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