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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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Thursday, 08 September 11
TRADA MARITIME BUYS GUNUNG BARA UTAMA
Insider Stories reported that, PT Trada Maritime Tbk (TRAM) has purchased convertible bonds issued by PT Awesome Coal from Zakia Limited. The memora ...
Thursday, 08 September 11
PETROSEA ADDS US$730 MIO CONTRACT
Coal mining contractor PT Petrosea Tbk (PTRO), a majority owned subsidiary of energy integrated company PT Indika Energy Tbk (INDY), has secured a U ...
Wednesday, 07 September 11
ANOTHER EXCEPTIONALLY STRONG WEEK FOR THE CAPESIZE MARKET - BRS
The very strong rise in Cape rates pushed through an overall improvement in the BDI this week, although relatively little benefit from the Capes has ...
Wednesday, 07 September 11
INDIA HIT BY INDONESIAS COAL PRICE - TEMPO INTERACTIVE
TEMPO Interactive, an Indonesian online news portal reported that, The Indian government has complained about the price increase of Indonesian coal, ...
Wednesday, 07 September 11
SAMPUR POWER AGREEMENT SIGNED - DAILY NEWS
Daily News, Sri Lank's national news paper reported that, the agreement for the setting up of a 500 MW coal-fired power plant at Sampur, Trincomale ...
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- PetroVietnam Power Coal Import and Supply Company
- Eastern Coal Council - USA
- Commonwealth Bank - Australia
- Rashtriya Ispat Nigam Limited - India
- Miang Besar Coal Terminal - Indonesia
- Metalloyd Limited - United Kingdom
- Sinarmas Energy and Mining - Indonesia
- Riau Bara Harum - Indonesia
- CIMB Investment Bank - Malaysia
- Leighton Contractors Pty Ltd - Australia
- Carbofer General Trading SA - India
- Ministry of Mines - Canada
- VISA Power Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Toyota Tsusho Corporation, Japan
- Medco Energi Mining Internasional
- Chamber of Mines of South Africa
- Georgia Ports Authority, United States
- SN Aboitiz Power Inc, Philippines
- Videocon Industries ltd - India
- Sojitz Corporation - Japan
- Gujarat Sidhee Cement - India
- Petron Corporation, Philippines
- Siam City Cement PLC, Thailand
- Binh Thuan Hamico - Vietnam
- Banpu Public Company Limited - Thailand
- Lanco Infratech Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Meenaskhi Energy Private Limited - India
- Vedanta Resources Plc - India
- Africa Commodities Group - South Africa
- Barasentosa Lestari - Indonesia
- LBH Netherlands Bv - Netherlands
- Tata Chemicals Ltd - India
- Indian Energy Exchange, India
- Kalimantan Lumbung Energi - Indonesia
- Independent Power Producers Association of India
- Wood Mackenzie - Singapore
- Energy Link Ltd, New Zealand
- Coastal Gujarat Power Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Merrill Lynch Commodities Europe
- Price Waterhouse Coopers - Russia
- Orica Australia Pty. Ltd.
- Uttam Galva Steels Limited - India
- Sree Jayajothi Cements Limited - India
- AsiaOL BioFuels Corp., Philippines
- Bukit Baiduri Energy - Indonesia
- Trasteel International SA, Italy
- India Bulls Power Limited - India
- Mercator Lines Limited - India
- Madhucon Powers Ltd - India
- ICICI Bank Limited - India
- Rio Tinto Coal - Australia
- Timah Investasi Mineral - Indoneisa
- Planning Commission, India
- Jindal Steel & Power Ltd - India
- Heidelberg Cement - Germany
- Iligan Light & Power Inc, Philippines
- Aditya Birla Group - India
- Deloitte Consulting - India
- Kideco Jaya Agung - Indonesia
- Parliament of New Zealand
- Parry Sugars Refinery, India
- Aboitiz Power Corporation - Philippines
- Eastern Energy - Thailand
- Makarim & Taira - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- European Bulk Services B.V. - Netherlands
- GVK Power & Infra Limited - India
- Attock Cement Pakistan Limited
- Formosa Plastics Group - Taiwan
- SMC Global Power, Philippines
- Pendopo Energi Batubara - Indonesia
- Port Waratah Coal Services - Australia
- Gujarat Electricity Regulatory Commission - India
- Jaiprakash Power Ventures ltd
- Wilmar Investment Holdings
- Jorong Barutama Greston.PT - Indonesia
- Tamil Nadu electricity Board
- Orica Mining Services - Indonesia
- Bayan Resources Tbk. - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Indian Oil Corporation Limited
- Bharathi Cement Corporation - India
- IEA Clean Coal Centre - UK
- Straits Asia Resources Limited - Singapore
- Thiess Contractors Indonesia
- Bangladesh Power Developement Board
