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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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Tuesday, 31 January 12
THERE ARE MANY GOOD REASONS FOR COAL IN GERMANY - DR CIESLIK
COALspot.com - "The year 2011 was again marked by many changes on the markets and energy policies, at times in line with expectations, but at o ...
Tuesday, 31 January 12
DRY BULK MARKET KEEPS FALLING FOR WORST MONTH IN YEARS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market didn't manage to put a halt in its downfall, with the industry's benchmark, the BDI (Baltic Dry Index), posting yet another fa ...
Monday, 30 January 12
CHINA'S HUNGER FOR COAL LEAVES DENT IN PENNSYLVANIA'S SUPPLY - THOMAS LESKIN
With the price of heating oil on the rise, one of Pennsylvania's greatest natural resources - coal - is in high demand, and not just locally.
Et ...
Saturday, 28 January 12
WILL FREIGHT MARKET STABILIZE FROM NEXT WEEK?
COALspot.com - The markets continued to soften with BDI at 663 points down by 15.78 pct closing at 726 points and cape index was down by 5.73 pct cl ...
Friday, 27 January 12
DEMOLITION ACTIVITY NEEDS TO INCREASE SIGNIFICANTLY THIS YEAR AS WELL - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The oversupply of vessels in most shipping sectors is so intense that it’s become clear to ship owners that unless they scrap as many of their ...
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- Global Green Power PLC Corporation, Philippines
- Central Java Power - Indonesia
- Aboitiz Power Corporation - Philippines
- Deloitte Consulting - India
- Antam Resourcindo - Indonesia
- Sree Jayajothi Cements Limited - India
- Indogreen Group - Indonesia
- Dalmia Cement Bharat India
- Parry Sugars Refinery, India
- Anglo American - United Kingdom
- Jorong Barutama Greston.PT - Indonesia
- Mercuria Energy - Indonesia
- Posco Energy - South Korea
- Neyveli Lignite Corporation Ltd, - India
- Karaikal Port Pvt Ltd - India
- Eastern Coal Council - USA
- Eastern Energy - Thailand
- Videocon Industries ltd - India
- Essar Steel Hazira Ltd - India
- Siam City Cement - Thailand
- Ministry of Finance - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Sarangani Energy Corporation, Philippines
- Tamil Nadu electricity Board
- Global Business Power Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Leighton Contractors Pty Ltd - Australia
- Energy Development Corp, Philippines
- Lanco Infratech Ltd - India
- Indian Oil Corporation Limited
- Kideco Jaya Agung - Indonesia
- Semirara Mining Corp, Philippines
- Edison Trading Spa - Italy
- Africa Commodities Group - South Africa
- Agrawal Coal Company - India
- Goldman Sachs - Singapore
- Meenaskhi Energy Private Limited - India
- Petron Corporation, Philippines
- Sojitz Corporation - Japan
- Pipit Mutiara Jaya. PT, Indonesia
- Sinarmas Energy and Mining - Indonesia
- PNOC Exploration Corporation - Philippines
- Merrill Lynch Commodities Europe
- Ministry of Mines - Canada
- Asmin Koalindo Tuhup - Indonesia
- The Treasury - Australian Government
- Kobexindo Tractors - Indoneisa
- Gujarat Electricity Regulatory Commission - India
- Malabar Cements Ltd - India
- Riau Bara Harum - Indonesia
- Baramulti Group, Indonesia
- Marubeni Corporation - India
- Australian Coal Association
- Coalindo Energy - Indonesia
- Bharathi Cement Corporation - India
- Georgia Ports Authority, United States
- South Luzon Thermal Energy Corporation
- MS Steel International - UAE
- Sindya Power Generating Company Private Ltd
- Binh Thuan Hamico - Vietnam
- ASAPP Information Group - India
- Kepco SPC Power Corporation, Philippines
- Wilmar Investment Holdings
- GAC Shipping (India) Pvt Ltd
- Global Coal Blending Company Limited - Australia
- Bayan Resources Tbk. - Indonesia
- Kumho Petrochemical, South Korea
- Power Finance Corporation Ltd., India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ambuja Cements Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- TeaM Sual Corporation - Philippines
- Directorate General of MIneral and Coal - Indonesia
- Bhushan Steel Limited - India
- Timah Investasi Mineral - Indoneisa
- Iligan Light & Power Inc, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Bangladesh Power Developement Board
- Central Electricity Authority - India
- CNBM International Corporation - China
- Uttam Galva Steels Limited - India
- Mercator Lines Limited - India
- Makarim & Taira - Indonesia
- Banpu Public Company Limited - Thailand
- LBH Netherlands Bv - Netherlands
- Salva Resources Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- San Jose City I Power Corp, Philippines
- Bukit Baiduri Energy - Indonesia
- Toyota Tsusho Corporation, Japan
- The State Trading Corporation of India Ltd
- Savvy Resources Ltd - HongKong
- Sical Logistics Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Indonesian Coal Mining Association
- Chettinad Cement Corporation Ltd - India
- Samtan Co., Ltd - South Korea
- Ind-Barath Power Infra Limited - India
- Wood Mackenzie - Singapore
- Economic Council, Georgia
- Indika Energy - Indonesia
- Attock Cement Pakistan Limited
- Romanian Commodities Exchange
- Standard Chartered Bank - UAE
- GVK Power & Infra Limited - India
- Manunggal Multi Energi - Indonesia
- India Bulls Power Limited - India
- Alfred C Toepfer International GmbH - Germany
- IEA Clean Coal Centre - UK
- Planning Commission, India
- Coastal Gujarat Power Limited - India
- Commonwealth Bank - Australia
- GN Power Mariveles Coal Plant, Philippines
- Orica Mining Services - Indonesia
- Orica Australia Pty. Ltd.
