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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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Thursday, 26 January 12
ABM INVESTAMA SEALS US$100 MIO CONTRACT - INSIDER STORIES
Insider Stories reported that, PT Reswara Minergi Hartama, a subsidary of PT ABM Investama Tbk (ABMM), has sealed a 2 million tons of coal export co ...
Thursday, 26 January 12
DRY BULK MARKETS DOWNFALL KNOWS NO LIMITS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market’s demise seems to have no visible end, as China’s Lunar Year Holidays continue this week, thus leaving demand with n ...
Wednesday, 25 January 12
CLEAN AND CLEAR MINING PERMITS TO BE COMPLETED END OF 2012 - BISNIS.COM
Bisnis.com reported that, the government plans to announce 700 mining permits with "clean and clear" status without overlapping on other p ...
Tuesday, 24 January 12
ANOTHER SEVERE DROP IN THE CAPESIZE - BRS
The lunar year celebrations and the high number of new building deliveries (more than 35 Capes so far in January as owners push 2011 deliveries into ...
Tuesday, 24 January 12
BUKIT ASAM FY11 NET PROFIT SURGES 50% - INSIDER STORIES
Insider Stories reported that, the state-controlled PT Bukit Asam Tbk (PTBA) estimated to book Rp3 trillion (approximately US$ 335,570,469) net prof ...
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- Bhushan Steel Limited - India
- Wilmar Investment Holdings
- Neyveli Lignite Corporation Ltd, - India
- Bayan Resources Tbk. - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- ASAPP Information Group - India
- The Treasury - Australian Government
- Parliament of New Zealand
- Africa Commodities Group - South Africa
- Global Green Power PLC Corporation, Philippines
- Lanco Infratech Ltd - India
- Marubeni Corporation - India
- Meenaskhi Energy Private Limited - India
- Mjunction Services Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Star Paper Mills Limited - India
- Bhoruka Overseas - Indonesia
- Altura Mining Limited, Indonesia
- Indo Tambangraya Megah - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- CIMB Investment Bank - Malaysia
- Bukit Asam (Persero) Tbk - Indonesia
- Oldendorff Carriers - Singapore
- Asmin Koalindo Tuhup - Indonesia
- Heidelberg Cement - Germany
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Savvy Resources Ltd - HongKong
- Gujarat Sidhee Cement - India
- Tata Chemicals Ltd - India
- Central Electricity Authority - India
- Merrill Lynch Commodities Europe
- CNBM International Corporation - China
- Toyota Tsusho Corporation, Japan
- Sojitz Corporation - Japan
- Uttam Galva Steels Limited - India
- Indian Energy Exchange, India
- Price Waterhouse Coopers - Russia
- Mercuria Energy - Indonesia
- ICICI Bank Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Anglo American - United Kingdom
- LBH Netherlands Bv - Netherlands
- Bahari Cakrawala Sebuku - Indonesia
- Alfred C Toepfer International GmbH - Germany
- San Jose City I Power Corp, Philippines
- Australian Coal Association
- Petron Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Interocean Group of Companies - India
- Trasteel International SA, Italy
- Mercator Lines Limited - India
- Sinarmas Energy and Mining - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Miang Besar Coal Terminal - Indonesia
- Bulk Trading Sa - Switzerland
- Central Java Power - Indonesia
- India Bulls Power Limited - India
- Carbofer General Trading SA - India
- OPG Power Generation Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- VISA Power Limited - India
- Samtan Co., Ltd - South Korea
- Leighton Contractors Pty Ltd - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Coal and Oil Company - UAE
- Ceylon Electricity Board - Sri Lanka
- Timah Investasi Mineral - Indoneisa
- Aboitiz Power Corporation - Philippines
- Ambuja Cements Ltd - India
- GAC Shipping (India) Pvt Ltd
- Bukit Baiduri Energy - Indonesia
- Standard Chartered Bank - UAE
- Billiton Holdings Pty Ltd - Australia
- Medco Energi Mining Internasional
- Grasim Industreis Ltd - India
- Economic Council, Georgia
- Kapuas Tunggal Persada - Indonesia
- Essar Steel Hazira Ltd - India
- Bukit Makmur.PT - Indonesia
- European Bulk Services B.V. - Netherlands
- Semirara Mining Corp, Philippines
- Electricity Authority, New Zealand
- Sree Jayajothi Cements Limited - India
- Metalloyd Limited - United Kingdom
- Kobexindo Tractors - Indoneisa
- Malabar Cements Ltd - India
- Kumho Petrochemical, South Korea
- Pendopo Energi Batubara - Indonesia
- Kaltim Prima Coal - Indonesia
- Goldman Sachs - Singapore
