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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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- Kaltim Prima Coal - Indonesia
- European Bulk Services B.V. - Netherlands
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- India Bulls Power Limited - India
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- Wood Mackenzie - Singapore
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- Asia Pacific Energy Resources Ventures Inc, Philippines
- The University of Queensland
- Indonesian Coal Mining Association
- Oldendorff Carriers - Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- Independent Power Producers Association of India
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- Planning Commission, India
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- VISA Power Limited - India
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- GVK Power & Infra Limited - India
- Minerals Council of Australia
- Heidelberg Cement - Germany
- Savvy Resources Ltd - HongKong
- Rashtriya Ispat Nigam Limited - India
- Parliament of New Zealand
- Ministry of Transport, Egypt
- Maheswari Brothers Coal Limited - India
- CIMB Investment Bank - Malaysia
- Lanco Infratech Ltd - India
- PowerSource Philippines DevCo
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- Makarim & Taira - Indonesia
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- Eastern Coal Council - USA
- Vijayanagar Sugar Pvt Ltd - India
- Ambuja Cements Ltd - India
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- Orica Mining Services - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Billiton Holdings Pty Ltd - Australia
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- Electricity Authority, New Zealand
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- Georgia Ports Authority, United States
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- San Jose City I Power Corp, Philippines
- Malabar Cements Ltd - India
- Commonwealth Bank - Australia
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- London Commodity Brokers - England
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- Energy Development Corp, Philippines
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- Samtan Co., Ltd - South Korea
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- Directorate General of MIneral and Coal - Indonesia
- Alfred C Toepfer International GmbH - Germany
- PTC India Limited - India
- GMR Energy Limited - India
- MS Steel International - UAE
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bharathi Cement Corporation - India
- Antam Resourcindo - Indonesia
- Posco Energy - South Korea
- SMC Global Power, Philippines
- Anglo American - United Kingdom
- Sindya Power Generating Company Private Ltd
- Global Green Power PLC Corporation, Philippines
- Simpson Spence & Young - Indonesia
- Mjunction Services Limited - India
- Rio Tinto Coal - Australia
- Australian Coal Association
- Essar Steel Hazira Ltd - India
- Power Finance Corporation Ltd., India
- Global Coal Blending Company Limited - Australia
- Chamber of Mines of South Africa
- White Energy Company Limited
- Goldman Sachs - Singapore
- Altura Mining Limited, Indonesia
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- SMG Consultants - Indonesia
- Economic Council, Georgia
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- Port Waratah Coal Services - Australia
- Karaikal Port Pvt Ltd - India
- Petron Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Toyota Tsusho Corporation, Japan
- Kapuas Tunggal Persada - Indonesia
- Renaissance Capital - South Africa
- Kohat Cement Company Ltd. - Pakistan
- Interocean Group of Companies - India
- GAC Shipping (India) Pvt Ltd
- Bulk Trading Sa - Switzerland
- Merrill Lynch Commodities Europe
- Vizag Seaport Private Limited - India
- Carbofer General Trading SA - India
- Kalimantan Lumbung Energi - Indonesia
- Sarangani Energy Corporation, Philippines
- Singapore Mercantile Exchange
- Siam City Cement - Thailand
- Gujarat Sidhee Cement - India
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- Australian Commodity Traders Exchange
- Metalloyd Limited - United Kingdom
- Sakthi Sugars Limited - India
- Globalindo Alam Lestari - Indonesia
- Intertek Mineral Services - Indonesia
- Riau Bara Harum - Indonesia
- ICICI Bank Limited - India
- IHS Mccloskey Coal Group - USA
- Energy Link Ltd, New Zealand
- Bangladesh Power Developement Board
- Directorate Of Revenue Intelligence - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- New Zealand Coal & Carbon
- Marubeni Corporation - India
- OPG Power Generation Pvt Ltd - India
- Kideco Jaya Agung - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Videocon Industries ltd - India
- Uttam Galva Steels Limited - India
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- CNBM International Corporation - China
- International Coal Ventures Pvt Ltd - India
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- Semirara Mining Corp, Philippines
- Romanian Commodities Exchange
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- GN Power Mariveles Coal Plant, Philippines
- The State Trading Corporation of India Ltd
- Tamil Nadu electricity Board
- Coal and Oil Company - UAE
- Coalindo Energy - Indonesia
- Africa Commodities Group - South Africa
- Xindia Steels Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Bahari Cakrawala Sebuku - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- LBH Netherlands Bv - Netherlands
- Semirara Mining and Power Corporation, Philippines
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- Star Paper Mills Limited - India
- Siam City Cement PLC, Thailand
- Salva Resources Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Agrawal Coal Company - India
- Mercuria Energy - Indonesia
- IEA Clean Coal Centre - UK
- Binh Thuan Hamico - Vietnam
- Central Electricity Authority - India
- Indian Energy Exchange, India
- Karbindo Abesyapradhi - Indoneisa
- Grasim Industreis Ltd - India
- Formosa Plastics Group - Taiwan
- Gujarat Electricity Regulatory Commission - India
- Timah Investasi Mineral - Indoneisa
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- Orica Australia Pty. Ltd.
- Deloitte Consulting - India
- Indian Oil Corporation Limited
- Aboitiz Power Corporation - Philippines
- Ministry of Finance - Indonesia
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