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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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Saturday, 12 November 11
DRY BULK MARKET REGAINS SOME OF THE LOST GROUND - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market managed to edge forward yesterday, putting an end and halting the losses accumulated over the course of the past weeks, which ha ...
Friday, 11 November 11
PETROCOM ENERGY PLANS $40M TO BUILD COAL PLANT IN CILEGON - JP
The Jakarta Post reported that, Hong Kong-based Petrocom Energy Ltd has unveiled plans to invest up to US$40 million on a proposed coal-blending fac ...
Friday, 11 November 11
GOVT WAITS LEGAL DECISION ON BUKIT ASAM, ADARO DISPUTE - JP
The Jakarta Post reported that, The government says that it will not interfere in the settlement process of the dispute between state coal miner PT ...
Thursday, 10 November 11
INDONESIAN REFERENCE COAL PRICE FELL AGAIN
COALspot.com - Ministry of Energy and Mineral Resources of Indonesia has set the November 2011 Indonesian Coal Reference Price for thermal coal at U ...
Tuesday, 08 November 11
COAL MINER ABM INVESTAMA PLANS $290M PUBLIC OFFERING - JG
The Jakarta Globe reported that, ABM Investama, an Indonesian coal miner controlled by the Hamami family, plans to raise as much as Rp 2.6 trillion ...
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- Renaissance Capital - South Africa
- Gujarat Mineral Development Corp Ltd - India
- LBH Netherlands Bv - Netherlands
- Gujarat Electricity Regulatory Commission - India
- VISA Power Limited - India
- Chettinad Cement Corporation Ltd - India
- Coastal Gujarat Power Limited - India
- Eastern Energy - Thailand
- Bhatia International Limited - India
- AsiaOL BioFuels Corp., Philippines
- Electricity Authority, New Zealand
- Indogreen Group - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Jindal Steel & Power Ltd - India
- Ministry of Mines - Canada
- Posco Energy - South Korea
- Makarim & Taira - Indonesia
- Central Java Power - Indonesia
- Latin American Coal - Colombia
- ICICI Bank Limited - India
- Asmin Koalindo Tuhup - Indonesia
- SN Aboitiz Power Inc, Philippines
- Alfred C Toepfer International GmbH - Germany
- Pipit Mutiara Jaya. PT, Indonesia
- Indian Oil Corporation Limited
- Vijayanagar Sugar Pvt Ltd - India
- McConnell Dowell - Australia
- Wilmar Investment Holdings
- Semirara Mining Corp, Philippines
- Indonesian Coal Mining Association
- Riau Bara Harum - Indonesia
- Kaltim Prima Coal - Indonesia
- Sindya Power Generating Company Private Ltd
- The State Trading Corporation of India Ltd
- Vedanta Resources Plc - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bahari Cakrawala Sebuku - Indonesia
- Ministry of Transport, Egypt
- Mintek Dendrill Indonesia
- Australian Coal Association
- Maheswari Brothers Coal Limited - India
- Samtan Co., Ltd - South Korea
- Bhushan Steel Limited - India
- Salva Resources Pvt Ltd - India
- Bangladesh Power Developement Board
- Kartika Selabumi Mining - Indonesia
- IEA Clean Coal Centre - UK
- Pendopo Energi Batubara - Indonesia
- Eastern Coal Council - USA
- Indian Energy Exchange, India
- Singapore Mercantile Exchange
- San Jose City I Power Corp, Philippines
- Commonwealth Bank - Australia
- Star Paper Mills Limited - India
- Tamil Nadu electricity Board
- Bukit Asam (Persero) Tbk - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Chamber of Mines of South Africa
- Parry Sugars Refinery, India
- The Treasury - Australian Government
- Directorate Of Revenue Intelligence - India
- Siam City Cement - Thailand
- Kalimantan Lumbung Energi - Indonesia
- Indika Energy - Indonesia
- Tata Chemicals Ltd - India
- Vizag Seaport Private Limited - India
- Meralco Power Generation, Philippines
- Videocon Industries ltd - India
- Aditya Birla Group - India
- Xindia Steels Limited - India
- Sakthi Sugars Limited - India
- Independent Power Producers Association of India
- Price Waterhouse Coopers - Russia
- Interocean Group of Companies - India
- Petron Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- Bukit Makmur.PT - Indonesia
- London Commodity Brokers - England
- CNBM International Corporation - China
- Sarangani Energy Corporation, Philippines
- GMR Energy Limited - India
- Thiess Contractors Indonesia
- Kohat Cement Company Ltd. - Pakistan
- South Luzon Thermal Energy Corporation
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Meenaskhi Energy Private Limited - India
- Sinarmas Energy and Mining - Indonesia
- Carbofer General Trading SA - India
- OPG Power Generation Pvt Ltd - India
