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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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Saturday, 07 January 12
COAL MARKETS SEE FALLING SPOT PRICES
COALspot.com – World’s thermal coal spot prices have slipped this week..
globalCOAL index in Newcastle Port, benchmark for Asian mark ...
Friday, 06 January 12
COAL INDIA LINKED COAL PRICES WITH INTERNATIONAL COAL PRICES
COALspot.com - Consumers of indigenous coal in India to pay International prices in the future. Coal India has recently moved from UHV pricing mecha ...
Friday, 06 January 12
CLARIDEN GLOBAL BRINGS YOU INDONESIA MINING 2012
Capitalizing Business & Investment Opportunities in an Uncertain Market.Press Release - Clariden Global brings you Indonesia Mining 2012, the dedi ...
Friday, 06 January 12
THE PANAMAX MARKET EXPERIENCED A SLOW START TO 2012 - FEARNLEYS AS
Handy
As usual after a holiday owners and charterers both try to get a feel of the market. An Armada of Supras were talking to ballast towards USG, ...
Thursday, 05 January 12
DRY BULK MARKET TAKES A PLUNGE OF LOW ACTIVITY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
As was widely expected the first days of the new year are characterized by significantly low chartering across the board of the dry bulk market, pus ...
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- CNBM International Corporation - China
- Africa Commodities Group - South Africa
- Ceylon Electricity Board - Sri Lanka
- Grasim Industreis Ltd - India
- Madhucon Powers Ltd - India
- Oldendorff Carriers - Singapore
- Eastern Energy - Thailand
- Sindya Power Generating Company Private Ltd
- Bangladesh Power Developement Board
- Siam City Cement - Thailand
- Anglo American - United Kingdom
- Xindia Steels Limited - India
- IEA Clean Coal Centre - UK
- Ministry of Transport, Egypt
- Bayan Resources Tbk. - Indonesia
- Global Business Power Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Petron Corporation, Philippines
- Central Java Power - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Bukit Makmur.PT - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- GAC Shipping (India) Pvt Ltd
- The Treasury - Australian Government
- Globalindo Alam Lestari - Indonesia
- Indika Energy - Indonesia
- ASAPP Information Group - India
- Meenaskhi Energy Private Limited - India
- Ind-Barath Power Infra Limited - India
- Krishnapatnam Port Company Ltd. - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sakthi Sugars Limited - India
- Indonesian Coal Mining Association
- Dalmia Cement Bharat India
- Marubeni Corporation - India
- Indo Tambangraya Megah - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Posco Energy - South Korea
- Gujarat Sidhee Cement - India
- Edison Trading Spa - Italy
- Formosa Plastics Group - Taiwan
- Jaiprakash Power Ventures ltd
- Sical Logistics Limited - India
- SMG Consultants - Indonesia
- Aboitiz Power Corporation - Philippines
- TeaM Sual Corporation - Philippines
- Banpu Public Company Limited - Thailand
- Bharathi Cement Corporation - India
- Essar Steel Hazira Ltd - India
- Bulk Trading Sa - Switzerland
- Mercuria Energy - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Energy Development Corp, Philippines
- IHS Mccloskey Coal Group - USA
- Vijayanagar Sugar Pvt Ltd - India
- Vizag Seaport Private Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Commonwealth Bank - Australia
- Indian Energy Exchange, India
- Bhoruka Overseas - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Riau Bara Harum - Indonesia
- PTC India Limited - India
- Latin American Coal - Colombia
- PowerSource Philippines DevCo
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Attock Cement Pakistan Limited
- Romanian Commodities Exchange
- Singapore Mercantile Exchange
- Salva Resources Pvt Ltd - India
- London Commodity Brokers - England
- Ministry of Finance - Indonesia
- Minerals Council of Australia
- Bahari Cakrawala Sebuku - Indonesia
- Economic Council, Georgia
- Power Finance Corporation Ltd., India
- Ministry of Mines - Canada
- Timah Investasi Mineral - Indoneisa
- Deloitte Consulting - India
- Rashtriya Ispat Nigam Limited - India
- Energy Link Ltd, New Zealand
- McConnell Dowell - Australia
- Indian Oil Corporation Limited
- Siam City Cement PLC, Thailand
- Chamber of Mines of South Africa
- Georgia Ports Authority, United States
- PNOC Exploration Corporation - Philippines
- Larsen & Toubro Limited - India
- Thiess Contractors Indonesia
