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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, 10 January 12
THE 4TH DEEPWATER ASIA CONGRESS 2012 WILL KICK OFF ON MAY 23 - 25
Press release - Based on the past three years’ success, SZ & W Group is excited to announce the 4th Deepwater Asia Congress will be held o ...
Monday, 09 January 12
2012: WHAT WILL IT BRING FOR THE DRY BULK MARKET? - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
A further increase in dry bulk demand could be the remedy for most of the industry's oversupply issues, together of course with the high level of s ...
Sunday, 08 January 12
ICICI OUTLOOK ON INDIAN POWER, MINING,CEMENT, AND SHIPPING SECTORS PERFORMANCE IN 2012
Broking firm, ICICIdirect (India) has come out with report on sectors outlook for 2012. IRIS has collated key highlights for each sector from ...
Sunday, 08 January 12
SUPRAMAX DELIVERY SOUTH CHINA FOR TRIPS VIA INDONESIA WERE REPORTED AROUND $ 7000 PER DAY - VISTAAR
Wish You a Very Happy and Prosperous New year 2012.
COALspot.com - The last report by us was on 16th Dec 2011 and because of holidays this would ...
Sunday, 08 January 12
THARPAK CONSORTIUM FORMED TO DEVELOP MEGA ENERGY COMPLEX IN SINDH PROVINCE, PAKISTAN
Press Release: On January 5th, TharPak, LLC met with officials of the Embassy of Pakistan in Washington DC to introduce and announce the formation o ...
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- Leighton Contractors Pty Ltd - Australia
- Minerals Council of Australia
- Malabar Cements Ltd - India
- Kepco SPC Power Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- Agrawal Coal Company - India
- Jorong Barutama Greston.PT - Indonesia
- Petron Corporation, Philippines
- Global Business Power Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- SMC Global Power, Philippines
- Standard Chartered Bank - UAE
- Makarim & Taira - Indonesia
- Baramulti Group, Indonesia
- AsiaOL BioFuels Corp., Philippines
- Thai Mozambique Logistica
- Indian Oil Corporation Limited
- Metalloyd Limited - United Kingdom
- Offshore Bulk Terminal Pte Ltd, Singapore
- Semirara Mining and Power Corporation, Philippines
- Borneo Indobara - Indonesia
- Rio Tinto Coal - Australia
- Parliament of New Zealand
- Wood Mackenzie - Singapore
- Gujarat Electricity Regulatory Commission - India
- South Luzon Thermal Energy Corporation
- Directorate Of Revenue Intelligence - India
- The State Trading Corporation of India Ltd
- Heidelberg Cement - Germany
- Kapuas Tunggal Persada - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- PowerSource Philippines DevCo
- Banpu Public Company Limited - Thailand
- Semirara Mining Corp, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- New Zealand Coal & Carbon
- Meralco Power Generation, Philippines
- Coal and Oil Company - UAE
- Sical Logistics Limited - India
- Price Waterhouse Coopers - Russia
- Ambuja Cements Ltd - India
- Commonwealth Bank - Australia
- European Bulk Services B.V. - Netherlands
- Georgia Ports Authority, United States
- Indika Energy - Indonesia
- IEA Clean Coal Centre - UK
- Ministry of Mines - Canada
- TeaM Sual Corporation - Philippines
- Straits Asia Resources Limited - Singapore
- Manunggal Multi Energi - Indonesia
- Central Electricity Authority - India
- Independent Power Producers Association of India
- GMR Energy Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Electricity Authority, New Zealand
- SN Aboitiz Power Inc, Philippines
- Mjunction Services Limited - India
- Xindia Steels Limited - India
- Tamil Nadu electricity Board
- McConnell Dowell - Australia
- PNOC Exploration Corporation - Philippines
- Bayan Resources Tbk. - Indonesia
- Attock Cement Pakistan Limited
- Deloitte Consulting - India
- Kaltim Prima Coal - Indonesia
- Meenaskhi Energy Private Limited - India
- The University of Queensland
- Karbindo Abesyapradhi - Indoneisa
- Binh Thuan Hamico - Vietnam
- Larsen & Toubro Limited - India
- Energy Development Corp, Philippines
- Jaiprakash Power Ventures ltd
- Ministry of Finance - Indonesia
- Chamber of Mines of South Africa
- Bukit Asam (Persero) Tbk - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Economic Council, Georgia
- Ministry of Transport, Egypt
- Rashtriya Ispat Nigam Limited - India
- Global Green Power PLC Corporation, Philippines
- Posco Energy - South Korea
- Indogreen Group - Indonesia
- Salva Resources Pvt Ltd - India
- Vizag Seaport Private Limited - India
- Kartika Selabumi Mining - Indonesia
- Samtan Co., Ltd - South Korea
- Iligan Light & Power Inc, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Videocon Industries ltd - India
- Grasim Industreis Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Anglo American - United Kingdom
- Australian Coal Association
- PTC India Limited - India
- Kumho Petrochemical, South Korea
- White Energy Company Limited
- Therma Luzon, Inc, Philippines
- Maheswari Brothers Coal Limited - India
- Orica Mining Services - Indonesia
- CNBM International Corporation - China
- Mercator Lines Limited - India
- Simpson Spence & Young - Indonesia
- Star Paper Mills Limited - India
- Wilmar Investment Holdings
- Latin American Coal - Colombia
- Pendopo Energi Batubara - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Eastern Energy - Thailand
- Orica Australia Pty. Ltd.
