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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, 19 January 12
14TH VOGP MEETING IN HO CHI MINH CITY HANDS OUT LATEST UPDATES AND DEVELOPMENTS IN VIETNAM'S ENERGY INDUSTRY
Press Release: At upcoming 14th Vietnam Oil Gas Power on 27-28 Feb in Ho Chi Minh City the industry’s most influential names including Petrovi ...
Thursday, 19 January 12
DELTA DUNIA SEALS US$820 MIO CONTRACT INSIDER STORIES
Insider Stories reported that, PT Delta Dunia Makmur Tbk (DOID) has announced that its primary operating subsidiary, PT Bukit Makmur Mandiri Utama ( ...
Wednesday, 18 January 12
WARM WINTER ACROSS EUROPE HAS IMPACTED NEGATIVELY COAL DEMAND - BRS
With the Chinese New Year just a week away, all markets are slowing down. The drop in freight rates for all sizes has been significant over the past ...
Wednesday, 18 January 12
DRY BULK MARKET'S DRAMA CONTINUES IN START OF NEW WEEK - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
A flurry of newbuilding deliveries, coupled with a slow start to the new year, a typical trend for the dry bulk market, has led the industry's benc ...
Monday, 16 January 12
BUMA MINED 2.7 MILLION TONS COAL LAST MONTH
COALspot.com - BUMA has mined 2.7 million tons (-14.1% YoY) coal last month and removed 25.8 million bcm (-5.6% YoY) overburden, according to compan ...
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- Bharathi Cement Corporation - India
- Rio Tinto Coal - Australia
- Kumho Petrochemical, South Korea
- Straits Asia Resources Limited - Singapore
- Karaikal Port Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Kepco SPC Power Corporation, Philippines
- Mercator Lines Limited - India
- The University of Queensland
- Bahari Cakrawala Sebuku - Indonesia
- Simpson Spence & Young - Indonesia
- Cement Manufacturers Association - India
- ASAPP Information Group - India
- Maharashtra Electricity Regulatory Commission - India
- Asmin Koalindo Tuhup - Indonesia
- Manunggal Multi Energi - Indonesia
- Coal and Oil Company - UAE
- Krishnapatnam Port Company Ltd. - India
- Ministry of Mines - Canada
- Binh Thuan Hamico - Vietnam
- Kalimantan Lumbung Energi - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Pendopo Energi Batubara - Indonesia
- Kobexindo Tractors - Indoneisa
- Holcim Trading Pte Ltd - Singapore
- Posco Energy - South Korea
- Semirara Mining Corp, Philippines
- Indogreen Group - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Power Finance Corporation Ltd., India
- Georgia Ports Authority, United States
- Kideco Jaya Agung - Indonesia
- Port Waratah Coal Services - Australia
- Essar Steel Hazira Ltd - India
- Price Waterhouse Coopers - Russia
- Bukit Baiduri Energy - Indonesia
- IHS Mccloskey Coal Group - USA
- Banpu Public Company Limited - Thailand
- Indo Tambangraya Megah - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- TeaM Sual Corporation - Philippines
- Savvy Resources Ltd - HongKong
- Madhucon Powers Ltd - India
- Formosa Plastics Group - Taiwan
- Orica Australia Pty. Ltd.
- Interocean Group of Companies - India
- Central Java Power - Indonesia
- Ministry of Finance - Indonesia
- Thiess Contractors Indonesia
- Indika Energy - Indonesia
- European Bulk Services B.V. - Netherlands
- Xindia Steels Limited - India
- Bulk Trading Sa - Switzerland
- Orica Mining Services - Indonesia
- Goldman Sachs - Singapore
- Gujarat Mineral Development Corp Ltd - India
- GAC Shipping (India) Pvt Ltd
- Africa Commodities Group - South Africa
- Minerals Council of Australia
- Mercuria Energy - Indonesia
- PTC India Limited - India
- Chettinad Cement Corporation Ltd - India
- Renaissance Capital - South Africa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Aditya Birla Group - India
- Indonesian Coal Mining Association
- GVK Power & Infra Limited - India
- Electricity Generating Authority of Thailand
- Karbindo Abesyapradhi - Indoneisa
- Cigading International Bulk Terminal - Indonesia
- Altura Mining Limited, Indonesia
- OPG Power Generation Pvt Ltd - India
- Parry Sugars Refinery, India
- London Commodity Brokers - England
- Directorate General of MIneral and Coal - Indonesia
- Bhatia International Limited - India
- Latin American Coal - Colombia
- Uttam Galva Steels Limited - India
- San Jose City I Power Corp, Philippines
- Merrill Lynch Commodities Europe
- Riau Bara Harum - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Meralco Power Generation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- Indian Oil Corporation Limited
