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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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Showing 4821 to 4825 news of total 6871 |
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- Price Waterhouse Coopers - Russia
- Grasim Industreis Ltd - India
- Simpson Spence & Young - Indonesia
- Coal and Oil Company - UAE
- Neyveli Lignite Corporation Ltd, - India
- Siam City Cement - Thailand
- Bhushan Steel Limited - India
- Kapuas Tunggal Persada - Indonesia
- Dalmia Cement Bharat India
- Indo Tambangraya Megah - Indonesia
- ASAPP Information Group - India
- Attock Cement Pakistan Limited
- Gujarat Electricity Regulatory Commission - India
- Sindya Power Generating Company Private Ltd
- McConnell Dowell - Australia
- Maheswari Brothers Coal Limited - India
- South Luzon Thermal Energy Corporation
- Commonwealth Bank - Australia
- Pendopo Energi Batubara - Indonesia
- Georgia Ports Authority, United States
- Madhucon Powers Ltd - India
- Africa Commodities Group - South Africa
- AsiaOL BioFuels Corp., Philippines
- Banpu Public Company Limited - Thailand
- Alfred C Toepfer International GmbH - Germany
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Vedanta Resources Plc - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- PNOC Exploration Corporation - Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Romanian Commodities Exchange
- Kartika Selabumi Mining - Indonesia
- Electricity Authority, New Zealand
- CNBM International Corporation - China
- IEA Clean Coal Centre - UK
- Coalindo Energy - Indonesia
- Jaiprakash Power Ventures ltd
- Gujarat Mineral Development Corp Ltd - India
- Kaltim Prima Coal - Indonesia
- Baramulti Group, Indonesia
- Jindal Steel & Power Ltd - India
- Ambuja Cements Ltd - India
- London Commodity Brokers - England
- PTC India Limited - India
- SMG Consultants - Indonesia
- OPG Power Generation Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- PowerSource Philippines DevCo
- Bahari Cakrawala Sebuku - Indonesia
- Power Finance Corporation Ltd., India
- SMC Global Power, Philippines
- Essar Steel Hazira Ltd - India
- Global Coal Blending Company Limited - Australia
- Billiton Holdings Pty Ltd - Australia
- Aditya Birla Group - India
- Savvy Resources Ltd - HongKong
- Ind-Barath Power Infra Limited - India
- Rio Tinto Coal - Australia
- Independent Power Producers Association of India
- Singapore Mercantile Exchange
- Trasteel International SA, Italy
- Ceylon Electricity Board - Sri Lanka
- Samtan Co., Ltd - South Korea
- Maharashtra Electricity Regulatory Commission - India
- VISA Power Limited - India
- Indian Oil Corporation Limited
- Carbofer General Trading SA - India
- Port Waratah Coal Services - Australia
- Indika Energy - Indonesia
- IHS Mccloskey Coal Group - USA
- Bharathi Cement Corporation - India
- LBH Netherlands Bv - Netherlands
- Indian Energy Exchange, India
- Ministry of Transport, Egypt
- Mercuria Energy - Indonesia
- TeaM Sual Corporation - Philippines
- Indonesian Coal Mining Association
- India Bulls Power Limited - India
- Cigading International Bulk Terminal - Indonesia
- ICICI Bank Limited - India
- Mercator Lines Limited - India
- Renaissance Capital - South Africa
- GN Power Mariveles Coal Plant, Philippines
- Mjunction Services Limited - India
- MS Steel International - UAE
- Chettinad Cement Corporation Ltd - India
- Mintek Dendrill Indonesia
- Standard Chartered Bank - UAE
- Straits Asia Resources Limited - Singapore
- Kideco Jaya Agung - Indonesia
- Orica Australia Pty. Ltd.
