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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, 03 September 11
FEW SHIPS REPORTED FIXED FROM INDONESIA TO INDIA - VISTAAR
COALspot.com - The freight market continued the upward trend during last week with BDI up by about 13 pct closing at 1,740 points and cape index up ...
Saturday, 03 September 11
TNPL TO BUY 240K MT OF NON-COKING COAL
COALspot.com - Tamil Nadu Newsprint and Papers Limited (TNPL), is seeking to procure 240,000 MT +/- 5 percent of non-coking imported coal with ...
Friday, 02 September 11
CAPESIZE DEMAND LIFTS DRY BULK MARKET ONCE AGAIN - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
In what proves to be the best week of the year for Capesize owners, strong demand has helped propel the dry bulk market to new highs yesterday. The ...
Thursday, 01 September 11
EWP TO BUY 195KT OF VIETNAM COAL
COALspot.com - Korea Midland Power (KOMIPO) has issued an International open bidding for 490kt of sub bituminous coal, according to a bid invitation ...
Thursday, 01 September 11
DRY BULK MARKET TAKES GREAT LEAP FORWARD - NIKOS ROUSSANOGLOU
In what turned out to be a rather hopeful ending of the month, the last day of August saw the dry bulk market’s benchmark, the BDI (Baltic Dry ...
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- Aditya Birla Group - India
- Wilmar Investment Holdings
- Ministry of Finance - Indonesia
- SMC Global Power, Philippines
- Mercator Lines Limited - India
- Indonesian Coal Mining Association
- Riau Bara Harum - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Price Waterhouse Coopers - Russia
- Sree Jayajothi Cements Limited - India
- Bhoruka Overseas - Indonesia
- Parliament of New Zealand
- PowerSource Philippines DevCo
- Indika Energy - Indonesia
- Romanian Commodities Exchange
- Eastern Energy - Thailand
- Medco Energi Mining Internasional
- TNB Fuel Sdn Bhd - Malaysia
- Global Green Power PLC Corporation, Philippines
- McConnell Dowell - Australia
- Larsen & Toubro Limited - India
- San Jose City I Power Corp, Philippines
- Kideco Jaya Agung - Indonesia
- Simpson Spence & Young - Indonesia
- Kumho Petrochemical, South Korea
- Bank of Tokyo Mitsubishi UFJ Ltd
- Vedanta Resources Plc - India
- ICICI Bank Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Bhushan Steel Limited - India
- The Treasury - Australian Government
- Trasteel International SA, Italy
- PetroVietnam Power Coal Import and Supply Company
- Heidelberg Cement - Germany
- Port Waratah Coal Services - Australia
- Metalloyd Limited - United Kingdom
- The University of Queensland
- Bukit Makmur.PT - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Ambuja Cements Ltd - India
- Commonwealth Bank - Australia
- Coastal Gujarat Power Limited - India
- Deloitte Consulting - India
- LBH Netherlands Bv - Netherlands
- Australian Coal Association
- Ministry of Mines - Canada
- Toyota Tsusho Corporation, Japan
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Independent Power Producers Association of India
- Merrill Lynch Commodities Europe
- MS Steel International - UAE
- Kobexindo Tractors - Indoneisa
- SN Aboitiz Power Inc, Philippines
- Kapuas Tunggal Persada - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Vizag Seaport Private Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Power Finance Corporation Ltd., India
- Indogreen Group - Indonesia
- Sojitz Corporation - Japan
- Cement Manufacturers Association - India
- Therma Luzon, Inc, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Global Coal Blending Company Limited - Australia
- Gujarat Electricity Regulatory Commission - India
- Pendopo Energi Batubara - Indonesia
- Intertek Mineral Services - Indonesia
- Formosa Plastics Group - Taiwan
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Uttam Galva Steels Limited - India
- Sical Logistics Limited - India
- Oldendorff Carriers - Singapore
- Edison Trading Spa - Italy
- GMR Energy Limited - India
- Coal and Oil Company - UAE
- Meralco Power Generation, Philippines
- Baramulti Group, Indonesia
- Gujarat Mineral Development Corp Ltd - India
- The State Trading Corporation of India Ltd
- Kartika Selabumi Mining - Indonesia
- Posco Energy - South Korea
- Malabar Cements Ltd - India
- TeaM Sual Corporation - Philippines
- Sarangani Energy Corporation, Philippines
- New Zealand Coal & Carbon
- Makarim & Taira - Indonesia
- European Bulk Services B.V. - Netherlands
- Lanco Infratech Ltd - India
- Borneo Indobara - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Sakthi Sugars Limited - India
- Latin American Coal - Colombia
- Star Paper Mills Limited - India
- Aboitiz Power Corporation - Philippines
- Indo Tambangraya Megah - Indonesia
- Jindal Steel & Power Ltd - India
- GAC Shipping (India) Pvt Ltd
- Krishnapatnam Port Company Ltd. - India
- Africa Commodities Group - South Africa
- Goldman Sachs - Singapore
- Bharathi Cement Corporation - India
- Ministry of Transport, Egypt
- Siam City Cement PLC, Thailand
- Bukit Asam (Persero) Tbk - Indonesia
- SMG Consultants - Indonesia
- Salva Resources Pvt Ltd - India
- Georgia Ports Authority, United States
- Agrawal Coal Company - India
- Savvy Resources Ltd - HongKong
- Petron Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Siam City Cement - Thailand
- Interocean Group of Companies - India
- Economic Council, Georgia
- Vijayanagar Sugar Pvt Ltd - India
- Mjunction Services Limited - India
- Barasentosa Lestari - Indonesia
- Altura Mining Limited, Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ceylon Electricity Board - Sri Lanka
- Energy Link Ltd, New Zealand
- Singapore Mercantile Exchange
- Carbofer General Trading SA - India
- Ind-Barath Power Infra Limited - India
- Gujarat Sidhee Cement - India
- Energy Development Corp, Philippines
- Sinarmas Energy and Mining - Indonesia
- Indian Energy Exchange, India
- Orica Australia Pty. Ltd.
