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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, 11 April 12
TWO PERCENT OF IBP CONCESSION CONTAINS 42 MMT OF COAL
COALspot.com - 42.35 million ton of coal found in just 2% of PT Insani Bara Perkasa’s total concession area of 24,477 hectare.
Accord ...
Wednesday, 11 April 12
DRY BULK MARKET STILL SUBDUED, RECOVERY NOT YET SEEN - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market entered the new week after the past days of easter holidays in western countries in a subdued mood. The industry’s benchma ...
Monday, 09 April 12
WEEKLY DRY MARKET OVERVIEW - MARIA BERTZELETOU, HELLENIC SHIPPING
The first week of April ended with the Baltic Dry Index falling below 950 points, before Catholic Easter, and capesizes showing a modest upturn with ...
Sunday, 08 April 12
CHARTER RATES COULD CONTINUE TO BE SOFT NEXT WEEK - VISTAAR
COALspot.com - The BDI was almost at same levels closing slightly lower by 0.64 pct at 928 points.
The Cape index was up by 6.73 pct closing at ...
Friday, 06 April 12
INDONESIAN HBA FALL TO LOWEST LEVEL SINCE JANUARY 2011
COALspot.com - Indonesian HBA fall to lowest level since January 2011 this month. The monthly coal reference price for coal sales in April fal ...
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- Neyveli Lignite Corporation Ltd, - India
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- Globalindo Alam Lestari - Indonesia
- SN Aboitiz Power Inc, Philippines
- Jaiprakash Power Ventures ltd
- Bayan Resources Tbk. - Indonesia
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- Bukit Asam (Persero) Tbk - Indonesia
- Toyota Tsusho Corporation, Japan
- OPG Power Generation Pvt Ltd - India
- Economic Council, Georgia
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- Larsen & Toubro Limited - India
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- Rio Tinto Coal - Australia
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- Port Waratah Coal Services - Australia
- Metalloyd Limited - United Kingdom
- Standard Chartered Bank - UAE
- Carbofer General Trading SA - India
- Thai Mozambique Logistica
- Gujarat Electricity Regulatory Commission - India
- Banpu Public Company Limited - Thailand
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- Sindya Power Generating Company Private Ltd
- Edison Trading Spa - Italy
- Salva Resources Pvt Ltd - India
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- Coal and Oil Company - UAE
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- Anglo American - United Kingdom
- Petron Corporation, Philippines
- Bharathi Cement Corporation - India
- Bulk Trading Sa - Switzerland
- Coastal Gujarat Power Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Maharashtra Electricity Regulatory Commission - India
- Commonwealth Bank - Australia
- MS Steel International - UAE
- Petrochimia International Co. Ltd.- Taiwan
- Global Business Power Corporation, Philippines
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- Parliament of New Zealand
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- Singapore Mercantile Exchange
- Gujarat Mineral Development Corp Ltd - India
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- Bhatia International Limited - India
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- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Mjunction Services Limited - India
- Semirara Mining Corp, Philippines
- Jorong Barutama Greston.PT - Indonesia
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- Simpson Spence & Young - Indonesia
- Chamber of Mines of South Africa
- New Zealand Coal & Carbon
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- San Jose City I Power Corp, Philippines
- Minerals Council of Australia
- Orica Australia Pty. Ltd.
- GAC Shipping (India) Pvt Ltd
- Eastern Coal Council - USA
- ICICI Bank Limited - India
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- Trasteel International SA, Italy
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- International Coal Ventures Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- Ministry of Finance - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Kapuas Tunggal Persada - Indonesia
- Barasentosa Lestari - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Central Electricity Authority - India
- European Bulk Services B.V. - Netherlands
- Kobexindo Tractors - Indoneisa
- Indonesian Coal Mining Association
- Meenaskhi Energy Private Limited - India
- IEA Clean Coal Centre - UK
- Asia Pacific Energy Resources Ventures Inc, Philippines
- McConnell Dowell - Australia
- Central Java Power - Indonesia
- Interocean Group of Companies - India
- The Treasury - Australian Government
- Siam City Cement PLC, Thailand
- Ceylon Electricity Board - Sri Lanka
- PTC India Limited - India
- Energy Link Ltd, New Zealand
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- Mintek Dendrill Indonesia
- Essar Steel Hazira Ltd - India
- GVK Power & Infra Limited - India
- Tamil Nadu electricity Board
- Xindia Steels Limited - India
- London Commodity Brokers - England
- Borneo Indobara - Indonesia
- White Energy Company Limited
- Oldendorff Carriers - Singapore
- PowerSource Philippines DevCo
- Bukit Makmur.PT - Indonesia
- Ministry of Mines - Canada
- Pipit Mutiara Jaya. PT, Indonesia
- CNBM International Corporation - China
- Orica Mining Services - Indonesia
- Madhucon Powers Ltd - India
- Merrill Lynch Commodities Europe
- SMC Global Power, Philippines
- Kalimantan Lumbung Energi - Indonesia
- LBH Netherlands Bv - Netherlands
- Baramulti Group, Indonesia
- Coalindo Energy - Indonesia
- Formosa Plastics Group - Taiwan
- Sojitz Corporation - Japan
- Bangladesh Power Developement Board
- Star Paper Mills Limited - India
- Eastern Energy - Thailand
- South Luzon Thermal Energy Corporation
- Asmin Koalindo Tuhup - Indonesia
- Kaltim Prima Coal - Indonesia
- Vedanta Resources Plc - India
- Planning Commission, India
- Romanian Commodities Exchange
- Therma Luzon, Inc, Philippines
- Sical Logistics Limited - India
- Electricity Generating Authority of Thailand
- Semirara Mining and Power Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- Sinarmas Energy and Mining - Indonesia
- Binh Thuan Hamico - Vietnam
- Timah Investasi Mineral - Indoneisa
- Indogreen Group - Indonesia
- SMG Consultants - Indonesia
- TeaM Sual Corporation - Philippines
- Mercator Lines Limited - India
- Heidelberg Cement - Germany
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- Videocon Industries ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Australian Coal Association
- Grasim Industreis Ltd - India
- Australian Commodity Traders Exchange
- Directorate General of MIneral and Coal - Indonesia
- Energy Development Corp, Philippines
- The State Trading Corporation of India Ltd
- Aditya Birla Group - India
- India Bulls Power Limited - India
- ASAPP Information Group - India
- Wilmar Investment Holdings
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Thiess Contractors Indonesia
- Meralco Power Generation, Philippines
- Maheswari Brothers Coal Limited - India
- IHS Mccloskey Coal Group - USA
- Bhoruka Overseas - Indonesia
- Altura Mining Limited, Indonesia
- Iligan Light & Power Inc, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Goldman Sachs - Singapore
- VISA Power Limited - India
- The University of Queensland
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- CIMB Investment Bank - Malaysia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
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- Independent Power Producers Association of India
- Indian Oil Corporation Limited
- Wood Mackenzie - Singapore
- Electricity Authority, New Zealand
- Attock Cement Pakistan Limited
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