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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, 20 February 12
COAL BOOM AND ENVIRONMENTAL CONCERN - SUNIL K KUMBHAT
COALspot.com - The dawn of the 21st century has seen a shift in the world's commercial balance of power, with the dominance of the US, Europe and J ...
Sunday, 19 February 12
THE SPOT FIXTURE RATES WERE REPORTED AT HIGH LEVELS - VISTAAR
COALspot.com - "The markets seems to holding back this week appears the momentum which picked up last week may slow down" - Capt. Reddy of ...
Friday, 17 February 12
COLOMBIA COAL PRODUCTION, EXPORTS JUMP IN 2011: GOVT - COLOMBIA REPORTS
Colombia Reports reported that, colombia's coal production jumped 15.4% in 2011 to 85.8 million tonnes versus the previous year while exports rose ...
Thursday, 16 February 12
GEARING UP FOR THE EMERGING OIL & GAS OPPORTUNITIES IN MYANMAR
Press Release - Myanmar Ministry of Energy and Centre for Management Technology (CMT) to Co-host MOGP (Myanmar Oil, Gas & Power) Summit on 28 - ...
Wednesday, 15 February 12
HBA FOR FEB 2012, CLIMBS 2.09 PERCENT AND REACHED US$ 111.58 PER TON
COALspot.com - The Indonesian coal reference price for February climbs 2.09 percent to US$111.58 per ton after losing past three months. ...
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- Kaltim Prima Coal - Indonesia
- Electricity Authority, New Zealand
- Kideco Jaya Agung - Indonesia
- Deloitte Consulting - India
- IEA Clean Coal Centre - UK
- Billiton Holdings Pty Ltd - Australia
- Parliament of New Zealand
- CNBM International Corporation - China
- Energy Link Ltd, New Zealand
- Commonwealth Bank - Australia
- Indika Energy - Indonesia
- Kepco SPC Power Corporation, Philippines
- Bharathi Cement Corporation - India
- Directorate General of MIneral and Coal - Indonesia
- Eastern Energy - Thailand
- Maheswari Brothers Coal Limited - India
- AsiaOL BioFuels Corp., Philippines
- Krishnapatnam Port Company Ltd. - India
- Karbindo Abesyapradhi - Indoneisa
- Directorate Of Revenue Intelligence - India
- Sindya Power Generating Company Private Ltd
- Semirara Mining and Power Corporation, Philippines
- Bhatia International Limited - India
- Leighton Contractors Pty Ltd - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Siam City Cement - Thailand
- Ambuja Cements Ltd - India
- Straits Asia Resources Limited - Singapore
- Iligan Light & Power Inc, Philippines
- Metalloyd Limited - United Kingdom
- Renaissance Capital - South Africa
- Parry Sugars Refinery, India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Riau Bara Harum - Indonesia
- GMR Energy Limited - India
- Aboitiz Power Corporation - Philippines
- Africa Commodities Group - South Africa
- Global Coal Blending Company Limited - Australia
- Toyota Tsusho Corporation, Japan
- GN Power Mariveles Coal Plant, Philippines
- Global Business Power Corporation, Philippines
- Thai Mozambique Logistica
- Central Java Power - Indonesia
- Eastern Coal Council - USA
- Kobexindo Tractors - Indoneisa
- Chamber of Mines of South Africa
- Price Waterhouse Coopers - Russia
- Barasentosa Lestari - Indonesia
- Goldman Sachs - Singapore
- Minerals Council of Australia
- Borneo Indobara - Indonesia
- MS Steel International - UAE
- Sarangani Energy Corporation, Philippines
- Singapore Mercantile Exchange
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Heidelberg Cement - Germany
- Simpson Spence & Young - Indonesia
- Therma Luzon, Inc, Philippines
- Mercator Lines Limited - India
- Vedanta Resources Plc - India
- Indo Tambangraya Megah - Indonesia
- Kumho Petrochemical, South Korea
- Anglo American - United Kingdom
- Bahari Cakrawala Sebuku - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Madhucon Powers Ltd - India
- Medco Energi Mining Internasional
- Salva Resources Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- SMC Global Power, Philippines
- Xindia Steels Limited - India
- Interocean Group of Companies - India
- India Bulls Power Limited - India
- Rio Tinto Coal - Australia
- Binh Thuan Hamico - Vietnam
- Star Paper Mills Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Miang Besar Coal Terminal - Indonesia
- ICICI Bank Limited - India
- Ind-Barath Power Infra Limited - India
- Indian Oil Corporation Limited
- CIMB Investment Bank - Malaysia
- Economic Council, Georgia
- Marubeni Corporation - India
- Georgia Ports Authority, United States
- Wood Mackenzie - Singapore
- The University of Queensland
- Pipit Mutiara Jaya. PT, Indonesia
- Globalindo Alam Lestari - Indonesia
