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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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Tuesday, 27 March 12
DRY BULK MARKET KEEP RISING FOLLOWING THE SAME TREND OF LAST WEEK - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market kept its upward momentum this week, on the same reasons of those last week. That is, the smaller ship types are still on the ris ...
Monday, 26 March 12
WEEKLY DRY MARKET OVERVIEW - MARIA BERTZELETOU, HELLENIC SHIPPING
The Baltic Dry Index follows its upward incline for fourth consecutive week by rising to more than 900 points, up by 37% from the bottom low in the ...
Monday, 26 March 12
GOLDEN MINES FY11 REVENUE JUMPS 209% - INSIDER STORIES
Insider Stories reported that, coal miner PT Golden Energy Mines Tbk (GEMS), that is controlled by Sinar Mas Group, recorded a 209% jump in revenue ...
Saturday, 24 March 12
AUSTRALIA'S MINERAL TAX : BENCHMARK FOR OTHER COUNTRIES - SUNIL K KUMBHAT
COALspot.com - Natural resources rich counties like Australia , Indonesia , South Africa , Brazil etc are going through a spectacular resources boom ...
Saturday, 24 March 12
THE AVERAGE CHARTER RATES WAS AT CAPESIZE $ 4,546 PER DAY VS SUPRAMAX / $ 10,819 PER DAY - VISTAAR
COALspot.com - The BDI crossed 900 points this week closing at 908 points up by 3.89 pct. All other sectors were up except for cape index whic ...
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- Kohat Cement Company Ltd. - Pakistan
- San Jose City I Power Corp, Philippines
- Meenaskhi Energy Private Limited - India
- Petron Corporation, Philippines
- Anglo American - United Kingdom
- Vijayanagar Sugar Pvt Ltd - India
- Goldman Sachs - Singapore
- Uttam Galva Steels Limited - India
- Siam City Cement PLC, Thailand
- PNOC Exploration Corporation - Philippines
- The Treasury - Australian Government
- Energy Development Corp, Philippines
- Port Waratah Coal Services - Australia
- Miang Besar Coal Terminal - Indonesia
- Samtan Co., Ltd - South Korea
- Riau Bara Harum - Indonesia
- MS Steel International - UAE
- Billiton Holdings Pty Ltd - Australia
- International Coal Ventures Pvt Ltd - India
- Electricity Authority, New Zealand
- Posco Energy - South Korea
- Toyota Tsusho Corporation, Japan
- Banpu Public Company Limited - Thailand
- Eastern Energy - Thailand
- Indonesian Coal Mining Association
- Sical Logistics Limited - India
- Formosa Plastics Group - Taiwan
- Bukit Baiduri Energy - Indonesia
- GAC Shipping (India) Pvt Ltd
- PowerSource Philippines DevCo
- Makarim & Taira - Indonesia
- Price Waterhouse Coopers - Russia
- Latin American Coal - Colombia
- Semirara Mining and Power Corporation, Philippines
- Orica Mining Services - Indonesia
- Gujarat Sidhee Cement - India
- Deloitte Consulting - India
- India Bulls Power Limited - India
- Rio Tinto Coal - Australia
- Altura Mining Limited, Indonesia
- Vizag Seaport Private Limited - India
- Gujarat Electricity Regulatory Commission - India
- Tata Chemicals Ltd - India
- Central Java Power - Indonesia
- Georgia Ports Authority, United States
- Romanian Commodities Exchange
- Africa Commodities Group - South Africa
- Attock Cement Pakistan Limited
- Interocean Group of Companies - India
- Kideco Jaya Agung - Indonesia
- Globalindo Alam Lestari - Indonesia
- Energy Link Ltd, New Zealand
- Independent Power Producers Association of India
- Bahari Cakrawala Sebuku - Indonesia
- GVK Power & Infra Limited - India
- Australian Coal Association
- Kaltim Prima Coal - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- CNBM International Corporation - China
- South Luzon Thermal Energy Corporation
- GN Power Mariveles Coal Plant, Philippines
- Thiess Contractors Indonesia
- Bukit Makmur.PT - Indonesia
- Star Paper Mills Limited - India
- GMR Energy Limited - India
- Leighton Contractors Pty Ltd - Australia
- TeaM Sual Corporation - Philippines
- Sarangani Energy Corporation, Philippines
- Lanco Infratech Ltd - India
- Karaikal Port Pvt Ltd - India
- ICICI Bank Limited - India
- Sindya Power Generating Company Private Ltd
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indika Energy - Indonesia
- Minerals Council of Australia
- New Zealand Coal & Carbon
- Carbofer General Trading SA - India
- Larsen & Toubro Limited - India
- Semirara Mining Corp, Philippines
- Parliament of New Zealand
- Australian Commodity Traders Exchange
- Bangladesh Power Developement Board
- Holcim Trading Pte Ltd - Singapore
- Power Finance Corporation Ltd., India
- Directorate Of Revenue Intelligence - India
- Coastal Gujarat Power Limited - India
- Economic Council, Georgia
- Cigading International Bulk Terminal - Indonesia
- Indogreen Group - Indonesia
- Oldendorff Carriers - Singapore
- PetroVietnam Power Coal Import and Supply Company
- Kepco SPC Power Corporation, Philippines
- Bharathi Cement Corporation - India
- Binh Thuan Hamico - Vietnam
- Maharashtra Electricity Regulatory Commission - India
- Chettinad Cement Corporation Ltd - India
- Planning Commission, India
- SMC Global Power, Philippines
- Mercator Lines Limited - India
- Madhucon Powers Ltd - India
- Edison Trading Spa - Italy
- ASAPP Information Group - India
- Bhoruka Overseas - Indonesia
- Aditya Birla Group - India
- Wood Mackenzie - Singapore
- Offshore Bulk Terminal Pte Ltd, Singapore
- Timah Investasi Mineral - Indoneisa
- Rashtriya Ispat Nigam Limited - India
- Meralco Power Generation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Xindia Steels Limited - India
- Ministry of Transport, Egypt
- Bhatia International Limited - India
- Baramulti Group, Indonesia
- VISA Power Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- McConnell Dowell - Australia
- Metalloyd Limited - United Kingdom
- Orica Australia Pty. Ltd.
