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