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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, 27 February 12
INDONESIAN COAL EXPORTS TO CHINA DROPS 39.76 PERCENT IN JANUARY 2012
COALspot.com: Indonesia, the world largest coal exporter, shipped 28.21* mln mt of coal in January 2012, slightly lower than its December 2011 ...
Monday, 27 February 12
WEEKLY DRY MARKET OVERVIEW - MARIA BERTZELETOU, HELLENIC SHIPPING
The pessimism in the dry market persists with the Baltic Dry Index still trying to find a steady pace of growth and average time charter earnings fo ...
Sunday, 26 February 12
THE FREIGHT RATES FOR INDONESIA TO INDIA IS LIKELY TO BE FIRM FOR NEXT 2/3 WEEKS - VISTAAR
COALspot.com – “There was not much change in the BDI and other indices this week except for the Panamax which was down by 11.91 pc ...
Friday, 24 February 12
DRY BULK MARKET POSTS FIRST REBOUND IN A WEEK - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
As was expected since mid-week, the dry bulk market's benchmark, the BDI (Baltic Dry Index) has managed to put a stop in a 6-day losing rally, endi ...
Thursday, 23 February 12
2.5 PANAMAX VESSELS PER AVAILABLE CARGO FOR MARCH DATES - FEARN BULK
Handy
Another depressing week for Supras in both basins. Lack of fresh business and over-supply of tonnage in the Atlantic pushed rates south. Cont ...
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Showing 4836 to 4840 news of total 6871 |
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- Heidelberg Cement - Germany
- Posco Energy - South Korea
- Tata Chemicals Ltd - India
- Price Waterhouse Coopers - Russia
- Banpu Public Company Limited - Thailand
- Kalimantan Lumbung Energi - Indonesia
- Coal and Oil Company - UAE
- Asmin Koalindo Tuhup - Indonesia
- Karaikal Port Pvt Ltd - India
- Sojitz Corporation - Japan
- TeaM Sual Corporation - Philippines
- Miang Besar Coal Terminal - Indonesia
- Simpson Spence & Young - Indonesia
- Semirara Mining Corp, Philippines
- Kartika Selabumi Mining - Indonesia
- Attock Cement Pakistan Limited
- CNBM International Corporation - China
- AsiaOL BioFuels Corp., Philippines
- Interocean Group of Companies - India
- Bharathi Cement Corporation - India
- Dalmia Cement Bharat India
- Gujarat Sidhee Cement - India
- PowerSource Philippines DevCo
- Neyveli Lignite Corporation Ltd, - India
- Sakthi Sugars Limited - India
- Siam City Cement PLC, Thailand
- Intertek Mineral Services - Indonesia
- Mintek Dendrill Indonesia
- Bukit Makmur.PT - Indonesia
- Minerals Council of Australia
- Altura Mining Limited, Indonesia
- Commonwealth Bank - Australia
- Antam Resourcindo - Indonesia
- The State Trading Corporation of India Ltd
- Cement Manufacturers Association - India
- Latin American Coal - Colombia
- Electricity Generating Authority of Thailand
- Kumho Petrochemical, South Korea
- Makarim & Taira - Indonesia
- European Bulk Services B.V. - Netherlands
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Alfred C Toepfer International GmbH - Germany
- Indika Energy - Indonesia
- Bayan Resources Tbk. - Indonesia
- Sindya Power Generating Company Private Ltd
- Borneo Indobara - Indonesia
- Australian Commodity Traders Exchange
- Karbindo Abesyapradhi - Indoneisa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Siam City Cement - Thailand
- SMG Consultants - Indonesia
- Barasentosa Lestari - Indonesia
- Electricity Authority, New Zealand
- ICICI Bank Limited - India
- Australian Coal Association
- Africa Commodities Group - South Africa
- Videocon Industries ltd - India
- Eastern Coal Council - USA
- Pendopo Energi Batubara - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Ambuja Cements Ltd - India
- Wood Mackenzie - Singapore
- Independent Power Producers Association of India
- Jorong Barutama Greston.PT - Indonesia
- Goldman Sachs - Singapore
- Maharashtra Electricity Regulatory Commission - India
- Ministry of Transport, Egypt
- Globalindo Alam Lestari - Indonesia
- Sree Jayajothi Cements Limited - India
- Semirara Mining and Power Corporation, Philippines
- Deloitte Consulting - India
- Indonesian Coal Mining Association
- LBH Netherlands Bv - Netherlands
- Oldendorff Carriers - Singapore
- Renaissance Capital - South Africa
- Edison Trading Spa - Italy
- Vizag Seaport Private Limited - India
- SMC Global Power, Philippines
- Kapuas Tunggal Persada - Indonesia
- Global Business Power Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Chamber of Mines of South Africa
- Directorate General of MIneral and Coal - Indonesia
- Directorate Of Revenue Intelligence - India
- Jaiprakash Power Ventures ltd
- Sical Logistics Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Rashtriya Ispat Nigam Limited - India
