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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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Thursday, 22 March 12
ECI-CHINA HANDY RATES ARE AROUND US$ 8000 - FEARNLEYS
Handy
Another positive trend was seen last week with more cargoes entering the market. Skaw-Passero/US Gulf climbed slowly up to USD 3700, while US ...
Thursday, 22 March 12
DRY BULK MARKET KEEPS SURGING, CAPESIZES FALLING - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
In what seems to be an establishing pattern, the dry bulk market has kept its upward momentum, edging closer to the 900 point-mark, but the larger s ...
Wednesday, 21 March 12
BUMA HAS PRODUCED 2.3 MILLION TONS OF COAL IN FEBRUARY 2012
COALspot.com - PT. Delta Dunia Makmur's overburden removal in February 2012 has reached totaled 23.8 million bcm (+2.4% YoY) while coal production ...
Tuesday, 20 March 12
SMALLER DRY BULK VESSELS STILL LEADING DRY BULK MARKET TO HIGHER GROUND - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has been growing during the past couple of weeks, but contrary to the usual practice, it’s not the larger Capesizes which ...
Monday, 19 March 12
WEEKLY DRY MARKET OVERVIEW: SMALLER VESSELS LEAD RATES HIGHER - MARIA BERTZELETOU, HELLENIC SHIPPING
The upward trend of the Baltic Dry Index persists strong from the end of February, spurred from the supramax market that offsets the weakness in the ...
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- Mercator Lines Limited - India
- Thai Mozambique Logistica
- Singapore Mercantile Exchange
- Kalimantan Lumbung Energi - Indonesia
- Central Java Power - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Riau Bara Harum - Indonesia
- SN Aboitiz Power Inc, Philippines
- Aditya Birla Group - India
- Metalloyd Limited - United Kingdom
- Orica Mining Services - Indonesia
- Deloitte Consulting - India
- Petron Corporation, Philippines
- Meralco Power Generation, Philippines
- Chettinad Cement Corporation Ltd - India
- Mjunction Services Limited - India
- Makarim & Taira - Indonesia
- GAC Shipping (India) Pvt Ltd
- Coalindo Energy - Indonesia
- Intertek Mineral Services - Indonesia
- Jindal Steel & Power Ltd - India
- Lanco Infratech Ltd - India
- The University of Queensland
- Uttam Galva Steels Limited - India
- Bayan Resources Tbk. - Indonesia
- Sree Jayajothi Cements Limited - India
- Simpson Spence & Young - Indonesia
- Sical Logistics Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Global Coal Blending Company Limited - Australia
- Pendopo Energi Batubara - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Oldendorff Carriers - Singapore
- Mercuria Energy - Indonesia
- Timah Investasi Mineral - Indoneisa
- Karbindo Abesyapradhi - Indoneisa
- Carbofer General Trading SA - India
- Wood Mackenzie - Singapore
- VISA Power Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bharathi Cement Corporation - India
- Banpu Public Company Limited - Thailand
- SMG Consultants - Indonesia
- Parry Sugars Refinery, India
- Grasim Industreis Ltd - India
- Bulk Trading Sa - Switzerland
- Eastern Coal Council - USA
- Coal and Oil Company - UAE
- South Luzon Thermal Energy Corporation
- Kumho Petrochemical, South Korea
- The State Trading Corporation of India Ltd
- Meenaskhi Energy Private Limited - India
- Chamber of Mines of South Africa
- Bhatia International Limited - India
- Semirara Mining Corp, Philippines
- Electricity Generating Authority of Thailand
- Economic Council, Georgia
- ASAPP Information Group - India
- Energy Development Corp, Philippines
- Indian Energy Exchange, India
- Antam Resourcindo - Indonesia
- McConnell Dowell - Australia
- Jorong Barutama Greston.PT - Indonesia
- Tata Chemicals Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Goldman Sachs - Singapore
- Indian Oil Corporation Limited
- Therma Luzon, Inc, Philippines
- India Bulls Power Limited - India
- Ministry of Finance - Indonesia
- Energy Link Ltd, New Zealand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sakthi Sugars Limited - India
- Xindia Steels Limited - India
- Salva Resources Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- Baramulti Group, Indonesia
- Thiess Contractors Indonesia
- OPG Power Generation Pvt Ltd - India
- PTC India Limited - India
- Indogreen Group - Indonesia
- Rio Tinto Coal - Australia
- Global Business Power Corporation, Philippines
- Ambuja Cements Ltd - India
- Kartika Selabumi Mining - Indonesia
- Larsen & Toubro Limited - India
- Borneo Indobara - Indonesia
- Madhucon Powers Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- PetroVietnam Power Coal Import and Supply Company
- Sindya Power Generating Company Private Ltd
- Petrochimia International Co. Ltd.- Taiwan
- Attock Cement Pakistan Limited
- Coastal Gujarat Power Limited - India
- Minerals Council of Australia
- Global Green Power PLC Corporation, Philippines
- Altura Mining Limited, Indonesia
- Kideco Jaya Agung - Indonesia
- Australian Coal Association
- London Commodity Brokers - England
- Karaikal Port Pvt Ltd - India
- Malabar Cements Ltd - India
- Vizag Seaport Private Limited - India
- Gujarat Sidhee Cement - India
- Eastern Energy - Thailand
- Orica Australia Pty. Ltd.
