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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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Sunday, 22 January 12
FREIGHT MARKET DROPPED TO THE LOWEST LEVEL SINCE 2008
COALspot.com - "The markets continued to soften almost reaching 2008 levels breaking the 1,000 point mark", said Capt. Reddy of Vistaar Sh ...
Saturday, 21 January 12
ASIAS PREMIER COMPREHENSIVE OPEN CUT MINING CONFERENCE SCHEDULED FOR FEBRUARY 2012
As the only such conference in the region for miners and service providers, IBC Asia’s Open Cut Mine Planning & Operational Excellence con ...
Saturday, 21 January 12
COAL MARKETS CELEBRATES A DECADE OF BRINGING BUYERS & SELLERS TOGETHER
In 2012, IBC Asia’s premier Coal Markets conference series – Asia’s only globally focused coal import, export and supply chain eve ...
Saturday, 21 January 12
SAMIN TAN COMPLETES BUMI PLC TAKEOVER - INSIDER STORIES
Insider Stories reported that, Indonesian coking coal miner PT Borneo Lumbung Energi & Metal Tbk (BORN), that is controlled by stellar businessm ...
Thursday, 19 January 12
SOUTHGOBI RESOURCES SELLS MORE THAN FOUR MILLION TONNES OF COAL IN 2011, 58% MORE THAN 2010
COALspot.com - SouthGobi Resources Ltd. (TSX: SGQ, HK: 1878) has successfully complets year 2011 on guidance in terms of coal sales and production.
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- Mintek Dendrill Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
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- The Treasury - Australian Government
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- LBH Netherlands Bv - Netherlands
- Neyveli Lignite Corporation Ltd, - India
- Siam City Cement PLC, Thailand
- Mjunction Services Limited - India
- Bayan Resources Tbk. - Indonesia
- Miang Besar Coal Terminal - Indonesia
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- Africa Commodities Group - South Africa
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- Alfred C Toepfer International GmbH - Germany
- Global Green Power PLC Corporation, Philippines
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- Energy Development Corp, Philippines
- Bharathi Cement Corporation - India
- Kumho Petrochemical, South Korea
- Bhatia International Limited - India
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- Cigading International Bulk Terminal - Indonesia
- Orica Mining Services - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Sinarmas Energy and Mining - Indonesia
- Petron Corporation, Philippines
- Borneo Indobara - Indonesia
- Goldman Sachs - Singapore
- Malabar Cements Ltd - India
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- Indian Energy Exchange, India
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- Vedanta Resources Plc - India
- Baramulti Group, Indonesia
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- Bank of Tokyo Mitsubishi UFJ Ltd
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- Kideco Jaya Agung - Indonesia
- Deloitte Consulting - India
- Aditya Birla Group - India
- Indogreen Group - Indonesia
- Jaiprakash Power Ventures ltd
- Bhoruka Overseas - Indonesia
- Ministry of Finance - Indonesia
- Ceylon Electricity Board - Sri Lanka
- AsiaOL BioFuels Corp., Philippines
- GAC Shipping (India) Pvt Ltd
- Simpson Spence & Young - Indonesia
- VISA Power Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Tamil Nadu electricity Board
- Maharashtra Electricity Regulatory Commission - India
- Indonesian Coal Mining Association
- Intertek Mineral Services - Indonesia
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- Kartika Selabumi Mining - Indonesia
- Barasentosa Lestari - Indonesia
- ICICI Bank Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
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- Trasteel International SA, Italy
- White Energy Company Limited
- Tata Chemicals Ltd - India
- Wood Mackenzie - Singapore
- Krishnapatnam Port Company Ltd. - India
- IHS Mccloskey Coal Group - USA
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Maheswari Brothers Coal Limited - India
- Parliament of New Zealand
- GMR Energy Limited - India
- Karaikal Port Pvt Ltd - India
- Orica Australia Pty. Ltd.
