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