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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, 08 May 12
DRY BULK MARKET LOOKING FOR NEW DIRECTION THIS WEEK - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
With the BDI (Baltic Dry Index) the main benchmark of the dry bulk shipping industry not traded at the start of this week, traders, charterers and s ...
Monday, 07 May 12
INDONESIAN HBA FALL AGAIN IN MAY 2012
COALspot.com - Indonesian HBA fall again to lowest level since January 2011 in May 2012. The monthly coal reference price for coal sales in Ma ...
Sunday, 06 May 12
INDONESIAN SUB-BITUMINOUS COAL & CFR SOUTH CHINA SWAPS SLIGHTLY DROP THIS WEEK
COALspot.com - Indonesian sub-bituminous coal swaps and CFR South China coal contracts for June deliveries slightly dropped this week.
According ...
Sunday, 06 May 12
S7 & S8 ROUTES LIKELY TO BE FIRM NEXT WEEK VISTAAR SINGAPORE
COALspot.com - The BDI remained flat this week and was up just by 1 point closing at 1,157 points.
The cape size index was up by 5.14 pct closing ...
Sunday, 06 May 12
EXPORT DUTY ON MINERAL FINALLY TO BECOME EFFECTIVE NEXT WEEK
COALspot.com - Mineral ore exporters of Indonesia ( only IUP holders) are required to obtain recommendation letter from the energy and mineral ...
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- GN Power Mariveles Coal Plant, Philippines
- Bukit Makmur.PT - Indonesia
- Essar Steel Hazira Ltd - India
- The Treasury - Australian Government
- Vijayanagar Sugar Pvt Ltd - India
- Port Waratah Coal Services - Australia
- MS Steel International - UAE
- Coal and Oil Company - UAE
- Wood Mackenzie - Singapore
- Mintek Dendrill Indonesia
- Intertek Mineral Services - Indonesia
- Global Coal Blending Company Limited - Australia
- Pendopo Energi Batubara - Indonesia
- Sical Logistics Limited - India
- Manunggal Multi Energi - Indonesia
- Timah Investasi Mineral - Indoneisa
- TeaM Sual Corporation - Philippines
- White Energy Company Limited
- Borneo Indobara - Indonesia
- Barasentosa Lestari - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Kepco SPC Power Corporation, Philippines
- ICICI Bank Limited - India
- Indogreen Group - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Xindia Steels Limited - India
- AsiaOL BioFuels Corp., Philippines
- Aboitiz Power Corporation - Philippines
- Iligan Light & Power Inc, Philippines
- San Jose City I Power Corp, Philippines
- Vizag Seaport Private Limited - India
- Therma Luzon, Inc, Philippines
- Thiess Contractors Indonesia
- Samtan Co., Ltd - South Korea
- SMC Global Power, Philippines
- Parliament of New Zealand
- Bukit Baiduri Energy - Indonesia
- Indonesian Coal Mining Association
- Riau Bara Harum - Indonesia
- Global Green Power PLC Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Simpson Spence & Young - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Rio Tinto Coal - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Planning Commission, India
- Gujarat Mineral Development Corp Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Ministry of Mines - Canada
- Maheswari Brothers Coal Limited - India
- Holcim Trading Pte Ltd - Singapore
- Makarim & Taira - Indonesia
- Eastern Energy - Thailand
- Jorong Barutama Greston.PT - Indonesia
- Sarangani Energy Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Goldman Sachs - Singapore
- Kideco Jaya Agung - Indonesia
- Interocean Group of Companies - India
- PTC India Limited - India
- Electricity Authority, New Zealand
- Ceylon Electricity Board - Sri Lanka
- LBH Netherlands Bv - Netherlands
- VISA Power Limited - India
- Semirara Mining Corp, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Globalindo Alam Lestari - Indonesia
- IHS Mccloskey Coal Group - USA
- Dalmia Cement Bharat India
- Kumho Petrochemical, South Korea
- Antam Resourcindo - Indonesia
- SN Aboitiz Power Inc, Philippines
- Merrill Lynch Commodities Europe
- International Coal Ventures Pvt Ltd - India
- Orica Mining Services - Indonesia
- CIMB Investment Bank - Malaysia
- European Bulk Services B.V. - Netherlands
- Parry Sugars Refinery, India
- Jaiprakash Power Ventures ltd
- Star Paper Mills Limited - India
- Larsen & Toubro Limited - India
- Minerals Council of Australia
- Tata Chemicals Ltd - India
- Binh Thuan Hamico - Vietnam
- Kartika Selabumi Mining - Indonesia
- Edison Trading Spa - Italy
- Independent Power Producers Association of India
- Sinarmas Energy and Mining - Indonesia
- London Commodity Brokers - England
- Videocon Industries ltd - India
