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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, 01 December 11
DRY BULK MARKET RISES TO NEW HEIGHTS ON RENEWED DEMAND - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has kept on rising this week, with the industry’s benchmark, the Baltic Dry Index (BDI) climbing to 1,846 points on Wednes ...
Tuesday, 29 November 11
SOUTH AFRICAN COAL INTO CHINA, THE ACTIVITY WAS SLOW - BRS
Capesize
The Capesize market in Atlantic stayed pretty firm last week with transatlantic rounds being fixed in the high twenties. Sentiment was les ...
Tuesday, 29 November 11
GOLDEN GATE BRIDGE OF INDONESIA COLLAPSED AT KUKAR, EAST KALIMANTAN
COALspot.com - A suspension bridge in Indonesia’s east Kalimantan province over the Mahakam river collapsed on Saturday, killing at least elev ...
Tuesday, 29 November 11
BUKIT ASAM SCOUTS RP3 TRILLION PROFIT - INSIDER STORIES
The state-controlled coal miner PT Bukit Asam Tbk (PTBA) expects to post a Rp3 trillion net income this year, reaching its target which is 50% above ...
Tuesday, 29 November 11
DRY BULK MARKET BEGINS WEEK ON HIGHER NOTE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Contrary to what had been the case during the past few weeks, this one began on a high note for the dry bulk market, with the Capesize sector pullin ...
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- Intertek Mineral Services - Indonesia
- Kaltim Prima Coal - Indonesia
- Rio Tinto Coal - Australia
- Formosa Plastics Group - Taiwan
- Bayan Resources Tbk. - Indonesia
- Bharathi Cement Corporation - India
- Tata Chemicals Ltd - India
- Mercator Lines Limited - India
- Global Business Power Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- OPG Power Generation Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- Bukit Baiduri Energy - Indonesia
- The State Trading Corporation of India Ltd
- Chamber of Mines of South Africa
- CNBM International Corporation - China
- New Zealand Coal & Carbon
- Power Finance Corporation Ltd., India
- Australian Commodity Traders Exchange
- Straits Asia Resources Limited - Singapore
- Kohat Cement Company Ltd. - Pakistan
- Manunggal Multi Energi - Indonesia
- Pendopo Energi Batubara - Indonesia
- Electricity Authority, New Zealand
- Xindia Steels Limited - India
- Sree Jayajothi Cements Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- Electricity Generating Authority of Thailand
- Sojitz Corporation - Japan
- Standard Chartered Bank - UAE
- Bulk Trading Sa - Switzerland
- Videocon Industries ltd - India
- IEA Clean Coal Centre - UK
- TeaM Sual Corporation - Philippines
- Baramulti Group, Indonesia
- VISA Power Limited - India
- Mjunction Services Limited - India
- Orica Mining Services - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Samtan Co., Ltd - South Korea
- LBH Netherlands Bv - Netherlands
- Indian Energy Exchange, India
- Jorong Barutama Greston.PT - Indonesia
- SN Aboitiz Power Inc, Philippines
- Rashtriya Ispat Nigam Limited - India
- Binh Thuan Hamico - Vietnam
- Barasentosa Lestari - Indonesia
- India Bulls Power Limited - India
- PTC India Limited - India
- Bukit Makmur.PT - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Kepco SPC Power Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Tamil Nadu electricity Board
- Indo Tambangraya Megah - Indonesia
- Latin American Coal - Colombia
- Malabar Cements Ltd - India
- Essar Steel Hazira Ltd - India
- Independent Power Producers Association of India
- Siam City Cement - Thailand
- Singapore Mercantile Exchange
- Port Waratah Coal Services - Australia
- GAC Shipping (India) Pvt Ltd
- Mercuria Energy - Indonesia
- Sarangani Energy Corporation, Philippines
- Bhoruka Overseas - Indonesia
- Star Paper Mills Limited - India
- Semirara Mining and Power Corporation, Philippines
- Australian Coal Association
- Lanco Infratech Ltd - India
- European Bulk Services B.V. - Netherlands
- Meralco Power Generation, Philippines
- Anglo American - United Kingdom
- Agrawal Coal Company - India
- Siam City Cement PLC, Thailand
- Banpu Public Company Limited - Thailand
- Energy Link Ltd, New Zealand
- Vizag Seaport Private Limited - India
- Economic Council, Georgia
- ICICI Bank Limited - India
- Gujarat Electricity Regulatory Commission - India
- Alfred C Toepfer International GmbH - Germany
- Sinarmas Energy and Mining - Indonesia
- Borneo Indobara - Indonesia
- Edison Trading Spa - Italy
- Parry Sugars Refinery, India
- South Luzon Thermal Energy Corporation
- Uttam Galva Steels Limited - India
- CIMB Investment Bank - Malaysia
