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