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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, 10 January 12
THE 4TH DEEPWATER ASIA CONGRESS 2012 WILL KICK OFF ON MAY 23 - 25
Press release - Based on the past three years’ success, SZ & W Group is excited to announce the 4th Deepwater Asia Congress will be held o ...
Monday, 09 January 12
2012: WHAT WILL IT BRING FOR THE DRY BULK MARKET? - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
A further increase in dry bulk demand could be the remedy for most of the industry's oversupply issues, together of course with the high level of s ...
Sunday, 08 January 12
ICICI OUTLOOK ON INDIAN POWER, MINING,CEMENT, AND SHIPPING SECTORS PERFORMANCE IN 2012
Broking firm, ICICIdirect (India) has come out with report on sectors outlook for 2012. IRIS has collated key highlights for each sector from ...
Sunday, 08 January 12
SUPRAMAX DELIVERY SOUTH CHINA FOR TRIPS VIA INDONESIA WERE REPORTED AROUND $ 7000 PER DAY - VISTAAR
Wish You a Very Happy and Prosperous New year 2012.
COALspot.com - The last report by us was on 16th Dec 2011 and because of holidays this would ...
Sunday, 08 January 12
THARPAK CONSORTIUM FORMED TO DEVELOP MEGA ENERGY COMPLEX IN SINDH PROVINCE, PAKISTAN
Press Release: On January 5th, TharPak, LLC met with officials of the Embassy of Pakistan in Washington DC to introduce and announce the formation o ...
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- Bharathi Cement Corporation - India
- Videocon Industries ltd - India
- Rio Tinto Coal - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Parry Sugars Refinery, India
- Parliament of New Zealand
- Sinarmas Energy and Mining - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Xindia Steels Limited - India
- Bangladesh Power Developement Board
- Binh Thuan Hamico - Vietnam
- Neyveli Lignite Corporation Ltd, - India
- Kumho Petrochemical, South Korea
- Timah Investasi Mineral - Indoneisa
- Larsen & Toubro Limited - India
- ICICI Bank Limited - India
- GVK Power & Infra Limited - India
- Eastern Energy - Thailand
- Latin American Coal - Colombia
- CNBM International Corporation - China
- Therma Luzon, Inc, Philippines
- Kartika Selabumi Mining - Indonesia
- Orica Australia Pty. Ltd.
- Ministry of Finance - Indonesia
- Vedanta Resources Plc - India
- Economic Council, Georgia
- Coalindo Energy - Indonesia
- White Energy Company Limited
- Independent Power Producers Association of India
- The University of Queensland
- Eastern Coal Council - USA
- Meenaskhi Energy Private Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Jindal Steel & Power Ltd - India
- Bhatia International Limited - India
- Sindya Power Generating Company Private Ltd
- Jorong Barutama Greston.PT - Indonesia
- LBH Netherlands Bv - Netherlands
- OPG Power Generation Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- Vizag Seaport Private Limited - India
- Interocean Group of Companies - India
- Gujarat Mineral Development Corp Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Indonesian Coal Mining Association
- Mintek Dendrill Indonesia
- Mercator Lines Limited - India
- Aboitiz Power Corporation - Philippines
- Kohat Cement Company Ltd. - Pakistan
- Uttam Galva Steels Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Banpu Public Company Limited - Thailand
- Orica Mining Services - Indonesia
- Chamber of Mines of South Africa
- Posco Energy - South Korea
- Toyota Tsusho Corporation, Japan
- Sical Logistics Limited - India
- Essar Steel Hazira Ltd - India
- McConnell Dowell - Australia
- Anglo American - United Kingdom
- Indo Tambangraya Megah - Indonesia
- Intertek Mineral Services - Indonesia
- GAC Shipping (India) Pvt Ltd
- Bank of Tokyo Mitsubishi UFJ Ltd
- Gujarat Electricity Regulatory Commission - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Heidelberg Cement - Germany
- Central Java Power - Indonesia
- Commonwealth Bank - Australia
- Manunggal Multi Energi - Indonesia
- Wilmar Investment Holdings
- Deloitte Consulting - India
- Straits Asia Resources Limited - Singapore
- Siam City Cement PLC, Thailand
- Global Business Power Corporation, Philippines
- Grasim Industreis Ltd - India
- Bulk Trading Sa - Switzerland
- India Bulls Power Limited - India
- South Luzon Thermal Energy Corporation
- Dalmia Cement Bharat India
- Kepco SPC Power Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Baramulti Group, Indonesia
- Chettinad Cement Corporation Ltd - India
- Minerals Council of Australia
- CIMB Investment Bank - Malaysia
- Madhucon Powers Ltd - India
