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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, 22 May 12
NEW ONE-YEAR TIME CHARTERS FOR TWO VESSELS OF EXCEL MARITIME CARRIERS LTD.
Excel Maritime Carriers Ltd. (NYSE: EXM), an owner and operator of dry bulk carriers and an international provider of worldwide seaborne transportat ...
Tuesday, 22 May 12
DRY BULK MARKET STEADY, AWAITING FURTHER RISE IN DEMAND WHICH IS DOUBTFUL - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Traditionally, the second and third quarters of the year are the strongest for the dry bulk market, but this year, things seem to be quite subdued, ...
Sunday, 20 May 12
SPOT FREIGHT RATE DIPS FURTHER - VISTAAR
COALspot.com - The BDI was marginally up by 3 points (0.26 pct) closing at 1,141 points.
The cape index was up by 1.17 pct closing at 1,633 point ...
Saturday, 19 May 12
INDONESIAN SUB-BITUMINOUS COAL SWAPS DROP US$ 2.88 PMT W-O-W
COALspot.com - Indonesian sub-bituminous coal swaps and CFR South China coal contracts for June deliveries have drops this week by 3.86 percent and& ...
Saturday, 19 May 12
INDONESIAN EXPORT TAX GIVES COAL MINERS A CHEAP RIDE: ANALYSTS - THE JAKARTA GLOBE
The Jakarta Globe reported that, Indonesia’s policy to exclude coal from an export tax that has been applied to 14 other mineral commodities h ...
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Showing 4721 to 4725 news of total 6871 |
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- Formosa Plastics Group - Taiwan
- Indo Tambangraya Megah - Indonesia
- Essar Steel Hazira Ltd - India
- Sarangani Energy Corporation, Philippines
- Latin American Coal - Colombia
- Bhoruka Overseas - Indonesia
- Siam City Cement PLC, Thailand
- The University of Queensland
- CNBM International Corporation - China
- Sakthi Sugars Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Maharashtra Electricity Regulatory Commission - India
- Trasteel International SA, Italy
- Aboitiz Power Corporation - Philippines
- India Bulls Power Limited - India
- Krishnapatnam Port Company Ltd. - India
- Larsen & Toubro Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- LBH Netherlands Bv - Netherlands
- Cigading International Bulk Terminal - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Bahari Cakrawala Sebuku - Indonesia
- Ministry of Finance - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Global Coal Blending Company Limited - Australia
- Sinarmas Energy and Mining - Indonesia
- PTC India Limited - India
- Parry Sugars Refinery, India
- Coastal Gujarat Power Limited - India
- Madhucon Powers Ltd - India
- Simpson Spence & Young - Indonesia
- Vedanta Resources Plc - India
- Binh Thuan Hamico - Vietnam
- Baramulti Group, Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Thiess Contractors Indonesia
- CIMB Investment Bank - Malaysia
- Attock Cement Pakistan Limited
- Globalindo Alam Lestari - Indonesia
- GMR Energy Limited - India
- Energy Development Corp, Philippines
- Grasim Industreis Ltd - India
- Tata Chemicals Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Indian Oil Corporation Limited
- PowerSource Philippines DevCo
- Bayan Resources Tbk. - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Gujarat Sidhee Cement - India
- Star Paper Mills Limited - India
- Deloitte Consulting - India
- Borneo Indobara - Indonesia
- Kumho Petrochemical, South Korea
- Miang Besar Coal Terminal - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Toyota Tsusho Corporation, Japan
- Xindia Steels Limited - India
- Central Electricity Authority - India
- Goldman Sachs - Singapore
- Mercator Lines Limited - India
- Iligan Light & Power Inc, Philippines
- Intertek Mineral Services - Indonesia
- Indonesian Coal Mining Association
- Ambuja Cements Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- AsiaOL BioFuels Corp., Philippines
- Agrawal Coal Company - India
- Kobexindo Tractors - Indoneisa
- Planning Commission, India
- Oldendorff Carriers - Singapore
- Merrill Lynch Commodities Europe
- SMC Global Power, Philippines
- Romanian Commodities Exchange
- Eastern Energy - Thailand
- Wilmar Investment Holdings
- Directorate Of Revenue Intelligence - India
- Bukit Asam (Persero) Tbk - Indonesia
- Posco Energy - South Korea
- Ind-Barath Power Infra Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Therma Luzon, Inc, Philippines
- Wood Mackenzie - Singapore
- Bharathi Cement Corporation - India
- Thai Mozambique Logistica
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Pendopo Energi Batubara - Indonesia
- Sree Jayajothi Cements Limited - India
