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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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Tuesday, 30 August 11
FAUJI CEMENT CONSUMED MORE THAN 1 MILLION TONS OF LOCAL COAL
Cooper Minerals Inc.based in Vancouver, BC, Canada, is a junior exploration company engaged in the acquisition, exploration and development of miner ...
Sunday, 28 August 11
FREIGHT MARKET COULD BE FIRM NEXT MONTH - VISTAAR
COALspot.com - The freight market continued the upward trend first half of the week . However, towards the end of the week lost momentum and the BDI ...
Saturday, 27 August 11
JAPANESE BULK CARRIER SETS RECORD ON NORTHERN SEA ROUTE - BARENTS OBSERVER
The Northern Sea Route will see its third record in less than a month when the largest ever bulk carrier to take the route leaves Murmansk next week ...
Saturday, 27 August 11
RBCT-INDIA ROUNDS FIXED AT AROUND US$ 12K - FEARNBULK
Handy
Stable but very positional markets across all segments in the Atlantic: the gap between owners and charterers rate ideas is building up as o ...
Friday, 26 August 11
TUAH TURANGGA AGUNG ACQUIRES AN ADDITIONAL 40% SHARES IN BARA PRIMA AGUNG
COALspot.com - PT Tuah Turangga Agung, a subsidiary of PT United Tractors Tbk, has signed an acquisition agreement to acquire 40% of PT Bara Prima A ...
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- Ministry of Finance - Indonesia
- Global Green Power PLC Corporation, Philippines
- GVK Power & Infra Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- TeaM Sual Corporation - Philippines
- Ambuja Cements Ltd - India
- Parry Sugars Refinery, India
- Australian Commodity Traders Exchange
- Gujarat Sidhee Cement - India
- Gujarat Electricity Regulatory Commission - India
- London Commodity Brokers - England
- Sindya Power Generating Company Private Ltd
- Bharathi Cement Corporation - India
- Indonesian Coal Mining Association
- Indogreen Group - Indonesia
- SN Aboitiz Power Inc, Philippines
- Central Java Power - Indonesia
- Kobexindo Tractors - Indoneisa
- Tata Chemicals Ltd - India
- Karaikal Port Pvt Ltd - India
- Petron Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Standard Chartered Bank - UAE
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Independent Power Producers Association of India
- Attock Cement Pakistan Limited
- Agrawal Coal Company - India
- Iligan Light & Power Inc, Philippines
- LBH Netherlands Bv - Netherlands
- Rashtriya Ispat Nigam Limited - India
- Economic Council, Georgia
- Toyota Tsusho Corporation, Japan
- Australian Coal Association
- Salva Resources Pvt Ltd - India
- Borneo Indobara - Indonesia
- Samtan Co., Ltd - South Korea
- Pendopo Energi Batubara - Indonesia
- Indian Energy Exchange, India
- Orica Mining Services - Indonesia
- Bhushan Steel Limited - India
- Jindal Steel & Power Ltd - India
- OPG Power Generation Pvt Ltd - India
- Sakthi Sugars Limited - India
- PNOC Exploration Corporation - Philippines
- Alfred C Toepfer International GmbH - Germany
- Indika Energy - Indonesia
- Global Coal Blending Company Limited - Australia
- Ceylon Electricity Board - Sri Lanka
- Sinarmas Energy and Mining - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Binh Thuan Hamico - Vietnam
- Xindia Steels Limited - India
- Essar Steel Hazira Ltd - India
- Uttam Galva Steels Limited - India
- Dalmia Cement Bharat India
- India Bulls Power Limited - India
- San Jose City I Power Corp, Philippines
- Electricity Authority, New Zealand
- Cigading International Bulk Terminal - Indonesia
- MS Steel International - UAE
- Deloitte Consulting - India
- Leighton Contractors Pty Ltd - Australia
- Maharashtra Electricity Regulatory Commission - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Semirara Mining Corp, Philippines
- Parliament of New Zealand
- Intertek Mineral Services - Indonesia
- Global Business Power Corporation, Philippines
- Semirara Mining and Power Corporation, Philippines
- VISA Power Limited - India
- Riau Bara Harum - Indonesia
- White Energy Company Limited
- Star Paper Mills Limited - India
- Chamber of Mines of South Africa
- IHS Mccloskey Coal Group - USA
- CIMB Investment Bank - Malaysia
- Sojitz Corporation - Japan
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Antam Resourcindo - Indonesia
- Straits Asia Resources Limited - Singapore
- Altura Mining Limited, Indonesia
- Ministry of Transport, Egypt
- Miang Besar Coal Terminal - Indonesia
- Metalloyd Limited - United Kingdom
- Holcim Trading Pte Ltd - Singapore
- Formosa Plastics Group - Taiwan
- Makarim & Taira - Indonesia
- International Coal Ventures Pvt Ltd - India
- Posco Energy - South Korea
- Larsen & Toubro Limited - India
- AsiaOL BioFuels Corp., Philippines
- Central Electricity Authority - India
- Interocean Group of Companies - India
- Cement Manufacturers Association - India
- Commonwealth Bank - Australia
- Maheswari Brothers Coal Limited - India
- Baramulti Group, Indonesia
- Africa Commodities Group - South Africa
- Therma Luzon, Inc, Philippines
- Indo Tambangraya Megah - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Indian Oil Corporation Limited
- Jaiprakash Power Ventures ltd
- Siam City Cement - Thailand
- PetroVietnam Power Coal Import and Supply Company
- Kartika Selabumi Mining - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- ICICI Bank Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Karbindo Abesyapradhi - Indoneisa
- New Zealand Coal & Carbon
- Orica Australia Pty. Ltd.
