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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, 18 November 11
MMTC SEEKS 1.365 MMT OF IMPORTED COAL
COALspot.com - India's MMTC, the largest trading company of India and a major trading company of Asia, has issued a term supply tender for 1.365Mt ...
Friday, 18 November 11
KPC, ARUTMIN OUTPUT REACHED 47.1 MIO TONS - INSIDER STORIES
PT Kaltim Prima Coal (KPC) and PT Arutmin Indonesia, reported 47.1 million tons of coal production in 9M 2011, according to Indiser Stories.
Insi ...
Friday, 18 November 11
THE ATLANTIC SUPRAMAX MARKET EXPERIENCED A STEADY AND FIRM TENDENCY
Handy
The Atlantic Supramax market experienced a steady and firm tendency this week. Especially the North Atlantic and Mediterranean position ...
Friday, 18 November 11
BERAU COAL 9M PROFIT SOARS 194.46% - INSIDER STORIES
Insider Stories reported that, PT Berau Coal Energy Tbk (BRAU), which is 84.7% owned by Bumi Plc, reported a 194.46% jump in net profit by end of Se ...
Thursday, 17 November 11
DRY BULK MARKET INCHES FORWARD AND INTO HIGHER GROUND - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market edged higher yesterday, on the back of stronger demand for Capesize vessels and general improvement of sentiment on most of the ...
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- Parry Sugars Refinery, India
- Wilmar Investment Holdings
- LBH Netherlands Bv - Netherlands
- Indogreen Group - Indonesia
- Coastal Gujarat Power Limited - India
- Bayan Resources Tbk. - Indonesia
- Goldman Sachs - Singapore
- SMC Global Power, Philippines
- New Zealand Coal & Carbon
- Riau Bara Harum - Indonesia
- Kapuas Tunggal Persada - Indonesia
- The State Trading Corporation of India Ltd
- Bank of Tokyo Mitsubishi UFJ Ltd
- McConnell Dowell - Australia
- Chamber of Mines of South Africa
- Petrochimia International Co. Ltd.- Taiwan
- Parliament of New Zealand
- Posco Energy - South Korea
- Therma Luzon, Inc, Philippines
- Indian Energy Exchange, India
- Leighton Contractors Pty Ltd - Australia
- Samtan Co., Ltd - South Korea
- Global Coal Blending Company Limited - Australia
- Latin American Coal - Colombia
- SMG Consultants - Indonesia
- White Energy Company Limited
- Interocean Group of Companies - India
- GN Power Mariveles Coal Plant, Philippines
- Attock Cement Pakistan Limited
- Chettinad Cement Corporation Ltd - India
- Standard Chartered Bank - UAE
- Jindal Steel & Power Ltd - India
- Lanco Infratech Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Bulk Trading Sa - Switzerland
- Bhoruka Overseas - Indonesia
- Metalloyd Limited - United Kingdom
- Malabar Cements Ltd - India
- The University of Queensland
- Offshore Bulk Terminal Pte Ltd, Singapore
- Binh Thuan Hamico - Vietnam
- Alfred C Toepfer International GmbH - Germany
- IHS Mccloskey Coal Group - USA
- Agrawal Coal Company - India
- Africa Commodities Group - South Africa
- Medco Energi Mining Internasional
- Energy Link Ltd, New Zealand
- Energy Development Corp, Philippines
- Karbindo Abesyapradhi - Indoneisa
- MS Steel International - UAE
- Maheswari Brothers Coal Limited - India
- Mintek Dendrill Indonesia
- Coalindo Energy - Indonesia
- Kaltim Prima Coal - Indonesia
- Madhucon Powers Ltd - India
- Toyota Tsusho Corporation, Japan
- Rio Tinto Coal - Australia
- Ministry of Finance - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Sree Jayajothi Cements Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Uttam Galva Steels Limited - India
- Larsen & Toubro Limited - India
- Renaissance Capital - South Africa
- Meralco Power Generation, Philippines
- GAC Shipping (India) Pvt Ltd
- Directorate General of MIneral and Coal - Indonesia
- PowerSource Philippines DevCo
- Oldendorff Carriers - Singapore
- Anglo American - United Kingdom
- Cigading International Bulk Terminal - Indonesia
- Ministry of Mines - Canada
- Grasim Industreis Ltd - India
- Baramulti Group, Indonesia
- Price Waterhouse Coopers - Russia
- Essar Steel Hazira Ltd - India
- CIMB Investment Bank - Malaysia
- Miang Besar Coal Terminal - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Bhatia International Limited - India
- Mjunction Services Limited - India
- Makarim & Taira - Indonesia
- Directorate Of Revenue Intelligence - India
- Global Business Power Corporation, Philippines
- Ambuja Cements Ltd - India
- Marubeni Corporation - India
- Merrill Lynch Commodities Europe
- Heidelberg Cement - Germany
- Central Electricity Authority - India
