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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, 27 February 12
INDONESIAN COAL EXPORTS TO CHINA DROPS 39.76 PERCENT IN JANUARY 2012
COALspot.com: Indonesia, the world largest coal exporter, shipped 28.21* mln mt of coal in January 2012, slightly lower than its December 2011 ...
Monday, 27 February 12
WEEKLY DRY MARKET OVERVIEW - MARIA BERTZELETOU, HELLENIC SHIPPING
The pessimism in the dry market persists with the Baltic Dry Index still trying to find a steady pace of growth and average time charter earnings fo ...
Sunday, 26 February 12
THE FREIGHT RATES FOR INDONESIA TO INDIA IS LIKELY TO BE FIRM FOR NEXT 2/3 WEEKS - VISTAAR
COALspot.com – “There was not much change in the BDI and other indices this week except for the Panamax which was down by 11.91 pc ...
Friday, 24 February 12
DRY BULK MARKET POSTS FIRST REBOUND IN A WEEK - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
As was expected since mid-week, the dry bulk market's benchmark, the BDI (Baltic Dry Index) has managed to put a stop in a 6-day losing rally, endi ...
Thursday, 23 February 12
2.5 PANAMAX VESSELS PER AVAILABLE CARGO FOR MARCH DATES - FEARN BULK
Handy
Another depressing week for Supras in both basins. Lack of fresh business and over-supply of tonnage in the Atlantic pushed rates south. Cont ...
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Showing 4836 to 4840 news of total 6871 |
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- Mintek Dendrill Indonesia
- Borneo Indobara - Indonesia
- Therma Luzon, Inc, Philippines
- Grasim Industreis Ltd - India
- Kobexindo Tractors - Indoneisa
- Coastal Gujarat Power Limited - India
- Bangladesh Power Developement Board
- Parry Sugars Refinery, India
- Sinarmas Energy and Mining - Indonesia
- Miang Besar Coal Terminal - Indonesia
- CIMB Investment Bank - Malaysia
- Deloitte Consulting - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kideco Jaya Agung - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Bayan Resources Tbk. - Indonesia
- Carbofer General Trading SA - India
- Mercuria Energy - Indonesia
- Vizag Seaport Private Limited - India
- Thiess Contractors Indonesia
- Australian Commodity Traders Exchange
- Bukit Asam (Persero) Tbk - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Bank of Tokyo Mitsubishi UFJ Ltd
- Leighton Contractors Pty Ltd - Australia
- Kohat Cement Company Ltd. - Pakistan
- McConnell Dowell - Australia
- Global Business Power Corporation, Philippines
- The Treasury - Australian Government
- ICICI Bank Limited - India
- White Energy Company Limited
- Uttam Galva Steels Limited - India
- Directorate Of Revenue Intelligence - India
- Sical Logistics Limited - India
- Salva Resources Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- International Coal Ventures Pvt Ltd - India
- Wilmar Investment Holdings
- Global Green Power PLC Corporation, Philippines
- Economic Council, Georgia
- Star Paper Mills Limited - India
- Bhushan Steel Limited - India
- GVK Power & Infra Limited - India
- Barasentosa Lestari - Indonesia
- Chettinad Cement Corporation Ltd - India
- Malabar Cements Ltd - India
- Goldman Sachs - Singapore
- Vijayanagar Sugar Pvt Ltd - India
- Bhatia International Limited - India
- Savvy Resources Ltd - HongKong
- Africa Commodities Group - South Africa
- Pendopo Energi Batubara - Indonesia
- Bharathi Cement Corporation - India
- Medco Energi Mining Internasional
- Bukit Makmur.PT - Indonesia
- Karaikal Port Pvt Ltd - India
- Antam Resourcindo - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Rashtriya Ispat Nigam Limited - India
- Ministry of Transport, Egypt
- San Jose City I Power Corp, Philippines
- Sarangani Energy Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Trasteel International SA, Italy
- Tata Chemicals Ltd - India
- Timah Investasi Mineral - Indoneisa
- London Commodity Brokers - England
- PNOC Exploration Corporation - Philippines
- Electricity Generating Authority of Thailand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Xindia Steels Limited - India
- Gujarat Electricity Regulatory Commission - India
- New Zealand Coal & Carbon
- The State Trading Corporation of India Ltd
- Central Java Power - Indonesia
- Indian Energy Exchange, India
- TNB Fuel Sdn Bhd - Malaysia
- Singapore Mercantile Exchange
- Dalmia Cement Bharat India
- Gujarat Mineral Development Corp Ltd - India
- Aboitiz Power Corporation - Philippines
- Ambuja Cements Ltd - India
- Bhoruka Overseas - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Billiton Holdings Pty Ltd - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- Anglo American - United Kingdom