- South Luzon Thermal Energy Corporation
- McConnell Dowell - Australia
- Barasentosa Lestari - Indonesia
- Mercuria Energy - Indonesia
- Bhatia International Limited - India
- Timah Investasi Mineral - Indoneisa
- Kalimantan Lumbung Energi - Indonesia
- Chamber of Mines of South Africa
- Anglo American - United Kingdom
- Asmin Koalindo Tuhup - Indonesia
- Semirara Mining Corp, Philippines
- Australian Coal Association
- Salva Resources Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- Meralco Power Generation, Philippines
- Bukit Makmur.PT - Indonesia
- Marubeni Corporation - India
- VISA Power Limited - India
- Indogreen Group - Indonesia
- Electricity Authority, New Zealand
- Rio Tinto Coal - Australia
- GAC Shipping (India) Pvt Ltd
- Electricity Generating Authority of Thailand
- Global Business Power Corporation, Philippines
- Vizag Seaport Private Limited - India
- Sindya Power Generating Company Private Ltd
- Australian Commodity Traders Exchange
- Siam City Cement - Thailand
- Bangladesh Power Developement Board
- SN Aboitiz Power Inc, Philippines
- Semirara Mining and Power Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Karaikal Port Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Parliament of New Zealand
- Eastern Coal Council - USA
- Bukit Baiduri Energy - Indonesia
- Uttam Galva Steels Limited - India
- TeaM Sual Corporation - Philippines
- GVK Power & Infra Limited - India
- Cement Manufacturers Association - India
- Heidelberg Cement - Germany
- The Treasury - Australian Government
- Straits Asia Resources Limited - Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Samtan Co., Ltd - South Korea
- Savvy Resources Ltd - HongKong
- Malabar Cements Ltd - India
- Kaltim Prima Coal - Indonesia
- Sojitz Corporation - Japan
- Economic Council, Georgia
- Georgia Ports Authority, United States
- Vijayanagar Sugar Pvt Ltd - India
- Interocean Group of Companies - India
- Indian Energy Exchange, India
- Power Finance Corporation Ltd., India
- Petron Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Africa Commodities Group - South Africa
- Kartika Selabumi Mining - Indonesia
- Coal and Oil Company - UAE
- Coalindo Energy - Indonesia
- International Coal Ventures Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- New Zealand Coal & Carbon
- Central Java Power - Indonesia
- Aditya Birla Group - India
- Gujarat Electricity Regulatory Commission - India
- MS Steel International - UAE
- Kepco SPC Power Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- Metalloyd Limited - United Kingdom
- Jorong Barutama Greston.PT - Indonesia
- Kideco Jaya Agung - Indonesia
- London Commodity Brokers - England
- Alfred C Toepfer International GmbH - Germany
- Chettinad Cement Corporation Ltd - India
- ASAPP Information Group - India
- The State Trading Corporation of India Ltd
- Antam Resourcindo - Indonesia
- Lanco Infratech Ltd - India
- Price Waterhouse Coopers - Russia
- Minerals Council of Australia
- Mintek Dendrill Indonesia
- Edison Trading Spa - Italy
- Ministry of Mines - Canada
- SMG Consultants - Indonesia
- Standard Chartered Bank - UAE
- IHS Mccloskey Coal Group - USA
- Jindal Steel & Power Ltd - India
- Dalmia Cement Bharat India
- Riau Bara Harum - Indonesia
- Tamil Nadu electricity Board
- European Bulk Services B.V. - Netherlands
- GN Power Mariveles Coal Plant, Philippines
- Orica Mining Services - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Bhushan Steel Limited - India
- Energy Link Ltd, New Zealand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Singapore Mercantile Exchange
- Renaissance Capital - South Africa
- Orica Australia Pty. Ltd.
- Port Waratah Coal Services - Australia
- Indika Energy - Indonesia
- Bulk Trading Sa - Switzerland
- Sical Logistics Limited - India
- Carbofer General Trading SA - India
- Banpu Public Company Limited - Thailand
- Independent Power Producers Association of India
- Medco Energi Mining Internasional
- White Energy Company Limited
- Makarim & Taira - Indonesia
- San Jose City I Power Corp, Philippines
- PNOC Exploration Corporation - Philippines
- OPG Power Generation Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Altura Mining Limited, Indonesia
- Meenaskhi Energy Private Limited - India
- Videocon Industries ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Pipit Mutiara Jaya. PT, Indonesia
- Mjunction Services Limited - India
- ICICI Bank Limited - India
- Ministry of Transport, Egypt
- Jaiprakash Power Ventures ltd
- Commonwealth Bank - Australia
- IEA Clean Coal Centre - UK
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