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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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Wednesday, 14 December 11
MINER TOBA BARA SEJAHTRA PLANS IPO IN 1ST HALF OF 2012 - THE JAKARTA GLOBE
The Jakarta Globe reported that, Coal miner Toba Bara Sejahtra is aiming high next year, hoping to capitalize on renewed bullish sentiment in the lo ...
Wednesday, 14 December 11
TIMAH PLANS TO BOOST ITS COAL PRODUCTION TO TWO MILLION TONS PER ANNUM - SOURCES
COALspot.com - Timah plans to boost its coal production to two million tons per annum. The company also expects to acquire coal concession with mini ...
Wednesday, 14 December 11
BORNEO RESOURCE INVESTMENTS LTD. FINALIZES ACQUISITION OF INTEGRA PRIMA
COALspot.com - Borneo Resource Investments Ltd., announced that it has finalized the acquisition of an additional 1,300 hectare coal mining concessi ...
Tuesday, 13 December 11
BERAU COAL SCOUTS US$1.61 BIO SALES - INSIDER STORIES
Insider Stories reported that, coal mining company PT Berau Coal Energy Tbk (BRAU), that is 85% owned by London-listed company Bumi Plc, estimates a ...
Tuesday, 13 December 11
CAPESIZES AND PANAMAXES LEAD DRY BULK MARKET HIGHER - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market inched closer to the 2,000 mark on Monday, with Panamaxes rebounding firmly and leading the gains. As a result, the industry&rsq ...
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- Kapuas Tunggal Persada - Indonesia
- Binh Thuan Hamico - Vietnam
- Ministry of Transport, Egypt
- Central Java Power - Indonesia
- Sojitz Corporation - Japan
- Electricity Authority, New Zealand
- Therma Luzon, Inc, Philippines
- Independent Power Producers Association of India
- Wood Mackenzie - Singapore
- Parry Sugars Refinery, India
- Metalloyd Limited - United Kingdom
- Gujarat Mineral Development Corp Ltd - India
- Mercuria Energy - Indonesia
- Kaltim Prima Coal - Indonesia
- Xindia Steels Limited - India
- Tamil Nadu electricity Board
- Maharashtra Electricity Regulatory Commission - India
- Directorate Of Revenue Intelligence - India
- Marubeni Corporation - India
- Bhoruka Overseas - Indonesia
- Coal and Oil Company - UAE
- Eastern Coal Council - USA
- Eastern Energy - Thailand
- New Zealand Coal & Carbon
- TNB Fuel Sdn Bhd - Malaysia
- Africa Commodities Group - South Africa
- PowerSource Philippines DevCo
- Georgia Ports Authority, United States
- Merrill Lynch Commodities Europe
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- The Treasury - Australian Government
- Parliament of New Zealand
- Australian Coal Association
- Dalmia Cement Bharat India
- Kalimantan Lumbung Energi - Indonesia
- Coalindo Energy - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- ICICI Bank Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Semirara Mining and Power Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- Ministry of Mines - Canada
- Cement Manufacturers Association - India
- Global Coal Blending Company Limited - Australia
- Kartika Selabumi Mining - Indonesia
- Iligan Light & Power Inc, Philippines
- Global Green Power PLC Corporation, Philippines
- Kepco SPC Power Corporation, Philippines
- Altura Mining Limited, Indonesia
- Deloitte Consulting - India
- Krishnapatnam Port Company Ltd. - India
- Bukit Asam (Persero) Tbk - Indonesia
- Economic Council, Georgia
- VISA Power Limited - India
- Sakthi Sugars Limited - India
- PNOC Exploration Corporation - Philippines
- Medco Energi Mining Internasional
- Bhatia International Limited - India
- Bulk Trading Sa - Switzerland
- Pipit Mutiara Jaya. PT, Indonesia
- The University of Queensland
- Aditya Birla Group - India
- CIMB Investment Bank - Malaysia
- Edison Trading Spa - Italy
- Cigading International Bulk Terminal - Indonesia
- PTC India Limited - India
- Malabar Cements Ltd - India
- Mintek Dendrill Indonesia
- McConnell Dowell - Australia
- Neyveli Lignite Corporation Ltd, - India
- Makarim & Taira - Indonesia
- Essar Steel Hazira Ltd - India
- Lanco Infratech Ltd - India
- Bukit Makmur.PT - Indonesia
- IEA Clean Coal Centre - UK
- Planning Commission, India
- Straits Asia Resources Limited - Singapore
- Interocean Group of Companies - India
- Savvy Resources Ltd - HongKong
- Sical Logistics Limited - India
- Indogreen Group - Indonesia
- Electricity Generating Authority of Thailand
- Simpson Spence & Young - Indonesia
- Oldendorff Carriers - Singapore
- Billiton Holdings Pty Ltd - Australia
- Chettinad Cement Corporation Ltd - India
- Intertek Mineral Services - Indonesia
- Commonwealth Bank - Australia
- Bharathi Cement Corporation - India
- Goldman Sachs - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- GAC Shipping (India) Pvt Ltd
- Barasentosa Lestari - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Singapore Mercantile Exchange
- Maheswari Brothers Coal Limited - India
- Miang Besar Coal Terminal - Indonesia
- Renaissance Capital - South Africa
- San Jose City I Power Corp, Philippines
- Uttam Galva Steels Limited - India
- IHS Mccloskey Coal Group - USA
- Kumho Petrochemical, South Korea
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- Siam City Cement - Thailand
- European Bulk Services B.V. - Netherlands
- Toyota Tsusho Corporation, Japan
- SMC Global Power, Philippines
- Indian Oil Corporation Limited
- Meralco Power Generation, Philippines
- Posco Energy - South Korea
- Attock Cement Pakistan Limited
- Thiess Contractors Indonesia
- Orica Australia Pty. Ltd.
