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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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Sunday, 01 January 12
IS INDIA FOLLOWING INDONESIA TO STANDARDIZE COAL PRICES TO GET MAXIMUM BENEFITS?
COALspot.com - Coal India limited, an Indian state owned and world largest coal producer has introduced gross calorific value (GCV) based pricing me ...
Saturday, 31 December 11
GLOBALCOAL NEWC INDEX SURGED 2.32 PERCENT
COALspot.com - globalCOAL index in Newcastle Port, benchmark for Asian market, ended substantially higher, surged 2.32 percent to US$115.47 per ...
Saturday, 31 December 11
BORNEO LUMBUNG TO BUY BUMI STAKE, SWAP CEO - THE JAKARTA GLOBE
The Jakarta Globe, one of the leading english news paper in Indonesia reported yesterday, shareholders of Indonesian coking coal miner Borneo Lumbun ...
Friday, 30 December 11
CENTRAL GOVERNMENT SHOULD ISSUE PERMITS - THE JAKARTA POST
The Jakarta Post reported that, business associations from both the palm oil and mining sectors have suggested that the central government should re ...
Thursday, 29 December 11
NEW VESSELS DELIVERED ARE FLOODING THE OCEANS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
As expected 2011 has been the year that newbuilding deliveries peaked and kept "flooding" the market, thus supressing freight rates and er ...
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- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Global Business Power Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Wood Mackenzie - Singapore
- Savvy Resources Ltd - HongKong
- Kumho Petrochemical, South Korea
- Karbindo Abesyapradhi - Indoneisa
- Global Coal Blending Company Limited - Australia
- Therma Luzon, Inc, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- CIMB Investment Bank - Malaysia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indonesian Coal Mining Association
- Borneo Indobara - Indonesia
- Wilmar Investment Holdings
- PNOC Exploration Corporation - Philippines
- Romanian Commodities Exchange
- Kideco Jaya Agung - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Attock Cement Pakistan Limited
- Electricity Generating Authority of Thailand
- SMC Global Power, Philippines
- TeaM Sual Corporation - Philippines
- Bulk Trading Sa - Switzerland
- Agrawal Coal Company - India
- Parry Sugars Refinery, India
- Essar Steel Hazira Ltd - India
- Ministry of Transport, Egypt
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Planning Commission, India
- Rashtriya Ispat Nigam Limited - India
- White Energy Company Limited
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- SMG Consultants - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- OPG Power Generation Pvt Ltd - India
- Energy Link Ltd, New Zealand
- Alfred C Toepfer International GmbH - Germany
- Riau Bara Harum - Indonesia
- Globalindo Alam Lestari - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Bharathi Cement Corporation - India
- London Commodity Brokers - England
- Sakthi Sugars Limited - India
- AsiaOL BioFuels Corp., Philippines
- Malabar Cements Ltd - India
- Independent Power Producers Association of India
- Ind-Barath Power Infra Limited - India
- Carbofer General Trading SA - India
- Rio Tinto Coal - Australia
- Larsen & Toubro Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Bahari Cakrawala Sebuku - Indonesia
- Salva Resources Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- Coal and Oil Company - UAE
- IEA Clean Coal Centre - UK
- Indian Energy Exchange, India
- The Treasury - Australian Government
- Antam Resourcindo - Indonesia
- PowerSource Philippines DevCo
- Australian Coal Association
- Bhushan Steel Limited - India
- CNBM International Corporation - China
- Grasim Industreis Ltd - India
- Bayan Resources Tbk. - Indonesia
- Indogreen Group - Indonesia
- Kartika Selabumi Mining - Indonesia
- Jaiprakash Power Ventures ltd
- LBH Netherlands Bv - Netherlands
- Directorate General of MIneral and Coal - Indonesia
- Lanco Infratech Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Heidelberg Cement - Germany
- Tata Chemicals Ltd - India
- Star Paper Mills Limited - India
- GVK Power & Infra Limited - India
- Krishnapatnam Port Company Ltd. - India
- Mercuria Energy - Indonesia
- GAC Shipping (India) Pvt Ltd
- ASAPP Information Group - India
- Parliament of New Zealand
- Vizag Seaport Private Limited - India
- Semirara Mining and Power Corporation, Philippines
- Oldendorff Carriers - Singapore
- Xindia Steels Limited - India
- Orica Mining Services - Indonesia
- Thai Mozambique Logistica
