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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, 15 March 12
RESOURCE ALAM FY11 PROFIT UP 171% - INSIDER STORIES
Insider Stories reported that, coal mining company PT Resource Alam Indonesia Tbk (KKGI) reported a 171.16% jump in net profit last year on the back ...
Wednesday, 14 March 12
GLOBAL THERMAL TRADE FLOW CHANGES WILL ENSURE SECURITY OF THERMAL COAL SUPPLY, ALBEIT AT A HIGH PRICE - WOOD MACKENZIE
Wood Mackenzie Says Global Thermal Trade Flow Changes Will Ensure Security of Thermal Coal Supply, Albeit At a High Price Seaborne thermal demand by ...
Wednesday, 14 March 12
COKAL TAKES ANOTHER STEP IN DEVELOPING INFRASTRUCTURE TO FACILITATE METALLURGICAL COAL PRODUCTION
Global coal group, Cokal Limited (ASX-CKA), has signed Memorandums of Understanding (MoU’s) to develop two river ports and two small scale coa ...
Tuesday, 13 March 12
CLARIFICATION OF GR 24 OF 2012 REQUIRING DIVESTMENT OF FOREIGN OWNERSHIP OVER TIME
ASX Announcement
Global metallurgical coal group, Cokal Limited (ASX-CKA), is responding to the recent announcement of the Indonesian Ministry of ...
Tuesday, 13 March 12
EUROPEAN COAL CONTANGO: FURTHER STEEPNESS REQUIRED TO MAKE LARGE SCALE PHYSICAL TIME SPREAD ARBITRAGE MORE ATTRACTIVE - MISWIN MAHESH, BARCLAYS CAPITAL
COALspot.com - "With the contango between the Y+1 and M+1 ARA delivered contract now averaging above the $14/t level, there is an increasing in ...
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- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Borneo Indobara - Indonesia
- Jaiprakash Power Ventures ltd
- Mercator Lines Limited - India
- Energy Link Ltd, New Zealand
- Tata Chemicals Ltd - India
- Eastern Energy - Thailand
- Directorate General of MIneral and Coal - Indonesia
- Salva Resources Pvt Ltd - India
- Kumho Petrochemical, South Korea
- Wilmar Investment Holdings
- Ministry of Transport, Egypt
- Kideco Jaya Agung - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Sojitz Corporation - Japan
- Africa Commodities Group - South Africa
- Posco Energy - South Korea
- Eastern Coal Council - USA
- Madhucon Powers Ltd - India
- Power Finance Corporation Ltd., India
- Indo Tambangraya Megah - Indonesia
- Chamber of Mines of South Africa
- Timah Investasi Mineral - Indoneisa
- GN Power Mariveles Coal Plant, Philippines
- Riau Bara Harum - Indonesia
- Coal and Oil Company - UAE
- Vizag Seaport Private Limited - India
- The Treasury - Australian Government
- Savvy Resources Ltd - HongKong
- Dalmia Cement Bharat India
- VISA Power Limited - India
- MS Steel International - UAE
- Independent Power Producers Association of India
- Kalimantan Lumbung Energi - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Central Java Power - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Semirara Mining Corp, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Siam City Cement PLC, Thailand
- PowerSource Philippines DevCo
- Straits Asia Resources Limited - Singapore
- Latin American Coal - Colombia
- Bhushan Steel Limited - India
- Directorate Of Revenue Intelligence - India
- Kaltim Prima Coal - Indonesia
- Ind-Barath Power Infra Limited - India
- Xindia Steels Limited - India
- Global Green Power PLC Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Renaissance Capital - South Africa
- Minerals Council of Australia
- Siam City Cement - Thailand
- Semirara Mining and Power Corporation, Philippines
- Planning Commission, India
- San Jose City I Power Corp, Philippines
- Indonesian Coal Mining Association
- Petron Corporation, Philippines
- Electricity Generating Authority of Thailand
- International Coal Ventures Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- Mintek Dendrill Indonesia
- Meralco Power Generation, Philippines
- Singapore Mercantile Exchange
- Anglo American - United Kingdom
- Manunggal Multi Energi - Indonesia
- Agrawal Coal Company - India
- Uttam Galva Steels Limited - India
- Carbofer General Trading SA - India
- Bayan Resources Tbk. - Indonesia
- Aboitiz Power Corporation - Philippines
- Aditya Birla Group - India
- TNB Fuel Sdn Bhd - Malaysia
- Kohat Cement Company Ltd. - Pakistan
- Sakthi Sugars Limited - India
- Bhoruka Overseas - Indonesia
- Mjunction Services Limited - India
- Interocean Group of Companies - India
- Alfred C Toepfer International GmbH - Germany
- Oldendorff Carriers - Singapore
- Karaikal Port Pvt Ltd - India
- ASAPP Information Group - India
- Cement Manufacturers Association - India
- Asmin Koalindo Tuhup - Indonesia
- Kobexindo Tractors - Indoneisa
- Parliament of New Zealand
- Vijayanagar Sugar Pvt Ltd - India
- GMR Energy Limited - India
