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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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Friday, 10 February 12
TONNAGE KEEPS ON COMING - DREWRY
Drewry Maritime Research’s latest edition of its Dry Bulk Forecaster pulls no punches in its assessment of a market that looks certain to cont ...
Friday, 10 February 12
GIVE PERMIT POWERS TO GOVERNORS: MINERS - THE JAKARTA POST
The Jakarta Post reported that, following clashes between mining companies and local residents, the Indonesian Mining Association (IMA) wants to tra ...
Thursday, 09 February 12
AUSTRALIA'S EPIC TO ACQUIRE 15,500 HA COAL EXPLORATION LICENCES IN EAST KALIMANTAN, INDONESIA
COALspot.com - Epic Resources Limited to acquire two coal concessions in Kutai Barat regency, East Kalimantan, Indonesia.
According to company's ...
Thursday, 09 February 12
RESOURCE ALAM BUYS 28,521HA CONCESSIONS - INSIDER STORIES
Insider Stories reported that, PT Resource Alam Indonesia Tbk (KKGI), owned by Adijanto family, today announced acquisition of 75% interest in PT Ka ...
Tuesday, 07 February 12
DRY BULK MARKET FINALLY STOPS DECLINE, POSTS FIRST RISE IN MORE THAN A MONTH - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
After falling to near record lows, not seen since the mid-80s the dry bulk market has finally stopped its path to "hell", with the industr ...
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- Tamil Nadu electricity Board
- McConnell Dowell - Australia
- Vedanta Resources Plc - India
- Star Paper Mills Limited - India
- Therma Luzon, Inc, Philippines
- SMG Consultants - Indonesia
- Savvy Resources Ltd - HongKong
- Bahari Cakrawala Sebuku - Indonesia
- PNOC Exploration Corporation - Philippines
- Romanian Commodities Exchange
- Central Java Power - Indonesia
- Singapore Mercantile Exchange
- Siam City Cement - Thailand
- Barasentosa Lestari - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Maheswari Brothers Coal Limited - India
- LBH Netherlands Bv - Netherlands
- Global Business Power Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Gujarat Electricity Regulatory Commission - India
- Kohat Cement Company Ltd. - Pakistan
- IEA Clean Coal Centre - UK
- Larsen & Toubro Limited - India
- Ceylon Electricity Board - Sri Lanka
- Bhoruka Overseas - Indonesia
- Samtan Co., Ltd - South Korea
- Indogreen Group - Indonesia
- Kepco SPC Power Corporation, Philippines
- VISA Power Limited - India
- CNBM International Corporation - China
- New Zealand Coal & Carbon
- GN Power Mariveles Coal Plant, Philippines
- London Commodity Brokers - England
- Jaiprakash Power Ventures ltd
- Electricity Generating Authority of Thailand
- Kaltim Prima Coal - Indonesia
- Africa Commodities Group - South Africa
- Sree Jayajothi Cements Limited - India
- AsiaOL BioFuels Corp., Philippines
- Madhucon Powers Ltd - India
- Attock Cement Pakistan Limited
- Bukit Asam (Persero) Tbk - Indonesia
- CIMB Investment Bank - Malaysia
- Thai Mozambique Logistica
- Bhatia International Limited - India
- Indonesian Coal Mining Association
- Sical Logistics Limited - India
- Karaikal Port Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- Banpu Public Company Limited - Thailand
- Coalindo Energy - Indonesia
- PTC India Limited - India
- Eastern Energy - Thailand
- Georgia Ports Authority, United States
- Renaissance Capital - South Africa
- Tata Chemicals Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Electricity Authority, New Zealand
- SN Aboitiz Power Inc, Philippines
- Meenaskhi Energy Private Limited - India
- Chettinad Cement Corporation Ltd - India
- Bukit Baiduri Energy - Indonesia
- Directorate Of Revenue Intelligence - India
- Chamber of Mines of South Africa
- Straits Asia Resources Limited - Singapore
- Aboitiz Power Corporation - Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Australian Commodity Traders Exchange
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Toyota Tsusho Corporation, Japan
- Ind-Barath Power Infra Limited - India
- Sojitz Corporation - Japan
- Edison Trading Spa - Italy
- Gujarat Mineral Development Corp Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Trasteel International SA, Italy
- Coastal Gujarat Power Limited - India
- Coal and Oil Company - UAE
- Aditya Birla Group - India
- Merrill Lynch Commodities Europe
- Thiess Contractors Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Sarangani Energy Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- Cigading International Bulk Terminal - Indonesia
- Siam City Cement PLC, Thailand
- Mjunction Services Limited - India
- Orica Australia Pty. Ltd.
