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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, 15 January 12
THE FREIGHT MARKET CONTINUED TO BLEED - VISTAAR
COALspot.com - "The markets continued to bleed with BDI touching almost 1000 points , almost reaching the collapse of 2008 levels," said C ...
Saturday, 14 January 12
GOLDEN MINES TO SUPPLY 4 MIO TONS - INSIDER STORIES
Insider Stories reported that, Coal miner under Sinarmas Group PT Golden Energy Mines Tbk (GEMS), a subsidiary of PT Dian Swastatika Sentosa Tbk (DS ...
Friday, 13 January 12
DIFFICULT START OF 2012 FOR DRY BULK MARKET SEEN HARD TO CHANGE IN THE COURSE OF THE YEAR, UNLESS DEMOLITION PICKS UP
The dry bulk market has been on a freefall this week after a rocky start to the new year. Yesterday, the BDI (Baltic Dry Index) the industry's benc ...
Thursday, 12 January 12
DRY BULK MARKET CRASHING AT START OF THE YEAR - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has kept being on freefall mode yesterday, with the industry's benchmark, the BDI (Baltic Dry Index) losing a massive 5.17% on ...
Wednesday, 11 January 12
NEWBUILDING ORDERS DECLINE, AS SHIP OWNERS REALIZE OVERSUPPLY WILL "KILL" THEM - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
With 2012 now underway, it will be rather interesting to see how ship owners will play the "newbuilding ordering" card to their favor, as ...
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- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Central Electricity Authority - India
- Uttam Galva Steels Limited - India
- Indo Tambangraya Megah - Indonesia
- Malabar Cements Ltd - India
- Coalindo Energy - Indonesia
- SMC Global Power, Philippines
- New Zealand Coal & Carbon
- The State Trading Corporation of India Ltd
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Borneo Indobara - Indonesia
- Meralco Power Generation, Philippines
- Eastern Energy - Thailand
- Larsen & Toubro Limited - India
- Parliament of New Zealand
- Iligan Light & Power Inc, Philippines
- Jaiprakash Power Ventures ltd
- Jorong Barutama Greston.PT - Indonesia
- London Commodity Brokers - England
- Toyota Tsusho Corporation, Japan
- Sree Jayajothi Cements Limited - India
- McConnell Dowell - Australia
- Ceylon Electricity Board - Sri Lanka
- Agrawal Coal Company - India
- Aditya Birla Group - India
- Bulk Trading Sa - Switzerland
- Sakthi Sugars Limited - India
- Indika Energy - Indonesia
- Binh Thuan Hamico - Vietnam
- Global Business Power Corporation, Philippines
- Ministry of Mines - Canada
- Indogreen Group - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Australian Commodity Traders Exchange
- TNB Fuel Sdn Bhd - Malaysia
- Barasentosa Lestari - Indonesia
- SMG Consultants - Indonesia
- Bukit Makmur.PT - Indonesia
- Bangladesh Power Developement Board
- Kumho Petrochemical, South Korea
- Medco Energi Mining Internasional
- Makarim & Taira - Indonesia
- Meenaskhi Energy Private Limited - India
- PowerSource Philippines DevCo
- Vijayanagar Sugar Pvt Ltd - India
- Commonwealth Bank - Australia
- Price Waterhouse Coopers - Russia
- Intertek Mineral Services - Indonesia
- Petron Corporation, Philippines
- Xindia Steels Limited - India
- VISA Power Limited - India
- GAC Shipping (India) Pvt Ltd
- Kalimantan Lumbung Energi - Indonesia
- Siam City Cement - Thailand
- Bharathi Cement Corporation - India
- Banpu Public Company Limited - Thailand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kideco Jaya Agung - Indonesia
- Thai Mozambique Logistica
- Sojitz Corporation - Japan
- Carbofer General Trading SA - India
- Formosa Plastics Group - Taiwan
- Power Finance Corporation Ltd., India
- AsiaOL BioFuels Corp., Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Grasim Industreis Ltd - India
- Kartika Selabumi Mining - Indonesia
- SN Aboitiz Power Inc, Philippines
- The University of Queensland
- Attock Cement Pakistan Limited
- Australian Coal Association
- Sical Logistics Limited - India
- Jindal Steel & Power Ltd - India
- IHS Mccloskey Coal Group - USA
- Kaltim Prima Coal - Indonesia
- Indonesian Coal Mining Association
- Gujarat Electricity Regulatory Commission - India
- Indian Energy Exchange, India
- Leighton Contractors Pty Ltd - Australia
- Global Green Power PLC Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Planning Commission, India
- Electricity Generating Authority of Thailand
- San Jose City I Power Corp, Philippines
- Manunggal Multi Energi - Indonesia
- Renaissance Capital - South Africa
- Wilmar Investment Holdings
- Bhushan Steel Limited - India
- Bukit Baiduri Energy - Indonesia
