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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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Thursday, 22 December 11
DRY BULK MARKET KEEPS LOSING TRACTION AHEAD OF HOLIDAY SEASON - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market kept retreating in the middle of the week, as charterers seem to be looking towards the holiday season and the start of the new ye ...
Tuesday, 20 December 11
THE COAL IMPORT INTO CHINA WAS QUIETER AS COAL STOCKS WERE AT HIGH LEVELS - BRS
The BDI ended the week at 1888 points (-1.8%), the BCI corrected to 3572 (-3.4%), the BPI was up at 1,775 (+3.6%), the BSI dropped to 1193 (-3.0%) a ...
Tuesday, 20 December 11
INDIA IMPORTS 66.41 PERCENT MORE COAL FROM INDONESIA LAST MONTH - SOURCES
COALspot.com: Indonesia, the world largest coal exporter, shipped 33.476* mln mt of coal in November, which is slightly higher than its Octobe ...
Monday, 19 December 11
KOPEX COMMITS ADDITIONAL ONE MILLION DOLLAR FOR PT TRANSCOAL MINERGY
COALspot.com - Mining contractor Kopex has agreed to extend a further US$1 million to finance the remainder of the expanded drill program at PT Tran ...
Monday, 19 December 11
PLN WILL NO LONGER BUY COAL FROM TRADERS
COALspot.com - Indonesia's state electricity company PT Perusahaan Listrik Negara will no longer allow traders to become their suppliers, said, its ...
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- ASAPP Information Group - India
- Orica Australia Pty. Ltd.
- Jorong Barutama Greston.PT - Indonesia
- Sree Jayajothi Cements Limited - India
- Pendopo Energi Batubara - Indonesia
- Agrawal Coal Company - India
- Bulk Trading Sa - Switzerland
- Directorate Of Revenue Intelligence - India
- Sinarmas Energy and Mining - Indonesia
- Eastern Energy - Thailand
- Bayan Resources Tbk. - Indonesia
- Parliament of New Zealand
- Madhucon Powers Ltd - India
- Orica Mining Services - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Antam Resourcindo - Indonesia
- Lanco Infratech Ltd - India
- Georgia Ports Authority, United States
- TeaM Sual Corporation - Philippines
- Ceylon Electricity Board - Sri Lanka
- SMG Consultants - Indonesia
- Medco Energi Mining Internasional
- Uttam Galva Steels Limited - India
- Central Electricity Authority - India
- Gujarat Electricity Regulatory Commission - India
- India Bulls Power Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Karaikal Port Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- Africa Commodities Group - South Africa
- CNBM International Corporation - China
- Kepco SPC Power Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- Kaltim Prima Coal - Indonesia
- Intertek Mineral Services - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Siam City Cement PLC, Thailand
- Sakthi Sugars Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Mjunction Services Limited - India
- Formosa Plastics Group - Taiwan
- Cigading International Bulk Terminal - Indonesia
- Borneo Indobara - Indonesia
- Baramulti Group, Indonesia
- Bharathi Cement Corporation - India
- Aditya Birla Group - India
- Banpu Public Company Limited - Thailand
- Altura Mining Limited, Indonesia
- Kalimantan Lumbung Energi - Indonesia
- VISA Power Limited - India
- Sojitz Corporation - Japan
- ICICI Bank Limited - India
- Globalindo Alam Lestari - Indonesia
- Semirara Mining Corp, Philippines
- Marubeni Corporation - India
- Karbindo Abesyapradhi - Indoneisa
- Essar Steel Hazira Ltd - India
- Salva Resources Pvt Ltd - India
- Posco Energy - South Korea
- Cement Manufacturers Association - India
- Coastal Gujarat Power Limited - India
- Carbofer General Trading SA - India
- Chamber of Mines of South Africa
- Coalindo Energy - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Indika Energy - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- PTC India Limited - India
- MS Steel International - UAE
- Grasim Industreis Ltd - India
- Jindal Steel & Power Ltd - India
- Straits Asia Resources Limited - Singapore
- Electricity Authority, New Zealand
- Indian Oil Corporation Limited
- The State Trading Corporation of India Ltd
- International Coal Ventures Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- Renaissance Capital - South Africa
- The University of Queensland
- SMC Global Power, Philippines
- Commonwealth Bank - Australia
- Riau Bara Harum - Indonesia
- Thiess Contractors Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Kobexindo Tractors - Indoneisa
- Oldendorff Carriers - Singapore
- Planning Commission, India
- Metalloyd Limited - United Kingdom
- Larsen & Toubro Limited - India
