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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, 24 December 11
CHINAS LEVEL OF GROWTH TO DETERMINE COURSE OF DRY BULK MARKET IN 2012 SAYS SHIPBROKER - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
In its latest report, shipbroker Intermodal attempted to find a silver lining in the tough year that was 2011, as well as what one could expect from ...
Friday, 23 December 11
SPOT PACIFIC CAPESIZE VESSELS HAVE COMMANDED HIGH PREMIUMS - FEARNLEYS
Handy
Rates in the Atlantic kept stable from last week, with a touch of negativity closer to the end. Less spot cargoes seen, and owners are ...
Friday, 23 December 11
CONTENTIOUS ISSUES IN CONTRACT RENEGOTIATION - THE JAKARTA POST
The government has been renegotiating mining contracts, especially those 30-40 years old, with almost all mining companies, including PT Freeport In ...
Friday, 23 December 11
LANCO JOINS HANDS WITH BUKIT ASAM FOR INDONESIAN POWER PROJECT
COALspot.com - PT Tambang Batubara Bukit Asam, Indonesia's state owned coal miner and Indian based Lanco Infratech Ltd plans to build steam power p ...
Thursday, 22 December 11
RI WILL NOT PLAY CATCH-UP WITH GLOBAL COAL DEMAND - THE JAKARTA POST
The Jakarta Post reported that, the International Energy Agency (IEA) has predicted in its Coal Market Report 2011 that over the next five years, gl ...
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- Anglo American - United Kingdom
- Price Waterhouse Coopers - Russia
- Ambuja Cements Ltd - India
- Essar Steel Hazira Ltd - India
- Kepco SPC Power Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- Star Paper Mills Limited - India
- Semirara Mining and Power Corporation, Philippines
- Borneo Indobara - Indonesia
- Indogreen Group - Indonesia
- Agrawal Coal Company - India
- IHS Mccloskey Coal Group - USA
- Bank of Tokyo Mitsubishi UFJ Ltd
- Heidelberg Cement - Germany
- Marubeni Corporation - India
- Meralco Power Generation, Philippines
- Madhucon Powers Ltd - India
- Xindia Steels Limited - India
- Kaltim Prima Coal - Indonesia
- MS Steel International - UAE
- OPG Power Generation Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- IEA Clean Coal Centre - UK
- Africa Commodities Group - South Africa
- Vedanta Resources Plc - India
- Tata Chemicals Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Sree Jayajothi Cements Limited - India
- Larsen & Toubro Limited - India
- Baramulti Group, Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- New Zealand Coal & Carbon
- Energy Development Corp, Philippines
- Chettinad Cement Corporation Ltd - India
- Central Java Power - Indonesia
- Tamil Nadu electricity Board
- GAC Shipping (India) Pvt Ltd
- Aboitiz Power Corporation - Philippines
- Petron Corporation, Philippines
- Power Finance Corporation Ltd., India
- Eastern Coal Council - USA
- Minerals Council of Australia
- Lanco Infratech Ltd - India
- Antam Resourcindo - Indonesia
- Ministry of Transport, Egypt
- Parry Sugars Refinery, India
- Bayan Resources Tbk. - Indonesia
- Timah Investasi Mineral - Indoneisa
- Directorate General of MIneral and Coal - Indonesia
- Georgia Ports Authority, United States
- Port Waratah Coal Services - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Uttam Galva Steels Limited - India
- Siam City Cement PLC, Thailand
- Coastal Gujarat Power Limited - India
- Grasim Industreis Ltd - India
- Banpu Public Company Limited - Thailand
- Thai Mozambique Logistica
- Coalindo Energy - Indonesia
- Altura Mining Limited, Indonesia
- Indika Energy - Indonesia
- Economic Council, Georgia
- GMR Energy Limited - India
- Meenaskhi Energy Private Limited - India
- Global Green Power PLC Corporation, Philippines
- CIMB Investment Bank - Malaysia
- Savvy Resources Ltd - HongKong
- Bangladesh Power Developement Board
- Globalindo Alam Lestari - Indonesia
- Medco Energi Mining Internasional
- Straits Asia Resources Limited - Singapore
- Carbofer General Trading SA - India
- GVK Power & Infra Limited - India
- The University of Queensland
- The Treasury - Australian Government
- PTC India Limited - India
- Bulk Trading Sa - Switzerland
- Wood Mackenzie - Singapore
- Karbindo Abesyapradhi - Indoneisa
- Kohat Cement Company Ltd. - Pakistan
- Kobexindo Tractors - Indoneisa
- Bhoruka Overseas - Indonesia
- Commonwealth Bank - Australia
- PNOC Exploration Corporation - Philippines
- Siam City Cement - Thailand
- McConnell Dowell - Australia
- Posco Energy - South Korea
- Metalloyd Limited - United Kingdom
- Samtan Co., Ltd - South Korea
