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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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Friday, 09 March 12
SHIP OWNERS LOOKING TO CHINA FOR REVIVAL, WHILE THEY KEEP SELLING OLD SHIPS FOR SCRAP - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
With China’s economic policy plan for the future on every ship owner’s mind, at least those involved in the dry bulk industry, the lates ...
Thursday, 08 March 12
INDONESIA'S COAL SECTOR CAN BENEFIT FROM CLEARER REGULATIONS - FITCH RATINGS
Fitch Ratings says Indonesia's coal mining sector should continue to see strong growth prospects but can benefit from clearer and more predictable ...
Thursday, 08 March 12
DRY BULK MARKET ON THE RISE; CHINAS COAL IMPORTS COULD INCREASE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market kept on rising back to healthier levels yesterday, with the BDI (Baltic Dry Index) the industry’s benchmark, marking its 8 ...
Wednesday, 07 March 12
INDONESIA COAL BENCHMARK PRICE GAINS FOR SECOND MONTH
COALspot.com - Indonesia raised the monthly coal reference price for sales in March by 1.15 percent, the second increase since February.
The Mini ...
Wednesday, 07 March 12
INDONESIA TO LIMIT FOREIGN OWNERSHIP IN MINES TO 49 PERCENT WITHIN 10 YEARS OF PRODUCTION
COALspot.com - Foreign holders of mining licenses in Indonesia have to divert 51% of their stakes to Indonesian government or domestic entitie ...
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Showing 4816 to 4820 news of total 6871 |
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- Sindya Power Generating Company Private Ltd
- Kepco SPC Power Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- Latin American Coal - Colombia
- The University of Queensland
- PowerSource Philippines DevCo
- TeaM Sual Corporation - Philippines
- Tamil Nadu electricity Board
- Globalindo Alam Lestari - Indonesia
- Price Waterhouse Coopers - Russia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Eastern Coal Council - USA
- Kaltim Prima Coal - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Bukit Makmur.PT - Indonesia
- Indian Energy Exchange, India
- The Treasury - Australian Government
- Bulk Trading Sa - Switzerland
- Star Paper Mills Limited - India
- Holcim Trading Pte Ltd - Singapore
- Kapuas Tunggal Persada - Indonesia
- GMR Energy Limited - India
- Bharathi Cement Corporation - India
- Marubeni Corporation - India
- Maheswari Brothers Coal Limited - India
- Energy Link Ltd, New Zealand
- Indogreen Group - Indonesia
- Ministry of Transport, Egypt
- Thai Mozambique Logistica
- London Commodity Brokers - England
- GVK Power & Infra Limited - India
- Ind-Barath Power Infra Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Bhatia International Limited - India
- Sarangani Energy Corporation, Philippines
- Altura Mining Limited, Indonesia
- Sical Logistics Limited - India
- Miang Besar Coal Terminal - Indonesia
- Aditya Birla Group - India
- Rashtriya Ispat Nigam Limited - India
- Economic Council, Georgia
- Baramulti Group, Indonesia
- Standard Chartered Bank - UAE
- Uttam Galva Steels Limited - India
- Romanian Commodities Exchange
- MS Steel International - UAE
- McConnell Dowell - Australia
- Indian Oil Corporation Limited
- Larsen & Toubro Limited - India
- Simpson Spence & Young - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Malabar Cements Ltd - India
- Planning Commission, India
- Leighton Contractors Pty Ltd - Australia
- Kideco Jaya Agung - Indonesia
- Vedanta Resources Plc - India
- Sree Jayajothi Cements Limited - India
- Toyota Tsusho Corporation, Japan
- Electricity Authority, New Zealand
- CIMB Investment Bank - Malaysia
- Vijayanagar Sugar Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Coalindo Energy - Indonesia
- Indika Energy - Indonesia
- CNBM International Corporation - China
- Gujarat Electricity Regulatory Commission - India
- Cement Manufacturers Association - India
- Medco Energi Mining Internasional
- Bank of Tokyo Mitsubishi UFJ Ltd
- Vizag Seaport Private Limited - India
- Karaikal Port Pvt Ltd - India
- New Zealand Coal & Carbon
- Barasentosa Lestari - Indonesia
- Semirara Mining and Power Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- SMC Global Power, Philippines
- Energy Development Corp, Philippines
- Bhoruka Overseas - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- The State Trading Corporation of India Ltd
- Petrochimia International Co. Ltd.- Taiwan
- Heidelberg Cement - Germany
- Africa Commodities Group - South Africa
- Cigading International Bulk Terminal - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Directorate General of MIneral and Coal - Indonesia
