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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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Friday, 09 March 12
SHIP OWNERS LOOKING TO CHINA FOR REVIVAL, WHILE THEY KEEP SELLING OLD SHIPS FOR SCRAP - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
With China’s economic policy plan for the future on every ship owner’s mind, at least those involved in the dry bulk industry, the lates ...
Thursday, 08 March 12
INDONESIA'S COAL SECTOR CAN BENEFIT FROM CLEARER REGULATIONS - FITCH RATINGS
Fitch Ratings says Indonesia's coal mining sector should continue to see strong growth prospects but can benefit from clearer and more predictable ...
Thursday, 08 March 12
DRY BULK MARKET ON THE RISE; CHINAS COAL IMPORTS COULD INCREASE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market kept on rising back to healthier levels yesterday, with the BDI (Baltic Dry Index) the industry’s benchmark, marking its 8 ...
Wednesday, 07 March 12
INDONESIA COAL BENCHMARK PRICE GAINS FOR SECOND MONTH
COALspot.com - Indonesia raised the monthly coal reference price for sales in March by 1.15 percent, the second increase since February.
The Mini ...
Wednesday, 07 March 12
INDONESIA TO LIMIT FOREIGN OWNERSHIP IN MINES TO 49 PERCENT WITHIN 10 YEARS OF PRODUCTION
COALspot.com - Foreign holders of mining licenses in Indonesia have to divert 51% of their stakes to Indonesian government or domestic entitie ...
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Showing 4816 to 4820 news of total 6871 |
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- Posco Energy - South Korea
- The State Trading Corporation of India Ltd
- Ambuja Cements Ltd - India
- Electricity Authority, New Zealand
- Planning Commission, India
- Cigading International Bulk Terminal - Indonesia
- Antam Resourcindo - Indonesia
- San Jose City I Power Corp, Philippines
- Bhoruka Overseas - Indonesia
- Sojitz Corporation - Japan
- Pendopo Energi Batubara - Indonesia
- Ind-Barath Power Infra Limited - India
- Medco Energi Mining Internasional
- Semirara Mining Corp, Philippines
- SMC Global Power, Philippines
- Orica Australia Pty. Ltd.
- International Coal Ventures Pvt Ltd - India
- Kumho Petrochemical, South Korea
- CNBM International Corporation - China
- Mintek Dendrill Indonesia
- Videocon Industries ltd - India
- Deloitte Consulting - India
- Maharashtra Electricity Regulatory Commission - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Miang Besar Coal Terminal - Indonesia
- Siam City Cement PLC, Thailand
- OPG Power Generation Pvt Ltd - India
- Thai Mozambique Logistica
- Kepco SPC Power Corporation, Philippines
- Wilmar Investment Holdings
- Minerals Council of Australia
- Cement Manufacturers Association - India
- SMG Consultants - Indonesia
- ASAPP Information Group - India
- Essar Steel Hazira Ltd - India
- Binh Thuan Hamico - Vietnam
- Petrochimia International Co. Ltd.- Taiwan
- PowerSource Philippines DevCo
- Oldendorff Carriers - Singapore
- The Treasury - Australian Government
- Barasentosa Lestari - Indonesia
- Iligan Light & Power Inc, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Orica Mining Services - Indonesia
- Power Finance Corporation Ltd., India
- Salva Resources Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indika Energy - Indonesia
- Merrill Lynch Commodities Europe
- Chettinad Cement Corporation Ltd - India
- Indogreen Group - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Star Paper Mills Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Attock Cement Pakistan Limited
- TNB Fuel Sdn Bhd - Malaysia
- Formosa Plastics Group - Taiwan
- Australian Coal Association
- Xindia Steels Limited - India
- Sarangani Energy Corporation, Philippines
- Independent Power Producers Association of India
- GN Power Mariveles Coal Plant, Philippines
- Krishnapatnam Port Company Ltd. - India
- Heidelberg Cement - Germany
- Toyota Tsusho Corporation, Japan
- Rashtriya Ispat Nigam Limited - India
- Economic Council, Georgia
- Coastal Gujarat Power Limited - India
- Carbofer General Trading SA - India
- Meralco Power Generation, Philippines
- Maheswari Brothers Coal Limited - India
- Siam City Cement - Thailand
- Intertek Mineral Services - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Vedanta Resources Plc - India
- VISA Power Limited - India
- Madhucon Powers Ltd - India
- Mercator Lines Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Indian Oil Corporation Limited
- MS Steel International - UAE
- Sinarmas Energy and Mining - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Trasteel International SA, Italy
- Aditya Birla Group - India
