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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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Tuesday, 31 January 12
THERE ARE MANY GOOD REASONS FOR COAL IN GERMANY - DR CIESLIK
COALspot.com - "The year 2011 was again marked by many changes on the markets and energy policies, at times in line with expectations, but at o ...
Tuesday, 31 January 12
DRY BULK MARKET KEEPS FALLING FOR WORST MONTH IN YEARS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market didn't manage to put a halt in its downfall, with the industry's benchmark, the BDI (Baltic Dry Index), posting yet another fa ...
Monday, 30 January 12
CHINA'S HUNGER FOR COAL LEAVES DENT IN PENNSYLVANIA'S SUPPLY - THOMAS LESKIN
With the price of heating oil on the rise, one of Pennsylvania's greatest natural resources - coal - is in high demand, and not just locally.
Et ...
Saturday, 28 January 12
WILL FREIGHT MARKET STABILIZE FROM NEXT WEEK?
COALspot.com - The markets continued to soften with BDI at 663 points down by 15.78 pct closing at 726 points and cape index was down by 5.73 pct cl ...
Friday, 27 January 12
DEMOLITION ACTIVITY NEEDS TO INCREASE SIGNIFICANTLY THIS YEAR AS WELL - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The oversupply of vessels in most shipping sectors is so intense that it’s become clear to ship owners that unless they scrap as many of their ...
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- Jindal Steel & Power Ltd - India
- Goldman Sachs - Singapore
- Australian Commodity Traders Exchange
- Electricity Authority, New Zealand
- London Commodity Brokers - England
- Marubeni Corporation - India
- Bukit Baiduri Energy - Indonesia
- Bhushan Steel Limited - India
- ASAPP Information Group - India
- Borneo Indobara - Indonesia
- Petron Corporation, Philippines
- Interocean Group of Companies - India
- Anglo American - United Kingdom
- Semirara Mining and Power Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- CNBM International Corporation - China
- Orica Mining Services - Indonesia
- Thai Mozambique Logistica
- The University of Queensland
- Planning Commission, India
- Barasentosa Lestari - Indonesia
- Merrill Lynch Commodities Europe
- Agrawal Coal Company - India
- Chamber of Mines of South Africa
- MS Steel International - UAE
- Bangladesh Power Developement Board
- Iligan Light & Power Inc, Philippines
- Semirara Mining Corp, Philippines
- San Jose City I Power Corp, Philippines
- Intertek Mineral Services - Indonesia
- International Coal Ventures Pvt Ltd - India
- GVK Power & Infra Limited - India
- Meralco Power Generation, Philippines
- Ind-Barath Power Infra Limited - India
- Gujarat Sidhee Cement - India
- Cigading International Bulk Terminal - Indonesia
- Simpson Spence & Young - Indonesia
- Parry Sugars Refinery, India
- Posco Energy - South Korea
- Star Paper Mills Limited - India
- White Energy Company Limited
- Central Electricity Authority - India
- Port Waratah Coal Services - Australia
- Oldendorff Carriers - Singapore
- Coalindo Energy - Indonesia
- Global Business Power Corporation, Philippines
- TeaM Sual Corporation - Philippines
- Manunggal Multi Energi - Indonesia
- Aditya Birla Group - India
- GN Power Mariveles Coal Plant, Philippines
- Mjunction Services Limited - India
- Altura Mining Limited, Indonesia
- Malabar Cements Ltd - India
- Dalmia Cement Bharat India
- Australian Coal Association
- Vizag Seaport Private Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Grasim Industreis Ltd - India
- Global Coal Blending Company Limited - Australia
- ICICI Bank Limited - India
- Uttam Galva Steels Limited - India
- Billiton Holdings Pty Ltd - Australia
- Kalimantan Lumbung Energi - Indonesia
- Bhatia International Limited - India
- The State Trading Corporation of India Ltd
- Toyota Tsusho Corporation, Japan
- Tamil Nadu electricity Board
- Sindya Power Generating Company Private Ltd
- Power Finance Corporation Ltd., India
- OPG Power Generation Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Riau Bara Harum - Indonesia
- Directorate Of Revenue Intelligence - India
- Savvy Resources Ltd - HongKong
- Videocon Industries ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- The Treasury - Australian Government
- Commonwealth Bank - Australia
- Banpu Public Company Limited - Thailand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ministry of Transport, Egypt
- Mercuria Energy - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Sical Logistics Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Gujarat Mineral Development Corp Ltd - India
