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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, 20 February 12
COAL BOOM AND ENVIRONMENTAL CONCERN - SUNIL K KUMBHAT
COALspot.com - The dawn of the 21st century has seen a shift in the world's commercial balance of power, with the dominance of the US, Europe and J ...
Sunday, 19 February 12
THE SPOT FIXTURE RATES WERE REPORTED AT HIGH LEVELS - VISTAAR
COALspot.com - "The markets seems to holding back this week appears the momentum which picked up last week may slow down" - Capt. Reddy of ...
Friday, 17 February 12
COLOMBIA COAL PRODUCTION, EXPORTS JUMP IN 2011: GOVT - COLOMBIA REPORTS
Colombia Reports reported that, colombia's coal production jumped 15.4% in 2011 to 85.8 million tonnes versus the previous year while exports rose ...
Thursday, 16 February 12
GEARING UP FOR THE EMERGING OIL & GAS OPPORTUNITIES IN MYANMAR
Press Release - Myanmar Ministry of Energy and Centre for Management Technology (CMT) to Co-host MOGP (Myanmar Oil, Gas & Power) Summit on 28 - ...
Wednesday, 15 February 12
HBA FOR FEB 2012, CLIMBS 2.09 PERCENT AND REACHED US$ 111.58 PER TON
COALspot.com - The Indonesian coal reference price for February climbs 2.09 percent to US$111.58 per ton after losing past three months. ...
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- Therma Luzon, Inc, Philippines
- Samtan Co., Ltd - South Korea
- Bayan Resources Tbk. - Indonesia
- South Luzon Thermal Energy Corporation
- Bukit Baiduri Energy - Indonesia
- Metalloyd Limited - United Kingdom
- Standard Chartered Bank - UAE
- Simpson Spence & Young - Indonesia
- Ceylon Electricity Board - Sri Lanka
- ASAPP Information Group - India
- Vizag Seaport Private Limited - India
- Maheswari Brothers Coal Limited - India
- Holcim Trading Pte Ltd - Singapore
- Bhoruka Overseas - Indonesia
- Central Electricity Authority - India
- Cement Manufacturers Association - India
- Ambuja Cements Ltd - India
- Baramulti Group, Indonesia
- Planning Commission, India
- Edison Trading Spa - Italy
- Renaissance Capital - South Africa
- Karaikal Port Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Port Waratah Coal Services - Australia
- Cigading International Bulk Terminal - Indonesia
- Madhucon Powers Ltd - India
- Essar Steel Hazira Ltd - India
- Georgia Ports Authority, United States
- Meralco Power Generation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- SMC Global Power, Philippines
- India Bulls Power Limited - India
- GVK Power & Infra Limited - India
- Mjunction Services Limited - India
- Iligan Light & Power Inc, Philippines
- GAC Shipping (India) Pvt Ltd
- Neyveli Lignite Corporation Ltd, - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Makarim & Taira - Indonesia
- Petron Corporation, Philippines
- London Commodity Brokers - England
- Bahari Cakrawala Sebuku - Indonesia
- San Jose City I Power Corp, Philippines
- Sarangani Energy Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- Gujarat Mineral Development Corp Ltd - India
- Oldendorff Carriers - Singapore
- Semirara Mining Corp, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Eastern Coal Council - USA
- Ministry of Transport, Egypt
- Rio Tinto Coal - Australia
- The Treasury - Australian Government
- Binh Thuan Hamico - Vietnam
- New Zealand Coal & Carbon
- Bangladesh Power Developement Board
- VISA Power Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Goldman Sachs - Singapore
- Tamil Nadu electricity Board
- Marubeni Corporation - India
- Orica Mining Services - Indonesia
- Star Paper Mills Limited - India
- Medco Energi Mining Internasional
- Kideco Jaya Agung - Indonesia
- Energy Development Corp, Philippines
- Chamber of Mines of South Africa
- Kohat Cement Company Ltd. - Pakistan
- Altura Mining Limited, Indonesia
- SMG Consultants - Indonesia
- Australian Commodity Traders Exchange
- Kumho Petrochemical, South Korea
- Bulk Trading Sa - Switzerland
- PTC India Limited - India
- Australian Coal Association
- Independent Power Producers Association of India
- Intertek Mineral Services - Indonesia
- Jindal Steel & Power Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- GMR Energy Limited - India
- Global Business Power Corporation, Philippines
- Uttam Galva Steels Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Heidelberg Cement - Germany
- TNB Fuel Sdn Bhd - Malaysia
- Indian Energy Exchange, India
- Grasim Industreis Ltd - India
- Central Java Power - Indonesia
- Energy Link Ltd, New Zealand