- Maheswari Brothers Coal Limited - India
- IEA Clean Coal Centre - UK
- Attock Cement Pakistan Limited
- PTC India Limited - India
- Indika Energy - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- The University of Queensland
- Maharashtra Electricity Regulatory Commission - India
- Commonwealth Bank - Australia
- International Coal Ventures Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Jaiprakash Power Ventures ltd
- Globalindo Alam Lestari - Indonesia
- Latin American Coal - Colombia
- Vizag Seaport Private Limited - India
- Renaissance Capital - South Africa
- AsiaOL BioFuels Corp., Philippines
- Port Waratah Coal Services - Australia
- Straits Asia Resources Limited - Singapore
- SN Aboitiz Power Inc, Philippines
- Independent Power Producers Association of India
- Directorate Of Revenue Intelligence - India
- Vedanta Resources Plc - India
- Wood Mackenzie - Singapore
- Xindia Steels Limited - India
- Kepco SPC Power Corporation, Philippines
- Siam City Cement - Thailand
- Karaikal Port Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- Edison Trading Spa - Italy
- Makarim & Taira - Indonesia
- Indonesian Coal Mining Association
- Vijayanagar Sugar Pvt Ltd - India
- Aditya Birla Group - India
- Manunggal Multi Energi - Indonesia
- Therma Luzon, Inc, Philippines
- McConnell Dowell - Australia
- Deloitte Consulting - India
- Singapore Mercantile Exchange
- Asia Pacific Energy Resources Ventures Inc, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Gujarat Electricity Regulatory Commission - India
- Meralco Power Generation, Philippines
- The State Trading Corporation of India Ltd
- New Zealand Coal & Carbon
- Minerals Council of Australia
- GVK Power & Infra Limited - India
- White Energy Company Limited
- Cement Manufacturers Association - India
- Antam Resourcindo - Indonesia
- Thiess Contractors Indonesia
- Formosa Plastics Group - Taiwan
- Kohat Cement Company Ltd. - Pakistan
- PowerSource Philippines DevCo
- Riau Bara Harum - Indonesia
- Sindya Power Generating Company Private Ltd
- Semirara Mining and Power Corporation, Philippines
- Australian Commodity Traders Exchange
- Sical Logistics Limited - India
- Agrawal Coal Company - India
- Madhucon Powers Ltd - India
- Eastern Coal Council - USA
- Tamil Nadu electricity Board
- Romanian Commodities Exchange
- Dalmia Cement Bharat India
- Siam City Cement PLC, Thailand
- SMC Global Power, Philippines
- Barasentosa Lestari - Indonesia
- PNOC Exploration Corporation - Philippines
- Orica Mining Services - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kartika Selabumi Mining - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Parry Sugars Refinery, India
- Directorate General of MIneral and Coal - Indonesia
- Iligan Light & Power Inc, Philippines
- Georgia Ports Authority, United States
- Energy Development Corp, Philippines
- Power Finance Corporation Ltd., India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- TeaM Sual Corporation - Philippines
- Baramulti Group, Indonesia
- Intertek Mineral Services - Indonesia
- GMR Energy Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Coalindo Energy - Indonesia
- London Commodity Brokers - England
- Indogreen Group - Indonesia
- Bhatia International Limited - India
- Ind-Barath Power Infra Limited - India
- SMG Consultants - Indonesia
- Electricity Generating Authority of Thailand
- Thai Mozambique Logistica
- Salva Resources Pvt Ltd - India
- Energy Link Ltd, New Zealand
- Posco Energy - South Korea
- Mintek Dendrill Indonesia
- Banpu Public Company Limited - Thailand
- Global Business Power Corporation, Philippines
- Larsen & Toubro Limited - India
- Global Coal Blending Company Limited - Australia
- Rashtriya Ispat Nigam Limited - India
- Jindal Steel & Power Ltd - India
- Chamber of Mines of South Africa
- Rio Tinto Coal - Australia
- Sakthi Sugars Limited - India
- Planning Commission, India
- Ministry of Transport, Egypt
- Eastern Energy - Thailand
- Indian Oil Corporation Limited
- Orica Australia Pty. Ltd.
- IHS Mccloskey Coal Group - USA
- Videocon Industries ltd - India
- MS Steel International - UAE
- Borneo Indobara - Indonesia
- Chettinad Cement Corporation Ltd - India
- Ministry of Finance - Indonesia
- Bharathi Cement Corporation - India
- Simpson Spence & Young - Indonesia
- Ministry of Mines - Canada
- Kideco Jaya Agung - Indonesia
- Binh Thuan Hamico - Vietnam
- Krishnapatnam Port Company Ltd. - India
- Cigading International Bulk Terminal - Indonesia
- Bangladesh Power Developement Board
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