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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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Wednesday, 18 April 12
INDONESIA TO INTRODUCE EXPORT DUTY ON MINERAL ORES BY 6 MAY 2012
The Indonesian government is scheduled to issue regulation on export duty for minerals before May 6, 2012.
According to Bisnis Indonesia, as quot ...
Sunday, 15 April 12
THE SPOT FIXTURE RATES FOR SUPRAMAX IN SE ASIA SAW SOME SOFTENING OF CHARTER RATES - VISTAAR
COALspot.com - The market seem to be holding and except for Supramax and handy size index all other index was up with BDI up by 4.74 pct closing at ...
Friday, 13 April 12
MINERS OPPOSE GOVTS EXPORT TAX PLAN - THE JAKARTA POST
The Jakarta Post reported that, Indonesian mining companies have strongly protested the government’s plan to impose a 25 percent export tax on ...
Friday, 13 April 12
S&P CAUTIONS AGAINST NEW INDONESIAN MINING REGULATIONS - THE JAKARTA GLOBE
The Jakarta Globe reported that, Investors may have expressed concerns about looming new mining regulations, but ratings agency Standard & Poor& ...
Thursday, 12 April 12
FIRST QUARTER OF 2012 SAW AN ADDITIONAL 24.2 MILLION DWT OF DRY BULK CARRIERS ENTERING THE FLEET - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The inflow of newbuilt dry bulk vessels was larger than expected in the first quarter of 2012. As much as 24.2 million DWT were added to the fleet. ...
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- Bukit Asam (Persero) Tbk - Indonesia
- Agrawal Coal Company - India
- Savvy Resources Ltd - HongKong
- Parliament of New Zealand
- Economic Council, Georgia
- Essar Steel Hazira Ltd - India
- Uttam Galva Steels Limited - India
- Madhucon Powers Ltd - India
- Vedanta Resources Plc - India
- SMG Consultants - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Star Paper Mills Limited - India
- ASAPP Information Group - India
- Meenaskhi Energy Private Limited - India
- Energy Development Corp, Philippines
- Kartika Selabumi Mining - Indonesia
- Sakthi Sugars Limited - India
- Riau Bara Harum - Indonesia
- Globalindo Alam Lestari - Indonesia
- Iligan Light & Power Inc, Philippines
- Minerals Council of Australia
- Maharashtra Electricity Regulatory Commission - India
- PowerSource Philippines DevCo
- Videocon Industries ltd - India
- Ministry of Transport, Egypt
- Standard Chartered Bank - UAE
- Offshore Bulk Terminal Pte Ltd, Singapore
- Intertek Mineral Services - Indonesia
- Tamil Nadu electricity Board
- Formosa Plastics Group - Taiwan
- Cement Manufacturers Association - India
- Anglo American - United Kingdom
- Kepco SPC Power Corporation, Philippines
- Bangladesh Power Developement Board
- TeaM Sual Corporation - Philippines
- Kideco Jaya Agung - Indonesia
- Altura Mining Limited, Indonesia
- Coalindo Energy - Indonesia
- Indian Energy Exchange, India
- LBH Netherlands Bv - Netherlands
- Georgia Ports Authority, United States
- Planning Commission, India
- Sindya Power Generating Company Private Ltd
- Banpu Public Company Limited - Thailand
- IHS Mccloskey Coal Group - USA
- India Bulls Power Limited - India
- Krishnapatnam Port Company Ltd. - India
- Global Green Power PLC Corporation, Philippines
- Independent Power Producers Association of India
- Goldman Sachs - Singapore
- GAC Shipping (India) Pvt Ltd
- Parry Sugars Refinery, India
- Electricity Generating Authority of Thailand
- Samtan Co., Ltd - South Korea
- Xindia Steels Limited - India
- Coastal Gujarat Power Limited - India
- Therma Luzon, Inc, Philippines
- Energy Link Ltd, New Zealand
- Orica Australia Pty. Ltd.
