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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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- GN Power Mariveles Coal Plant, Philippines
- Banpu Public Company Limited - Thailand
- White Energy Company Limited
- Port Waratah Coal Services - Australia
- Binh Thuan Hamico - Vietnam
- Ind-Barath Power Infra Limited - India
- Global Business Power Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- IEA Clean Coal Centre - UK
- Krishnapatnam Port Company Ltd. - India
- Commonwealth Bank - Australia
- Samtan Co., Ltd - South Korea
- Semirara Mining Corp, Philippines
- Savvy Resources Ltd - HongKong
- Grasim Industreis Ltd - India
- Anglo American - United Kingdom
- Kalimantan Lumbung Energi - Indonesia
- Altura Mining Limited, Indonesia
- SN Aboitiz Power Inc, Philippines
- Power Finance Corporation Ltd., India
- Indogreen Group - Indonesia
- The University of Queensland
- CIMB Investment Bank - Malaysia
- Essar Steel Hazira Ltd - India
- Toyota Tsusho Corporation, Japan
- SMC Global Power, Philippines
- Energy Link Ltd, New Zealand
- Kaltim Prima Coal - Indonesia
- Ministry of Finance - Indonesia
- Georgia Ports Authority, United States
- Indika Energy - Indonesia
- Videocon Industries ltd - India
- Gujarat Electricity Regulatory Commission - India
- Mercator Lines Limited - India
- VISA Power Limited - India
- Bhoruka Overseas - Indonesia
- Riau Bara Harum - Indonesia
- Borneo Indobara - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Bharathi Cement Corporation - India
- Sical Logistics Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Leighton Contractors Pty Ltd - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Eastern Energy - Thailand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bhushan Steel Limited - India
- Coalindo Energy - Indonesia
- PTC India Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Indian Energy Exchange, India
- Antam Resourcindo - Indonesia
- Bayan Resources Tbk. - Indonesia
- IHS Mccloskey Coal Group - USA
- Marubeni Corporation - India
- Baramulti Group, Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Xindia Steels Limited - India
- Carbofer General Trading SA - India
- Independent Power Producers Association of India
- Sakthi Sugars Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Rio Tinto Coal - Australia
- The Treasury - Australian Government
- Bukit Asam (Persero) Tbk - Indonesia
- Global Coal Blending Company Limited - Australia
- Jaiprakash Power Ventures ltd
- McConnell Dowell - Australia
- Chamber of Mines of South Africa
- Madhucon Powers Ltd - India
- Indo Tambangraya Megah - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- Kartika Selabumi Mining - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bukit Makmur.PT - Indonesia
- Sindya Power Generating Company Private Ltd
- Orica Australia Pty. Ltd.
- Formosa Plastics Group - Taiwan
- Holcim Trading Pte Ltd - Singapore
- London Commodity Brokers - England
- Vizag Seaport Private Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Indonesian Coal Mining Association
- Energy Development Corp, Philippines
- Siam City Cement PLC, Thailand
- Eastern Coal Council - USA
- Standard Chartered Bank - UAE
- Interocean Group of Companies - India
- Petrochimia International Co. Ltd.- Taiwan
- Iligan Light & Power Inc, Philippines
- Straits Asia Resources Limited - Singapore
- Mintek Dendrill Indonesia
- Jindal Steel & Power Ltd - India
- Makarim & Taira - Indonesia
- Trasteel International SA, Italy
- GVK Power & Infra Limited - India
- Ministry of Transport, Egypt
- Metalloyd Limited - United Kingdom
- Maharashtra Electricity Regulatory Commission - India
- ASAPP Information Group - India
- India Bulls Power Limited - India
- Economic Council, Georgia
- Miang Besar Coal Terminal - Indonesia
- GMR Energy Limited - India
- Barasentosa Lestari - Indonesia
- Global Green Power PLC Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Price Waterhouse Coopers - Russia
- Kapuas Tunggal Persada - Indonesia
- Wood Mackenzie - Singapore
- Neyveli Lignite Corporation Ltd, - India
- Gujarat Sidhee Cement - India
- Pendopo Energi Batubara - Indonesia
- Timah Investasi Mineral - Indoneisa
- Orica Mining Services - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Indian Oil Corporation Limited
- MS Steel International - UAE
- Mjunction Services Limited - India
- Star Paper Mills Limited - India
- Uttam Galva Steels Limited - India
- GAC Shipping (India) Pvt Ltd
- SMG Consultants - Indonesia
- Vedanta Resources Plc - India
- Bhatia International Limited - India
- Globalindo Alam Lestari - Indonesia
- Thai Mozambique Logistica
- Lanco Infratech Ltd - India
- Romanian Commodities Exchange
- Minerals Council of Australia
- Ministry of Mines - Canada
- Kideco Jaya Agung - Indonesia
- Directorate Of Revenue Intelligence - India
- PowerSource Philippines DevCo
- Bulk Trading Sa - Switzerland
- AsiaOL BioFuels Corp., Philippines
- Agrawal Coal Company - India
- Attock Cement Pakistan Limited
- Cigading International Bulk Terminal - Indonesia
- Therma Luzon, Inc, Philippines
- Central Java Power - Indonesia
- Electricity Generating Authority of Thailand
- Aditya Birla Group - India
- Heidelberg Cement - Germany
- Chettinad Cement Corporation Ltd - India
- Simpson Spence & Young - Indonesia
- CNBM International Corporation - China
- Australian Coal Association
- Aboitiz Power Corporation - Philippines
- Parliament of New Zealand
- Dalmia Cement Bharat India
- Meenaskhi Energy Private Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Central Electricity Authority - India
- Ceylon Electricity Board - Sri Lanka
- Mercuria Energy - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Malabar Cements Ltd - India
- Africa Commodities Group - South Africa
- Parry Sugars Refinery, India
- Coastal Gujarat Power Limited - India
- Posco Energy - South Korea
- Deloitte Consulting - India
- Larsen & Toubro Limited - India
- Cement Manufacturers Association - India
- Medco Energi Mining Internasional
- Directorate General of MIneral and Coal - Indonesia
- Intertek Mineral Services - Indonesia
- Coal and Oil Company - UAE
- The State Trading Corporation of India Ltd
- Thiess Contractors Indonesia
- Meralco Power Generation, Philippines
- Siam City Cement - Thailand
- Rashtriya Ispat Nigam Limited - India
- Salva Resources Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- ICICI Bank Limited - India
- Oldendorff Carriers - Singapore
- Maheswari Brothers Coal Limited - India
- Goldman Sachs - Singapore
- Sojitz Corporation - Japan
- Wilmar Investment Holdings
- Latin American Coal - Colombia
- South Luzon Thermal Energy Corporation
- Kepco SPC Power Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- Renaissance Capital - South Africa
- Manunggal Multi Energi - Indonesia
- Edison Trading Spa - Italy
- Tata Chemicals Ltd - India
- Bangladesh Power Developement Board
- Ambuja Cements Ltd - India
- Bukit Baiduri Energy - Indonesia
- Petron Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- Planning Commission, India
- Merrill Lynch Commodities Europe
- Sarangani Energy Corporation, Philippines
- Tamil Nadu electricity Board
- San Jose City I Power Corp, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Karaikal Port Pvt Ltd - India
- OPG Power Generation Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Kobexindo Tractors - Indoneisa
- TeaM Sual Corporation - Philippines
- Kumho Petrochemical, South Korea
- Electricity Authority, New Zealand
- New Zealand Coal & Carbon
- Australian Commodity Traders Exchange
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Singapore Mercantile Exchange
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