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