- Semirara Mining Corp, Philippines
- Energy Link Ltd, New Zealand
- VISA Power Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Karaikal Port Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- Indo Tambangraya Megah - Indonesia
- Gujarat Sidhee Cement - India
- Bhatia International Limited - India
- Mercuria Energy - Indonesia
- Wilmar Investment Holdings
- Mercator Lines Limited - India
- Iligan Light & Power Inc, Philippines
- Bhushan Steel Limited - India
- SN Aboitiz Power Inc, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Jaiprakash Power Ventures ltd
- Kartika Selabumi Mining - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Krishnapatnam Port Company Ltd. - India
- CNBM International Corporation - China
- PetroVietnam Power Coal Import and Supply Company
- Leighton Contractors Pty Ltd - Australia
- Australian Coal Association
- Goldman Sachs - Singapore
- Chamber of Mines of South Africa
- Cigading International Bulk Terminal - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- ASAPP Information Group - India
- TeaM Sual Corporation - Philippines
- Intertek Mineral Services - Indonesia
- Renaissance Capital - South Africa
- ICICI Bank Limited - India
- Sojitz Corporation - Japan
- Therma Luzon, Inc, Philippines
- Ind-Barath Power Infra Limited - India
- Makarim & Taira - Indonesia
- Interocean Group of Companies - India
- Asmin Koalindo Tuhup - Indonesia
- Indian Energy Exchange, India
- Australian Commodity Traders Exchange
- Singapore Mercantile Exchange
- Romanian Commodities Exchange
- Gujarat Mineral Development Corp Ltd - India
- Cement Manufacturers Association - India
- Holcim Trading Pte Ltd - Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- London Commodity Brokers - England
- Electricity Generating Authority of Thailand
- Electricity Authority, New Zealand
- PowerSource Philippines DevCo
- Ministry of Finance - Indonesia
- Manunggal Multi Energi - Indonesia
- SMC Global Power, Philippines
- South Luzon Thermal Energy Corporation
- Trasteel International SA, Italy
- Mintek Dendrill Indonesia
- Planning Commission, India
- Rashtriya Ispat Nigam Limited - India
- Global Business Power Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Binh Thuan Hamico - Vietnam
- Edison Trading Spa - Italy
- Orica Australia Pty. Ltd.
- Indian Oil Corporation Limited
- Gujarat Electricity Regulatory Commission - India
- Malabar Cements Ltd - India
- San Jose City I Power Corp, Philippines
- Ministry of Mines - Canada
- Riau Bara Harum - Indonesia
- Videocon Industries ltd - India
- Latin American Coal - Colombia
- Mjunction Services Limited - India
- Orica Mining Services - Indonesia
- Sinarmas Energy and Mining - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Maheswari Brothers Coal Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sindya Power Generating Company Private Ltd
- Jindal Steel & Power Ltd - India
- Thiess Contractors Indonesia
- Simpson Spence & Young - Indonesia
- Aditya Birla Group - India
- Deloitte Consulting - India
- Bukit Baiduri Energy - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Global Coal Blending Company Limited - Australia
- Miang Besar Coal Terminal - Indonesia
- Central Electricity Authority - India
- Eastern Energy - Thailand
- Directorate Of Revenue Intelligence - India
- Salva Resources Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Merrill Lynch Commodities Europe
- India Bulls Power Limited - India
- Coal and Oil Company - UAE
- Ceylon Electricity Board - Sri Lanka
- Independent Power Producers Association of India
- White Energy Company Limited
- Sakthi Sugars Limited - India
- Kideco Jaya Agung - Indonesia
- Vizag Seaport Private Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Oldendorff Carriers - Singapore
- Attock Cement Pakistan Limited
- The State Trading Corporation of India Ltd
- Dalmia Cement Bharat India
- Kumho Petrochemical, South Korea
- Rio Tinto Coal - Australia
- Pendopo Energi Batubara - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Bukit Makmur.PT - Indonesia
- Kapuas Tunggal Persada - Indonesia
- International Coal Ventures Pvt Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Standard Chartered Bank - UAE
- LBH Netherlands Bv - Netherlands
- Sarangani Energy Corporation, Philippines
- Indonesian Coal Mining Association
- Bharathi Cement Corporation - India
- Toyota Tsusho Corporation, Japan
- Parliament of New Zealand
- Sical Logistics Limited - India
- SMG Consultants - Indonesia
- Barasentosa Lestari - Indonesia
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