- Therma Luzon, Inc, Philippines
- Sakthi Sugars Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- International Coal Ventures Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- Thai Mozambique Logistica
- GMR Energy Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Economic Council, Georgia
- Malabar Cements Ltd - India
- The University of Queensland
- Wood Mackenzie - Singapore
- Timah Investasi Mineral - Indoneisa
- GAC Shipping (India) Pvt Ltd
- Kumho Petrochemical, South Korea
- Thiess Contractors Indonesia
- Ministry of Finance - Indonesia
- Merrill Lynch Commodities Europe
- Vizag Seaport Private Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Central Electricity Authority - India
- Semirara Mining and Power Corporation, Philippines
- Minerals Council of Australia
- Orica Mining Services - Indonesia
- Borneo Indobara - Indonesia
- Sical Logistics Limited - India
- Sinarmas Energy and Mining - Indonesia
- Cement Manufacturers Association - India
- Energy Link Ltd, New Zealand
- Karaikal Port Pvt Ltd - India
- Global Business Power Corporation, Philippines
- San Jose City I Power Corp, Philippines
- Rashtriya Ispat Nigam Limited - India
- Bayan Resources Tbk. - Indonesia
- Kepco SPC Power Corporation, Philippines
- CIMB Investment Bank - Malaysia
- Australian Commodity Traders Exchange
- Kobexindo Tractors - Indoneisa
- Ministry of Mines - Canada
- Petrochimia International Co. Ltd.- Taiwan
- Meralco Power Generation, Philippines
- Semirara Mining Corp, Philippines
- Siam City Cement PLC, Thailand
- Agrawal Coal Company - India
- Jorong Barutama Greston.PT - Indonesia
- Toyota Tsusho Corporation, Japan
- Heidelberg Cement - Germany
- Indogreen Group - Indonesia
- Formosa Plastics Group - Taiwan
- Chamber of Mines of South Africa
- The State Trading Corporation of India Ltd
- Binh Thuan Hamico - Vietnam
- Eastern Coal Council - USA
- Antam Resourcindo - Indonesia
- Tata Chemicals Ltd - India
- Makarim & Taira - Indonesia
- Lanco Infratech Ltd - India
- Marubeni Corporation - India
- Holcim Trading Pte Ltd - Singapore
- New Zealand Coal & Carbon
- Miang Besar Coal Terminal - Indonesia
- The Treasury - Australian Government
- Latin American Coal - Colombia
- Directorate Of Revenue Intelligence - India
- Xindia Steels Limited - India
- Barasentosa Lestari - Indonesia
- Eastern Energy - Thailand
- Manunggal Multi Energi - Indonesia
- Bulk Trading Sa - Switzerland
- Intertek Mineral Services - Indonesia
- Coastal Gujarat Power Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Edison Trading Spa - Italy
- Sarangani Energy Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Medco Energi Mining Internasional
- Tamil Nadu electricity Board
- Asmin Koalindo Tuhup - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Gujarat Sidhee Cement - India
- Anglo American - United Kingdom
- Petron Corporation, Philippines
- Bangladesh Power Developement Board
- Riau Bara Harum - Indonesia
- Iligan Light & Power Inc, Philippines
- Uttam Galva Steels Limited - India
- Oldendorff Carriers - Singapore
- TNB Fuel Sdn Bhd - Malaysia
- PetroVietnam Power Coal Import and Supply Company
- Interocean Group of Companies - India
- Bukit Baiduri Energy - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Larsen & Toubro Limited - India
- Star Paper Mills Limited - India
- Energy Development Corp, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Metalloyd Limited - United Kingdom
- Bukit Makmur.PT - Indonesia
- Posco Energy - South Korea
- Videocon Industries ltd - India
- Aboitiz Power Corporation - Philippines
- Planning Commission, India
- Wilmar Investment Holdings
- Meenaskhi Energy Private Limited - India
- Parry Sugars Refinery, India
- Central Java Power - Indonesia
- Deloitte Consulting - India
- Goldman Sachs - Singapore
- Kalimantan Lumbung Energi - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- European Bulk Services B.V. - Netherlands
- Globalindo Alam Lestari - Indonesia
- Altura Mining Limited, Indonesia
- GVK Power & Infra Limited - India
- Global Green Power PLC Corporation, Philippines
- Australian Coal Association
- Bhatia International Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Parliament of New Zealand
- White Energy Company Limited
- Electricity Generating Authority of Thailand
- Bhoruka Overseas - Indonesia
- Salva Resources Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Sojitz Corporation - Japan
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