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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, 20 April 12
PANAMAXES LEAD DRY BULK MARKET TO HIGHER GROUND - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
A rebound of demand for smaller dry bulk carriers has led the industry’s benchmark, the BDI (Baltic Dry Index) above the 1,000-point mark for ...
Friday, 20 April 12
BUMA HAS PRODUCED 2.6 MILLION TONS OF COAL IN MARCH 2012
COALspot.com - BUMA has removed 28.0 million bcm (+6.4% YoY) of overburden in March 2012 while coal production was at 2.6 million tons (+1.3% YoY).
...
Thursday, 19 April 12
FRESH COAL SALES FROM JATENERGYS JONGKANG MINES
COALspot.com - Energy company Jatenergy Ltd (ASX code JAT) announced today that it had signed a contract for an 11,000 tonne coal sale due for shipm ...
Thursday, 19 April 12
HANDY - 'POSITIVE TREND', PANAMAX - 'A FIRMER TENDENCY', CAPESIZE - 'AGAIN NEGATIVE'
Handy
The positive trend from last week continued, with more cargoes entering the market. Skaw/Passero del fixed tick above USD 4000 for US Gulf di ...
Thursday, 19 April 12
WILLIS MARINE MARKET REVIEW FORECASTS ANOTHER DIFFICULT YEAR - WILLIS GLOBAL MARINE / HELLENIC SHIPPING
After an inauspicious start, 2012 could well be "another difficult and uncertain year for the maritime industry faced with the aftermath of the ...
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- Goldman Sachs - Singapore
- Kalimantan Lumbung Energi - Indonesia
- Formosa Plastics Group - Taiwan
- Coalindo Energy - Indonesia
- Price Waterhouse Coopers - Russia
- Rashtriya Ispat Nigam Limited - India
- IEA Clean Coal Centre - UK
- Meralco Power Generation, Philippines
- Karaikal Port Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Mercator Lines Limited - India
- Savvy Resources Ltd - HongKong
- Sarangani Energy Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Wilmar Investment Holdings
- Aditya Birla Group - India
- Borneo Indobara - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Central Java Power - Indonesia
- Merrill Lynch Commodities Europe
- Global Coal Blending Company Limited - Australia
- TeaM Sual Corporation - Philippines
- MS Steel International - UAE
- Directorate General of MIneral and Coal - Indonesia
- SN Aboitiz Power Inc, Philippines
- Romanian Commodities Exchange
- Bank of Tokyo Mitsubishi UFJ Ltd
- VISA Power Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Chettinad Cement Corporation Ltd - India
- Bukit Makmur.PT - Indonesia
- Kideco Jaya Agung - Indonesia
- Kartika Selabumi Mining - Indonesia
- Parry Sugars Refinery, India
- Commonwealth Bank - Australia
- Salva Resources Pvt Ltd - India
- Semirara Mining Corp, Philippines
- The University of Queensland
- European Bulk Services B.V. - Netherlands
- Bhoruka Overseas - Indonesia
- Binh Thuan Hamico - Vietnam
- Alfred C Toepfer International GmbH - Germany
- Billiton Holdings Pty Ltd - Australia
- CIMB Investment Bank - Malaysia
- Sical Logistics Limited - India
- Lanco Infratech Ltd - India
- LBH Netherlands Bv - Netherlands
- Rio Tinto Coal - Australia
- GMR Energy Limited - India
- PowerSource Philippines DevCo
- Carbofer General Trading SA - India
- Simpson Spence & Young - Indonesia
- Central Electricity Authority - India
- Cement Manufacturers Association - India
- Samtan Co., Ltd - South Korea
- Siam City Cement - Thailand
- Maheswari Brothers Coal Limited - India
- Kobexindo Tractors - Indoneisa
- Gujarat Sidhee Cement - India
- Trasteel International SA, Italy
- Directorate Of Revenue Intelligence - India
- Oldendorff Carriers - Singapore
- Ind-Barath Power Infra Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Timah Investasi Mineral - Indoneisa
- White Energy Company Limited
- Riau Bara Harum - Indonesia
- Kumho Petrochemical, South Korea
- Baramulti Group, Indonesia
- Africa Commodities Group - South Africa
- SMC Global Power, Philippines
- Intertek Mineral Services - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Iligan Light & Power Inc, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Videocon Industries ltd - India
- Indian Energy Exchange, India
- Madhucon Powers Ltd - India
- McConnell Dowell - Australia
- Standard Chartered Bank - UAE
- Minerals Council of Australia
- Indika Energy - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Bhatia International Limited - India
- Siam City Cement PLC, Thailand
- India Bulls Power Limited - India
- Eastern Energy - Thailand
- AsiaOL BioFuels Corp., Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Interocean Group of Companies - India
- Pendopo Energi Batubara - Indonesia
- Thiess Contractors Indonesia
- Leighton Contractors Pty Ltd - Australia
- Mintek Dendrill Indonesia
- Australian Coal Association
- GAC Shipping (India) Pvt Ltd
- Posco Energy - South Korea
- Toyota Tsusho Corporation, Japan
- Parliament of New Zealand
- Banpu Public Company Limited - Thailand
- Indian Oil Corporation Limited
- Jaiprakash Power Ventures ltd
- Malabar Cements Ltd - India
- Essar Steel Hazira Ltd - India
- Global Business Power Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Petron Corporation, Philippines
- Power Finance Corporation Ltd., India
- Renaissance Capital - South Africa
- Orica Australia Pty. Ltd.
