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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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Friday, 10 February 12
TONNAGE KEEPS ON COMING - DREWRY
Drewry Maritime Research’s latest edition of its Dry Bulk Forecaster pulls no punches in its assessment of a market that looks certain to cont ...
Friday, 10 February 12
GIVE PERMIT POWERS TO GOVERNORS: MINERS - THE JAKARTA POST
The Jakarta Post reported that, following clashes between mining companies and local residents, the Indonesian Mining Association (IMA) wants to tra ...
Thursday, 09 February 12
AUSTRALIA'S EPIC TO ACQUIRE 15,500 HA COAL EXPLORATION LICENCES IN EAST KALIMANTAN, INDONESIA
COALspot.com - Epic Resources Limited to acquire two coal concessions in Kutai Barat regency, East Kalimantan, Indonesia.
According to company's ...
Thursday, 09 February 12
RESOURCE ALAM BUYS 28,521HA CONCESSIONS - INSIDER STORIES
Insider Stories reported that, PT Resource Alam Indonesia Tbk (KKGI), owned by Adijanto family, today announced acquisition of 75% interest in PT Ka ...
Tuesday, 07 February 12
DRY BULK MARKET FINALLY STOPS DECLINE, POSTS FIRST RISE IN MORE THAN A MONTH - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
After falling to near record lows, not seen since the mid-80s the dry bulk market has finally stopped its path to "hell", with the industr ...
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- Directorate Of Revenue Intelligence - India
- Asmin Koalindo Tuhup - Indonesia
- Port Waratah Coal Services - Australia
- Bharathi Cement Corporation - India
- PNOC Exploration Corporation - Philippines
- The University of Queensland
- Price Waterhouse Coopers - Russia
- Jindal Steel & Power Ltd - India
- Central Electricity Authority - India
- Timah Investasi Mineral - Indoneisa
- Energy Link Ltd, New Zealand
- McConnell Dowell - Australia
- Anglo American - United Kingdom
- Bahari Cakrawala Sebuku - Indonesia
- Economic Council, Georgia
- Sical Logistics Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Edison Trading Spa - Italy
- PetroVietnam Power Coal Import and Supply Company
- Wilmar Investment Holdings
- White Energy Company Limited
- Ministry of Transport, Egypt
- Kartika Selabumi Mining - Indonesia
- Globalindo Alam Lestari - Indonesia
- Videocon Industries ltd - India
- Holcim Trading Pte Ltd - Singapore
- Mintek Dendrill Indonesia
- Gujarat Mineral Development Corp Ltd - India
- PTC India Limited - India
- Africa Commodities Group - South Africa
- ICICI Bank Limited - India
- Mercuria Energy - Indonesia
- Metalloyd Limited - United Kingdom
- Leighton Contractors Pty Ltd - Australia
- Gujarat Electricity Regulatory Commission - India
- Carbofer General Trading SA - India
- Pendopo Energi Batubara - Indonesia
- Interocean Group of Companies - India
- Bayan Resources Tbk. - Indonesia
- Medco Energi Mining Internasional
- Siam City Cement PLC, Thailand
- Commonwealth Bank - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Romanian Commodities Exchange
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Wood Mackenzie - Singapore
- New Zealand Coal & Carbon
- SN Aboitiz Power Inc, Philippines
- South Luzon Thermal Energy Corporation
- Aboitiz Power Corporation - Philippines
- Barasentosa Lestari - Indonesia
- Georgia Ports Authority, United States
- Bhoruka Overseas - Indonesia
- Xindia Steels Limited - India
- Goldman Sachs - Singapore
- Cigading International Bulk Terminal - Indonesia
- Indika Energy - Indonesia
- Makarim & Taira - Indonesia
- Oldendorff Carriers - Singapore
- Singapore Mercantile Exchange
- CNBM International Corporation - China
- Malabar Cements Ltd - India
- Aditya Birla Group - India
- Alfred C Toepfer International GmbH - Germany
- Iligan Light & Power Inc, Philippines
- IEA Clean Coal Centre - UK
- Binh Thuan Hamico - Vietnam
- Parry Sugars Refinery, India
- Banpu Public Company Limited - Thailand
- Sarangani Energy Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- Ind-Barath Power Infra Limited - India
- Rashtriya Ispat Nigam Limited - India
- Maheswari Brothers Coal Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Heidelberg Cement - Germany
- ASAPP Information Group - India
- Karbindo Abesyapradhi - Indoneisa
- Tata Chemicals Ltd - India
- Riau Bara Harum - Indonesia
- Electricity Generating Authority of Thailand
- Australian Commodity Traders Exchange
- Bulk Trading Sa - Switzerland
- Krishnapatnam Port Company Ltd. - India
- Global Green Power PLC Corporation, Philippines
- Independent Power Producers Association of India
- Sree Jayajothi Cements Limited - India
- Central Java Power - Indonesia
- Chettinad Cement Corporation Ltd - India
- Orica Mining Services - Indonesia
- Eastern Coal Council - USA
- International Coal Ventures Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- SMC Global Power, Philippines
- Global Business Power Corporation, Philippines
- Sojitz Corporation - Japan
- VISA Power Limited - India
- Kobexindo Tractors - Indoneisa
- Minerals Council of Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bhushan Steel Limited - India
- Sinarmas Energy and Mining - Indonesia
- AsiaOL BioFuels Corp., Philippines
- GVK Power & Infra Limited - India
- Tamil Nadu electricity Board
- Star Paper Mills Limited - India
- Power Finance Corporation Ltd., India
- Pipit Mutiara Jaya. PT, Indonesia
- MS Steel International - UAE
- Merrill Lynch Commodities Europe
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kepco SPC Power Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- The Treasury - Australian Government
- Indian Energy Exchange, India
- Orica Australia Pty. Ltd.
