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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, 12 March 12
DELTA DUNIA 1M OVERBURDEN DROPS 3.1% - INSIDER STORIES
Insider Stories reported that, Indonesia's second largest coal mining contractor PT Delta Dunia Makmur Tbk (DOID) reported a 25 million bank ...
Monday, 12 March 12
DRY BULK RATES WILL REMAIN LOW IN 2012 SAYS DANISH SHIP FINANCE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
In its annual shipping survey Danish Ship Finance said that the current outlook for the Dry Bulk market seems unlikely to foster higher rates in any ...
Monday, 12 March 12
WEEKLY DRY MARKET OVERVIEW - MARIA BERTZELETOU, HELLENIC SHIPPING
The first days of March appear to be more encouraging for dry bulk operators, but the outlook is still gloomy for the rest of year with earnings for ...
Sunday, 11 March 12
FREIGHT RATES FOR INDONESIA TO INDIA WILL CONTINUE TO REMAIN FIRM- VISTAAR
COALspot.com - This week saw another upward trend with all indices up except for the Cape index.
The BDI was up by 6.87 pct closing at 824 points ...
Friday, 09 March 12
MINING IN INDONESIA: RESTRICTION ON FOREIGN INVESTMENT - SUNIL K KUMBHAT
COALspot.com - Recently Govt has passed regulation instructing foreign mining companies to reduce their ownership stake.
The regulation known as ...
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- Romanian Commodities Exchange
- Ambuja Cements Ltd - India
- Malabar Cements Ltd - India
- Coastal Gujarat Power Limited - India
- Wood Mackenzie - Singapore
- Thiess Contractors Indonesia
- Aditya Birla Group - India
- Bhushan Steel Limited - India
- Holcim Trading Pte Ltd - Singapore
- Alfred C Toepfer International GmbH - Germany
- ASAPP Information Group - India
- Sindya Power Generating Company Private Ltd
- Star Paper Mills Limited - India
- Samtan Co., Ltd - South Korea
- Bukit Asam (Persero) Tbk - Indonesia
- European Bulk Services B.V. - Netherlands
- Power Finance Corporation Ltd., India
- Mjunction Services Limited - India
- Ministry of Transport, Egypt
- Indo Tambangraya Megah - Indonesia
- The Treasury - Australian Government
- Meralco Power Generation, Philippines
- Petron Corporation, Philippines
- The State Trading Corporation of India Ltd
- Interocean Group of Companies - India
- Sarangani Energy Corporation, Philippines
- Sojitz Corporation - Japan
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Maheswari Brothers Coal Limited - India
- Indian Energy Exchange, India
- Uttam Galva Steels Limited - India
- PetroVietnam Power Coal Import and Supply Company
- TeaM Sual Corporation - Philippines
- Siam City Cement PLC, Thailand
- Sinarmas Energy and Mining - Indonesia
- Manunggal Multi Energi - Indonesia
- Grasim Industreis Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Kapuas Tunggal Persada - Indonesia
- Cement Manufacturers Association - India
- CIMB Investment Bank - Malaysia
- Goldman Sachs - Singapore
- Independent Power Producers Association of India
- Jorong Barutama Greston.PT - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Metalloyd Limited - United Kingdom
- Antam Resourcindo - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Australian Commodity Traders Exchange
- Chamber of Mines of South Africa
- Agrawal Coal Company - India
- SMG Consultants - Indonesia
- Mintek Dendrill Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Therma Luzon, Inc, Philippines
- Binh Thuan Hamico - Vietnam
- Vizag Seaport Private Limited - India
- London Commodity Brokers - England
- Energy Link Ltd, New Zealand
- Parliament of New Zealand
- Altura Mining Limited, Indonesia
- Meenaskhi Energy Private Limited - India
- New Zealand Coal & Carbon
- Ceylon Electricity Board - Sri Lanka
- Kaltim Prima Coal - Indonesia
- Bayan Resources Tbk. - Indonesia
- Barasentosa Lestari - Indonesia
- Videocon Industries ltd - India
- Borneo Indobara - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Semirara Mining Corp, Philippines
- Intertek Mineral Services - Indonesia
- Price Waterhouse Coopers - Russia
- Global Business Power Corporation, Philippines
- Trasteel International SA, Italy
- Ind-Barath Power Infra Limited - India
- Billiton Holdings Pty Ltd - Australia
- San Jose City I Power Corp, Philippines
- Ministry of Finance - Indonesia
- Indogreen Group - Indonesia
- Singapore Mercantile Exchange
- Australian Coal Association
- Minerals Council of Australia
- GAC Shipping (India) Pvt Ltd
- Indika Energy - Indonesia
- PowerSource Philippines DevCo
- Georgia Ports Authority, United States
- Sree Jayajothi Cements Limited - India
- Planning Commission, India
- Thai Mozambique Logistica
- Port Waratah Coal Services - Australia
- South Luzon Thermal Energy Corporation
- Banpu Public Company Limited - Thailand
- Kartika Selabumi Mining - Indonesia
- International Coal Ventures Pvt Ltd - India
- Latin American Coal - Colombia
- Oldendorff Carriers - Singapore
- Kideco Jaya Agung - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Eastern Coal Council - USA
- PTC India Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Commonwealth Bank - Australia
- Kumho Petrochemical, South Korea
- Rio Tinto Coal - Australia
- Rashtriya Ispat Nigam Limited - India
- Ministry of Mines - Canada
- Deloitte Consulting - India
- Global Coal Blending Company Limited - Australia
- Kobexindo Tractors - Indoneisa
- Essar Steel Hazira Ltd - India
- Xindia Steels Limited - India
- The University of Queensland
- Orica Australia Pty. Ltd.
