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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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Wednesday, 16 November 11
A STRONG WEEK FOR THE CAPES - BRS
A sharp bounce by the Cape market pushed the BDI up by 3% last week. This was despite a softening in the other indices with the Panamax, Supramax an ...
Monday, 14 November 11
BORL SEEKS 660K MT OF LOW SULPHUR COAL
COALspot.com - BORL India has issued a tender for around 660,000 MT of 4500 - 5500 kcal/kg sub-bituminous Coal.
Bharat Oman Refineries Ltd ...
Sunday, 13 November 11
BUNKER PRICES REMAINED FIRM
COALspot.com - The market seemed to recover this week with the BDI and Cape Index up.
The BDI was up by only about 2.86 pct closing at 1835 point ...
Saturday, 12 November 11
COALINDO ENERGY LAUNCHED INDEX FOR 3400 GAR COAL
COALspot.com - PT Coalindo Energy, in cooperation with Argus Media Limited, launched the coal index for low-rank coal with a calorific value of 3,40 ...
Saturday, 12 November 11
BBJ WILL RELEASE A COAL CONTRACT
Jakarta Futures Exchange will soon release a coal futures contracts during the quarter 1 / 2012.
Director of the Jakarta Futures Exchange (BBJ) S ...
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- Kumho Petrochemical, South Korea
- Chamber of Mines of South Africa
- Gujarat Mineral Development Corp Ltd - India
- Ind-Barath Power Infra Limited - India
- SMC Global Power, Philippines
- Kapuas Tunggal Persada - Indonesia
- Cement Manufacturers Association - India
- Energy Development Corp, Philippines
- Gujarat Electricity Regulatory Commission - India
- Mercator Lines Limited - India
- Indonesian Coal Mining Association
- Directorate General of MIneral and Coal - Indonesia
- Sakthi Sugars Limited - India
- Sindya Power Generating Company Private Ltd
- Barasentosa Lestari - Indonesia
- GMR Energy Limited - India
- Singapore Mercantile Exchange
- Coalindo Energy - Indonesia
- Latin American Coal - Colombia
- Kohat Cement Company Ltd. - Pakistan
- Tata Chemicals Ltd - India
- White Energy Company Limited
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Central Electricity Authority - India
- The University of Queensland
- Kobexindo Tractors - Indoneisa
- Romanian Commodities Exchange
- Thiess Contractors Indonesia
- Orica Mining Services - Indonesia
- CNBM International Corporation - China
- Eastern Energy - Thailand
- Altura Mining Limited, Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Tamil Nadu electricity Board
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- Uttam Galva Steels Limited - India
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- Rio Tinto Coal - Australia
- Bhatia International Limited - India
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- Trasteel International SA, Italy
- Vedanta Resources Plc - India
- Port Waratah Coal Services - Australia
- Siam City Cement - Thailand
- IEA Clean Coal Centre - UK
- India Bulls Power Limited - India
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- Holcim Trading Pte Ltd - Singapore
- Heidelberg Cement - Germany
- Formosa Plastics Group - Taiwan
- Marubeni Corporation - India
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- Kalimantan Lumbung Energi - Indonesia
- PNOC Exploration Corporation - Philippines
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- Mintek Dendrill Indonesia
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- Offshore Bulk Terminal Pte Ltd, Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- Georgia Ports Authority, United States
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- MS Steel International - UAE
- Bukit Makmur.PT - Indonesia
- Bhoruka Overseas - Indonesia
- Aboitiz Power Corporation - Philippines
- Price Waterhouse Coopers - Russia
- Asmin Koalindo Tuhup - Indonesia
- Xindia Steels Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Australian Commodity Traders Exchange
- Jorong Barutama Greston.PT - Indonesia
- McConnell Dowell - Australia
- IHS Mccloskey Coal Group - USA
- Bukit Asam (Persero) Tbk - Indonesia
- Deloitte Consulting - India
- Kideco Jaya Agung - Indonesia
- Ambuja Cements Ltd - India
- Malabar Cements Ltd - India
- The State Trading Corporation of India Ltd
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Mjunction Services Limited - India
- Kaltim Prima Coal - Indonesia
- Renaissance Capital - South Africa
- Bayan Resources Tbk. - Indonesia
- Lanco Infratech Ltd - India
- CIMB Investment Bank - Malaysia
- Central Java Power - Indonesia
- Agrawal Coal Company - India
- Banpu Public Company Limited - Thailand
- Cigading International Bulk Terminal - Indonesia
- New Zealand Coal & Carbon
- Larsen & Toubro Limited - India
- Semirara Mining Corp, Philippines
- Sarangani Energy Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Toyota Tsusho Corporation, Japan
- Metalloyd Limited - United Kingdom
- Orica Australia Pty. Ltd.
