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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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Tuesday, 22 November 11
ABM INVESTAMA SETS IPO AT RP 3,750
Insider Stories reported that, Integrated energy company PT ABM Investama Tbk has determined the IPO price at Rp3,750 (approximately US$ 0.415) per ...
Tuesday, 22 November 11
A SURPRISINGLY STRONG WEEK FOR THE CAPES - BRS
Positive gains for most of the segments this week, the exception being the Handysizes. Overall the BDI ended the week at 1,895 points (+3.3% week-on ...
Tuesday, 22 November 11
APPETITE FOR DRY BULK VESSELS SLOWS DOWN AT THE START OF THE WEEK - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market was down at the beginning of the week, as demand for Capesize vessels was particularly low. The industry’s benchmark, the ...
Monday, 21 November 11
CAPESIZES DRIVE MARKET LOWER, ANALYSTS DIVIDED ON DRY BULK OUTLOOK IN THE LONG RUN - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market ended the week on a sour note, with the industry’s benchmark heading downwards to 1,895 points, which represented a slight ...
Sunday, 20 November 11
THE FREIGHT MARKETS EXPECTED TO BE FIRM NEXT WEEK - VISTAAR
COALspot.com - The market continued to move up with all sectors gaining except for handy size.
The BDI was up by 3.26 pct and closed at 1895 poin ...
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Showing 4966 to 4970 news of total 6871 |
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- Agrawal Coal Company - India
- Port Waratah Coal Services - Australia
- Kideco Jaya Agung - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Merrill Lynch Commodities Europe
- Makarim & Taira - Indonesia
- Globalindo Alam Lestari - Indonesia
- Sojitz Corporation - Japan
- Global Business Power Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- PNOC Exploration Corporation - Philippines
- Indika Energy - Indonesia
- Mercuria Energy - Indonesia
- Coal and Oil Company - UAE
- Dalmia Cement Bharat India
- ASAPP Information Group - India
- Timah Investasi Mineral - Indoneisa
- Ceylon Electricity Board - Sri Lanka
- Straits Asia Resources Limited - Singapore
- Ministry of Finance - Indonesia
- Toyota Tsusho Corporation, Japan
- Bahari Cakrawala Sebuku - Indonesia
- Parliament of New Zealand
- Leighton Contractors Pty Ltd - Australia
- Samtan Co., Ltd - South Korea
- Bukit Makmur.PT - Indonesia
- Commonwealth Bank - Australia
- Attock Cement Pakistan Limited
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Africa Commodities Group - South Africa
- Bharathi Cement Corporation - India
- VISA Power Limited - India
- Kepco SPC Power Corporation, Philippines
- Simpson Spence & Young - Indonesia
- Planning Commission, India
- GMR Energy Limited - India
- Indonesian Coal Mining Association
- The State Trading Corporation of India Ltd
- Riau Bara Harum - Indonesia
- Parry Sugars Refinery, India
- Karaikal Port Pvt Ltd - India
- Bhushan Steel Limited - India
- AsiaOL BioFuels Corp., Philippines
- Alfred C Toepfer International GmbH - Germany
- Aditya Birla Group - India
- Meenaskhi Energy Private Limited - India
- Antam Resourcindo - Indonesia
- Central Electricity Authority - India
- Petron Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sree Jayajothi Cements Limited - India
- Holcim Trading Pte Ltd - Singapore
- Chettinad Cement Corporation Ltd - India
- Pendopo Energi Batubara - Indonesia
- Jaiprakash Power Ventures ltd
- Kalimantan Lumbung Energi - Indonesia
- European Bulk Services B.V. - Netherlands
- Medco Energi Mining Internasional
- Siam City Cement - Thailand
- Energy Link Ltd, New Zealand
- Asmin Koalindo Tuhup - Indonesia
- Carbofer General Trading SA - India
- Trasteel International SA, Italy
- New Zealand Coal & Carbon
- Goldman Sachs - Singapore
- Lanco Infratech Ltd - India
- SMC Global Power, Philippines
- GVK Power & Infra Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Larsen & Toubro Limited - India
- Ministry of Transport, Egypt
- Sical Logistics Limited - India
- Manunggal Multi Energi - Indonesia
- Metalloyd Limited - United Kingdom
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Semirara Mining Corp, Philippines
- Tamil Nadu electricity Board
- Banpu Public Company Limited - Thailand
- GN Power Mariveles Coal Plant, Philippines
- Indian Oil Corporation Limited
- Electricity Generating Authority of Thailand
- Jorong Barutama Greston.PT - Indonesia
- India Bulls Power Limited - India
- PTC India Limited - India
- PetroVietnam Power Coal Import and Supply Company
- OPG Power Generation Pvt Ltd - India
- Baramulti Group, Indonesia
