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