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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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Monday, 12 March 12
DELTA DUNIA 1M OVERBURDEN DROPS 3.1% - INSIDER STORIES
Insider Stories reported that, Indonesia's second largest coal mining contractor PT Delta Dunia Makmur Tbk (DOID) reported a 25 million bank ...
Monday, 12 March 12
DRY BULK RATES WILL REMAIN LOW IN 2012 SAYS DANISH SHIP FINANCE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
In its annual shipping survey Danish Ship Finance said that the current outlook for the Dry Bulk market seems unlikely to foster higher rates in any ...
Monday, 12 March 12
WEEKLY DRY MARKET OVERVIEW - MARIA BERTZELETOU, HELLENIC SHIPPING
The first days of March appear to be more encouraging for dry bulk operators, but the outlook is still gloomy for the rest of year with earnings for ...
Sunday, 11 March 12
FREIGHT RATES FOR INDONESIA TO INDIA WILL CONTINUE TO REMAIN FIRM- VISTAAR
COALspot.com - This week saw another upward trend with all indices up except for the Cape index.
The BDI was up by 6.87 pct closing at 824 points ...
Friday, 09 March 12
MINING IN INDONESIA: RESTRICTION ON FOREIGN INVESTMENT - SUNIL K KUMBHAT
COALspot.com - Recently Govt has passed regulation instructing foreign mining companies to reduce their ownership stake.
The regulation known as ...
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- Indian Oil Corporation Limited
- Thai Mozambique Logistica
- International Coal Ventures Pvt Ltd - India
- Latin American Coal - Colombia
- Gujarat Electricity Regulatory Commission - India
- Cement Manufacturers Association - India
- Ceylon Electricity Board - Sri Lanka
- Kohat Cement Company Ltd. - Pakistan
- Gujarat Mineral Development Corp Ltd - India
- Globalindo Alam Lestari - Indonesia
- LBH Netherlands Bv - Netherlands
- Standard Chartered Bank - UAE
- Kideco Jaya Agung - Indonesia
- Commonwealth Bank - Australia
- Indika Energy - Indonesia
- Aditya Birla Group - India
- Australian Coal Association
- Vizag Seaport Private Limited - India
- Coal and Oil Company - UAE
- India Bulls Power Limited - India
- Heidelberg Cement - Germany
- Intertek Mineral Services - Indonesia
- Sindya Power Generating Company Private Ltd
- Bhushan Steel Limited - India
- GVK Power & Infra Limited - India
- Africa Commodities Group - South Africa
- Karbindo Abesyapradhi - Indoneisa
- The University of Queensland
- Price Waterhouse Coopers - Russia
- Makarim & Taira - Indonesia
- Bangladesh Power Developement Board
- Siam City Cement PLC, Thailand
- Bukit Makmur.PT - Indonesia
- GAC Shipping (India) Pvt Ltd
- Ind-Barath Power Infra Limited - India
- Semirara Mining and Power Corporation, Philippines
- Mjunction Services Limited - India
- New Zealand Coal & Carbon
- Indo Tambangraya Megah - Indonesia
- Minerals Council of Australia
- Aboitiz Power Corporation - Philippines
- European Bulk Services B.V. - Netherlands
- VISA Power Limited - India
- Global Business Power Corporation, Philippines
- Oldendorff Carriers - Singapore
- Global Green Power PLC Corporation, Philippines
- Carbofer General Trading SA - India
- Maharashtra Electricity Regulatory Commission - India
- Riau Bara Harum - Indonesia
- Kumho Petrochemical, South Korea
- London Commodity Brokers - England
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Borneo Indobara - Indonesia
- PTC India Limited - India
- Barasentosa Lestari - Indonesia
- Simpson Spence & Young - Indonesia
- Binh Thuan Hamico - Vietnam
- TeaM Sual Corporation - Philippines
- Kaltim Prima Coal - Indonesia
- Directorate Of Revenue Intelligence - India
- Karaikal Port Pvt Ltd - India
- Energy Development Corp, Philippines
- Kepco SPC Power Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Holcim Trading Pte Ltd - Singapore
- Therma Luzon, Inc, Philippines
- Goldman Sachs - Singapore
- Samtan Co., Ltd - South Korea
- Orica Australia Pty. Ltd.
