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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, 01 January 12
IS INDIA FOLLOWING INDONESIA TO STANDARDIZE COAL PRICES TO GET MAXIMUM BENEFITS?
COALspot.com - Coal India limited, an Indian state owned and world largest coal producer has introduced gross calorific value (GCV) based pricing me ...
Saturday, 31 December 11
GLOBALCOAL NEWC INDEX SURGED 2.32 PERCENT
COALspot.com - globalCOAL index in Newcastle Port, benchmark for Asian market, ended substantially higher, surged 2.32 percent to US$115.47 per ...
Saturday, 31 December 11
BORNEO LUMBUNG TO BUY BUMI STAKE, SWAP CEO - THE JAKARTA GLOBE
The Jakarta Globe, one of the leading english news paper in Indonesia reported yesterday, shareholders of Indonesian coking coal miner Borneo Lumbun ...
Friday, 30 December 11
CENTRAL GOVERNMENT SHOULD ISSUE PERMITS - THE JAKARTA POST
The Jakarta Post reported that, business associations from both the palm oil and mining sectors have suggested that the central government should re ...
Thursday, 29 December 11
NEW VESSELS DELIVERED ARE FLOODING THE OCEANS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
As expected 2011 has been the year that newbuilding deliveries peaked and kept "flooding" the market, thus supressing freight rates and er ...
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- Larsen & Toubro Limited - India
- Sindya Power Generating Company Private Ltd
- Bukit Makmur.PT - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Maharashtra Electricity Regulatory Commission - India
- Sarangani Energy Corporation, Philippines
- Mercator Lines Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Meenaskhi Energy Private Limited - India
- Kepco SPC Power Corporation, Philippines
- Bhushan Steel Limited - India
- Rio Tinto Coal - Australia
- Africa Commodities Group - South Africa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Riau Bara Harum - Indonesia
- Makarim & Taira - Indonesia
- MS Steel International - UAE
- Bahari Cakrawala Sebuku - Indonesia
- Australian Commodity Traders Exchange
- Indian Energy Exchange, India
- Ministry of Mines - Canada
- Tamil Nadu electricity Board
- Medco Energi Mining Internasional
- Antam Resourcindo - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- Jaiprakash Power Ventures ltd
- Altura Mining Limited, Indonesia
- Timah Investasi Mineral - Indoneisa
- OPG Power Generation Pvt Ltd - India
- SMG Consultants - Indonesia
- Marubeni Corporation - India
- Orica Australia Pty. Ltd.
- Intertek Mineral Services - Indonesia
- Vedanta Resources Plc - India
- Sical Logistics Limited - India
- Metalloyd Limited - United Kingdom
- CIMB Investment Bank - Malaysia
- Oldendorff Carriers - Singapore
- Ceylon Electricity Board - Sri Lanka
- Ambuja Cements Ltd - India
- Independent Power Producers Association of India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Samtan Co., Ltd - South Korea
- Salva Resources Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Price Waterhouse Coopers - Russia
- Bangladesh Power Developement Board
- Ministry of Transport, Egypt
- Standard Chartered Bank - UAE
- Global Coal Blending Company Limited - Australia
- Kideco Jaya Agung - Indonesia
- Global Green Power PLC Corporation, Philippines
- London Commodity Brokers - England
- Eastern Energy - Thailand
- Kartika Selabumi Mining - Indonesia
- New Zealand Coal & Carbon
- Coal and Oil Company - UAE
- San Jose City I Power Corp, Philippines
- Globalindo Alam Lestari - Indonesia
- Therma Luzon, Inc, Philippines
- ASAPP Information Group - India
- India Bulls Power Limited - India
- Sree Jayajothi Cements Limited - India
- SN Aboitiz Power Inc, Philippines
- Neyveli Lignite Corporation Ltd, - India
- CNBM International Corporation - China
- Krishnapatnam Port Company Ltd. - India
- Thiess Contractors Indonesia
- Kapuas Tunggal Persada - Indonesia
- ICICI Bank Limited - India
- VISA Power Limited - India
- Siam City Cement PLC, Thailand
- PowerSource Philippines DevCo
- South Luzon Thermal Energy Corporation
- Barasentosa Lestari - Indonesia
- Karaikal Port Pvt Ltd - India
- Renaissance Capital - South Africa
- Ministry of Finance - Indonesia
- Attock Cement Pakistan Limited
- Thai Mozambique Logistica
- Parry Sugars Refinery, India
- Malabar Cements Ltd - India
- Bukit Baiduri Energy - Indonesia
- Cement Manufacturers Association - India
- Central Java Power - Indonesia
- Formosa Plastics Group - Taiwan
- GMR Energy Limited - India
- Latin American Coal - Colombia
- Minerals Council of Australia
