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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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Thursday, 01 March 12
BUKIT ASAM TARGETS EUROPEAN INVESTORS
COALspot.com - PT. Bukit Asam (persero) Tbk, Indonesian state owned coal miner is planning to conduct road show in Europe next week to target at Eur ...
Thursday, 01 March 12
INDO-INDIA, LARGE ECO SUPRA CAN FETCH CLOSE TO USD 9K DOP N.CHINA - FEARNLEYS AS
Handy
The Atlantic Handysize market did not see any signs for recovery this week. It is still a major lack of spot cargoes and an oversupply of pro ...
Wednesday, 29 February 12
69 MINERS AGREE TO RENEGOTIATE CONTRACTS - THE JAKARTA POST
The Jakarta Post, one of the leading English news papaer in Indonesia reported that, as many as 60 coal contracts-of-work (PKP2B) and nine non-coal ...
Wednesday, 29 February 12
PUTTING COAL GASIFICATION TO WORK
Clifford Reese of the SSOE Group looks at practical solutions for district energy leaders who wish to implement clean coal technology.
Coal fuels ...
Monday, 27 February 12
COAL MINING PROFITS TOO HIGH, SAYS GOVT - TEMPO INTERACTIVE
Tempo Interactive reported that, Energy and Mineral Resources Deputy Minister of Indonesia Widjajono Partowidagdo has criticized coal-mining compani ...
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- White Energy Company Limited
- Deloitte Consulting - India
- Goldman Sachs - Singapore
- Coalindo Energy - Indonesia
- Ministry of Finance - Indonesia
- European Bulk Services B.V. - Netherlands
- Mercator Lines Limited - India
- Bulk Trading Sa - Switzerland
- Globalindo Alam Lestari - Indonesia
- Chamber of Mines of South Africa
- Kobexindo Tractors - Indoneisa
- Chettinad Cement Corporation Ltd - India
- Indogreen Group - Indonesia
- Salva Resources Pvt Ltd - India
- Star Paper Mills Limited - India
- Bangladesh Power Developement Board
- Leighton Contractors Pty Ltd - Australia
- Timah Investasi Mineral - Indoneisa
- Anglo American - United Kingdom
- Kaltim Prima Coal - Indonesia
- Trasteel International SA, Italy
- The Treasury - Australian Government
- India Bulls Power Limited - India
- Indonesian Coal Mining Association
- Kideco Jaya Agung - Indonesia
- Vedanta Resources Plc - India
- Thiess Contractors Indonesia
- Port Waratah Coal Services - Australia
- Karbindo Abesyapradhi - Indoneisa
- Electricity Generating Authority of Thailand
- Karaikal Port Pvt Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- Oldendorff Carriers - Singapore
- Barasentosa Lestari - Indonesia
- Therma Luzon, Inc, Philippines
- Independent Power Producers Association of India
- Medco Energi Mining Internasional
- Indika Energy - Indonesia
- VISA Power Limited - India
- Eastern Energy - Thailand
- Savvy Resources Ltd - HongKong
- Cement Manufacturers Association - India
- Australian Commodity Traders Exchange
- Edison Trading Spa - Italy
- Jaiprakash Power Ventures ltd
- Commonwealth Bank - Australia
- Global Coal Blending Company Limited - Australia
- Bhushan Steel Limited - India
- Kepco SPC Power Corporation, Philippines
- Carbofer General Trading SA - India
- Orica Mining Services - Indonesia
- McConnell Dowell - Australia
- Vizag Seaport Private Limited - India
- Uttam Galva Steels Limited - India
- Electricity Authority, New Zealand
- Tamil Nadu electricity Board
- Eastern Coal Council - USA
- Marubeni Corporation - India
- Neyveli Lignite Corporation Ltd, - India
- ASAPP Information Group - India
- Kohat Cement Company Ltd. - Pakistan
- Indian Oil Corporation Limited
- Wilmar Investment Holdings
- Bukit Makmur.PT - Indonesia
- Orica Australia Pty. Ltd.
