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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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- Indogreen Group - Indonesia
- Malabar Cements Ltd - India
- PowerSource Philippines DevCo
- Bangladesh Power Developement Board
- Goldman Sachs - Singapore
- Thai Mozambique Logistica
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indian Oil Corporation Limited
- Bhushan Steel Limited - India
- European Bulk Services B.V. - Netherlands
- PNOC Exploration Corporation - Philippines
- GVK Power & Infra Limited - India
- Power Finance Corporation Ltd., India
- Romanian Commodities Exchange
- McConnell Dowell - Australia
- Siam City Cement - Thailand
- Bhatia International Limited - India
- Vedanta Resources Plc - India
- Global Coal Blending Company Limited - Australia
- Coastal Gujarat Power Limited - India
- Tamil Nadu electricity Board
- Meenaskhi Energy Private Limited - India
- South Luzon Thermal Energy Corporation
- OPG Power Generation Pvt Ltd - India
- IEA Clean Coal Centre - UK
- Asmin Koalindo Tuhup - Indonesia
- GMR Energy Limited - India
- Pendopo Energi Batubara - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Barasentosa Lestari - Indonesia
- Coalindo Energy - Indonesia
- Gujarat Sidhee Cement - India
- Kobexindo Tractors - Indoneisa
- Antam Resourcindo - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Australian Commodity Traders Exchange
- Savvy Resources Ltd - HongKong
- TNB Fuel Sdn Bhd - Malaysia
- Baramulti Group, Indonesia
- Xindia Steels Limited - India
- Vizag Seaport Private Limited - India
- Mintek Dendrill Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Uttam Galva Steels Limited - India
- Ministry of Finance - Indonesia
- Sakthi Sugars Limited - India
- Rio Tinto Coal - Australia
- Banpu Public Company Limited - Thailand
- Karaikal Port Pvt Ltd - India
- Independent Power Producers Association of India
- Sindya Power Generating Company Private Ltd
- SN Aboitiz Power Inc, Philippines
- The Treasury - Australian Government
- Orica Mining Services - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Electricity Generating Authority of Thailand
- Bukit Baiduri Energy - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Indika Energy - Indonesia
- Edison Trading Spa - Italy
- Kalimantan Lumbung Energi - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- Jindal Steel & Power Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Manunggal Multi Energi - Indonesia
- Therma Luzon, Inc, Philippines
- Central Java Power - Indonesia
- Ind-Barath Power Infra Limited - India
- The University of Queensland
- Simpson Spence & Young - Indonesia
- ICICI Bank Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Kartika Selabumi Mining - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Georgia Ports Authority, United States
- Planning Commission, India
- White Energy Company Limited
- Miang Besar Coal Terminal - Indonesia
- Coal and Oil Company - UAE
- Dalmia Cement Bharat India
- Holcim Trading Pte Ltd - Singapore
- Essar Steel Hazira Ltd - India
- Mercator Lines Limited - India
- Economic Council, Georgia
- Maharashtra Electricity Regulatory Commission - India
- Kideco Jaya Agung - Indonesia
- Mercuria Energy - Indonesia
- Indian Energy Exchange, India
- Standard Chartered Bank - UAE
- Billiton Holdings Pty Ltd - Australia
- Larsen & Toubro Limited - India
- London Commodity Brokers - England
- LBH Netherlands Bv - Netherlands
- Timah Investasi Mineral - Indoneisa
- Aditya Birla Group - India
- Bukit Asam (Persero) Tbk - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Attock Cement Pakistan Limited
- Heidelberg Cement - Germany
- CIMB Investment Bank - Malaysia
- Petron Corporation, Philippines
- Posco Energy - South Korea
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Agrawal Coal Company - India
- Makarim & Taira - Indonesia
- Medco Energi Mining Internasional
- Maheswari Brothers Coal Limited - India
- Straits Asia Resources Limited - Singapore
- Parliament of New Zealand
- Interocean Group of Companies - India
- ASAPP Information Group - India
- Aboitiz Power Corporation - Philippines
- Cement Manufacturers Association - India
- Star Paper Mills Limited - India
- Directorate Of Revenue Intelligence - India
- Kaltim Prima Coal - Indonesia
- Ministry of Mines - Canada
- Eastern Coal Council - USA
- Orica Australia Pty. Ltd.