- Price Waterhouse Coopers - Russia
- Globalindo Alam Lestari - Indonesia
- LBH Netherlands Bv - Netherlands
- Samtan Co., Ltd - South Korea
- PowerSource Philippines DevCo
- Indika Energy - Indonesia
- India Bulls Power Limited - India
- SMG Consultants - Indonesia
- Heidelberg Cement - Germany
- Kapuas Tunggal Persada - Indonesia
- Indonesian Coal Mining Association
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Alfred C Toepfer International GmbH - Germany
- Merrill Lynch Commodities Europe
- Directorate General of MIneral and Coal - Indonesia
- Iligan Light & Power Inc, Philippines
- Essar Steel Hazira Ltd - India
- Indo Tambangraya Megah - Indonesia
- SMC Global Power, Philippines
- Standard Chartered Bank - UAE
- European Bulk Services B.V. - Netherlands
- AsiaOL BioFuels Corp., Philippines
- Semirara Mining Corp, Philippines
- Krishnapatnam Port Company Ltd. - India
- Aditya Birla Group - India
- Maheswari Brothers Coal Limited - India
- Intertek Mineral Services - Indonesia
- Manunggal Multi Energi - Indonesia
- Baramulti Group, Indonesia
- Riau Bara Harum - Indonesia
- Eastern Coal Council - USA
- Kalimantan Lumbung Energi - Indonesia
- Straits Asia Resources Limited - Singapore
- VISA Power Limited - India
- TeaM Sual Corporation - Philippines
- Madhucon Powers Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Lanco Infratech Ltd - India
- Renaissance Capital - South Africa
- Thai Mozambique Logistica
- Kaltim Prima Coal - Indonesia
- Agrawal Coal Company - India
- Metalloyd Limited - United Kingdom
- Larsen & Toubro Limited - India
- Minerals Council of Australia
- Neyveli Lignite Corporation Ltd, - India
- Coalindo Energy - Indonesia
- Sindya Power Generating Company Private Ltd
- Kartika Selabumi Mining - Indonesia
- Vedanta Resources Plc - India
- Commonwealth Bank - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Cement Manufacturers Association - India
- Port Waratah Coal Services - Australia
- Banpu Public Company Limited - Thailand
- SN Aboitiz Power Inc, Philippines
- Attock Cement Pakistan Limited
- Bulk Trading Sa - Switzerland
- Kumho Petrochemical, South Korea
- Sree Jayajothi Cements Limited - India
- Jindal Steel & Power Ltd - India
- Mjunction Services Limited - India
- Orica Australia Pty. Ltd.
- IEA Clean Coal Centre - UK
- Australian Coal Association
- Orica Mining Services - Indonesia
- Interocean Group of Companies - India
- Indogreen Group - Indonesia
- Electricity Authority, New Zealand
- Siam City Cement PLC, Thailand
- Sojitz Corporation - Japan
- Georgia Ports Authority, United States
- Tamil Nadu electricity Board
- South Luzon Thermal Energy Corporation
- Makarim & Taira - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Simpson Spence & Young - Indonesia
- Ind-Barath Power Infra Limited - India
- Power Finance Corporation Ltd., India
- GMR Energy Limited - India
- Energy Development Corp, Philippines
- Oldendorff Carriers - Singapore
- CNBM International Corporation - China
- Bukit Baiduri Energy - Indonesia
- Coal and Oil Company - UAE
- Jaiprakash Power Ventures ltd
- Chamber of Mines of South Africa
- Gujarat Sidhee Cement - India
- OPG Power Generation Pvt Ltd - India
- Planning Commission, India
- Formosa Plastics Group - Taiwan
- IHS Mccloskey Coal Group - USA
- Marubeni Corporation - India
- Romanian Commodities Exchange
- Semirara Mining and Power Corporation, Philippines
- Indian Oil Corporation Limited
- Sakthi Sugars Limited - India
- Meenaskhi Energy Private Limited - India
- Edison Trading Spa - Italy
- Ministry of Mines - Canada
- Independent Power Producers Association of India
- Central Electricity Authority - India
- Energy Link Ltd, New Zealand
- MS Steel International - UAE
- Eastern Energy - Thailand
- Videocon Industries ltd - India
- Rio Tinto Coal - Australia
- Petron Corporation, Philippines
- The University of Queensland
- Parliament of New Zealand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Toyota Tsusho Corporation, Japan
- PTC India Limited - India
- Posco Energy - South Korea
- Kepco SPC Power Corporation, Philippines
- Meralco Power Generation, Philippines
- Altura Mining Limited, Indonesia
- Wood Mackenzie - Singapore
- Jorong Barutama Greston.PT - Indonesia
- Cigading International Bulk Terminal - Indonesia
- ASAPP Information Group - India
- Latin American Coal - Colombia
- Mercator Lines Limited - India
- Global Coal Blending Company Limited - Australia
- Ceylon Electricity Board - Sri Lanka
- Siam City Cement - Thailand
- Ministry of Finance - Indonesia
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