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Tuesday, 23 August 11
ADARO ENERGY ACQUIRES 75% STAKE OF PT MUSTIKA INDAH PERMAI FOR US$ 222.5 MILLION
COALspot.com - PT Alam Tri Abadi, a wholly owned subsidiary of PT Adaro Energy Tbk, signed a share purchase agreement to acquire a 75% stake of PT Mustika Indah Permai ("MIP") from Elite Rich Investment Limited for US$ 222.5 million on 19 August 2011, according to statement issued by PT Adaro Energy today.
MIP is a coal mining company developing a greenfield coal project in South Sumatra. MIP holds a mining permit, known in Indonesian as an IUP, which was granted in April 2010 for a period of twenty years. The project covers an area of approximately 2,000 hectares.
Adaro Energy’s President Director, Mr.Garibaldi Thohir said, “our investment in MIP is part of our drive to create sustainable value from Indonesian coal and achieve our vision to become a leading Indonesian mining and energy group.”
MIP is one of a number of acquisitions opportunities that, together with organic growth, will help Adaro Energy to achieve 80 million tonnes of production in the medium term. Adaro Energy’s advisors and engineers visited the area in November 2010 and subsequently carried out a geological and drilling program, the statment further said.
Following these and other detailed studies, Adaro Energy decided to pursue a majority ownership in MIP.
Adaro Energy has evaluated the geological information available for MIP and considers that there is significant open cut coal mining potential. The coal geology at MIP was sufficiently uniform. The structure, thickness and quality of the coal seams were considered well enough defined by the density of drill holes that AE was confident to proceed with the purchase of this potential coal area, even though some incremental technical work is still required before an official statement of Coal Resources and Reserves can be made, the statment said.
To contact the reporter responsible on this story: Efendi at efendi@coalspot.com
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Saturday, 10 September 11
THE FREIGHT MARKET LIKELY TO BE FIRM NEXT WEEK - CAPT. REDDY
COALspot.com - The freight market continued the upward trend during last week with BDI crossing 1,800 points and closing at 1,838 points up by 5.63 ...
Friday, 09 September 11
SUPRA BARA SECURES $20 MILLION LOAN - JP
The Jakarta Post reported that, Coal miner PT Supra Bara Energi says it has secured a US$20 million loan facility from BNP Paribas to buy heavy equi ...
Friday, 09 September 11
CAPESIZE CAN SECURE USD 17-18K SHORT PERIOD - FEARNBULK
Handy
The US Gulf has remained relatively steady, slightly more activity in the South Atlantic with owners aiming for low to mid USD 20k´s f ...
Thursday, 08 September 11
UKRAINES COAL PRODUCTION TO RISE 8% - IFANDP
Industrial fuels & power reported that, Ukraine will increase its coal output by about 8% this year compared to last year, said the country&rsqu ...
Thursday, 08 September 11
DRY BULK MARKETS RALLY COMES TO AN END - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
As was widely expected by analysts and shipbrokers alike, the latest rally of the dry bulk market came to a halt yesterday, with the Baltic Dry Inde ...
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- Energy Link Ltd, New Zealand
- Port Waratah Coal Services - Australia
- Malabar Cements Ltd - India
- Latin American Coal - Colombia
- Ministry of Mines - Canada
- Banpu Public Company Limited - Thailand
- TeaM Sual Corporation - Philippines
- MS Steel International - UAE
- Krishnapatnam Port Company Ltd. - India
- Independent Power Producers Association of India
- OPG Power Generation Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- Bukit Makmur.PT - Indonesia
- Renaissance Capital - South Africa
- PNOC Exploration Corporation - Philippines
- Sojitz Corporation - Japan
- Asmin Koalindo Tuhup - Indonesia
- Global Business Power Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- Power Finance Corporation Ltd., India
- Edison Trading Spa - Italy
- Makarim & Taira - Indonesia
- CIMB Investment Bank - Malaysia
- Salva Resources Pvt Ltd - India
- Wilmar Investment Holdings
- Pipit Mutiara Jaya. PT, Indonesia
- Tata Chemicals Ltd - India
- Kideco Jaya Agung - Indonesia
- Kepco SPC Power Corporation, Philippines
- Interocean Group of Companies - India
- Cement Manufacturers Association - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Vijayanagar Sugar Pvt Ltd - India
- Indonesian Coal Mining Association
- Lanco Infratech Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Timah Investasi Mineral - Indoneisa
- Bangladesh Power Developement Board
- Jorong Barutama Greston.PT - Indonesia
- Larsen & Toubro Limited - India
- Parliament of New Zealand
- Riau Bara Harum - Indonesia
- Siam City Cement PLC, Thailand
- Eastern Energy - Thailand
- The State Trading Corporation of India Ltd
- SMC Global Power, Philippines
- Semirara Mining Corp, Philippines
- Sree Jayajothi Cements Limited - India
- Parry Sugars Refinery, India
- PetroVietnam Power Coal Import and Supply Company
- Bhoruka Overseas - Indonesia
- Sindya Power Generating Company Private Ltd
- Global Coal Blending Company Limited - Australia
- Neyveli Lignite Corporation Ltd, - India
- Globalindo Alam Lestari - Indonesia
- Orica Australia Pty. Ltd.