- Mintek Dendrill Indonesia
- Bhatia International Limited - India
- Baramulti Group, Indonesia
- Global Business Power Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- Savvy Resources Ltd - HongKong
- Bhushan Steel Limited - India
- Power Finance Corporation Ltd., India
- GAC Shipping (India) Pvt Ltd
- Petrochimia International Co. Ltd.- Taiwan
- Karbindo Abesyapradhi - Indoneisa
- ASAPP Information Group - India
- Indo Tambangraya Megah - Indonesia
- Electricity Authority, New Zealand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Samtan Co., Ltd - South Korea
- White Energy Company Limited
- SMG Consultants - Indonesia
- Romanian Commodities Exchange
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- Indonesian Coal Mining Association
- Borneo Indobara - Indonesia
- Kepco SPC Power Corporation, Philippines
- The Treasury - Australian Government
- Kapuas Tunggal Persada - Indonesia
- PNOC Exploration Corporation - Philippines
- MS Steel International - UAE
- Globalindo Alam Lestari - Indonesia
- Interocean Group of Companies - India
- IHS Mccloskey Coal Group - USA
- Marubeni Corporation - India
- Ministry of Finance - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Asmin Koalindo Tuhup - Indonesia
- Dalmia Cement Bharat India
- Alfred C Toepfer International GmbH - Germany
- Karaikal Port Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- Grasim Industreis Ltd - India
- Posco Energy - South Korea
- Edison Trading Spa - Italy
- Neyveli Lignite Corporation Ltd, - India
- Electricity Generating Authority of Thailand
- Vijayanagar Sugar Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- Chettinad Cement Corporation Ltd - India
- Ministry of Transport, Egypt
- Semirara Mining Corp, Philippines
- The University of Queensland
- Minerals Council of Australia
- Star Paper Mills Limited - India
- Cement Manufacturers Association - India
- Salva Resources Pvt Ltd - India
- International Coal Ventures Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Manunggal Multi Energi - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Coalindo Energy - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- San Jose City I Power Corp, Philippines
- Thai Mozambique Logistica
- TeaM Sual Corporation - Philippines
- London Commodity Brokers - England
- Essar Steel Hazira Ltd - India
- Indogreen Group - Indonesia
- Altura Mining Limited, Indonesia
- Siam City Cement - Thailand
- Ambuja Cements Ltd - India
- Global Green Power PLC Corporation, Philippines
- Central Electricity Authority - India
- Ind-Barath Power Infra Limited - India
- Simpson Spence & Young - Indonesia
- Antam Resourcindo - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Sical Logistics Limited - India
- McConnell Dowell - Australia
- Sakthi Sugars Limited - India
- Kobexindo Tractors - Indoneisa
- Indika Energy - Indonesia
- Agrawal Coal Company - India
- Semirara Mining and Power Corporation, Philippines
- Malabar Cements Ltd - India
- PowerSource Philippines DevCo
- Oldendorff Carriers - Singapore
- Australian Coal Association
- Anglo American - United Kingdom
- Economic Council, Georgia
- Kohat Cement Company Ltd. - Pakistan
- GMR Energy Limited - India
- Singapore Mercantile Exchange
- Mjunction Services Limited - India
- Central Java Power - Indonesia
- Larsen & Toubro Limited - India
- PTC India Limited - India
- CNBM International Corporation - China
- Therma Luzon, Inc, Philippines
- Billiton Holdings Pty Ltd - Australia
- The State Trading Corporation of India Ltd
- Bukit Makmur.PT - Indonesia
- Coal and Oil Company - UAE
- Holcim Trading Pte Ltd - Singapore
- Bulk Trading Sa - Switzerland
- Ceylon Electricity Board - Sri Lanka
- Bhoruka Overseas - Indonesia
- Goldman Sachs - Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- OPG Power Generation Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- Meralco Power Generation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Directorate Of Revenue Intelligence - India
- Vizag Seaport Private Limited - India
- Australian Commodity Traders Exchange
- Energy Development Corp, Philippines
- Renaissance Capital - South Africa
- New Zealand Coal & Carbon
- Xindia Steels Limited - India
- Mercuria Energy - Indonesia
- Sarangani Energy Corporation, Philippines
- Standard Chartered Bank - UAE
- Latin American Coal - Colombia
- Cigading International Bulk Terminal - Indonesia
- Kumho Petrochemical, South Korea
- Kaltim Prima Coal - Indonesia
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