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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, 24 December 11
CHINAS LEVEL OF GROWTH TO DETERMINE COURSE OF DRY BULK MARKET IN 2012 SAYS SHIPBROKER - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
In its latest report, shipbroker Intermodal attempted to find a silver lining in the tough year that was 2011, as well as what one could expect from ...
Friday, 23 December 11
SPOT PACIFIC CAPESIZE VESSELS HAVE COMMANDED HIGH PREMIUMS - FEARNLEYS
Handy
Rates in the Atlantic kept stable from last week, with a touch of negativity closer to the end. Less spot cargoes seen, and owners are ...
Friday, 23 December 11
CONTENTIOUS ISSUES IN CONTRACT RENEGOTIATION - THE JAKARTA POST
The government has been renegotiating mining contracts, especially those 30-40 years old, with almost all mining companies, including PT Freeport In ...
Friday, 23 December 11
LANCO JOINS HANDS WITH BUKIT ASAM FOR INDONESIAN POWER PROJECT
COALspot.com - PT Tambang Batubara Bukit Asam, Indonesia's state owned coal miner and Indian based Lanco Infratech Ltd plans to build steam power p ...
Thursday, 22 December 11
RI WILL NOT PLAY CATCH-UP WITH GLOBAL COAL DEMAND - THE JAKARTA POST
The Jakarta Post reported that, the International Energy Agency (IEA) has predicted in its Coal Market Report 2011 that over the next five years, gl ...
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- Georgia Ports Authority, United States
- Bhoruka Overseas - Indonesia
- Orica Australia Pty. Ltd.
- Semirara Mining and Power Corporation, Philippines
- Indika Energy - Indonesia
- Power Finance Corporation Ltd., India
- Simpson Spence & Young - Indonesia
- OPG Power Generation Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Sical Logistics Limited - India
- SMG Consultants - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indo Tambangraya Megah - Indonesia
- Bhushan Steel Limited - India
- Mercuria Energy - Indonesia
- Makarim & Taira - Indonesia
- Orica Mining Services - Indonesia
- Ind-Barath Power Infra Limited - India
- Commonwealth Bank - Australia
- Latin American Coal - Colombia
- Global Coal Blending Company Limited - Australia
- Kapuas Tunggal Persada - Indonesia
- Wood Mackenzie - Singapore
- Kalimantan Lumbung Energi - Indonesia
- Vizag Seaport Private Limited - India
- SN Aboitiz Power Inc, Philippines
- Siam City Cement PLC, Thailand
- Karbindo Abesyapradhi - Indoneisa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sree Jayajothi Cements Limited - India
- Kepco SPC Power Corporation, Philippines
- Sojitz Corporation - Japan
- Kideco Jaya Agung - Indonesia
- Indogreen Group - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Minerals Council of Australia
- Kartika Selabumi Mining - Indonesia
- The Treasury - Australian Government
- Interocean Group of Companies - India
- Parry Sugars Refinery, India
- International Coal Ventures Pvt Ltd - India
- Trasteel International SA, Italy
- GN Power Mariveles Coal Plant, Philippines
- Holcim Trading Pte Ltd - Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Australian Commodity Traders Exchange
- Energy Development Corp, Philippines
- Chamber of Mines of South Africa
- Madhucon Powers Ltd - India
- Malabar Cements Ltd - India
- Independent Power Producers Association of India
- Renaissance Capital - South Africa
- Bank of Tokyo Mitsubishi UFJ Ltd
- Tamil Nadu electricity Board
- Manunggal Multi Energi - Indonesia
- GAC Shipping (India) Pvt Ltd
- GMR Energy Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Indonesian Coal Mining Association
- PNOC Exploration Corporation - Philippines
- Deloitte Consulting - India
- Baramulti Group, Indonesia
- Bayan Resources Tbk. - Indonesia
- New Zealand Coal & Carbon
- Ministry of Mines - Canada
- Grasim Industreis Ltd - India
- Economic Council, Georgia
- South Luzon Thermal Energy Corporation
- AsiaOL BioFuels Corp., Philippines
- Larsen & Toubro Limited - India
- Kumho Petrochemical, South Korea
- Altura Mining Limited, Indonesia
- Global Green Power PLC Corporation, Philippines
- Mjunction Services Limited - India
- Samtan Co., Ltd - South Korea
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Heidelberg Cement - Germany
- IHS Mccloskey Coal Group - USA
- Electricity Generating Authority of Thailand
- The State Trading Corporation of India Ltd
- Tata Chemicals Ltd - India
- Bangladesh Power Developement Board
- ASAPP Information Group - India
- Straits Asia Resources Limited - Singapore
- Globalindo Alam Lestari - Indonesia
- Anglo American - United Kingdom
- Meenaskhi Energy Private Limited - India
