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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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Thursday, 01 March 12
BUKIT ASAM TARGETS EUROPEAN INVESTORS
COALspot.com - PT. Bukit Asam (persero) Tbk, Indonesian state owned coal miner is planning to conduct road show in Europe next week to target at Eur ...
Thursday, 01 March 12
INDO-INDIA, LARGE ECO SUPRA CAN FETCH CLOSE TO USD 9K DOP N.CHINA - FEARNLEYS AS
Handy
The Atlantic Handysize market did not see any signs for recovery this week. It is still a major lack of spot cargoes and an oversupply of pro ...
Wednesday, 29 February 12
69 MINERS AGREE TO RENEGOTIATE CONTRACTS - THE JAKARTA POST
The Jakarta Post, one of the leading English news papaer in Indonesia reported that, as many as 60 coal contracts-of-work (PKP2B) and nine non-coal ...
Wednesday, 29 February 12
PUTTING COAL GASIFICATION TO WORK
Clifford Reese of the SSOE Group looks at practical solutions for district energy leaders who wish to implement clean coal technology.
Coal fuels ...
Monday, 27 February 12
COAL MINING PROFITS TOO HIGH, SAYS GOVT - TEMPO INTERACTIVE
Tempo Interactive reported that, Energy and Mineral Resources Deputy Minister of Indonesia Widjajono Partowidagdo has criticized coal-mining compani ...
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- White Energy Company Limited
- Lanco Infratech Ltd - India
- Ambuja Cements Ltd - India
- Attock Cement Pakistan Limited
- Alfred C Toepfer International GmbH - Germany
- Binh Thuan Hamico - Vietnam
- Billiton Holdings Pty Ltd - Australia
- Bangladesh Power Developement Board
- Grasim Industreis Ltd - India
- Anglo American - United Kingdom
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kalimantan Lumbung Energi - Indonesia
- IEA Clean Coal Centre - UK
- CIMB Investment Bank - Malaysia
- Salva Resources Pvt Ltd - India
- Kumho Petrochemical, South Korea
- Australian Commodity Traders Exchange
- Power Finance Corporation Ltd., India
- Global Coal Blending Company Limited - Australia
- Aboitiz Power Corporation - Philippines
- Standard Chartered Bank - UAE
- Directorate Of Revenue Intelligence - India
- Electricity Generating Authority of Thailand
- Sree Jayajothi Cements Limited - India
- VISA Power Limited - India
- Medco Energi Mining Internasional
- Uttam Galva Steels Limited - India
- Banpu Public Company Limited - Thailand
- Kapuas Tunggal Persada - Indonesia
- Ministry of Finance - Indonesia
- Parliament of New Zealand
- Merrill Lynch Commodities Europe
- Thai Mozambique Logistica
- Indika Energy - Indonesia
- McConnell Dowell - Australia
- Bhatia International Limited - India
- Manunggal Multi Energi - Indonesia
- Africa Commodities Group - South Africa
- Ind-Barath Power Infra Limited - India
- LBH Netherlands Bv - Netherlands
- Antam Resourcindo - Indonesia
- The Treasury - Australian Government
- South Luzon Thermal Energy Corporation
- Rashtriya Ispat Nigam Limited - India
- Meenaskhi Energy Private Limited - India
- India Bulls Power Limited - India
- Thiess Contractors Indonesia
- Barasentosa Lestari - Indonesia
- Makarim & Taira - Indonesia
- Commonwealth Bank - Australia
- Energy Development Corp, Philippines
- Sojitz Corporation - Japan
- Bukit Baiduri Energy - Indonesia
- The State Trading Corporation of India Ltd
- International Coal Ventures Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- Simpson Spence & Young - Indonesia
- Independent Power Producers Association of India
- Renaissance Capital - South Africa
- Karbindo Abesyapradhi - Indoneisa
- Mintek Dendrill Indonesia
- Global Green Power PLC Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Eastern Coal Council - USA
- Meralco Power Generation, Philippines
- Malabar Cements Ltd - India
- PTC India Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Carbofer General Trading SA - India
- Georgia Ports Authority, United States
- Port Waratah Coal Services - Australia
- Karaikal Port Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- Xindia Steels Limited - India
- Semirara Mining Corp, Philippines
- GMR Energy Limited - India
- Oldendorff Carriers - Singapore
- Wilmar Investment Holdings
- Mjunction Services Limited - India
- Siam City Cement - Thailand
- TeaM Sual Corporation - Philippines
- Miang Besar Coal Terminal - Indonesia
- Sarangani Energy Corporation, Philippines
- Wood Mackenzie - Singapore
- Singapore Mercantile Exchange
- SN Aboitiz Power Inc, Philippines
- Kohat Cement Company Ltd. - Pakistan