- Port Waratah Coal Services - Australia
- Holcim Trading Pte Ltd - Singapore
- Economic Council, Georgia
- Essar Steel Hazira Ltd - India
- Merrill Lynch Commodities Europe
- Chamber of Mines of South Africa
- Semirara Mining Corp, Philippines
- International Coal Ventures Pvt Ltd - India
- White Energy Company Limited
- Cement Manufacturers Association - India
- Petrochimia International Co. Ltd.- Taiwan
- Sarangani Energy Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Karaikal Port Pvt Ltd - India
- GMR Energy Limited - India
- Mjunction Services Limited - India
- CNBM International Corporation - China
- Vizag Seaport Private Limited - India
- Therma Luzon, Inc, Philippines
- Wood Mackenzie - Singapore
- IEA Clean Coal Centre - UK
- MS Steel International - UAE
- Eastern Coal Council - USA
- Asmin Koalindo Tuhup - Indonesia
- Coal and Oil Company - UAE
- Kepco SPC Power Corporation, Philippines
- Interocean Group of Companies - India
- GVK Power & Infra Limited - India
- ICICI Bank Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Ind-Barath Power Infra Limited - India
- Cigading International Bulk Terminal - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Gujarat Mineral Development Corp Ltd - India
- Parry Sugars Refinery, India
- South Luzon Thermal Energy Corporation
- Neyveli Lignite Corporation Ltd, - India
- Oldendorff Carriers - Singapore
- Maharashtra Electricity Regulatory Commission - India
- Latin American Coal - Colombia
- PNOC Exploration Corporation - Philippines
- Timah Investasi Mineral - Indoneisa
- Madhucon Powers Ltd - India
- The Treasury - Australian Government
- Salva Resources Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- Siam City Cement PLC, Thailand
- Videocon Industries ltd - India
- Heidelberg Cement - Germany
- Mintek Dendrill Indonesia
- Singapore Mercantile Exchange
- Orica Australia Pty. Ltd.
- Samtan Co., Ltd - South Korea
- India Bulls Power Limited - India
- Mercator Lines Limited - India
- Rio Tinto Coal - Australia
- Savvy Resources Ltd - HongKong
- Ministry of Transport, Egypt
- PetroVietnam Power Coal Import and Supply Company
- Alfred C Toepfer International GmbH - Germany
- Indian Oil Corporation Limited
- Mercuria Energy - Indonesia
- OPG Power Generation Pvt Ltd - India
- Altura Mining Limited, Indonesia
- Bhoruka Overseas - Indonesia
- Bhatia International Limited - India
- Deloitte Consulting - India
- Posco Energy - South Korea
- Tata Chemicals Ltd - India
- Ministry of Finance - Indonesia
- Tamil Nadu electricity Board
- Central Java Power - Indonesia
- Electricity Authority, New Zealand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- TeaM Sual Corporation - Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Riau Bara Harum - Indonesia
- Straits Asia Resources Limited - Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sindya Power Generating Company Private Ltd
- Kohat Cement Company Ltd. - Pakistan
- Anglo American - United Kingdom
- Edison Trading Spa - Italy
- Energy Link Ltd, New Zealand
- Lanco Infratech Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- ASAPP Information Group - India
- Directorate Of Revenue Intelligence - India
- European Bulk Services B.V. - Netherlands
- Globalindo Alam Lestari - Indonesia
- Gujarat Sidhee Cement - India
- Coastal Gujarat Power Limited - India
- Ambuja Cements Ltd - India
- Simpson Spence & Young - Indonesia
- Trasteel International SA, Italy
- CIMB Investment Bank - Malaysia
- Orica Mining Services - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Minerals Council of Australia
- Aboitiz Power Corporation - Philippines
- Africa Commodities Group - South Africa
- Metalloyd Limited - United Kingdom
- Pendopo Energi Batubara - Indonesia
- Kapuas Tunggal Persada - Indonesia
- LBH Netherlands Bv - Netherlands
- Georgia Ports Authority, United States
- Global Coal Blending Company Limited - Australia
- Baramulti Group, Indonesia
- Energy Development Corp, Philippines
- Vedanta Resources Plc - India
- Star Paper Mills Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Thiess Contractors Indonesia
- Bayan Resources Tbk. - Indonesia
- Kobexindo Tractors - Indoneisa
- Romanian Commodities Exchange
- PTC India Limited - India
- Antam Resourcindo - Indonesia
- Marubeni Corporation - India
- Standard Chartered Bank - UAE
- Independent Power Producers Association of India
- Maheswari Brothers Coal Limited - India
- Goldman Sachs - Singapore
- Dalmia Cement Bharat India
- Krishnapatnam Port Company Ltd. - India
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