- MS Steel International - UAE
- Bhatia International Limited - India
- Parry Sugars Refinery, India
- Planning Commission, India
- PTC India Limited - India
- Sinarmas Energy and Mining - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Lanco Infratech Ltd - India
- White Energy Company Limited
- Agrawal Coal Company - India
- Ceylon Electricity Board - Sri Lanka
- Timah Investasi Mineral - Indoneisa
- GMR Energy Limited - India
- Power Finance Corporation Ltd., India
- GVK Power & Infra Limited - India
- Global Green Power PLC Corporation, Philippines
- Formosa Plastics Group - Taiwan
- Mercuria Energy - Indonesia
- Baramulti Group, Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Grasim Industreis Ltd - India
- Petron Corporation, Philippines
- Metalloyd Limited - United Kingdom
- Indian Energy Exchange, India
- Vijayanagar Sugar Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Gujarat Mineral Development Corp Ltd - India
- Star Paper Mills Limited - India
- Leighton Contractors Pty Ltd - Australia
- Energy Development Corp, Philippines
- Standard Chartered Bank - UAE
- Singapore Mercantile Exchange
- Anglo American - United Kingdom
- Manunggal Multi Energi - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Savvy Resources Ltd - HongKong
- Port Waratah Coal Services - Australia
- Vedanta Resources Plc - India
- Thiess Contractors Indonesia
- The Treasury - Australian Government
- Bulk Trading Sa - Switzerland
- Ministry of Finance - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Meralco Power Generation, Philippines
- Central Java Power - Indonesia
- Meenaskhi Energy Private Limited - India
- Toyota Tsusho Corporation, Japan
- Asia Pacific Energy Resources Ventures Inc, Philippines
- CIMB Investment Bank - Malaysia
- GN Power Mariveles Coal Plant, Philippines
- Orica Mining Services - Indonesia
- London Commodity Brokers - England
- McConnell Dowell - Australia
- Bhoruka Overseas - Indonesia
- VISA Power Limited - India
- Eastern Energy - Thailand
- Mjunction Services Limited - India
- Binh Thuan Hamico - Vietnam
- Kobexindo Tractors - Indoneisa
- Trasteel International SA, Italy
- Malabar Cements Ltd - India
- Samtan Co., Ltd - South Korea
- Bukit Baiduri Energy - Indonesia
- Romanian Commodities Exchange
- Orica Australia Pty. Ltd.
- India Bulls Power Limited - India
- International Coal Ventures Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- Xindia Steels Limited - India
- Economic Council, Georgia
- Larsen & Toubro Limited - India
- Iligan Light & Power Inc, Philippines
- Chettinad Cement Corporation Ltd - India
- OPG Power Generation Pvt Ltd - India
- Georgia Ports Authority, United States
- Ind-Barath Power Infra Limited - India
- San Jose City I Power Corp, Philippines
- Kideco Jaya Agung - Indonesia
- Maheswari Brothers Coal Limited - India
- SN Aboitiz Power Inc, Philippines
- Cigading International Bulk Terminal - Indonesia
- Wilmar Investment Holdings
- Jindal Steel & Power Ltd - India
- Marubeni Corporation - India
- Indian Oil Corporation Limited
- Petrochimia International Co. Ltd.- Taiwan
- IEA Clean Coal Centre - UK
- Rio Tinto Coal - Australia
- Mercator Lines Limited - India
- Ministry of Mines - Canada
- Aboitiz Power Corporation - Philippines
- Krishnapatnam Port Company Ltd. - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Parliament of New Zealand
- Central Electricity Authority - India
- Medco Energi Mining Internasional
- Indogreen Group - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sarangani Energy Corporation, Philippines
- Salva Resources Pvt Ltd - India
- Bangladesh Power Developement Board
- Uttam Galva Steels Limited - India
- Merrill Lynch Commodities Europe
- Kaltim Prima Coal - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Essar Steel Hazira Ltd - India
- Straits Asia Resources Limited - Singapore
- Global Coal Blending Company Limited - Australia
- The University of Queensland
- Coalindo Energy - Indonesia
- Madhucon Powers Ltd - India
- Thai Mozambique Logistica
- Carbofer General Trading SA - India
- Indo Tambangraya Megah - Indonesia
- PNOC Exploration Corporation - Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Tamil Nadu electricity Board
- Energy Link Ltd, New Zealand
- Riau Bara Harum - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Coastal Gujarat Power Limited - India
- South Luzon Thermal Energy Corporation
- Aditya Birla Group - India
- New Zealand Coal & Carbon
- Kepco SPC Power Corporation, Philippines
- ASAPP Information Group - India
- GAC Shipping (India) Pvt Ltd
- Bhushan Steel Limited - India
- IHS Mccloskey Coal Group - USA
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