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