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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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Showing 4866 to 4870 news of total 6871 |
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- Electricity Generating Authority of Thailand
- Ind-Barath Power Infra Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Holcim Trading Pte Ltd - Singapore
- Sinarmas Energy and Mining - Indonesia
- Salva Resources Pvt Ltd - India
- Star Paper Mills Limited - India
- San Jose City I Power Corp, Philippines
- Bhoruka Overseas - Indonesia
- Medco Energi Mining Internasional
- Posco Energy - South Korea
- Borneo Indobara - Indonesia
- Manunggal Multi Energi - Indonesia
- GAC Shipping (India) Pvt Ltd
- Baramulti Group, Indonesia
- Antam Resourcindo - Indonesia
- Orica Mining Services - Indonesia
- Rio Tinto Coal - Australia
- Global Coal Blending Company Limited - Australia
- Thai Mozambique Logistica
- Petron Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- Sakthi Sugars Limited - India
- Ministry of Finance - Indonesia
- Xindia Steels Limited - India
- Ceylon Electricity Board - Sri Lanka
- SMC Global Power, Philippines
- Gujarat Sidhee Cement - India
- Maharashtra Electricity Regulatory Commission - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sojitz Corporation - Japan
- Kumho Petrochemical, South Korea
- Global Business Power Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- Africa Commodities Group - South Africa
- McConnell Dowell - Australia
- Central Electricity Authority - India
- AsiaOL BioFuels Corp., Philippines
- Australian Commodity Traders Exchange
- Agrawal Coal Company - India
- Globalindo Alam Lestari - Indonesia
- Georgia Ports Authority, United States
- PNOC Exploration Corporation - Philippines
- Mjunction Services Limited - India
- Barasentosa Lestari - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Ministry of Transport, Egypt
- Aboitiz Power Corporation - Philippines
- SN Aboitiz Power Inc, Philippines
- Billiton Holdings Pty Ltd - Australia
- Parliament of New Zealand
- Iligan Light & Power Inc, Philippines
- Bhushan Steel Limited - India
- The State Trading Corporation of India Ltd
- Commonwealth Bank - Australia
- The Treasury - Australian Government
- Energy Development Corp, Philippines
- Makarim & Taira - Indonesia
- Heidelberg Cement - Germany
- London Commodity Brokers - England
- Oldendorff Carriers - Singapore
- Bukit Baiduri Energy - Indonesia
- Romanian Commodities Exchange
- Formosa Plastics Group - Taiwan
- Interocean Group of Companies - India
- Uttam Galva Steels Limited - India
- Lanco Infratech Ltd - India
- Vedanta Resources Plc - India
- GMR Energy Limited - India
- Cigading International Bulk Terminal - Indonesia
- Indogreen Group - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Mintek Dendrill Indonesia
- Altura Mining Limited, Indonesia
- Semirara Mining and Power Corporation, Philippines
- Ambuja Cements Ltd - India
- Goldman Sachs - Singapore
- Mercator Lines Limited - India
- Kepco SPC Power Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- Ministry of Mines - Canada
- Jorong Barutama Greston.PT - Indonesia
- Dalmia Cement Bharat India
- Sarangani Energy Corporation, Philippines
- GVK Power & Infra Limited - India
- VISA Power Limited - India
- New Zealand Coal & Carbon
- IHS Mccloskey Coal Group - USA
- MS Steel International - UAE
- Directorate Of Revenue Intelligence - India
- Indika Energy - Indonesia
- Global Green Power PLC Corporation, Philippines
- Power Finance Corporation Ltd., India
- Bukit Makmur.PT - Indonesia
- Pendopo Energi Batubara - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Attock Cement Pakistan Limited
- Minerals Council of Australia
- Binh Thuan Hamico - Vietnam
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Orica Australia Pty. Ltd.
