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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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Friday, 25 November 11
DISPUTE BETWEEN GIANT MINING FIRMS ENDS IN LAHAT - THE JAKARTA POST
The Jakarta Post reported that, prolonged dispute taking place in the South Sumatra regency of Lahat and involving two giant mining companies PT Buk ...
Friday, 25 November 11
DRY BULK MARKET LOSING STEAM, FAST - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
It’s been a week of falls for the dry bulk market this one, leaving ship owners with a sour taste in their mouths, as evidence of a recovery i ...
Thursday, 24 November 11
INDONESIA/INDIA SPMX TC AROUND $ 7/8K AND AROUND $ 12/13.00 PMTS ON VOYAGE BASIS - FEARNLEYS
Handy
Last week ended on a positive note in the Atlantic however the activity levels are somewhat reduced. Owners are asking in excess of USD ...
Thursday, 24 November 11
DRY BULK MARKET KEEPS LOSING STEAM - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market was lower once again on Wednesday, with the industry’s benchmark, the Baltic Dry Index (BDI) ending the session down by 1. ...
Tuesday, 22 November 11
NTPC TO BUY 2 MMT OF IMPORTED COAL FOR ITS FOUR PLANTS
COALspot.com - NTPC Limited, incorporated in 1975 as a public sector company wholly owned by Government of India, the largest thermal power generati ...
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- Parry Sugars Refinery, India
- Thai Mozambique Logistica
- South Luzon Thermal Energy Corporation
- Therma Luzon, Inc, Philippines
- ASAPP Information Group - India
- TNB Fuel Sdn Bhd - Malaysia
- Billiton Holdings Pty Ltd - Australia
- Parliament of New Zealand
- Georgia Ports Authority, United States
- GN Power Mariveles Coal Plant, Philippines
- Economic Council, Georgia
- Pendopo Energi Batubara - Indonesia
- Central Java Power - Indonesia
- Intertek Mineral Services - Indonesia
- Sree Jayajothi Cements Limited - India
- Gujarat Sidhee Cement - India
- India Bulls Power Limited - India
- Indogreen Group - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Mintek Dendrill Indonesia
- Indian Oil Corporation Limited
- Maharashtra Electricity Regulatory Commission - India
- Mjunction Services Limited - India
- Banpu Public Company Limited - Thailand
- Bukit Asam (Persero) Tbk - Indonesia
- Petron Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- SN Aboitiz Power Inc, Philippines
- IEA Clean Coal Centre - UK
- Bhushan Steel Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Bukit Makmur.PT - Indonesia
- Barasentosa Lestari - Indonesia
- CIMB Investment Bank - Malaysia
- Power Finance Corporation Ltd., India
- Tata Chemicals Ltd - India
- Latin American Coal - Colombia
- Mercator Lines Limited - India
- Singapore Mercantile Exchange
- Karaikal Port Pvt Ltd - India
- International Coal Ventures Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- Deloitte Consulting - India
- Marubeni Corporation - India
- Electricity Authority, New Zealand
- Edison Trading Spa - Italy
- Electricity Generating Authority of Thailand
- Meralco Power Generation, Philippines
- Riau Bara Harum - Indonesia
- Energy Development Corp, Philippines
- SMC Global Power, Philippines
- GMR Energy Limited - India
- Gujarat Electricity Regulatory Commission - India
- Eastern Energy - Thailand
- Formosa Plastics Group - Taiwan
- Indonesian Coal Mining Association
- Borneo Indobara - Indonesia
- Trasteel International SA, Italy
- Toyota Tsusho Corporation, Japan
- Iligan Light & Power Inc, Philippines
- Star Paper Mills Limited - India
- Wood Mackenzie - Singapore
- Lanco Infratech Ltd - India
- Medco Energi Mining Internasional
- Global Green Power PLC Corporation, Philippines
- New Zealand Coal & Carbon
- Global Coal Blending Company Limited - Australia
- Price Waterhouse Coopers - Russia
- San Jose City I Power Corp, Philippines
- Merrill Lynch Commodities Europe
- Sakthi Sugars Limited - India
- Ministry of Transport, Egypt
- Energy Link Ltd, New Zealand
- Coalindo Energy - Indonesia
- McConnell Dowell - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Eastern Coal Council - USA
- GAC Shipping (India) Pvt Ltd
- Aboitiz Power Corporation - Philippines
- Sical Logistics Limited - India
- Attock Cement Pakistan Limited
- Bhatia International Limited - India
- Kartika Selabumi Mining - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Ceylon Electricity Board - Sri Lanka
- European Bulk Services B.V. - Netherlands
- Sindya Power Generating Company Private Ltd
- Bangladesh Power Developement Board
