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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, 05 December 11
SGX LAUNCHED IHS MCCLOSKEY/XINHUA INFOLINK OTC CFR SOUTH CHINA COAL CONTRACT TODAY
COALspot.com - In order to meet the demand of the coal industry for an effective coal hedging tool with counterparty credit risk mitigation facility ...
Monday, 05 December 11
DRY BULK RATES LOOKING TO EXTEND GAINS THIS WEEK - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Capesize dry bulk carrier owners have had a great week, with rates rising for six straight sessions (including the end of the week before that). As ...
Sunday, 04 December 11
SUPRAMAX TRIPS VIA INDONESIA WERE REPORTED AROUND $ 7500 - 8000 PD
COALspot.com - The BDI and Cape index recovered this week. The BDI was up by 3.26 pct and Cape index saw a big jump and closed at 3409 points (up by ...
Saturday, 03 December 11
BORNEO TO SPEND US$600 MIO CAPEX - INSIDER STORIES
Insider Stories reported that, Coking coal miner PT Borneo Lumbung Energi & Metal Tbk (BORN) plans to spend US$600 million capital expenditure ( ...
Friday, 02 December 11
DRY BULK CARRIERS BACK IN THE SPOTLIGHT AS MARKET SPEEDS UP - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
With the tanker and container markets suffering dearly, it seems that the tide has once again turned in favor of the dry bulk carriers, despite over ...
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Showing 4946 to 4950 news of total 6871 |
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- Mintek Dendrill Indonesia
- Orica Australia Pty. Ltd.
- MS Steel International - UAE
- Binh Thuan Hamico - Vietnam
- Global Business Power Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Singapore Mercantile Exchange
- Coalindo Energy - Indonesia
- Timah Investasi Mineral - Indoneisa
- Semirara Mining and Power Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- VISA Power Limited - India
- Attock Cement Pakistan Limited
- Borneo Indobara - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Planning Commission, India
- Karbindo Abesyapradhi - Indoneisa
- Bulk Trading Sa - Switzerland
- Pendopo Energi Batubara - Indonesia
- Straits Asia Resources Limited - Singapore
- Wood Mackenzie - Singapore
- Makarim & Taira - Indonesia
- GAC Shipping (India) Pvt Ltd
- Port Waratah Coal Services - Australia
- Energy Development Corp, Philippines
- Sakthi Sugars Limited - India
- Central Java Power - Indonesia
- Electricity Authority, New Zealand
- Sical Logistics Limited - India
- Directorate Of Revenue Intelligence - India
- Marubeni Corporation - India
- Australian Coal Association
- Samtan Co., Ltd - South Korea
- Indonesian Coal Mining Association
- Ceylon Electricity Board - Sri Lanka
- Eastern Energy - Thailand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Salva Resources Pvt Ltd - India
- Bangladesh Power Developement Board
- Kartika Selabumi Mining - Indonesia
- Maheswari Brothers Coal Limited - India
- Medco Energi Mining Internasional
- PTC India Limited - India
- Altura Mining Limited, Indonesia
- The Treasury - Australian Government
- Kideco Jaya Agung - Indonesia
- Africa Commodities Group - South Africa
- Global Green Power PLC Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bukit Asam (Persero) Tbk - Indonesia
- Economic Council, Georgia
- Wilmar Investment Holdings
- Intertek Mineral Services - Indonesia
- Oldendorff Carriers - Singapore
- Neyveli Lignite Corporation Ltd, - India
- Leighton Contractors Pty Ltd - Australia
- IEA Clean Coal Centre - UK
- Mercator Lines Limited - India
- Aboitiz Power Corporation - Philippines
- CIMB Investment Bank - Malaysia
- Bhoruka Overseas - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Metalloyd Limited - United Kingdom
- Directorate General of MIneral and Coal - Indonesia
- Therma Luzon, Inc, Philippines
- India Bulls Power Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- Coastal Gujarat Power Limited - India
- McConnell Dowell - Australia
- Latin American Coal - Colombia
- Bhushan Steel Limited - India
- Formosa Plastics Group - Taiwan
- GVK Power & Infra Limited - India
- Manunggal Multi Energi - Indonesia
- Trasteel International SA, Italy
- Billiton Holdings Pty Ltd - Australia
- Madhucon Powers Ltd - India
- Thai Mozambique Logistica
- Petrochimia International Co. Ltd.- Taiwan
- The University of Queensland
- Sree Jayajothi Cements Limited - India
- Meralco Power Generation, Philippines
- Bhatia International Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Mjunction Services Limited - India
- GMR Energy Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Sinarmas Energy and Mining - Indonesia
