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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, 13 February 12
WEEKLY DRY MARKET OVERVIEW - MARIA BERTZELETOU, HELLENIC SHIPPING
The current sentiment in the dry market resembles memories from the end of 2008, when the Baltic Dry Index closed at the level of 663 points on Dece ...
Sunday, 12 February 12
INDONESIA HAS ISSUED A REGULATION TO BAN THE EXPORT OF UNPROCESSED MINERALS AND METALS BY 2014
COALspot.com - The Indonesian government has finally issued a ministerial decree (7 Year 2012 dated 6 February 2012) to ban the export of unpro ...
Sunday, 12 February 12
THE BALTIC DRY INDEX CLIMBS 10.51%
COALspot.com - "The markets touched record lows not seen since mid 80’s. However there was some good news with signs of market recovery a ...
Saturday, 11 February 12
A SNAPSHOT ON THE ECONOMIC AND SHIPPING ENVIRONMENT - GOLDEN DESTINY
The week was highlighted with intense worries in the eurozone for Greece to secure its second bailout of $130billion by applying a ...
Saturday, 11 February 12
WILL HISTORY REPEAT ITSELF IN THIS SHIPPING CYCLE? - CLARKSONS / HELLENIC SHIPPING
A slightly dubious "best man" joke runs as follows… Best man (giving his wedding speech): "Have you noticed how history repeat ...
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Showing 4851 to 4855 news of total 6871 |
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- Orica Mining Services - Indonesia
- Indonesian Coal Mining Association
- SMG Consultants - Indonesia
- Manunggal Multi Energi - Indonesia
- Edison Trading Spa - Italy
- Indo Tambangraya Megah - Indonesia
- Parry Sugars Refinery, India
- Maheswari Brothers Coal Limited - India
- Thai Mozambique Logistica
- Mintek Dendrill Indonesia
- Directorate Of Revenue Intelligence - India
- Meralco Power Generation, Philippines
- Bhatia International Limited - India
- Straits Asia Resources Limited - Singapore
- Economic Council, Georgia
- VISA Power Limited - India
- London Commodity Brokers - England
- Ceylon Electricity Board - Sri Lanka
- Orica Australia Pty. Ltd.
- Petron Corporation, Philippines
- Wilmar Investment Holdings
- Port Waratah Coal Services - Australia
- Miang Besar Coal Terminal - Indonesia
- Bhushan Steel Limited - India
- Eastern Coal Council - USA
- San Jose City I Power Corp, Philippines
- Videocon Industries ltd - India
- Madhucon Powers Ltd - India
- South Luzon Thermal Energy Corporation
- MS Steel International - UAE
- Malabar Cements Ltd - India
- Timah Investasi Mineral - Indoneisa
- AsiaOL BioFuels Corp., Philippines
- Electricity Generating Authority of Thailand
- Salva Resources Pvt Ltd - India
- Indogreen Group - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Posco Energy - South Korea
- Renaissance Capital - South Africa
- IHS Mccloskey Coal Group - USA
- Riau Bara Harum - Indonesia
- Mercuria Energy - Indonesia
- Star Paper Mills Limited - India
- IEA Clean Coal Centre - UK
- Toyota Tsusho Corporation, Japan
- ASAPP Information Group - India
- Neyveli Lignite Corporation Ltd, - India
- Bukit Baiduri Energy - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Sojitz Corporation - Japan
- Australian Commodity Traders Exchange
- Semirara Mining and Power Corporation, Philippines
- Energy Development Corp, Philippines
- Ministry of Transport, Egypt
- Bukit Asam (Persero) Tbk - Indonesia
- Bhoruka Overseas - Indonesia
- Makarim & Taira - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Energy Link Ltd, New Zealand
- Ministry of Finance - Indonesia
- Eastern Energy - Thailand
- Alfred C Toepfer International GmbH - Germany
- Krishnapatnam Port Company Ltd. - India
- Bulk Trading Sa - Switzerland
- Africa Commodities Group - South Africa
- Global Business Power Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Cement Manufacturers Association - India
- Georgia Ports Authority, United States
- Power Finance Corporation Ltd., India
- ICICI Bank Limited - India
- Semirara Mining Corp, Philippines
- Therma Luzon, Inc, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Central Java Power - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Baramulti Group, Indonesia
- Ministry of Mines - Canada
- Dalmia Cement Bharat India
- Binh Thuan Hamico - Vietnam
- PNOC Exploration Corporation - Philippines
- Price Waterhouse Coopers - Russia
- Siam City Cement - Thailand
- SN Aboitiz Power Inc, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Kumho Petrochemical, South Korea
- McConnell Dowell - Australia
- White Energy Company Limited
- Indian Energy Exchange, India
- Borneo Indobara - Indonesia