- Standard Chartered Bank - UAE
- Antam Resourcindo - Indonesia
- Carbofer General Trading SA - India
- PTC India Limited - India
- Sakthi Sugars Limited - India
- Medco Energi Mining Internasional
- Borneo Indobara - Indonesia
- Price Waterhouse Coopers - Russia
- European Bulk Services B.V. - Netherlands
- Miang Besar Coal Terminal - Indonesia
- Ministry of Mines - Canada
- Australian Coal Association
- IEA Clean Coal Centre - UK
- MS Steel International - UAE
- International Coal Ventures Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- Indian Energy Exchange, India
- Indogreen Group - Indonesia
- Semirara Mining Corp, Philippines
- Maheswari Brothers Coal Limited - India
- Singapore Mercantile Exchange
- Energy Development Corp, Philippines
- PNOC Exploration Corporation - Philippines
- Romanian Commodities Exchange
- Trasteel International SA, Italy
- Rashtriya Ispat Nigam Limited - India
- Thiess Contractors Indonesia
- Star Paper Mills Limited - India
- Ind-Barath Power Infra Limited - India
- Meralco Power Generation, Philippines
- PowerSource Philippines DevCo
- Goldman Sachs - Singapore
- Wood Mackenzie - Singapore
- ASAPP Information Group - India
- Thai Mozambique Logistica
- Power Finance Corporation Ltd., India
- Karbindo Abesyapradhi - Indoneisa
- Karaikal Port Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- San Jose City I Power Corp, Philippines
- Bayan Resources Tbk. - Indonesia
- Samtan Co., Ltd - South Korea
- Port Waratah Coal Services - Australia
- Formosa Plastics Group - Taiwan
- Ceylon Electricity Board - Sri Lanka
- Georgia Ports Authority, United States
- Directorate General of MIneral and Coal - Indonesia
- Renaissance Capital - South Africa
- Petron Corporation, Philippines
- Energy Link Ltd, New Zealand
- Makarim & Taira - Indonesia
- Leighton Contractors Pty Ltd - Australia
- London Commodity Brokers - England
- VISA Power Limited - India
- Kalimantan Lumbung Energi - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Barasentosa Lestari - Indonesia
- Marubeni Corporation - India
- Malabar Cements Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Aditya Birla Group - India
- Globalindo Alam Lestari - Indonesia
- Tamil Nadu electricity Board
- Mercuria Energy - Indonesia
- Cement Manufacturers Association - India
- Ambuja Cements Ltd - India
- Attock Cement Pakistan Limited
- Kaltim Prima Coal - Indonesia
- Savvy Resources Ltd - HongKong
- IHS Mccloskey Coal Group - USA
- Lanco Infratech Ltd - India
- Indika Energy - Indonesia
- Bukit Makmur.PT - Indonesia
- Kapuas Tunggal Persada - Indonesia
- SN Aboitiz Power Inc, Philippines
- Coal and Oil Company - UAE
- GMR Energy Limited - India
- Riau Bara Harum - Indonesia
- Africa Commodities Group - South Africa
- Mjunction Services Limited - India
- Iligan Light & Power Inc, Philippines
- The Treasury - Australian Government
- Bhushan Steel Limited - India
- Siam City Cement - Thailand
- Agrawal Coal Company - India
- Bukit Baiduri Energy - Indonesia
- Jaiprakash Power Ventures ltd
- Altura Mining Limited, Indonesia
- Global Coal Blending Company Limited - Australia
- The State Trading Corporation of India Ltd
- Tata Chemicals Ltd - India
- Sojitz Corporation - Japan
- TNB Fuel Sdn Bhd - Malaysia
- Salva Resources Pvt Ltd - India
- Planning Commission, India
- PetroVietnam Power Coal Import and Supply Company
- Sree Jayajothi Cements Limited - India
- Bhoruka Overseas - Indonesia
- Electricity Generating Authority of Thailand
- Australian Commodity Traders Exchange
- Central Electricity Authority - India
- GN Power Mariveles Coal Plant, Philippines
- TeaM Sual Corporation - Philippines
- Alfred C Toepfer International GmbH - Germany
- Krishnapatnam Port Company Ltd. - India
- Electricity Authority, New Zealand
- Cigading International Bulk Terminal - Indonesia
- Merrill Lynch Commodities Europe
- Gujarat Sidhee Cement - India
- Semirara Mining and Power Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- SMC Global Power, Philippines
- Kobexindo Tractors - Indoneisa
- Sarangani Energy Corporation, Philippines
- Oldendorff Carriers - Singapore
- Ministry of Transport, Egypt
- Asmin Koalindo Tuhup - Indonesia
- SMG Consultants - Indonesia
- Indian Oil Corporation Limited
- Pendopo Energi Batubara - Indonesia
- Simpson Spence & Young - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Global Green Power PLC Corporation, Philippines
- Coastal Gujarat Power Limited - India
- Edison Trading Spa - Italy
- New Zealand Coal & Carbon
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