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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, 05 March 12
SOUTHGOBI ANNOUNCES AGREEMENT TO SELL ITS THERMAL COAL TSAGAAN TOLGOI DEPOSIT FOR US$ 30 MILLION
SouthGobi Resources Ltd. (TSX: SGQ, HK: 1878) announced today an agreement to sell its thermal coal property, the Tsagaan Tolgoi Deposit to Modun Re ...
Monday, 05 March 12
SOME RESOURCE TITANS NOT THRILLED WITH INDONESIAN EXPORT BAN - THE JAKARTA GLOBE
The Jakarta Globe reported that, local representatives of major business associations in East Kalimantan have protested a government regulation that ...
Monday, 05 March 12
WEEKLY DRY MARKET OVERVIEW - MARIA BERTZELETOU, HELLENIC SHIPPING
An air of optimism poured in the market this week for dry bulk shippers with the Baltic Dry Index recording daily gains during the end of February b ...
Sunday, 04 March 12
SE ASIA WAS FIRM FOR TRIPS TO INDIA AND CHINA - VISTAAR
COALspot.com - This week saw another upward trend with all indices up and generally market was firm.
The BDI was up by 7.38 pct closing at 771 po ...
Friday, 02 March 12
DJMBP HAS ANNOUNCED SECOND BATCH OF CLEAR N CLEAN CERTIFIED MINERS
COALspot.com - The Directorate general of mineral & coal of Indonesia has announced second batch of companies who have passed IUP Clear and Clea ...
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Showing 4826 to 4830 news of total 6871 |
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- Bukit Baiduri Energy - Indonesia
- Therma Luzon, Inc, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Orica Mining Services - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Essar Steel Hazira Ltd - India
- Georgia Ports Authority, United States
- London Commodity Brokers - England
- Sindya Power Generating Company Private Ltd
- Sakthi Sugars Limited - India
- Energy Link Ltd, New Zealand
- Deloitte Consulting - India
- Orica Australia Pty. Ltd.
- The State Trading Corporation of India Ltd
- Tamil Nadu electricity Board
- Gujarat Electricity Regulatory Commission - India
- Petron Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Uttam Galva Steels Limited - India
- Bhatia International Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Bhoruka Overseas - Indonesia
- Wood Mackenzie - Singapore
- Global Business Power Corporation, Philippines
- Parliament of New Zealand
- Iligan Light & Power Inc, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Cement Manufacturers Association - India
- Manunggal Multi Energi - Indonesia
- Globalindo Alam Lestari - Indonesia
- Mercuria Energy - Indonesia
- International Coal Ventures Pvt Ltd - India
- Parry Sugars Refinery, India
- Anglo American - United Kingdom
- Sical Logistics Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Maheswari Brothers Coal Limited - India
- Edison Trading Spa - Italy
- Karbindo Abesyapradhi - Indoneisa
- Carbofer General Trading SA - India
- Bhushan Steel Limited - India
- Bayan Resources Tbk. - Indonesia
- Independent Power Producers Association of India
- Madhucon Powers Ltd - India
- Wilmar Investment Holdings
- Central Electricity Authority - India
- Electricity Generating Authority of Thailand
- Australian Coal Association
- Commonwealth Bank - Australia
- Formosa Plastics Group - Taiwan
- Indika Energy - Indonesia
- Minerals Council of Australia
- Lanco Infratech Ltd - India
- India Bulls Power Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Makarim & Taira - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Thiess Contractors Indonesia
- Indian Oil Corporation Limited
- Kalimantan Lumbung Energi - Indonesia
- IEA Clean Coal Centre - UK
- Semirara Mining and Power Corporation, Philippines
- Dalmia Cement Bharat India
- Romanian Commodities Exchange
- GAC Shipping (India) Pvt Ltd
- Australian Commodity Traders Exchange
- Jindal Steel & Power Ltd - India
- Mercator Lines Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Port Waratah Coal Services - Australia
- Goldman Sachs - Singapore
- Alfred C Toepfer International GmbH - Germany
- PowerSource Philippines DevCo
- Vijayanagar Sugar Pvt Ltd - India
- Ambuja Cements Ltd - India
- PNOC Exploration Corporation - Philippines
- Heidelberg Cement - Germany
- South Luzon Thermal Energy Corporation
- Semirara Mining Corp, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- MS Steel International - UAE
- Africa Commodities Group - South Africa
- The University of Queensland
- Vedanta Resources Plc - India
- Billiton Holdings Pty Ltd - Australia
- Altura Mining Limited, Indonesia
- Coastal Gujarat Power Limited - India
