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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, 04 May 12
DEMOLITION KEY FOR DRY BULK MARKET RECOVERY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The overflow of newbuilding vessels which “spilled over” into 2012 from 2011 brought the dry bulk market to a near collapse level at the ...
Thursday, 03 May 12
DRY BULK MARKET REMAINS INACTIVE, POSTING MILD DECREASE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has kept retreating this week, although at a very low pace, on the back of a lull in demand. The industry's benchmark, th ...
Thursday, 03 May 12
MINERS DEMAND LEGAL CERTAINTY ON PRE-BAN INTERIM POLICY - THE JAKARTA POST
The Jakarta Post reported that, Mining companies represented by the Indonesian Mining Association (IMA) welcomed the government’s plan to impo ...
Thursday, 03 May 12
HANDY EAST COAST INDIA - CHINA AROUND USD 7000 - FEARNLEYS AS
Handy - Stable demand in the Atlantic offered good rates for the tonnage.
USG/Cont was worth USD 17500 and more. Baltic and Black Sea appeared to ...
Wednesday, 02 May 12
CHINA BLACKOUTS HIGHLIGHT PRICING POLICY WEAKNESS - FITCH
Fitch reported that, the likelihood of further electricity blackouts in China this summer underlines Fitch's view of the basic problem f ...
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- Kapuas Tunggal Persada - Indonesia
- Sical Logistics Limited - India
- Savvy Resources Ltd - HongKong
- Anglo American - United Kingdom
- Energy Link Ltd, New Zealand
- Commonwealth Bank - Australia
- Aditya Birla Group - India
- Oldendorff Carriers - Singapore
- Standard Chartered Bank - UAE
- Orica Australia Pty. Ltd.
- Central Java Power - Indonesia
- Mintek Dendrill Indonesia
- Coal and Oil Company - UAE
- Bank of Tokyo Mitsubishi UFJ Ltd
- Cement Manufacturers Association - India
- Bharathi Cement Corporation - India
- PNOC Exploration Corporation - Philippines
- SMC Global Power, Philippines
- Jindal Steel & Power Ltd - India
- Vedanta Resources Plc - India
- CIMB Investment Bank - Malaysia
- Kalimantan Lumbung Energi - Indonesia
- Altura Mining Limited, Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Parliament of New Zealand
- Karaikal Port Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- VISA Power Limited - India
- Star Paper Mills Limited - India
- Australian Coal Association
- ICICI Bank Limited - India
- Meralco Power Generation, Philippines
- Thiess Contractors Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Malabar Cements Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- PTC India Limited - India
- Energy Development Corp, Philippines
- Sakthi Sugars Limited - India
- Indian Oil Corporation Limited
- Formosa Plastics Group - Taiwan
- Miang Besar Coal Terminal - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Samtan Co., Ltd - South Korea
- IEA Clean Coal Centre - UK
- Price Waterhouse Coopers - Russia
- Jaiprakash Power Ventures ltd
- Kaltim Prima Coal - Indonesia
- GAC Shipping (India) Pvt Ltd
- Global Business Power Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- Meenaskhi Energy Private Limited - India
- Bhoruka Overseas - Indonesia
- CNBM International Corporation - China
- Thai Mozambique Logistica
- Jorong Barutama Greston.PT - Indonesia
- Videocon Industries ltd - India
- Kideco Jaya Agung - Indonesia
- Barasentosa Lestari - Indonesia
- Riau Bara Harum - Indonesia
- Bhatia International Limited - India
- Petron Corporation, Philippines
- Grasim Industreis Ltd - India
- Minerals Council of Australia
- Simpson Spence & Young - Indonesia
- Therma Luzon, Inc, Philippines
- Banpu Public Company Limited - Thailand
- Antam Resourcindo - Indonesia
- Billiton Holdings Pty Ltd - Australia
- London Commodity Brokers - England
- PowerSource Philippines DevCo
- Sindya Power Generating Company Private Ltd
- Renaissance Capital - South Africa
- South Luzon Thermal Energy Corporation
- Parry Sugars Refinery, India
- Essar Steel Hazira Ltd - India
- Semirara Mining Corp, Philippines
- Sinarmas Energy and Mining - Indonesia
- Rashtriya Ispat Nigam Limited - India
- MS Steel International - UAE
- Semirara Mining and Power Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Kepco SPC Power Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- India Bulls Power Limited - India
- Edison Trading Spa - Italy
- Interocean Group of Companies - India
- Sojitz Corporation - Japan
- AsiaOL BioFuels Corp., Philippines
- Global Green Power PLC Corporation, Philippines
- The Treasury - Australian Government
- Deloitte Consulting - India
