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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, 01 May 12
VIETNAM FEARS IT MAY NOT SEEK COAL SUPPLIES - TBKTSG / VIETNAMNET BRIDGE
TBKTSG / VietNamNet Bridge reported that, with five coal-run thermopower plants under construction, PetroVietnam alone would need 18 million tons of ...
Sunday, 29 April 12
THE FREIGHT MARKET EXPECTED TO BE STEADY NEXT WEEK - VISTAAR
COALspot.com - The BDI continued to go up with the support of Panamax/Supramax and was up by 8.34 pct closing at 1,156 points.
The cape index was ...
Sunday, 29 April 12
INDONESIAN SUB-BITUMINOUS COAL SWAPS FOR MAY 2012 DELIVERY WAS STABLE THIS WEEK
COALspot.com - Indonesian sub-bituminous coal swaps for May deliveries stable this week, according to DSP of SGX AsiaClear OTC Coal Swaps. In the me ...
Friday, 27 April 12
BUKIT ASAMS NET INCOME UP 14% IN 1Q 2012 (UNAUDITED)
Press Release - PT Bukit Asam (Persero) Tbk, announced the Consolidated Financial Statements and Subsidiaries per 31 March 2012 (Unaudited).
Reve ...
Thursday, 26 April 12
AUSTRALIAS COKAL EXPANDS MET COAL POTENTIAL INTO WEST KALIMANTAN
COALspot.com - Global metallurgical coal group Cokal Limited (Cokal) (ASX:CKA) announced today it has completed the acquisition of 75.2% of PT Silan ...
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- Manunggal Multi Energi - Indonesia
- ICICI Bank Limited - India
- Malabar Cements Ltd - India
- Mercator Lines Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Krishnapatnam Port Company Ltd. - India
- Energy Development Corp, Philippines
- Wood Mackenzie - Singapore
- IEA Clean Coal Centre - UK
- Gujarat Mineral Development Corp Ltd - India
- Star Paper Mills Limited - India
- Coastal Gujarat Power Limited - India
- Medco Energi Mining Internasional
- Central Electricity Authority - India
- Dalmia Cement Bharat India
- SMC Global Power, Philippines
- Heidelberg Cement - Germany
- Global Green Power PLC Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- India Bulls Power Limited - India
- The Treasury - Australian Government
- McConnell Dowell - Australia
- Karaikal Port Pvt Ltd - India
- Latin American Coal - Colombia
- Semirara Mining Corp, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Renaissance Capital - South Africa
- London Commodity Brokers - England
- Ind-Barath Power Infra Limited - India
- Savvy Resources Ltd - HongKong
- Maharashtra Electricity Regulatory Commission - India
- Xindia Steels Limited - India
- PNOC Exploration Corporation - Philippines
- Aboitiz Power Corporation - Philippines
- Carbofer General Trading SA - India
- Jindal Steel & Power Ltd - India
- Cement Manufacturers Association - India
- Antam Resourcindo - Indonesia
- GVK Power & Infra Limited - India
- European Bulk Services B.V. - Netherlands
- Ministry of Mines - Canada
- GAC Shipping (India) Pvt Ltd
- Intertek Mineral Services - Indonesia
- Straits Asia Resources Limited - Singapore
- New Zealand Coal & Carbon
- IHS Mccloskey Coal Group - USA
- Power Finance Corporation Ltd., India
- Petrochimia International Co. Ltd.- Taiwan
- Riau Bara Harum - Indonesia
- Ministry of Transport, Egypt
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Leighton Contractors Pty Ltd - Australia
- Alfred C Toepfer International GmbH - Germany
- Samtan Co., Ltd - South Korea
- Binh Thuan Hamico - Vietnam
- Kobexindo Tractors - Indoneisa
- Thai Mozambique Logistica
- Sarangani Energy Corporation, Philippines
- Kumho Petrochemical, South Korea
- Port Waratah Coal Services - Australia
- Africa Commodities Group - South Africa
- The University of Queensland
- Billiton Holdings Pty Ltd - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Independent Power Producers Association of India
- LBH Netherlands Bv - Netherlands
- Ambuja Cements Ltd - India
- Kaltim Prima Coal - Indonesia
- PowerSource Philippines DevCo
- Bukit Baiduri Energy - Indonesia
- International Coal Ventures Pvt Ltd - India
- Edison Trading Spa - Italy
- PetroVietnam Power Coal Import and Supply Company
- Gujarat Electricity Regulatory Commission - India
- Australian Coal Association
- Standard Chartered Bank - UAE
- Bhatia International Limited - India
- SN Aboitiz Power Inc, Philippines
- Commonwealth Bank - Australia
- Jaiprakash Power Ventures ltd
- Neyveli Lignite Corporation Ltd, - India
- Bayan Resources Tbk. - Indonesia
- Tamil Nadu electricity Board
- Ceylon Electricity Board - Sri Lanka
- Posco Energy - South Korea
- Mintek Dendrill Indonesia
- Rashtriya Ispat Nigam Limited - India
- Trasteel International SA, Italy
- Parry Sugars Refinery, India
- PTC India Limited - India
- Larsen & Toubro Limited - India
- Agrawal Coal Company - India
- MS Steel International - UAE
- Cigading International Bulk Terminal - Indonesia
- South Luzon Thermal Energy Corporation
- Minerals Council of Australia
- Salva Resources Pvt Ltd - India
- Ministry of Finance - Indonesia
- San Jose City I Power Corp, Philippines
- Orica Australia Pty. Ltd.