- London Commodity Brokers - England
- SMG Consultants - Indonesia
- Vizag Seaport Private Limited - India
- Indogreen Group - Indonesia
- Merrill Lynch Commodities Europe
- Sindya Power Generating Company Private Ltd
- Heidelberg Cement - Germany
- Electricity Generating Authority of Thailand
- SMC Global Power, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Star Paper Mills Limited - India
- Indika Energy - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- International Coal Ventures Pvt Ltd - India
- Parliament of New Zealand
- GN Power Mariveles Coal Plant, Philippines
- Posco Energy - South Korea
- CNBM International Corporation - China
- Ministry of Mines - Canada
- Kapuas Tunggal Persada - Indonesia
- Semirara Mining Corp, Philippines
- Globalindo Alam Lestari - Indonesia
- Ind-Barath Power Infra Limited - India
- Global Coal Blending Company Limited - Australia
- ASAPP Information Group - India
- OPG Power Generation Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- Meenaskhi Energy Private Limited - India
- Savvy Resources Ltd - HongKong
- PowerSource Philippines DevCo
- ICICI Bank Limited - India
- Bharathi Cement Corporation - India
- SN Aboitiz Power Inc, Philippines
- Rio Tinto Coal - Australia
- PNOC Exploration Corporation - Philippines
- Deloitte Consulting - India
- Indian Energy Exchange, India
- Siam City Cement PLC, Thailand
- Banpu Public Company Limited - Thailand
- Jindal Steel & Power Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Dalmia Cement Bharat India
- Independent Power Producers Association of India
- European Bulk Services B.V. - Netherlands
- Bayan Resources Tbk. - Indonesia
- Essar Steel Hazira Ltd - India
- Iligan Light & Power Inc, Philippines
- South Luzon Thermal Energy Corporation
- Toyota Tsusho Corporation, Japan
- LBH Netherlands Bv - Netherlands
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ministry of Finance - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Petron Corporation, Philippines
- Siam City Cement - Thailand
- Larsen & Toubro Limited - India
- Anglo American - United Kingdom
- Alfred C Toepfer International GmbH - Germany
- White Energy Company Limited
- Tamil Nadu electricity Board
- Renaissance Capital - South Africa
- Bahari Cakrawala Sebuku - Indonesia
- Interocean Group of Companies - India
- Kumho Petrochemical, South Korea
- Kepco SPC Power Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- Minerals Council of Australia
- Tata Chemicals Ltd - India
- Riau Bara Harum - Indonesia
- Eastern Coal Council - USA
- Karaikal Port Pvt Ltd - India
- Carbofer General Trading SA - India
- Edison Trading Spa - Italy
- San Jose City I Power Corp, Philippines
- TeaM Sual Corporation - Philippines
- Cigading International Bulk Terminal - Indonesia
- Orica Mining Services - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Aditya Birla Group - India
- Romanian Commodities Exchange
- Ambuja Cements Ltd - India
- Ministry of Transport, Egypt
- Simpson Spence & Young - Indonesia
- Standard Chartered Bank - UAE
- Asmin Koalindo Tuhup - Indonesia
- Energy Link Ltd, New Zealand
- Gujarat Electricity Regulatory Commission - India
- IHS Mccloskey Coal Group - USA
- Sojitz Corporation - Japan
- Goldman Sachs - Singapore
- Coal and Oil Company - UAE
- Chettinad Cement Corporation Ltd - India
- Jaiprakash Power Ventures ltd
- The State Trading Corporation of India Ltd
- New Zealand Coal & Carbon
- Power Finance Corporation Ltd., India
- Gujarat Sidhee Cement - India
- Indo Tambangraya Megah - Indonesia
- Mercuria Energy - Indonesia
- Indian Oil Corporation Limited
- Grasim Industreis Ltd - India
- Chamber of Mines of South Africa
- Uttam Galva Steels Limited - India
- Baramulti Group, Indonesia
- AsiaOL BioFuels Corp., Philippines
- Bukit Makmur.PT - Indonesia
- Barasentosa Lestari - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Agrawal Coal Company - India
- Parry Sugars Refinery, India
- Thiess Contractors Indonesia
- Vedanta Resources Plc - India
- Antam Resourcindo - Indonesia
- Lanco Infratech Ltd - India
- Commonwealth Bank - Australia
- Price Waterhouse Coopers - Russia
- Jorong Barutama Greston.PT - Indonesia
- Xindia Steels Limited - India
- Cement Manufacturers Association - India
- Georgia Ports Authority, United States
- Malabar Cements Ltd - India
- Sarangani Energy Corporation, Philippines
- Videocon Industries ltd - India
- Australian Commodity Traders Exchange
- Central Electricity Authority - India
- Maharashtra Electricity Regulatory Commission - India
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