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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, 27 December 11
MINERS MAKE CASE FOR RESUMING CONTRACT NEGOTIATIONS - THE JAKARTA POST
The Jakarta Post reported that, problems with the renegotiation of mining contracts in the country are far from over, as agreements on several cruci ...
Tuesday, 27 December 11
COAL SHIPMENT OF TIANJIN PORT REACHED 6.72 MLN TONNES IN NOVEMBER - STEEL HOME / HELLENIC SHIPPING
Tianjin port shipped 6.72 million tonnes of coal in November, decreasing 600,000 tonnes versus 7.32 million tonnes in October, while up 21.09% or 1. ...
Tuesday, 27 December 11
NEW CLAUSE PUBLISHED FOR SLOW STEAMING - BIMCO
Many owners and operators faced with high bunker prices are considering implementing slow steaming regimes to save fuel and to assist with capacity ...
Monday, 26 December 11
NEW EXPORT TAX PLAN GREETED WITH PRAISE AND CRITICISM - THE JAKARTA POST
The Jakarta Post, one of the Indonesia's leading english news paper reported that, both praise and criticism showered the government’s plan t ...
Sunday, 25 December 11
THERMAL COAL PRICES GAINED UP TO 4.32 PERCENT
COALspot.com - globalCOAL index gained 4.32 percent to US$106.36 per ton in RBCT, benchmark for South Asia and West Europe markets, for the week end ...
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Showing 4911 to 4915 news of total 6871 |
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- Sakthi Sugars Limited - India
- Orica Australia Pty. Ltd.
- Central Java Power - Indonesia
- Vizag Seaport Private Limited - India
- Krishnapatnam Port Company Ltd. - India
- ICICI Bank Limited - India
- VISA Power Limited - India
- Bayan Resources Tbk. - Indonesia
- Ministry of Mines - Canada
- Metalloyd Limited - United Kingdom
- Parliament of New Zealand
- Karbindo Abesyapradhi - Indoneisa
- Mercator Lines Limited - India
- Videocon Industries ltd - India
- Anglo American - United Kingdom
- Siam City Cement - Thailand
- Bhoruka Overseas - Indonesia
- Malabar Cements Ltd - India
- Vedanta Resources Plc - India
- Holcim Trading Pte Ltd - Singapore
- TeaM Sual Corporation - Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Intertek Mineral Services - Indonesia
- Standard Chartered Bank - UAE
- International Coal Ventures Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- Australian Commodity Traders Exchange
- SN Aboitiz Power Inc, Philippines
- Uttam Galva Steels Limited - India
- Kideco Jaya Agung - Indonesia
- Rio Tinto Coal - Australia
- Global Business Power Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Deloitte Consulting - India
- SMG Consultants - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Cement Manufacturers Association - India
- Aditya Birla Group - India
- Wood Mackenzie - Singapore
- GVK Power & Infra Limited - India
- Latin American Coal - Colombia
- Minerals Council of Australia
- Lanco Infratech Ltd - India
- Salva Resources Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- Ambuja Cements Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Mercuria Energy - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Global Green Power PLC Corporation, Philippines
- Marubeni Corporation - India
- Indonesian Coal Mining Association
- Indo Tambangraya Megah - Indonesia
- Coal and Oil Company - UAE
- Sinarmas Energy and Mining - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Altura Mining Limited, Indonesia
- The State Trading Corporation of India Ltd
- Parry Sugars Refinery, India
- White Energy Company Limited
- Thai Mozambique Logistica
- Indian Oil Corporation Limited
- Bangladesh Power Developement Board
- Kohat Cement Company Ltd. - Pakistan
- Kapuas Tunggal Persada - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Power Finance Corporation Ltd., India
- Bharathi Cement Corporation - India
- Coalindo Energy - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Jaiprakash Power Ventures ltd
- Planning Commission, India
- Indogreen Group - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ceylon Electricity Board - Sri Lanka
- Riau Bara Harum - Indonesia
- Price Waterhouse Coopers - Russia
- Central Electricity Authority - India
- Chamber of Mines of South Africa
- Ind-Barath Power Infra Limited - India
- Indika Energy - Indonesia
- Global Coal Blending Company Limited - Australia
- European Bulk Services B.V. - Netherlands
- Heidelberg Cement - Germany
- Energy Development Corp, Philippines
- Medco Energi Mining Internasional
- Mjunction Services Limited - India
- Australian Coal Association