- Wood Mackenzie - Singapore
- ICICI Bank Limited - India
- Maheswari Brothers Coal Limited - India
- Ambuja Cements Ltd - India
- Attock Cement Pakistan Limited
- Larsen & Toubro Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Bangladesh Power Developement Board
- Metalloyd Limited - United Kingdom
- Energy Development Corp, Philippines
- McConnell Dowell - Australia
- Iligan Light & Power Inc, Philippines
- Therma Luzon, Inc, Philippines
- Baramulti Group, Indonesia
- India Bulls Power Limited - India
- Indogreen Group - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Antam Resourcindo - Indonesia
- Thai Mozambique Logistica
- The State Trading Corporation of India Ltd
- The University of Queensland
- Commonwealth Bank - Australia
- Merrill Lynch Commodities Europe
- Intertek Mineral Services - Indonesia
- South Luzon Thermal Energy Corporation
- GVK Power & Infra Limited - India
- SN Aboitiz Power Inc, Philippines
- White Energy Company Limited
- Bulk Trading Sa - Switzerland
- Makarim & Taira - Indonesia
- Bharathi Cement Corporation - India
- Heidelberg Cement - Germany
- AsiaOL BioFuels Corp., Philippines
- PNOC Exploration Corporation - Philippines
- Neyveli Lignite Corporation Ltd, - India
- Kapuas Tunggal Persada - Indonesia
- TeaM Sual Corporation - Philippines
- SMC Global Power, Philippines
- Sree Jayajothi Cements Limited - India
- Banpu Public Company Limited - Thailand
- Tamil Nadu electricity Board
- Coalindo Energy - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Global Business Power Corporation, Philippines
- Barasentosa Lestari - Indonesia
- European Bulk Services B.V. - Netherlands
- Rashtriya Ispat Nigam Limited - India
- Marubeni Corporation - India
- Maharashtra Electricity Regulatory Commission - India
- Formosa Plastics Group - Taiwan
- Meenaskhi Energy Private Limited - India
- Altura Mining Limited, Indonesia
- Indian Oil Corporation Limited
- Electricity Authority, New Zealand
- Ministry of Finance - Indonesia
- Coastal Gujarat Power Limited - India
- CNBM International Corporation - China
- Simpson Spence & Young - Indonesia
- Star Paper Mills Limited - India
- Mercuria Energy - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Binh Thuan Hamico - Vietnam
- IEA Clean Coal Centre - UK
- Thiess Contractors Indonesia
- Malabar Cements Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Pendopo Energi Batubara - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Essar Steel Hazira Ltd - India
- Vedanta Resources Plc - India
- OPG Power Generation Pvt Ltd - India
- Standard Chartered Bank - UAE
- Australian Coal Association
- Orica Mining Services - Indonesia
- Medco Energi Mining Internasional
- Lanco Infratech Ltd - India
- Samtan Co., Ltd - South Korea
- Orica Australia Pty. Ltd.
- Cigading International Bulk Terminal - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Grasim Industreis Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bhatia International Limited - India
- New Zealand Coal & Carbon
- Trasteel International SA, Italy
- Bank of Tokyo Mitsubishi UFJ Ltd
- SMG Consultants - Indonesia
- LBH Netherlands Bv - Netherlands
- Central Electricity Authority - India
- Rio Tinto Coal - Australia
- Ministry of Mines - Canada
- Economic Council, Georgia
- Bukit Baiduri Energy - Indonesia
- Kartika Selabumi Mining - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Gujarat Sidhee Cement - India
- Georgia Ports Authority, United States
- Sindya Power Generating Company Private Ltd
- London Commodity Brokers - England
- Krishnapatnam Port Company Ltd. - India
- Chettinad Cement Corporation Ltd - India
- Videocon Industries ltd - India
- Romanian Commodities Exchange
- IHS Mccloskey Coal Group - USA
- Sical Logistics Limited - India
- Jindal Steel & Power Ltd - India
- Sarangani Energy Corporation, Philippines
- Deloitte Consulting - India
- Indika Energy - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bukit Asam (Persero) Tbk - Indonesia
- Kepco SPC Power Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bukit Makmur.PT - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Australian Commodity Traders Exchange
- Port Waratah Coal Services - Australia
- Edison Trading Spa - Italy
- Price Waterhouse Coopers - Russia
- Global Coal Blending Company Limited - Australia
- Toyota Tsusho Corporation, Japan
- Parry Sugars Refinery, India
- Goldman Sachs - Singapore
- Gujarat Electricity Regulatory Commission - India
- Globalindo Alam Lestari - Indonesia
- PTC India Limited - India
- Indian Energy Exchange, India
- Karbindo Abesyapradhi - Indoneisa
- GAC Shipping (India) Pvt Ltd
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