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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, 13 February 12
WEEKLY DRY MARKET OVERVIEW - MARIA BERTZELETOU, HELLENIC SHIPPING
The current sentiment in the dry market resembles memories from the end of 2008, when the Baltic Dry Index closed at the level of 663 points on Dece ...
Sunday, 12 February 12
INDONESIA HAS ISSUED A REGULATION TO BAN THE EXPORT OF UNPROCESSED MINERALS AND METALS BY 2014
COALspot.com - The Indonesian government has finally issued a ministerial decree (7 Year 2012 dated 6 February 2012) to ban the export of unpro ...
Sunday, 12 February 12
THE BALTIC DRY INDEX CLIMBS 10.51%
COALspot.com - "The markets touched record lows not seen since mid 80’s. However there was some good news with signs of market recovery a ...
Saturday, 11 February 12
A SNAPSHOT ON THE ECONOMIC AND SHIPPING ENVIRONMENT - GOLDEN DESTINY
The week was highlighted with intense worries in the eurozone for Greece to secure its second bailout of $130billion by applying a ...
Saturday, 11 February 12
WILL HISTORY REPEAT ITSELF IN THIS SHIPPING CYCLE? - CLARKSONS / HELLENIC SHIPPING
A slightly dubious "best man" joke runs as follows… Best man (giving his wedding speech): "Have you noticed how history repeat ...
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- Coastal Gujarat Power Limited - India
- Energy Link Ltd, New Zealand
- OPG Power Generation Pvt Ltd - India
- Attock Cement Pakistan Limited
- Straits Asia Resources Limited - Singapore
- Xindia Steels Limited - India
- Aboitiz Power Corporation - Philippines
- PTC India Limited - India
- Eastern Coal Council - USA
- Electricity Authority, New Zealand
- Heidelberg Cement - Germany
- Medco Energi Mining Internasional
- Asmin Koalindo Tuhup - Indonesia
- Indika Energy - Indonesia
- Simpson Spence & Young - Indonesia
- GVK Power & Infra Limited - India
- Bukit Makmur.PT - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Goldman Sachs - Singapore
- Iligan Light & Power Inc, Philippines
- Interocean Group of Companies - India
- Independent Power Producers Association of India
- Jaiprakash Power Ventures ltd
- TNB Fuel Sdn Bhd - Malaysia
- Edison Trading Spa - Italy
- Holcim Trading Pte Ltd - Singapore
- Formosa Plastics Group - Taiwan
- CNBM International Corporation - China
- Samtan Co., Ltd - South Korea
- Maharashtra Electricity Regulatory Commission - India
- Globalindo Alam Lestari - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Lanco Infratech Ltd - India
- Agrawal Coal Company - India
- Kumho Petrochemical, South Korea
- Thiess Contractors Indonesia
- Indogreen Group - Indonesia
- New Zealand Coal & Carbon
- Wilmar Investment Holdings
- TeaM Sual Corporation - Philippines
- Barasentosa Lestari - Indonesia
- Sindya Power Generating Company Private Ltd
- India Bulls Power Limited - India
- Standard Chartered Bank - UAE
- Posco Energy - South Korea
- Siam City Cement - Thailand
- McConnell Dowell - Australia
- Gujarat Mineral Development Corp Ltd - India
- Bhoruka Overseas - Indonesia
- VISA Power Limited - India
- Alfred C Toepfer International GmbH - Germany
- SMG Consultants - Indonesia
- Power Finance Corporation Ltd., India
- ASAPP Information Group - India
- Indian Energy Exchange, India
- Kepco SPC Power Corporation, Philippines
- Ambuja Cements Ltd - India
- Global Green Power PLC Corporation, Philippines
- Savvy Resources Ltd - HongKong
- Eastern Energy - Thailand
- Therma Luzon, Inc, Philippines
- Commonwealth Bank - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Grasim Industreis Ltd - India
- Parry Sugars Refinery, India
- IEA Clean Coal Centre - UK
- London Commodity Brokers - England
- LBH Netherlands Bv - Netherlands
- Madhucon Powers Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Australian Coal Association
- PetroVietnam Power Coal Import and Supply Company
- The State Trading Corporation of India Ltd
- Manunggal Multi Energi - Indonesia
- Coalindo Energy - Indonesia
- PNOC Exploration Corporation - Philippines
- Indonesian Coal Mining Association
- Kideco Jaya Agung - Indonesia
- Mercator Lines Limited - India
- Sinarmas Energy and Mining - Indonesia
- Uttam Galva Steels Limited - India
- Central Electricity Authority - India
- Chettinad Cement Corporation Ltd - India
- Thai Mozambique Logistica
- IHS Mccloskey Coal Group - USA
- Videocon Industries ltd - India
- Petron Corporation, Philippines
- Antam Resourcindo - Indonesia
- Toyota Tsusho Corporation, Japan
- Marubeni Corporation - India
- Aditya Birla Group - India
- CIMB Investment Bank - Malaysia