- Thiess Contractors Indonesia
- Ministry of Finance - Indonesia
- Chettinad Cement Corporation Ltd - India
- Bhoruka Overseas - Indonesia
- Vizag Seaport Private Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kapuas Tunggal Persada - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Coal and Oil Company - UAE
- VISA Power Limited - India
- Edison Trading Spa - Italy
- TNB Fuel Sdn Bhd - Malaysia
- Karaikal Port Pvt Ltd - India
- Central Electricity Authority - India
- White Energy Company Limited
- Baramulti Group, Indonesia
- Dalmia Cement Bharat India
- Sical Logistics Limited - India
- Indian Energy Exchange, India
- Tata Chemicals Ltd - India
- South Luzon Thermal Energy Corporation
- Pendopo Energi Batubara - Indonesia
- Bukit Makmur.PT - Indonesia
- The State Trading Corporation of India Ltd
- Mjunction Services Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Mercuria Energy - Indonesia
- PNOC Exploration Corporation - Philippines
- LBH Netherlands Bv - Netherlands
- Timah Investasi Mineral - Indoneisa
- PowerSource Philippines DevCo
- Romanian Commodities Exchange
- Wilmar Investment Holdings
- Meralco Power Generation, Philippines
- Bangladesh Power Developement Board
- Sinarmas Energy and Mining - Indonesia
- Posco Energy - South Korea
- Gujarat Sidhee Cement - India
- Port Waratah Coal Services - Australia
- Semirara Mining Corp, Philippines
- Power Finance Corporation Ltd., India
- The Treasury - Australian Government
- PTC India Limited - India
- Antam Resourcindo - Indonesia
- Jindal Steel & Power Ltd - India
- Independent Power Producers Association of India
- Standard Chartered Bank - UAE
- Ministry of Transport, Egypt
- Essar Steel Hazira Ltd - India
- Tamil Nadu electricity Board
- Mintek Dendrill Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Lanco Infratech Ltd - India
- Uttam Galva Steels Limited - India
- Petron Corporation, Philippines
- Banpu Public Company Limited - Thailand
- Meenaskhi Energy Private Limited - India
- Bulk Trading Sa - Switzerland
- Aditya Birla Group - India
- Videocon Industries ltd - India
- McConnell Dowell - Australia
- Australian Commodity Traders Exchange
- SN Aboitiz Power Inc, Philippines
- Trasteel International SA, Italy
- Grasim Industreis Ltd - India
- Orica Mining Services - Indonesia
- Savvy Resources Ltd - HongKong
- Samtan Co., Ltd - South Korea
- ASAPP Information Group - India
- Attock Cement Pakistan Limited
- Siam City Cement PLC, Thailand
- Gujarat Mineral Development Corp Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Cigading International Bulk Terminal - Indonesia
- Intertek Mineral Services - Indonesia
- Planning Commission, India
- Maharashtra Electricity Regulatory Commission - India
- San Jose City I Power Corp, Philippines
- PetroVietnam Power Coal Import and Supply Company
- TeaM Sual Corporation - Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Indogreen Group - Indonesia
- GVK Power & Infra Limited - India
- Manunggal Multi Energi - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Makarim & Taira - Indonesia
- Jaiprakash Power Ventures ltd
- Malabar Cements Ltd - India
- New Zealand Coal & Carbon
- Merrill Lynch Commodities Europe
- Formosa Plastics Group - Taiwan
- Carbofer General Trading SA - India
- GAC Shipping (India) Pvt Ltd
- Global Green Power PLC Corporation, Philippines
- Australian Coal Association
- Bukit Baiduri Energy - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Bukit Asam (Persero) Tbk - Indonesia
- Cement Manufacturers Association - India
- European Bulk Services B.V. - Netherlands
- Coastal Gujarat Power Limited - India
- Alfred C Toepfer International GmbH - Germany
- Neyveli Lignite Corporation Ltd, - India
- Oldendorff Carriers - Singapore
- Energy Development Corp, Philippines
- IHS Mccloskey Coal Group - USA
- International Coal Ventures Pvt Ltd - India
- London Commodity Brokers - England
- Larsen & Toubro Limited - India
- Kartika Selabumi Mining - Indonesia
- Sakthi Sugars Limited - India
- Sojitz Corporation - Japan
- Altura Mining Limited, Indonesia
- Ministry of Mines - Canada
- OPG Power Generation Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Indonesian Coal Mining Association
- Sree Jayajothi Cements Limited - India
- Agrawal Coal Company - India
- Orica Australia Pty. Ltd.
- Electricity Generating Authority of Thailand
- Bhushan Steel Limited - India
- Coalindo Energy - Indonesia
- SMG Consultants - Indonesia
- Latin American Coal - Colombia
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