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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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Wednesday, 22 February 12
RAW COMMODITY EXPORT BAN SPARKS SMELTER BUILDING BOOM IN INDONESIA ANTARA / THE JAKARTA GLOBE
Antara / The Jakarta Globe reported that, as the government gears up to ban all exports of unprocessed commodities, Indonesia will see 12 new ...
Tuesday, 21 February 12
THREAT ISSUED ON MINERAL FIRMS AS GOVT PLANS EXPORT BAN - THE JAKARTA POST
The Jakarta Post, one of the leading english news papaer in Indonesia reported that, the government has given mineral producers three months to subm ...
Monday, 20 February 12
WEEKLY DRY MARKET OVERVIEW - MARIA BERTZELETOU
The dry market experienced one more disappointing week with tonnage oversupply and limited cargo demand that pushes earnings for shipping players to ...
Monday, 20 February 12
JATENERGY SECURES FIRST 8000-TONNE COAL SALES CONTRACT FOR JONGKANG MINES
8000-tonne contract with Singaporean buyer signed for March delivery
50% down payment due in five working days
Production continues at both Jongka ...
Monday, 20 February 12
DIAN SWASTATIKA ACQUIRES ANDALAN LESTARI - INSIDER STORIES
Insider Stories reported that, PT Dian Swastatika Sentosa Tbk (DSSA), controlled by Fuganto Widjaja, son of Indra Widjaja, reported a 99.83% takeove ...
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- Parliament of New Zealand
- Kumho Petrochemical, South Korea
- Oldendorff Carriers - Singapore
- Mintek Dendrill Indonesia
- Medco Energi Mining Internasional
- Directorate Of Revenue Intelligence - India
- Mercuria Energy - Indonesia
- Formosa Plastics Group - Taiwan
- Star Paper Mills Limited - India
- Port Waratah Coal Services - Australia
- Manunggal Multi Energi - Indonesia
- Deloitte Consulting - India
- Petrochimia International Co. Ltd.- Taiwan
- CIMB Investment Bank - Malaysia
- Kepco SPC Power Corporation, Philippines
- Carbofer General Trading SA - India
- Economic Council, Georgia
- Essar Steel Hazira Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Malabar Cements Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Eastern Energy - Thailand
- OPG Power Generation Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- European Bulk Services B.V. - Netherlands
- Dalmia Cement Bharat India
- Marubeni Corporation - India
- Power Finance Corporation Ltd., India
- McConnell Dowell - Australia
- GVK Power & Infra Limited - India
- Gujarat Electricity Regulatory Commission - India
- Timah Investasi Mineral - Indoneisa
- Ministry of Transport, Egypt
- Sarangani Energy Corporation, Philippines
- Thiess Contractors Indonesia
- Trasteel International SA, Italy
- Madhucon Powers Ltd - India
- Goldman Sachs - Singapore
- Wood Mackenzie - Singapore
- Vizag Seaport Private Limited - India
- Leighton Contractors Pty Ltd - Australia
- Billiton Holdings Pty Ltd - Australia
- Videocon Industries ltd - India
- Central Electricity Authority - India
- London Commodity Brokers - England
- Barasentosa Lestari - Indonesia
- Global Business Power Corporation, Philippines
- Interocean Group of Companies - India
- The Treasury - Australian Government
- Kohat Cement Company Ltd. - Pakistan
- Indian Energy Exchange, India
- Standard Chartered Bank - UAE
- TNB Fuel Sdn Bhd - Malaysia
- Kobexindo Tractors - Indoneisa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Neyveli Lignite Corporation Ltd, - India
- Semirara Mining Corp, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sakthi Sugars Limited - India
- Xindia Steels Limited - India
- White Energy Company Limited
- Romanian Commodities Exchange
- Agrawal Coal Company - India
- Pipit Mutiara Jaya. PT, Indonesia
- Cigading International Bulk Terminal - Indonesia
- Kartika Selabumi Mining - Indonesia
- Global Coal Blending Company Limited - Australia
- Wilmar Investment Holdings
- Bulk Trading Sa - Switzerland
- Makarim & Taira - Indonesia
- Simpson Spence & Young - Indonesia
- Africa Commodities Group - South Africa
- SMC Global Power, Philippines
- Indogreen Group - Indonesia
- Bhoruka Overseas - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Central Java Power - Indonesia
- Indika Energy - Indonesia
- Georgia Ports Authority, United States
- Globalindo Alam Lestari - Indonesia
- Baramulti Group, Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- MS Steel International - UAE
- Independent Power Producers Association of India
- Savvy Resources Ltd - HongKong
- Coastal Gujarat Power Limited - India
- Salva Resources Pvt Ltd - India
- Ministry of Finance - Indonesia
- Meralco Power Generation, Philippines
- Cement Manufacturers Association - India
- Semirara Mining and Power Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Aditya Birla Group - India
- Coalindo Energy - Indonesia
- Therma Luzon, Inc, Philippines
- Orica Australia Pty. Ltd.
