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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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Saturday, 04 February 12
SUPRAMAX DELIVERY SOUTH CHINA FOR TRIPS VIA INDONESIA WERE REPORTED AROUND $ 6,000 PER DAY - VISTAAR
COALspot.com - The markets continued to soften which dropped by almost 11 pct and BDI closing at 647 points.
The drop in BDI was mainly due to dr ...
Thursday, 02 February 12
NO RELIEF YET FOR DRY BULK SHIP OWNERS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Although at the start of 2012 nobody can claim that the global seaborne trade has suddenly come to a halt, quite the contrary, it seems that the dry ...
Wednesday, 01 February 12
KRISHNAPATNAM PORT - GOING DEEP TO SOAR HIGH
COALspot.com - Krishnapatnam Port now rightfully claims as the deepest draft port in India, as it has started accepting vessels with maximum permiss ...
Wednesday, 01 February 12
IN JAMBI, MOST MINING COMPANIES LACK 'CLEAR-AND-CLEAN' PERMITS - JP
More than three-quarters of the 386 mining companies in Jambi lack “clear-and-clean” certifications from the government, according to an ...
Wednesday, 01 February 12
2% OF IBPS TOTAL CONCESSION AREA CONTAINS TOTAL COAL RESOURCE OF 56.1 MILLION TON
COALspot.com - PT. Britmindo, a mine consulting firm, has finalized PT. Insani Bara Perkasa (IBP) first JORC (Joint Ore Reserves Committee) res ...
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- Coal and Oil Company - UAE
- Videocon Industries ltd - India
- Thai Mozambique Logistica
- Holcim Trading Pte Ltd - Singapore
- SMC Global Power, Philippines
- Kumho Petrochemical, South Korea
- Aboitiz Power Corporation - Philippines
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- Latin American Coal - Colombia
- Coalindo Energy - Indonesia
- Salva Resources Pvt Ltd - India
- Edison Trading Spa - Italy
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- Tamil Nadu electricity Board
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- Uttam Galva Steels Limited - India
- Kaltim Prima Coal - Indonesia
- Ministry of Mines - Canada
- Global Coal Blending Company Limited - Australia
- Kapuas Tunggal Persada - Indonesia
- CNBM International Corporation - China
- Economic Council, Georgia
- Kalimantan Lumbung Energi - Indonesia
- Sakthi Sugars Limited - India
- Singapore Mercantile Exchange
- Miang Besar Coal Terminal - Indonesia
- Semirara Mining Corp, Philippines
- White Energy Company Limited
- Neyveli Lignite Corporation Ltd, - India
- Mintek Dendrill Indonesia
- Thiess Contractors Indonesia
- IHS Mccloskey Coal Group - USA
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- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- VISA Power Limited - India
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- PowerSource Philippines DevCo
- Carbofer General Trading SA - India
- McConnell Dowell - Australia
- GMR Energy Limited - India
- Standard Chartered Bank - UAE
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Parliament of New Zealand
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- Attock Cement Pakistan Limited
- Port Waratah Coal Services - Australia
- Chamber of Mines of South Africa
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- Ind-Barath Power Infra Limited - India
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- Bhatia International Limited - India
- The State Trading Corporation of India Ltd
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- Planning Commission, India
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- Makarim & Taira - Indonesia
- Metalloyd Limited - United Kingdom
- Borneo Indobara - Indonesia
- OPG Power Generation Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- Toyota Tsusho Corporation, Japan
- Medco Energi Mining Internasional
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Banpu Public Company Limited - Thailand
- Electricity Generating Authority of Thailand
- Eastern Coal Council - USA
- Australian Commodity Traders Exchange
- Kohat Cement Company Ltd. - Pakistan
- Rashtriya Ispat Nigam Limited - India
- Leighton Contractors Pty Ltd - Australia
- GVK Power & Infra Limited - India
- New Zealand Coal & Carbon
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- Eastern Energy - Thailand
- Directorate General of MIneral and Coal - Indonesia
- Kartika Selabumi Mining - Indonesia
- Energy Link Ltd, New Zealand
- Chettinad Cement Corporation Ltd - India
- Price Waterhouse Coopers - Russia
- Semirara Mining and Power Corporation, Philippines
- MS Steel International - UAE
- Georgia Ports Authority, United States
- AsiaOL BioFuels Corp., Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Offshore Bulk Terminal Pte Ltd, Singapore
- London Commodity Brokers - England
- Bukit Makmur.PT - Indonesia
- Ministry of Finance - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Riau Bara Harum - Indonesia
- Bukit Baiduri Energy - Indonesia
- Commonwealth Bank - Australia
- Meenaskhi Energy Private Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
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- Kobexindo Tractors - Indoneisa
- Bhushan Steel Limited - India
- Wilmar Investment Holdings
- Heidelberg Cement - Germany
- Bulk Trading Sa - Switzerland
- Parry Sugars Refinery, India
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- Billiton Holdings Pty Ltd - Australia
- Asmin Koalindo Tuhup - Indonesia
- SMG Consultants - Indonesia
- Petron Corporation, Philippines
- Kepco SPC Power Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Sojitz Corporation - Japan
- The University of Queensland
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- South Luzon Thermal Energy Corporation
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- Africa Commodities Group - South Africa
- Bhoruka Overseas - Indonesia
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- Indonesian Coal Mining Association
- Orica Australia Pty. Ltd.
- Intertek Mineral Services - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Gujarat Sidhee Cement - India
- Wood Mackenzie - Singapore
- Savvy Resources Ltd - HongKong
- Oldendorff Carriers - Singapore
- Gujarat Electricity Regulatory Commission - India
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- Bukit Asam (Persero) Tbk - Indonesia
- Merrill Lynch Commodities Europe
- TeaM Sual Corporation - Philippines
- PTC India Limited - India
- Coastal Gujarat Power Limited - India
- San Jose City I Power Corp, Philippines
- Siam City Cement PLC, Thailand
- Indogreen Group - Indonesia
- Agrawal Coal Company - India
- Ambuja Cements Ltd - India
- Central Java Power - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Anglo American - United Kingdom
- Jindal Steel & Power Ltd - India
- Indian Energy Exchange, India
- Power Finance Corporation Ltd., India
- Sindya Power Generating Company Private Ltd
- Formosa Plastics Group - Taiwan
- Maharashtra Electricity Regulatory Commission - India
- Deloitte Consulting - India
- Timah Investasi Mineral - Indoneisa
- Indo Tambangraya Megah - Indonesia
- Australian Coal Association
- Renaissance Capital - South Africa
- GN Power Mariveles Coal Plant, Philippines
- Straits Asia Resources Limited - Singapore
- Larsen & Toubro Limited - India
- India Bulls Power Limited - India
- Therma Luzon, Inc, Philippines
- Global Business Power Corporation, Philippines
- Aditya Birla Group - India
- Independent Power Producers Association of India
- Bharathi Cement Corporation - India
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- Meralco Power Generation, Philippines
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- Electricity Authority, New Zealand
- Indian Oil Corporation Limited
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- Global Green Power PLC Corporation, Philippines
- Minerals Council of Australia
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- SN Aboitiz Power Inc, Philippines
- Ceylon Electricity Board - Sri Lanka
- Madhucon Powers Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- The Treasury - Australian Government
- Orica Mining Services - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Manunggal Multi Energi - Indonesia
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- Trasteel International SA, Italy
- Central Electricity Authority - India
- Antam Resourcindo - Indonesia
- European Bulk Services B.V. - Netherlands
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- Cement Manufacturers Association - India
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- Interocean Group of Companies - India
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