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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, 27 March 12
DRY BULK MARKET KEEP RISING FOLLOWING THE SAME TREND OF LAST WEEK - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market kept its upward momentum this week, on the same reasons of those last week. That is, the smaller ship types are still on the ris ...
Monday, 26 March 12
WEEKLY DRY MARKET OVERVIEW - MARIA BERTZELETOU, HELLENIC SHIPPING
The Baltic Dry Index follows its upward incline for fourth consecutive week by rising to more than 900 points, up by 37% from the bottom low in the ...
Monday, 26 March 12
GOLDEN MINES FY11 REVENUE JUMPS 209% - INSIDER STORIES
Insider Stories reported that, coal miner PT Golden Energy Mines Tbk (GEMS), that is controlled by Sinar Mas Group, recorded a 209% jump in revenue ...
Saturday, 24 March 12
AUSTRALIA'S MINERAL TAX : BENCHMARK FOR OTHER COUNTRIES - SUNIL K KUMBHAT
COALspot.com - Natural resources rich counties like Australia , Indonesia , South Africa , Brazil etc are going through a spectacular resources boom ...
Saturday, 24 March 12
THE AVERAGE CHARTER RATES WAS AT CAPESIZE $ 4,546 PER DAY VS SUPRAMAX / $ 10,819 PER DAY - VISTAAR
COALspot.com - The BDI crossed 900 points this week closing at 908 points up by 3.89 pct. All other sectors were up except for cape index whic ...
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- Heidelberg Cement - Germany
- Coastal Gujarat Power Limited - India
- Ministry of Finance - Indonesia
- The University of Queensland
- Maheswari Brothers Coal Limited - India
- Planning Commission, India
- TNB Fuel Sdn Bhd - Malaysia
- Sakthi Sugars Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Thiess Contractors Indonesia
- Orica Australia Pty. Ltd.
- Energy Development Corp, Philippines
- San Jose City I Power Corp, Philippines
- Attock Cement Pakistan Limited
- Kumho Petrochemical, South Korea
- Standard Chartered Bank - UAE
- Merrill Lynch Commodities Europe
- CIMB Investment Bank - Malaysia
- Vizag Seaport Private Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Altura Mining Limited, Indonesia
- Baramulti Group, Indonesia
- Power Finance Corporation Ltd., India
- Australian Commodity Traders Exchange
- Sree Jayajothi Cements Limited - India
- Sinarmas Energy and Mining - Indonesia
- SMC Global Power, Philippines
- Bhushan Steel Limited - India
- Metalloyd Limited - United Kingdom
- Ministry of Transport, Egypt
- Maharashtra Electricity Regulatory Commission - India
- Petrochimia International Co. Ltd.- Taiwan
- Kepco SPC Power Corporation, Philippines
- Sojitz Corporation - Japan
- Leighton Contractors Pty Ltd - Australia
- Barasentosa Lestari - Indonesia
- Intertek Mineral Services - Indonesia
- Vedanta Resources Plc - India
- Semirara Mining and Power Corporation, Philippines
- Mercuria Energy - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Larsen & Toubro Limited - India
- Electricity Authority, New Zealand
- India Bulls Power Limited - India
- Jindal Steel & Power Ltd - India
- Bangladesh Power Developement Board
- Indika Energy - Indonesia
- Gujarat Sidhee Cement - India
- ICICI Bank Limited - India
- PetroVietnam Power Coal Import and Supply Company
- SMG Consultants - Indonesia
- Ministry of Mines - Canada
- Pipit Mutiara Jaya. PT, Indonesia
- TeaM Sual Corporation - Philippines
- Eastern Energy - Thailand
- European Bulk Services B.V. - Netherlands
- Kideco Jaya Agung - Indonesia
- Global Business Power Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- Mercator Lines Limited - India
- Romanian Commodities Exchange
- Siam City Cement - Thailand
- New Zealand Coal & Carbon
- Directorate Of Revenue Intelligence - India
- Chettinad Cement Corporation Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Uttam Galva Steels Limited - India
- Central Electricity Authority - India
- Posco Energy - South Korea
- Lanco Infratech Ltd - India
- Simpson Spence & Young - Indonesia
- Riau Bara Harum - Indonesia
- Kobexindo Tractors - Indoneisa
- Energy Link Ltd, New Zealand
- Meralco Power Generation, Philippines
- Indian Oil Corporation Limited
- Bukit Baiduri Energy - Indonesia
- Aboitiz Power Corporation - Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- Petron Corporation, Philippines
- Medco Energi Mining Internasional
- Pendopo Energi Batubara - Indonesia
- Bayan Resources Tbk. - Indonesia
- Malabar Cements Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- GAC Shipping (India) Pvt Ltd
- Cement Manufacturers Association - India
- PowerSource Philippines DevCo
- Karaikal Port Pvt Ltd - India