- Ind-Barath Power Infra Limited - India
- Vedanta Resources Plc - India
- Coal and Oil Company - UAE
- Jorong Barutama Greston.PT - Indonesia
- Ministry of Finance - Indonesia
- Standard Chartered Bank - UAE
- The University of Queensland
- Trasteel International SA, Italy
- Chamber of Mines of South Africa
- Jaiprakash Power Ventures ltd
- Kapuas Tunggal Persada - Indonesia
- Global Business Power Corporation, Philippines
- Singapore Mercantile Exchange
- The State Trading Corporation of India Ltd
- Bayan Resources Tbk. - Indonesia
- Siam City Cement - Thailand
- Marubeni Corporation - India
- Tamil Nadu electricity Board
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Simpson Spence & Young - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Heidelberg Cement - Germany
- Mjunction Services Limited - India
- Straits Asia Resources Limited - Singapore
- Gujarat Mineral Development Corp Ltd - India
- Eastern Coal Council - USA
- CIMB Investment Bank - Malaysia
- Agrawal Coal Company - India
- SN Aboitiz Power Inc, Philippines
- Merrill Lynch Commodities Europe
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Iligan Light & Power Inc, Philippines
- Renaissance Capital - South Africa
- IEA Clean Coal Centre - UK
- Sinarmas Energy and Mining - Indonesia
- Grasim Industreis Ltd - India
- PTC India Limited - India
- Wilmar Investment Holdings
- Global Green Power PLC Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Borneo Indobara - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- AsiaOL BioFuels Corp., Philippines
- Bhushan Steel Limited - India
- Jindal Steel & Power Ltd - India
- Essar Steel Hazira Ltd - India
- Barasentosa Lestari - Indonesia
- Manunggal Multi Energi - Indonesia
- Therma Luzon, Inc, Philippines
- Krishnapatnam Port Company Ltd. - India
- Alfred C Toepfer International GmbH - Germany
- Dalmia Cement Bharat India
- European Bulk Services B.V. - Netherlands
- Ambuja Cements Ltd - India
- Mercuria Energy - Indonesia
- White Energy Company Limited
- Directorate General of MIneral and Coal - Indonesia
- Kartika Selabumi Mining - Indonesia
- Medco Energi Mining Internasional
- Pendopo Energi Batubara - Indonesia
- Kumho Petrochemical, South Korea
- Aboitiz Power Corporation - Philippines
- Intertek Mineral Services - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Savvy Resources Ltd - HongKong
- Parry Sugars Refinery, India
- Videocon Industries ltd - India
- Central Electricity Authority - India
- Cement Manufacturers Association - India
- Coalindo Energy - Indonesia
- LBH Netherlands Bv - Netherlands
- Global Coal Blending Company Limited - Australia
- London Commodity Brokers - England
- Indo Tambangraya Megah - Indonesia
- Thai Mozambique Logistica
- Kobexindo Tractors - Indoneisa
- IHS Mccloskey Coal Group - USA
- Sojitz Corporation - Japan
- Commonwealth Bank - Australia
- Kalimantan Lumbung Energi - Indonesia
- Indian Energy Exchange, India
- Asmin Koalindo Tuhup - Indonesia
- Electricity Generating Authority of Thailand
- Maheswari Brothers Coal Limited - India
- Ceylon Electricity Board - Sri Lanka
- Ministry of Mines - Canada
- Bulk Trading Sa - Switzerland
- Sakthi Sugars Limited - India
- Malabar Cements Ltd - India
- Mintek Dendrill Indonesia
- OPG Power Generation Pvt Ltd - India
- Salva Resources Pvt Ltd - India
- Antam Resourcindo - Indonesia
- SMG Consultants - Indonesia
- Indian Oil Corporation Limited
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