- Manunggal Multi Energi - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Commonwealth Bank - Australia
- Romanian Commodities Exchange
- Rashtriya Ispat Nigam Limited - India
- Bhushan Steel Limited - India
- Merrill Lynch Commodities Europe
- Sree Jayajothi Cements Limited - India
- Pendopo Energi Batubara - Indonesia
- White Energy Company Limited
- Anglo American - United Kingdom
- Sakthi Sugars Limited - India
- Straits Asia Resources Limited - Singapore
- Alfred C Toepfer International GmbH - Germany
- Parliament of New Zealand
- Semirara Mining and Power Corporation, Philippines
- Minerals Council of Australia
- Coalindo Energy - Indonesia
- Mercator Lines Limited - India
- OPG Power Generation Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Price Waterhouse Coopers - Russia
- Bharathi Cement Corporation - India
- Ministry of Mines - Canada
- Interocean Group of Companies - India
- Power Finance Corporation Ltd., India
- Tata Chemicals Ltd - India
- Kaltim Prima Coal - Indonesia
- European Bulk Services B.V. - Netherlands
- Karbindo Abesyapradhi - Indoneisa
- Eastern Energy - Thailand
- Wood Mackenzie - Singapore
- Salva Resources Pvt Ltd - India
- Malabar Cements Ltd - India
- Siam City Cement PLC, Thailand
- Miang Besar Coal Terminal - Indonesia
- Toyota Tsusho Corporation, Japan
- Kartika Selabumi Mining - Indonesia
- Thai Mozambique Logistica
- Electricity Authority, New Zealand
- Mintek Dendrill Indonesia
- Aditya Birla Group - India
- Vedanta Resources Plc - India
- Mercuria Energy - Indonesia
- McConnell Dowell - Australia
- Economic Council, Georgia
- Borneo Indobara - Indonesia
- Lanco Infratech Ltd - India
- Chettinad Cement Corporation Ltd - India
- Sojitz Corporation - Japan
- Ministry of Finance - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Agrawal Coal Company - India
- Timah Investasi Mineral - Indoneisa
- Latin American Coal - Colombia
- The State Trading Corporation of India Ltd
- Formosa Plastics Group - Taiwan
- Coal and Oil Company - UAE
- PNOC Exploration Corporation - Philippines
- IEA Clean Coal Centre - UK
- Aboitiz Power Corporation - Philippines
- Indika Energy - Indonesia
- Africa Commodities Group - South Africa
- Singapore Mercantile Exchange
- Jorong Barutama Greston.PT - Indonesia
- Jaiprakash Power Ventures ltd
- Leighton Contractors Pty Ltd - Australia
- Riau Bara Harum - Indonesia
- CIMB Investment Bank - Malaysia
- Meenaskhi Energy Private Limited - India
- Indonesian Coal Mining Association
- Barasentosa Lestari - Indonesia
- Carbofer General Trading SA - India
- Larsen & Toubro Limited - India
- Directorate Of Revenue Intelligence - India
- Kepco SPC Power Corporation, Philippines
- Wilmar Investment Holdings
- Global Green Power PLC Corporation, Philippines
- ICICI Bank Limited - India
- Billiton Holdings Pty Ltd - Australia
- TeaM Sual Corporation - Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- SN Aboitiz Power Inc, Philippines
- International Coal Ventures Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- Antam Resourcindo - Indonesia
- Sindya Power Generating Company Private Ltd
- Posco Energy - South Korea
- LBH Netherlands Bv - Netherlands
- PowerSource Philippines DevCo
- GN Power Mariveles Coal Plant, Philippines
- Dalmia Cement Bharat India
- Vijayanagar Sugar Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Videocon Industries ltd - India
- AsiaOL BioFuels Corp., Philippines
- Bukit Makmur.PT - Indonesia
- Gujarat Sidhee Cement - India
- CNBM International Corporation - China
- Parry Sugars Refinery, India
- Banpu Public Company Limited - Thailand
- Attock Cement Pakistan Limited
- Global Coal Blending Company Limited - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Savvy Resources Ltd - HongKong
- Deloitte Consulting - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Trasteel International SA, Italy
- IHS Mccloskey Coal Group - USA
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Orica Australia Pty. Ltd.
- Siam City Cement - Thailand
- Coastal Gujarat Power Limited - India
- Thiess Contractors Indonesia
- Bhatia International Limited - India
- Indogreen Group - Indonesia
- Electricity Generating Authority of Thailand
- Xindia Steels Limited - India
- The University of Queensland
- MS Steel International - UAE
- Sical Logistics Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Indian Oil Corporation Limited
- Krishnapatnam Port Company Ltd. - India
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