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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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Monday, 12 December 11
DRY BULK MARKET LOOKING FOR BALANCE AS WE ENTER 2012 - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
During the past few months, freight rates for dry bulk carriers, especially Capesizes have increased significantly, providing ship owners with a muc ...
Sunday, 11 December 11
THE PANAMAX INDEX ENDED ON POSITIVE DIRECTION - VISTAAR
COALspot.com - The BDI and Cape index continued the upward trend this week also with BDI up by 3.00 pct closing at 1,922 points and Cape index up by ...
Saturday, 10 December 11
MAHAKAM RIVER RESUMES COAL TRANSPORTATION
COALspot.com - East Kalimantan local government has resumed limited coal barging through Mahakam River after two weeks of suspension following the c ...
Friday, 09 December 11
DRY BULK MARKET REBOUNDS ON HEALTHIER DEMAND OUTLOOK - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market edged forward yesterday, at the highest rate of the past couple of weeks, as a result of stonger iron ore demand, backed by lowe ...
Thursday, 08 December 11
INDIA MAY SEE 41% ANNUAL GROWTH OF ITS COAL DEMAND DURING THE NEXT 5 YEARS - ICAP SHIPPING
India’s Ministry of Coal expects that India’s coal demand may face an annual 41% rise during the next 5 years, while its coal deficit is ...
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- Offshore Bulk Terminal Pte Ltd, Singapore
- Bulk Trading Sa - Switzerland
- Thiess Contractors Indonesia
- Ministry of Transport, Egypt
- Coalindo Energy - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Wood Mackenzie - Singapore
- London Commodity Brokers - England
- Mjunction Services Limited - India
- Economic Council, Georgia
- Electricity Generating Authority of Thailand
- Commonwealth Bank - Australia
- Price Waterhouse Coopers - Russia
- Kaltim Prima Coal - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Bukit Baiduri Energy - Indonesia
- Goldman Sachs - Singapore
- Billiton Holdings Pty Ltd - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Coal and Oil Company - UAE
- Indonesian Coal Mining Association
- Semirara Mining Corp, Philippines
- Ambuja Cements Ltd - India
- Kepco SPC Power Corporation, Philippines
- Marubeni Corporation - India
- Rashtriya Ispat Nigam Limited - India
- Simpson Spence & Young - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Manunggal Multi Energi - Indonesia
- Antam Resourcindo - Indonesia
- Larsen & Toubro Limited - India
- Bhoruka Overseas - Indonesia
- Indogreen Group - Indonesia
- Tata Chemicals Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Trasteel International SA, Italy
- LBH Netherlands Bv - Netherlands
- Directorate Of Revenue Intelligence - India
- McConnell Dowell - Australia
- Alfred C Toepfer International GmbH - Germany
- IEA Clean Coal Centre - UK
- Sakthi Sugars Limited - India
- Mercuria Energy - Indonesia
- Star Paper Mills Limited - India
- Interocean Group of Companies - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- Energy Development Corp, Philippines
- Renaissance Capital - South Africa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Vedanta Resources Plc - India
- Cigading International Bulk Terminal - Indonesia
- Agrawal Coal Company - India
- Indika Energy - Indonesia
- Romanian Commodities Exchange
- Kideco Jaya Agung - Indonesia
- Globalindo Alam Lestari - Indonesia
- Savvy Resources Ltd - HongKong
- Samtan Co., Ltd - South Korea
- Latin American Coal - Colombia
- Posco Energy - South Korea
- Indian Oil Corporation Limited
- Global Coal Blending Company Limited - Australia
- Energy Link Ltd, New Zealand
- ASAPP Information Group - India
- Riau Bara Harum - Indonesia
- Makarim & Taira - Indonesia
- Essar Steel Hazira Ltd - India
- Bhatia International Limited - India
- White Energy Company Limited
- Uttam Galva Steels Limited - India
- Chettinad Cement Corporation Ltd - India
- New Zealand Coal & Carbon
- Videocon Industries ltd - India
- Dalmia Cement Bharat India
- CIMB Investment Bank - Malaysia
- Edison Trading Spa - Italy
- Kohat Cement Company Ltd. - Pakistan
- Coastal Gujarat Power Limited - India
- India Bulls Power Limited - India
- GN Power Mariveles Coal Plant, Philippines
- The State Trading Corporation of India Ltd
- Gujarat Mineral Development Corp Ltd - India
- South Luzon Thermal Energy Corporation
- Ceylon Electricity Board - Sri Lanka
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Bayan Resources Tbk. - Indonesia
- Indo Tambangraya Megah - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Barasentosa Lestari - Indonesia
- Petron Corporation, Philippines
- Heidelberg Cement - Germany
- Global Business Power Corporation, Philippines
- Ministry of Mines - Canada
- ICICI Bank Limited - India
- Kumho Petrochemical, South Korea
- Bukit Makmur.PT - Indonesia
- Salva Resources Pvt Ltd - India
- PTC India Limited - India
- Mercator Lines Limited - India
- PNOC Exploration Corporation - Philippines
- Sree Jayajothi Cements Limited - India
- Bharathi Cement Corporation - India
- Leighton Contractors Pty Ltd - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Orica Australia Pty. Ltd.
