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