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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, 06 April 12
DRY BULK MARKET SWIFT TO HALT FALL ON RENEWED DEMAND FOR CAPESIZES - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk managed to put a stop to the recent falls, which came as a result of a lacklustre demand for smaller vessel sizes. Although this trend ...
Thursday, 05 April 12
COAL EXPORT TAX: MATTER OF CONCERN FOR INDIA - SUNIL K KUMBHAT
COALspot.com - Since the issuance of Indonesian Mining law in 2009, miners have increased their activities in exploring , ex ...
Thursday, 05 April 12
AKR COAL FIRST EXPORT SHIPMENT OF COAL SEABORNE
PT Anugrah Karya Raya (AKR Coal) subsidiary of PT AKR Corporindo Tbk., Indonesia’s leading integrated supply chain solutions provider and larg ...
Thursday, 05 April 12
DRY BULK MARKET STALLS AS TREND IS REVERSED - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has halted its month-long rally, with the BDI (Baltic Dry Index) retreating yesterday for a second consecutive session. Industry ...
Wednesday, 04 April 12
OIL MAY JUMP TO $150PB IF IRAN ATTACKED: EXPERT - KUNA / HELLENIC SHIPPING
Prices of oil will not drop below level of $100 per barrel and may jump to $150 pb in the coming two months, according to the prominent Kuwaiti expe ...
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- PetroVietnam Power Coal Import and Supply Company
- Energy Development Corp, Philippines
- Central Electricity Authority - India
- Bahari Cakrawala Sebuku - Indonesia
- Bhatia International Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Jaiprakash Power Ventures ltd
- Central Java Power - Indonesia
- Power Finance Corporation Ltd., India
- White Energy Company Limited
- CNBM International Corporation - China
- Barasentosa Lestari - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Billiton Holdings Pty Ltd - Australia
- PNOC Exploration Corporation - Philippines
- Posco Energy - South Korea
- VISA Power Limited - India
- The University of Queensland
- Oldendorff Carriers - Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Georgia Ports Authority, United States
- Holcim Trading Pte Ltd - Singapore
- Siam City Cement - Thailand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Star Paper Mills Limited - India
- GVK Power & Infra Limited - India
- Eastern Coal Council - USA
- Miang Besar Coal Terminal - Indonesia
- Larsen & Toubro Limited - India
- Savvy Resources Ltd - HongKong
- Parry Sugars Refinery, India
- Eastern Energy - Thailand
- Mercator Lines Limited - India
- Planning Commission, India
- Vedanta Resources Plc - India
- Global Green Power PLC Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- Cement Manufacturers Association - India
- Chamber of Mines of South Africa
- Bhushan Steel Limited - India
- Antam Resourcindo - Indonesia
- Deloitte Consulting - India
- Gujarat Mineral Development Corp Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Therma Luzon, Inc, Philippines
- Kobexindo Tractors - Indoneisa
- Economic Council, Georgia
- Sarangani Energy Corporation, Philippines
- Romanian Commodities Exchange
- Standard Chartered Bank - UAE
- Banpu Public Company Limited - Thailand
- Singapore Mercantile Exchange
- Vizag Seaport Private Limited - India
- Thiess Contractors Indonesia
- Kideco Jaya Agung - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- SMG Consultants - Indonesia
- Rio Tinto Coal - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- South Luzon Thermal Energy Corporation
- Mjunction Services Limited - India
- Rashtriya Ispat Nigam Limited - India
- Agrawal Coal Company - India
- Gujarat Electricity Regulatory Commission - India
- IHS Mccloskey Coal Group - USA
- Intertek Mineral Services - Indonesia
- Globalindo Alam Lestari - Indonesia
- Lanco Infratech Ltd - India
- Orica Australia Pty. Ltd.
