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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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Saturday, 07 January 12
COAL MARKETS SEE FALLING SPOT PRICES
COALspot.com – World’s thermal coal spot prices have slipped this week..
globalCOAL index in Newcastle Port, benchmark for Asian mark ...
Friday, 06 January 12
COAL INDIA LINKED COAL PRICES WITH INTERNATIONAL COAL PRICES
COALspot.com - Consumers of indigenous coal in India to pay International prices in the future. Coal India has recently moved from UHV pricing mecha ...
Friday, 06 January 12
CLARIDEN GLOBAL BRINGS YOU INDONESIA MINING 2012
Capitalizing Business & Investment Opportunities in an Uncertain Market.Press Release - Clariden Global brings you Indonesia Mining 2012, the dedi ...
Friday, 06 January 12
THE PANAMAX MARKET EXPERIENCED A SLOW START TO 2012 - FEARNLEYS AS
Handy
As usual after a holiday owners and charterers both try to get a feel of the market. An Armada of Supras were talking to ballast towards USG, ...
Thursday, 05 January 12
DRY BULK MARKET TAKES A PLUNGE OF LOW ACTIVITY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
As was widely expected the first days of the new year are characterized by significantly low chartering across the board of the dry bulk market, pus ...
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- Iligan Light & Power Inc, Philippines
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- Indika Energy - Indonesia
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- GMR Energy Limited - India
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- SMG Consultants - Indonesia
- Australian Commodity Traders Exchange
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- Petron Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- San Jose City I Power Corp, Philippines
- TeaM Sual Corporation - Philippines
- Carbofer General Trading SA - India
- Billiton Holdings Pty Ltd - Australia
- The University of Queensland
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- Trasteel International SA, Italy
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- Mjunction Services Limited - India
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- European Bulk Services B.V. - Netherlands
- Metalloyd Limited - United Kingdom
- Coal and Oil Company - UAE
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- Bank of Tokyo Mitsubishi UFJ Ltd
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- ASAPP Information Group - India
- Orica Mining Services - Indonesia
- Globalindo Alam Lestari - Indonesia
- McConnell Dowell - Australia
- Uttam Galva Steels Limited - India
- Anglo American - United Kingdom
- Bangladesh Power Developement Board
- Samtan Co., Ltd - South Korea
- Standard Chartered Bank - UAE
- Australian Coal Association
- Tamil Nadu electricity Board
- Meralco Power Generation, Philippines
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- Ind-Barath Power Infra Limited - India
- Mercuria Energy - Indonesia
- Power Finance Corporation Ltd., India
- IHS Mccloskey Coal Group - USA
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- Georgia Ports Authority, United States
- Aboitiz Power Corporation - Philippines
- Indian Oil Corporation Limited
- Indian Energy Exchange, India
- Singapore Mercantile Exchange
- PetroVietnam Power Coal Import and Supply Company
- Posco Energy - South Korea
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- Cement Manufacturers Association - India
- Binh Thuan Hamico - Vietnam
- Indonesian Coal Mining Association
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- Parliament of New Zealand
- Altura Mining Limited, Indonesia
- Mercator Lines Limited - India
- Merrill Lynch Commodities Europe
- Electricity Authority, New Zealand
- Eastern Energy - Thailand
- Dalmia Cement Bharat India
- Planning Commission, India
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- London Commodity Brokers - England
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- Bulk Trading Sa - Switzerland
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- SN Aboitiz Power Inc, Philippines
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- New Zealand Coal & Carbon
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- Neyveli Lignite Corporation Ltd, - India
- Alfred C Toepfer International GmbH - Germany
- Wood Mackenzie - Singapore
- Essar Steel Hazira Ltd - India
- Larsen & Toubro Limited - India
- Sojitz Corporation - Japan
- Commonwealth Bank - Australia
- Ministry of Mines - Canada
- Ministry of Transport, Egypt
- Gujarat Mineral Development Corp Ltd - India
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- Indogreen Group - Indonesia
- Edison Trading Spa - Italy
- White Energy Company Limited
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- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
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- India Bulls Power Limited - India
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- Interocean Group of Companies - India
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- Rio Tinto Coal - Australia
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- Baramulti Group, Indonesia
- Semirara Mining Corp, Philippines
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- Simpson Spence & Young - Indonesia
- Tata Chemicals Ltd - India
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- Bayan Resources Tbk. - Indonesia
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- Pendopo Energi Batubara - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
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- The State Trading Corporation of India Ltd
- Chamber of Mines of South Africa
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- OPG Power Generation Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- Africa Commodities Group - South Africa
- Bhatia International Limited - India
- Thai Mozambique Logistica
- PTC India Limited - India
- IEA Clean Coal Centre - UK
- GVK Power & Infra Limited - India
- Vedanta Resources Plc - India
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- Sindya Power Generating Company Private Ltd
- Riau Bara Harum - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Coastal Gujarat Power Limited - India
- Price Waterhouse Coopers - Russia
- Thiess Contractors Indonesia
- The Treasury - Australian Government
- Global Coal Blending Company Limited - Australia
- Oldendorff Carriers - Singapore
- Ministry of Finance - Indonesia
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- Romanian Commodities Exchange
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- Central Electricity Authority - India
- Xindia Steels Limited - India
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- Coalindo Energy - Indonesia
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- Wilmar Investment Holdings
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- Offshore Bulk Terminal Pte Ltd, Singapore
- AsiaOL BioFuels Corp., Philippines
- South Luzon Thermal Energy Corporation
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- Economic Council, Georgia
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