- Sarangani Energy Corporation, Philippines
- Tata Chemicals Ltd - India
- Marubeni Corporation - India
- Kobexindo Tractors - Indoneisa
- CNBM International Corporation - China
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Maharashtra Electricity Regulatory Commission - India
- OPG Power Generation Pvt Ltd - India
- Rio Tinto Coal - Australia
- Lanco Infratech Ltd - India
- Coalindo Energy - Indonesia
- Formosa Plastics Group - Taiwan
- Singapore Mercantile Exchange
- Bahari Cakrawala Sebuku - Indonesia
- India Bulls Power Limited - India
- Interocean Group of Companies - India
- GN Power Mariveles Coal Plant, Philippines
- Bayan Resources Tbk. - Indonesia
- Iligan Light & Power Inc, Philippines
- Planning Commission, India
- Minerals Council of Australia
- The Treasury - Australian Government
- Kartika Selabumi Mining - Indonesia
- Global Green Power PLC Corporation, Philippines
- Central Electricity Authority - India
- Kohat Cement Company Ltd. - Pakistan
- Aditya Birla Group - India
- Sindya Power Generating Company Private Ltd
- Vedanta Resources Plc - India
- Global Coal Blending Company Limited - Australia
- Electricity Authority, New Zealand
- Coal and Oil Company - UAE
- PTC India Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Australian Coal Association
- Gujarat Mineral Development Corp Ltd - India
- Kaltim Prima Coal - Indonesia
- Attock Cement Pakistan Limited
- Gujarat Electricity Regulatory Commission - India
- International Coal Ventures Pvt Ltd - India
- PowerSource Philippines DevCo
- Leighton Contractors Pty Ltd - Australia
- Coastal Gujarat Power Limited - India
- Jaiprakash Power Ventures ltd
- LBH Netherlands Bv - Netherlands
- Sinarmas Energy and Mining - Indonesia
- Banpu Public Company Limited - Thailand
- TeaM Sual Corporation - Philippines
- Medco Energi Mining Internasional
- Sical Logistics Limited - India
- Ambuja Cements Ltd - India
- Latin American Coal - Colombia
- GMR Energy Limited - India
- Indian Oil Corporation Limited
- Bukit Makmur.PT - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Altura Mining Limited, Indonesia
- Wood Mackenzie - Singapore
- Goldman Sachs - Singapore
- Deloitte Consulting - India
- Thiess Contractors Indonesia
- Pendopo Energi Batubara - Indonesia
- Sakthi Sugars Limited - India
- Barasentosa Lestari - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Bharathi Cement Corporation - India
- Romanian Commodities Exchange
- Globalindo Alam Lestari - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Chamber of Mines of South Africa
- The State Trading Corporation of India Ltd
- SMC Global Power, Philippines
- Kepco SPC Power Corporation, Philippines
- Parliament of New Zealand
- Kapuas Tunggal Persada - Indonesia
- Samtan Co., Ltd - South Korea
- Indika Energy - Indonesia
- European Bulk Services B.V. - Netherlands
- Intertek Mineral Services - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Meenaskhi Energy Private Limited - India
- Heidelberg Cement - Germany
- New Zealand Coal & Carbon
- Offshore Bulk Terminal Pte Ltd, Singapore
- GVK Power & Infra Limited - India
- Xindia Steels Limited - India
- Larsen & Toubro Limited - India
- Essar Steel Hazira Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Carbofer General Trading SA - India
- Aboitiz Power Corporation - Philippines
- CIMB Investment Bank - Malaysia
- Siam City Cement PLC, Thailand
- Uttam Galva Steels Limited - India
- Bangladesh Power Developement Board
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Chettinad Cement Corporation Ltd - India
- GAC Shipping (India) Pvt Ltd
- The University of Queensland
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Sree Jayajothi Cements Limited - India
- Commonwealth Bank - Australia
- Grasim Industreis Ltd - India
- Agrawal Coal Company - India
- Independent Power Producers Association of India
- Jindal Steel & Power Ltd - India
- Metalloyd Limited - United Kingdom
- Billiton Holdings Pty Ltd - Australia
- Merrill Lynch Commodities Europe
- Savvy Resources Ltd - HongKong
- Bank of Tokyo Mitsubishi UFJ Ltd
- Tamil Nadu electricity Board
- Trasteel International SA, Italy
- Vizag Seaport Private Limited - India
- Mjunction Services Limited - India
- Standard Chartered Bank - UAE
- Karaikal Port Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Simpson Spence & Young - Indonesia
- Anglo American - United Kingdom
- Oldendorff Carriers - Singapore
- Kideco Jaya Agung - Indonesia
- Gujarat Sidhee Cement - India
- Ind-Barath Power Infra Limited - India
- Mercator Lines Limited - India
- Antam Resourcindo - Indonesia
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