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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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Wednesday, 22 February 12
RAW COMMODITY EXPORT BAN SPARKS SMELTER BUILDING BOOM IN INDONESIA ANTARA / THE JAKARTA GLOBE
Antara / The Jakarta Globe reported that, as the government gears up to ban all exports of unprocessed commodities, Indonesia will see 12 new ...
Tuesday, 21 February 12
THREAT ISSUED ON MINERAL FIRMS AS GOVT PLANS EXPORT BAN - THE JAKARTA POST
The Jakarta Post, one of the leading english news papaer in Indonesia reported that, the government has given mineral producers three months to subm ...
Monday, 20 February 12
WEEKLY DRY MARKET OVERVIEW - MARIA BERTZELETOU
The dry market experienced one more disappointing week with tonnage oversupply and limited cargo demand that pushes earnings for shipping players to ...
Monday, 20 February 12
JATENERGY SECURES FIRST 8000-TONNE COAL SALES CONTRACT FOR JONGKANG MINES
8000-tonne contract with Singaporean buyer signed for March delivery
50% down payment due in five working days
Production continues at both Jongka ...
Monday, 20 February 12
DIAN SWASTATIKA ACQUIRES ANDALAN LESTARI - INSIDER STORIES
Insider Stories reported that, PT Dian Swastatika Sentosa Tbk (DSSA), controlled by Fuganto Widjaja, son of Indra Widjaja, reported a 99.83% takeove ...
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- SMG Consultants - Indonesia
- Globalindo Alam Lestari - Indonesia
- Bhatia International Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Minerals Council of Australia
- Australian Commodity Traders Exchange
- Posco Energy - South Korea
- IEA Clean Coal Centre - UK
- Baramulti Group, Indonesia
- Salva Resources Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- Tata Chemicals Ltd - India
- Latin American Coal - Colombia
- Maharashtra Electricity Regulatory Commission - India
- Star Paper Mills Limited - India
- Merrill Lynch Commodities Europe
- Meenaskhi Energy Private Limited - India
- South Luzon Thermal Energy Corporation
- Uttam Galva Steels Limited - India
- Coal and Oil Company - UAE
- Coastal Gujarat Power Limited - India
- Antam Resourcindo - Indonesia
- Petron Corporation, Philippines
- Thai Mozambique Logistica
- Independent Power Producers Association of India
- Interocean Group of Companies - India
- The University of Queensland
- Chamber of Mines of South Africa
- Singapore Mercantile Exchange
- Bahari Cakrawala Sebuku - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indian Oil Corporation Limited
- Bukit Asam (Persero) Tbk - Indonesia
- San Jose City I Power Corp, Philippines
- Vedanta Resources Plc - India
- Sree Jayajothi Cements Limited - India
- Straits Asia Resources Limited - Singapore
- Heidelberg Cement - Germany
- Kepco SPC Power Corporation, Philippines
- PTC India Limited - India
- International Coal Ventures Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- Binh Thuan Hamico - Vietnam
- PNOC Exploration Corporation - Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- Parliament of New Zealand
- Bukit Makmur.PT - Indonesia
- Aboitiz Power Corporation - Philippines
- Sakthi Sugars Limited - India
- SN Aboitiz Power Inc, Philippines
- Siam City Cement - Thailand
- Energy Development Corp, Philippines
- Directorate General of MIneral and Coal - Indonesia
- London Commodity Brokers - England
- Wilmar Investment Holdings
- Goldman Sachs - Singapore
- Ministry of Transport, Egypt
- Sojitz Corporation - Japan
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Australian Coal Association
- TNB Fuel Sdn Bhd - Malaysia
- Sindya Power Generating Company Private Ltd
- European Bulk Services B.V. - Netherlands
- Global Business Power Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Holcim Trading Pte Ltd - Singapore
- Attock Cement Pakistan Limited
- Orica Mining Services - Indonesia
- Karaikal Port Pvt Ltd - India
- Orica Australia Pty. Ltd.