- Ministry of Transport, Egypt
- Mjunction Services Limited - India
- Essar Steel Hazira Ltd - India
- Merrill Lynch Commodities Europe
- Global Coal Blending Company Limited - Australia
- Pendopo Energi Batubara - Indonesia
- Sakthi Sugars Limited - India
- Africa Commodities Group - South Africa
- Georgia Ports Authority, United States
- Sree Jayajothi Cements Limited - India
- Mintek Dendrill Indonesia
- Mercuria Energy - Indonesia
- Star Paper Mills Limited - India
- Bharathi Cement Corporation - India
- Orica Mining Services - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Indo Tambangraya Megah - Indonesia
- Larsen & Toubro Limited - India
- Tata Chemicals Ltd - India
- International Coal Ventures Pvt Ltd - India
- Port Waratah Coal Services - Australia
- Bahari Cakrawala Sebuku - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Latin American Coal - Colombia
- Directorate Of Revenue Intelligence - India
- Rio Tinto Coal - Australia
- Jorong Barutama Greston.PT - Indonesia
- White Energy Company Limited
- Kalimantan Lumbung Energi - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Singapore Mercantile Exchange
- Gujarat Electricity Regulatory Commission - India
- Miang Besar Coal Terminal - Indonesia
- Ministry of Mines - Canada
- Trasteel International SA, Italy
- Karaikal Port Pvt Ltd - India
- Malabar Cements Ltd - India
- Ind-Barath Power Infra Limited - India
- Dalmia Cement Bharat India
- Bhushan Steel Limited - India
- Kartika Selabumi Mining - Indonesia
- Metalloyd Limited - United Kingdom
- MS Steel International - UAE
- Vijayanagar Sugar Pvt Ltd - India
- GMR Energy Limited - India
- Meralco Power Generation, Philippines
- Planning Commission, India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Timah Investasi Mineral - Indoneisa
- Binh Thuan Hamico - Vietnam
- Bukit Asam (Persero) Tbk - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Energy Development Corp, Philippines
- Sical Logistics Limited - India
- Wood Mackenzie - Singapore
- Price Waterhouse Coopers - Russia
- Renaissance Capital - South Africa
- Bhatia International Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sojitz Corporation - Japan
- Bangladesh Power Developement Board
- Kobexindo Tractors - Indoneisa
- Maheswari Brothers Coal Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Krishnapatnam Port Company Ltd. - India
- Riau Bara Harum - Indonesia
- Oldendorff Carriers - Singapore
- Orica Australia Pty. Ltd.
- South Luzon Thermal Energy Corporation
- Bulk Trading Sa - Switzerland
- Coal and Oil Company - UAE
- Semirara Mining Corp, Philippines
- Global Business Power Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- Vizag Seaport Private Limited - India
- Indian Oil Corporation Limited
- Bayan Resources Tbk. - Indonesia
- Minerals Council of Australia
- Semirara Mining and Power Corporation, Philippines
- Borneo Indobara - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Directorate General of MIneral and Coal - Indonesia
- Siam City Cement PLC, Thailand
- Deloitte Consulting - India
- PowerSource Philippines DevCo
- Pipit Mutiara Jaya. PT, Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Vedanta Resources Plc - India
- Romanian Commodities Exchange
- Altura Mining Limited, Indonesia
- Cigading International Bulk Terminal - Indonesia
- Chamber of Mines of South Africa
- Kapuas Tunggal Persada - Indonesia
- GAC Shipping (India) Pvt Ltd
- The University of Queensland
- Meenaskhi Energy Private Limited - India
- Salva Resources Pvt Ltd - India
- Parliament of New Zealand
- Ceylon Electricity Board - Sri Lanka
- Cement Manufacturers Association - India
- Carbofer General Trading SA - India
- Australian Commodity Traders Exchange
- San Jose City I Power Corp, Philippines
- Kaltim Prima Coal - Indonesia
- Baramulti Group, Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- ICICI Bank Limited - India
- Economic Council, Georgia
- SN Aboitiz Power Inc, Philippines
- Banpu Public Company Limited - Thailand
- Sarangani Energy Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- Gujarat Sidhee Cement - India
- Makarim & Taira - Indonesia
- Electricity Generating Authority of Thailand
- Tamil Nadu electricity Board
- Ministry of Finance - Indonesia
- Central Java Power - Indonesia
- Anglo American - United Kingdom
- Asia Pacific Energy Resources Ventures Inc, Philippines
- The Treasury - Australian Government
- Jindal Steel & Power Ltd - India
- Intertek Mineral Services - Indonesia
- SMC Global Power, Philippines
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