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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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Wednesday, 04 January 12
NEWBUILDING ORDERS PICKED UP IN 2011, BUT 2012 EXPECTED TO BE A DIFFERENT STORY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
With the BDI (Baltic Dry Index) starting the year on a sour note, losing 114 points and ending yesterday’s session, the first of the new year, ...
Wednesday, 04 January 12
MAHAGENCO TO IMPORT LOW MOISTURE COAL
COALspot.com - Maharashtra State Power Generation Co. Ltd. is the state power generation utility owned by Government of Maharashtra, intends to proc ...
Tuesday, 03 January 12
INDONESIA COAL REFERENCE PRICE FELL AGAIN
COALspot.com - Ministry of Energy and Mineral Resources of Indonesia has sets the January 2012 coal reference price at US$ 109.29 per ton or US$ 3.3 ...
Tuesday, 03 January 12
WHICH WAY WILL THE DRY BULK MARKET HEAD ON FIRST WEEK OF THE YEAR? - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Dry bulk ship owners will be wondering which way will the BDI (Baltic Dry Index), the industry’s benchmark, will head during the first days of ...
Monday, 02 January 12
THE PROMISE OF INDIA: A BRIEF INTERRUPTION? - CLARKSONS / HELLENIC SHIPPING
Future growth in Indian seaborne coal imports has sometimes been considered as one of the largest potential upsides in the currently oversupplied dr ...
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- Ambuja Cements Ltd - India
- Thai Mozambique Logistica
- Makarim & Taira - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Antam Resourcindo - Indonesia
- Bayan Resources Tbk. - Indonesia
- Indonesian Coal Mining Association
- GVK Power & Infra Limited - India
- Pendopo Energi Batubara - Indonesia
- Maheswari Brothers Coal Limited - India
- South Luzon Thermal Energy Corporation
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indian Energy Exchange, India
- Kapuas Tunggal Persada - Indonesia
- International Coal Ventures Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Baramulti Group, Indonesia
- Attock Cement Pakistan Limited
- Formosa Plastics Group - Taiwan
- White Energy Company Limited
- Therma Luzon, Inc, Philippines
- Power Finance Corporation Ltd., India
- Bukit Makmur.PT - Indonesia
- Standard Chartered Bank - UAE
- Economic Council, Georgia
- Directorate General of MIneral and Coal - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Bhatia International Limited - India
- Xindia Steels Limited - India
- Directorate Of Revenue Intelligence - India
- Ministry of Finance - Indonesia
- New Zealand Coal & Carbon
- Riau Bara Harum - Indonesia
- Bharathi Cement Corporation - India
- TNB Fuel Sdn Bhd - Malaysia
- Mercuria Energy - Indonesia
- Bhoruka Overseas - Indonesia
- Mjunction Services Limited - India
- Rio Tinto Coal - Australia
- Jindal Steel & Power Ltd - India
- Energy Development Corp, Philippines
- OPG Power Generation Pvt Ltd - India
- IEA Clean Coal Centre - UK
- Pipit Mutiara Jaya. PT, Indonesia
- Bulk Trading Sa - Switzerland
- Indian Oil Corporation Limited
- Orica Mining Services - Indonesia
- Anglo American - United Kingdom
- Central Java Power - Indonesia
- VISA Power Limited - India
- SMG Consultants - Indonesia
- Planning Commission, India
- Wood Mackenzie - Singapore
- Madhucon Powers Ltd - India
- Simpson Spence & Young - Indonesia
- Barasentosa Lestari - Indonesia
- Sindya Power Generating Company Private Ltd
- Vizag Seaport Private Limited - India
- GAC Shipping (India) Pvt Ltd
- Trasteel International SA, Italy
- LBH Netherlands Bv - Netherlands
- Straits Asia Resources Limited - Singapore
- Ceylon Electricity Board - Sri Lanka
- Meenaskhi Energy Private Limited - India
- Uttam Galva Steels Limited - India
- Vedanta Resources Plc - India
- Timah Investasi Mineral - Indoneisa
- Kumho Petrochemical, South Korea
- Price Waterhouse Coopers - Russia
- Chamber of Mines of South Africa
- Kohat Cement Company Ltd. - Pakistan
- Kartika Selabumi Mining - Indonesia
- Bangladesh Power Developement Board
- Gujarat Mineral Development Corp Ltd - India
- Global Business Power Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Eastern Energy - Thailand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- TeaM Sual Corporation - Philippines
- Interocean Group of Companies - India
- Australian Commodity Traders Exchange
- Sarangani Energy Corporation, Philippines
- Sojitz Corporation - Japan
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- Tata Chemicals Ltd - India
- Mintek Dendrill Indonesia
- Parry Sugars Refinery, India