- Maharashtra Electricity Regulatory Commission - India
- Merrill Lynch Commodities Europe
- Kideco Jaya Agung - Indonesia
- The Treasury - Australian Government
- Ministry of Transport, Egypt
- Leighton Contractors Pty Ltd - Australia
- Karaikal Port Pvt Ltd - India
- Interocean Group of Companies - India
- Ministry of Finance - Indonesia
- GVK Power & Infra Limited - India
- Georgia Ports Authority, United States
- Deloitte Consulting - India
- PowerSource Philippines DevCo
- Aboitiz Power Corporation - Philippines
- Oldendorff Carriers - Singapore
- Kapuas Tunggal Persada - Indonesia
- Energy Development Corp, Philippines
- Directorate Of Revenue Intelligence - India
- Simpson Spence & Young - Indonesia
- McConnell Dowell - Australia
- Holcim Trading Pte Ltd - Singapore
- MS Steel International - UAE
- Bahari Cakrawala Sebuku - Indonesia
- Thai Mozambique Logistica
- Metalloyd Limited - United Kingdom
- Directorate General of MIneral and Coal - Indonesia
- SMG Consultants - Indonesia
- Iligan Light & Power Inc, Philippines
- Coalindo Energy - Indonesia
- Cigading International Bulk Terminal - Indonesia
- PNOC Exploration Corporation - Philippines
- Sakthi Sugars Limited - India
- Madhucon Powers Ltd - India
- Savvy Resources Ltd - HongKong
- PetroVietnam Power Coal Import and Supply Company
- Kumho Petrochemical, South Korea
- San Jose City I Power Corp, Philippines
- Marubeni Corporation - India
- Indika Energy - Indonesia
- Global Coal Blending Company Limited - Australia
- Ministry of Mines - Canada
- Indogreen Group - Indonesia
- Dalmia Cement Bharat India
- Trasteel International SA, Italy
- Antam Resourcindo - Indonesia
- Attock Cement Pakistan Limited
- Indonesian Coal Mining Association
- Ind-Barath Power Infra Limited - India
- Kartika Selabumi Mining - Indonesia
- The University of Queensland
- Carbofer General Trading SA - India
- IHS Mccloskey Coal Group - USA
- Therma Luzon, Inc, Philippines
- Central Electricity Authority - India
- Sical Logistics Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Orica Australia Pty. Ltd.
- Bangladesh Power Developement Board
- Minerals Council of Australia
- Global Green Power PLC Corporation, Philippines
- London Commodity Brokers - England
- TNB Fuel Sdn Bhd - Malaysia
- Jaiprakash Power Ventures ltd
- Salva Resources Pvt Ltd - India
- Gujarat Sidhee Cement - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Cement Manufacturers Association - India
- GMR Energy Limited - India
- Jindal Steel & Power Ltd - India
- Eastern Energy - Thailand
- Petrochimia International Co. Ltd.- Taiwan
- Wilmar Investment Holdings
- Toyota Tsusho Corporation, Japan
- Wood Mackenzie - Singapore
- Aditya Birla Group - India
- Neyveli Lignite Corporation Ltd, - India
- Ceylon Electricity Board - Sri Lanka
- Krishnapatnam Port Company Ltd. - India
- Meenaskhi Energy Private Limited - India
- Chettinad Cement Corporation Ltd - India
- Eastern Coal Council - USA
- Makarim & Taira - Indonesia
- Semirara Mining Corp, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Renaissance Capital - South Africa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Thiess Contractors Indonesia
- Billiton Holdings Pty Ltd - Australia
- Karbindo Abesyapradhi - Indoneisa
- Kobexindo Tractors - Indoneisa
- Globalindo Alam Lestari - Indonesia
- Timah Investasi Mineral - Indoneisa
- Price Waterhouse Coopers - Russia
- Larsen & Toubro Limited - India
- International Coal Ventures Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Indian Oil Corporation Limited
- Parliament of New Zealand
- Altura Mining Limited, Indonesia
- Planning Commission, India
- Bhatia International Limited - India
- Maheswari Brothers Coal Limited - India
- Riau Bara Harum - Indonesia
- Vedanta Resources Plc - India
- Vijayanagar Sugar Pvt Ltd - India
- SMC Global Power, Philippines
- Commonwealth Bank - Australia
- Gujarat Mineral Development Corp Ltd - India
- Bhushan Steel Limited - India
- ASAPP Information Group - India
- Mintek Dendrill Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Heidelberg Cement - Germany
- Goldman Sachs - Singapore
- Central Java Power - Indonesia
- Africa Commodities Group - South Africa
- Romanian Commodities Exchange
- GN Power Mariveles Coal Plant, Philippines
- Coal and Oil Company - UAE
- Grasim Industreis Ltd - India
- Posco Energy - South Korea
- Petron Corporation, Philippines
- Medco Energi Mining Internasional
- Ambuja Cements Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- White Energy Company Limited
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