- Miang Besar Coal Terminal - Indonesia
- Wilmar Investment Holdings
- Meralco Power Generation, Philippines
- Indogreen Group - Indonesia
- Global Business Power Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- International Coal Ventures Pvt Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Australian Coal Association
- Kumho Petrochemical, South Korea
- Pipit Mutiara Jaya. PT, Indonesia
- Cigading International Bulk Terminal - Indonesia
- London Commodity Brokers - England
- Aditya Birla Group - India
- Romanian Commodities Exchange
- Maheswari Brothers Coal Limited - India
- Australian Commodity Traders Exchange
- Leighton Contractors Pty Ltd - Australia
- Jaiprakash Power Ventures ltd
- Chamber of Mines of South Africa
- VISA Power Limited - India
- Toyota Tsusho Corporation, Japan
- Mercator Lines Limited - India
- Binh Thuan Hamico - Vietnam
- Bharathi Cement Corporation - India
- Jorong Barutama Greston.PT - Indonesia
- Wood Mackenzie - Singapore
- Semirara Mining and Power Corporation, Philippines
- Africa Commodities Group - South Africa
- Kohat Cement Company Ltd. - Pakistan
- Sical Logistics Limited - India
- Petron Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- Bhoruka Overseas - Indonesia
- Indo Tambangraya Megah - Indonesia
- OPG Power Generation Pvt Ltd - India
- Edison Trading Spa - Italy
- Gujarat Sidhee Cement - India
- Global Coal Blending Company Limited - Australia
- Metalloyd Limited - United Kingdom
- Grasim Industreis Ltd - India
- Deloitte Consulting - India
- Simpson Spence & Young - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Price Waterhouse Coopers - Russia
- Ceylon Electricity Board - Sri Lanka
- Alfred C Toepfer International GmbH - Germany
- Latin American Coal - Colombia
- Jindal Steel & Power Ltd - India
- New Zealand Coal & Carbon
- Directorate General of MIneral and Coal - Indonesia
- Semirara Mining Corp, Philippines
- Rio Tinto Coal - Australia
- Bhatia International Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Thai Mozambique Logistica
- Karaikal Port Pvt Ltd - India
- GVK Power & Infra Limited - India
- White Energy Company Limited
- PetroVietnam Power Coal Import and Supply Company
- Marubeni Corporation - India
- Gujarat Mineral Development Corp Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Kaltim Prima Coal - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- PTC India Limited - India
- MS Steel International - UAE
- Orica Mining Services - Indonesia
- Port Waratah Coal Services - Australia
- IEA Clean Coal Centre - UK
- Baramulti Group, Indonesia
- Bhushan Steel Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Electricity Authority, New Zealand
- Sarangani Energy Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- San Jose City I Power Corp, Philippines
- Carbofer General Trading SA - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indika Energy - Indonesia
- The State Trading Corporation of India Ltd
- Ministry of Mines - Canada
- Singapore Mercantile Exchange
- Barasentosa Lestari - Indonesia
- Vizag Seaport Private Limited - India
- CNBM International Corporation - China
- South Luzon Thermal Energy Corporation
- Bulk Trading Sa - Switzerland
- Bukit Makmur.PT - Indonesia
- SN Aboitiz Power Inc, Philippines
- Salva Resources Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- GMR Energy Limited - India
- Lanco Infratech Ltd - India
- Bayan Resources Tbk. - Indonesia
- Ministry of Finance - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Eastern Coal Council - USA
- Eastern Energy - Thailand
- Kobexindo Tractors - Indoneisa
- Ambuja Cements Ltd - India
- Merrill Lynch Commodities Europe
- Medco Energi Mining Internasional
- Posco Energy - South Korea
- AsiaOL BioFuels Corp., Philippines
- Thiess Contractors Indonesia
- Interocean Group of Companies - India
- Indonesian Coal Mining Association
- Heidelberg Cement - Germany
- ICICI Bank Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indian Oil Corporation Limited
- Mercuria Energy - Indonesia
- Makarim & Taira - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Dalmia Cement Bharat India
- The University of Queensland
- Aboitiz Power Corporation - Philippines
- Attock Cement Pakistan Limited
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Central Electricity Authority - India
- The Treasury - Australian Government
- Siam City Cement PLC, Thailand
- Malabar Cements Ltd - India
- Mjunction Services Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Directorate Of Revenue Intelligence - India
- PNOC Exploration Corporation - Philippines
- Timah Investasi Mineral - Indoneisa
- Sojitz Corporation - Japan
- Billiton Holdings Pty Ltd - Australia
- Larsen & Toubro Limited - India
- Commonwealth Bank - Australia
- Tata Chemicals Ltd - India
- Power Finance Corporation Ltd., India
- Siam City Cement - Thailand
- Antam Resourcindo - Indonesia
- Trasteel International SA, Italy
- Straits Asia Resources Limited - Singapore
- CIMB Investment Bank - Malaysia
- Borneo Indobara - Indonesia
- Coal and Oil Company - UAE
- Mintek Dendrill Indonesia
- Sinarmas Energy and Mining - Indonesia
- McConnell Dowell - Australia
- European Bulk Services B.V. - Netherlands
- Bukit Baiduri Energy - Indonesia
- Renaissance Capital - South Africa
- SMC Global Power, Philippines
- Pendopo Energi Batubara - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Central Java Power - Indonesia
- Oldendorff Carriers - Singapore
- Holcim Trading Pte Ltd - Singapore
- Ind-Barath Power Infra Limited - India
- Chettinad Cement Corporation Ltd - India
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