- Uttam Galva Steels Limited - India
- Gujarat Sidhee Cement - India
- Maharashtra Electricity Regulatory Commission - India
- Agrawal Coal Company - India
- Aditya Birla Group - India
- Siam City Cement - Thailand
- Videocon Industries ltd - India
- Antam Resourcindo - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Bulk Trading Sa - Switzerland
- Coalindo Energy - Indonesia
- Thiess Contractors Indonesia
- Planning Commission, India
- Formosa Plastics Group - Taiwan
- Asmin Koalindo Tuhup - Indonesia
- TeaM Sual Corporation - Philippines
- Pendopo Energi Batubara - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Bukit Makmur.PT - Indonesia
- VISA Power Limited - India
- Romanian Commodities Exchange
- Bahari Cakrawala Sebuku - Indonesia
- India Bulls Power Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kobexindo Tractors - Indoneisa
- Cement Manufacturers Association - India
- Sinarmas Energy and Mining - Indonesia
- Binh Thuan Hamico - Vietnam
- Karaikal Port Pvt Ltd - India
- IEA Clean Coal Centre - UK
- Bukit Asam (Persero) Tbk - Indonesia
- Attock Cement Pakistan Limited
- Vedanta Resources Plc - India
- Neyveli Lignite Corporation Ltd, - India
- Barasentosa Lestari - Indonesia
- McConnell Dowell - Australia
- Sakthi Sugars Limited - India
- Parliament of New Zealand
- Wilmar Investment Holdings
- Alfred C Toepfer International GmbH - Germany
- Billiton Holdings Pty Ltd - Australia
- Aboitiz Power Corporation - Philippines
- SMC Global Power, Philippines
- London Commodity Brokers - England
- PowerSource Philippines DevCo
- Chettinad Cement Corporation Ltd - India
- Energy Link Ltd, New Zealand
- Ministry of Finance - Indonesia
- Mercator Lines Limited - India
- Electricity Authority, New Zealand
- Central Electricity Authority - India
- Standard Chartered Bank - UAE
- Savvy Resources Ltd - HongKong
- Merrill Lynch Commodities Europe
- CIMB Investment Bank - Malaysia
- Jindal Steel & Power Ltd - India
- MS Steel International - UAE
- Therma Luzon, Inc, Philippines
- Star Paper Mills Limited - India
- Bhatia International Limited - India
- Intertek Mineral Services - Indonesia
- Toyota Tsusho Corporation, Japan
- European Bulk Services B.V. - Netherlands
- Salva Resources Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Price Waterhouse Coopers - Russia
- Carbofer General Trading SA - India
- Coal and Oil Company - UAE
- Coastal Gujarat Power Limited - India
- Directorate Of Revenue Intelligence - India
- Cigading International Bulk Terminal - Indonesia
- PTC India Limited - India
- Kaltim Prima Coal - Indonesia
- Goldman Sachs - Singapore
- TNB Fuel Sdn Bhd - Malaysia
- Africa Commodities Group - South Africa
- Central Java Power - Indonesia
- Indian Oil Corporation Limited
- Riau Bara Harum - Indonesia
- Oldendorff Carriers - Singapore
- Xindia Steels Limited - India
- Krishnapatnam Port Company Ltd. - India
- Posco Energy - South Korea
- Eastern Coal Council - USA
- Mintek Dendrill Indonesia
- Bharathi Cement Corporation - India
- Maheswari Brothers Coal Limited - India
- Jaiprakash Power Ventures ltd
- ICICI Bank Limited - India
- Bukit Baiduri Energy - Indonesia
- Banpu Public Company Limited - Thailand
- Metalloyd Limited - United Kingdom
- Marubeni Corporation - India
- Thai Mozambique Logistica
- Eastern Energy - Thailand
- CNBM International Corporation - China
- Edison Trading Spa - Italy
- Jorong Barutama Greston.PT - Indonesia
- Ministry of Transport, Egypt
- Australian Coal Association
- Ambuja Cements Ltd - India
- Singapore Mercantile Exchange
- Pipit Mutiara Jaya. PT, Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Lanco Infratech Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Port Waratah Coal Services - Australia
- Kohat Cement Company Ltd. - Pakistan
- Dalmia Cement Bharat India
- Indian Energy Exchange, India
- Meralco Power Generation, Philippines
- Borneo Indobara - Indonesia
- LBH Netherlands Bv - Netherlands
- San Jose City I Power Corp, Philippines
- Petron Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Essar Steel Hazira Ltd - India
- Iligan Light & Power Inc, Philippines
- White Energy Company Limited
- Global Business Power Corporation, Philippines
- Sarangani Energy Corporation, Philippines
- GVK Power & Infra Limited - India
- Rio Tinto Coal - Australia
- Sindya Power Generating Company Private Ltd
- The University of Queensland
- Semirara Mining Corp, Philippines
- Gujarat Electricity Regulatory Commission - India
- Timah Investasi Mineral - Indoneisa
- Medco Energi Mining Internasional
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