- Cigading International Bulk Terminal - Indonesia
- Coastal Gujarat Power Limited - India
- Standard Chartered Bank - UAE
- Semirara Mining Corp, Philippines
- Manunggal Multi Energi - Indonesia
- Simpson Spence & Young - Indonesia
- Power Finance Corporation Ltd., India
- San Jose City I Power Corp, Philippines
- Bhatia International Limited - India
- Central Electricity Authority - India
- Medco Energi Mining Internasional
- Kaltim Prima Coal - Indonesia
- Jindal Steel & Power Ltd - India
- Barasentosa Lestari - Indonesia
- Bukit Baiduri Energy - Indonesia
- Eastern Coal Council - USA
- Indian Oil Corporation Limited
- Gujarat Electricity Regulatory Commission - India
- Holcim Trading Pte Ltd - Singapore
- Maheswari Brothers Coal Limited - India
- Mintek Dendrill Indonesia
- European Bulk Services B.V. - Netherlands
- Binh Thuan Hamico - Vietnam
- Iligan Light & Power Inc, Philippines
- Indo Tambangraya Megah - Indonesia
- Thiess Contractors Indonesia
- The University of Queensland
- Bhoruka Overseas - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Sree Jayajothi Cements Limited - India
- Edison Trading Spa - Italy
- Makarim & Taira - Indonesia
- Ministry of Finance - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Straits Asia Resources Limited - Singapore
- Aditya Birla Group - India
- Altura Mining Limited, Indonesia
- India Bulls Power Limited - India
- Pendopo Energi Batubara - Indonesia
- MS Steel International - UAE
- Kobexindo Tractors - Indoneisa
- The State Trading Corporation of India Ltd
- IHS Mccloskey Coal Group - USA
- VISA Power Limited - India
- Ministry of Mines - Canada
- Sojitz Corporation - Japan
- Renaissance Capital - South Africa
- Port Waratah Coal Services - Australia
- Karaikal Port Pvt Ltd - India
- Merrill Lynch Commodities Europe
- Chamber of Mines of South Africa
- Toyota Tsusho Corporation, Japan
- Global Green Power PLC Corporation, Philippines
- Mjunction Services Limited - India
- Siam City Cement PLC, Thailand
- Banpu Public Company Limited - Thailand
- Sical Logistics Limited - India
- Chettinad Cement Corporation Ltd - India
- South Luzon Thermal Energy Corporation
- Singapore Mercantile Exchange
- Vijayanagar Sugar Pvt Ltd - India
- Coalindo Energy - Indonesia
- GMR Energy Limited - India
- Deloitte Consulting - India
- Meralco Power Generation, Philippines
- Intertek Mineral Services - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Sarangani Energy Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Price Waterhouse Coopers - Russia
- Minerals Council of Australia
- Mercator Lines Limited - India
- Central Java Power - Indonesia
- Marubeni Corporation - India
- Ceylon Electricity Board - Sri Lanka
- Kalimantan Lumbung Energi - Indonesia
- Commonwealth Bank - Australia
- Electricity Authority, New Zealand
- Neyveli Lignite Corporation Ltd, - India
- Gujarat Mineral Development Corp Ltd - India
- Orica Australia Pty. Ltd.
- Metalloyd Limited - United Kingdom
- Kepco SPC Power Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- SN Aboitiz Power Inc, Philippines
- Meenaskhi Energy Private Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sindya Power Generating Company Private Ltd
- International Coal Ventures Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- Interocean Group of Companies - India
- Ambuja Cements Ltd - India
- ICICI Bank Limited - India
- Cement Manufacturers Association - India
- Leighton Contractors Pty Ltd - Australia
- Samtan Co., Ltd - South Korea
- Videocon Industries ltd - India
- Indika Energy - Indonesia
- Economic Council, Georgia
- Petron Corporation, Philippines
- Dalmia Cement Bharat India
- Uttam Galva Steels Limited - India
- Tamil Nadu electricity Board
- PTC India Limited - India
- Anglo American - United Kingdom
- Timah Investasi Mineral - Indoneisa
- Vedanta Resources Plc - India
- New Zealand Coal & Carbon
- Kohat Cement Company Ltd. - Pakistan
- TNB Fuel Sdn Bhd - Malaysia
- McConnell Dowell - Australia
- Posco Energy - South Korea
- Bangladesh Power Developement Board
- Australian Commodity Traders Exchange
- Energy Development Corp, Philippines
- Georgia Ports Authority, United States
- Goldman Sachs - Singapore
- Baramulti Group, Indonesia
- Latin American Coal - Colombia
- Aboitiz Power Corporation - Philippines
- Africa Commodities Group - South Africa
- Trasteel International SA, Italy
- Gujarat Sidhee Cement - India
- Siam City Cement - Thailand
- Eastern Energy - Thailand
- Madhucon Powers Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Kapuas Tunggal Persada - Indonesia
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