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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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Thursday, 19 January 12
14TH VOGP MEETING IN HO CHI MINH CITY HANDS OUT LATEST UPDATES AND DEVELOPMENTS IN VIETNAM'S ENERGY INDUSTRY
Press Release: At upcoming 14th Vietnam Oil Gas Power on 27-28 Feb in Ho Chi Minh City the industry’s most influential names including Petrovi ...
Thursday, 19 January 12
DELTA DUNIA SEALS US$820 MIO CONTRACT INSIDER STORIES
Insider Stories reported that, PT Delta Dunia Makmur Tbk (DOID) has announced that its primary operating subsidiary, PT Bukit Makmur Mandiri Utama ( ...
Wednesday, 18 January 12
WARM WINTER ACROSS EUROPE HAS IMPACTED NEGATIVELY COAL DEMAND - BRS
With the Chinese New Year just a week away, all markets are slowing down. The drop in freight rates for all sizes has been significant over the past ...
Wednesday, 18 January 12
DRY BULK MARKET'S DRAMA CONTINUES IN START OF NEW WEEK - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
A flurry of newbuilding deliveries, coupled with a slow start to the new year, a typical trend for the dry bulk market, has led the industry's benc ...
Monday, 16 January 12
BUMA MINED 2.7 MILLION TONS COAL LAST MONTH
COALspot.com - BUMA has mined 2.7 million tons (-14.1% YoY) coal last month and removed 25.8 million bcm (-5.6% YoY) overburden, according to compan ...
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- Sree Jayajothi Cements Limited - India
- Semirara Mining and Power Corporation, Philippines
- Interocean Group of Companies - India
- Aditya Birla Group - India
- Dalmia Cement Bharat India
- Kartika Selabumi Mining - Indonesia
- Bharathi Cement Corporation - India
- Coastal Gujarat Power Limited - India
- Sinarmas Energy and Mining - Indonesia
- PowerSource Philippines DevCo
- Larsen & Toubro Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Directorate Of Revenue Intelligence - India
- Carbofer General Trading SA - India
- Global Business Power Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- PTC India Limited - India
- Therma Luzon, Inc, Philippines
- Bhushan Steel Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Marubeni Corporation - India
- CNBM International Corporation - China
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Edison Trading Spa - Italy
- Binh Thuan Hamico - Vietnam
- Oldendorff Carriers - Singapore
- AsiaOL BioFuels Corp., Philippines
- Riau Bara Harum - Indonesia
- Indogreen Group - Indonesia
- Sical Logistics Limited - India
- Meenaskhi Energy Private Limited - India
- Power Finance Corporation Ltd., India
- Kaltim Prima Coal - Indonesia
- Indian Energy Exchange, India
- Manunggal Multi Energi - Indonesia
- Kapuas Tunggal Persada - Indonesia
- ICICI Bank Limited - India
- European Bulk Services B.V. - Netherlands
- Medco Energi Mining Internasional
- Bahari Cakrawala Sebuku - Indonesia
- McConnell Dowell - Australia
- Lanco Infratech Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- The Treasury - Australian Government
- Karbindo Abesyapradhi - Indoneisa
- Bulk Trading Sa - Switzerland
- Planning Commission, India
- Metalloyd Limited - United Kingdom
- GVK Power & Infra Limited - India
- Attock Cement Pakistan Limited
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- MS Steel International - UAE
- Sindya Power Generating Company Private Ltd
- Romanian Commodities Exchange
- Siam City Cement - Thailand
- Maharashtra Electricity Regulatory Commission - India
- The State Trading Corporation of India Ltd
- Star Paper Mills Limited - India
- Indika Energy - Indonesia
- Vizag Seaport Private Limited - India
- Iligan Light & Power Inc, Philippines
- Heidelberg Cement - Germany
- IEA Clean Coal Centre - UK
- VISA Power Limited - India
- Karaikal Port Pvt Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Essar Steel Hazira Ltd - India
- SMC Global Power, Philippines
- Samtan Co., Ltd - South Korea
- Cigading International Bulk Terminal - Indonesia
- Port Waratah Coal Services - Australia
- Wilmar Investment Holdings
- Kohat Cement Company Ltd. - Pakistan
- Deloitte Consulting - India
- Directorate General of MIneral and Coal - Indonesia
- Tata Chemicals Ltd - India
- Indonesian Coal Mining Association
- Ceylon Electricity Board - Sri Lanka
- Independent Power Producers Association of India
- Asmin Koalindo Tuhup - Indonesia
- Barasentosa Lestari - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Posco Energy - South Korea
- Coal and Oil Company - UAE
- Billiton Holdings Pty Ltd - Australia
- Petron Corporation, Philippines
- Tamil Nadu electricity Board
- Parliament of New Zealand
- Formosa Plastics Group - Taiwan
- Commonwealth Bank - Australia
- Bhoruka Overseas - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Merrill Lynch Commodities Europe
- Antam Resourcindo - Indonesia
- Anglo American - United Kingdom
- Mjunction Services Limited - India
- Trasteel International SA, Italy
- Kobexindo Tractors - Indoneisa
- Globalindo Alam Lestari - Indonesia
- GMR Energy Limited - India
- SN Aboitiz Power Inc, Philippines
- Bukit Makmur.PT - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Miang Besar Coal Terminal - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Orica Australia Pty. Ltd.