- Binh Thuan Hamico - Vietnam
- GAC Shipping (India) Pvt Ltd
- GMR Energy Limited - India
- SN Aboitiz Power Inc, Philippines
- Minerals Council of Australia
- ICICI Bank Limited - India
- Electricity Generating Authority of Thailand
- Thai Mozambique Logistica
- Semirara Mining and Power Corporation, Philippines
- Mercuria Energy - Indonesia
- Edison Trading Spa - Italy
- Krishnapatnam Port Company Ltd. - India
- Orica Mining Services - Indonesia
- Essar Steel Hazira Ltd - India
- Kaltim Prima Coal - Indonesia
- Bangladesh Power Developement Board
- TeaM Sual Corporation - Philippines
- Kalimantan Lumbung Energi - Indonesia
- Simpson Spence & Young - Indonesia
- Price Waterhouse Coopers - Russia
- Renaissance Capital - South Africa
- Ministry of Transport, Egypt
- Marubeni Corporation - India
- Coalindo Energy - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Indika Energy - Indonesia
- Commonwealth Bank - Australia
- European Bulk Services B.V. - Netherlands
- Merrill Lynch Commodities Europe
- Petron Corporation, Philippines
- Trasteel International SA, Italy
- Neyveli Lignite Corporation Ltd, - India
- AsiaOL BioFuels Corp., Philippines
- Maheswari Brothers Coal Limited - India
- Independent Power Producers Association of India
- Global Coal Blending Company Limited - Australia
- ASAPP Information Group - India
- Timah Investasi Mineral - Indoneisa
- Baramulti Group, Indonesia
- Port Waratah Coal Services - Australia
- Latin American Coal - Colombia
- Jorong Barutama Greston.PT - Indonesia
- Madhucon Powers Ltd - India
- PTC India Limited - India
- Gujarat Sidhee Cement - India
- Ceylon Electricity Board - Sri Lanka
- Tata Chemicals Ltd - India
- Jindal Steel & Power Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Indonesian Coal Mining Association
- Asmin Koalindo Tuhup - Indonesia
- Africa Commodities Group - South Africa
- Indo Tambangraya Megah - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Australian Coal Association
- Directorate General of MIneral and Coal - Indonesia
- Tamil Nadu electricity Board
- Dalmia Cement Bharat India
- Xindia Steels Limited - India
- Goldman Sachs - Singapore
- Anglo American - United Kingdom
- GN Power Mariveles Coal Plant, Philippines
- Bayan Resources Tbk. - Indonesia
- Electricity Authority, New Zealand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Interocean Group of Companies - India
- Bulk Trading Sa - Switzerland
- Chettinad Cement Corporation Ltd - India
- Indian Oil Corporation Limited
- Heidelberg Cement - Germany
- Carbofer General Trading SA - India
- Coastal Gujarat Power Limited - India
- Sinarmas Energy and Mining - Indonesia
- LBH Netherlands Bv - Netherlands
- Directorate Of Revenue Intelligence - India
- Vijayanagar Sugar Pvt Ltd - India
- Malabar Cements Ltd - India
- Uttam Galva Steels Limited - India
- Manunggal Multi Energi - Indonesia
- PowerSource Philippines DevCo
- San Jose City I Power Corp, Philippines
- Metalloyd Limited - United Kingdom
- Mintek Dendrill Indonesia
- Videocon Industries ltd - India
- Kepco SPC Power Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- Parliament of New Zealand
- CIMB Investment Bank - Malaysia
- Bukit Makmur.PT - Indonesia
- Meralco Power Generation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Aboitiz Power Corporation - Philippines
- Coal and Oil Company - UAE
- MS Steel International - UAE
- Bharathi Cement Corporation - India
- Ambuja Cements Ltd - India
- Meenaskhi Energy Private Limited - India
- Wood Mackenzie - Singapore
- Karaikal Port Pvt Ltd - India
- SMC Global Power, Philippines
- Medco Energi Mining Internasional
- Samtan Co., Ltd - South Korea
- Grasim Industreis Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Ministry of Finance - Indonesia
- Sree Jayajothi Cements Limited - India
- Sindya Power Generating Company Private Ltd
- Indian Energy Exchange, India
- India Bulls Power Limited - India
- London Commodity Brokers - England
- Aditya Birla Group - India
- Makarim & Taira - Indonesia
- Sakthi Sugars Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Wilmar Investment Holdings
- Bukit Baiduri Energy - Indonesia
- Salva Resources Pvt Ltd - India
- Kumho Petrochemical, South Korea
- Bhoruka Overseas - Indonesia
- Formosa Plastics Group - Taiwan
- Straits Asia Resources Limited - Singapore
- IEA Clean Coal Centre - UK
- The State Trading Corporation of India Ltd
- Altura Mining Limited, Indonesia
- Siam City Cement PLC, Thailand
- Kartika Selabumi Mining - Indonesia
- Ministry of Mines - Canada
- Riau Bara Harum - Indonesia
- New Zealand Coal & Carbon
- Indogreen Group - Indonesia
- Attock Cement Pakistan Limited
- Cigading International Bulk Terminal - Indonesia
- The Treasury - Australian Government
- Toyota Tsusho Corporation, Japan
- Pendopo Energi Batubara - Indonesia
- Sical Logistics Limited - India
- Global Business Power Corporation, Philippines
- McConnell Dowell - Australia
- Energy Link Ltd, New Zealand
- Iligan Light & Power Inc, Philippines
- Ind-Barath Power Infra Limited - India
- Australian Commodity Traders Exchange
- Semirara Mining Corp, Philippines
- Leighton Contractors Pty Ltd - Australia
- Borneo Indobara - Indonesia
- Sojitz Corporation - Japan
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