- Attock Cement Pakistan Limited
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- SMG Consultants - Indonesia
- Therma Luzon, Inc, Philippines
- Standard Chartered Bank - UAE
- Semirara Mining and Power Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Leighton Contractors Pty Ltd - Australia
- Bulk Trading Sa - Switzerland
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- AsiaOL BioFuels Corp., Philippines
- Savvy Resources Ltd - HongKong
- Planning Commission, India
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- GVK Power & Infra Limited - India
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- Madhucon Powers Ltd - India
- Samtan Co., Ltd - South Korea
- Parry Sugars Refinery, India
- Antam Resourcindo - Indonesia
- Australian Coal Association
- Pendopo Energi Batubara - Indonesia
- London Commodity Brokers - England
- Bharathi Cement Corporation - India
- PetroVietnam Power Coal Import and Supply Company
- Medco Energi Mining Internasional
- Oldendorff Carriers - Singapore
- Intertek Mineral Services - Indonesia
- Sojitz Corporation - Japan
- TNB Fuel Sdn Bhd - Malaysia
- Global Coal Blending Company Limited - Australia
- Salva Resources Pvt Ltd - India
- Interocean Group of Companies - India
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- Aditya Birla Group - India
- Alfred C Toepfer International GmbH - Germany
- Billiton Holdings Pty Ltd - Australia
- Star Paper Mills Limited - India
- Eastern Coal Council - USA
- Binh Thuan Hamico - Vietnam
- Ministry of Finance - Indonesia
- Commonwealth Bank - Australia
- Bukit Baiduri Energy - Indonesia
- Mercuria Energy - Indonesia
- San Jose City I Power Corp, Philippines
- Economic Council, Georgia
- Sical Logistics Limited - India
- Anglo American - United Kingdom
- GN Power Mariveles Coal Plant, Philippines
- Electricity Generating Authority of Thailand
- Grasim Industreis Ltd - India
- Straits Asia Resources Limited - Singapore
- International Coal Ventures Pvt Ltd - India
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- Global Business Power Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- GAC Shipping (India) Pvt Ltd
- Meralco Power Generation, Philippines
- VISA Power Limited - India
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- Rashtriya Ispat Nigam Limited - India
- Thai Mozambique Logistica
- Krishnapatnam Port Company Ltd. - India
- Directorate Of Revenue Intelligence - India
- PowerSource Philippines DevCo
- Sree Jayajothi Cements Limited - India
- Timah Investasi Mineral - Indoneisa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Power Finance Corporation Ltd., India
- OPG Power Generation Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- Ministry of Mines - Canada
- Makarim & Taira - Indonesia
- Essar Steel Hazira Ltd - India
- Africa Commodities Group - South Africa
- Ceylon Electricity Board - Sri Lanka
- Dalmia Cement Bharat India
- Bangladesh Power Developement Board
- Chettinad Cement Corporation Ltd - India
- Electricity Authority, New Zealand
- Siam City Cement PLC, Thailand
- Goldman Sachs - Singapore
- Wood Mackenzie - Singapore
- Minerals Council of Australia
- Coal and Oil Company - UAE
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Posco Energy - South Korea
- ICICI Bank Limited - India
- Gujarat Sidhee Cement - India
- Indika Energy - Indonesia
- Wilmar Investment Holdings
- Baramulti Group, Indonesia
- The Treasury - Australian Government
- Simpson Spence & Young - Indonesia
- South Luzon Thermal Energy Corporation
- Bhushan Steel Limited - India
- LBH Netherlands Bv - Netherlands
- Iligan Light & Power Inc, Philippines
- Global Green Power PLC Corporation, Philippines
- Indian Energy Exchange, India
- PTC India Limited - India
- Energy Link Ltd, New Zealand
- Maheswari Brothers Coal Limited - India
- SN Aboitiz Power Inc, Philippines
- Indian Oil Corporation Limited
- Parliament of New Zealand
- ASAPP Information Group - India
- Manunggal Multi Energi - Indonesia
- Edison Trading Spa - Italy
- Karbindo Abesyapradhi - Indoneisa
- Borneo Indobara - Indonesia
- Independent Power Producers Association of India
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