- Manunggal Multi Energi - Indonesia
- Borneo Indobara - Indonesia
- Parliament of New Zealand
- Jaiprakash Power Ventures ltd
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kartika Selabumi Mining - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Xindia Steels Limited - India
- Chamber of Mines of South Africa
- Indonesian Coal Mining Association
- Central Electricity Authority - India
- Grasim Industreis Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Ceylon Electricity Board - Sri Lanka
- Therma Luzon, Inc, Philippines
- OPG Power Generation Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- ASAPP Information Group - India
- Central Java Power - Indonesia
- Ministry of Finance - Indonesia
- Riau Bara Harum - Indonesia
- San Jose City I Power Corp, Philippines
- International Coal Ventures Pvt Ltd - India
- Oldendorff Carriers - Singapore
- Mintek Dendrill Indonesia
- Merrill Lynch Commodities Europe
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bhushan Steel Limited - India
- Electricity Generating Authority of Thailand
- Agrawal Coal Company - India
- Meenaskhi Energy Private Limited - India
- Mercator Lines Limited - India
- Australian Commodity Traders Exchange
- Australian Coal Association
- ICICI Bank Limited - India
- Ambuja Cements Ltd - India
- Parry Sugars Refinery, India
- Global Green Power PLC Corporation, Philippines
- Petron Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- Indo Tambangraya Megah - Indonesia
- Tata Chemicals Ltd - India
- Carbofer General Trading SA - India
- Gujarat Sidhee Cement - India
- Wilmar Investment Holdings
- Gujarat Mineral Development Corp Ltd - India
- Savvy Resources Ltd - HongKong
- Sojitz Corporation - Japan
- Edison Trading Spa - Italy
- SN Aboitiz Power Inc, Philippines
- SMG Consultants - Indonesia
- India Bulls Power Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Timah Investasi Mineral - Indoneisa
- IHS Mccloskey Coal Group - USA
- Georgia Ports Authority, United States
- Asmin Koalindo Tuhup - Indonesia
- GAC Shipping (India) Pvt Ltd
- Deloitte Consulting - India
- Trasteel International SA, Italy
- Madhucon Powers Ltd - India
- Salva Resources Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Power Finance Corporation Ltd., India
- Rio Tinto Coal - Australia
- Videocon Industries ltd - India
- Port Waratah Coal Services - Australia
- Eastern Energy - Thailand
- Binh Thuan Hamico - Vietnam
- Kumho Petrochemical, South Korea
- Anglo American - United Kingdom
- Commonwealth Bank - Australia
- European Bulk Services B.V. - Netherlands
- Neyveli Lignite Corporation Ltd, - India
- AsiaOL BioFuels Corp., Philippines
- Meralco Power Generation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Independent Power Producers Association of India
- Metalloyd Limited - United Kingdom
- Dalmia Cement Bharat India
- Sinarmas Energy and Mining - Indonesia
- Global Business Power Corporation, Philippines
- Minerals Council of Australia
- Posco Energy - South Korea
- Iligan Light & Power Inc, Philippines
- Kobexindo Tractors - Indoneisa
- White Energy Company Limited
- Straits Asia Resources Limited - Singapore
- Directorate Of Revenue Intelligence - India
- Samtan Co., Ltd - South Korea
- Ministry of Mines - Canada
- Mercuria Energy - Indonesia
- Antam Resourcindo - Indonesia
- Interocean Group of Companies - India
- Siam City Cement - Thailand
- PetroVietnam Power Coal Import and Supply Company
- Coastal Gujarat Power Limited - India
- Aboitiz Power Corporation - Philippines
- Orica Mining Services - Indonesia
- PNOC Exploration Corporation - Philippines
- Intertek Mineral Services - Indonesia
- Mjunction Services Limited - India
- Wood Mackenzie - Singapore
- VISA Power Limited - India
- Lanco Infratech Ltd - India
- Coal and Oil Company - UAE
- Makarim & Taira - Indonesia
- Formosa Plastics Group - Taiwan
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sakthi Sugars Limited - India
- Pendopo Energi Batubara - Indonesia
- Attock Cement Pakistan Limited
- Essar Steel Hazira Ltd - India
- Chettinad Cement Corporation Ltd - India
- Orica Australia Pty. Ltd.
- Semirara Mining Corp, Philippines
- Banpu Public Company Limited - Thailand
- Bangladesh Power Developement Board
- Siam City Cement PLC, Thailand
- Singapore Mercantile Exchange
- Goldman Sachs - Singapore
- Renaissance Capital - South Africa
- Thiess Contractors Indonesia
- IEA Clean Coal Centre - UK
- PTC India Limited - India
- South Luzon Thermal Energy Corporation
- Bayan Resources Tbk. - Indonesia
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