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