- Ceylon Electricity Board - Sri Lanka
- Electricity Authority, New Zealand
- Ministry of Finance - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Global Coal Blending Company Limited - Australia
- Banpu Public Company Limited - Thailand
- Sarangani Energy Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- Marubeni Corporation - India
- Latin American Coal - Colombia
- Simpson Spence & Young - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Samtan Co., Ltd - South Korea
- Sojitz Corporation - Japan
- Bulk Trading Sa - Switzerland
- Larsen & Toubro Limited - India
- Toyota Tsusho Corporation, Japan
- Kumho Petrochemical, South Korea
- Interocean Group of Companies - India
- Chettinad Cement Corporation Ltd - India
- Pendopo Energi Batubara - Indonesia
- Gujarat Sidhee Cement - India
- European Bulk Services B.V. - Netherlands
- Star Paper Mills Limited - India
- Price Waterhouse Coopers - Russia
- Asmin Koalindo Tuhup - Indonesia
- Jaiprakash Power Ventures ltd
- Miang Besar Coal Terminal - Indonesia
- CIMB Investment Bank - Malaysia
- Kideco Jaya Agung - Indonesia
- Savvy Resources Ltd - HongKong
- AsiaOL BioFuels Corp., Philippines
- Jorong Barutama Greston.PT - Indonesia
- Coal and Oil Company - UAE
- Salva Resources Pvt Ltd - India
- Vizag Seaport Private Limited - India
- Straits Asia Resources Limited - Singapore
- GMR Energy Limited - India
- ASAPP Information Group - India
- Videocon Industries ltd - India
- Borneo Indobara - Indonesia
- Malabar Cements Ltd - India
- PTC India Limited - India
- Trasteel International SA, Italy
- Kepco SPC Power Corporation, Philippines
- GVK Power & Infra Limited - India
- LBH Netherlands Bv - Netherlands
- Eastern Energy - Thailand
- Sree Jayajothi Cements Limited - India
- Grasim Industreis Ltd - India
- Power Finance Corporation Ltd., India
- Eastern Coal Council - USA
- CNBM International Corporation - China
- Karaikal Port Pvt Ltd - India
- Siam City Cement PLC, Thailand
- OPG Power Generation Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- McConnell Dowell - Australia
- Economic Council, Georgia
- ICICI Bank Limited - India
- Indo Tambangraya Megah - Indonesia
- TeaM Sual Corporation - Philippines
- Metalloyd Limited - United Kingdom
- The Treasury - Australian Government
- Ministry of Transport, Egypt
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Chamber of Mines of South Africa
- Mintek Dendrill Indonesia
- Kobexindo Tractors - Indoneisa
- San Jose City I Power Corp, Philippines
- Binh Thuan Hamico - Vietnam
- Bukit Makmur.PT - Indonesia
- Central Java Power - Indonesia
- Medco Energi Mining Internasional
- Antam Resourcindo - Indonesia
- SMG Consultants - Indonesia
- Siam City Cement - Thailand
- Ministry of Mines - Canada
- Attock Cement Pakistan Limited
- SMC Global Power, Philippines
- Aboitiz Power Corporation - Philippines
- Oldendorff Carriers - Singapore
- Coalindo Energy - Indonesia
- Bharathi Cement Corporation - India
- Merrill Lynch Commodities Europe
- Indian Energy Exchange, India
- Leighton Contractors Pty Ltd - Australia
- Cigading International Bulk Terminal - Indonesia
- Directorate Of Revenue Intelligence - India
- Directorate General of MIneral and Coal - Indonesia
- Meenaskhi Energy Private Limited - India
- Rio Tinto Coal - Australia
- Singapore Mercantile Exchange
- Bangladesh Power Developement Board
- Petrochimia International Co. Ltd.- Taiwan
- New Zealand Coal & Carbon
- Indonesian Coal Mining Association
- Kartika Selabumi Mining - Indonesia
- SN Aboitiz Power Inc, Philippines
- Meralco Power Generation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Global Green Power PLC Corporation, Philippines
- Planning Commission, India
- Agrawal Coal Company - India
- Barasentosa Lestari - Indonesia
- VISA Power Limited - India
- Indogreen Group - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Bukit Asam (Persero) Tbk - Indonesia
- Intertek Mineral Services - Indonesia
- Renaissance Capital - South Africa
- Riau Bara Harum - Indonesia
- IHS Mccloskey Coal Group - USA
- Neyveli Lignite Corporation Ltd, - India
- Krishnapatnam Port Company Ltd. - India
- Xindia Steels Limited - India
- Baramulti Group, Indonesia
- Tata Chemicals Ltd - India
- Thai Mozambique Logistica
- Timah Investasi Mineral - Indoneisa
- Mjunction Services Limited - India
- Aditya Birla Group - India
- Standard Chartered Bank - UAE
- Posco Energy - South Korea
- White Energy Company Limited
- Energy Development Corp, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Ind-Barath Power Infra Limited - India
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