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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, 27 December 11
MINERS MAKE CASE FOR RESUMING CONTRACT NEGOTIATIONS - THE JAKARTA POST
The Jakarta Post reported that, problems with the renegotiation of mining contracts in the country are far from over, as agreements on several cruci ...
Tuesday, 27 December 11
COAL SHIPMENT OF TIANJIN PORT REACHED 6.72 MLN TONNES IN NOVEMBER - STEEL HOME / HELLENIC SHIPPING
Tianjin port shipped 6.72 million tonnes of coal in November, decreasing 600,000 tonnes versus 7.32 million tonnes in October, while up 21.09% or 1. ...
Tuesday, 27 December 11
NEW CLAUSE PUBLISHED FOR SLOW STEAMING - BIMCO
Many owners and operators faced with high bunker prices are considering implementing slow steaming regimes to save fuel and to assist with capacity ...
Monday, 26 December 11
NEW EXPORT TAX PLAN GREETED WITH PRAISE AND CRITICISM - THE JAKARTA POST
The Jakarta Post, one of the Indonesia's leading english news paper reported that, both praise and criticism showered the government’s plan t ...
Sunday, 25 December 11
THERMAL COAL PRICES GAINED UP TO 4.32 PERCENT
COALspot.com - globalCOAL index gained 4.32 percent to US$106.36 per ton in RBCT, benchmark for South Asia and West Europe markets, for the week end ...
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Showing 4911 to 4915 news of total 6871 |
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- Intertek Mineral Services - Indonesia
- Siam City Cement - Thailand
- Kaltim Prima Coal - Indonesia
- Rio Tinto Coal - Australia
- Indonesian Coal Mining Association
- Indogreen Group - Indonesia
- Tamil Nadu electricity Board
- Carbofer General Trading SA - India
- European Bulk Services B.V. - Netherlands
- Semirara Mining Corp, Philippines
- Iligan Light & Power Inc, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Independent Power Producers Association of India
- Uttam Galva Steels Limited - India
- Australian Coal Association
- Planning Commission, India
- Bukit Makmur.PT - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Kideco Jaya Agung - Indonesia
- Videocon Industries ltd - India
- Cement Manufacturers Association - India
- PNOC Exploration Corporation - Philippines
- Oldendorff Carriers - Singapore
- PowerSource Philippines DevCo
- Formosa Plastics Group - Taiwan
- Globalindo Alam Lestari - Indonesia
- Simpson Spence & Young - Indonesia
- Indian Energy Exchange, India
- SMC Global Power, Philippines
- Global Green Power PLC Corporation, Philippines
- Coal and Oil Company - UAE
- Pipit Mutiara Jaya. PT, Indonesia
- Economic Council, Georgia
- Ministry of Transport, Egypt
- Jaiprakash Power Ventures ltd
- Kobexindo Tractors - Indoneisa
- Neyveli Lignite Corporation Ltd, - India
- London Commodity Brokers - England
- Bhatia International Limited - India
- The Treasury - Australian Government
- Holcim Trading Pte Ltd - Singapore
- Indo Tambangraya Megah - Indonesia
- Star Paper Mills Limited - India
- GVK Power & Infra Limited - India
- White Energy Company Limited
- Energy Link Ltd, New Zealand
- Metalloyd Limited - United Kingdom
- Ministry of Mines - Canada
- Mjunction Services Limited - India
- Lanco Infratech Ltd - India
- Chamber of Mines of South Africa
- Coastal Gujarat Power Limited - India
- Medco Energi Mining Internasional
- SMG Consultants - Indonesia
- The University of Queensland
- Vedanta Resources Plc - India
- TeaM Sual Corporation - Philippines
- SN Aboitiz Power Inc, Philippines
- Attock Cement Pakistan Limited
- Minerals Council of Australia
- Ministry of Finance - Indonesia
- Salva Resources Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- Barasentosa Lestari - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Posco Energy - South Korea
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Orica Mining Services - Indonesia
- Trasteel International SA, Italy
- IEA Clean Coal Centre - UK
- Sindya Power Generating Company Private Ltd
- Bhushan Steel Limited - India
- Bharathi Cement Corporation - India
- Ind-Barath Power Infra Limited - India
- Heidelberg Cement - Germany
- Bahari Cakrawala Sebuku - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- PTC India Limited - India
- Borneo Indobara - Indonesia
- Deloitte Consulting - India
- Romanian Commodities Exchange
- IHS Mccloskey Coal Group - USA
- Petron Corporation, Philippines
- Jindal Steel & Power Ltd - India
- Aditya Birla Group - India
- Renaissance Capital - South Africa
- AsiaOL BioFuels Corp., Philippines
- Baramulti Group, Indonesia
- McConnell Dowell - Australia
- Gujarat Sidhee Cement - India
