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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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Wednesday, 07 March 12
ASSESS ASIAS POTENTIAL, DEVELOPMENTS AND APPETITE FOR SHALE AT SHALE GAS SUMMIT
Press Release - Assess Asia’s Potential, Developments and Appetite for Shale at Shale Gas Summit on 23-24 Apr, 2012 in Beijing
China is rep ...
Wednesday, 07 March 12
3RD MOZAMBIQUE COAL CONFERENCE
3rd Mozambique Coal Conference
2-4 July 2012 | Joaquim Chissano International Conference Centre , Maputo, Mozambique
http://www.immevents.com/mo ...
Wednesday, 07 March 12
DRY BULK MARKET KEEPS UP TIMID REBOUND - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has kept its rising momentum yesterday, rising for the eighth straight session, on the back of renewed demand for smaller bulk c ...
Wednesday, 07 March 12
BUKIT ASAM EYES 39% RISE IN COAL SALES - INSIDER STORIES
Insider Stories reported that, PT Bukit Asam Tbk is scouting a 39% increase in coal sales volume to 18.66 million tons this year from last year with ...
Wednesday, 07 March 12
PETROSEA SEALS US$188 MIO CONTRACT - INSIDER STORIES
Insider Stories reported that, coal mining contractor PT Petrosea Tbk has secured a US$188 million additional contract from its affiliated firm PT S ...
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- Central Electricity Authority - India
- CNBM International Corporation - China
- Intertek Mineral Services - Indonesia
- Gujarat Sidhee Cement - India
- Essar Steel Hazira Ltd - India
- Borneo Indobara - Indonesia
- SMC Global Power, Philippines
- San Jose City I Power Corp, Philippines
- Sojitz Corporation - Japan
- Indonesian Coal Mining Association
- Interocean Group of Companies - India
- Salva Resources Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Makarim & Taira - Indonesia
- Siam City Cement - Thailand
- Anglo American - United Kingdom
- Edison Trading Spa - Italy
- AsiaOL BioFuels Corp., Philippines
- Deloitte Consulting - India
- Kepco SPC Power Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- Straits Asia Resources Limited - Singapore
- Posco Energy - South Korea
- GMR Energy Limited - India
- Metalloyd Limited - United Kingdom
- Trasteel International SA, Italy
- Cement Manufacturers Association - India
- Meenaskhi Energy Private Limited - India
- Aditya Birla Group - India
- Orica Australia Pty. Ltd.
- Leighton Contractors Pty Ltd - Australia
- Ministry of Finance - Indonesia
- Australian Commodity Traders Exchange
- Sinarmas Energy and Mining - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Miang Besar Coal Terminal - Indonesia
- Indika Energy - Indonesia
- TeaM Sual Corporation - Philippines
- CIMB Investment Bank - Malaysia
- Vizag Seaport Private Limited - India
- Globalindo Alam Lestari - Indonesia
- Xindia Steels Limited - India
- Sree Jayajothi Cements Limited - India
- ASAPP Information Group - India
- International Coal Ventures Pvt Ltd - India
- Parry Sugars Refinery, India
- Wilmar Investment Holdings
- Oldendorff Carriers - Singapore
- London Commodity Brokers - England
- Sarangani Energy Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- The University of Queensland
- Minerals Council of Australia
- Samtan Co., Ltd - South Korea
- Parliament of New Zealand
- Simpson Spence & Young - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- IHS Mccloskey Coal Group - USA
- Bank of Tokyo Mitsubishi UFJ Ltd
- GN Power Mariveles Coal Plant, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Kapuas Tunggal Persada - Indonesia
- Global Green Power PLC Corporation, Philippines
- Global Business Power Corporation, Philippines
- Star Paper Mills Limited - India
- India Bulls Power Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Mjunction Services Limited - India
- Commonwealth Bank - Australia
- Bhoruka Overseas - Indonesia
- Coal and Oil Company - UAE
- Petrochimia International Co. Ltd.- Taiwan
- Kumho Petrochemical, South Korea
- Port Waratah Coal Services - Australia
- The Treasury - Australian Government
- Altura Mining Limited, Indonesia
- Agrawal Coal Company - India
- Energy Link Ltd, New Zealand
- Electricity Generating Authority of Thailand
- Rashtriya Ispat Nigam Limited - India
- Georgia Ports Authority, United States
- VISA Power Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Power Finance Corporation Ltd., India
- Medco Energi Mining Internasional
- Formosa Plastics Group - Taiwan
- Antam Resourcindo - Indonesia
- Kideco Jaya Agung - Indonesia
- Bangladesh Power Developement Board