- TNB Fuel Sdn Bhd - Malaysia
- Rio Tinto Coal - Australia
- Borneo Indobara - Indonesia
- New Zealand Coal & Carbon
- Ministry of Transport, Egypt
- Indian Energy Exchange, India
- Bahari Cakrawala Sebuku - Indonesia
- Economic Council, Georgia
- Pendopo Energi Batubara - Indonesia
- LBH Netherlands Bv - Netherlands
- Mercuria Energy - Indonesia
- Bhushan Steel Limited - India
- Posco Energy - South Korea
- Kobexindo Tractors - Indoneisa
- Indo Tambangraya Megah - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Chamber of Mines of South Africa
- Orica Mining Services - Indonesia
- Bayan Resources Tbk. - Indonesia
- European Bulk Services B.V. - Netherlands
- TeaM Sual Corporation - Philippines
- Power Finance Corporation Ltd., India
- Siam City Cement PLC, Thailand
- Siam City Cement - Thailand
- Directorate General of MIneral and Coal - Indonesia
- Tamil Nadu electricity Board
- Leighton Contractors Pty Ltd - Australia
- Mercator Lines Limited - India
- Straits Asia Resources Limited - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bulk Trading Sa - Switzerland
- Kartika Selabumi Mining - Indonesia
- Tata Chemicals Ltd - India
- Indika Energy - Indonesia
- Intertek Mineral Services - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Independent Power Producers Association of India
- Georgia Ports Authority, United States
- White Energy Company Limited
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Baramulti Group, Indonesia
- Ministry of Mines - Canada
- San Jose City I Power Corp, Philippines
- Manunggal Multi Energi - Indonesia
- International Coal Ventures Pvt Ltd - India
- Bangladesh Power Developement Board
- Maheswari Brothers Coal Limited - India
- Krishnapatnam Port Company Ltd. - India
- Bukit Baiduri Energy - Indonesia
- Eastern Energy - Thailand
- Wood Mackenzie - Singapore
- OPG Power Generation Pvt Ltd - India
- Electricity Generating Authority of Thailand
- Marubeni Corporation - India
- Australian Commodity Traders Exchange
- PetroVietnam Power Coal Import and Supply Company
- GVK Power & Infra Limited - India
- Chettinad Cement Corporation Ltd - India
- Trasteel International SA, Italy
- SMG Consultants - Indonesia
- Singapore Mercantile Exchange
- McConnell Dowell - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Asmin Koalindo Tuhup - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Port Waratah Coal Services - Australia
- Kumho Petrochemical, South Korea
- Merrill Lynch Commodities Europe
- Aboitiz Power Corporation - Philippines
- Heidelberg Cement - Germany
- Lanco Infratech Ltd - India
- Central Electricity Authority - India
- Gujarat Sidhee Cement - India
- Coalindo Energy - Indonesia
- Uttam Galva Steels Limited - India
- Binh Thuan Hamico - Vietnam
- ASAPP Information Group - India
- Medco Energi Mining Internasional
- Ind-Barath Power Infra Limited - India
- Coastal Gujarat Power Limited - India
- Xindia Steels Limited - India
- Electricity Authority, New Zealand
- Iligan Light & Power Inc, Philippines
- Indonesian Coal Mining Association
- Ministry of Finance - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Latin American Coal - Colombia
- Petrochimia International Co. Ltd.- Taiwan
- Africa Commodities Group - South Africa
- Indogreen Group - Indonesia
- Makarim & Taira - Indonesia
- Dalmia Cement Bharat India
- Cigading International Bulk Terminal - Indonesia
- IHS Mccloskey Coal Group - USA
- Sree Jayajothi Cements Limited - India
- Toyota Tsusho Corporation, Japan
- Mjunction Services Limited - India
- Directorate Of Revenue Intelligence - India
- Agrawal Coal Company - India
- The University of Queensland
- Wilmar Investment Holdings
- Ambuja Cements Ltd - India
- Goldman Sachs - Singapore
- Vizag Seaport Private Limited - India
- Bukit Makmur.PT - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- GMR Energy Limited - India
- Carbofer General Trading SA - India
- Gujarat Electricity Regulatory Commission - India
- Sarangani Energy Corporation, Philippines
- Planning Commission, India
- Salva Resources Pvt Ltd - India
- Larsen & Toubro Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Madhucon Powers Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Romanian Commodities Exchange
- The State Trading Corporation of India Ltd
- Attock Cement Pakistan Limited
- Global Coal Blending Company Limited - Australia
- Eastern Coal Council - USA
- Metalloyd Limited - United Kingdom
- SN Aboitiz Power Inc, Philippines
- Timah Investasi Mineral - Indoneisa
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