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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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Monday, 07 November 11
CHINA'S COAL IMPORTS STEAM AHEAD
Chinese seaborne coal imports have grown greatly in recent years, up from 39.2mt in 2008 to 167.7mt in 2010, with the result that China became a net ...
Saturday, 05 November 11
DEMAND SLUMP THREATENS MORE PAIN FOR BULK VESSELS - VISTAAR
COALspot.com - The market continued to fall with BDI dropping below 2,000 points by around 10 pct and closing at 1817 points. The cape index also co ...
Saturday, 05 November 11
BERAU STARTS TO EXPLORE BINUNGAN SITE - INSIDER STORIES
Insider Stories reported that, coal miner PT Berau Coal, a 90% owned subsidiary of PT Berau Coal Energy Tbk (BRAU), is busy to hold exploration in B ...
Friday, 04 November 11
INDIAN IRON ORE MARKET REMAINS DEAD - FEARNLEYS
Handy
The Atlantic market kept its strong position from last week. Even with fewer fixtures reported. Fronthauls still around 25k, wit ...
Thursday, 03 November 11
DRY BULK MARKET OFFICIALLY IN THE RED ON LOWER CARGO DEMAND - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market kept falling yesterday, on lower iron ore demand, which has caused the industry’s benchmark, the BDI (Baltic Dry Index) to ...
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- Binh Thuan Hamico - Vietnam
- Posco Energy - South Korea
- Krishnapatnam Port Company Ltd. - India
- Indian Oil Corporation Limited
- London Commodity Brokers - England
- Renaissance Capital - South Africa
- SN Aboitiz Power Inc, Philippines
- Siam City Cement - Thailand
- Africa Commodities Group - South Africa
- Vedanta Resources Plc - India
- Lanco Infratech Ltd - India
- Maheswari Brothers Coal Limited - India
- Kideco Jaya Agung - Indonesia
- Meenaskhi Energy Private Limited - India
- Planning Commission, India
- CIMB Investment Bank - Malaysia
- CNBM International Corporation - China
- Indo Tambangraya Megah - Indonesia
- Goldman Sachs - Singapore
- White Energy Company Limited
- Anglo American - United Kingdom
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Rio Tinto Coal - Australia
- McConnell Dowell - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Aboitiz Power Corporation - Philippines
- Indian Energy Exchange, India
- Vijayanagar Sugar Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- SMG Consultants - Indonesia
- Mjunction Services Limited - India
- Vizag Seaport Private Limited - India
- VISA Power Limited - India
- Bayan Resources Tbk. - Indonesia
- Jaiprakash Power Ventures ltd
- Heidelberg Cement - Germany
- Indogreen Group - Indonesia
- Intertek Mineral Services - Indonesia
- The Treasury - Australian Government
- GAC Shipping (India) Pvt Ltd
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- India Bulls Power Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Singapore Mercantile Exchange
- Kaltim Prima Coal - Indonesia
- TeaM Sual Corporation - Philippines
- Siam City Cement PLC, Thailand
- Mercuria Energy - Indonesia
- Bhatia International Limited - India
- Riau Bara Harum - Indonesia
- Baramulti Group, Indonesia
- Thiess Contractors Indonesia
- International Coal Ventures Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Tata Chemicals Ltd - India
- Energy Development Corp, Philippines
- Chamber of Mines of South Africa
- Bhoruka Overseas - Indonesia
- Edison Trading Spa - Italy
- The University of Queensland
- Carbofer General Trading SA - India
- Orica Australia Pty. Ltd.
