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