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