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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, 08 December 11
HAREDA KRIDA GETS CONTRACT FROM BAYAN - INSIDER STORIES
Insider Stories reported that, coal miner PT Bayan Resources Tbk (BYAN), through its subsidiary dubbed PT Gunungbayan Pratamacoal (GPB), has signed ...
Thursday, 08 December 11
CAPESIZES LIFT DRY BULK MARKET - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Capesize vessels yesterday helped lift the dry bulk market which had been falling since the start of the week on lower cargo demand. As a result the ...
Wednesday, 07 December 11
ABM INVESTAMA EYES RP6.3 TRIO REVENUE - INSIDER STORIES
Insider Stories reported that, an energy integrated company PT ABM Investama Tbk is eyeing a 1.5 folds increase in revenue this year from Rp4. ...
Tuesday, 06 December 11
DRY BULK MARKET ENDS RALLY, STARTS WEEK WITH FALL - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
After a series of increases which saw the dry bulk market’s benchmark, the Baltic Dry Index (BDI) increasing close to 1,900 points and rates o ...
Monday, 05 December 11
THE DECEMBER HBA FELL 11% FROM ITS PEAK AT US$127.05 PER TON IN FEBRUARY 2011
COALspot.com - Ministry of Energy and Mineral Resources of Indonesia has sets the December 2011 coal reference price at US$ 112.67 per ton US$ 3.98 ...
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- Formosa Plastics Group - Taiwan
- Mercator Lines Limited - India
- The Treasury - Australian Government
- Offshore Bulk Terminal Pte Ltd, Singapore
- Edison Trading Spa - Italy
- Samtan Co., Ltd - South Korea
- Jaiprakash Power Ventures ltd
- Jorong Barutama Greston.PT - Indonesia
- Price Waterhouse Coopers - Russia
- Coalindo Energy - Indonesia
- Central Electricity Authority - India
- Metalloyd Limited - United Kingdom
- Ministry of Finance - Indonesia
- Pendopo Energi Batubara - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Energy Development Corp, Philippines
- Indonesian Coal Mining Association
- Simpson Spence & Young - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Madhucon Powers Ltd - India
- Australian Commodity Traders Exchange
- Romanian Commodities Exchange
- Eastern Coal Council - USA
- Aboitiz Power Corporation - Philippines
- PNOC Exploration Corporation - Philippines
- Mjunction Services Limited - India
- Meralco Power Generation, Philippines
- SN Aboitiz Power Inc, Philippines
- Electricity Generating Authority of Thailand
- VISA Power Limited - India
- SMG Consultants - Indonesia
- Coastal Gujarat Power Limited - India
- Carbofer General Trading SA - India
- Baramulti Group, Indonesia
- Ministry of Mines - Canada
- Karbindo Abesyapradhi - Indoneisa
- Borneo Indobara - Indonesia
- LBH Netherlands Bv - Netherlands
- Sree Jayajothi Cements Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Binh Thuan Hamico - Vietnam
- Standard Chartered Bank - UAE
- Latin American Coal - Colombia
- Indika Energy - Indonesia
- Agrawal Coal Company - India
- Salva Resources Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- Karaikal Port Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Sakthi Sugars Limited - India
- Gujarat Electricity Regulatory Commission - India
- Orica Mining Services - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Barasentosa Lestari - Indonesia
- Bukit Makmur.PT - Indonesia
- Trasteel International SA, Italy
- Miang Besar Coal Terminal - Indonesia
- Mercuria Energy - Indonesia
- Australian Coal Association
- Cement Manufacturers Association - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Electricity Authority, New Zealand
- Tamil Nadu electricity Board
- International Coal Ventures Pvt Ltd - India
- Gujarat Sidhee Cement - India
- ICICI Bank Limited - India
- Wood Mackenzie - Singapore
- Port Waratah Coal Services - Australia
- Oldendorff Carriers - Singapore
- Directorate Of Revenue Intelligence - India
- Toyota Tsusho Corporation, Japan
- CNBM International Corporation - China
- Power Finance Corporation Ltd., India
- Sojitz Corporation - Japan
- SMC Global Power, Philippines
- Bayan Resources Tbk. - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Economic Council, Georgia
- Georgia Ports Authority, United States
- Renaissance Capital - South Africa
- Vijayanagar Sugar Pvt Ltd - India
- Wilmar Investment Holdings
- Krishnapatnam Port Company Ltd. - India
- Rashtriya Ispat Nigam Limited - India
- GAC Shipping (India) Pvt Ltd
- Marubeni Corporation - India
- Deloitte Consulting - India
- PTC India Limited - India
- Alfred C Toepfer International GmbH - Germany
