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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, 04 April 12
CHURCHILL MINING TO ACCELERATE INTERNATIONAL ARBITRATION AGAINST INDONESIA
Churchill Mining plc (AIM: CHL), advises that notations on the Indonesian Supreme Court's register of cases shows the Supreme Court has rejected th ...
Monday, 02 April 12
BANGLADESH EYEING INDONESIA FOR COAL
COALspot.com - The high level executives of Center for Environmental and Geographic Information Services (CEGIS) of Bangladesh is visiting Ind ...
Monday, 02 April 12
WEEKLY DRY MARKET OVERVIEW - MARIA BERTZELETOU, HELLENIC SHIPPING
The first quarter of the New Year ended with the BDI standing 42% above from the 26 years’ bottom low of 662 points on February 1st, and a pos ...
Saturday, 31 March 12
THE BDI CONTINUED TO MOVE UPWARD - VISTAAR
COALspot.com - The BDI continued to move upward and rose by 2.86 pct closing at 934 points.
The cape index was up by 3.14 pct closing at 1,412 po ...
Saturday, 31 March 12
SRI LANKA IMPORTS 152,555 MT OF INDONESIAN COAL IN FEBRUARY
COALspot.com: Indonesia, the world largest coal exporter, shipped 27.126* million tons of coal in February 2012, compared to 28.21* million to ...
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- Globalindo Alam Lestari - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Straits Asia Resources Limited - Singapore
- Sinarmas Energy and Mining - Indonesia
- SN Aboitiz Power Inc, Philippines
- Agrawal Coal Company - India
- Ambuja Cements Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Central Java Power - Indonesia
- Larsen & Toubro Limited - India
- Africa Commodities Group - South Africa
- Star Paper Mills Limited - India
- Bukit Baiduri Energy - Indonesia
- GAC Shipping (India) Pvt Ltd
- Timah Investasi Mineral - Indoneisa
- Manunggal Multi Energi - Indonesia
- Standard Chartered Bank - UAE
- Orica Mining Services - Indonesia
- Altura Mining Limited, Indonesia
- Xindia Steels Limited - India
- Medco Energi Mining Internasional
- Semirara Mining Corp, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Ministry of Transport, Egypt
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- Renaissance Capital - South Africa
- Bank of Tokyo Mitsubishi UFJ Ltd
- ASAPP Information Group - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
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- Petron Corporation, Philippines
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- Gujarat Mineral Development Corp Ltd - India
- Thiess Contractors Indonesia
- Economic Council, Georgia
- Indian Oil Corporation Limited
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- Bukit Makmur.PT - Indonesia
- Central Electricity Authority - India
- Antam Resourcindo - Indonesia
- LBH Netherlands Bv - Netherlands
- Ministry of Mines - Canada
- The Treasury - Australian Government
- Mintek Dendrill Indonesia
- Romanian Commodities Exchange
- Bhushan Steel Limited - India
- Mjunction Services Limited - India
- Coastal Gujarat Power Limited - India
- Attock Cement Pakistan Limited
- Bangladesh Power Developement Board
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- Bhatia International Limited - India
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- Metalloyd Limited - United Kingdom
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- Latin American Coal - Colombia
- Australian Commodity Traders Exchange
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- Samtan Co., Ltd - South Korea
- Aboitiz Power Corporation - Philippines
- Wood Mackenzie - Singapore
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- Power Finance Corporation Ltd., India
- Energy Development Corp, Philippines
- Indika Energy - Indonesia
- Aditya Birla Group - India
- Iligan Light & Power Inc, Philippines
- Eastern Coal Council - USA
- Ind-Barath Power Infra Limited - India
- Planning Commission, India
- Formosa Plastics Group - Taiwan
- Kohat Cement Company Ltd. - Pakistan
- Marubeni Corporation - India
- Cement Manufacturers Association - India
- Carbofer General Trading SA - India
- Electricity Generating Authority of Thailand
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- Kobexindo Tractors - Indoneisa
- Semirara Mining and Power Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Malabar Cements Ltd - India
- Commonwealth Bank - Australia
- Chamber of Mines of South Africa
- Makarim & Taira - Indonesia
- India Bulls Power Limited - India
- Kapuas Tunggal Persada - Indonesia
- Australian Coal Association
- White Energy Company Limited
- IEA Clean Coal Centre - UK
- Ministry of Finance - Indonesia
- Deloitte Consulting - India
- VISA Power Limited - India
- Billiton Holdings Pty Ltd - Australia
- London Commodity Brokers - England
- Bulk Trading Sa - Switzerland
- Port Waratah Coal Services - Australia
- Alfred C Toepfer International GmbH - Germany
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- CNBM International Corporation - China
- Trasteel International SA, Italy
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- ICICI Bank Limited - India
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- Orica Australia Pty. Ltd.