- European Bulk Services B.V. - Netherlands
- Edison Trading Spa - Italy
- Videocon Industries ltd - India
- MS Steel International - UAE
- Interocean Group of Companies - India
- Planning Commission, India
- Sojitz Corporation - Japan
- Leighton Contractors Pty Ltd - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Eastern Energy - Thailand
- Kapuas Tunggal Persada - Indonesia
- Samtan Co., Ltd - South Korea
- Rashtriya Ispat Nigam Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Oldendorff Carriers - Singapore
- Kalimantan Lumbung Energi - Indonesia
- SMG Consultants - Indonesia
- Makarim & Taira - Indonesia
- Antam Resourcindo - Indonesia
- The University of Queensland
- International Coal Ventures Pvt Ltd - India
- Mercator Lines Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Savvy Resources Ltd - HongKong
- Thai Mozambique Logistica
- McConnell Dowell - Australia
- Georgia Ports Authority, United States
- Renaissance Capital - South Africa
- Coastal Gujarat Power Limited - India
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- ASAPP Information Group - India
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- Merrill Lynch Commodities Europe
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- Medco Energi Mining Internasional
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- Commonwealth Bank - Australia
- Holcim Trading Pte Ltd - Singapore
- Therma Luzon, Inc, Philippines
- Formosa Plastics Group - Taiwan
- Heidelberg Cement - Germany
- Standard Chartered Bank - UAE
- Cement Manufacturers Association - India
- Kaltim Prima Coal - Indonesia
- Meenaskhi Energy Private Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Wilmar Investment Holdings
- Pipit Mutiara Jaya. PT, Indonesia
- New Zealand Coal & Carbon
- SMC Global Power, Philippines
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- Salva Resources Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- Bukit Makmur.PT - Indonesia
- Larsen & Toubro Limited - India
- London Commodity Brokers - England
- Binh Thuan Hamico - Vietnam
- Indika Energy - Indonesia
- Minerals Council of Australia
- Bhushan Steel Limited - India
- Ambuja Cements Ltd - India
- Ministry of Transport, Egypt
- Metalloyd Limited - United Kingdom
- Altura Mining Limited, Indonesia
- TeaM Sual Corporation - Philippines
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- Singapore Mercantile Exchange
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- Manunggal Multi Energi - Indonesia
- Lanco Infratech Ltd - India
- Directorate Of Revenue Intelligence - India
- Sindya Power Generating Company Private Ltd
- Marubeni Corporation - India
- Coalindo Energy - Indonesia
- IEA Clean Coal Centre - UK
- Carbofer General Trading SA - India
- Toyota Tsusho Corporation, Japan
- Anglo American - United Kingdom
- Central Electricity Authority - India
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- Pendopo Energi Batubara - Indonesia
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- Bangladesh Power Developement Board
- Mercuria Energy - Indonesia
- Thiess Contractors Indonesia
- Madhucon Powers Ltd - India
- Attock Cement Pakistan Limited
- Bulk Trading Sa - Switzerland
- Siam City Cement - Thailand
- Agrawal Coal Company - India
- Globalindo Alam Lestari - Indonesia
- Chamber of Mines of South Africa
- Straits Asia Resources Limited - Singapore
- Uttam Galva Steels Limited - India
- CIMB Investment Bank - Malaysia
- Electricity Authority, New Zealand
- Energy Link Ltd, New Zealand
- Economic Council, Georgia
- Dalmia Cement Bharat India
- Directorate General of MIneral and Coal - Indonesia
- Coal and Oil Company - UAE
- Romanian Commodities Exchange
- Eastern Coal Council - USA
- PetroVietnam Power Coal Import and Supply Company
- Posco Energy - South Korea
- Gujarat Sidhee Cement - India
- Parry Sugars Refinery, India
- Australian Coal Association
- Ministry of Mines - Canada
- Electricity Generating Authority of Thailand
- Chettinad Cement Corporation Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Global Business Power Corporation, Philippines
- Rio Tinto Coal - Australia
- Sical Logistics Limited - India
- Indo Tambangraya Megah - Indonesia
- Gujarat Electricity Regulatory Commission - India
- SN Aboitiz Power Inc, Philippines
- Timah Investasi Mineral - Indoneisa
- Global Coal Blending Company Limited - Australia
- Australian Commodity Traders Exchange
- Iligan Light & Power Inc, Philippines
- The State Trading Corporation of India Ltd
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- Kobexindo Tractors - Indoneisa
- CNBM International Corporation - China
- PNOC Exploration Corporation - Philippines
- Port Waratah Coal Services - Australia
- Indian Oil Corporation Limited
- Grasim Industreis Ltd - India
- Power Finance Corporation Ltd., India
- Xindia Steels Limited - India
- Independent Power Producers Association of India
- Price Waterhouse Coopers - Russia
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