- Barasentosa Lestari - Indonesia
- Meralco Power Generation, Philippines
- Goldman Sachs - Singapore
- The Treasury - Australian Government
- Energy Link Ltd, New Zealand
- Kumho Petrochemical, South Korea
- Mercuria Energy - Indonesia
- Mjunction Services Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Energy Development Corp, Philippines
- Trasteel International SA, Italy
- Chettinad Cement Corporation Ltd - India
- Edison Trading Spa - Italy
- Merrill Lynch Commodities Europe
- Malabar Cements Ltd - India
- IEA Clean Coal Centre - UK
- Kohat Cement Company Ltd. - Pakistan
- Electricity Generating Authority of Thailand
- Singapore Mercantile Exchange
- Vijayanagar Sugar Pvt Ltd - India
- Thai Mozambique Logistica
- Manunggal Multi Energi - Indonesia
- Bulk Trading Sa - Switzerland
- Savvy Resources Ltd - HongKong
- SMC Global Power, Philippines
- Price Waterhouse Coopers - Russia
- Kideco Jaya Agung - Indonesia
- Power Finance Corporation Ltd., India
- Simpson Spence & Young - Indonesia
- Coal and Oil Company - UAE
- CNBM International Corporation - China
- Kepco SPC Power Corporation, Philippines
- Carbofer General Trading SA - India
- Vedanta Resources Plc - India
- Aboitiz Power Corporation - Philippines
- McConnell Dowell - Australia
- GAC Shipping (India) Pvt Ltd
- Bayan Resources Tbk. - Indonesia
- Medco Energi Mining Internasional
- GN Power Mariveles Coal Plant, Philippines
- Krishnapatnam Port Company Ltd. - India
- Directorate General of MIneral and Coal - Indonesia
- Siam City Cement PLC, Thailand
- Mercator Lines Limited - India
- Sree Jayajothi Cements Limited - India
- Madhucon Powers Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- PowerSource Philippines DevCo
- Timah Investasi Mineral - Indoneisa
- Aditya Birla Group - India
- Minerals Council of Australia
- Oldendorff Carriers - Singapore
- Billiton Holdings Pty Ltd - Australia
- Planning Commission, India
- Coalindo Energy - Indonesia
- Directorate Of Revenue Intelligence - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bangladesh Power Developement Board
- Bahari Cakrawala Sebuku - Indonesia
- Rio Tinto Coal - Australia
- PTC India Limited - India
- Kaltim Prima Coal - Indonesia
- Bhoruka Overseas - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Wood Mackenzie - Singapore
- Ind-Barath Power Infra Limited - India
- Mintek Dendrill Indonesia
- Vizag Seaport Private Limited - India
- Port Waratah Coal Services - Australia
- The University of Queensland
- Globalindo Alam Lestari - Indonesia
- Sarangani Energy Corporation, Philippines
- Sical Logistics Limited - India
- European Bulk Services B.V. - Netherlands
- Wilmar Investment Holdings
- Meenaskhi Energy Private Limited - India
- Bukit Baiduri Energy - Indonesia
- Bukit Makmur.PT - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- South Luzon Thermal Energy Corporation
- Anglo American - United Kingdom
- SMG Consultants - Indonesia
- Videocon Industries ltd - India
- Eastern Energy - Thailand
- Kapuas Tunggal Persada - Indonesia
- Renaissance Capital - South Africa
- Ministry of Mines - Canada
- Grasim Industreis Ltd - India
- Coastal Gujarat Power Limited - India
- Heidelberg Cement - Germany
- ASAPP Information Group - India
- Eastern Coal Council - USA
- Marubeni Corporation - India
- Thiess Contractors Indonesia
- Latin American Coal - Colombia
- Tamil Nadu electricity Board
- Gujarat Mineral Development Corp Ltd - India
- GMR Energy Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bhatia International Limited - India
- Georgia Ports Authority, United States
- Lanco Infratech Ltd - India
- Romanian Commodities Exchange
- Banpu Public Company Limited - Thailand
- The State Trading Corporation of India Ltd
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