- CNBM International Corporation - China
- GN Power Mariveles Coal Plant, Philippines
- Wilmar Investment Holdings
- Neyveli Lignite Corporation Ltd, - India
- Meralco Power Generation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Grasim Industreis Ltd - India
- Aditya Birla Group - India
- PetroVietnam Power Coal Import and Supply Company
- The University of Queensland
- Gujarat Mineral Development Corp Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Timah Investasi Mineral - Indoneisa
- Malabar Cements Ltd - India
- Mercuria Energy - Indonesia
- Bulk Trading Sa - Switzerland
- Riau Bara Harum - Indonesia
- Indian Oil Corporation Limited
- Eastern Coal Council - USA
- SMG Consultants - Indonesia
- Essar Steel Hazira Ltd - India
- Straits Asia Resources Limited - Singapore
- Madhucon Powers Ltd - India
- Coalindo Energy - Indonesia
- Chettinad Cement Corporation Ltd - India
- Karaikal Port Pvt Ltd - India
- Tamil Nadu electricity Board
- Chamber of Mines of South Africa
- Marubeni Corporation - India
- Kalimantan Lumbung Energi - Indonesia
- Tata Chemicals Ltd - India
- Latin American Coal - Colombia
- Indonesian Coal Mining Association
- PTC India Limited - India
- Siam City Cement PLC, Thailand
- Thiess Contractors Indonesia
- Miang Besar Coal Terminal - Indonesia
- Bharathi Cement Corporation - India
- Indian Energy Exchange, India
- Port Waratah Coal Services - Australia
- Merrill Lynch Commodities Europe
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Central Java Power - Indonesia
- Videocon Industries ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Asmin Koalindo Tuhup - Indonesia
- Economic Council, Georgia
- ICICI Bank Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Anglo American - United Kingdom
- Independent Power Producers Association of India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Banpu Public Company Limited - Thailand
- Metalloyd Limited - United Kingdom
- Eastern Energy - Thailand
- IEA Clean Coal Centre - UK
- Bangladesh Power Developement Board
- Price Waterhouse Coopers - Russia
- TNB Fuel Sdn Bhd - Malaysia
- White Energy Company Limited
- Larsen & Toubro Limited - India
- Deloitte Consulting - India
- Sree Jayajothi Cements Limited - India
- LBH Netherlands Bv - Netherlands
- Intertek Mineral Services - Indonesia
- Singapore Mercantile Exchange
- Coastal Gujarat Power Limited - India
- Coal and Oil Company - UAE
- Kohat Cement Company Ltd. - Pakistan
- European Bulk Services B.V. - Netherlands
- Kaltim Prima Coal - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- South Luzon Thermal Energy Corporation
- Savvy Resources Ltd - HongKong
- Bayan Resources Tbk. - Indonesia
- Kideco Jaya Agung - Indonesia
- Electricity Authority, New Zealand
- Planning Commission, India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Wood Mackenzie - Singapore
- Trasteel International SA, Italy
- TeaM Sual Corporation - Philippines
- Edison Trading Spa - Italy
- Pipit Mutiara Jaya. PT, Indonesia
- ASAPP Information Group - India
- CIMB Investment Bank - Malaysia
- OPG Power Generation Pvt Ltd - India
- Parry Sugars Refinery, India
- PowerSource Philippines DevCo
- Australian Coal Association
- Therma Luzon, Inc, Philippines
- Standard Chartered Bank - UAE
- Bank of Tokyo Mitsubishi UFJ Ltd
- Vizag Seaport Private Limited - India
- Renaissance Capital - South Africa
- Maheswari Brothers Coal Limited - India
- Simpson Spence & Young - Indonesia
- Samtan Co., Ltd - South Korea
- Cement Manufacturers Association - India
- Bukit Asam (Persero) Tbk - Indonesia
- Toyota Tsusho Corporation, Japan
- Jaiprakash Power Ventures ltd
- Kobexindo Tractors - Indoneisa
- India Bulls Power Limited - India
- Energy Link Ltd, New Zealand
- Karbindo Abesyapradhi - Indoneisa
- Carbofer General Trading SA - India
- Kartika Selabumi Mining - Indonesia
- Sical Logistics Limited - India
- Siam City Cement - Thailand
- Kapuas Tunggal Persada - Indonesia
- Sindya Power Generating Company Private Ltd
- Semirara Mining Corp, Philippines
- Bhatia International Limited - India
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