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Karaikal Port Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- San Jose City I Power Corp, Philippines
- Sindya Power Generating Company Private Ltd
- Salva Resources Pvt Ltd - India
- Rio Tinto Coal - Australia
- Ambuja Cements Ltd - India
- Grasim Industreis Ltd - India
- Indogreen Group - Indonesia
- Thiess Contractors Indonesia
- European Bulk Services B.V. - Netherlands
- TNB Fuel Sdn Bhd - Malaysia
- Posco Energy - South Korea
- GAC Shipping (India) Pvt Ltd
- Chamber of Mines of South Africa
- The State Trading Corporation of India Ltd
- Vijayanagar Sugar Pvt Ltd - India
- India Bulls Power Limited - India
- LBH Netherlands Bv - Netherlands
- Altura Mining Limited, Indonesia
- Planning Commission, India
- Meralco Power Generation, Philippines
- Larsen & Toubro Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Kideco Jaya Agung - Indonesia
- Dalmia Cement Bharat India
- Savvy Resources Ltd - HongKong
- Uttam Galva Steels Limited - India
- Eastern Energy - Thailand
- Global Coal Blending Company Limited - Australia
- Indonesian Coal Mining Association
- GN Power Mariveles Coal Plant, Philippines
- Mjunction Services Limited - India
- Bangladesh Power Developement Board
- Semirara Mining Corp, Philippines
- Bukit Makmur.PT - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Mercator Lines Limited - India
- Jaiprakash Power Ventures ltd
- PowerSource Philippines DevCo
- Renaissance Capital - South Africa
- Petron Corporation, Philippines
- Australian Coal Association
- Standard Chartered Bank - UAE
- Kaltim Prima Coal - Indonesia
- Toyota Tsusho Corporation, Japan
- Kapuas Tunggal Persada - Indonesia
- Essar Steel Hazira Ltd - India
- Vizag Seaport Private Limited - India
- GMR Energy Limited - India
- SMG Consultants - Indonesia
- Marubeni Corporation - India
- Meenaskhi Energy Private Limited - India
- TeaM Sual Corporation - Philippines
- Parliament of New Zealand
- Coastal Gujarat Power Limited - India
- Agrawal Coal Company - India
- Kohat Cement Company Ltd. - Pakistan
- Madhucon Powers Ltd - India
- Intertek Mineral Services - Indonesia
- Simpson Spence & Young - Indonesia
- Thai Mozambique Logistica
- Electricity Authority, New Zealand
- Indian Oil Corporation Limited
- Antam Resourcindo - Indonesia
- Ministry of Finance - Indonesia
- London Commodity Brokers - England
- Lanco Infratech Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Coalindo Energy - Indonesia
- Siam City Cement - Thailand
- OPG Power Generation Pvt Ltd - India
- Bhatia International Limited - India
- Gujarat Sidhee Cement - India
- Bukit Baiduri Energy - Indonesia
- Baramulti Group, Indonesia
- Formosa Plastics Group - Taiwan
- Attock Cement Pakistan Limited
- Latin American Coal - Colombia
- CIMB Investment Bank - Malaysia
- Coal and Oil Company - UAE
- Therma Luzon, Inc, Philippines
- Miang Besar Coal Terminal - Indonesia
- Deloitte Consulting - India
- Ministry of Mines - Canada
- Borneo Indobara - Indonesia
- Trasteel International SA, Italy
- Samtan Co., Ltd - South Korea
- Billiton Holdings Pty Ltd - Australia
- Ceylon Electricity Board - Sri Lanka
- Energy Development Corp, Philippines
- Manunggal Multi Energi - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Straits Asia Resources Limited - Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- Sakthi Sugars Limited - India
- Kumho Petrochemical, South Korea
- Vedanta Resources Plc - India
- Cement Manufacturers Association - India
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