- CNBM International Corporation - China
- SN Aboitiz Power Inc, Philippines
- Edison Trading Spa - Italy
- Bulk Trading Sa - Switzerland
- Indo Tambangraya Megah - Indonesia
- Siam City Cement PLC, Thailand
- Global Green Power PLC Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- SMG Consultants - Indonesia
- Maheswari Brothers Coal Limited - India
- Power Finance Corporation Ltd., India
- Eastern Energy - Thailand
- Interocean Group of Companies - India
- Ministry of Mines - Canada
- PowerSource Philippines DevCo
- Essar Steel Hazira Ltd - India
- Therma Luzon, Inc, Philippines
- Jindal Steel & Power Ltd - India
- Deloitte Consulting - India
- Anglo American - United Kingdom
- Rashtriya Ispat Nigam Limited - India
- Marubeni Corporation - India
- Semirara Mining and Power Corporation, Philippines
- Vedanta Resources Plc - India
- Electricity Authority, New Zealand
- MS Steel International - UAE
- Ind-Barath Power Infra Limited - India
- Renaissance Capital - South Africa
- Bangladesh Power Developement Board
- The University of Queensland
- Madhucon Powers Ltd - India
- Borneo Indobara - Indonesia
- TeaM Sual Corporation - Philippines
- Iligan Light & Power Inc, Philippines
- Wood Mackenzie - Singapore
- Bhatia International Limited - India
- Kapuas Tunggal Persada - Indonesia
- Singapore Mercantile Exchange
- Indian Energy Exchange, India
- Coastal Gujarat Power Limited - India
- Orica Mining Services - Indonesia
- Energy Development Corp, Philippines
- Kobexindo Tractors - Indoneisa
- Star Paper Mills Limited - India
- Australian Commodity Traders Exchange
- GAC Shipping (India) Pvt Ltd
- Kaltim Prima Coal - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Ambuja Cements Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Bukit Baiduri Energy - Indonesia
- Global Coal Blending Company Limited - Australia
- Coalindo Energy - Indonesia
- Eastern Coal Council - USA
- Malabar Cements Ltd - India
- Vizag Seaport Private Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Intertek Mineral Services - Indonesia
- The Treasury - Australian Government
- Offshore Bulk Terminal Pte Ltd, Singapore
- Australian Coal Association
- Tata Chemicals Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kohat Cement Company Ltd. - Pakistan
- ICICI Bank Limited - India
- Salva Resources Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- Standard Chartered Bank - UAE
- Vijayanagar Sugar Pvt Ltd - India
- Indogreen Group - Indonesia
- San Jose City I Power Corp, Philippines
- Mercator Lines Limited - India
- Altura Mining Limited, Indonesia
- Thai Mozambique Logistica
- Romanian Commodities Exchange
- Heidelberg Cement - Germany
- IHS Mccloskey Coal Group - USA
- Directorate Of Revenue Intelligence - India
- Kumho Petrochemical, South Korea
- Independent Power Producers Association of India
- Bhoruka Overseas - Indonesia
- Minerals Council of Australia
- Oldendorff Carriers - Singapore
- Cement Manufacturers Association - India
- Orica Australia Pty. Ltd.
- LBH Netherlands Bv - Netherlands
- Mjunction Services Limited - India
- IEA Clean Coal Centre - UK
- Kartika Selabumi Mining - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Central Java Power - Indonesia
- Sindya Power Generating Company Private Ltd
- Krishnapatnam Port Company Ltd. - India
- Economic Council, Georgia
- Karbindo Abesyapradhi - Indoneisa
- Meralco Power Generation, Philippines
- Barasentosa Lestari - Indonesia
- McConnell Dowell - Australia
- South Luzon Thermal Energy Corporation
- Wilmar Investment Holdings
- Sakthi Sugars Limited - India
- Price Waterhouse Coopers - Russia
- Thiess Contractors Indonesia
- Xindia Steels Limited - India
- White Energy Company Limited
- Latin American Coal - Colombia
- Maharashtra Electricity Regulatory Commission - India
- Savvy Resources Ltd - HongKong
- Posco Energy - South Korea
- Cigading International Bulk Terminal - Indonesia
- Uttam Galva Steels Limited - India
- Formosa Plastics Group - Taiwan
- London Commodity Brokers - England
- International Coal Ventures Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- Videocon Industries ltd - India
- Gujarat Sidhee Cement - India
- Binh Thuan Hamico - Vietnam
- Pipit Mutiara Jaya. PT, Indonesia
- Miang Besar Coal Terminal - Indonesia
- Mintek Dendrill Indonesia
- CIMB Investment Bank - Malaysia
- Rio Tinto Coal - Australia
- Gujarat Electricity Regulatory Commission - India
- Gujarat Mineral Development Corp Ltd - India
- Georgia Ports Authority, United States
- Grasim Industreis Ltd - India
- Chamber of Mines of South Africa
- Bukit Asam (Persero) Tbk - Indonesia
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