- Bhoruka Overseas - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Riau Bara Harum - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Directorate Of Revenue Intelligence - India
- PowerSource Philippines DevCo
- Pendopo Energi Batubara - Indonesia
- Karaikal Port Pvt Ltd - India
- Oldendorff Carriers - Singapore
- Karbindo Abesyapradhi - Indoneisa
- Parliament of New Zealand
- Price Waterhouse Coopers - Russia
- South Luzon Thermal Energy Corporation
- Rio Tinto Coal - Australia
- Tamil Nadu electricity Board
- Barasentosa Lestari - Indonesia
- Mercuria Energy - Indonesia
- PNOC Exploration Corporation - Philippines
- Energy Link Ltd, New Zealand
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- Heidelberg Cement - Germany
- Minerals Council of Australia
- Jindal Steel & Power Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Georgia Ports Authority, United States
- Intertek Mineral Services - Indonesia
- McConnell Dowell - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Kumho Petrochemical, South Korea
- Goldman Sachs - Singapore
- GMR Energy Limited - India
- Siam City Cement - Thailand
- Anglo American - United Kingdom
- Sojitz Corporation - Japan
- Gujarat Electricity Regulatory Commission - India
- Edison Trading Spa - Italy
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- TeaM Sual Corporation - Philippines
- Mercator Lines Limited - India
- Sindya Power Generating Company Private Ltd
- Jorong Barutama Greston.PT - Indonesia
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- Meralco Power Generation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- GVK Power & Infra Limited - India
- International Coal Ventures Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- Coal and Oil Company - UAE
- Siam City Cement PLC, Thailand
- Leighton Contractors Pty Ltd - Australia
- Ceylon Electricity Board - Sri Lanka
- Indonesian Coal Mining Association
- Thai Mozambique Logistica
- Coalindo Energy - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- IHS Mccloskey Coal Group - USA
- European Bulk Services B.V. - Netherlands
- Global Coal Blending Company Limited - Australia
- Sarangani Energy Corporation, Philippines
- Bharathi Cement Corporation - India
- Grasim Industreis Ltd - India
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- Indogreen Group - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Binh Thuan Hamico - Vietnam
- Dalmia Cement Bharat India
- Uttam Galva Steels Limited - India
- San Jose City I Power Corp, Philippines
- The State Trading Corporation of India Ltd
- Savvy Resources Ltd - HongKong
- Merrill Lynch Commodities Europe
- Sree Jayajothi Cements Limited - India
- Chettinad Cement Corporation Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Asmin Koalindo Tuhup - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- CIMB Investment Bank - Malaysia
- Salva Resources Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- MS Steel International - UAE
- Indian Energy Exchange, India
- Madhucon Powers Ltd - India
- Posco Energy - South Korea
- Global Business Power Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Videocon Industries ltd - India
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- Jaiprakash Power Ventures ltd
- Eastern Energy - Thailand
- The University of Queensland
- Rashtriya Ispat Nigam Limited - India
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- Baramulti Group, Indonesia
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