- Semirara Mining Corp, Philippines
- GVK Power & Infra Limited - India
- Globalindo Alam Lestari - Indonesia
- Kideco Jaya Agung - Indonesia
- Sakthi Sugars Limited - India
- Jaiprakash Power Ventures ltd
- International Coal Ventures Pvt Ltd - India
- Siam City Cement PLC, Thailand
- Thai Mozambique Logistica
- Ceylon Electricity Board - Sri Lanka
- Mercator Lines Limited - India
- Intertek Mineral Services - Indonesia
- Orica Mining Services - Indonesia
- Electricity Generating Authority of Thailand
- Eastern Coal Council - USA
- Bahari Cakrawala Sebuku - Indonesia
- Sarangani Energy Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- Tamil Nadu electricity Board
- Karaikal Port Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Petron Corporation, Philippines
- Kumho Petrochemical, South Korea
- San Jose City I Power Corp, Philippines
- Ind-Barath Power Infra Limited - India
- Bangladesh Power Developement Board
- ASAPP Information Group - India
- Aboitiz Power Corporation - Philippines
- Neyveli Lignite Corporation Ltd, - India
- Savvy Resources Ltd - HongKong
- IEA Clean Coal Centre - UK
- Mercuria Energy - Indonesia
- Videocon Industries ltd - India
- Barasentosa Lestari - Indonesia
- European Bulk Services B.V. - Netherlands
- Thiess Contractors Indonesia
- Power Finance Corporation Ltd., India
- Australian Commodity Traders Exchange
- Independent Power Producers Association of India
- Indian Oil Corporation Limited
- Minerals Council of Australia
- Bukit Makmur.PT - Indonesia
- Banpu Public Company Limited - Thailand
- London Commodity Brokers - England
- OPG Power Generation Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Antam Resourcindo - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Borneo Indobara - Indonesia
- Bukit Baiduri Energy - Indonesia
- Economic Council, Georgia
- Indonesian Coal Mining Association
- Timah Investasi Mineral - Indoneisa
- Bukit Asam (Persero) Tbk - Indonesia
- Star Paper Mills Limited - India
- Romanian Commodities Exchange
- Vijayanagar Sugar Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- VISA Power Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Vedanta Resources Plc - India
- Kohat Cement Company Ltd. - Pakistan
- Edison Trading Spa - Italy
- Sojitz Corporation - Japan
- Sindya Power Generating Company Private Ltd
- Pipit Mutiara Jaya. PT, Indonesia
- Iligan Light & Power Inc, Philippines
- Kartika Selabumi Mining - Indonesia
- Tata Chemicals Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kalimantan Lumbung Energi - Indonesia
- SN Aboitiz Power Inc, Philippines
- Vizag Seaport Private Limited - India
- Coal and Oil Company - UAE
- Formosa Plastics Group - Taiwan
- Electricity Authority, New Zealand
- Altura Mining Limited, Indonesia
- ICICI Bank Limited - India
- Holcim Trading Pte Ltd - Singapore
- Gujarat Mineral Development Corp Ltd - India
- Ministry of Transport, Egypt
- Bhushan Steel Limited - India
- Singapore Mercantile Exchange
- Rashtriya Ispat Nigam Limited - India
- Eastern Energy - Thailand
- Central Java Power - Indonesia
- CNBM International Corporation - China
- Gujarat Sidhee Cement - India
- GMR Energy Limited - India
- Georgia Ports Authority, United States
- Sinarmas Energy and Mining - Indonesia
- Indika Energy - Indonesia
- PTC India Limited - India
- Gujarat Electricity Regulatory Commission - India
- South Luzon Thermal Energy Corporation
- PNOC Exploration Corporation - Philippines
- Straits Asia Resources Limited - Singapore
- The Treasury - Australian Government
- AsiaOL BioFuels Corp., Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Salva Resources Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- Deloitte Consulting - India
- Bharathi Cement Corporation - India
- TeaM Sual Corporation - Philippines
- Xindia Steels Limited - India
- Siam City Cement - Thailand
- Australian Coal Association
- Kepco SPC Power Corporation, Philippines
- Orica Australia Pty. Ltd.
- Wood Mackenzie - Singapore
- Sical Logistics Limited - India
- Commonwealth Bank - Australia
- Cement Manufacturers Association - India
- Aditya Birla Group - India
- Meenaskhi Energy Private Limited - India
- India Bulls Power Limited - India
- Dalmia Cement Bharat India
- Trasteel International SA, Italy
- Kobexindo Tractors - Indoneisa
- Carbofer General Trading SA - India
- Port Waratah Coal Services - Australia
- Simpson Spence & Young - Indonesia
- Planning Commission, India
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