- Ind-Barath Power Infra Limited - India
- Tamil Nadu electricity Board
- Uttam Galva Steels Limited - India
- Siam City Cement - Thailand
- Aditya Birla Group - India
- Bahari Cakrawala Sebuku - Indonesia
- LBH Netherlands Bv - Netherlands
- Interocean Group of Companies - India
- Cement Manufacturers Association - India
- Directorate Of Revenue Intelligence - India
- Africa Commodities Group - South Africa
- ICICI Bank Limited - India
- Binh Thuan Hamico - Vietnam
- Pipit Mutiara Jaya. PT, Indonesia
- Rio Tinto Coal - Australia
- Orica Mining Services - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bayan Resources Tbk. - Indonesia
- Oldendorff Carriers - Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Krishnapatnam Port Company Ltd. - India
- MS Steel International - UAE
- Sinarmas Energy and Mining - Indonesia
- CNBM International Corporation - China
- Ambuja Cements Ltd - India
- Antam Resourcindo - Indonesia
- Meenaskhi Energy Private Limited - India
- Minerals Council of Australia
- Gujarat Mineral Development Corp Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Heidelberg Cement - Germany
- Neyveli Lignite Corporation Ltd, - India
- Renaissance Capital - South Africa
- Altura Mining Limited, Indonesia
- Australian Coal Association
- Indika Energy - Indonesia
- Standard Chartered Bank - UAE
- Baramulti Group, Indonesia
- Globalindo Alam Lestari - Indonesia
- Kaltim Prima Coal - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Indian Energy Exchange, India
- Bukit Baiduri Energy - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Kobexindo Tractors - Indoneisa
- Manunggal Multi Energi - Indonesia
- Simpson Spence & Young - Indonesia
- Independent Power Producers Association of India
- Kumho Petrochemical, South Korea
- Metalloyd Limited - United Kingdom
- Makarim & Taira - Indonesia
- Leighton Contractors Pty Ltd - Australia
- PNOC Exploration Corporation - Philippines
- Salva Resources Pvt Ltd - India
- Port Waratah Coal Services - Australia
- Coal and Oil Company - UAE
- OPG Power Generation Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- TeaM Sual Corporation - Philippines
- Vedanta Resources Plc - India
- Xindia Steels Limited - India
- Savvy Resources Ltd - HongKong
- Goldman Sachs - Singapore
- Planning Commission, India
- IHS Mccloskey Coal Group - USA
- Bharathi Cement Corporation - India
- PTC India Limited - India
- Siam City Cement PLC, Thailand
- The Treasury - Australian Government
- Indo Tambangraya Megah - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- GVK Power & Infra Limited - India
- Australian Commodity Traders Exchange
- Bulk Trading Sa - Switzerland
- PowerSource Philippines DevCo
- Semirara Mining Corp, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Orica Australia Pty. Ltd.
- Ministry of Mines - Canada
- The State Trading Corporation of India Ltd
- Jorong Barutama Greston.PT - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Karbindo Abesyapradhi - Indoneisa
- Anglo American - United Kingdom
- Wilmar Investment Holdings
- Straits Asia Resources Limited - Singapore
- Carbofer General Trading SA - India
- PetroVietnam Power Coal Import and Supply Company
- Commonwealth Bank - Australia
- Malabar Cements Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Thiess Contractors Indonesia
- Kideco Jaya Agung - Indonesia
- London Commodity Brokers - England
- The University of Queensland
- Kepco SPC Power Corporation, Philippines
- Samtan Co., Ltd - South Korea
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bhoruka Overseas - Indonesia
- Essar Steel Hazira Ltd - India
- Global Business Power Corporation, Philippines
- Posco Energy - South Korea
- Sarangani Energy Corporation, Philippines
- Romanian Commodities Exchange
- Larsen & Toubro Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Sojitz Corporation - Japan
- Kohat Cement Company Ltd. - Pakistan
- Holcim Trading Pte Ltd - Singapore
- Timah Investasi Mineral - Indoneisa
- Chamber of Mines of South Africa
- Grasim Industreis Ltd - India
- Jindal Steel & Power Ltd - India
- Coastal Gujarat Power Limited - India
- Madhucon Powers Ltd - India
- Central Electricity Authority - India
- SMG Consultants - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Dalmia Cement Bharat India
- Chettinad Cement Corporation Ltd - India
- White Energy Company Limited
- Mercuria Energy - Indonesia
- Ministry of Finance - Indonesia
- Vizag Seaport Private Limited - India
- Agrawal Coal Company - India
- VISA Power Limited - India
- Videocon Industries ltd - India
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