- Straits Asia Resources Limited - Singapore
- Kaltim Prima Coal - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Bulk Trading Sa - Switzerland
- Vizag Seaport Private Limited - India
- Aditya Birla Group - India
- CIMB Investment Bank - Malaysia
- London Commodity Brokers - England
- Bank of Tokyo Mitsubishi UFJ Ltd
- Carbofer General Trading SA - India
- Mjunction Services Limited - India
- Electricity Authority, New Zealand
- PowerSource Philippines DevCo
- AsiaOL BioFuels Corp., Philippines
- Larsen & Toubro Limited - India
- Cigading International Bulk Terminal - Indonesia
- IHS Mccloskey Coal Group - USA
- SMC Global Power, Philippines
- Medco Energi Mining Internasional
- Grasim Industreis Ltd - India
- International Coal Ventures Pvt Ltd - India
- Parliament of New Zealand
- Singapore Mercantile Exchange
- Simpson Spence & Young - Indonesia
- Australian Commodity Traders Exchange
- Tata Chemicals Ltd - India
- Jaiprakash Power Ventures ltd
- McConnell Dowell - Australia
- GMR Energy Limited - India
- New Zealand Coal & Carbon
- Holcim Trading Pte Ltd - Singapore
- Bahari Cakrawala Sebuku - Indonesia
- Madhucon Powers Ltd - India
- Price Waterhouse Coopers - Russia
- Thai Mozambique Logistica
- Bhoruka Overseas - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bhatia International Limited - India
- Indo Tambangraya Megah - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Heidelberg Cement - Germany
- Rio Tinto Coal - Australia
- Ministry of Transport, Egypt
- PTC India Limited - India
- Latin American Coal - Colombia
- Therma Luzon, Inc, Philippines
- Electricity Generating Authority of Thailand
- Kartika Selabumi Mining - Indonesia
- Energy Link Ltd, New Zealand
- The University of Queensland
- Meralco Power Generation, Philippines
- Coal and Oil Company - UAE
- Bukit Asam (Persero) Tbk - Indonesia
- Trasteel International SA, Italy
- Indian Energy Exchange, India
- Star Paper Mills Limited - India
- SMG Consultants - Indonesia
- Directorate Of Revenue Intelligence - India
- Karbindo Abesyapradhi - Indoneisa
- Renaissance Capital - South Africa
- Independent Power Producers Association of India
- Miang Besar Coal Terminal - Indonesia
- White Energy Company Limited
- Formosa Plastics Group - Taiwan
- Vedanta Resources Plc - India
- Mintek Dendrill Indonesia
- Port Waratah Coal Services - Australia
- Maheswari Brothers Coal Limited - India
- Ceylon Electricity Board - Sri Lanka
- Intertek Mineral Services - Indonesia
- Barasentosa Lestari - Indonesia
- Metalloyd Limited - United Kingdom
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Chamber of Mines of South Africa
- Minerals Council of Australia
- OPG Power Generation Pvt Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Siam City Cement PLC, Thailand
- Thiess Contractors Indonesia
- ICICI Bank Limited - India
- Globalindo Alam Lestari - Indonesia
- Xindia Steels Limited - India
- Altura Mining Limited, Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Interocean Group of Companies - India
- European Bulk Services B.V. - Netherlands
- Petrochimia International Co. Ltd.- Taiwan
- Sakthi Sugars Limited - India
- Jindal Steel & Power Ltd - India
- VISA Power Limited - India
- Cement Manufacturers Association - India
- Billiton Holdings Pty Ltd - Australia
- Oldendorff Carriers - Singapore
- TNB Fuel Sdn Bhd - Malaysia
- SN Aboitiz Power Inc, Philippines
- Gujarat Sidhee Cement - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Borneo Indobara - Indonesia
- Bukit Makmur.PT - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Pendopo Energi Batubara - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
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