- Commonwealth Bank - Australia
- IEA Clean Coal Centre - UK
- PNOC Exploration Corporation - Philippines
- Manunggal Multi Energi - Indonesia
- Siam City Cement PLC, Thailand
- Tamil Nadu electricity Board
- GN Power Mariveles Coal Plant, Philippines
- Coal and Oil Company - UAE
- Gujarat Electricity Regulatory Commission - India
- Edison Trading Spa - Italy
- Sical Logistics Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Grasim Industreis Ltd - India
- Sarangani Energy Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- AsiaOL BioFuels Corp., Philippines
- Deloitte Consulting - India
- PTC India Limited - India
- Banpu Public Company Limited - Thailand
- Indo Tambangraya Megah - Indonesia
- Straits Asia Resources Limited - Singapore
- Jorong Barutama Greston.PT - Indonesia
- Parry Sugars Refinery, India
- GMR Energy Limited - India
- Tata Chemicals Ltd - India
- Ambuja Cements Ltd - India
- Indonesian Coal Mining Association
- Holcim Trading Pte Ltd - Singapore
- Jaiprakash Power Ventures ltd
- Binh Thuan Hamico - Vietnam
- Mintek Dendrill Indonesia
- ASAPP Information Group - India
- The State Trading Corporation of India Ltd
- Bhoruka Overseas - Indonesia
- Aditya Birla Group - India
- Eastern Coal Council - USA
- Alfred C Toepfer International GmbH - Germany
- Central Java Power - Indonesia
- Bukit Makmur.PT - Indonesia
- MS Steel International - UAE
- Borneo Indobara - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Bharathi Cement Corporation - India
- White Energy Company Limited
- Globalindo Alam Lestari - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Latin American Coal - Colombia
- Cigading International Bulk Terminal - Indonesia
- Interocean Group of Companies - India
- Georgia Ports Authority, United States
- Anglo American - United Kingdom
- Formosa Plastics Group - Taiwan
- Port Waratah Coal Services - Australia
- Billiton Holdings Pty Ltd - Australia
- Minerals Council of Australia
- Marubeni Corporation - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Thai Mozambique Logistica
- South Luzon Thermal Energy Corporation
- Offshore Bulk Terminal Pte Ltd, Singapore
- Australian Coal Association
- Indian Energy Exchange, India
- Timah Investasi Mineral - Indoneisa
- Chamber of Mines of South Africa
- Directorate General of MIneral and Coal - Indonesia
- Goldman Sachs - Singapore
- Xindia Steels Limited - India
- Wood Mackenzie - Singapore
- Vijayanagar Sugar Pvt Ltd - India
- Essar Steel Hazira Ltd - India
- Economic Council, Georgia
- GVK Power & Infra Limited - India
- Wilmar Investment Holdings
- Makarim & Taira - Indonesia
- Independent Power Producers Association of India
- Africa Commodities Group - South Africa
- Madhucon Powers Ltd - India
- Salva Resources Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Bulk Trading Sa - Switzerland
- Savvy Resources Ltd - HongKong
- Kohat Cement Company Ltd. - Pakistan
- Orica Mining Services - Indonesia
- Oldendorff Carriers - Singapore
- The Treasury - Australian Government
- Indogreen Group - Indonesia
- Carbofer General Trading SA - India
- Neyveli Lignite Corporation Ltd, - India
- Renaissance Capital - South Africa
- Samtan Co., Ltd - South Korea
- Mjunction Services Limited - India
- Global Green Power PLC Corporation, Philippines
- Price Waterhouse Coopers - Russia
- Bhatia International Limited - India
- CNBM International Corporation - China
- Semirara Mining Corp, Philippines
- Electricity Generating Authority of Thailand
- Kapuas Tunggal Persada - Indonesia
- Iligan Light & Power Inc, Philippines
- Videocon Industries ltd - India
- Sindya Power Generating Company Private Ltd
- Ceylon Electricity Board - Sri Lanka
- OPG Power Generation Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Rio Tinto Coal - Australia
- Antam Resourcindo - Indonesia
- Global Coal Blending Company Limited - Australia
- SN Aboitiz Power Inc, Philippines
- Parliament of New Zealand
- London Commodity Brokers - England
- LBH Netherlands Bv - Netherlands
- Krishnapatnam Port Company Ltd. - India
- Agrawal Coal Company - India
- Star Paper Mills Limited - India
- Dalmia Cement Bharat India
- VISA Power Limited - India
- International Coal Ventures Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- Toyota Tsusho Corporation, Japan
- Trasteel International SA, Italy
- Meenaskhi Energy Private Limited - India
- Singapore Mercantile Exchange
- Coalindo Energy - Indonesia
- McConnell Dowell - Australia
- Therma Luzon, Inc, Philippines
- Ind-Barath Power Infra Limited - India
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