- SMG Consultants - Indonesia
- Sical Logistics Limited - India
- Formosa Plastics Group - Taiwan
- Sinarmas Energy and Mining - Indonesia
- White Energy Company Limited
- Pendopo Energi Batubara - Indonesia
- Barasentosa Lestari - Indonesia
- Gujarat Sidhee Cement - India
- Pipit Mutiara Jaya. PT, Indonesia
- Miang Besar Coal Terminal - Indonesia
- Wilmar Investment Holdings
- Bukit Makmur.PT - Indonesia
- Vedanta Resources Plc - India
- Indo Tambangraya Megah - Indonesia
- Essar Steel Hazira Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Sojitz Corporation - Japan
- AsiaOL BioFuels Corp., Philippines
- Therma Luzon, Inc, Philippines
- Iligan Light & Power Inc, Philippines
- Siam City Cement - Thailand
- VISA Power Limited - India
- Rio Tinto Coal - Australia
- Grasim Industreis Ltd - India
- Simpson Spence & Young - Indonesia
- Lanco Infratech Ltd - India
- Kideco Jaya Agung - Indonesia
- Sree Jayajothi Cements Limited - India
- Sindya Power Generating Company Private Ltd
- Goldman Sachs - Singapore
- Maheswari Brothers Coal Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Kapuas Tunggal Persada - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- TeaM Sual Corporation - Philippines
- Petron Corporation, Philippines
- Aditya Birla Group - India
- Karbindo Abesyapradhi - Indoneisa
- Mjunction Services Limited - India
- Kepco SPC Power Corporation, Philippines
- Bhushan Steel Limited - India
- Videocon Industries ltd - India
- Altura Mining Limited, Indonesia
- Sakthi Sugars Limited - India
- Singapore Mercantile Exchange
- Globalindo Alam Lestari - Indonesia
- Madhucon Powers Ltd - India
- Banpu Public Company Limited - Thailand
- Deloitte Consulting - India
- Siam City Cement PLC, Thailand
- Electricity Generating Authority of Thailand
- Baramulti Group, Indonesia
- Indika Energy - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Marubeni Corporation - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Coalindo Energy - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Borneo Indobara - Indonesia
- Interocean Group of Companies - India
- Timah Investasi Mineral - Indoneisa
- Energy Link Ltd, New Zealand
- Oldendorff Carriers - Singapore
- Global Coal Blending Company Limited - Australia
- Attock Cement Pakistan Limited
- Economic Council, Georgia
- The State Trading Corporation of India Ltd
- Australian Commodity Traders Exchange
- Romanian Commodities Exchange
- Coal and Oil Company - UAE
- Holcim Trading Pte Ltd - Singapore
- Orica Mining Services - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Metalloyd Limited - United Kingdom
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kartika Selabumi Mining - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Anglo American - United Kingdom
- Price Waterhouse Coopers - Russia
- Bangladesh Power Developement Board
- Toyota Tsusho Corporation, Japan
- Meenaskhi Energy Private Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Parliament of New Zealand
- Global Business Power Corporation, Philippines
- Vizag Seaport Private Limited - India
- GMR Energy Limited - India
- Electricity Authority, New Zealand
- Tata Chemicals Ltd - India
- CNBM International Corporation - China
- Merrill Lynch Commodities Europe
- Eastern Coal Council - USA
- Bharathi Cement Corporation - India
- Meralco Power Generation, Philippines
- Indogreen Group - Indonesia
- Bhoruka Overseas - Indonesia
- Directorate Of Revenue Intelligence - India
- OPG Power Generation Pvt Ltd - India
- Indian Oil Corporation Limited
- Kalimantan Lumbung Energi - Indonesia
- Makarim & Taira - Indonesia
- Planning Commission, India
- CIMB Investment Bank - Malaysia
- ASAPP Information Group - India
- Asmin Koalindo Tuhup - Indonesia
- Georgia Ports Authority, United States
- Chamber of Mines of South Africa
- Central Java Power - Indonesia
- Uttam Galva Steels Limited - India
- Mercuria Energy - Indonesia
- Indonesian Coal Mining Association
- Indian Energy Exchange, India
- Bulk Trading Sa - Switzerland
- Thiess Contractors Indonesia
- Eastern Energy - Thailand
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