- Global Coal Blending Company Limited - Australia
- Medco Energi Mining Internasional
- Central Java Power - Indonesia
- Bharathi Cement Corporation - India
- Carbofer General Trading SA - India
- Timah Investasi Mineral - Indoneisa
- Indonesian Coal Mining Association
- VISA Power Limited - India
- ICICI Bank Limited - India
- ASAPP Information Group - India
- Cigading International Bulk Terminal - Indonesia
- Formosa Plastics Group - Taiwan
- Sree Jayajothi Cements Limited - India
- Intertek Mineral Services - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Sindya Power Generating Company Private Ltd
- Uttam Galva Steels Limited - India
- MS Steel International - UAE
- Chettinad Cement Corporation Ltd - India
- Krishnapatnam Port Company Ltd. - India
- The Treasury - Australian Government
- Asmin Koalindo Tuhup - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Interocean Group of Companies - India
- London Commodity Brokers - England
- Aboitiz Power Corporation - Philippines
- Indian Energy Exchange, India
- Sakthi Sugars Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Savvy Resources Ltd - HongKong
- Singapore Mercantile Exchange
- Gujarat Sidhee Cement - India
- Maharashtra Electricity Regulatory Commission - India
- Bhatia International Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Romanian Commodities Exchange
- Kideco Jaya Agung - Indonesia
- Ind-Barath Power Infra Limited - India
- Goldman Sachs - Singapore
- GVK Power & Infra Limited - India
- Indo Tambangraya Megah - Indonesia
- Australian Commodity Traders Exchange
- Tata Chemicals Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Barasentosa Lestari - Indonesia
- Karaikal Port Pvt Ltd - India
- OPG Power Generation Pvt Ltd - India
- Oldendorff Carriers - Singapore
- Coalindo Energy - Indonesia
- Siam City Cement PLC, Thailand
- Bhoruka Overseas - Indonesia
- Riau Bara Harum - Indonesia
- Mintek Dendrill Indonesia
- Siam City Cement - Thailand
- Jindal Steel & Power Ltd - India
- LBH Netherlands Bv - Netherlands
- Directorate General of MIneral and Coal - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bukit Baiduri Energy - Indonesia
- Power Finance Corporation Ltd., India
- Port Waratah Coal Services - Australia
- India Bulls Power Limited - India
- Sinarmas Energy and Mining - Indonesia
- Bangladesh Power Developement Board
- Toyota Tsusho Corporation, Japan
- Marubeni Corporation - India
- Edison Trading Spa - Italy
- Sarangani Energy Corporation, Philippines
- Essar Steel Hazira Ltd - India
- Bukit Makmur.PT - Indonesia
- Trasteel International SA, Italy
- Vedanta Resources Plc - India
- Coastal Gujarat Power Limited - India
- Electricity Generating Authority of Thailand
- Antam Resourcindo - Indonesia
- Globalindo Alam Lestari - Indonesia
- Mercuria Energy - Indonesia
- San Jose City I Power Corp, Philippines
- Miang Besar Coal Terminal - Indonesia
- GAC Shipping (India) Pvt Ltd
- Eastern Coal Council - USA
- SMG Consultants - Indonesia
- IHS Mccloskey Coal Group - USA
- Pipit Mutiara Jaya. PT, Indonesia
- Merrill Lynch Commodities Europe
- Dalmia Cement Bharat India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Cement Manufacturers Association - India
- Kohat Cement Company Ltd. - Pakistan
- Planning Commission, India
- Sojitz Corporation - Japan
- CIMB Investment Bank - Malaysia
- Altura Mining Limited, Indonesia
- Bhushan Steel Limited - India
- Renaissance Capital - South Africa
- Alfred C Toepfer International GmbH - Germany
- Lanco Infratech Ltd - India
- International Coal Ventures Pvt Ltd - India
- Aditya Birla Group - India
- Thiess Contractors Indonesia
- Parry Sugars Refinery, India
- Gujarat Mineral Development Corp Ltd - India
- Energy Link Ltd, New Zealand
- Africa Commodities Group - South Africa
- Bulk Trading Sa - Switzerland
- Madhucon Powers Ltd - India
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