- Alfred C Toepfer International GmbH - Germany
- GMR Energy Limited - India
- Semirara Mining Corp, Philippines
- Posco Energy - South Korea
- Kartika Selabumi Mining - Indonesia
- Central Electricity Authority - India
- Meralco Power Generation, Philippines
- Coal and Oil Company - UAE
- Vijayanagar Sugar Pvt Ltd - India
- Sojitz Corporation - Japan
- Altura Mining Limited, Indonesia
- Rashtriya Ispat Nigam Limited - India
- Meenaskhi Energy Private Limited - India
- Sical Logistics Limited - India
- Interocean Group of Companies - India
- Riau Bara Harum - Indonesia
- SMG Consultants - Indonesia
- The University of Queensland
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indian Energy Exchange, India
- Georgia Ports Authority, United States
- Romanian Commodities Exchange
- Bharathi Cement Corporation - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Metalloyd Limited - United Kingdom
- ICICI Bank Limited - India
- Attock Cement Pakistan Limited
- Pipit Mutiara Jaya. PT, Indonesia
- Heidelberg Cement - Germany
- Aboitiz Power Corporation - Philippines
- Coastal Gujarat Power Limited - India
- Parliament of New Zealand
- Semirara Mining and Power Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- Siam City Cement PLC, Thailand
- Toyota Tsusho Corporation, Japan
- Price Waterhouse Coopers - Russia
- Simpson Spence & Young - Indonesia
- Straits Asia Resources Limited - Singapore
- GAC Shipping (India) Pvt Ltd
- Gujarat Mineral Development Corp Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- MS Steel International - UAE
- Merrill Lynch Commodities Europe
- Mjunction Services Limited - India
- LBH Netherlands Bv - Netherlands
- Mercuria Energy - Indonesia
- Australian Coal Association
- Iligan Light & Power Inc, Philippines
- CNBM International Corporation - China
- Dalmia Cement Bharat India
- TeaM Sual Corporation - Philippines
- Bhatia International Limited - India
- The State Trading Corporation of India Ltd
- OPG Power Generation Pvt Ltd - India
- Planning Commission, India
- GN Power Mariveles Coal Plant, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Bhoruka Overseas - Indonesia
- Tata Chemicals Ltd - India
- Aditya Birla Group - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kumho Petrochemical, South Korea
- Energy Link Ltd, New Zealand
- Billiton Holdings Pty Ltd - Australia
- PowerSource Philippines DevCo
- Standard Chartered Bank - UAE
- Offshore Bulk Terminal Pte Ltd, Singapore
- International Coal Ventures Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Manunggal Multi Energi - Indonesia
- Directorate Of Revenue Intelligence - India
- Central Java Power - Indonesia
- Minerals Council of Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Pendopo Energi Batubara - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Latin American Coal - Colombia
- IHS Mccloskey Coal Group - USA
- Jorong Barutama Greston.PT - Indonesia
- SN Aboitiz Power Inc, Philippines
- Makarim & Taira - Indonesia
- San Jose City I Power Corp, Philippines
- Krishnapatnam Port Company Ltd. - India
- Intertek Mineral Services - Indonesia
- Africa Commodities Group - South Africa
- Binh Thuan Hamico - Vietnam
- Formosa Plastics Group - Taiwan
- Sinarmas Energy and Mining - Indonesia
- Sindya Power Generating Company Private Ltd
- Gujarat Sidhee Cement - India
- Jindal Steel & Power Ltd - India
- Borneo Indobara - Indonesia
- Siam City Cement - Thailand
- Sree Jayajothi Cements Limited - India
- Samtan Co., Ltd - South Korea
- PNOC Exploration Corporation - Philippines
- Parry Sugars Refinery, India
- Energy Development Corp, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Ceylon Electricity Board - Sri Lanka
- Ministry of Mines - Canada
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Agrawal Coal Company - India
- London Commodity Brokers - England
- Ministry of Transport, Egypt
- Madhucon Powers Ltd - India
- Ind-Barath Power Infra Limited - India
- Antam Resourcindo - Indonesia
- Larsen & Toubro Limited - India
- Baramulti Group, Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Global Business Power Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- Malabar Cements Ltd - India
- Bayan Resources Tbk. - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Lanco Infratech Ltd - India
- Wood Mackenzie - Singapore
- AsiaOL BioFuels Corp., Philippines
- Kapuas Tunggal Persada - Indonesia
- Economic Council, Georgia
- Grasim Industreis Ltd - India
- Rio Tinto Coal - Australia
- PTC India Limited - India
- Thai Mozambique Logistica
- SMC Global Power, Philippines
- Sakthi Sugars Limited - India
- Essar Steel Hazira Ltd - India
- Petron Corporation, Philippines
- GVK Power & Infra Limited - India
- Videocon Industries ltd - India
- Ambuja Cements Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Singapore Mercantile Exchange
- Bahari Cakrawala Sebuku - Indonesia
- Sarangani Energy Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Holcim Trading Pte Ltd - Singapore
- Xindia Steels Limited - India
- Renaissance Capital - South Africa
- Power Finance Corporation Ltd., India
- Mintek Dendrill Indonesia
- Bukit Baiduri Energy - Indonesia
- Miang Besar Coal Terminal - Indonesia
- IEA Clean Coal Centre - UK
- New Zealand Coal & Carbon
- CIMB Investment Bank - Malaysia
- Banpu Public Company Limited - Thailand
- Global Green Power PLC Corporation, Philippines
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