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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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Sunday, 18 March 12
BUKIT ASAM'S NET PROFIT IN 2011 ROSE 54% TO US$ 339.56 MILLION
COALspot.com - Company revenue for the period January - December 2011 amounting to Rp 10.6 trillion (approximately US$ 1,164,835,164.84) recorded an ...
Saturday, 17 March 12
THE FREIGHT RATES FOR INDONESIA TO INDIA REMAINED FIRM - VISTAAR SINGAPORE
COALspot.com - The market continued to be firm and all segments were up except for Cape Index which was down by 2.46 pct closing at 1,466 points.
...
Saturday, 17 March 12
INDIAN GOVT FINALIZES DRAFT BILL FOR COAL REGULATOR - PTI
The coal sector would soon get a regulator as the government has finalised a draft bill for the purpose, Coal Minister Sriprakash Jaiswal said Wedne ...
Friday, 16 March 12
THE PACIFIC MARKET IS FIRMING UP - FEARNLEYS AS
Handy
A slightly positive trend was seen last week in the Atlantic. Skaw-Passero deliveries fixed around USD 3k to US Gulf, while US Gulf deliveres ...
Thursday, 15 March 12
RAINS AVERAGE SELLING PRICE OF COAL WENT UP BY 22 % IN 2011
COALspot.com - PT. Resource Alam Indonesia Tbk, an Indonesian CCoW (3rd Generation) holder reported Wednesday a 171 percent increase in net profits ...
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- Vijayanagar Sugar Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Jindal Steel & Power Ltd - India
- Power Finance Corporation Ltd., India
- SN Aboitiz Power Inc, Philippines
- Bukit Makmur.PT - Indonesia
- Price Waterhouse Coopers - Russia
- PTC India Limited - India
- Timah Investasi Mineral - Indoneisa
- Mjunction Services Limited - India
- Ambuja Cements Ltd - India
- New Zealand Coal & Carbon
- Essar Steel Hazira Ltd - India
- Kideco Jaya Agung - Indonesia
- Larsen & Toubro Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Sakthi Sugars Limited - India
- India Bulls Power Limited - India
- Star Paper Mills Limited - India
- Billiton Holdings Pty Ltd - Australia
- Coastal Gujarat Power Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Maheswari Brothers Coal Limited - India
- SMC Global Power, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Attock Cement Pakistan Limited
- Altura Mining Limited, Indonesia
- Rio Tinto Coal - Australia
- Indonesian Coal Mining Association
- Oldendorff Carriers - Singapore
- Agrawal Coal Company - India
- Heidelberg Cement - Germany
- Mercuria Energy - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Salva Resources Pvt Ltd - India
- Romanian Commodities Exchange
- Siam City Cement - Thailand
- Georgia Ports Authority, United States
- Banpu Public Company Limited - Thailand
- Gujarat Electricity Regulatory Commission - India
- TeaM Sual Corporation - Philippines
- Indian Oil Corporation Limited
- London Commodity Brokers - England
- Metalloyd Limited - United Kingdom
- PetroVietnam Power Coal Import and Supply Company
- Ministry of Transport, Egypt
- The University of Queensland
- Australian Coal Association
- Simpson Spence & Young - Indonesia
- Wilmar Investment Holdings
- Intertek Mineral Services - Indonesia
- Coalindo Energy - Indonesia
- Energy Development Corp, Philippines
- Globalindo Alam Lestari - Indonesia
- Kartika Selabumi Mining - Indonesia
- Borneo Indobara - Indonesia
- Orica Mining Services - Indonesia
- ICICI Bank Limited - India
- Interocean Group of Companies - India
- Independent Power Producers Association of India
- Semirara Mining and Power Corporation, Philippines
- Cement Manufacturers Association - India
- Sree Jayajothi Cements Limited - India
- Marubeni Corporation - India
- Iligan Light & Power Inc, Philippines
- San Jose City I Power Corp, Philippines
- CIMB Investment Bank - Malaysia
- Kumho Petrochemical, South Korea
- Mintek Dendrill Indonesia
- Indogreen Group - Indonesia
- Meenaskhi Energy Private Limited - India
- IHS Mccloskey Coal Group - USA
- Dalmia Cement Bharat India
- Renaissance Capital - South Africa
- Xindia Steels Limited - India
- Kaltim Prima Coal - Indonesia
- Global Green Power PLC Corporation, Philippines
- Anglo American - United Kingdom
- Parliament of New Zealand
- Electricity Authority, New Zealand
- PowerSource Philippines DevCo
- ASAPP Information Group - India
- Mercator Lines Limited - India
- Parry Sugars Refinery, India
- Pipit Mutiara Jaya. PT, Indonesia
- Edison Trading Spa - Italy
- Australian Commodity Traders Exchange
- Singapore Mercantile Exchange
- Kohat Cement Company Ltd. - Pakistan
- CNBM International Corporation - China