- Minerals Council of Australia
- Jorong Barutama Greston.PT - Indonesia
- Bharathi Cement Corporation - India
- AsiaOL BioFuels Corp., Philippines
- Kapuas Tunggal Persada - Indonesia
- Merrill Lynch Commodities Europe
- Orica Mining Services - Indonesia
- Manunggal Multi Energi - Indonesia
- Simpson Spence & Young - Indonesia
- Ministry of Mines - Canada
- GMR Energy Limited - India
- Australian Commodity Traders Exchange
- Gujarat Sidhee Cement - India
- Aditya Birla Group - India
- IHS Mccloskey Coal Group - USA
- ASAPP Information Group - India
- Sarangani Energy Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Global Green Power PLC Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- Kartika Selabumi Mining - Indonesia
- Uttam Galva Steels Limited - India
- Global Business Power Corporation, Philippines
- Latin American Coal - Colombia
- Medco Energi Mining Internasional
- PTC India Limited - India
- Standard Chartered Bank - UAE
- Coastal Gujarat Power Limited - India
- PowerSource Philippines DevCo
- Xindia Steels Limited - India
- Kumho Petrochemical, South Korea
- Ind-Barath Power Infra Limited - India
- Globalindo Alam Lestari - Indonesia
- South Luzon Thermal Energy Corporation
- Maharashtra Electricity Regulatory Commission - India
- Power Finance Corporation Ltd., India
- TNB Fuel Sdn Bhd - Malaysia
- Parry Sugars Refinery, India
- Sree Jayajothi Cements Limited - India
- Savvy Resources Ltd - HongKong
- Makarim & Taira - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Directorate General of MIneral and Coal - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Ambuja Cements Ltd - India
- Metalloyd Limited - United Kingdom
- Ministry of Transport, Egypt
- Sojitz Corporation - Japan
- Bangladesh Power Developement Board
- Cigading International Bulk Terminal - Indonesia
- Malabar Cements Ltd - India
- Bhushan Steel Limited - India
- Interocean Group of Companies - India
- Leighton Contractors Pty Ltd - Australia
- Commonwealth Bank - Australia
- Deloitte Consulting - India
- Directorate Of Revenue Intelligence - India
- Wilmar Investment Holdings
- Kobexindo Tractors - Indoneisa
- Attock Cement Pakistan Limited
- Energy Link Ltd, New Zealand
- Barasentosa Lestari - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- MS Steel International - UAE
- Altura Mining Limited, Indonesia
- Port Waratah Coal Services - Australia
- Star Paper Mills Limited - India
- Alfred C Toepfer International GmbH - Germany
- Pipit Mutiara Jaya. PT, Indonesia
- Indika Energy - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- Price Waterhouse Coopers - Russia
- Kepco SPC Power Corporation, Philippines
- Dalmia Cement Bharat India
- LBH Netherlands Bv - Netherlands
- Salva Resources Pvt Ltd - India
- Antam Resourcindo - Indonesia
- Banpu Public Company Limited - Thailand
- Oldendorff Carriers - Singapore
- Indonesian Coal Mining Association
- Sakthi Sugars Limited - India
- SMC Global Power, Philippines
- Thai Mozambique Logistica
- Petron Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Marubeni Corporation - India
- Cement Manufacturers Association - India
- Bulk Trading Sa - Switzerland
- Gujarat Electricity Regulatory Commission - India
- ICICI Bank Limited - India
- Georgia Ports Authority, United States
- Borneo Indobara - Indonesia
- The State Trading Corporation of India Ltd
- Jindal Steel & Power Ltd - India
- Sindya Power Generating Company Private Ltd
- IEA Clean Coal Centre - UK
- Eastern Coal Council - USA
- Wood Mackenzie - Singapore
- Electricity Generating Authority of Thailand
- Meralco Power Generation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Bukit Baiduri Energy - Indonesia
- Independent Power Producers Association of India
- Economic Council, Georgia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Madhucon Powers Ltd - India
- San Jose City I Power Corp, Philippines
- Timah Investasi Mineral - Indoneisa
- Mintek Dendrill Indonesia
- Videocon Industries ltd - India
- Ministry of Finance - Indonesia
- Trasteel International SA, Italy
- Karbindo Abesyapradhi - Indoneisa
- Kohat Cement Company Ltd. - Pakistan
- Central Java Power - Indonesia
- Sical Logistics Limited - India
- OPG Power Generation Pvt Ltd - India
- Parliament of New Zealand
- PNOC Exploration Corporation - Philippines
- Iligan Light & Power Inc, Philippines
- Ceylon Electricity Board - Sri Lanka
- Australian Coal Association
- Samtan Co., Ltd - South Korea
- Sinarmas Energy and Mining - Indonesia
- New Zealand Coal & Carbon
- Kalimantan Lumbung Energi - Indonesia
- Central Electricity Authority - India
- Essar Steel Hazira Ltd - India
- Electricity Authority, New Zealand
- GVK Power & Infra Limited - India
- Eastern Energy - Thailand
- Semirara Mining Corp, Philippines
- Mercator Lines Limited - India
- Therma Luzon, Inc, Philippines
- Agrawal Coal Company - India
- Toyota Tsusho Corporation, Japan
- Billiton Holdings Pty Ltd - Australia
- Coal and Oil Company - UAE
- Coalindo Energy - Indonesia
- Formosa Plastics Group - Taiwan
- Straits Asia Resources Limited - Singapore
- Asmin Koalindo Tuhup - Indonesia
- Romanian Commodities Exchange
- Karaikal Port Pvt Ltd - India
- Larsen & Toubro Limited - India
- Grasim Industreis Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Tamil Nadu electricity Board
- Global Coal Blending Company Limited - Australia
- European Bulk Services B.V. - Netherlands
- Miang Besar Coal Terminal - Indonesia
- Chettinad Cement Corporation Ltd - India
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