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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, 05 March 12
SOUTHGOBI ANNOUNCES AGREEMENT TO SELL ITS THERMAL COAL TSAGAAN TOLGOI DEPOSIT FOR US$ 30 MILLION
SouthGobi Resources Ltd. (TSX: SGQ, HK: 1878) announced today an agreement to sell its thermal coal property, the Tsagaan Tolgoi Deposit to Modun Re ...
Monday, 05 March 12
SOME RESOURCE TITANS NOT THRILLED WITH INDONESIAN EXPORT BAN - THE JAKARTA GLOBE
The Jakarta Globe reported that, local representatives of major business associations in East Kalimantan have protested a government regulation that ...
Monday, 05 March 12
WEEKLY DRY MARKET OVERVIEW - MARIA BERTZELETOU, HELLENIC SHIPPING
An air of optimism poured in the market this week for dry bulk shippers with the Baltic Dry Index recording daily gains during the end of February b ...
Sunday, 04 March 12
SE ASIA WAS FIRM FOR TRIPS TO INDIA AND CHINA - VISTAAR
COALspot.com - This week saw another upward trend with all indices up and generally market was firm.
The BDI was up by 7.38 pct closing at 771 po ...
Friday, 02 March 12
DJMBP HAS ANNOUNCED SECOND BATCH OF CLEAR N CLEAN CERTIFIED MINERS
COALspot.com - The Directorate general of mineral & coal of Indonesia has announced second batch of companies who have passed IUP Clear and Clea ...
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Showing 4826 to 4830 news of total 6871 |
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- Tata Chemicals Ltd - India
- ICICI Bank Limited - India
- Central Electricity Authority - India
- Orica Mining Services - Indonesia
- Sarangani Energy Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- Karaikal Port Pvt Ltd - India
- Indogreen Group - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ambuja Cements Ltd - India
- Grasim Industreis Ltd - India
- Wood Mackenzie - Singapore
- Baramulti Group, Indonesia
- Rio Tinto Coal - Australia
- Salva Resources Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Essar Steel Hazira Ltd - India
- European Bulk Services B.V. - Netherlands
- Timah Investasi Mineral - Indoneisa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Port Waratah Coal Services - Australia
- Neyveli Lignite Corporation Ltd, - India
- Medco Energi Mining Internasional
- Bank of Tokyo Mitsubishi UFJ Ltd
- Pipit Mutiara Jaya. PT, Indonesia
- McConnell Dowell - Australia
- Therma Luzon, Inc, Philippines
- CIMB Investment Bank - Malaysia
- Independent Power Producers Association of India
- Minerals Council of Australia
- TeaM Sual Corporation - Philippines
- Kalimantan Lumbung Energi - Indonesia
- India Bulls Power Limited - India
- Indonesian Coal Mining Association
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Vedanta Resources Plc - India
- OPG Power Generation Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- Kumho Petrochemical, South Korea
- Coal and Oil Company - UAE
- Leighton Contractors Pty Ltd - Australia
- Australian Commodity Traders Exchange
- Merrill Lynch Commodities Europe
- Alfred C Toepfer International GmbH - Germany
- Global Green Power PLC Corporation, Philippines
- Bhatia International Limited - India
- PNOC Exploration Corporation - Philippines
- Malabar Cements Ltd - India
- Kepco SPC Power Corporation, Philippines
- London Commodity Brokers - England
- Agrawal Coal Company - India
- Jaiprakash Power Ventures ltd
- Savvy Resources Ltd - HongKong
- Krishnapatnam Port Company Ltd. - India
- LBH Netherlands Bv - Netherlands
- Eastern Coal Council - USA
- PTC India Limited - India
- Global Business Power Corporation, Philippines
- Ministry of Mines - Canada
- Standard Chartered Bank - UAE
- Banpu Public Company Limited - Thailand
- Parry Sugars Refinery, India
- Kobexindo Tractors - Indoneisa
- The University of Queensland
- GAC Shipping (India) Pvt Ltd
- Thai Mozambique Logistica
- Marubeni Corporation - India
- Bangladesh Power Developement Board
- SMG Consultants - Indonesia
- Global Coal Blending Company Limited - Australia
- Jorong Barutama Greston.PT - Indonesia
- New Zealand Coal & Carbon
- Gujarat Sidhee Cement - India
- Aboitiz Power Corporation - Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Indo Tambangraya Megah - Indonesia
- The Treasury - Australian Government
- Indika Energy - Indonesia
- Power Finance Corporation Ltd., India
- Larsen & Toubro Limited - India
- Kapuas Tunggal Persada - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Billiton Holdings Pty Ltd - Australia
- Indian Energy Exchange, India
- South Luzon Thermal Energy Corporation
- TNB Fuel Sdn Bhd - Malaysia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Coalindo Energy - Indonesia