- Jindal Steel & Power Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Mercator Lines Limited - India
- Central Java Power - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Electricity Authority, New Zealand
- Wilmar Investment Holdings
- Offshore Bulk Terminal Pte Ltd, Singapore
- PNOC Exploration Corporation - Philippines
- Energy Development Corp, Philippines
- Tata Chemicals Ltd - India
- Economic Council, Georgia
- Vedanta Resources Plc - India
- Merrill Lynch Commodities Europe
- Lanco Infratech Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Bukit Baiduri Energy - Indonesia
- India Bulls Power Limited - India
- Medco Energi Mining Internasional
- Mercuria Energy - Indonesia
- Indonesian Coal Mining Association
- Attock Cement Pakistan Limited
- Carbofer General Trading SA - India
- Siam City Cement - Thailand
- Central Electricity Authority - India
- Indian Oil Corporation Limited
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Salva Resources Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Electricity Generating Authority of Thailand
- Renaissance Capital - South Africa
- Simpson Spence & Young - Indonesia
- Africa Commodities Group - South Africa
- IHS Mccloskey Coal Group - USA
- Bulk Trading Sa - Switzerland
- Straits Asia Resources Limited - Singapore
- ICICI Bank Limited - India
- Riau Bara Harum - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Iligan Light & Power Inc, Philippines
- Formosa Plastics Group - Taiwan
- Sical Logistics Limited - India
- Gujarat Electricity Regulatory Commission - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bukit Makmur.PT - Indonesia
- SMC Global Power, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Directorate Of Revenue Intelligence - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sakthi Sugars Limited - India
- Kalimantan Lumbung Energi - Indonesia
- White Energy Company Limited
- Edison Trading Spa - Italy
- Aboitiz Power Corporation - Philippines
- Coal and Oil Company - UAE
- Parry Sugars Refinery, India
- Coalindo Energy - Indonesia
- Baramulti Group, Indonesia
- VISA Power Limited - India
- Krishnapatnam Port Company Ltd. - India
- Bangladesh Power Developement Board
- McConnell Dowell - Australia
- LBH Netherlands Bv - Netherlands
- Heidelberg Cement - Germany
- Posco Energy - South Korea
- Orica Mining Services - Indonesia
- Kepco SPC Power Corporation, Philippines
- Anglo American - United Kingdom
- Makarim & Taira - Indonesia
- Standard Chartered Bank - UAE
- MS Steel International - UAE
- Larsen & Toubro Limited - India
- Timah Investasi Mineral - Indoneisa
- Global Green Power PLC Corporation, Philippines
- IEA Clean Coal Centre - UK
- Dalmia Cement Bharat India
- Globalindo Alam Lestari - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Bharathi Cement Corporation - India
- Chettinad Cement Corporation Ltd - India
- Jaiprakash Power Ventures ltd
- CNBM International Corporation - China
- Savvy Resources Ltd - HongKong
- Miang Besar Coal Terminal - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- OPG Power Generation Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bhatia International Limited - India
- Toyota Tsusho Corporation, Japan
- Marubeni Corporation - India
- Tamil Nadu electricity Board
- Gujarat Sidhee Cement - India
- Madhucon Powers Ltd - India
- Bhoruka Overseas - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Karaikal Port Pvt Ltd - India
- GMR Energy Limited - India
- Eastern Energy - Thailand
- GVK Power & Infra Limited - India
- SN Aboitiz Power Inc, Philippines
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