- PowerSource Philippines DevCo
- Chamber of Mines of South Africa
- Edison Trading Spa - Italy
- India Bulls Power Limited - India
- Miang Besar Coal Terminal - Indonesia
- GMR Energy Limited - India
- Chettinad Cement Corporation Ltd - India
- Bukit Makmur.PT - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Renaissance Capital - South Africa
- Maheswari Brothers Coal Limited - India
- Bukit Baiduri Energy - Indonesia
- Ambuja Cements Ltd - India
- Australian Coal Association
- Australian Commodity Traders Exchange
- Straits Asia Resources Limited - Singapore
- Rio Tinto Coal - Australia
- The University of Queensland
- Tamil Nadu electricity Board
- Energy Link Ltd, New Zealand
- Tata Chemicals Ltd - India
- Samtan Co., Ltd - South Korea
- Altura Mining Limited, Indonesia
- PTC India Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Metalloyd Limited - United Kingdom
- Bhushan Steel Limited - India
- Latin American Coal - Colombia
- Maharashtra Electricity Regulatory Commission - India
- Holcim Trading Pte Ltd - Singapore
- Riau Bara Harum - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Energy Development Corp, Philippines
- Karaikal Port Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- Lanco Infratech Ltd - India
- Vedanta Resources Plc - India
- New Zealand Coal & Carbon
- Pendopo Energi Batubara - Indonesia
- IEA Clean Coal Centre - UK
- Orica Mining Services - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Sojitz Corporation - Japan
- Coal and Oil Company - UAE
- Planning Commission, India
- Uttam Galva Steels Limited - India
- Sree Jayajothi Cements Limited - India
- Ceylon Electricity Board - Sri Lanka
- Indo Tambangraya Megah - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Merrill Lynch Commodities Europe
- Bhatia International Limited - India
- GAC Shipping (India) Pvt Ltd
- Ministry of Mines - Canada
- IHS Mccloskey Coal Group - USA
- Antam Resourcindo - Indonesia
- SMG Consultants - Indonesia
- TeaM Sual Corporation - Philippines
- Price Waterhouse Coopers - Russia
- Bharathi Cement Corporation - India
- Larsen & Toubro Limited - India
- SN Aboitiz Power Inc, Philippines
- CNBM International Corporation - China
- Heidelberg Cement - Germany
- Mjunction Services Limited - India
- Global Green Power PLC Corporation, Philippines
- Siam City Cement PLC, Thailand
- Iligan Light & Power Inc, Philippines
- Thai Mozambique Logistica
- Aboitiz Power Corporation - Philippines
- Sinarmas Energy and Mining - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indian Oil Corporation Limited
- Parry Sugars Refinery, India
- Borneo Indobara - Indonesia
- Mercator Lines Limited - India
- Intertek Mineral Services - Indonesia
- Minerals Council of Australia
- PNOC Exploration Corporation - Philippines
- Grasim Industreis Ltd - India
- Siam City Cement - Thailand
- Petron Corporation, Philippines
- Posco Energy - South Korea
- The State Trading Corporation of India Ltd
- Gujarat Sidhee Cement - India
- Meenaskhi Energy Private Limited - India
- LBH Netherlands Bv - Netherlands
- Vijayanagar Sugar Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indonesian Coal Mining Association
- Kapuas Tunggal Persada - Indonesia
- Attock Cement Pakistan Limited
- ASAPP Information Group - India
- Bahari Cakrawala Sebuku - Indonesia
- Sindya Power Generating Company Private Ltd
- Singapore Mercantile Exchange
- Toyota Tsusho Corporation, Japan
- International Coal Ventures Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- ICICI Bank Limited - India
- Jindal Steel & Power Ltd - India
- Ind-Barath Power Infra Limited - India
- AsiaOL BioFuels Corp., Philippines
- Bangladesh Power Developement Board
- VISA Power Limited - India
- Anglo American - United Kingdom
- Jaiprakash Power Ventures ltd
- PetroVietnam Power Coal Import and Supply Company
- Sical Logistics Limited - India
- Electricity Generating Authority of Thailand
- Bayan Resources Tbk. - Indonesia
- Electricity Authority, New Zealand
- GN Power Mariveles Coal Plant, Philippines
- Banpu Public Company Limited - Thailand
- Kideco Jaya Agung - Indonesia
- San Jose City I Power Corp, Philippines
- Commonwealth Bank - Australia
- Eastern Coal Council - USA
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