- Grasim Industreis Ltd - India
- Trasteel International SA, Italy
- Timah Investasi Mineral - Indoneisa
- Global Coal Blending Company Limited - Australia
- Electricity Generating Authority of Thailand
- Merrill Lynch Commodities Europe
- Planning Commission, India
- Kumho Petrochemical, South Korea
- Kideco Jaya Agung - Indonesia
- SMG Consultants - Indonesia
- Thai Mozambique Logistica
- Bharathi Cement Corporation - India
- Jorong Barutama Greston.PT - Indonesia
- Binh Thuan Hamico - Vietnam
- Bulk Trading Sa - Switzerland
- Semirara Mining and Power Corporation, Philippines
- Agrawal Coal Company - India
- Metalloyd Limited - United Kingdom
- Holcim Trading Pte Ltd - Singapore
- Leighton Contractors Pty Ltd - Australia
- Global Business Power Corporation, Philippines
- Heidelberg Cement - Germany
- GVK Power & Infra Limited - India
- Standard Chartered Bank - UAE
- The University of Queensland
- PNOC Exploration Corporation - Philippines
- Global Green Power PLC Corporation, Philippines
- Sical Logistics Limited - India
- Therma Luzon, Inc, Philippines
- Aboitiz Power Corporation - Philippines
- Toyota Tsusho Corporation, Japan
- Larsen & Toubro Limited - India
- Wood Mackenzie - Singapore
- Georgia Ports Authority, United States
- Lanco Infratech Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Rio Tinto Coal - Australia
- Borneo Indobara - Indonesia
- Romanian Commodities Exchange
- Edison Trading Spa - Italy
- Siam City Cement PLC, Thailand
- Mercator Lines Limited - India
- Port Waratah Coal Services - Australia
- Kobexindo Tractors - Indoneisa
- MS Steel International - UAE
- Orica Australia Pty. Ltd.
- Parliament of New Zealand
- European Bulk Services B.V. - Netherlands
- Australian Commodity Traders Exchange
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Straits Asia Resources Limited - Singapore
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bukit Baiduri Energy - Indonesia
- Globalindo Alam Lestari - Indonesia
- Economic Council, Georgia
- Ceylon Electricity Board - Sri Lanka
- White Energy Company Limited
- ASAPP Information Group - India
- Medco Energi Mining Internasional
- Marubeni Corporation - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Cement Manufacturers Association - India
- Central Electricity Authority - India
- SMC Global Power, Philippines
- New Zealand Coal & Carbon
- Jaiprakash Power Ventures ltd
- Manunggal Multi Energi - Indonesia
- Antam Resourcindo - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ambuja Cements Ltd - India
- India Bulls Power Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Coal and Oil Company - UAE
- Intertek Mineral Services - Indonesia
- Energy Link Ltd, New Zealand
- Mjunction Services Limited - India
- Altura Mining Limited, Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Ministry of Finance - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Oldendorff Carriers - Singapore
- International Coal Ventures Pvt Ltd - India
- Sojitz Corporation - Japan
- Anglo American - United Kingdom
- TeaM Sual Corporation - Philippines
- PetroVietnam Power Coal Import and Supply Company
- Cigading International Bulk Terminal - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Simpson Spence & Young - Indonesia
- Uttam Galva Steels Limited - India
- Deloitte Consulting - India
- IHS Mccloskey Coal Group - USA
- Mercuria Energy - Indonesia
- Orica Mining Services - Indonesia
- Ind-Barath Power Infra Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Kapuas Tunggal Persada - Indonesia
- PTC India Limited - India
- Baramulti Group, Indonesia
- Rashtriya Ispat Nigam Limited - India
- Bhoruka Overseas - Indonesia
- Karaikal Port Pvt Ltd - India
- Energy Development Corp, Philippines
- Formosa Plastics Group - Taiwan
- Banpu Public Company Limited - Thailand
- Africa Commodities Group - South Africa
- CIMB Investment Bank - Malaysia
- PowerSource Philippines DevCo
- Dalmia Cement Bharat India
- Malabar Cements Ltd - India
- Barasentosa Lestari - Indonesia
- Iligan Light & Power Inc, Philippines
- Coalindo Energy - Indonesia
- Savvy Resources Ltd - HongKong
- Minerals Council of Australia
- Gujarat Sidhee Cement - India
- Madhucon Powers Ltd - India
- Power Finance Corporation Ltd., India
- Sree Jayajothi Cements Limited - India
- Goldman Sachs - Singapore
- Essar Steel Hazira Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Bayan Resources Tbk. - Indonesia
- Attock Cement Pakistan Limited
- Petrochimia International Co. Ltd.- Taiwan
- GAC Shipping (India) Pvt Ltd
- Kepco SPC Power Corporation, Philippines
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