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