- PTC India Limited - India
- Gujarat Electricity Regulatory Commission - India
- Energy Development Corp, Philippines
- Larsen & Toubro Limited - India
- Singapore Mercantile Exchange
- Grasim Industreis Ltd - India
- Meralco Power Generation, Philippines
- Savvy Resources Ltd - HongKong
- Krishnapatnam Port Company Ltd. - India
- Heidelberg Cement - Germany
- Iligan Light & Power Inc, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- IEA Clean Coal Centre - UK
- Baramulti Group, Indonesia
- Bulk Trading Sa - Switzerland
- Indo Tambangraya Megah - Indonesia
- Coastal Gujarat Power Limited - India
- The State Trading Corporation of India Ltd
- LBH Netherlands Bv - Netherlands
- Standard Chartered Bank - UAE
- Price Waterhouse Coopers - Russia
- South Luzon Thermal Energy Corporation
- MS Steel International - UAE
- Bayan Resources Tbk. - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- GVK Power & Infra Limited - India
- ICICI Bank Limited - India
- New Zealand Coal & Carbon
- Kartika Selabumi Mining - Indonesia
- White Energy Company Limited
- Planning Commission, India
- SMG Consultants - Indonesia
- Latin American Coal - Colombia
- Mercator Lines Limited - India
- Videocon Industries ltd - India
- Thai Mozambique Logistica
- Bukit Makmur.PT - Indonesia
- Tata Chemicals Ltd - India
- Global Coal Blending Company Limited - Australia
- Kaltim Prima Coal - Indonesia
- Ind-Barath Power Infra Limited - India
- Bhatia International Limited - India
- Merrill Lynch Commodities Europe
- Karaikal Port Pvt Ltd - India
- Marubeni Corporation - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Cigading International Bulk Terminal - Indonesia
- Jindal Steel & Power Ltd - India
- Mercuria Energy - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Asmin Koalindo Tuhup - Indonesia
- Indian Energy Exchange, India
- Goldman Sachs - Singapore
- Chettinad Cement Corporation Ltd - India
- Renaissance Capital - South Africa
- TNB Fuel Sdn Bhd - Malaysia
- Bhushan Steel Limited - India
- PNOC Exploration Corporation - Philippines
- Semirara Mining Corp, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Banpu Public Company Limited - Thailand
- Dalmia Cement Bharat India
- Manunggal Multi Energi - Indonesia
- McConnell Dowell - Australia
- Sindya Power Generating Company Private Ltd
- Offshore Bulk Terminal Pte Ltd, Singapore
- OPG Power Generation Pvt Ltd - India
- Ministry of Transport, Egypt
- PowerSource Philippines DevCo
- Wood Mackenzie - Singapore
- Madhucon Powers Ltd - India
- Eastern Energy - Thailand
- Neyveli Lignite Corporation Ltd, - India
- Independent Power Producers Association of India
- Kobexindo Tractors - Indoneisa
- Therma Luzon, Inc, Philippines
- Ceylon Electricity Board - Sri Lanka
- Malabar Cements Ltd - India
- Riau Bara Harum - Indonesia
- Directorate Of Revenue Intelligence - India
- Alfred C Toepfer International GmbH - Germany
- Vedanta Resources Plc - India
- Bukit Baiduri Energy - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Maheswari Brothers Coal Limited - India
- Attock Cement Pakistan Limited
- Pipit Mutiara Jaya. PT, Indonesia
- Uttam Galva Steels Limited - India
- Sakthi Sugars Limited - India
- Holcim Trading Pte Ltd - Singapore
- Toyota Tsusho Corporation, Japan
- Semirara Mining and Power Corporation, Philippines
- Australian Coal Association
- Lanco Infratech Ltd - India
- Petron Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- Bukit Asam (Persero) Tbk - Indonesia
- Ambuja Cements Ltd - India
- Romanian Commodities Exchange
- SN Aboitiz Power Inc, Philippines
- Central Java Power - Indonesia
- Carbofer General Trading SA - India
- Ministry of Mines - Canada
- Jaiprakash Power Ventures ltd
- Sical Logistics Limited - India
- Indogreen Group - Indonesia
- Economic Council, Georgia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Rio Tinto Coal - Australia
- Thiess Contractors Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Siam City Cement PLC, Thailand
- Binh Thuan Hamico - Vietnam
- Electricity Authority, New Zealand
- Mintek Dendrill Indonesia
- Barasentosa Lestari - Indonesia
- Eastern Coal Council - USA
- Bharathi Cement Corporation - India
- European Bulk Services B.V. - Netherlands
- Africa Commodities Group - South Africa
- Chamber of Mines of South Africa
- Orica Mining Services - Indonesia
- Indian Oil Corporation Limited
- Coalindo Energy - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Aboitiz Power Corporation - Philippines
- Tamil Nadu electricity Board
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