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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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Sunday, 18 March 12
BUKIT ASAM'S NET PROFIT IN 2011 ROSE 54% TO US$ 339.56 MILLION
COALspot.com - Company revenue for the period January - December 2011 amounting to Rp 10.6 trillion (approximately US$ 1,164,835,164.84) recorded an ...
Saturday, 17 March 12
THE FREIGHT RATES FOR INDONESIA TO INDIA REMAINED FIRM - VISTAAR SINGAPORE
COALspot.com - The market continued to be firm and all segments were up except for Cape Index which was down by 2.46 pct closing at 1,466 points.
...
Saturday, 17 March 12
INDIAN GOVT FINALIZES DRAFT BILL FOR COAL REGULATOR - PTI
The coal sector would soon get a regulator as the government has finalised a draft bill for the purpose, Coal Minister Sriprakash Jaiswal said Wedne ...
Friday, 16 March 12
THE PACIFIC MARKET IS FIRMING UP - FEARNLEYS AS
Handy
A slightly positive trend was seen last week in the Atlantic. Skaw-Passero deliveries fixed around USD 3k to US Gulf, while US Gulf deliveres ...
Thursday, 15 March 12
RAINS AVERAGE SELLING PRICE OF COAL WENT UP BY 22 % IN 2011
COALspot.com - PT. Resource Alam Indonesia Tbk, an Indonesian CCoW (3rd Generation) holder reported Wednesday a 171 percent increase in net profits ...
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- Bahari Cakrawala Sebuku - Indonesia
- Ministry of Transport, Egypt
- Indonesian Coal Mining Association
- Interocean Group of Companies - India
- Eastern Coal Council - USA
- AsiaOL BioFuels Corp., Philippines
- The State Trading Corporation of India Ltd
- Ministry of Mines - Canada
- Manunggal Multi Energi - Indonesia
- Borneo Indobara - Indonesia
- SN Aboitiz Power Inc, Philippines
- Timah Investasi Mineral - Indoneisa
- Central Java Power - Indonesia
- ICICI Bank Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- IEA Clean Coal Centre - UK
- Vedanta Resources Plc - India
- Romanian Commodities Exchange
- Singapore Mercantile Exchange
- Heidelberg Cement - Germany
- GVK Power & Infra Limited - India
- Chamber of Mines of South Africa
- Metalloyd Limited - United Kingdom
- PNOC Exploration Corporation - Philippines
- London Commodity Brokers - England
- Carbofer General Trading SA - India
- Gujarat Mineral Development Corp Ltd - India
- Bukit Makmur.PT - Indonesia
- Jindal Steel & Power Ltd - India
- Price Waterhouse Coopers - Russia
- Mintek Dendrill Indonesia
- Power Finance Corporation Ltd., India
- Energy Link Ltd, New Zealand
- GAC Shipping (India) Pvt Ltd
- Karaikal Port Pvt Ltd - India
- Indogreen Group - Indonesia
- Binh Thuan Hamico - Vietnam
- The University of Queensland
- Central Electricity Authority - India
- Madhucon Powers Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Petron Corporation, Philippines
- Xindia Steels Limited - India
- Straits Asia Resources Limited - Singapore
- Global Coal Blending Company Limited - Australia
- Siam City Cement - Thailand
- Bulk Trading Sa - Switzerland
- Economic Council, Georgia
- Rio Tinto Coal - Australia
- Coalindo Energy - Indonesia
- Goldman Sachs - Singapore
- Directorate General of MIneral and Coal - Indonesia
- Thiess Contractors Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Marubeni Corporation - India
- Altura Mining Limited, Indonesia
- Ministry of Finance - Indonesia
- Essar Steel Hazira Ltd - India
- Sarangani Energy Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Dalmia Cement Bharat India
- Port Waratah Coal Services - Australia
- Sical Logistics Limited - India
- Orica Australia Pty. Ltd.