- London Commodity Brokers - England
- Sakthi Sugars Limited - India
- Mercator Lines Limited - India
- Romanian Commodities Exchange
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Wilmar Investment Holdings
- Coalindo Energy - Indonesia
- The University of Queensland
- Semirara Mining Corp, Philippines
- Siam City Cement - Thailand
- Australian Coal Association
- Siam City Cement PLC, Thailand
- Semirara Mining and Power Corporation, Philippines
- Samtan Co., Ltd - South Korea
- Borneo Indobara - Indonesia
- Kobexindo Tractors - Indoneisa
- Sinarmas Energy and Mining - Indonesia
- European Bulk Services B.V. - Netherlands
- Central Electricity Authority - India
- Indogreen Group - Indonesia
- Electricity Generating Authority of Thailand
- SMC Global Power, Philippines
- Bukit Baiduri Energy - Indonesia
- Essar Steel Hazira Ltd - India
- Kaltim Prima Coal - Indonesia
- Independent Power Producers Association of India
- Bhushan Steel Limited - India
- CIMB Investment Bank - Malaysia
- Star Paper Mills Limited - India
- Aditya Birla Group - India
- AsiaOL BioFuels Corp., Philippines
- San Jose City I Power Corp, Philippines
- ICICI Bank Limited - India
- Renaissance Capital - South Africa
- Bank of Tokyo Mitsubishi UFJ Ltd
- The State Trading Corporation of India Ltd
- Bahari Cakrawala Sebuku - Indonesia
- Goldman Sachs - Singapore
- Vijayanagar Sugar Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Ministry of Transport, Egypt
- Port Waratah Coal Services - Australia
- Jaiprakash Power Ventures ltd
- Commonwealth Bank - Australia
- Grasim Industreis Ltd - India
- Aboitiz Power Corporation - Philippines
- Medco Energi Mining Internasional
- Electricity Authority, New Zealand
- Videocon Industries ltd - India
- Carbofer General Trading SA - India
- Intertek Mineral Services - Indonesia
- Global Green Power PLC Corporation, Philippines
- Savvy Resources Ltd - HongKong
- Kideco Jaya Agung - Indonesia
- Energy Link Ltd, New Zealand
- Minerals Council of Australia
- Deloitte Consulting - India
- Leighton Contractors Pty Ltd - Australia
- CNBM International Corporation - China
- Parliament of New Zealand
- IHS Mccloskey Coal Group - USA
- PowerSource Philippines DevCo
- Indo Tambangraya Megah - Indonesia
- Merrill Lynch Commodities Europe
- Tamil Nadu electricity Board
- Metalloyd Limited - United Kingdom
- Oldendorff Carriers - Singapore
- Salva Resources Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Cement Manufacturers Association - India
- Krishnapatnam Port Company Ltd. - India
- Indika Energy - Indonesia
- Iligan Light & Power Inc, Philippines
- Chettinad Cement Corporation Ltd - India
- Sical Logistics Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Ministry of Mines - Canada
- Petron Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- Altura Mining Limited, Indonesia
- Karaikal Port Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- Heidelberg Cement - Germany
- Coal and Oil Company - UAE
- Marubeni Corporation - India
- Banpu Public Company Limited - Thailand
- ASAPP Information Group - India
- Thiess Contractors Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Meralco Power Generation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Lanco Infratech Ltd - India
- PTC India Limited - India
- Dalmia Cement Bharat India
- PetroVietnam Power Coal Import and Supply Company
- Coastal Gujarat Power Limited - India
- Posco Energy - South Korea
- Gujarat Sidhee Cement - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- PNOC Exploration Corporation - Philippines
- India Bulls Power Limited - India
- Singapore Mercantile Exchange
- Latin American Coal - Colombia
- Miang Besar Coal Terminal - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Globalindo Alam Lestari - Indonesia
- Georgia Ports Authority, United States
- Global Coal Blending Company Limited - Australia
- Africa Commodities Group - South Africa
- Gujarat Electricity Regulatory Commission - India
- Toyota Tsusho Corporation, Japan
- Rashtriya Ispat Nigam Limited - India
- Binh Thuan Hamico - Vietnam
- Cigading International Bulk Terminal - Indonesia
- Kepco SPC Power Corporation, Philippines
- Eastern Coal Council - USA
- Petrochimia International Co. Ltd.- Taiwan
- Edison Trading Spa - Italy
- MS Steel International - UAE
- Malabar Cements Ltd - India
- Agrawal Coal Company - India
- Larsen & Toubro Limited - India
- The Treasury - Australian Government
- GMR Energy Limited - India
- Orica Australia Pty. Ltd.
- McConnell Dowell - Australia
- SN Aboitiz Power Inc, Philippines
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