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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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Wednesday, 04 January 12
NEWBUILDING ORDERS PICKED UP IN 2011, BUT 2012 EXPECTED TO BE A DIFFERENT STORY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
With the BDI (Baltic Dry Index) starting the year on a sour note, losing 114 points and ending yesterday’s session, the first of the new year, ...
Wednesday, 04 January 12
MAHAGENCO TO IMPORT LOW MOISTURE COAL
COALspot.com - Maharashtra State Power Generation Co. Ltd. is the state power generation utility owned by Government of Maharashtra, intends to proc ...
Tuesday, 03 January 12
INDONESIA COAL REFERENCE PRICE FELL AGAIN
COALspot.com - Ministry of Energy and Mineral Resources of Indonesia has sets the January 2012 coal reference price at US$ 109.29 per ton or US$ 3.3 ...
Tuesday, 03 January 12
WHICH WAY WILL THE DRY BULK MARKET HEAD ON FIRST WEEK OF THE YEAR? - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Dry bulk ship owners will be wondering which way will the BDI (Baltic Dry Index), the industry’s benchmark, will head during the first days of ...
Monday, 02 January 12
THE PROMISE OF INDIA: A BRIEF INTERRUPTION? - CLARKSONS / HELLENIC SHIPPING
Future growth in Indian seaborne coal imports has sometimes been considered as one of the largest potential upsides in the currently oversupplied dr ...
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- Maheswari Brothers Coal Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Edison Trading Spa - Italy
- Medco Energi Mining Internasional
- Savvy Resources Ltd - HongKong
- Miang Besar Coal Terminal - Indonesia
- New Zealand Coal & Carbon
- Essar Steel Hazira Ltd - India
- Price Waterhouse Coopers - Russia
- Sarangani Energy Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- Global Business Power Corporation, Philippines
- Indian Energy Exchange, India
- Georgia Ports Authority, United States
- Directorate Of Revenue Intelligence - India
- Coal and Oil Company - UAE
- Semirara Mining Corp, Philippines
- Australian Commodity Traders Exchange
- Timah Investasi Mineral - Indoneisa
- Ministry of Transport, Egypt
- European Bulk Services B.V. - Netherlands
- Metalloyd Limited - United Kingdom
- Ceylon Electricity Board - Sri Lanka
- Semirara Mining and Power Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- Indika Energy - Indonesia
- Ministry of Mines - Canada
- Bhatia International Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Economic Council, Georgia
- Cigading International Bulk Terminal - Indonesia
- Globalindo Alam Lestari - Indonesia
- Carbofer General Trading SA - India
- Marubeni Corporation - India
- Global Coal Blending Company Limited - Australia
- Ambuja Cements Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Uttam Galva Steels Limited - India
- Alfred C Toepfer International GmbH - Germany
- Jindal Steel & Power Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Central Java Power - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indogreen Group - Indonesia
- Goldman Sachs - Singapore
- Binh Thuan Hamico - Vietnam
- MS Steel International - UAE
- Gujarat Mineral Development Corp Ltd - India
- Bharathi Cement Corporation - India
- Bukit Makmur.PT - Indonesia
- Independent Power Producers Association of India
- Sakthi Sugars Limited - India
- McConnell Dowell - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Siam City Cement PLC, Thailand
- Directorate General of MIneral and Coal - Indonesia
- The Treasury - Australian Government
- Larsen & Toubro Limited - India
- Straits Asia Resources Limited - Singapore
- Krishnapatnam Port Company Ltd. - India
- LBH Netherlands Bv - Netherlands
- Xindia Steels Limited - India
- Indonesian Coal Mining Association
- Bukit Baiduri Energy - Indonesia
- Sindya Power Generating Company Private Ltd
- Electricity Authority, New Zealand
- Bukit Asam (Persero) Tbk - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Petron Corporation, Philippines
- Chamber of Mines of South Africa
- Kumho Petrochemical, South Korea
- India Bulls Power Limited - India
- Mjunction Services Limited - India
- Singapore Mercantile Exchange
- Neyveli Lignite Corporation Ltd, - India
- Vedanta Resources Plc - India
- Standard Chartered Bank - UAE
- Videocon Industries ltd - India
- Indian Oil Corporation Limited
- Samtan Co., Ltd - South Korea
- Borneo Indobara - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Orica Mining Services - Indonesia
- Coastal Gujarat Power Limited - India