- GN Power Mariveles Coal Plant, Philippines
- Ministry of Transport, Egypt
- India Bulls Power Limited - India
- Billiton Holdings Pty Ltd - Australia
- Metalloyd Limited - United Kingdom
- Bukit Asam (Persero) Tbk - Indonesia
- Bayan Resources Tbk. - Indonesia
- Manunggal Multi Energi - Indonesia
- Deloitte Consulting - India
- PTC India Limited - India
- Eastern Coal Council - USA
- Simpson Spence & Young - Indonesia
- Baramulti Group, Indonesia
- Bukit Baiduri Energy - Indonesia
- Altura Mining Limited, Indonesia
- Gujarat Electricity Regulatory Commission - India
- Africa Commodities Group - South Africa
- New Zealand Coal & Carbon
- Xindia Steels Limited - India
- Holcim Trading Pte Ltd - Singapore
- Vedanta Resources Plc - India
- Indika Energy - Indonesia
- Toyota Tsusho Corporation, Japan
- GVK Power & Infra Limited - India
- Indian Energy Exchange, India
- Central Electricity Authority - India
- Ceylon Electricity Board - Sri Lanka
- Grasim Industreis Ltd - India
- Coastal Gujarat Power Limited - India
- Trasteel International SA, Italy
- Chamber of Mines of South Africa
- European Bulk Services B.V. - Netherlands
- Mjunction Services Limited - India
- Attock Cement Pakistan Limited
- Commonwealth Bank - Australia
- Sinarmas Energy and Mining - Indonesia
- Therma Luzon, Inc, Philippines
- Mercator Lines Limited - India
- San Jose City I Power Corp, Philippines
- Chettinad Cement Corporation Ltd - India
- LBH Netherlands Bv - Netherlands
- Madhucon Powers Ltd - India
- Dalmia Cement Bharat India
- Australian Coal Association
- Alfred C Toepfer International GmbH - Germany
- Global Green Power PLC Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- GMR Energy Limited - India
- Energy Development Corp, Philippines
- Aboitiz Power Corporation - Philippines
- Georgia Ports Authority, United States
- Straits Asia Resources Limited - Singapore
- Kartika Selabumi Mining - Indonesia
- Planning Commission, India
- ASAPP Information Group - India
- Posco Energy - South Korea
- CNBM International Corporation - China
- Ambuja Cements Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Marubeni Corporation - India
- Kalimantan Lumbung Energi - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Merrill Lynch Commodities Europe
- Directorate Of Revenue Intelligence - India
- Coalindo Energy - Indonesia
- Star Paper Mills Limited - India
- Samtan Co., Ltd - South Korea
- Carbofer General Trading SA - India
- The Treasury - Australian Government
- Karbindo Abesyapradhi - Indoneisa
- Australian Commodity Traders Exchange
- Heidelberg Cement - Germany
- Wood Mackenzie - Singapore
- SMG Consultants - Indonesia
- Anglo American - United Kingdom
- Petrochimia International Co. Ltd.- Taiwan
- Economic Council, Georgia
- Bharathi Cement Corporation - India
- Antam Resourcindo - Indonesia
- Siam City Cement - Thailand
- Aditya Birla Group - India
- Rio Tinto Coal - Australia
- Sical Logistics Limited - India
- Goldman Sachs - Singapore
- TNB Fuel Sdn Bhd - Malaysia
- Sarangani Energy Corporation, Philippines
- Orica Mining Services - Indonesia
- Leighton Contractors Pty Ltd - Australia
- SN Aboitiz Power Inc, Philippines
- Thai Mozambique Logistica
- International Coal Ventures Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- Essar Steel Hazira Ltd - India
- Indo Tambangraya Megah - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Jindal Steel & Power Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Agrawal Coal Company - India
- Bulk Trading Sa - Switzerland
- South Luzon Thermal Energy Corporation
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Medco Energi Mining Internasional
- PowerSource Philippines DevCo
- Kumho Petrochemical, South Korea
- Kaltim Prima Coal - Indonesia
- The University of Queensland
- Borneo Indobara - Indonesia
- Bhushan Steel Limited - India
- Indian Oil Corporation Limited
- Ind-Barath Power Infra Limited - India
- Oldendorff Carriers - Singapore
- Directorate General of MIneral and Coal - Indonesia
- Minerals Council of Australia
- Videocon Industries ltd - India
- Thiess Contractors Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Electricity Authority, New Zealand
- Semirara Mining and Power Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- Indogreen Group - Indonesia
- Standard Chartered Bank - UAE
- Gujarat Mineral Development Corp Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Binh Thuan Hamico - Vietnam
- VISA Power Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Vizag Seaport Private Limited - India
- Kobexindo Tractors - Indoneisa
- Bhatia International Limited - India
- IHS Mccloskey Coal Group - USA
- McConnell Dowell - Australia
- Maheswari Brothers Coal Limited - India
- Savvy Resources Ltd - HongKong
- Sakthi Sugars Limited - India
- Mintek Dendrill Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ministry of Finance - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Price Waterhouse Coopers - Russia
- IEA Clean Coal Centre - UK
- Intertek Mineral Services - Indonesia
- White Energy Company Limited
- Miang Besar Coal Terminal - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Central Java Power - Indonesia
- Romanian Commodities Exchange
- ICICI Bank Limited - India
- Meralco Power Generation, Philippines
- Coal and Oil Company - UAE
- GAC Shipping (India) Pvt Ltd
- London Commodity Brokers - England
- Uttam Galva Steels Limited - India
- Petron Corporation, Philippines
- Singapore Mercantile Exchange
- Tamil Nadu electricity Board
- Formosa Plastics Group - Taiwan
- Electricity Generating Authority of Thailand
- Gujarat Sidhee Cement - India
- Mercuria Energy - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Pendopo Energi Batubara - Indonesia
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