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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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Thursday, 26 April 12
BUKIT ASAMS 1Q OPERATING PROFIT MARGIN HAS INCREASED BY 6% TO RP. 1 TRILLION
COALspot.com - PT. Bukit Asam (Persero), the Indonesia’s state owned coal miner's 1Q, 2012 revenue has increased by 31% to Rp. 3.02 trillion ...
Thursday, 26 April 12
TAIPOWER TO BUY 1.15 MILLION TONS OF 5000 GAR COAL
COALspot.com - Taiwan Power Company intends to procure 1.125million tons of sub-bituminous coal for Taipower thermal power plant through open tender ...
Thursday, 26 April 12
TAIPOWER TO BUY 375,000 MT OF 4800 GAR COAL
COALspot.com - Taiwan Power Company intends to procure 375,000 metric tons of low sulfur sub-bituminous coal for Taipower thermal power plant ...
Thursday, 26 April 12
ADK SHIPPED 28,000 TONNES OF COAL THIS MONTH
COALspot.com - Orpheus Energy (ASX:OEG) has announced that four coal barges carrying a total of approximately 28,000 tonnes of ADK (Alam Duta K ...
Thursday, 26 April 12
DRY BULK CARRIERS RENTER FLEET AFTER IDLING, ON MARKETS RECOVERY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market seems to be back on track, not only solidifying the gains of the past couple of weeks, but also racing to new heights, recuperra ...
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- Bhatia International Limited - India
- ASAPP Information Group - India
- TNB Fuel Sdn Bhd - Malaysia
- New Zealand Coal & Carbon
- Planning Commission, India
- Sindya Power Generating Company Private Ltd
- Orica Australia Pty. Ltd.
- Aboitiz Power Corporation - Philippines
- Electricity Authority, New Zealand
- Bhoruka Overseas - Indonesia
- Toyota Tsusho Corporation, Japan
- Siam City Cement - Thailand
- Aditya Birla Group - India
- Bahari Cakrawala Sebuku - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Standard Chartered Bank - UAE
- Alfred C Toepfer International GmbH - Germany
- Miang Besar Coal Terminal - Indonesia
- Commonwealth Bank - Australia
- Kideco Jaya Agung - Indonesia
- Thai Mozambique Logistica
- White Energy Company Limited
- Goldman Sachs - Singapore
- Rio Tinto Coal - Australia
- Leighton Contractors Pty Ltd - Australia
- Ministry of Transport, Egypt
- Global Coal Blending Company Limited - Australia
- Malabar Cements Ltd - India
- SN Aboitiz Power Inc, Philippines
- Semirara Mining and Power Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- IHS Mccloskey Coal Group - USA
- Vizag Seaport Private Limited - India
- Edison Trading Spa - Italy
- Uttam Galva Steels Limited - India
- Port Waratah Coal Services - Australia
- Therma Luzon, Inc, Philippines
- Coastal Gujarat Power Limited - India
- CIMB Investment Bank - Malaysia
- Ministry of Mines - Canada
- SMC Global Power, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Medco Energi Mining Internasional
- Karaikal Port Pvt Ltd - India
- Coal and Oil Company - UAE
- Bhushan Steel Limited - India
- Bayan Resources Tbk. - Indonesia
- Chettinad Cement Corporation Ltd - India
- Wilmar Investment Holdings
- Sree Jayajothi Cements Limited - India
- OPG Power Generation Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Baramulti Group, Indonesia
- Australian Coal Association
- Global Green Power PLC Corporation, Philippines
- India Bulls Power Limited - India
- IEA Clean Coal Centre - UK
- Metalloyd Limited - United Kingdom
- Globalindo Alam Lestari - Indonesia
- Directorate Of Revenue Intelligence - India
- Price Waterhouse Coopers - Russia
- GMR Energy Limited - India
- Tata Chemicals Ltd - India
- Lanco Infratech Ltd - India
- Australian Commodity Traders Exchange
- Maheswari Brothers Coal Limited - India
- Binh Thuan Hamico - Vietnam
- Sojitz Corporation - Japan
- Indonesian Coal Mining Association
- Sarangani Energy Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- LBH Netherlands Bv - Netherlands
- Minerals Council of Australia
- Oldendorff Carriers - Singapore
- Africa Commodities Group - South Africa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Videocon Industries ltd - India
- Eastern Energy - Thailand
- Wood Mackenzie - Singapore
- Indo Tambangraya Megah - Indonesia
- Parry Sugars Refinery, India
- Kepco SPC Power Corporation, Philippines
- TeaM Sual Corporation - Philippines
- Timah Investasi Mineral - Indoneisa
- Chamber of Mines of South Africa
- Kaltim Prima Coal - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- The Treasury - Australian Government
- Banpu Public Company Limited - Thailand