- Intertek Mineral Services - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Goldman Sachs - Singapore
- Electricity Generating Authority of Thailand
- LBH Netherlands Bv - Netherlands
- Bangladesh Power Developement Board
- Mercuria Energy - Indonesia
- Makarim & Taira - Indonesia
- Savvy Resources Ltd - HongKong
- Semirara Mining Corp, Philippines
- Pendopo Energi Batubara - Indonesia
- Kideco Jaya Agung - Indonesia
- GAC Shipping (India) Pvt Ltd
- Price Waterhouse Coopers - Russia
- Central Electricity Authority - India
- Malabar Cements Ltd - India
- Cement Manufacturers Association - India
- Neyveli Lignite Corporation Ltd, - India
- San Jose City I Power Corp, Philippines
- Kumho Petrochemical, South Korea
- TNB Fuel Sdn Bhd - Malaysia
- The University of Queensland
- Australian Coal Association
- Krishnapatnam Port Company Ltd. - India
- Altura Mining Limited, Indonesia
- Chettinad Cement Corporation Ltd - India
- Madhucon Powers Ltd - India
- Minerals Council of Australia
- Mintek Dendrill Indonesia
- Orica Mining Services - Indonesia
- Ministry of Mines - Canada
- Bhatia International Limited - India
- Thiess Contractors Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Parry Sugars Refinery, India
- Toyota Tsusho Corporation, Japan
- Grasim Industreis Ltd - India
- Energy Link Ltd, New Zealand
- Agrawal Coal Company - India
- Global Green Power PLC Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Electricity Authority, New Zealand
- Wood Mackenzie - Singapore
- Rashtriya Ispat Nigam Limited - India
- Singapore Mercantile Exchange
- IHS Mccloskey Coal Group - USA
- CIMB Investment Bank - Malaysia
- Sakthi Sugars Limited - India
- Timah Investasi Mineral - Indoneisa
- Videocon Industries ltd - India
- India Bulls Power Limited - India
- Maheswari Brothers Coal Limited - India
- Coalindo Energy - Indonesia
- Gujarat Sidhee Cement - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Aboitiz Power Corporation - Philippines
- New Zealand Coal & Carbon
- Standard Chartered Bank - UAE
- Uttam Galva Steels Limited - India
- Indian Oil Corporation Limited
- Latin American Coal - Colombia
- Ind-Barath Power Infra Limited - India
- Ambuja Cements Ltd - India
- Economic Council, Georgia
- Global Coal Blending Company Limited - Australia
- Mercator Lines Limited - India
- International Coal Ventures Pvt Ltd - India
- ASAPP Information Group - India
- Indo Tambangraya Megah - Indonesia
- Jindal Steel & Power Ltd - India
- Vedanta Resources Plc - India
- Meralco Power Generation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Simpson Spence & Young - Indonesia
- Energy Development Corp, Philippines
- Renaissance Capital - South Africa
- Sarangani Energy Corporation, Philippines
- TeaM Sual Corporation - Philippines
- White Energy Company Limited
- SMG Consultants - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Sojitz Corporation - Japan
- Baramulti Group, Indonesia
- Central Java Power - Indonesia
- Kepco SPC Power Corporation, Philippines
- Thai Mozambique Logistica
- Eastern Coal Council - USA
- Bukit Asam (Persero) Tbk - Indonesia
- Borneo Indobara - Indonesia
- Rio Tinto Coal - Australia
- Ministry of Transport, Egypt
- Africa Commodities Group - South Africa
- Salva Resources Pvt Ltd - India
- Georgia Ports Authority, United States
- OPG Power Generation Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- Ministry of Finance - Indonesia
- Eastern Energy - Thailand
- Australian Commodity Traders Exchange
- Jaiprakash Power Ventures ltd
- Xindia Steels Limited - India
- Siam City Cement PLC, Thailand
- Banpu Public Company Limited - Thailand
- London Commodity Brokers - England
- Straits Asia Resources Limited - Singapore
- Gujarat Mineral Development Corp Ltd - India
- Bukit Baiduri Energy - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Bayan Resources Tbk. - Indonesia
- Chamber of Mines of South Africa
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