- IEA Clean Coal Centre - UK
- Leighton Contractors Pty Ltd - Australia
- Binh Thuan Hamico - Vietnam
- Videocon Industries ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Anglo American - United Kingdom
- London Commodity Brokers - England
- Global Business Power Corporation, Philippines
- Rio Tinto Coal - Australia
- Antam Resourcindo - Indonesia
- Manunggal Multi Energi - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Attock Cement Pakistan Limited
- Minerals Council of Australia
- South Luzon Thermal Energy Corporation
- Directorate General of MIneral and Coal - Indonesia
- GVK Power & Infra Limited - India
- Eastern Coal Council - USA
- Timah Investasi Mineral - Indoneisa
- PTC India Limited - India
- Holcim Trading Pte Ltd - Singapore
- Coalindo Energy - Indonesia
- White Energy Company Limited
- Bahari Cakrawala Sebuku - Indonesia
- Bhatia International Limited - India
- Semirara Mining and Power Corporation, Philippines
- Electricity Authority, New Zealand
- Alfred C Toepfer International GmbH - Germany
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- IHS Mccloskey Coal Group - USA
- Bayan Resources Tbk. - Indonesia
- Banpu Public Company Limited - Thailand
- Orica Mining Services - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Mintek Dendrill Indonesia
- Electricity Generating Authority of Thailand
- Kepco SPC Power Corporation, Philippines
- Thiess Contractors Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Grasim Industreis Ltd - India
- Marubeni Corporation - India
- Kaltim Prima Coal - Indonesia
- Samtan Co., Ltd - South Korea
- International Coal Ventures Pvt Ltd - India
- Chamber of Mines of South Africa
- Renaissance Capital - South Africa
- Straits Asia Resources Limited - Singapore
- CIMB Investment Bank - Malaysia
- Essar Steel Hazira Ltd - India
- VISA Power Limited - India
- Bangladesh Power Developement Board
- India Bulls Power Limited - India
- Madhucon Powers Ltd - India
- Bulk Trading Sa - Switzerland
- Mercuria Energy - Indonesia
- Wood Mackenzie - Singapore
- Indian Oil Corporation Limited
- Sindya Power Generating Company Private Ltd
- Standard Chartered Bank - UAE
- Karaikal Port Pvt Ltd - India
- Parry Sugars Refinery, India
- Xindia Steels Limited - India
- Jaiprakash Power Ventures ltd
- Dalmia Cement Bharat India
- Bukit Baiduri Energy - Indonesia
- Chettinad Cement Corporation Ltd - India
- Planning Commission, India
- Cigading International Bulk Terminal - Indonesia
- Tata Chemicals Ltd - India
- Maheswari Brothers Coal Limited - India
- Central Java Power - Indonesia
- Iligan Light & Power Inc, Philippines
- Central Electricity Authority - India
- PNOC Exploration Corporation - Philippines
- OPG Power Generation Pvt Ltd - India
- Australian Commodity Traders Exchange
- Semirara Mining Corp, Philippines
- Meenaskhi Energy Private Limited - India
- Directorate Of Revenue Intelligence - India
- CNBM International Corporation - China
- Kohat Cement Company Ltd. - Pakistan
- Tamil Nadu electricity Board
- Globalindo Alam Lestari - Indonesia
- Thai Mozambique Logistica
- ASAPP Information Group - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
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