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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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- Holcim Trading Pte Ltd - Singapore
- Australian Commodity Traders Exchange
- Straits Asia Resources Limited - Singapore
- Coalindo Energy - Indonesia
- Carbofer General Trading SA - India
- Vedanta Resources Plc - India
- Eastern Energy - Thailand
- IEA Clean Coal Centre - UK
- Economic Council, Georgia
- SMC Global Power, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Alfred C Toepfer International GmbH - Germany
- Australian Coal Association
- PNOC Exploration Corporation - Philippines
- Kaltim Prima Coal - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Tamil Nadu electricity Board
- Sindya Power Generating Company Private Ltd
- Semirara Mining Corp, Philippines
- MS Steel International - UAE
- Karbindo Abesyapradhi - Indoneisa
- Xindia Steels Limited - India
- GVK Power & Infra Limited - India
- Wood Mackenzie - Singapore
- Kepco SPC Power Corporation, Philippines
- Commonwealth Bank - Australia
- The State Trading Corporation of India Ltd
- Lanco Infratech Ltd - India
- Coastal Gujarat Power Limited - India
- London Commodity Brokers - England
- Orica Mining Services - Indonesia
- OPG Power Generation Pvt Ltd - India
- Romanian Commodities Exchange
- Eastern Coal Council - USA
- Singapore Mercantile Exchange
- Sarangani Energy Corporation, Philippines
- Jaiprakash Power Ventures ltd
- Minerals Council of Australia
- Metalloyd Limited - United Kingdom
- Antam Resourcindo - Indonesia
- Videocon Industries ltd - India
- Attock Cement Pakistan Limited
- Banpu Public Company Limited - Thailand
- Jorong Barutama Greston.PT - Indonesia
- Chettinad Cement Corporation Ltd - India
- Parry Sugars Refinery, India
- GMR Energy Limited - India
- CIMB Investment Bank - Malaysia
- TNB Fuel Sdn Bhd - Malaysia
- Deloitte Consulting - India
- Kideco Jaya Agung - Indonesia
- Manunggal Multi Energi - Indonesia
- Binh Thuan Hamico - Vietnam
- Bukit Makmur.PT - Indonesia
- TeaM Sual Corporation - Philippines
- PetroVietnam Power Coal Import and Supply Company
- Energy Development Corp, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Wilmar Investment Holdings
- International Coal Ventures Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- GN Power Mariveles Coal Plant, Philippines
- Ministry of Transport, Egypt
- Africa Commodities Group - South Africa
- Goldman Sachs - Singapore
- Kumho Petrochemical, South Korea
- Parliament of New Zealand
- Energy Link Ltd, New Zealand
- Power Finance Corporation Ltd., India
- India Bulls Power Limited - India
- Heidelberg Cement - Germany
- Neyveli Lignite Corporation Ltd, - India
- Uttam Galva Steels Limited - India
- Bukit Baiduri Energy - Indonesia
- Ind-Barath Power Infra Limited - India
- Ceylon Electricity Board - Sri Lanka
- Indika Energy - Indonesia
- Bharathi Cement Corporation - India
- Grasim Industreis Ltd - India
- Therma Luzon, Inc, Philippines
- Bangladesh Power Developement Board
- Leighton Contractors Pty Ltd - Australia
- Cement Manufacturers Association - India
- CNBM International Corporation - China
- San Jose City I Power Corp, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Offshore Bulk Terminal Pte Ltd, Singapore
- Meralco Power Generation, Philippines
- Iligan Light & Power Inc, Philippines
- Indian Oil Corporation Limited
- Chamber of Mines of South Africa
- Coal and Oil Company - UAE
- Bulk Trading Sa - Switzerland
- Merrill Lynch Commodities Europe
- Sakthi Sugars Limited - India
- Central Java Power - Indonesia
- Samtan Co., Ltd - South Korea
- Orica Australia Pty. Ltd.