- Jorong Barutama Greston.PT - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Power Finance Corporation Ltd., India
- Therma Luzon, Inc, Philippines
- Sarangani Energy Corporation, Philippines
- Indian Energy Exchange, India
- Minerals Council of Australia
- The Treasury - Australian Government
- Borneo Indobara - Indonesia
- Kartika Selabumi Mining - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Central Electricity Authority - India
- Binh Thuan Hamico - Vietnam
- Maheswari Brothers Coal Limited - India
- Iligan Light & Power Inc, Philippines
- The University of Queensland
- SMC Global Power, Philippines
- Attock Cement Pakistan Limited
- Banpu Public Company Limited - Thailand
- Independent Power Producers Association of India
- Kobexindo Tractors - Indoneisa
- Krishnapatnam Port Company Ltd. - India
- Deloitte Consulting - India
- Eastern Coal Council - USA
- PetroVietnam Power Coal Import and Supply Company
- Sical Logistics Limited - India
- Global Green Power PLC Corporation, Philippines
- Jaiprakash Power Ventures ltd
- Sojitz Corporation - Japan
- Sindya Power Generating Company Private Ltd
- Jindal Steel & Power Ltd - India
- Straits Asia Resources Limited - Singapore
- Vizag Seaport Private Limited - India
- Siam City Cement - Thailand
- International Coal Ventures Pvt Ltd - India
- Baramulti Group, Indonesia
- Grasim Industreis Ltd - India
- Singapore Mercantile Exchange
- Merrill Lynch Commodities Europe
- Holcim Trading Pte Ltd - Singapore
- Karaikal Port Pvt Ltd - India
- Meralco Power Generation, Philippines
- Cement Manufacturers Association - India
- Medco Energi Mining Internasional
- Gujarat Electricity Regulatory Commission - India
- Karbindo Abesyapradhi - Indoneisa
- GMR Energy Limited - India
- Africa Commodities Group - South Africa
- Parliament of New Zealand
- GVK Power & Infra Limited - India
- OPG Power Generation Pvt Ltd - India
- Mintek Dendrill Indonesia
- GAC Shipping (India) Pvt Ltd
- Oldendorff Carriers - Singapore
- Australian Commodity Traders Exchange
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- CNBM International Corporation - China
- Tamil Nadu electricity Board
- Wilmar Investment Holdings
- Ministry of Finance - Indonesia
- Formosa Plastics Group - Taiwan
- SMG Consultants - Indonesia
- Orica Mining Services - Indonesia
- Bhushan Steel Limited - India
- Chamber of Mines of South Africa
- Carbofer General Trading SA - India
- Timah Investasi Mineral - Indoneisa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Standard Chartered Bank - UAE
- Eastern Energy - Thailand
- Gujarat Sidhee Cement - India
- AsiaOL BioFuels Corp., Philippines
- Madhucon Powers Ltd - India
- San Jose City I Power Corp, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Ind-Barath Power Infra Limited - India
- Aditya Birla Group - India
- European Bulk Services B.V. - Netherlands
- Australian Coal Association
- Intertek Mineral Services - Indonesia
- Thai Mozambique Logistica
- Rio Tinto Coal - Australia
- Metalloyd Limited - United Kingdom
- Bangladesh Power Developement Board
- PowerSource Philippines DevCo
- Anglo American - United Kingdom
- Lanco Infratech Ltd - India
- MS Steel International - UAE
- Toyota Tsusho Corporation, Japan
- Miang Besar Coal Terminal - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Port Waratah Coal Services - Australia
- Altura Mining Limited, Indonesia
- SN Aboitiz Power Inc, Philippines
- Xindia Steels Limited - India
- Parry Sugars Refinery, India
- Semirara Mining and Power Corporation, Philippines
- Central Java Power - Indonesia
- Pendopo Energi Batubara - Indonesia
- Georgia Ports Authority, United States
- Planning Commission, India
- VISA Power Limited - India
- Electricity Authority, New Zealand
- Malabar Cements Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Siam City Cement PLC, Thailand
- Meenaskhi Energy Private Limited - India
- IHS Mccloskey Coal Group - USA
- TeaM Sual Corporation - Philippines
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