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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, 17 December 11
THE FREIGHT MARKET SEEMS TO HAVE ALMOST BOTTOMED OUT AND MAY REMAIN STEADY AT THESE LEVELS CAPT REDDY
COALspot.com - The BDI and Cape index closed lower this week with BDI closing at 1,888 points (down by 1.76 pct) and Cape index at 3,572 points (dow ...
Friday, 16 December 11
DRY BULK MARKET LOSES TRACK ON CAPESIZE LOSSES, SHIP FINANCING REMAINS TROUBLESOME - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market didn’t manage to sustain earlier gains, losing track yesterday, on reduced Capesize demand and persisting troubles in smal ...
Thursday, 15 December 11
BERAU SEES INDIA AS POTENTIAL MARKET FOR LOW-CALORIE COAL - THE JAKARTA POST
The Jakarta Post reported that, Publicly listed coal mining company PT Berau Coal Energy (BRAU), the fifth largest coal producer in Indonesia, sees ...
Thursday, 15 December 11
PANAMAX HARDLY AFFECTED BY THE RECENT FIRMER TENDENCY FOR THE BIG SISTERS - FEARNBULK
Handy
The rates are more or less the same as last week. Continent/US Gulf fixing at tick below USD 10k and Gulf/Continent levels at USD 25k. Trips ...
Thursday, 15 December 11
DRY BULK RATES TO REMAIN AT CURRENT LEVELS FOR THE MOST PART IN THE COMING MONTHS SAYS BIMCO - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
In its latest research note, BIMCO said that the Capesize Time Charter Average will remain at USD 20,000-30,000 per day but the tonnage oversupply w ...
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- Electricity Generating Authority of Thailand
- Maheswari Brothers Coal Limited - India
- Semirara Mining Corp, Philippines
- Agrawal Coal Company - India
- Ministry of Finance - Indonesia
- Mercator Lines Limited - India
- Economic Council, Georgia
- Essar Steel Hazira Ltd - India
- PNOC Exploration Corporation - Philippines
- Simpson Spence & Young - Indonesia
- Ambuja Cements Ltd - India
- Altura Mining Limited, Indonesia
- Ind-Barath Power Infra Limited - India
- Coastal Gujarat Power Limited - India
- Price Waterhouse Coopers - Russia
- Grasim Industreis Ltd - India
- Singapore Mercantile Exchange
- Videocon Industries ltd - India
- GMR Energy Limited - India
- The University of Queensland
- Global Green Power PLC Corporation, Philippines
- Energy Link Ltd, New Zealand
- Kobexindo Tractors - Indoneisa
- Jorong Barutama Greston.PT - Indonesia
- Straits Asia Resources Limited - Singapore
- Commonwealth Bank - Australia
- Standard Chartered Bank - UAE
- Sical Logistics Limited - India
- Romanian Commodities Exchange
- Meralco Power Generation, Philippines
- Ministry of Transport, Egypt
- Posco Energy - South Korea
- Vedanta Resources Plc - India
- Bahari Cakrawala Sebuku - Indonesia
- Toyota Tsusho Corporation, Japan
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- The State Trading Corporation of India Ltd
- GAC Shipping (India) Pvt Ltd
- Indian Energy Exchange, India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Electricity Authority, New Zealand
- Sarangani Energy Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- India Bulls Power Limited - India
- Kartika Selabumi Mining - Indonesia
- Sree Jayajothi Cements Limited - India
- Tata Chemicals Ltd - India
- Chamber of Mines of South Africa
- Kalimantan Lumbung Energi - Indonesia
- Orica Mining Services - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Metalloyd Limited - United Kingdom
- Formosa Plastics Group - Taiwan
- Renaissance Capital - South Africa
- Intertek Mineral Services - Indonesia
- Gujarat Sidhee Cement - India
- Sindya Power Generating Company Private Ltd
- South Luzon Thermal Energy Corporation
- Chettinad Cement Corporation Ltd - India
- Holcim Trading Pte Ltd - Singapore
- IEA Clean Coal Centre - UK
- Eastern Coal Council - USA
- Directorate Of Revenue Intelligence - India
- Vizag Seaport Private Limited - India
- Barasentosa Lestari - Indonesia
- Kaltim Prima Coal - Indonesia
- Central Java Power - Indonesia
- IHS Mccloskey Coal Group - USA
- Samtan Co., Ltd - South Korea
- European Bulk Services B.V. - Netherlands
- Africa Commodities Group - South Africa
- Larsen & Toubro Limited - India
- Bharathi Cement Corporation - India
- Xindia Steels Limited - India
- Leighton Contractors Pty Ltd - Australia
- Billiton Holdings Pty Ltd - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- London Commodity Brokers - England
- PetroVietnam Power Coal Import and Supply Company
- The Treasury - Australian Government
- CNBM International Corporation - China
- Bank of Tokyo Mitsubishi UFJ Ltd
- Krishnapatnam Port Company Ltd. - India
- PTC India Limited - India
- Lanco Infratech Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Bulk Trading Sa - Switzerland
- Planning Commission, India
- Medco Energi Mining Internasional
- Bukit Baiduri Energy - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- MS Steel International - UAE
- Savvy Resources Ltd - HongKong
- Orica Australia Pty. Ltd.