- Videocon Industries ltd - India
- AsiaOL BioFuels Corp., Philippines
- GMR Energy Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Latin American Coal - Colombia
- Timah Investasi Mineral - Indoneisa
- Carbofer General Trading SA - India
- SN Aboitiz Power Inc, Philippines
- Indika Energy - Indonesia
- Jindal Steel & Power Ltd - India
- Rio Tinto Coal - Australia
- Minerals Council of Australia
- Standard Chartered Bank - UAE
- MS Steel International - UAE
- Borneo Indobara - Indonesia
- Power Finance Corporation Ltd., India
- Bukit Baiduri Energy - Indonesia
- TeaM Sual Corporation - Philippines
- Salva Resources Pvt Ltd - India
- Heidelberg Cement - Germany
- Kideco Jaya Agung - Indonesia
- White Energy Company Limited
- Semirara Mining Corp, Philippines
- Jaiprakash Power Ventures ltd
- GVK Power & Infra Limited - India
- Anglo American - United Kingdom
- ASAPP Information Group - India
- The State Trading Corporation of India Ltd
- Formosa Plastics Group - Taiwan
- Sindya Power Generating Company Private Ltd
- Price Waterhouse Coopers - Russia
- Sarangani Energy Corporation, Philippines
- Tata Chemicals Ltd - India
- Antam Resourcindo - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Wilmar Investment Holdings
- Port Waratah Coal Services - Australia
- International Coal Ventures Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Romanian Commodities Exchange
- GN Power Mariveles Coal Plant, Philippines
- Indian Energy Exchange, India
- Vizag Seaport Private Limited - India
- Ministry of Finance - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- OPG Power Generation Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- Karaikal Port Pvt Ltd - India
- London Commodity Brokers - England
- Vedanta Resources Plc - India
- Thai Mozambique Logistica
- Mercator Lines Limited - India
- Bangladesh Power Developement Board
- Riau Bara Harum - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Bhushan Steel Limited - India
- Siam City Cement PLC, Thailand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Meenaskhi Energy Private Limited - India
- Gujarat Sidhee Cement - India
- Star Paper Mills Limited - India
- Indo Tambangraya Megah - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Madhucon Powers Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Coastal Gujarat Power Limited - India
- SMG Consultants - Indonesia
- Manunggal Multi Energi - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Orica Mining Services - Indonesia
- Pendopo Energi Batubara - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Grasim Industreis Ltd - India
- Agrawal Coal Company - India
- Ind-Barath Power Infra Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indonesian Coal Mining Association
- Ceylon Electricity Board - Sri Lanka
- South Luzon Thermal Energy Corporation
- Kobexindo Tractors - Indoneisa
- Petron Corporation, Philippines
- Ambuja Cements Ltd - India
- Chamber of Mines of South Africa
- Energy Link Ltd, New Zealand
- Central Electricity Authority - India
- Australian Commodity Traders Exchange
- Gujarat Electricity Regulatory Commission - India
- Leighton Contractors Pty Ltd - Australia
- Mjunction Services Limited - India
- Energy Development Corp, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Baramulti Group, Indonesia
- Sinarmas Energy and Mining - Indonesia
- CNBM International Corporation - China
- Global Business Power Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- Banpu Public Company Limited - Thailand
- Trasteel International SA, Italy
- LBH Netherlands Bv - Netherlands
- Samtan Co., Ltd - South Korea
- Larsen & Toubro Limited - India
- India Bulls Power Limited - India
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