- GVK Power & Infra Limited - India
- Ind-Barath Power Infra Limited - India
- PTC India Limited - India
- Cement Manufacturers Association - India
- Bhushan Steel Limited - India
- Gujarat Sidhee Cement - India
- Power Finance Corporation Ltd., India
- PowerSource Philippines DevCo
- Antam Resourcindo - Indonesia
- Attock Cement Pakistan Limited
- Commonwealth Bank - Australia
- International Coal Ventures Pvt Ltd - India
- Energy Development Corp, Philippines
- Toyota Tsusho Corporation, Japan
- The University of Queensland
- Kaltim Prima Coal - Indonesia
- Vizag Seaport Private Limited - India
- Electricity Generating Authority of Thailand
- ASAPP Information Group - India
- Meralco Power Generation, Philippines
- Star Paper Mills Limited - India
- Merrill Lynch Commodities Europe
- Sojitz Corporation - Japan
- PetroVietnam Power Coal Import and Supply Company
- Bayan Resources Tbk. - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Altura Mining Limited, Indonesia
- IEA Clean Coal Centre - UK
- White Energy Company Limited
- Karaikal Port Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Australian Coal Association
- Parry Sugars Refinery, India
- Romanian Commodities Exchange
- Africa Commodities Group - South Africa
- Manunggal Multi Energi - Indonesia
- Port Waratah Coal Services - Australia
- Sree Jayajothi Cements Limited - India
- Holcim Trading Pte Ltd - Singapore
- Bangladesh Power Developement Board
- Mercator Lines Limited - India
- London Commodity Brokers - England
- Grasim Industreis Ltd - India
- PNOC Exploration Corporation - Philippines
- San Jose City I Power Corp, Philippines
- SMC Global Power, Philippines
- Global Green Power PLC Corporation, Philippines
- Aditya Birla Group - India
- Madhucon Powers Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Jaiprakash Power Ventures ltd
- Billiton Holdings Pty Ltd - Australia
- Minerals Council of Australia
- Siam City Cement - Thailand
- CIMB Investment Bank - Malaysia
- Bulk Trading Sa - Switzerland
- CNBM International Corporation - China
- Baramulti Group, Indonesia
- GAC Shipping (India) Pvt Ltd
- Heidelberg Cement - Germany
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Tamil Nadu electricity Board
- Deloitte Consulting - India
- Wood Mackenzie - Singapore
- Karbindo Abesyapradhi - Indoneisa
- Aboitiz Power Corporation - Philippines
- Renaissance Capital - South Africa
- Thai Mozambique Logistica
- Eastern Energy - Thailand
- Kideco Jaya Agung - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Tata Chemicals Ltd - India
- Simpson Spence & Young - Indonesia
- Rio Tinto Coal - Australia
- Planning Commission, India
- Mintek Dendrill Indonesia
- Leighton Contractors Pty Ltd - Australia
- Sinarmas Energy and Mining - Indonesia
- Chettinad Cement Corporation Ltd - India
- SMG Consultants - Indonesia
- South Luzon Thermal Energy Corporation
- Central Electricity Authority - India
- Interocean Group of Companies - India
- Orica Australia Pty. Ltd.
- Kepco SPC Power Corporation, Philippines
- Riau Bara Harum - Indonesia
- Lanco Infratech Ltd - India
- Posco Energy - South Korea
- Banpu Public Company Limited - Thailand
- Kartika Selabumi Mining - Indonesia
- Barasentosa Lestari - Indonesia
- Meenaskhi Energy Private Limited - India
- Kobexindo Tractors - Indoneisa
- Anglo American - United Kingdom
- Makarim & Taira - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- SN Aboitiz Power Inc, Philippines
- Wilmar Investment Holdings
- Indo Tambangraya Megah - Indonesia
- Coalindo Energy - Indonesia
- Eastern Coal Council - USA
- GMR Energy Limited - India
- Malabar Cements Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Mercuria Energy - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Parliament of New Zealand
- Latin American Coal - Colombia
- Trasteel International SA, Italy
- ICICI Bank Limited - India
- Ministry of Finance - Indonesia
- Intertek Mineral Services - Indonesia
- AsiaOL BioFuels Corp., Philippines
- TeaM Sual Corporation - Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Sical Logistics Limited - India
- Formosa Plastics Group - Taiwan
- Salva Resources Pvt Ltd - India
- The State Trading Corporation of India Ltd
- Petrochimia International Co. Ltd.- Taiwan
- Therma Luzon, Inc, Philippines
- Pendopo Energi Batubara - Indonesia
- VISA Power Limited - India
- IHS Mccloskey Coal Group - USA
- Energy Link Ltd, New Zealand
- Oldendorff Carriers - Singapore
- Agrawal Coal Company - India
- Thiess Contractors Indonesia
- Bhoruka Overseas - Indonesia
- Dalmia Cement Bharat India
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