- Independent Power Producers Association of India
- OPG Power Generation Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Indian Energy Exchange, India
- Petrochimia International Co. Ltd.- Taiwan
- Ministry of Finance - Indonesia
- Altura Mining Limited, Indonesia
- Sindya Power Generating Company Private Ltd
- Directorate General of MIneral and Coal - Indonesia
- MS Steel International - UAE
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Price Waterhouse Coopers - Russia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Uttam Galva Steels Limited - India
- Central Electricity Authority - India
- PowerSource Philippines DevCo
- Petron Corporation, Philippines
- Latin American Coal - Colombia
- Timah Investasi Mineral - Indoneisa
- Jindal Steel & Power Ltd - India
- Indian Oil Corporation Limited
- GAC Shipping (India) Pvt Ltd
- Minerals Council of Australia
- Binh Thuan Hamico - Vietnam
- Carbofer General Trading SA - India
- Deloitte Consulting - India
- Indo Tambangraya Megah - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Pendopo Energi Batubara - Indonesia
- Meralco Power Generation, Philippines
- European Bulk Services B.V. - Netherlands
- Sakthi Sugars Limited - India
- Interocean Group of Companies - India
- Bayan Resources Tbk. - Indonesia
- The Treasury - Australian Government
- Oldendorff Carriers - Singapore
- Dalmia Cement Bharat India
- Formosa Plastics Group - Taiwan
- Rio Tinto Coal - Australia
- Bangladesh Power Developement Board
- Standard Chartered Bank - UAE
- TeaM Sual Corporation - Philippines
- Commonwealth Bank - Australia
- Medco Energi Mining Internasional
- Eastern Coal Council - USA
- Videocon Industries ltd - India
- Bharathi Cement Corporation - India
- Power Finance Corporation Ltd., India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Posco Energy - South Korea
- Agrawal Coal Company - India
- Jorong Barutama Greston.PT - Indonesia
- Global Green Power PLC Corporation, Philippines
- Marubeni Corporation - India
- IHS Mccloskey Coal Group - USA
- Vizag Seaport Private Limited - India
- The University of Queensland
- Vijayanagar Sugar Pvt Ltd - India
- ASAPP Information Group - India
- Baramulti Group, Indonesia
- GVK Power & Infra Limited - India
- GMR Energy Limited - India
- India Bulls Power Limited - India
- Port Waratah Coal Services - Australia
- International Coal Ventures Pvt Ltd - India
- Kideco Jaya Agung - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Bukit Makmur.PT - Indonesia
- Economic Council, Georgia
- Metalloyd Limited - United Kingdom
- Kumho Petrochemical, South Korea
- Energy Link Ltd, New Zealand
- Manunggal Multi Energi - Indonesia
- Semirara Mining Corp, Philippines
- Krishnapatnam Port Company Ltd. - India
- Indika Energy - Indonesia
- Goldman Sachs - Singapore
- Salva Resources Pvt Ltd - India
- Lanco Infratech Ltd - India
- Wilmar Investment Holdings
- Ambuja Cements Ltd - India
- Antam Resourcindo - Indonesia
- Heidelberg Cement - Germany
- Parliament of New Zealand
- SMC Global Power, Philippines
- White Energy Company Limited
- Planning Commission, India
- Maharashtra Electricity Regulatory Commission - India
- Xindia Steels Limited - India
- Anglo American - United Kingdom
- Makarim & Taira - Indonesia
- Cement Manufacturers Association - India
- Bhushan Steel Limited - India
- Semirara Mining and Power Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Globalindo Alam Lestari - Indonesia
- The State Trading Corporation of India Ltd
- Mercuria Energy - Indonesia
- Wood Mackenzie - Singapore
- Mintek Dendrill Indonesia
- Orica Mining Services - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- ICICI Bank Limited - India
- Riau Bara Harum - Indonesia
- Bulk Trading Sa - Switzerland
- PetroVietnam Power Coal Import and Supply Company
- Ministry of Transport, Egypt
- Essar Steel Hazira Ltd - India
- Malabar Cements Ltd - India
- Sinarmas Energy and Mining - Indonesia
- South Luzon Thermal Energy Corporation
- Karbindo Abesyapradhi - Indoneisa
- Grasim Industreis Ltd - India
- Simpson Spence & Young - Indonesia
- Mercator Lines Limited - India
- Kartika Selabumi Mining - Indonesia
- Gujarat Sidhee Cement - India
- Australian Coal Association
- Borneo Indobara - Indonesia
- Energy Development Corp, Philippines
- Parry Sugars Refinery, India
- Kobexindo Tractors - Indoneisa
- Ministry of Mines - Canada
- Rashtriya Ispat Nigam Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
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