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