- Global Green Power PLC Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- Bayan Resources Tbk. - Indonesia
- Globalindo Alam Lestari - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Karaikal Port Pvt Ltd - India
- Kumho Petrochemical, South Korea
- Miang Besar Coal Terminal - Indonesia
- European Bulk Services B.V. - Netherlands
- Vedanta Resources Plc - India
- Independent Power Producers Association of India
- AsiaOL BioFuels Corp., Philippines
- Directorate General of MIneral and Coal - Indonesia
- Indika Energy - Indonesia
- Xindia Steels Limited - India
- VISA Power Limited - India
- Straits Asia Resources Limited - Singapore
- Kaltim Prima Coal - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Antam Resourcindo - Indonesia
- Meenaskhi Energy Private Limited - India
- Indian Energy Exchange, India
- Bharathi Cement Corporation - India
- Minerals Council of Australia
- McConnell Dowell - Australia
- Sinarmas Energy and Mining - Indonesia
- Indian Oil Corporation Limited
- Trasteel International SA, Italy
- Carbofer General Trading SA - India
- Therma Luzon, Inc, Philippines
- Larsen & Toubro Limited - India
- Ministry of Mines - Canada
- Maheswari Brothers Coal Limited - India
- Standard Chartered Bank - UAE
- Eastern Coal Council - USA
- Medco Energi Mining Internasional
- Africa Commodities Group - South Africa
- Ministry of Finance - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Bukit Makmur.PT - Indonesia
- Salva Resources Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- Renaissance Capital - South Africa
- Siam City Cement - Thailand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Central Java Power - Indonesia
- Siam City Cement PLC, Thailand
- Lanco Infratech Ltd - India
- Essar Steel Hazira Ltd - India
- Mercator Lines Limited - India
- Formosa Plastics Group - Taiwan
- Holcim Trading Pte Ltd - Singapore
- Cement Manufacturers Association - India
- SN Aboitiz Power Inc, Philippines
- Binh Thuan Hamico - Vietnam
- Krishnapatnam Port Company Ltd. - India
- Coastal Gujarat Power Limited - India
- Coal and Oil Company - UAE
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Energy Development Corp, Philippines
- SMC Global Power, Philippines
- Mintek Dendrill Indonesia
- Sakthi Sugars Limited - India
- India Bulls Power Limited - India
- Indonesian Coal Mining Association
- Ceylon Electricity Board - Sri Lanka
- Kartika Selabumi Mining - Indonesia
- Kepco SPC Power Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Jaiprakash Power Ventures ltd
- Samtan Co., Ltd - South Korea
- Georgia Ports Authority, United States
- IHS Mccloskey Coal Group - USA
- Aboitiz Power Corporation - Philippines
- Chettinad Cement Corporation Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Indo Tambangraya Megah - Indonesia
- Thiess Contractors Indonesia
- IEA Clean Coal Centre - UK
- Heidelberg Cement - Germany
- CIMB Investment Bank - Malaysia
- Deloitte Consulting - India
- Metalloyd Limited - United Kingdom
- PowerSource Philippines DevCo
- Romanian Commodities Exchange
- Singapore Mercantile Exchange
- Tata Chemicals Ltd - India
- Sarangani Energy Corporation, Philippines
- Energy Link Ltd, New Zealand
- Sojitz Corporation - Japan
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Rashtriya Ispat Nigam Limited - India
- LBH Netherlands Bv - Netherlands
- Economic Council, Georgia
- Jorong Barutama Greston.PT - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- SMG Consultants - Indonesia
- Latin American Coal - Colombia
- Vijayanagar Sugar Pvt Ltd - India
- New Zealand Coal & Carbon
- Ambuja Cements Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- South Luzon Thermal Energy Corporation
- Kohat Cement Company Ltd. - Pakistan
- Attock Cement Pakistan Limited
- Pipit Mutiara Jaya. PT, Indonesia
- Parliament of New Zealand
- Pendopo Energi Batubara - Indonesia
- Timah Investasi Mineral - Indoneisa
- Bulk Trading Sa - Switzerland
- Baramulti Group, Indonesia
- Eastern Energy - Thailand
- Price Waterhouse Coopers - Russia
- GAC Shipping (India) Pvt Ltd
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indogreen Group - Indonesia
- PTC India Limited - India
- Edison Trading Spa - Italy
- Wood Mackenzie - Singapore
- Gujarat Electricity Regulatory Commission - India
- Rio Tinto Coal - Australia
- Wilmar Investment Holdings
- GMR Energy Limited - India
- Orica Australia Pty. Ltd.
- Petrochimia International Co. Ltd.- Taiwan
- Madhucon Powers Ltd - India
- Makarim & Taira - Indonesia
- Kideco Jaya Agung - Indonesia
- Electricity Generating Authority of Thailand
- Bhoruka Overseas - Indonesia
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