- Latin American Coal - Colombia
- Sinarmas Energy and Mining - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Siam City Cement PLC, Thailand
- Barasentosa Lestari - Indonesia
- Marubeni Corporation - India
- Jaiprakash Power Ventures ltd
- Indonesian Coal Mining Association
- Kohat Cement Company Ltd. - Pakistan
- Kobexindo Tractors - Indoneisa
- Indo Tambangraya Megah - Indonesia
- Renaissance Capital - South Africa
- Ministry of Transport, Egypt
- GVK Power & Infra Limited - India
- Mintek Dendrill Indonesia
- Ind-Barath Power Infra Limited - India
- SMC Global Power, Philippines
- Tamil Nadu electricity Board
- Neyveli Lignite Corporation Ltd, - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- White Energy Company Limited
- Maheswari Brothers Coal Limited - India
- Vedanta Resources Plc - India
- Electricity Authority, New Zealand
- Rashtriya Ispat Nigam Limited - India
- Billiton Holdings Pty Ltd - Australia
- Australian Commodity Traders Exchange
- Globalindo Alam Lestari - Indonesia
- Agrawal Coal Company - India
- International Coal Ventures Pvt Ltd - India
- Port Waratah Coal Services - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Planning Commission, India
- San Jose City I Power Corp, Philippines
- Manunggal Multi Energi - Indonesia
- Bukit Makmur.PT - Indonesia
- Price Waterhouse Coopers - Russia
- Cement Manufacturers Association - India
- Sojitz Corporation - Japan
- Holcim Trading Pte Ltd - Singapore
- Miang Besar Coal Terminal - Indonesia
- Bhoruka Overseas - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Samtan Co., Ltd - South Korea
- The Treasury - Australian Government
- Power Finance Corporation Ltd., India
- Toyota Tsusho Corporation, Japan
- Georgia Ports Authority, United States
- TNB Fuel Sdn Bhd - Malaysia
- Bhushan Steel Limited - India
- Parliament of New Zealand
- Iligan Light & Power Inc, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Binh Thuan Hamico - Vietnam
- Anglo American - United Kingdom
- Wilmar Investment Holdings
- Kapuas Tunggal Persada - Indonesia
- Interocean Group of Companies - India
- Ministry of Mines - Canada
- Kaltim Prima Coal - Indonesia
- Independent Power Producers Association of India
- Central Electricity Authority - India
- Kepco SPC Power Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Standard Chartered Bank - UAE
- Leighton Contractors Pty Ltd - Australia
- Essar Steel Hazira Ltd - India
- LBH Netherlands Bv - Netherlands
- Videocon Industries ltd - India
- MS Steel International - UAE
- Bahari Cakrawala Sebuku - Indonesia
- GMR Energy Limited - India
- Siam City Cement - Thailand
- Bangladesh Power Developement Board
- Gujarat Electricity Regulatory Commission - India
- Cigading International Bulk Terminal - Indonesia
- Edison Trading Spa - Italy
- Indika Energy - Indonesia
- Merrill Lynch Commodities Europe
- Star Paper Mills Limited - India
- CNBM International Corporation - China
- Trasteel International SA, Italy
- PNOC Exploration Corporation - Philippines
- New Zealand Coal & Carbon
- IHS Mccloskey Coal Group - USA
- Commonwealth Bank - Australia
- Semirara Mining and Power Corporation, Philippines
- Posco Energy - South Korea
- Savvy Resources Ltd - HongKong
- Straits Asia Resources Limited - Singapore
- Romanian Commodities Exchange
- ICICI Bank Limited - India
- TeaM Sual Corporation - Philippines
- European Bulk Services B.V. - Netherlands
- Medco Energi Mining Internasional
- Africa Commodities Group - South Africa
- Dalmia Cement Bharat India
- Bukit Baiduri Energy - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- CIMB Investment Bank - Malaysia
- Formosa Plastics Group - Taiwan
- Sarangani Energy Corporation, Philippines
- Heidelberg Cement - Germany
- PowerSource Philippines DevCo
- Directorate Of Revenue Intelligence - India
- IEA Clean Coal Centre - UK
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