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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
PANAMAXES AGAIN EARN MORE THAN CAPESIZES - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The latest surge of demand for Panamaxes has led the dry bulk market to new higher ground on Monday, with the Baltic Dry Index (BDI) reaching 1,090 ...
Wednesday, 25 April 12
CHINA IMPORTS 9.76 MMT AND INDIA IMPORTS 7.03 MMT OF INDONESIAN COAL LAST MONTH
COALspot.com: Indonesia, the world largest coal exporter, shipped 30.64* million tons of coal in March 2012, compared to 27.12* million tons i ...
Monday, 23 April 12
ALTURA ENTERS INTO AGREEMENT TO ACQUIRE 2 COAL PROJECTS IN SOUTH KALIMANTAN
COALspot.com - Altura Mining Limited (ASX: AJM) has announced that it has entered into an agreement to acquire a further two (2) Mining Permits (IUP ...
Sunday, 22 April 12
THE FREIGHT MARKET EXPECTED TO REMAIN FIRM NEXT WEEK - VISTAAR
COALspot.com - The BDI has broken the psychological barrier of 1000 points and closed at 1067 points.
The cape index was slightly down by 2.48 pc ...
Saturday, 21 April 12
INDONESIAN SUB-BITUMINOUS COAL SWAPS DROP 2.61 PERCENT THIS WEEK
COALspot.com - Indonesian sub-bituminous coal swaps fell for a fifth day, according to DSP of SGX AsiaClear OTC Coal Swaps.
CFR South China Coal ...
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- Manunggal Multi Energi - Indonesia
- Indonesian Coal Mining Association
- Bangladesh Power Developement Board
- Asmin Koalindo Tuhup - Indonesia
- Miang Besar Coal Terminal - Indonesia
- SMG Consultants - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Ceylon Electricity Board - Sri Lanka
- Bhoruka Overseas - Indonesia
- Wilmar Investment Holdings
- Karbindo Abesyapradhi - Indoneisa
- PetroVietnam Power Coal Import and Supply Company
- Star Paper Mills Limited - India
- Economic Council, Georgia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Rashtriya Ispat Nigam Limited - India
- VISA Power Limited - India
- Goldman Sachs - Singapore
- Metalloyd Limited - United Kingdom
- Directorate Of Revenue Intelligence - India
- Bukit Makmur.PT - Indonesia
- Tata Chemicals Ltd - India
- Kaltim Prima Coal - Indonesia
- Siam City Cement - Thailand
- ICICI Bank Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Independent Power Producers Association of India
- Makarim & Taira - Indonesia
- Jaiprakash Power Ventures ltd
- Coal and Oil Company - UAE
- Electricity Authority, New Zealand
- Georgia Ports Authority, United States
- Riau Bara Harum - Indonesia
- Parliament of New Zealand
- Energy Development Corp, Philippines
- GMR Energy Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- South Luzon Thermal Energy Corporation
- Orica Mining Services - Indonesia
- Romanian Commodities Exchange
- Indian Energy Exchange, India
- Aditya Birla Group - India
- Bhatia International Limited - India
- Semirara Mining Corp, Philippines
- Kartika Selabumi Mining - Indonesia
- Barasentosa Lestari - Indonesia
- Therma Luzon, Inc, Philippines
- Bayan Resources Tbk. - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Intertek Mineral Services - Indonesia
- Indo Tambangraya Megah - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Uttam Galva Steels Limited - India
- Ministry of Transport, Egypt
- Sarangani Energy Corporation, Philippines
- Orica Australia Pty. Ltd.