- PNOC Exploration Corporation - Philippines
- Baramulti Group, Indonesia
- PowerSource Philippines DevCo
- SMG Consultants - Indonesia
- Minerals Council of Australia
- Gujarat Sidhee Cement - India
- Indo Tambangraya Megah - Indonesia
- Larsen & Toubro Limited - India
- Orica Mining Services - Indonesia
- Metalloyd Limited - United Kingdom
- Timah Investasi Mineral - Indoneisa
- Bhoruka Overseas - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- SMC Global Power, Philippines
- Kaltim Prima Coal - Indonesia
- Price Waterhouse Coopers - Russia
- European Bulk Services B.V. - Netherlands
- Energy Link Ltd, New Zealand
- Heidelberg Cement - Germany
- Coalindo Energy - Indonesia
- Coal and Oil Company - UAE
- Intertek Mineral Services - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- Bahari Cakrawala Sebuku - Indonesia
- ASAPP Information Group - India
- Romanian Commodities Exchange
- Kartika Selabumi Mining - Indonesia
- Gujarat Electricity Regulatory Commission - India
- London Commodity Brokers - England
- Trasteel International SA, Italy
- Bukit Makmur.PT - Indonesia
- Jaiprakash Power Ventures ltd
- Planning Commission, India
- CNBM International Corporation - China
- TNB Fuel Sdn Bhd - Malaysia
- Cigading International Bulk Terminal - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Straits Asia Resources Limited - Singapore
- Central Electricity Authority - India
- Krishnapatnam Port Company Ltd. - India
- Tata Chemicals Ltd - India
- Kepco SPC Power Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- Toyota Tsusho Corporation, Japan
- Madhucon Powers Ltd - India
- OPG Power Generation Pvt Ltd - India
- Ministry of Transport, Egypt
- Latin American Coal - Colombia
- The University of Queensland
- Sinarmas Energy and Mining - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Globalindo Alam Lestari - Indonesia
- Petron Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Jindal Steel & Power Ltd - India
- Bulk Trading Sa - Switzerland
- Indonesian Coal Mining Association
- Mercator Lines Limited - India
- Parry Sugars Refinery, India
- Samtan Co., Ltd - South Korea
- Australian Coal Association
- Posco Energy - South Korea
- Maheswari Brothers Coal Limited - India
- Iligan Light & Power Inc, Philippines
- Sakthi Sugars Limited - India
- Cement Manufacturers Association - India
- Sical Logistics Limited - India
- Bhushan Steel Limited - India
- New Zealand Coal & Carbon
- Aditya Birla Group - India
- Sindya Power Generating Company Private Ltd
- Electricity Authority, New Zealand
- Pipit Mutiara Jaya. PT, Indonesia
- GAC Shipping (India) Pvt Ltd
- Chamber of Mines of South Africa
- Global Business Power Corporation, Philippines
- Riau Bara Harum - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Interocean Group of Companies - India
- MS Steel International - UAE
- Altura Mining Limited, Indonesia
- Indogreen Group - Indonesia
- Star Paper Mills Limited - India
- Formosa Plastics Group - Taiwan
- Goldman Sachs - Singapore
- Marubeni Corporation - India
- Borneo Indobara - Indonesia
- Kideco Jaya Agung - Indonesia
- Mercuria Energy - Indonesia
- Vizag Seaport Private Limited - India
- Edison Trading Spa - Italy
- San Jose City I Power Corp, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Offshore Bulk Terminal Pte Ltd, Singapore
- Leighton Contractors Pty Ltd - Australia
- Pendopo Energi Batubara - Indonesia
- Essar Steel Hazira Ltd - India
- Bharathi Cement Corporation - India
- Ministry of Mines - Canada
- Vedanta Resources Plc - India
- Economic Council, Georgia
- Indian Oil Corporation Limited
- GN Power Mariveles Coal Plant, Philippines
- Bayan Resources Tbk. - Indonesia
- Chettinad Cement Corporation Ltd - India
- Indian Energy Exchange, India
- Central Java Power - Indonesia
- Dalmia Cement Bharat India
- Semirara Mining and Power Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Deloitte Consulting - India
- Orica Australia Pty. Ltd.
- Coastal Gujarat Power Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Agrawal Coal Company - India
- Rio Tinto Coal - Australia
- Directorate General of MIneral and Coal - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- ICICI Bank Limited - India
- Tamil Nadu electricity Board
- Videocon Industries ltd - India
- Eastern Energy - Thailand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Siam City Cement PLC, Thailand
- Maharashtra Electricity Regulatory Commission - India
- GVK Power & Infra Limited - India
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