Co. Ltd.- Taiwan
- PNOC Exploration Corporation - Philippines
- Coalindo Energy - Indonesia
- LBH Netherlands Bv - Netherlands
- Bhatia International Limited - India
- GVK Power & Infra Limited - India
- Ministry of Transport, Egypt
- Tamil Nadu electricity Board
- Bahari Cakrawala Sebuku - Indonesia
- Anglo American - United Kingdom
- Antam Resourcindo - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Semirara Mining and Power Corporation, Philippines
- Renaissance Capital - South Africa
- Essar Steel Hazira Ltd - India
- Barasentosa Lestari - Indonesia
- Intertek Mineral Services - Indonesia
- Bhushan Steel Limited - India
- Posco Energy - South Korea
- Commonwealth Bank - Australia
- Siam City Cement PLC, Thailand
- Bukit Makmur.PT - Indonesia
- Bangladesh Power Developement Board
- Binh Thuan Hamico - Vietnam
- Directorate General of MIneral and Coal - Indonesia
- Therma Luzon, Inc, Philippines
- Siam City Cement - Thailand
- Planning Commission, India
- Wilmar Investment Holdings
- Port Waratah Coal Services - Australia
- Timah Investasi Mineral - Indoneisa
- Power Finance Corporation Ltd., India
- Meralco Power Generation, Philippines
- Lanco Infratech Ltd - India
- San Jose City I Power Corp, Philippines
- Edison Trading Spa - Italy
- SMG Consultants - Indonesia
- McConnell Dowell - Australia
- Aditya Birla Group - India
- TNB Fuel Sdn Bhd - Malaysia
- Interocean Group of Companies - India
- Parry Sugars Refinery, India
- Indika Energy - Indonesia
- Thiess Contractors Indonesia
- Sinarmas Energy and Mining - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- Cement Manufacturers Association - India
- Miang Besar Coal Terminal - Indonesia
- PowerSource Philippines DevCo
- Bulk Trading Sa - Switzerland
- MS Steel International - UAE
- Australian Commodity Traders Exchange
- Bhoruka Overseas - Indonesia
- TeaM Sual Corporation - Philippines
- Parliament of New Zealand
- IEA Clean Coal Centre - UK
- Holcim Trading Pte Ltd - Singapore
- Maheswari Brothers Coal Limited - India
- SMC Global Power, Philippines
- India Bulls Power Limited - India
- Coastal Gujarat Power Limited - India
- Merrill Lynch Commodities Europe
- PTC India Limited - India
- Manunggal Multi Energi - Indonesia
- London Commodity Brokers - England
- Electricity Generating Authority of Thailand
- Heidelberg Cement - Germany
- Directorate Of Revenue Intelligence - India
- Makarim & Taira - Indonesia
- Vizag Seaport Private Limited - India
- Indogreen Group - Indonesia
- Sarangani Energy Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Chettinad Cement Corporation Ltd - India
- Salva Resources Pvt Ltd - India
- Romanian Commodities Exchange
- Karbindo Abesyapradhi - Indoneisa
- Globalindo Alam Lestari - Indonesia
- Kideco Jaya Agung - Indonesia
- Altura Mining Limited, Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- White Energy Company Limited
- Rio Tinto Coal - Australia
- Electricity Authority, New Zealand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ind-Barath Power Infra Limited - India
- Orica Mining Services - Indonesia
- Attock Cement Pakistan Limited
- ICICI Bank Limited - India
- Tata Chemicals Ltd - India
- Thai Mozambique Logistica
- Billiton Holdings Pty Ltd - Australia
- Medco Energi Mining Internasional
- Independent Power Producers Association of India
- Kumho Petrochemical, South Korea
- Latin American Coal - Colombia
- Ambuja Cements Ltd - India
- Africa Commodities Group - South Africa
- Australian Coal Association
- Leighton Contractors Pty Ltd - Australia
- Sojitz Corporation - Japan
- Wood Mackenzie - Singapore
- Videocon Industries ltd - India
- The Treasury - Australian Government
- Grasim Industreis Ltd - India