- International Coal Ventures Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- Agrawal Coal Company - India
- Krishnapatnam Port Company Ltd. - India
- Miang Besar Coal Terminal - Indonesia
- GAC Shipping (India) Pvt Ltd
- Eastern Energy - Thailand
- Directorate Of Revenue Intelligence - India
- Sical Logistics Limited - India
- Riau Bara Harum - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Price Waterhouse Coopers - Russia
- Karbindo Abesyapradhi - Indoneisa
- Larsen & Toubro Limited - India
- Timah Investasi Mineral - Indoneisa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- GMR Energy Limited - India
- Makarim & Taira - Indonesia
- Xindia Steels Limited - India
- Chettinad Cement Corporation Ltd - India
- Commonwealth Bank - Australia
- The State Trading Corporation of India Ltd
- Wood Mackenzie - Singapore
- Kumho Petrochemical, South Korea
- PetroVietnam Power Coal Import and Supply Company
- Mercator Lines Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Eastern Coal Council - USA
- Binh Thuan Hamico - Vietnam
- Goldman Sachs - Singapore
- Malabar Cements Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- GN Power Mariveles Coal Plant, Philippines
- Global Coal Blending Company Limited - Australia
- LBH Netherlands Bv - Netherlands
- Coalindo Energy - Indonesia
- Thai Mozambique Logistica
- Sarangani Energy Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- Central Electricity Authority - India
- Sree Jayajothi Cements Limited - India
- Edison Trading Spa - Italy
- Global Business Power Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Toyota Tsusho Corporation, Japan
- Thiess Contractors Indonesia
- CIMB Investment Bank - Malaysia
- Merrill Lynch Commodities Europe
- OPG Power Generation Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Mintek Dendrill Indonesia
- Interocean Group of Companies - India
- Maheswari Brothers Coal Limited - India
- Cigading International Bulk Terminal - Indonesia
- VISA Power Limited - India
- Electricity Authority, New Zealand
- Latin American Coal - Colombia
- Energy Development Corp, Philippines
- ICICI Bank Limited - India
- Orica Australia Pty. Ltd.
- India Bulls Power Limited - India
- Tata Chemicals Ltd - India
- Australian Commodity Traders Exchange
- Gujarat Electricity Regulatory Commission - India
- Parry Sugars Refinery, India
- Semirara Mining and Power Corporation, Philippines
- ASAPP Information Group - India
- CNBM International Corporation - China
- Wilmar Investment Holdings
- Straits Asia Resources Limited - Singapore
- Petrochimia International Co. Ltd.- Taiwan
- Sakthi Sugars Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Manunggal Multi Energi - Indonesia
- Marubeni Corporation - India
- Grasim Industreis Ltd - India
- Kartika Selabumi Mining - Indonesia
- Africa Commodities Group - South Africa
- Ceylon Electricity Board - Sri Lanka
- Dalmia Cement Bharat India
- Singapore Mercantile Exchange
- MS Steel International - UAE
- Bulk Trading Sa - Switzerland
- Vizag Seaport Private Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Power Finance Corporation Ltd., India
- Rashtriya Ispat Nigam Limited - India
- Standard Chartered Bank - UAE
- Electricity Generating Authority of Thailand
- Bayan Resources Tbk. - Indonesia
- Savvy Resources Ltd - HongKong
- Bank of Tokyo Mitsubishi UFJ Ltd
- Pendopo Energi Batubara - Indonesia
- Mercuria Energy - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Kalimantan Lumbung Energi - Indonesia
- Karaikal Port Pvt Ltd - India
- Indika Energy - Indonesia
- Banpu Public Company Limited - Thailand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Georgia Ports Authority, United States
- Antam Resourcindo - Indonesia
- Parliament of New Zealand
- Directorate General of MIneral and Coal - Indonesia
- Bangladesh Power Developement Board
- Meralco Power Generation, Philippines
- San Jose City I Power Corp, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Ambuja Cements Ltd - India
- Sojitz Corporation - Japan
- Central Java Power - Indonesia
- Meenaskhi Energy Private Limited - India
- Essar Steel Hazira Ltd - India
- Port Waratah Coal Services - Australia
- Maharashtra Electricity Regulatory Commission - India
- Siam City Cement PLC, Thailand
- Samtan Co., Ltd - South Korea
- Therma Luzon, Inc, Philippines
- Madhucon Powers Ltd - India
- Altura Mining Limited, Indonesia
- Anglo American - United Kingdom
- Aboitiz Power Corporation - Philippines
- Bhoruka Overseas - Indonesia
- Indian Oil Corporation Limited
- Bukit Asam (Persero) Tbk - Indonesia
- New Zealand Coal & Carbon
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