- Coalindo Energy - Indonesia
- SN Aboitiz Power Inc, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Savvy Resources Ltd - HongKong
- Jorong Barutama Greston.PT - Indonesia
- Kideco Jaya Agung - Indonesia
- Kobexindo Tractors - Indoneisa
- TNB Fuel Sdn Bhd - Malaysia
- Kaltim Prima Coal - Indonesia
- MS Steel International - UAE
- Holcim Trading Pte Ltd - Singapore
- Carbofer General Trading SA - India
- Price Waterhouse Coopers - Russia
- Merrill Lynch Commodities Europe
- Gujarat Electricity Regulatory Commission - India
- Makarim & Taira - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Binh Thuan Hamico - Vietnam
- Mjunction Services Limited - India
- Videocon Industries ltd - India
- Trasteel International SA, Italy
- The University of Queensland
- Bhatia International Limited - India
- AsiaOL BioFuels Corp., Philippines
- Cement Manufacturers Association - India
- CIMB Investment Bank - Malaysia
- Mintek Dendrill Indonesia
- ICICI Bank Limited - India
- The State Trading Corporation of India Ltd
- Toyota Tsusho Corporation, Japan
- Bhushan Steel Limited - India
- Straits Asia Resources Limited - Singapore
- Parry Sugars Refinery, India
- Vedanta Resources Plc - India
- Billiton Holdings Pty Ltd - Australia
- Global Green Power PLC Corporation, Philippines
- Sojitz Corporation - Japan
- Bukit Asam (Persero) Tbk - Indonesia
- Eastern Coal Council - USA
- Intertek Mineral Services - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Baramulti Group, Indonesia
- Interocean Group of Companies - India
- International Coal Ventures Pvt Ltd - India
- Independent Power Producers Association of India
- Global Coal Blending Company Limited - Australia
- Wood Mackenzie - Singapore
- LBH Netherlands Bv - Netherlands
- Parliament of New Zealand
- Kumho Petrochemical, South Korea
- Karbindo Abesyapradhi - Indoneisa
- Therma Luzon, Inc, Philippines
- Kepco SPC Power Corporation, Philippines
- White Energy Company Limited
- Indogreen Group - Indonesia
- Meralco Power Generation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Sree Jayajothi Cements Limited - India
- Antam Resourcindo - Indonesia
- Simpson Spence & Young - Indonesia
- Heidelberg Cement - Germany
- Aditya Birla Group - India
- Standard Chartered Bank - UAE
- Coal and Oil Company - UAE
- Port Waratah Coal Services - Australia
- SMC Global Power, Philippines
- VISA Power Limited - India
- Thai Mozambique Logistica
- Tata Chemicals Ltd - India
- Star Paper Mills Limited - India
- European Bulk Services B.V. - Netherlands
- Agrawal Coal Company - India
- Central Electricity Authority - India
- Altura Mining Limited, Indonesia
- OPG Power Generation Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- Electricity Authority, New Zealand
- Renaissance Capital - South Africa
- Lanco Infratech Ltd - India
- Bukit Baiduri Energy - Indonesia
- Australian Coal Association
- Mercator Lines Limited - India
- GMR Energy Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Wilmar Investment Holdings
- Pendopo Energi Batubara - Indonesia
- Jindal Steel & Power Ltd - India
- Australian Commodity Traders Exchange
- Sarangani Energy Corporation, Philippines
- Coastal Gujarat Power Limited - India
- Malabar Cements Ltd - India
- Metalloyd Limited - United Kingdom
- Samtan Co., Ltd - South Korea
- Karaikal Port Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Iligan Light & Power Inc, Philippines
- Electricity Generating Authority of Thailand
- Orica Mining Services - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- New Zealand Coal & Carbon
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Uttam Galva Steels Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Ambuja Cements Ltd - India
- India Bulls Power Limited - India
- Chettinad Cement Corporation Ltd - India
- Borneo Indobara - Indonesia
- San Jose City I Power Corp, Philippines
- Kartika Selabumi Mining - Indonesia
- Barasentosa Lestari - Indonesia
- Maheswari Brothers Coal Limited - India
- Goldman Sachs - Singapore
- Semirara Mining Corp, Philippines
- GVK Power & Infra Limited - India
- Planning Commission, India
- Manunggal Multi Energi - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Tamil Nadu electricity Board
- Miang Besar Coal Terminal - Indonesia
- Orica Australia Pty. Ltd.
- PetroVietnam Power Coal Import and Supply Company
- Directorate Of Revenue Intelligence - India
- Medco Energi Mining Internasional
- Rio Tinto Coal - Australia
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