- Energy Link Ltd, New Zealand
- Carbofer General Trading SA - India
- Coal and Oil Company - UAE
- Global Coal Blending Company Limited - Australia
- Kaltim Prima Coal - Indonesia
- GAC Shipping (India) Pvt Ltd
- Indo Tambangraya Megah - Indonesia
- Petron Corporation, Philippines
- Sakthi Sugars Limited - India
- Bayan Resources Tbk. - Indonesia
- VISA Power Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Uttam Galva Steels Limited - India
- Sree Jayajothi Cements Limited - India
- SN Aboitiz Power Inc, Philippines
- Aboitiz Power Corporation - Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Xindia Steels Limited - India
- CIMB Investment Bank - Malaysia
- Indian Energy Exchange, India
- Global Green Power PLC Corporation, Philippines
- Indonesian Coal Mining Association
- Offshore Bulk Terminal Pte Ltd, Singapore
- Krishnapatnam Port Company Ltd. - India
- Formosa Plastics Group - Taiwan
- CNBM International Corporation - China
- Central Java Power - Indonesia
- Eastern Coal Council - USA
- Ministry of Finance - Indonesia
- Energy Development Corp, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Vedanta Resources Plc - India
- Neyveli Lignite Corporation Ltd, - India
- Kapuas Tunggal Persada - Indonesia
- Karaikal Port Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- Sical Logistics Limited - India
- Banpu Public Company Limited - Thailand
- Kalimantan Lumbung Energi - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Toyota Tsusho Corporation, Japan
- ASAPP Information Group - India
- Bharathi Cement Corporation - India
- Central Electricity Authority - India
- Gujarat Mineral Development Corp Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Singapore Mercantile Exchange
- Malabar Cements Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Pipit Mutiara Jaya. PT, Indonesia
- Borneo Indobara - Indonesia
- Metalloyd Limited - United Kingdom
- European Bulk Services B.V. - Netherlands
- Maharashtra Electricity Regulatory Commission - India
- International Coal Ventures Pvt Ltd - India
- Mercuria Energy - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Minerals Council of Australia
- Oldendorff Carriers - Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sindya Power Generating Company Private Ltd
- Kartika Selabumi Mining - Indonesia
- Price Waterhouse Coopers - Russia
- New Zealand Coal & Carbon
- Semirara Mining Corp, Philippines
- Agrawal Coal Company - India
- Kobexindo Tractors - Indoneisa
- Deloitte Consulting - India
- Samtan Co., Ltd - South Korea
- Economic Council, Georgia
- Kepco SPC Power Corporation, Philippines
- Mercator Lines Limited - India
- The University of Queensland
- Orica Australia Pty. Ltd.
- Mjunction Services Limited - India
- Pendopo Energi Batubara - Indonesia
- GMR Energy Limited - India
- South Luzon Thermal Energy Corporation
- Simpson Spence & Young - Indonesia
- Madhucon Powers Ltd - India
- Savvy Resources Ltd - HongKong
- Standard Chartered Bank - UAE
- IHS Mccloskey Coal Group - USA
- Straits Asia Resources Limited - Singapore
- Star Paper Mills Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Georgia Ports Authority, United States
- Meenaskhi Energy Private Limited - India
- Larsen & Toubro Limited - India
- Rashtriya Ispat Nigam Limited - India
- Riau Bara Harum - Indonesia
- Indian Oil Corporation Limited
- Dalmia Cement Bharat India
- Iligan Light & Power Inc, Philippines
- AsiaOL BioFuels Corp., Philippines
- Global Business Power Corporation, Philippines
- Goldman Sachs - Singapore
- Ceylon Electricity Board - Sri Lanka
- Jindal Steel & Power Ltd - India
- Trasteel International SA, Italy
- Bukit Asam (Persero) Tbk - Indonesia
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