- Thai Mozambique Logistica
- PowerSource Philippines DevCo
- Bhoruka Overseas - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Romanian Commodities Exchange
- Petron Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- GAC Shipping (India) Pvt Ltd
- Meralco Power Generation, Philippines
- Altura Mining Limited, Indonesia
- Latin American Coal - Colombia
- Price Waterhouse Coopers - Russia
- Africa Commodities Group - South Africa
- Jindal Steel & Power Ltd - India
- Ind-Barath Power Infra Limited - India
- Bhatia International Limited - India
- Malabar Cements Ltd - India
- Georgia Ports Authority, United States
- Savvy Resources Ltd - HongKong
- Energy Development Corp, Philippines
- Baramulti Group, Indonesia
- The University of Queensland
- Bank of Tokyo Mitsubishi UFJ Ltd
- India Bulls Power Limited - India
- Formosa Plastics Group - Taiwan
- CNBM International Corporation - China
- Indika Energy - Indonesia
- Singapore Mercantile Exchange
- Kaltim Prima Coal - Indonesia
- Sree Jayajothi Cements Limited - India
- Mercator Lines Limited - India
- Billiton Holdings Pty Ltd - Australia
- Sakthi Sugars Limited - India
- Banpu Public Company Limited - Thailand
- Bangladesh Power Developement Board
- Renaissance Capital - South Africa
- Kohat Cement Company Ltd. - Pakistan
- Bahari Cakrawala Sebuku - Indonesia
- Sindya Power Generating Company Private Ltd
- Gujarat Electricity Regulatory Commission - India
- Medco Energi Mining Internasional
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Tamil Nadu electricity Board
- Salva Resources Pvt Ltd - India
- Marubeni Corporation - India
- Trasteel International SA, Italy
- Eastern Coal Council - USA
- ASAPP Information Group - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Oldendorff Carriers - Singapore
- Carbofer General Trading SA - India
- Gujarat Sidhee Cement - India
- Standard Chartered Bank - UAE
- Deloitte Consulting - India
- Directorate Of Revenue Intelligence - India
- Bharathi Cement Corporation - India
- Bhushan Steel Limited - India
- Meenaskhi Energy Private Limited - India
- Electricity Generating Authority of Thailand
- Posco Energy - South Korea
- Bukit Asam (Persero) Tbk - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Ministry of Finance - Indonesia
- Global Business Power Corporation, Philippines
- Ambuja Cements Ltd - India
- Heidelberg Cement - Germany
- Miang Besar Coal Terminal - Indonesia
- Anglo American - United Kingdom
- Chamber of Mines of South Africa
- Power Finance Corporation Ltd., India
- Energy Link Ltd, New Zealand
- SMG Consultants - Indonesia
- Siam City Cement - Thailand
- Attock Cement Pakistan Limited
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ministry of Transport, Egypt
- Neyveli Lignite Corporation Ltd, - India
- Karbindo Abesyapradhi - Indoneisa
- New Zealand Coal & Carbon
- Uttam Galva Steels Limited - India
- Coastal Gujarat Power Limited - India
- IEA Clean Coal Centre - UK
- Indian Energy Exchange, India
- Cigading International Bulk Terminal - Indonesia
- Australian Commodity Traders Exchange
- Kobexindo Tractors - Indoneisa
- Karaikal Port Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- Cement Manufacturers Association - India
- Bayan Resources Tbk. - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Chettinad Cement Corporation Ltd - India
- Commonwealth Bank - Australia
- Grasim Industreis Ltd - India
- Mjunction Services Limited - India
- Agrawal Coal Company - India
- Central Java Power - Indonesia
- Bulk Trading Sa - Switzerland
- Metalloyd Limited - United Kingdom
- Madhucon Powers Ltd - India
- Aditya Birla Group - India
- South Luzon Thermal Energy Corporation
- Lanco Infratech Ltd - India
- Central Electricity Authority - India
- Australian Coal Association
- Orica Australia Pty. Ltd.
- The State Trading Corporation of India Ltd
- Economic Council, Georgia
- Straits Asia Resources Limited - Singapore
- PNOC Exploration Corporation - Philippines
- Indo Tambangraya Megah - Indonesia
- Coalindo Energy - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Siam City Cement PLC, Thailand
- Indian Oil Corporation Limited
- Vedanta Resources Plc - India
- TNB Fuel Sdn Bhd - Malaysia
- GMR Energy Limited - India
- OPG Power Generation Pvt Ltd - India
- Sojitz Corporation - Japan
- McConnell Dowell - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Mercuria Energy - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Wilmar Investment Holdings
- GVK Power & Infra Limited - India
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