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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, 28 November 11
CITING CONTRACTS, MINING FIRMS ARE NOT PAYING ROYALTIES UNDER LAW - THE JAKARTA POST
The Jakarta Post reported that, when the 2009 Law on Minerals and Coal was endorsed, hopes that Indonesia could maximize its revenue from the minera ...
Monday, 28 November 11
NEW ENVIRONMENTAL MARINE REGULATIONS TO IMPACT SHIPPING IN 2012 - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
August of next year will see some major changes for marine navigation. It’s when the North American ECA will come into force, introducing a 1% ...
Sunday, 27 November 11
INDIA'S KPCL TO IMPORT 50 MMT OF COAL FOR 10 YEARS
COALspot.com - Karnataka Power Corporation Limited (KPCL) will buy 5 million metric tonnes of coal annually for 10 years starting from 2015.
In a ...
Saturday, 26 November 11
INDIAN PORTS ARE BECOME COAL STOCKPILES..!!
COALspot.com - The Indian coal stocks and power tariff situation is the hot topic among the world coal producers as well as Indian coal importers.&n ...
Saturday, 26 November 11
THE FREIGHT MARKETS EXPECTED TO BE STEADY NEXT WEEK - VISTAAR
COALspot.com - The market were down probably with the sentiments of global financial markets and all segments were down.
The BDI was up down by 4 ...
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- Madhucon Powers Ltd - India
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- Electricity Authority, New Zealand
- Meralco Power Generation, Philippines
- Eastern Energy - Thailand
- TeaM Sual Corporation - Philippines
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- Truba Alam Manunggal Engineering.Tbk - Indonesia
- GMR Energy Limited - India
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- Sinarmas Energy and Mining - Indonesia
- Sindya Power Generating Company Private Ltd
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- Parliament of New Zealand
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- Bank of Tokyo Mitsubishi UFJ Ltd
- Vijayanagar Sugar Pvt Ltd - India
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- Alfred C Toepfer International GmbH - Germany
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- Vizag Seaport Private Limited - India
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- Iligan Light & Power Inc, Philippines
- Kepco SPC Power Corporation, Philippines
- Minerals Council of Australia
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- Mintek Dendrill Indonesia
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- European Bulk Services B.V. - Netherlands
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- IHS Mccloskey Coal Group - USA
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- Wood Mackenzie - Singapore
- Binh Thuan Hamico - Vietnam
- Chamber of Mines of South Africa
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- The State Trading Corporation of India Ltd
- CIMB Investment Bank - Malaysia
- Thiess Contractors Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Africa Commodities Group - South Africa
- Bahari Cakrawala Sebuku - Indonesia
- Antam Resourcindo - Indonesia
- Sojitz Corporation - Japan
- Central Electricity Authority - India
- Ministry of Finance - Indonesia
- San Jose City I Power Corp, Philippines
- Commonwealth Bank - Australia
- Medco Energi Mining Internasional
- Gujarat Sidhee Cement - India
- ICICI Bank Limited - India
- Grasim Industreis Ltd - India
- Australian Coal Association
- Aboitiz Power Corporation - Philippines
- Georgia Ports Authority, United States
- Edison Trading Spa - Italy
- SMG Consultants - Indonesia
- Aditya Birla Group - India
- Australian Commodity Traders Exchange
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Rio Tinto Coal - Australia
- Port Waratah Coal Services - Australia
- Sical Logistics Limited - India
- Carbofer General Trading SA - India
- Indo Tambangraya Megah - Indonesia
- Banpu Public Company Limited - Thailand
- Cigading International Bulk Terminal - Indonesia
- Bulk Trading Sa - Switzerland
- Agrawal Coal Company - India
- Anglo American - United Kingdom
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- Ministry of Mines - Canada
- Standard Chartered Bank - UAE
- Toyota Tsusho Corporation, Japan
- Gujarat Electricity Regulatory Commission - India
- Wilmar Investment Holdings
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- Global Coal Blending Company Limited - Australia
- MS Steel International - UAE
- Mercator Lines Limited - India
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- Vedanta Resources Plc - India
- Essar Steel Hazira Ltd - India
- Global Green Power PLC Corporation, Philippines
- White Energy Company Limited
- GAC Shipping (India) Pvt Ltd
- IEA Clean Coal Centre - UK
- Metalloyd Limited - United Kingdom
- Pendopo Energi Batubara - Indonesia
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- Simpson Spence & Young - Indonesia
- Baramulti Group, Indonesia
- Therma Luzon, Inc, Philippines
- LBH Netherlands Bv - Netherlands
- Uttam Galva Steels Limited - India
- Trasteel International SA, Italy
- Economic Council, Georgia
- The Treasury - Australian Government
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- Meenaskhi Energy Private Limited - India
- Mjunction Services Limited - India
- Kapuas Tunggal Persada - Indonesia
- Timah Investasi Mineral - Indoneisa
- Intertek Mineral Services - Indonesia
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- Coastal Gujarat Power Limited - India
- Energy Link Ltd, New Zealand
- Indian Energy Exchange, India
- Renaissance Capital - South Africa
- Samtan Co., Ltd - South Korea
- Thai Mozambique Logistica
- New Zealand Coal & Carbon
- Globalindo Alam Lestari - Indonesia
- OPG Power Generation Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bukit Makmur.PT - Indonesia
- Malabar Cements Ltd - India
- Oldendorff Carriers - Singapore
- Sree Jayajothi Cements Limited - India
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- Siam City Cement PLC, Thailand
- Rashtriya Ispat Nigam Limited - India
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- Bhushan Steel Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Goldman Sachs - Singapore
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- Ministry of Transport, Egypt
- Merrill Lynch Commodities Europe
- Global Business Power Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- Indonesian Coal Mining Association
- The University of Queensland
- Kohat Cement Company Ltd. - Pakistan
- Petrochimia International Co. Ltd.- Taiwan
- Singapore Mercantile Exchange
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- PTC India Limited - India
- Tamil Nadu electricity Board
- Petron Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Parry Sugars Refinery, India
- Kartika Selabumi Mining - Indonesia
- London Commodity Brokers - England
- Price Waterhouse Coopers - Russia
- Krishnapatnam Port Company Ltd. - India
- Videocon Industries ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Coalindo Energy - Indonesia
- Directorate General of MIneral and Coal - Indonesia
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- Orica Mining Services - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Attock Cement Pakistan Limited
- Miang Besar Coal Terminal - Indonesia
- Bhoruka Overseas - Indonesia
- Indika Energy - Indonesia
- South Luzon Thermal Energy Corporation
- Bhatia International Limited - India
- Leighton Contractors Pty Ltd - Australia
- Lanco Infratech Ltd - India
- Power Finance Corporation Ltd., India
- Kumho Petrochemical, South Korea
- Eastern Coal Council - USA
- TNB Fuel Sdn Bhd - Malaysia
- Offshore Bulk Terminal Pte Ltd, Singapore
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- Asmin Koalindo Tuhup - Indonesia
- Heidelberg Cement - Germany
- Sarangani Energy Corporation, Philippines
- Indian Oil Corporation Limited
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- Indogreen Group - Indonesia
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- PowerSource Philippines DevCo
- Manunggal Multi Energi - Indonesia
- Bangladesh Power Developement Board
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