- Ambuja Cements Ltd - India
- Jindal Steel & Power Ltd - India
- TeaM Sual Corporation - Philippines
- Goldman Sachs - Singapore
- Sindya Power Generating Company Private Ltd
- Siam City Cement - Thailand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- MS Steel International - UAE
- Thai Mozambique Logistica
- The University of Queensland
- South Luzon Thermal Energy Corporation
- Minerals Council of Australia
- Tata Chemicals Ltd - India
- Parliament of New Zealand
- Kobexindo Tractors - Indoneisa
- Bhatia International Limited - India
- Sical Logistics Limited - India
- Indian Energy Exchange, India
- Indogreen Group - Indonesia
- Indian Oil Corporation Limited
- Xindia Steels Limited - India
- Holcim Trading Pte Ltd - Singapore
- Global Green Power PLC Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- Uttam Galva Steels Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Independent Power Producers Association of India
- Singapore Mercantile Exchange
- OPG Power Generation Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- Banpu Public Company Limited - Thailand
- Kideco Jaya Agung - Indonesia
- Semirara Mining and Power Corporation, Philippines
- White Energy Company Limited
- Kapuas Tunggal Persada - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Interocean Group of Companies - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Riau Bara Harum - Indonesia
- Maheswari Brothers Coal Limited - India
- Indo Tambangraya Megah - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kalimantan Lumbung Energi - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Aditya Birla Group - India
- Essar Steel Hazira Ltd - India
- Bulk Trading Sa - Switzerland
- Kepco SPC Power Corporation, Philippines
- Medco Energi Mining Internasional
- CIMB Investment Bank - Malaysia
- Parry Sugars Refinery, India
- Energy Link Ltd, New Zealand
- McConnell Dowell - Australia
- Leighton Contractors Pty Ltd - Australia
- Cigading International Bulk Terminal - Indonesia
- New Zealand Coal & Carbon
- Bhoruka Overseas - Indonesia
- European Bulk Services B.V. - Netherlands
- GMR Energy Limited - India
- Anglo American - United Kingdom
- Semirara Mining Corp, Philippines
- Sarangani Energy Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Posco Energy - South Korea
- Larsen & Toubro Limited - India
- Eastern Energy - Thailand
- Kumho Petrochemical, South Korea
- Vizag Seaport Private Limited - India
- Ind-Barath Power Infra Limited - India
- Meenaskhi Energy Private Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Lanco Infratech Ltd - India
- Heidelberg Cement - Germany
- Global Coal Blending Company Limited - Australia
- Coal and Oil Company - UAE
- ASAPP Information Group - India
- Chamber of Mines of South Africa
- Thiess Contractors Indonesia
- London Commodity Brokers - England
- Iligan Light & Power Inc, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Altura Mining Limited, Indonesia
- Star Paper Mills Limited - India
- Attock Cement Pakistan Limited
- Orica Australia Pty. Ltd.
- Africa Commodities Group - South Africa
- San Jose City I Power Corp, Philippines
- Malabar Cements Ltd - India
- Central Java Power - Indonesia
- Intertek Mineral Services - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Chettinad Cement Corporation Ltd - India
- Timah Investasi Mineral - Indoneisa
- Bhushan Steel Limited - India
- Grasim Industreis Ltd - India
- Antam Resourcindo - Indonesia
- IHS Mccloskey Coal Group - USA
- Bharathi Cement Corporation - India
- Globalindo Alam Lestari - Indonesia
- Planning Commission, India
- Kaltim Prima Coal - Indonesia
- Rio Tinto Coal - Australia
- Bangladesh Power Developement Board
- IEA Clean Coal Centre - UK
- Global Business Power Corporation, Philippines
- Commonwealth Bank - Australia
- Vedanta Resources Plc - India
- Makarim & Taira - Indonesia
- Dalmia Cement Bharat India
- GN Power Mariveles Coal Plant, Philippines
- Ministry of Transport, Egypt
- Asmin Koalindo Tuhup - Indonesia
- GVK Power & Infra Limited - India
- Mintek Dendrill Indonesia
- Savvy Resources Ltd - HongKong
- Petron Corporation, Philippines
- Merrill Lynch Commodities Europe
- India Bulls Power Limited - India
- Videocon Industries ltd - India
- Siam City Cement PLC, Thailand
- The State Trading Corporation of India Ltd
- TNB Fuel Sdn Bhd - Malaysia
- Bukit Baiduri Energy - Indonesia
- PowerSource Philippines DevCo
- Ceylon Electricity Board - Sri Lanka
- Billiton Holdings Pty Ltd - Australia
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