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