- Toyota Tsusho Corporation, Japan
- Ind-Barath Power Infra Limited - India
- Independent Power Producers Association of India
- Planning Commission, India
- Bukit Makmur.PT - Indonesia
- Therma Luzon, Inc, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Heidelberg Cement - Germany
- Bangladesh Power Developement Board
- Dalmia Cement Bharat India
- PowerSource Philippines DevCo
- Vijayanagar Sugar Pvt Ltd - India
- Anglo American - United Kingdom
- Timah Investasi Mineral - Indoneisa
- Siam City Cement - Thailand
- ICICI Bank Limited - India
- MS Steel International - UAE
- Chamber of Mines of South Africa
- Agrawal Coal Company - India
- Oldendorff Carriers - Singapore
- Wilmar Investment Holdings
- Intertek Mineral Services - Indonesia
- Thai Mozambique Logistica
- PNOC Exploration Corporation - Philippines
- Videocon Industries ltd - India
- Salva Resources Pvt Ltd - India
- White Energy Company Limited
- Standard Chartered Bank - UAE
- Borneo Indobara - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- The State Trading Corporation of India Ltd
- International Coal Ventures Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- SMG Consultants - Indonesia
- The Treasury - Australian Government
- Iligan Light & Power Inc, Philippines
- GMR Energy Limited - India
- Medco Energi Mining Internasional
- India Bulls Power Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Pipit Mutiara Jaya. PT, Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Eastern Coal Council - USA
- Kartika Selabumi Mining - Indonesia
- Ministry of Transport, Egypt
- Wood Mackenzie - Singapore
- Coalindo Energy - Indonesia
- Mintek Dendrill Indonesia
- Sojitz Corporation - Japan
- Metalloyd Limited - United Kingdom
- TNB Fuel Sdn Bhd - Malaysia
- Siam City Cement PLC, Thailand
- Lanco Infratech Ltd - India
- Vizag Seaport Private Limited - India
- Rashtriya Ispat Nigam Limited - India
- Ambuja Cements Ltd - India
- Australian Commodity Traders Exchange
- Marubeni Corporation - India
- Barasentosa Lestari - Indonesia
- South Luzon Thermal Energy Corporation
- New Zealand Coal & Carbon
- Makarim & Taira - Indonesia
- Malabar Cements Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Star Paper Mills Limited - India
- Electricity Authority, New Zealand
- Semirara Mining and Power Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Indian Energy Exchange, India
- Eastern Energy - Thailand
- Ceylon Electricity Board - Sri Lanka
- LBH Netherlands Bv - Netherlands
- Meenaskhi Energy Private Limited - India
- CIMB Investment Bank - Malaysia
- Attock Cement Pakistan Limited
- SN Aboitiz Power Inc, Philippines
- Global Green Power PLC Corporation, Philippines
- Parliament of New Zealand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Carbofer General Trading SA - India
- Australian Coal Association
- Bhoruka Overseas - Indonesia
- McConnell Dowell - Australia
- Grasim Industreis Ltd - India
- Sree Jayajothi Cements Limited - India
- Tata Chemicals Ltd - India
- Sarangani Energy Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Billiton Holdings Pty Ltd - Australia
- AsiaOL BioFuels Corp., Philippines
- Kaltim Prima Coal - Indonesia
- Baramulti Group, Indonesia
- VISA Power Limited - India
- Trasteel International SA, Italy
- Deloitte Consulting - India
- Antam Resourcindo - Indonesia
- Economic Council, Georgia
- Edison Trading Spa - Italy
- Bhushan Steel Limited - India
- SMC Global Power, Philippines
- Energy Link Ltd, New Zealand
- Global Coal Blending Company Limited - Australia
- Global Business Power Corporation, Philippines
- Sical Logistics Limited - India
- Kapuas Tunggal Persada - Indonesia
- Petron Corporation, Philippines
- Mjunction Services Limited - India
- Bayan Resources Tbk. - Indonesia
- Central Electricity Authority - India
- CNBM International Corporation - China
- Leighton Contractors Pty Ltd - Australia
- Gujarat Sidhee Cement - India
- Vedanta Resources Plc - India
- Aboitiz Power Corporation - Philippines
- Tamil Nadu electricity Board
- Romanian Commodities Exchange
- Samtan Co., Ltd - South Korea
- Maheswari Brothers Coal Limited - India
- Larsen & Toubro Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- IEA Clean Coal Centre - UK
- Energy Development Corp, Philippines
- Commonwealth Bank - Australia
- Sindya Power Generating Company Private Ltd
- Sakthi Sugars Limited - India
- Jaiprakash Power Ventures ltd
- Directorate Of Revenue Intelligence - India
- Singapore Mercantile Exchange
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