- Savvy Resources Ltd - HongKong
- Eastern Coal Council - USA
- The Treasury - Australian Government
- Jaiprakash Power Ventures ltd
- Miang Besar Coal Terminal - Indonesia
- Coalindo Energy - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- White Energy Company Limited
- Ceylon Electricity Board - Sri Lanka
- Tamil Nadu electricity Board
- Edison Trading Spa - Italy
- Global Coal Blending Company Limited - Australia
- India Bulls Power Limited - India
- Electricity Authority, New Zealand
- Medco Energi Mining Internasional
- Standard Chartered Bank - UAE
- GMR Energy Limited - India
- Intertek Mineral Services - Indonesia
- Toyota Tsusho Corporation, Japan
- Leighton Contractors Pty Ltd - Australia
- Metalloyd Limited - United Kingdom
- Indo Tambangraya Megah - Indonesia
- Ministry of Finance - Indonesia
- Directorate Of Revenue Intelligence - India
- Semirara Mining Corp, Philippines
- Parry Sugars Refinery, India
- Indogreen Group - Indonesia
- CNBM International Corporation - China
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bayan Resources Tbk. - Indonesia
- Anglo American - United Kingdom
- Indian Energy Exchange, India
- Port Waratah Coal Services - Australia
- Marubeni Corporation - India
- Kumho Petrochemical, South Korea
- ICICI Bank Limited - India
- Central Java Power - Indonesia
- CIMB Investment Bank - Malaysia
- Bhushan Steel Limited - India
- Kartika Selabumi Mining - Indonesia
- Electricity Generating Authority of Thailand
- Gujarat Sidhee Cement - India
- VISA Power Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Eastern Energy - Thailand
- Makarim & Taira - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Malabar Cements Ltd - India
- Price Waterhouse Coopers - Russia
- AsiaOL BioFuels Corp., Philippines
- Sical Logistics Limited - India
- Alfred C Toepfer International GmbH - Germany
- Asmin Koalindo Tuhup - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kideco Jaya Agung - Indonesia
- New Zealand Coal & Carbon
- LBH Netherlands Bv - Netherlands
- Jorong Barutama Greston.PT - Indonesia
- Dalmia Cement Bharat India
- Romanian Commodities Exchange
- Xindia Steels Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Altura Mining Limited, Indonesia
- GVK Power & Infra Limited - India
- Vizag Seaport Private Limited - India
- Madhucon Powers Ltd - India
- Sarangani Energy Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- Videocon Industries ltd - India
- Indika Energy - Indonesia
- Manunggal Multi Energi - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Banpu Public Company Limited - Thailand
- Aditya Birla Group - India
- Bulk Trading Sa - Switzerland
- Cigading International Bulk Terminal - Indonesia
- Therma Luzon, Inc, Philippines
- Carbofer General Trading SA - India
- GAC Shipping (India) Pvt Ltd
- Timah Investasi Mineral - Indoneisa
- Barasentosa Lestari - Indonesia
- Commonwealth Bank - Australia
- Bangladesh Power Developement Board
- Mjunction Services Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Mercuria Energy - Indonesia
- Power Finance Corporation Ltd., India
- Pipit Mutiara Jaya. PT, Indonesia
- Samtan Co., Ltd - South Korea
- Cement Manufacturers Association - India
- Riau Bara Harum - Indonesia
- Siam City Cement PLC, Thailand
- Economic Council, Georgia
- Karbindo Abesyapradhi - Indoneisa
- ASAPP Information Group - India
- Borneo Indobara - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Grasim Industreis Ltd - India
- MS Steel International - UAE
- Gujarat Mineral Development Corp Ltd - India
- Trasteel International SA, Italy
- Bharathi Cement Corporation - India
- Oldendorff Carriers - Singapore
- Georgia Ports Authority, United States
- SMC Global Power, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- The State Trading Corporation of India Ltd
- Mercator Lines Limited - India
- Mintek Dendrill Indonesia
- Planning Commission, India
- Krishnapatnam Port Company Ltd. - India
- Kohat Cement Company Ltd. - Pakistan
- Larsen & Toubro Limited - India
- Bukit Baiduri Energy - Indonesia
- Renaissance Capital - South Africa
- McConnell Dowell - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Lanco Infratech Ltd - India
- Jindal Steel & Power Ltd - India
- Ministry of Mines - Canada
- Ambuja Cements Ltd - India
- Energy Link Ltd, New Zealand
- Global Green Power PLC Corporation, Philippines
- Indonesian Coal Mining Association
- Kaltim Prima Coal - Indonesia
- Meralco Power Generation, Philippines
- Central Electricity Authority - India
- Bhoruka Overseas - Indonesia
- Essar Steel Hazira Ltd - India
- OPG Power Generation Pvt Ltd - India
- Deloitte Consulting - India
- Simpson Spence & Young - Indonesia
- Rio Tinto Coal - Australia
- PowerSource Philippines DevCo
- TeaM Sual Corporation - Philippines
- Agrawal Coal Company - India
- Wood Mackenzie - Singapore
- Africa Commodities Group - South Africa
- IHS Mccloskey Coal Group - USA
- Thiess Contractors Indonesia
- Maheswari Brothers Coal Limited - India
- Kapuas Tunggal Persada - Indonesia
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