- Krishnapatnam Port Company Ltd. - India
- Videocon Industries ltd - India
- Meralco Power Generation, Philippines
- Makarim & Taira - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- San Jose City I Power Corp, Philippines
- Mercator Lines Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Vijayanagar Sugar Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- Tata Chemicals Ltd - India
- Gujarat Sidhee Cement - India
- Jaiprakash Power Ventures ltd
- Alfred C Toepfer International GmbH - Germany
- Attock Cement Pakistan Limited
- Minerals Council of Australia
- South Luzon Thermal Energy Corporation
- Dalmia Cement Bharat India
- Deloitte Consulting - India
- The Treasury - Australian Government
- IHS Mccloskey Coal Group - USA
- Independent Power Producers Association of India
- Sindya Power Generating Company Private Ltd
- Maheswari Brothers Coal Limited - India
- Heidelberg Cement - Germany
- Coal and Oil Company - UAE
- Sical Logistics Limited - India
- Romanian Commodities Exchange
- White Energy Company Limited
- Directorate General of MIneral and Coal - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- GVK Power & Infra Limited - India
- London Commodity Brokers - England
- Australian Commodity Traders Exchange
- Malabar Cements Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Asmin Koalindo Tuhup - Indonesia
- Star Paper Mills Limited - India
- Samtan Co., Ltd - South Korea
- Binh Thuan Hamico - Vietnam
- Parry Sugars Refinery, India
- Bhatia International Limited - India
- Central Java Power - Indonesia
- CIMB Investment Bank - Malaysia
- Indo Tambangraya Megah - Indonesia
- Ministry of Finance - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kideco Jaya Agung - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Wilmar Investment Holdings
- Siam City Cement - Thailand
- European Bulk Services B.V. - Netherlands
- SN Aboitiz Power Inc, Philippines
- Economic Council, Georgia
- Merrill Lynch Commodities Europe
- Therma Luzon, Inc, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Global Green Power PLC Corporation, Philippines
- Trasteel International SA, Italy
- Bangladesh Power Developement Board
- Thai Mozambique Logistica
- Meenaskhi Energy Private Limited - India
- Rashtriya Ispat Nigam Limited - India
- Xindia Steels Limited - India
- Ind-Barath Power Infra Limited - India
- Simpson Spence & Young - Indonesia
- Electricity Generating Authority of Thailand
- Wood Mackenzie - Singapore
- Indian Energy Exchange, India
- Global Business Power Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- Ambuja Cements Ltd - India
- Eastern Coal Council - USA
- Holcim Trading Pte Ltd - Singapore
- Rio Tinto Coal - Australia
- Mercuria Energy - Indonesia
- Power Finance Corporation Ltd., India
- Chettinad Cement Corporation Ltd - India
- Ministry of Mines - Canada
- Indogreen Group - Indonesia
- Anglo American - United Kingdom
- Goldman Sachs - Singapore
- Kartika Selabumi Mining - Indonesia
- Global Coal Blending Company Limited - Australia
- Toyota Tsusho Corporation, Japan
- Maharashtra Electricity Regulatory Commission - India
- OPG Power Generation Pvt Ltd - India
- Latin American Coal - Colombia
- Manunggal Multi Energi - Indonesia
- Singapore Mercantile Exchange
- Standard Chartered Bank - UAE
- Semirara Mining and Power Corporation, Philippines
- IEA Clean Coal Centre - UK
- Kumho Petrochemical, South Korea
- Timah Investasi Mineral - Indoneisa
- Vizag Seaport Private Limited - India
- Bhushan Steel Limited - India
- McConnell Dowell - Australia
- Sarangani Energy Corporation, Philippines
- Indonesian Coal Mining Association
- Aboitiz Power Corporation - Philippines
- Port Waratah Coal Services - Australia
- Miang Besar Coal Terminal - Indonesia
- New Zealand Coal & Carbon
- PowerSource Philippines DevCo
- Neyveli Lignite Corporation Ltd, - India
- GN Power Mariveles Coal Plant, Philippines
- PetroVietnam Power Coal Import and Supply Company
- GMR Energy Limited - India
- Australian Coal Association
- Ministry of Transport, Egypt
- Vedanta Resources Plc - India
- Barasentosa Lestari - Indonesia
- GAC Shipping (India) Pvt Ltd
- Bukit Asam (Persero) Tbk - Indonesia
- Tamil Nadu electricity Board
- Petron Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Mintek Dendrill Indonesia
- Bukit Makmur.PT - Indonesia
- Bukit Baiduri Energy - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Energy Link Ltd, New Zealand
- Price Waterhouse Coopers - Russia
- Energy Development Corp, Philippines
- Edison Trading Spa - Italy
- Interocean Group of Companies - India
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