- Energy Link Ltd, New Zealand
- McConnell Dowell - Australia
- Price Waterhouse Coopers - Russia
- Tamil Nadu electricity Board
- Latin American Coal - Colombia
- PNOC Exploration Corporation - Philippines
- Tata Chemicals Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- The University of Queensland
- Commonwealth Bank - Australia
- Jaiprakash Power Ventures ltd
- Electricity Generating Authority of Thailand
- PTC India Limited - India
- Bulk Trading Sa - Switzerland
- Georgia Ports Authority, United States
- Kaltim Prima Coal - Indonesia
- CIMB Investment Bank - Malaysia
- Kobexindo Tractors - Indoneisa
- Larsen & Toubro Limited - India
- Global Green Power PLC Corporation, Philippines
- Ministry of Mines - Canada
- Coal and Oil Company - UAE
- Ministry of Transport, Egypt
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kideco Jaya Agung - Indonesia
- Semirara Mining and Power Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Interocean Group of Companies - India
- Sical Logistics Limited - India
- Altura Mining Limited, Indonesia
- IHS Mccloskey Coal Group - USA
- Australian Commodity Traders Exchange
- Straits Asia Resources Limited - Singapore
- Port Waratah Coal Services - Australia
- Sakthi Sugars Limited - India
- Simpson Spence & Young - Indonesia
- London Commodity Brokers - England
- Central Electricity Authority - India
- Riau Bara Harum - Indonesia
- Chamber of Mines of South Africa
- Vizag Seaport Private Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Indonesian Coal Mining Association
- Sindya Power Generating Company Private Ltd
- Indian Energy Exchange, India
- Asmin Koalindo Tuhup - Indonesia
- Eastern Coal Council - USA
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- GAC Shipping (India) Pvt Ltd
- Uttam Galva Steels Limited - India
- Africa Commodities Group - South Africa
- Parliament of New Zealand
- Holcim Trading Pte Ltd - Singapore
- Dalmia Cement Bharat India
- Globalindo Alam Lestari - Indonesia
- Global Coal Blending Company Limited - Australia
- Therma Luzon, Inc, Philippines
- Petron Corporation, Philippines
- Bhushan Steel Limited - India
- Aboitiz Power Corporation - Philippines
- Savvy Resources Ltd - HongKong
- New Zealand Coal & Carbon
- Central Java Power - Indonesia
- Mercuria Energy - Indonesia
- Sree Jayajothi Cements Limited - India
- Anglo American - United Kingdom
- LBH Netherlands Bv - Netherlands
- Coalindo Energy - Indonesia
- Kartika Selabumi Mining - Indonesia
- Timah Investasi Mineral - Indoneisa
- Meenaskhi Energy Private Limited - India
- Gujarat Electricity Regulatory Commission - India
- Directorate Of Revenue Intelligence - India
- India Bulls Power Limited - India
- Ministry of Finance - Indonesia
- Manunggal Multi Energi - Indonesia
- Eastern Energy - Thailand
- Karaikal Port Pvt Ltd - India
- Thiess Contractors Indonesia
- Agrawal Coal Company - India
- Bangladesh Power Developement Board
- Indo Tambangraya Megah - Indonesia
- Mjunction Services Limited - India
- Samtan Co., Ltd - South Korea
- GMR Energy Limited - India
- Baramulti Group, Indonesia
- Wood Mackenzie - Singapore
- TeaM Sual Corporation - Philippines
- Makarim & Taira - Indonesia
- Gujarat Sidhee Cement - India
- Bukit Makmur.PT - Indonesia
- Bharathi Cement Corporation - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Goldman Sachs - Singapore
- ICICI Bank Limited - India
- Jindal Steel & Power Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Malabar Cements Ltd - India
- SN Aboitiz Power Inc, Philippines
- South Luzon Thermal Energy Corporation
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Marubeni Corporation - India
- GVK Power & Infra Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Global Business Power Corporation, Philippines
- Singapore Mercantile Exchange
- Bhatia International Limited - India
- Standard Chartered Bank - UAE
- Romanian Commodities Exchange
- White Energy Company Limited
- Pipit Mutiara Jaya. PT, Indonesia
- Billiton Holdings Pty Ltd - Australia
- Rio Tinto Coal - Australia
- Leighton Contractors Pty Ltd - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Lanco Infratech Ltd - India
- Borneo Indobara - Indonesia
- European Bulk Services B.V. - Netherlands
- Parry Sugars Refinery, India
- IEA Clean Coal Centre - UK
- Energy Development Corp, Philippines
- Renaissance Capital - South Africa
- Edison Trading Spa - Italy
- Metalloyd Limited - United Kingdom
- Karbindo Abesyapradhi - Indoneisa
- Bayan Resources Tbk. - Indonesia
- Banpu Public Company Limited - Thailand
- Bukit Baiduri Energy - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Grasim Industreis Ltd - India
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