- Georgia Ports Authority, United States
- Coastal Gujarat Power Limited - India
- Uttam Galva Steels Limited - India
- Cigading International Bulk Terminal - Indonesia
- Wood Mackenzie - Singapore
- Global Green Power PLC Corporation, Philippines
- Thai Mozambique Logistica
- Agrawal Coal Company - India
- Straits Asia Resources Limited - Singapore
- Chamber of Mines of South Africa
- Larsen & Toubro Limited - India
- Antam Resourcindo - Indonesia
- London Commodity Brokers - England
- Vedanta Resources Plc - India
- Indo Tambangraya Megah - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Therma Luzon, Inc, Philippines
- Independent Power Producers Association of India
- PNOC Exploration Corporation - Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Vizag Seaport Private Limited - India
- Coal and Oil Company - UAE
- Pipit Mutiara Jaya. PT, Indonesia
- Bangladesh Power Developement Board
- ASAPP Information Group - India
- Bharathi Cement Corporation - India
- Xindia Steels Limited - India
- Makarim & Taira - Indonesia
- Edison Trading Spa - Italy
- Jindal Steel & Power Ltd - India
- The Treasury - Australian Government
- Sojitz Corporation - Japan
- SMG Consultants - Indonesia
- Marubeni Corporation - India
- Energy Development Corp, Philippines
- Altura Mining Limited, Indonesia
- Anglo American - United Kingdom
- Bhushan Steel Limited - India
- Deloitte Consulting - India
- Tata Chemicals Ltd - India
- Electricity Authority, New Zealand
- Maharashtra Electricity Regulatory Commission - India
- Metalloyd Limited - United Kingdom
- PTC India Limited - India
- Meenaskhi Energy Private Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- IHS Mccloskey Coal Group - USA
- Kapuas Tunggal Persada - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Aboitiz Power Corporation - Philippines
- Ambuja Cements Ltd - India
- Port Waratah Coal Services - Australia
- Economic Council, Georgia
- International Coal Ventures Pvt Ltd - India
- Energy Link Ltd, New Zealand
- Bukit Baiduri Energy - Indonesia
- Medco Energi Mining Internasional
- Kepco SPC Power Corporation, Philippines
- ICICI Bank Limited - India
- Tamil Nadu electricity Board
- CNBM International Corporation - China
- Electricity Generating Authority of Thailand
- Latin American Coal - Colombia
- Indonesian Coal Mining Association
- Holcim Trading Pte Ltd - Singapore
- Bayan Resources Tbk. - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Sakthi Sugars Limited - India
- Eastern Coal Council - USA
- Karbindo Abesyapradhi - Indoneisa
- Barasentosa Lestari - Indonesia
- Mercuria Energy - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- GVK Power & Infra Limited - India
- Planning Commission, India
- Singapore Mercantile Exchange
- Manunggal Multi Energi - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indogreen Group - Indonesia
- OPG Power Generation Pvt Ltd - India
- Dalmia Cement Bharat India
- San Jose City I Power Corp, Philippines
- Ministry of Transport, Egypt
- Heidelberg Cement - Germany
- Ministry of Mines - Canada
- New Zealand Coal & Carbon
- Bulk Trading Sa - Switzerland
- GN Power Mariveles Coal Plant, Philippines
- Sree Jayajothi Cements Limited - India
- Sinarmas Energy and Mining - Indonesia
- Australian Commodity Traders Exchange
- Mjunction Services Limited - India
- South Luzon Thermal Energy Corporation
- Kaltim Prima Coal - Indonesia
- Attock Cement Pakistan Limited
- Star Paper Mills Limited - India
- Grasim Industreis Ltd - India
- Ministry of Finance - Indonesia
- Globalindo Alam Lestari - Indonesia
- Sindya Power Generating Company Private Ltd
- The State Trading Corporation of India Ltd
- Orica Mining Services - Indonesia
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