- Heidelberg Cement - Germany
- Central Java Power - Indonesia
- Sakthi Sugars Limited - India
- Semirara Mining and Power Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Aboitiz Power Corporation - Philippines
- GAC Shipping (India) Pvt Ltd
- Medco Energi Mining Internasional
- Alfred C Toepfer International GmbH - Germany
- TeaM Sual Corporation - Philippines
- Energy Link Ltd, New Zealand
- GVK Power & Infra Limited - India
- The State Trading Corporation of India Ltd
- Sojitz Corporation - Japan
- PowerSource Philippines DevCo
- Wood Mackenzie - Singapore
- Agrawal Coal Company - India
- Billiton Holdings Pty Ltd - Australia
- Ministry of Mines - Canada
- White Energy Company Limited
- LBH Netherlands Bv - Netherlands
- Marubeni Corporation - India
- Timah Investasi Mineral - Indoneisa
- Port Waratah Coal Services - Australia
- Neyveli Lignite Corporation Ltd, - India
- Coalindo Energy - Indonesia
- Straits Asia Resources Limited - Singapore
- Global Business Power Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- Altura Mining Limited, Indonesia
- Latin American Coal - Colombia
- Indian Oil Corporation Limited
- Asia Pacific Energy Resources Ventures Inc, Philippines
- CNBM International Corporation - China
- Ind-Barath Power Infra Limited - India
- Sree Jayajothi Cements Limited - India
- Oldendorff Carriers - Singapore
- ASAPP Information Group - India
- Australian Coal Association
- Bahari Cakrawala Sebuku - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Ministry of Finance - Indonesia
- Videocon Industries ltd - India
- San Jose City I Power Corp, Philippines
- Samtan Co., Ltd - South Korea
- Carbofer General Trading SA - India
- India Bulls Power Limited - India
- The Treasury - Australian Government
- Deloitte Consulting - India
- Lanco Infratech Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Maheswari Brothers Coal Limited - India
- Kideco Jaya Agung - Indonesia
- Attock Cement Pakistan Limited
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Kepco SPC Power Corporation, Philippines
- Simpson Spence & Young - Indonesia
- Eastern Energy - Thailand
- Global Green Power PLC Corporation, Philippines
- Renaissance Capital - South Africa
- Bank of Tokyo Mitsubishi UFJ Ltd
- Commonwealth Bank - Australia
- Sinarmas Energy and Mining - Indonesia
- Xindia Steels Limited - India
- CIMB Investment Bank - Malaysia
- Jindal Steel & Power Ltd - India
- Standard Chartered Bank - UAE
- Larsen & Toubro Limited - India
- European Bulk Services B.V. - Netherlands
- Electricity Generating Authority of Thailand
- Anglo American - United Kingdom
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Mercuria Energy - Indonesia
- Formosa Plastics Group - Taiwan
- Grasim Industreis Ltd - India
- Borneo Indobara - Indonesia
- Bhushan Steel Limited - India
- Kapuas Tunggal Persada - Indonesia
- Bulk Trading Sa - Switzerland
- Madhucon Powers Ltd - India
- Essar Steel Hazira Ltd - India
- IEA Clean Coal Centre - UK
- Trasteel International SA, Italy
- Thiess Contractors Indonesia
- Savvy Resources Ltd - HongKong
- Gujarat Electricity Regulatory Commission - India
- The University of Queensland
- PNOC Exploration Corporation - Philippines
- International Coal Ventures Pvt Ltd - India
- Mercator Lines Limited - India
- Indika Energy - Indonesia
- Vizag Seaport Private Limited - India
- Kumho Petrochemical, South Korea
- Central Electricity Authority - India
- Dalmia Cement Bharat India
- Chamber of Mines of South Africa
- Mintek Dendrill Indonesia
- Posco Energy - South Korea
- SMC Global Power, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Sindya Power Generating Company Private Ltd
- Meralco Power Generation, Philippines
- Chettinad Cement Corporation Ltd - India
- Singapore Mercantile Exchange
- Pendopo Energi Batubara - Indonesia
- Iligan Light & Power Inc, Philippines
- New Zealand Coal & Carbon
- Thai Mozambique Logistica
- Malabar Cements Ltd - India
- Ambuja Cements Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Rio Tinto Coal - Australia
- Price Waterhouse Coopers - Russia
- Salva Resources Pvt Ltd - India
- Australian Commodity Traders Exchange
- Binh Thuan Hamico - Vietnam
- Power Finance Corporation Ltd., India
- Vedanta Resources Plc - India
- Coastal Gujarat Power Limited - India
- Tamil Nadu electricity Board
- Minerals Council of Australia
- Planning Commission, India
- TNB Fuel Sdn Bhd - Malaysia
- Parry Sugars Refinery, India
- Gujarat Sidhee Cement - India
- Bukit Baiduri Energy - Indonesia
- Kobexindo Tractors - Indoneisa
- Kohat Cement Company Ltd. - Pakistan
- Siam City Cement PLC, Thailand
- MS Steel International - UAE
- IHS Mccloskey Coal Group - USA
- McConnell Dowell - Australia
- Krishnapatnam Port Company Ltd. - India
- Mjunction Services Limited - India
- Globalindo Alam Lestari - Indonesia
- Indogreen Group - Indonesia
- Edison Trading Spa - Italy
- SN Aboitiz Power Inc, Philippines
- Meenaskhi Energy Private Limited - India
- Petron Corporation, Philippines
- Banpu Public Company Limited - Thailand
- OPG Power Generation Pvt Ltd - India
- Cement Manufacturers Association - India
- Baramulti Group, Indonesia
- PTC India Limited - India
- Bharathi Cement Corporation - India
- Gujarat Mineral Development Corp Ltd - India
- Global Coal Blending Company Limited - Australia
- Sical Logistics Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Interocean Group of Companies - India
- Antam Resourcindo - Indonesia
- Africa Commodities Group - South Africa
- Merrill Lynch Commodities Europe
- Cigading International Bulk Terminal - Indonesia
- London Commodity Brokers - England
- Karaikal Port Pvt Ltd - India
- Eastern Coal Council - USA
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