- Bharathi Cement Corporation - India
- Kepco SPC Power Corporation, Philippines
- Eastern Energy - Thailand
- Ambuja Cements Ltd - India
- Tata Chemicals Ltd - India
- TeaM Sual Corporation - Philippines
- Port Waratah Coal Services - Australia
- Parry Sugars Refinery, India
- Intertek Mineral Services - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Deloitte Consulting - India
- Bukit Makmur.PT - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Bhoruka Overseas - Indonesia
- Energy Development Corp, Philippines
- Minerals Council of Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- IHS Mccloskey Coal Group - USA
- Mjunction Services Limited - India
- India Bulls Power Limited - India
- Metalloyd Limited - United Kingdom
- Toyota Tsusho Corporation, Japan
- Anglo American - United Kingdom
- Siam City Cement PLC, Thailand
- Marubeni Corporation - India
- Iligan Light & Power Inc, Philippines
- Ministry of Transport, Egypt
- The State Trading Corporation of India Ltd
- Sarangani Energy Corporation, Philippines
- VISA Power Limited - India
- Thiess Contractors Indonesia
- Renaissance Capital - South Africa
- CNBM International Corporation - China
- Commonwealth Bank - Australia
- Salva Resources Pvt Ltd - India
- International Coal Ventures Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- Chettinad Cement Corporation Ltd - India
- Trasteel International SA, Italy
- MS Steel International - UAE
- GAC Shipping (India) Pvt Ltd
- Sinarmas Energy and Mining - Indonesia
- Videocon Industries ltd - India
- San Jose City I Power Corp, Philippines
- Indonesian Coal Mining Association
- Grasim Industreis Ltd - India
- Indo Tambangraya Megah - Indonesia
- Latin American Coal - Colombia
- Ceylon Electricity Board - Sri Lanka
- Globalindo Alam Lestari - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Carbofer General Trading SA - India
- Chamber of Mines of South Africa
- Kumho Petrochemical, South Korea
- Semirara Mining and Power Corporation, Philippines
- Wilmar Investment Holdings
- Binh Thuan Hamico - Vietnam
- Global Business Power Corporation, Philippines
- Sojitz Corporation - Japan
- Pipit Mutiara Jaya. PT, Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Sree Jayajothi Cements Limited - India
- Riau Bara Harum - Indonesia
- SMC Global Power, Philippines
- Global Green Power PLC Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Madhucon Powers Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Meralco Power Generation, Philippines
- Sical Logistics Limited - India
- Rashtriya Ispat Nigam Limited - India
- Lanco Infratech Ltd - India
- Semirara Mining Corp, Philippines
- Bayan Resources Tbk. - Indonesia
- Merrill Lynch Commodities Europe
- New Zealand Coal & Carbon
- Borneo Indobara - Indonesia
- Bulk Trading Sa - Switzerland
- Singapore Mercantile Exchange
- Altura Mining Limited, Indonesia
- Energy Link Ltd, New Zealand
- Formosa Plastics Group - Taiwan
- PTC India Limited - India
- Price Waterhouse Coopers - Russia
- Central Electricity Authority - India
- Leighton Contractors Pty Ltd - Australia
- Australian Coal Association
- Bank of Tokyo Mitsubishi UFJ Ltd
- AsiaOL BioFuels Corp., Philippines
- Neyveli Lignite Corporation Ltd, - India
- SMG Consultants - Indonesia
- Wood Mackenzie - Singapore
- Electricity Authority, New Zealand
- Kapuas Tunggal Persada - Indonesia
- Oldendorff Carriers - Singapore
- Africa Commodities Group - South Africa
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