- South Luzon Thermal Energy Corporation
- Interocean Group of Companies - India
- AsiaOL BioFuels Corp., Philippines
- Therma Luzon, Inc, Philippines
- Attock Cement Pakistan Limited
- Tata Chemicals Ltd - India
- Star Paper Mills Limited - India
- Bukit Baiduri Energy - Indonesia
- Independent Power Producers Association of India
- Bhushan Steel Limited - India
- Indian Energy Exchange, India
- LBH Netherlands Bv - Netherlands
- Petrochimia International Co. Ltd.- Taiwan
- Bahari Cakrawala Sebuku - Indonesia
- Xindia Steels Limited - India
- The Treasury - Australian Government
- Maheswari Brothers Coal Limited - India
- Tamil Nadu electricity Board
- Economic Council, Georgia
- Romanian Commodities Exchange
- Madhucon Powers Ltd - India
- Essar Steel Hazira Ltd - India
- Baramulti Group, Indonesia
- Coastal Gujarat Power Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Gujarat Sidhee Cement - India
- Chettinad Cement Corporation Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Eastern Energy - Thailand
- Toyota Tsusho Corporation, Japan
- Kumho Petrochemical, South Korea
- Offshore Bulk Terminal Pte Ltd, Singapore
- Trasteel International SA, Italy
- Sarangani Energy Corporation, Philippines
- Savvy Resources Ltd - HongKong
- Ministry of Transport, Egypt
- Georgia Ports Authority, United States
- India Bulls Power Limited - India
- GMR Energy Limited - India
- Miang Besar Coal Terminal - Indonesia
- Borneo Indobara - Indonesia
- IEA Clean Coal Centre - UK
- PNOC Exploration Corporation - Philippines
- Binh Thuan Hamico - Vietnam
- Bulk Trading Sa - Switzerland
- Aboitiz Power Corporation - Philippines
- Directorate General of MIneral and Coal - Indonesia
- Mintek Dendrill Indonesia
- Samtan Co., Ltd - South Korea
- Sree Jayajothi Cements Limited - India
- Ministry of Finance - Indonesia
- Port Waratah Coal Services - Australia
- Kobexindo Tractors - Indoneisa
- Meralco Power Generation, Philippines
- New Zealand Coal & Carbon
- Cigading International Bulk Terminal - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- PowerSource Philippines DevCo
- Neyveli Lignite Corporation Ltd, - India
- Electricity Generating Authority of Thailand
- Africa Commodities Group - South Africa
- Electricity Authority, New Zealand
- IHS Mccloskey Coal Group - USA
- Globalindo Alam Lestari - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Simpson Spence & Young - Indonesia
- CIMB Investment Bank - Malaysia
- PTC India Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Directorate Of Revenue Intelligence - India
- Sojitz Corporation - Japan
- Manunggal Multi Energi - Indonesia
- Energy Link Ltd, New Zealand
- Gujarat Electricity Regulatory Commission - India
- Commonwealth Bank - Australia
- Singapore Mercantile Exchange
- Orica Mining Services - Indonesia
- Kepco SPC Power Corporation, Philippines
- Carbofer General Trading SA - India
- Dalmia Cement Bharat India
- The University of Queensland
- Karaikal Port Pvt Ltd - India
- Sical Logistics Limited - India
- Posco Energy - South Korea
- Edison Trading Spa - Italy
- CNBM International Corporation - China
- Larsen & Toubro Limited - India
- Oldendorff Carriers - Singapore
- GAC Shipping (India) Pvt Ltd
- ASAPP Information Group - India
- Renaissance Capital - South Africa
- Vijayanagar Sugar Pvt Ltd - India
- Semirara Mining Corp, Philippines
- Antam Resourcindo - Indonesia
- Straits Asia Resources Limited - Singapore
- SMC Global Power, Philippines
- Leighton Contractors Pty Ltd - Australia
- Merrill Lynch Commodities Europe
- Agrawal Coal Company - India
- Banpu Public Company Limited - Thailand
- London Commodity Brokers - England
- Gujarat Mineral Development Corp Ltd - India
- Kaltim Prima Coal - Indonesia
- OPG Power Generation Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- Jindal Steel & Power Ltd - India
- Pendopo Energi Batubara - Indonesia
- Wilmar Investment Holdings
- TNB Fuel Sdn Bhd - Malaysia
- Makarim & Taira - Indonesia
- Meenaskhi Energy Private Limited - India
- Sindya Power Generating Company Private Ltd
- Barasentosa Lestari - Indonesia
- Petron Corporation, Philippines
- Siam City Cement PLC, Thailand
- Thiess Contractors Indonesia
- Timah Investasi Mineral - Indoneisa
- Grasim Industreis Ltd - India
- MS Steel International - UAE
- Eastern Coal Council - USA
- Goldman Sachs - Singapore
- Kartika Selabumi Mining - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bhatia International Limited - India
- McConnell Dowell - Australia
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