- MS Steel International - UAE
- Star Paper Mills Limited - India
- Bulk Trading Sa - Switzerland
- Ambuja Cements Ltd - India
- Marubeni Corporation - India
- Sakthi Sugars Limited - India
- Intertek Mineral Services - Indonesia
- CNBM International Corporation - China
- VISA Power Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Anglo American - United Kingdom
- Mintek Dendrill Indonesia
- Meenaskhi Energy Private Limited - India
- European Bulk Services B.V. - Netherlands
- Power Finance Corporation Ltd., India
- Pendopo Energi Batubara - Indonesia
- Formosa Plastics Group - Taiwan
- Attock Cement Pakistan Limited
- Jorong Barutama Greston.PT - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Agrawal Coal Company - India
- Siam City Cement PLC, Thailand
- Holcim Trading Pte Ltd - Singapore
- Karbindo Abesyapradhi - Indoneisa
- Petron Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Altura Mining Limited, Indonesia
- Deloitte Consulting - India
- PNOC Exploration Corporation - Philippines
- Kalimantan Lumbung Energi - Indonesia
- Cement Manufacturers Association - India
- Samtan Co., Ltd - South Korea
- Semirara Mining Corp, Philippines
- Directorate General of MIneral and Coal - Indonesia
- GVK Power & Infra Limited - India
- Kumho Petrochemical, South Korea
- Heidelberg Cement - Germany
- Central Electricity Authority - India
- Indogreen Group - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bank of Tokyo Mitsubishi UFJ Ltd
- Georgia Ports Authority, United States
- Economic Council, Georgia
- Interocean Group of Companies - India
- Borneo Indobara - Indonesia
- London Commodity Brokers - England
- Makarim & Taira - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Sical Logistics Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Central Java Power - Indonesia
- Meralco Power Generation, Philippines
- Xindia Steels Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Offshore Bulk Terminal Pte Ltd, Singapore
- Vijayanagar Sugar Pvt Ltd - India
- Thiess Contractors Indonesia
- Mercator Lines Limited - India
- Salva Resources Pvt Ltd - India
- Coalindo Energy - Indonesia
- GAC Shipping (India) Pvt Ltd
- Mjunction Services Limited - India
- Parliament of New Zealand
- Electricity Generating Authority of Thailand
- Savvy Resources Ltd - HongKong
- Renaissance Capital - South Africa
- Jindal Steel & Power Ltd - India
- Gujarat Sidhee Cement - India
- PowerSource Philippines DevCo
- Bukit Baiduri Energy - Indonesia
- Ind-Barath Power Infra Limited - India
- Madhucon Powers Ltd - India
- Romanian Commodities Exchange
- Ministry of Finance - Indonesia
- International Coal Ventures Pvt Ltd - India
- Independent Power Producers Association of India
- Vedanta Resources Plc - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Mercuria Energy - Indonesia
- The University of Queensland
- GN Power Mariveles Coal Plant, Philippines
- Grasim Industreis Ltd - India
- PTC India Limited - India
- Manunggal Multi Energi - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Bukit Makmur.PT - Indonesia
- SMG Consultants - Indonesia
- Bangladesh Power Developement Board
- Jaiprakash Power Ventures ltd
- Larsen & Toubro Limited - India
- Posco Energy - South Korea
- Riau Bara Harum - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- San Jose City I Power Corp, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Gujarat Electricity Regulatory Commission - India
- Energy Development Corp, Philippines
- Eastern Coal Council - USA
- Straits Asia Resources Limited - Singapore
- Merrill Lynch Commodities Europe
- Barasentosa Lestari - Indonesia
- Kartika Selabumi Mining - Indonesia
- Essar Steel Hazira Ltd - India
- Carbofer General Trading SA - India
- Tamil Nadu electricity Board
- Indika Energy - Indonesia
- Global Business Power Corporation, Philippines
- ICICI Bank Limited - India
- Simpson Spence & Young - Indonesia
- Antam Resourcindo - Indonesia
- Orica Mining Services - Indonesia
- Latin American Coal - Colombia
- Cigading International Bulk Terminal - Indonesia
- Energy Link Ltd, New Zealand
- Dalmia Cement Bharat India
- McConnell Dowell - Australia
- South Luzon Thermal Energy Corporation
- Kobexindo Tractors - Indoneisa
- The State Trading Corporation of India Ltd
- Trasteel International SA, Italy
- Indian Oil Corporation Limited
- Bharathi Cement Corporation - India
- Singapore Mercantile Exchange
- Krishnapatnam Port Company Ltd. - India
- Indian Energy Exchange, India
- Iligan Light & Power Inc, Philippines
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