- Price Waterhouse Coopers - Russia
- Oldendorff Carriers - Singapore
- Interocean Group of Companies - India
- Ministry of Finance - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Latin American Coal - Colombia
- Riau Bara Harum - Indonesia
- Mercuria Energy - Indonesia
- Posco Energy - South Korea
- European Bulk Services B.V. - Netherlands
- The University of Queensland
- Vijayanagar Sugar Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Agrawal Coal Company - India
- Georgia Ports Authority, United States
- Mjunction Services Limited - India
- Central Electricity Authority - India
- Timah Investasi Mineral - Indoneisa
- Ambuja Cements Ltd - India
- Indogreen Group - Indonesia
- Formosa Plastics Group - Taiwan
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Port Waratah Coal Services - Australia
- Bhatia International Limited - India
- Makarim & Taira - Indonesia
- Krishnapatnam Port Company Ltd. - India
- LBH Netherlands Bv - Netherlands
- PTC India Limited - India
- Aboitiz Power Corporation - Philippines
- SN Aboitiz Power Inc, Philippines
- Renaissance Capital - South Africa
- Karaikal Port Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Rio Tinto Coal - Australia
- Planning Commission, India
- Marubeni Corporation - India
- Mercator Lines Limited - India
- Essar Steel Hazira Ltd - India
- Anglo American - United Kingdom
- The Treasury - Australian Government
- Malabar Cements Ltd - India
- PowerSource Philippines DevCo
- Bhoruka Overseas - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Kobexindo Tractors - Indoneisa
- Aditya Birla Group - India
- Bhushan Steel Limited - India
- Barasentosa Lestari - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Vizag Seaport Private Limited - India
- Maheswari Brothers Coal Limited - India
- Salva Resources Pvt Ltd - India
- McConnell Dowell - Australia
- Electricity Authority, New Zealand
- Tata Chemicals Ltd - India
- Mintek Dendrill Indonesia
- GAC Shipping (India) Pvt Ltd
- Petrochimia International Co. Ltd.- Taiwan
- Siam City Cement PLC, Thailand
- Edison Trading Spa - Italy
- Pendopo Energi Batubara - Indonesia
- Siam City Cement - Thailand
- Bayan Resources Tbk. - Indonesia
- Global Coal Blending Company Limited - Australia
- Thai Mozambique Logistica
- Altura Mining Limited, Indonesia
- Thiess Contractors Indonesia
- Simpson Spence & Young - Indonesia
- Cigading International Bulk Terminal - Indonesia
- IHS Mccloskey Coal Group - USA
- Trasteel International SA, Italy
- Larsen & Toubro Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Electricity Generating Authority of Thailand
- Kartika Selabumi Mining - Indonesia
- Petron Corporation, Philippines
- Ministry of Mines - Canada
- Independent Power Producers Association of India
- AsiaOL BioFuels Corp., Philippines
- SMG Consultants - Indonesia
- VISA Power Limited - India
- Meenaskhi Energy Private Limited - India
- Toyota Tsusho Corporation, Japan
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- South Luzon Thermal Energy Corporation
- Medco Energi Mining Internasional
- Madhucon Powers Ltd - India
- Jindal Steel & Power Ltd - India
- Global Business Power Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sojitz Corporation - Japan
- Indian Energy Exchange, India
- Sinarmas Energy and Mining - Indonesia
- Indo Tambangraya Megah - Indonesia
- Borneo Indobara - Indonesia
- Globalindo Alam Lestari - Indonesia
- Gujarat Sidhee Cement - India
- Dalmia Cement Bharat India
- White Energy Company Limited
- Standard Chartered Bank - UAE
- Indonesian Coal Mining Association
- Kalimantan Lumbung Energi - Indonesia
- Savvy Resources Ltd - HongKong
- Kohat Cement Company Ltd. - Pakistan
- ICICI Bank Limited - India
- Rashtriya Ispat Nigam Limited - India
- New Zealand Coal & Carbon
- Star Paper Mills Limited - India
- Global Green Power PLC Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Sree Jayajothi Cements Limited - India
- ASAPP Information Group - India
- Intertek Mineral Services - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Semirara Mining and Power Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- Asmin Koalindo Tuhup - Indonesia
- Baramulti Group, Indonesia
- Sical Logistics Limited - India
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