- Intertek Mineral Services - Indonesia
- Africa Commodities Group - South Africa
- The State Trading Corporation of India Ltd
- Indian Oil Corporation Limited
- Asmin Koalindo Tuhup - Indonesia
- Goldman Sachs - Singapore
- Chettinad Cement Corporation Ltd - India
- Straits Asia Resources Limited - Singapore
- Cement Manufacturers Association - India
- GVK Power & Infra Limited - India
- San Jose City I Power Corp, Philippines
- Altura Mining Limited, Indonesia
- Chamber of Mines of South Africa
- International Coal Ventures Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- Bhoruka Overseas - Indonesia
- Deloitte Consulting - India
- Attock Cement Pakistan Limited
- Madhucon Powers Ltd - India
- SMC Global Power, Philippines
- Interocean Group of Companies - India
- Renaissance Capital - South Africa
- SN Aboitiz Power Inc, Philippines
- Vizag Seaport Private Limited - India
- Directorate Of Revenue Intelligence - India
- Electricity Authority, New Zealand
- Kideco Jaya Agung - Indonesia
- IHS Mccloskey Coal Group - USA
- Trasteel International SA, Italy
- Bukit Makmur.PT - Indonesia
- MS Steel International - UAE
- Ind-Barath Power Infra Limited - India
- Petron Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bharathi Cement Corporation - India
- Ministry of Transport, Egypt
- Metalloyd Limited - United Kingdom
- Pendopo Energi Batubara - Indonesia
- Romanian Commodities Exchange
- Bayan Resources Tbk. - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Sinarmas Energy and Mining - Indonesia
- VISA Power Limited - India
- White Energy Company Limited
- Samtan Co., Ltd - South Korea
- Jindal Steel & Power Ltd - India
- Meralco Power Generation, Philippines
- Parliament of New Zealand
- GN Power Mariveles Coal Plant, Philippines
- Mercator Lines Limited - India
- Formosa Plastics Group - Taiwan
- Toyota Tsusho Corporation, Japan
- PowerSource Philippines DevCo
- Miang Besar Coal Terminal - Indonesia
- Carbofer General Trading SA - India
- Thiess Contractors Indonesia
- Ceylon Electricity Board - Sri Lanka
- Planning Commission, India
- Siam City Cement - Thailand
- Semirara Mining Corp, Philippines
- Georgia Ports Authority, United States
- Uttam Galva Steels Limited - India
- Siam City Cement PLC, Thailand
- Xindia Steels Limited - India
- Barasentosa Lestari - Indonesia
- Latin American Coal - Colombia
- Borneo Indobara - Indonesia
- Sree Jayajothi Cements Limited - India
- GMR Energy Limited - India
- Eastern Energy - Thailand
- Price Waterhouse Coopers - Russia
- Edison Trading Spa - Italy
- Riau Bara Harum - Indonesia
- Bhushan Steel Limited - India
- Oldendorff Carriers - Singapore
- Semirara Mining and Power Corporation, Philippines
- Singapore Mercantile Exchange
- Orica Australia Pty. Ltd.
- Bulk Trading Sa - Switzerland
- Maharashtra Electricity Regulatory Commission - India
- Makarim & Taira - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Central Java Power - Indonesia
- Mjunction Services Limited - India
- Sical Logistics Limited - India
- Heidelberg Cement - Germany
- Antam Resourcindo - Indonesia
- Mercuria Energy - Indonesia
- Energy Link Ltd, New Zealand
- Sakthi Sugars Limited - India
- Videocon Industries ltd - India
- Energy Development Corp, Philippines
- Ministry of Finance - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kartika Selabumi Mining - Indonesia
- IEA Clean Coal Centre - UK
- Star Paper Mills Limited - India
- Sojitz Corporation - Japan
- PetroVietnam Power Coal Import and Supply Company
- Economic Council, Georgia
- Posco Energy - South Korea
- Lanco Infratech Ltd - India
- CNBM International Corporation - China
- ASAPP Information Group - India
- Cigading International Bulk Terminal - Indonesia
- Tamil Nadu electricity Board
- Gujarat Mineral Development Corp Ltd - India
- Anglo American - United Kingdom
- Wilmar Investment Holdings
- Dalmia Cement Bharat India
- Manunggal Multi Energi - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Globalindo Alam Lestari - Indonesia
- Australian Coal Association
- Simpson Spence & Young - Indonesia
- Iligan Light & Power Inc, Philippines
- Aditya Birla Group - India
- Meenaskhi Energy Private Limited - India
- Sindya Power Generating Company Private Ltd
- Holcim Trading Pte Ltd - Singapore
- Kaltim Prima Coal - Indonesia
- Electricity Generating Authority of Thailand
- Directorate General of MIneral and Coal - Indonesia
- Mintek Dendrill Indonesia
- AsiaOL BioFuels Corp., Philippines
- Commonwealth Bank - Australia
- Karbindo Abesyapradhi - Indoneisa
- Vijayanagar Sugar Pvt Ltd - India
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