- Wilmar Investment Holdings
- Uttam Galva Steels Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Maheswari Brothers Coal Limited - India
- Sakthi Sugars Limited - India
- Cigading International Bulk Terminal - Indonesia
- The State Trading Corporation of India Ltd
- Salva Resources Pvt Ltd - India
- Australian Commodity Traders Exchange
- MS Steel International - UAE
- TNB Fuel Sdn Bhd - Malaysia
- CIMB Investment Bank - Malaysia
- Central Java Power - Indonesia
- Star Paper Mills Limited - India
- Pendopo Energi Batubara - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Agrawal Coal Company - India
- Ministry of Mines - Canada
- Bahari Cakrawala Sebuku - Indonesia
- Wood Mackenzie - Singapore
- Coalindo Energy - Indonesia
- OPG Power Generation Pvt Ltd - India
- Economic Council, Georgia
- Xindia Steels Limited - India
- The Treasury - Australian Government
- Kapuas Tunggal Persada - Indonesia
- Georgia Ports Authority, United States
- Gujarat Sidhee Cement - India
- Chamber of Mines of South Africa
- Chettinad Cement Corporation Ltd - India
- Attock Cement Pakistan Limited
- Kobexindo Tractors - Indoneisa
- Electricity Authority, New Zealand
- Posco Energy - South Korea
- ASAPP Information Group - India
- Eastern Energy - Thailand
- Leighton Contractors Pty Ltd - Australia
- Port Waratah Coal Services - Australia
- Manunggal Multi Energi - Indonesia
- Rio Tinto Coal - Australia
- Electricity Generating Authority of Thailand
- Ministry of Finance - Indonesia
- Energy Link Ltd, New Zealand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Lanco Infratech Ltd - India
- Orica Mining Services - Indonesia
- Essar Steel Hazira Ltd - India
- Indian Energy Exchange, India
- Dalmia Cement Bharat India
- White Energy Company Limited
- Ambuja Cements Ltd - India
- Eastern Coal Council - USA
- Renaissance Capital - South Africa
- Global Coal Blending Company Limited - Australia
- Bukit Baiduri Energy - Indonesia
- PowerSource Philippines DevCo
- Altura Mining Limited, Indonesia
- Grasim Industreis Ltd - India
- Parliament of New Zealand
- Vedanta Resources Plc - India
- Antam Resourcindo - Indonesia
- Ministry of Transport, Egypt
- Power Finance Corporation Ltd., India
- Semirara Mining Corp, Philippines
- Tata Chemicals Ltd - India
- Mintek Dendrill Indonesia
- Neyveli Lignite Corporation Ltd, - India
- IHS Mccloskey Coal Group - USA
- Toyota Tsusho Corporation, Japan
- Sarangani Energy Corporation, Philippines
- Sojitz Corporation - Japan
- Medco Energi Mining Internasional
- Madhucon Powers Ltd - India
- Timah Investasi Mineral - Indoneisa
- Petron Corporation, Philippines
- Planning Commission, India
- Deloitte Consulting - India
- Pipit Mutiara Jaya. PT, Indonesia
- Bhoruka Overseas - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Bayan Resources Tbk. - Indonesia
- Bharathi Cement Corporation - India
- SMG Consultants - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Edison Trading Spa - Italy
- Bank of Tokyo Mitsubishi UFJ Ltd
- Metalloyd Limited - United Kingdom
- Jorong Barutama Greston.PT - Indonesia
- Coastal Gujarat Power Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Siam City Cement - Thailand
- Marubeni Corporation - India
- Straits Asia Resources Limited - Singapore
- Bhatia International Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Jaiprakash Power Ventures ltd
- Mercator Lines Limited - India
- Krishnapatnam Port Company Ltd. - India
- Tamil Nadu electricity Board
- PNOC Exploration Corporation - Philippines
- Baramulti Group, Indonesia
- Independent Power Producers Association of India
- Kartika Selabumi Mining - Indonesia
- Jindal Steel & Power Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Anglo American - United Kingdom
- Savvy Resources Ltd - HongKong
- Meenaskhi Energy Private Limited - India
- Malabar Cements Ltd - India
- Interocean Group of Companies - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Iligan Light & Power Inc, Philippines
- Trasteel International SA, Italy
- ICICI Bank Limited - India
- Mercuria Energy - Indonesia
- Formosa Plastics Group - Taiwan
- South Luzon Thermal Energy Corporation
- Billiton Holdings Pty Ltd - Australia
- Central Electricity Authority - India
- Rashtriya Ispat Nigam Limited - India
- Sree Jayajothi Cements Limited - India
- Banpu Public Company Limited - Thailand
- Sical Logistics Limited - India
- McConnell Dowell - Australia
- CNBM International Corporation - China
- Vijayanagar Sugar Pvt Ltd - India
- Indogreen Group - Indonesia
- Meralco Power Generation, Philippines
- Larsen & Toubro Limited - India
- SN Aboitiz Power Inc, Philippines
- Indonesian Coal Mining Association
- Singapore Mercantile Exchange
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Thiess Contractors Indonesia
- Romanian Commodities Exchange
- GMR Energy Limited - India
- San Jose City I Power Corp, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Merrill Lynch Commodities Europe
- IEA Clean Coal Centre - UK
- Bulk Trading Sa - Switzerland
- SMC Global Power, Philippines
- Videocon Industries ltd - India
- Parry Sugars Refinery, India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
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