- Sinarmas Energy and Mining - Indonesia
- Straits Asia Resources Limited - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Posco Energy - South Korea
- Eastern Coal Council - USA
- Indian Oil Corporation Limited
- LBH Netherlands Bv - Netherlands
- Indika Energy - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Tata Chemicals Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Borneo Indobara - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Sojitz Corporation - Japan
- Aditya Birla Group - India
- SMC Global Power, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Holcim Trading Pte Ltd - Singapore
- PTC India Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Port Waratah Coal Services - Australia
- Coastal Gujarat Power Limited - India
- Pendopo Energi Batubara - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Global Business Power Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- The State Trading Corporation of India Ltd
- TNB Fuel Sdn Bhd - Malaysia
- Heidelberg Cement - Germany
- Australian Coal Association
- Indogreen Group - Indonesia
- Madhucon Powers Ltd - India
- Savvy Resources Ltd - HongKong
- Dalmia Cement Bharat India
- Chamber of Mines of South Africa
- Grasim Industreis Ltd - India
- Trasteel International SA, Italy
- GN Power Mariveles Coal Plant, Philippines
- International Coal Ventures Pvt Ltd - India
- Orica Mining Services - Indonesia
- Maheswari Brothers Coal Limited - India
- Bulk Trading Sa - Switzerland
- Bayan Resources Tbk. - Indonesia
- Petron Corporation, Philippines
- Star Paper Mills Limited - India
- Electricity Generating Authority of Thailand
- Economic Council, Georgia
- Billiton Holdings Pty Ltd - Australia
- Aboitiz Power Corporation - Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Baramulti Group, Indonesia
- Romanian Commodities Exchange
- Agrawal Coal Company - India
- Anglo American - United Kingdom
- Semirara Mining Corp, Philippines
- IEA Clean Coal Centre - UK
- AsiaOL BioFuels Corp., Philippines
- Mjunction Services Limited - India
- Wood Mackenzie - Singapore
- Rashtriya Ispat Nigam Limited - India
- Gujarat Sidhee Cement - India
- Gujarat Mineral Development Corp Ltd - India
- Siam City Cement - Thailand
- The Treasury - Australian Government
- Bhatia International Limited - India
- Kobexindo Tractors - Indoneisa
- Wilmar Investment Holdings
- Xindia Steels Limited - India
- Simpson Spence & Young - Indonesia
- Deloitte Consulting - India
- Kohat Cement Company Ltd. - Pakistan
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Mintek Dendrill Indonesia
- Central Electricity Authority - India
- Goldman Sachs - Singapore
- Sakthi Sugars Limited - India
- Carbofer General Trading SA - India
- Toyota Tsusho Corporation, Japan
- Power Finance Corporation Ltd., India
- White Energy Company Limited
- Georgia Ports Authority, United States
- Mercuria Energy - Indonesia
- McConnell Dowell - Australia
- Planning Commission, India
- Singapore Mercantile Exchange
- Essar Steel Hazira Ltd - India
- Parliament of New Zealand
- Ind-Barath Power Infra Limited - India
- Binh Thuan Hamico - Vietnam
- TeaM Sual Corporation - Philippines
- Lanco Infratech Ltd - India
- PNOC Exploration Corporation - Philippines
- Kaltim Prima Coal - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Directorate Of Revenue Intelligence - India
- Bhoruka Overseas - Indonesia
- GAC Shipping (India) Pvt Ltd
- Electricity Authority, New Zealand
- Interocean Group of Companies - India
- Commonwealth Bank - Australia
- Jorong Barutama Greston.PT - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Indonesian Coal Mining Association
- Kumho Petrochemical, South Korea
- Karbindo Abesyapradhi - Indoneisa
- Energy Link Ltd, New Zealand
- Edison Trading Spa - Italy
- Bharathi Cement Corporation - India
- Kalimantan Lumbung Energi - Indonesia
- Semirara Mining and Power Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- Meralco Power Generation, Philippines
- Jindal Steel & Power Ltd - India
- Manunggal Multi Energi - Indonesia
- The University of Queensland
- Bank of Tokyo Mitsubishi UFJ Ltd
- Energy Development Corp, Philippines
- Coalindo Energy - Indonesia
- GVK Power & Infra Limited - India
- Uttam Galva Steels Limited - India
- Vizag Seaport Private Limited - India
- Videocon Industries ltd - India
- Indo Tambangraya Megah - Indonesia
- Iligan Light & Power Inc, Philippines
- European Bulk Services B.V. - Netherlands
- Merrill Lynch Commodities Europe
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