- GMR Energy Limited - India
- Wood Mackenzie - Singapore
- Riau Bara Harum - Indonesia
- Semirara Mining Corp, Philippines
- Bayan Resources Tbk. - Indonesia
- Kobexindo Tractors - Indoneisa
- Malabar Cements Ltd - India
- Pendopo Energi Batubara - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Binh Thuan Hamico - Vietnam
- South Luzon Thermal Energy Corporation
- Bhatia International Limited - India
- Global Coal Blending Company Limited - Australia
- Economic Council, Georgia
- The State Trading Corporation of India Ltd
- Gujarat Sidhee Cement - India
- Karaikal Port Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- Merrill Lynch Commodities Europe
- Ministry of Mines - Canada
- Kapuas Tunggal Persada - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Eastern Coal Council - USA
- Jaiprakash Power Ventures ltd
- Jorong Barutama Greston.PT - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Meralco Power Generation, Philippines
- PNOC Exploration Corporation - Philippines
- Central Electricity Authority - India
- Bhushan Steel Limited - India
- Minerals Council of Australia
- Ceylon Electricity Board - Sri Lanka
- TNB Fuel Sdn Bhd - Malaysia
- Planning Commission, India
- European Bulk Services B.V. - Netherlands
- AsiaOL BioFuels Corp., Philippines
- GN Power Mariveles Coal Plant, Philippines
- Lanco Infratech Ltd - India
- Eastern Energy - Thailand
- Energy Link Ltd, New Zealand
- Ministry of Finance - Indonesia
- Medco Energi Mining Internasional
- Standard Chartered Bank - UAE
- LBH Netherlands Bv - Netherlands
- Sarangani Energy Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- Formosa Plastics Group - Taiwan
- Manunggal Multi Energi - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Sojitz Corporation - Japan
- Central Java Power - Indonesia
- MS Steel International - UAE
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Aboitiz Power Corporation - Philippines
- Vizag Seaport Private Limited - India
- Tata Chemicals Ltd - India
- Sindya Power Generating Company Private Ltd
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bahari Cakrawala Sebuku - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Indika Energy - Indonesia
- Straits Asia Resources Limited - Singapore
- Grasim Industreis Ltd - India
- Toyota Tsusho Corporation, Japan
- Bangladesh Power Developement Board
- Chamber of Mines of South Africa
- Offshore Bulk Terminal Pte Ltd, Singapore
- GAC Shipping (India) Pvt Ltd
- Cigading International Bulk Terminal - Indonesia
- Coal and Oil Company - UAE
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indo Tambangraya Megah - Indonesia
- Posco Energy - South Korea
- Thai Mozambique Logistica
- Asmin Koalindo Tuhup - Indonesia
- Aditya Birla Group - India
- Port Waratah Coal Services - Australia
- Sical Logistics Limited - India
- Chettinad Cement Corporation Ltd - India
- Tamil Nadu electricity Board
- Electricity Generating Authority of Thailand
- Global Business Power Corporation, Philippines
- Uttam Galva Steels Limited - India
- Samtan Co., Ltd - South Korea
- Bharathi Cement Corporation - India
- Barasentosa Lestari - Indonesia
- Goldman Sachs - Singapore
- Baramulti Group, Indonesia
- Leighton Contractors Pty Ltd - Australia
- McConnell Dowell - Australia
- Trasteel International SA, Italy
- Petron Corporation, Philippines
- Deloitte Consulting - India
- Vedanta Resources Plc - India
- Indian Energy Exchange, India
- Krishnapatnam Port Company Ltd. - India
- Kepco SPC Power Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- SMG Consultants - Indonesia
- VISA Power Limited - India
- Africa Commodities Group - South Africa
- IEA Clean Coal Centre - UK
- Videocon Industries ltd - India
- White Energy Company Limited
- Antam Resourcindo - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- The Treasury - Australian Government
- Sinarmas Energy and Mining - Indonesia
- Carbofer General Trading SA - India
- Directorate Of Revenue Intelligence - India
- Thiess Contractors Indonesia
- Orica Australia Pty. Ltd.
- Latin American Coal - Colombia
- Madhucon Powers Ltd - India
- Therma Luzon, Inc, Philippines
- GVK Power & Infra Limited - India
- International Coal Ventures Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Makarim & Taira - Indonesia
- Bulk Trading Sa - Switzerland
- Bukit Asam (Persero) Tbk - Indonesia
- Commonwealth Bank - Australia
- Neyveli Lignite Corporation Ltd, - India
- Bukit Baiduri Energy - Indonesia
- Siam City Cement PLC, Thailand
- Bhoruka Overseas - Indonesia
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