- LBH Netherlands Bv - Netherlands
- Indika Energy - Indonesia
- International Coal Ventures Pvt Ltd - India
- Madhucon Powers Ltd - India
- Attock Cement Pakistan Limited
- Petron Corporation, Philippines
- McConnell Dowell - Australia
- Makarim & Taira - Indonesia
- Siam City Cement - Thailand
- Parliament of New Zealand
- ASAPP Information Group - India
- Anglo American - United Kingdom
- Mintek Dendrill Indonesia
- Marubeni Corporation - India
- Oldendorff Carriers - Singapore
- Trasteel International SA, Italy
- Central Electricity Authority - India
- Wilmar Investment Holdings
- Goldman Sachs - Singapore
- Bhushan Steel Limited - India
- Georgia Ports Authority, United States
- Pipit Mutiara Jaya. PT, Indonesia
- Bukit Makmur.PT - Indonesia
- Indogreen Group - Indonesia
- Aditya Birla Group - India
- SMC Global Power, Philippines
- Australian Coal Association
- Jaiprakash Power Ventures ltd
- Tamil Nadu electricity Board
- Meenaskhi Energy Private Limited - India
- Rio Tinto Coal - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Kideco Jaya Agung - Indonesia
- Global Coal Blending Company Limited - Australia
- Siam City Cement PLC, Thailand
- Timah Investasi Mineral - Indoneisa
- TNB Fuel Sdn Bhd - Malaysia
- Port Waratah Coal Services - Australia
- Indian Oil Corporation Limited
- Malabar Cements Ltd - India
- Coal and Oil Company - UAE
- Jindal Steel & Power Ltd - India
- CIMB Investment Bank - Malaysia
- Deloitte Consulting - India
- Vijayanagar Sugar Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Semirara Mining and Power Corporation, Philippines
- Independent Power Producers Association of India
- Karbindo Abesyapradhi - Indoneisa
- New Zealand Coal & Carbon
- Alfred C Toepfer International GmbH - Germany
- Wood Mackenzie - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Salva Resources Pvt Ltd - India
- Latin American Coal - Colombia
- Gujarat Electricity Regulatory Commission - India
- Bhoruka Overseas - Indonesia
- Binh Thuan Hamico - Vietnam
- Riau Bara Harum - Indonesia
- TeaM Sual Corporation - Philippines
- Karaikal Port Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Minerals Council of Australia
- SN Aboitiz Power Inc, Philippines
- Miang Besar Coal Terminal - Indonesia
- Power Finance Corporation Ltd., India
- Baramulti Group, Indonesia
- Ministry of Mines - Canada
- Parry Sugars Refinery, India
- Energy Development Corp, Philippines
- PowerSource Philippines DevCo
- Interocean Group of Companies - India
- Dalmia Cement Bharat India
- White Energy Company Limited
- Mercuria Energy - Indonesia
- Eastern Energy - Thailand
- Bayan Resources Tbk. - Indonesia
- Rashtriya Ispat Nigam Limited - India
- SMG Consultants - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Directorate General of MIneral and Coal - Indonesia
- Merrill Lynch Commodities Europe
- Therma Luzon, Inc, Philippines
- OPG Power Generation Pvt Ltd - India
- Antam Resourcindo - Indonesia
- Iligan Light & Power Inc, Philippines
- Thiess Contractors Indonesia
- Thai Mozambique Logistica
- Global Business Power Corporation, Philippines
- Sakthi Sugars Limited - India
- San Jose City I Power Corp, Philippines
- Kohat Cement Company Ltd. - Pakistan
- GVK Power & Infra Limited - India
- Mjunction Services Limited - India
- Kepco SPC Power Corporation, Philippines
- Coalindo Energy - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Carbofer General Trading SA - India
- Star Paper Mills Limited - India
- Uttam Galva Steels Limited - India
- Cigading International Bulk Terminal - Indonesia
- Sojitz Corporation - Japan
- Bangladesh Power Developement Board
- VISA Power Limited - India
- ICICI Bank Limited - India
- Kapuas Tunggal Persada - Indonesia
- Australian Commodity Traders Exchange
- Kumho Petrochemical, South Korea
- Bhatia International Limited - India
- Globalindo Alam Lestari - Indonesia
- Manunggal Multi Energi - Indonesia
- Borneo Indobara - Indonesia
- Banpu Public Company Limited - Thailand
- Cement Manufacturers Association - India
- Aboitiz Power Corporation - Philippines
- Indo Tambangraya Megah - Indonesia
- Indonesian Coal Mining Association
- Heidelberg Cement - Germany
- Edison Trading Spa - Italy
- Maharashtra Electricity Regulatory Commission - India
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