- Jorong Barutama Greston.PT - Indonesia
- Indo Tambangraya Megah - Indonesia
- Aditya Birla Group - India
- Directorate Of Revenue Intelligence - India
- European Bulk Services B.V. - Netherlands
- Mercator Lines Limited - India
- Edison Trading Spa - Italy
- LBH Netherlands Bv - Netherlands
- Bhushan Steel Limited - India
- Cement Manufacturers Association - India
- Kideco Jaya Agung - Indonesia
- Kobexindo Tractors - Indoneisa
- Formosa Plastics Group - Taiwan
- Larsen & Toubro Limited - India
- Parliament of New Zealand
- VISA Power Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Australian Coal Association
- Alfred C Toepfer International GmbH - Germany
- Makarim & Taira - Indonesia
- Antam Resourcindo - Indonesia
- Bharathi Cement Corporation - India
- Kalimantan Lumbung Energi - Indonesia
- Indian Oil Corporation Limited
- GMR Energy Limited - India
- Planning Commission, India
- Siam City Cement PLC, Thailand
- Malabar Cements Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Sakthi Sugars Limited - India
- Ind-Barath Power Infra Limited - India
- Meralco Power Generation, Philippines
- Agrawal Coal Company - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Aboitiz Power Corporation - Philippines
- Oldendorff Carriers - Singapore
- Billiton Holdings Pty Ltd - Australia
- Krishnapatnam Port Company Ltd. - India
- Barasentosa Lestari - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- PowerSource Philippines DevCo
- Minerals Council of Australia
- Indika Energy - Indonesia
- Kepco SPC Power Corporation, Philippines
- White Energy Company Limited
- Grasim Industreis Ltd - India
- Uttam Galva Steels Limited - India
- Tata Chemicals Ltd - India
- Jaiprakash Power Ventures ltd
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Meenaskhi Energy Private Limited - India
- Renaissance Capital - South Africa
- International Coal Ventures Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Sojitz Corporation - Japan
- Posco Energy - South Korea
- Mercuria Energy - Indonesia
- IHS Mccloskey Coal Group - USA
- Latin American Coal - Colombia
- South Luzon Thermal Energy Corporation
- TNB Fuel Sdn Bhd - Malaysia
- Kumho Petrochemical, South Korea
- India Bulls Power Limited - India
- Parry Sugars Refinery, India
- New Zealand Coal & Carbon
- Coastal Gujarat Power Limited - India
- Mjunction Services Limited - India
- Karbindo Abesyapradhi - Indoneisa
- CNBM International Corporation - China
- Leighton Contractors Pty Ltd - Australia
- Sree Jayajothi Cements Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kartika Selabumi Mining - Indonesia
- The Treasury - Australian Government
- Anglo American - United Kingdom
- SMC Global Power, Philippines
- Baramulti Group, Indonesia
- SMG Consultants - Indonesia
- Bhoruka Overseas - Indonesia
- Indian Energy Exchange, India
- Tamil Nadu electricity Board
- Bank of Tokyo Mitsubishi UFJ Ltd
- Electricity Generating Authority of Thailand
- Eastern Energy - Thailand
- Pendopo Energi Batubara - Indonesia
- Medco Energi Mining Internasional
- Australian Commodity Traders Exchange
- Energy Development Corp, Philippines
- Ceylon Electricity Board - Sri Lanka
- Kapuas Tunggal Persada - Indonesia
- ASAPP Information Group - India
- Videocon Industries ltd - India
- Global Green Power PLC Corporation, Philippines
- Orica Mining Services - Indonesia
- PTC India Limited - India
- Gujarat Electricity Regulatory Commission - India
- Miang Besar Coal Terminal - Indonesia
- Intertek Mineral Services - Indonesia
- Vizag Seaport Private Limited - India
- OPG Power Generation Pvt Ltd - India
- Trasteel International SA, Italy
- Star Paper Mills Limited - India
- Riau Bara Harum - Indonesia
- Salva Resources Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- Independent Power Producers Association of India
- Semirara Mining Corp, Philippines
- Chettinad Cement Corporation Ltd - India
- Wood Mackenzie - Singapore
- Ambuja Cements Ltd - India
- Commonwealth Bank - Australia
- Attock Cement Pakistan Limited
- Lanco Infratech Ltd - India
- Therma Luzon, Inc, Philippines
- Maheswari Brothers Coal Limited - India
- Semirara Mining and Power Corporation, Philippines
- Savvy Resources Ltd - HongKong
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Global Business Power Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- CIMB Investment Bank - Malaysia
- MS Steel International - UAE
- Africa Commodities Group - South Africa
- Gujarat Sidhee Cement - India
- Electricity Authority, New Zealand
- Merrill Lynch Commodities Europe
- Standard Chartered Bank - UAE
- Globalindo Alam Lestari - Indonesia
- Banpu Public Company Limited - Thailand
- Neyveli Lignite Corporation Ltd, - India
- Simpson Spence & Young - Indonesia
- Georgia Ports Authority, United States
- Kohat Cement Company Ltd. - Pakistan
- Bayan Resources Tbk. - Indonesia
- Deloitte Consulting - India
- Iligan Light & Power Inc, Philippines
- Coal and Oil Company - UAE
- Sindya Power Generating Company Private Ltd
- San Jose City I Power Corp, Philippines
- Toyota Tsusho Corporation, Japan
- McConnell Dowell - Australia
- Wilmar Investment Holdings
- Samtan Co., Ltd - South Korea
- Bukit Baiduri Energy - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Bhatia International Limited - India
- Bangladesh Power Developement Board
- Holcim Trading Pte Ltd - Singapore
- TeaM Sual Corporation - Philippines
- Thai Mozambique Logistica
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