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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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Monday, 22 August 11
MACRO ECONOMICS - PETER SAND BIMCO / HELLENIC SHIPPING
The US is jeopardising the global recovery as job creation remains top challenge across the board.
Global economy: While growth in most emerging ...
Sunday, 21 August 11
SUPRAMAX AVAILABILITY WAS TIGHT DUE TO UPCOMING RAMADAN HOLIDAYS
COALspot.com - The financial markets have been in turmoil with all major stock exchanges down and uncertainty prevails. However the shipping market ...
Sunday, 21 August 11
TUAH TURANGGA ACQUIRES DUTA NURCAHYA
Coal miner PT Tuah Turangga Agung, a wholly owned subsidiary of PT United Tractors Tbk (UNTR) via PT Pamapersada Nusantara), has agreed to acquire 6 ...
Friday, 19 August 11
INDIAS CICTL HAS ACHIEVED ONE MILLION TONS OF DISCHARGE
COALspot.com - Chettinad International Coal Terminal (CICTL) in Ennore port, a state of the art mechanized coal terminal, which was inaugurated on 28t ...
Friday, 19 August 11
AUSTRALIAS' ATH TO ACQUIRE 60% OF APUAH COAL MINE IN INDONESIA
COALspot.com - Australian listed company, Atech Holdings Limited (ATH) has entered into a conditional binding term sheet to acquire 60 percent stake ...
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- Sical Logistics Limited - India
- IEA Clean Coal Centre - UK
- Carbofer General Trading SA - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kartika Selabumi Mining - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kobexindo Tractors - Indoneisa
- Karaikal Port Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- Deloitte Consulting - India
- TNB Fuel Sdn Bhd - Malaysia
- European Bulk Services B.V. - Netherlands
- Indo Tambangraya Megah - Indonesia
- ICICI Bank Limited - India
- London Commodity Brokers - England
- Aditya Birla Group - India
- Intertek Mineral Services - Indonesia
- PNOC Exploration Corporation - Philippines
- Chamber of Mines of South Africa
- Bukit Baiduri Energy - Indonesia
- Central Electricity Authority - India
- Chettinad Cement Corporation Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Siam City Cement PLC, Thailand
- Banpu Public Company Limited - Thailand
- Oldendorff Carriers - Singapore
- Holcim Trading Pte Ltd - Singapore
- Heidelberg Cement - Germany
- Kohat Cement Company Ltd. - Pakistan
- Indogreen Group - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Meenaskhi Energy Private Limited - India
- Directorate Of Revenue Intelligence - India
- The University of Queensland
- Bhoruka Overseas - Indonesia
- GAC Shipping (India) Pvt Ltd
- Semirara Mining Corp, Philippines
- Australian Commodity Traders Exchange
- Eastern Coal Council - USA
- VISA Power Limited - India
- Bharathi Cement Corporation - India
- Metalloyd Limited - United Kingdom
- Tamil Nadu electricity Board
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Marubeni Corporation - India
- Star Paper Mills Limited - India
- Bangladesh Power Developement Board
- Ministry of Finance - Indonesia
- Iligan Light & Power Inc, Philippines
- Rashtriya Ispat Nigam Limited - India
- Global Green Power PLC Corporation, Philippines
- Antam Resourcindo - Indonesia
- Medco Energi Mining Internasional
- Vizag Seaport Private Limited - India
- Kideco Jaya Agung - Indonesia
- Ambuja Cements Ltd - India
- Videocon Industries ltd - India
- SN Aboitiz Power Inc, Philippines
- Commonwealth Bank - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sojitz Corporation - Japan
- Straits Asia Resources Limited - Singapore
- GN Power Mariveles Coal Plant, Philippines
- Jindal Steel & Power Ltd - India
- Malabar Cements Ltd - India
- MS Steel International - UAE
- Jorong Barutama Greston.PT - Indonesia
- Parliament of New Zealand
- Parry Sugars Refinery, India
- Mercuria Energy - Indonesia
- CIMB Investment Bank - Malaysia
- Minerals Council of Australia
- Electricity Authority, New Zealand
- Singapore Mercantile Exchange
- Thai Mozambique Logistica
- Price Waterhouse Coopers - Russia
- Lanco Infratech Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Wilmar Investment Holdings
- CNBM International Corporation - China
- Asmin Koalindo Tuhup - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Wood Mackenzie - Singapore
- Mintek Dendrill Indonesia
- Africa Commodities Group - South Africa
- Larsen & Toubro Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Coal and Oil Company - UAE
- Sree Jayajothi Cements Limited - India
- Kumho Petrochemical, South Korea
- San Jose City I Power Corp, Philippines
- Essar Steel Hazira Ltd - India
- Dalmia Cement Bharat India
- Global Coal Blending Company Limited - Australia
- Trasteel International SA, Italy
- Bulk Trading Sa - Switzerland
- Latin American Coal - Colombia
- Attock Cement Pakistan Limited
- Orica Australia Pty. Ltd.
- Rio Tinto Coal - Australia
- South Luzon Thermal Energy Corporation
- Indian Oil Corporation Limited
- Eastern Energy - Thailand
- Bukit Makmur.PT - Indonesia
- Energy Development Corp, Philippines
- Simpson Spence & Young - Indonesia
- Energy Link Ltd, New Zealand
- Bahari Cakrawala Sebuku - Indonesia
- Sindya Power Generating Company Private Ltd
- Ministry of Transport, Egypt
- Economic Council, Georgia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bank of Tokyo Mitsubishi UFJ Ltd
- GMR Energy Limited - India
- Coalindo Energy - Indonesia
- Savvy Resources Ltd - HongKong
- Kaltim Prima Coal - Indonesia
- SMC Global Power, Philippines
- Timah Investasi Mineral - Indoneisa
- Borneo Indobara - Indonesia
- Posco Energy - South Korea
- Cement Manufacturers Association - India
- SMG Consultants - Indonesia
- Indian Energy Exchange, India
- Indika Energy - Indonesia
- Orica Mining Services - Indonesia
- Toyota Tsusho Corporation, Japan
- Merrill Lynch Commodities Europe
- Madhucon Powers Ltd - India
- Maheswari Brothers Coal Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Central Java Power - Indonesia
- Standard Chartered Bank - UAE
- PTC India Limited - India
- Planning Commission, India
- Kepco SPC Power Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- India Bulls Power Limited - India
- Aboitiz Power Corporation - Philippines
- Jaiprakash Power Ventures ltd
- International Coal Ventures Pvt Ltd - India
- Sakthi Sugars Limited - India
- Grasim Industreis Ltd - India
- The State Trading Corporation of India Ltd
- New Zealand Coal & Carbon
- Xindia Steels Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Agrawal Coal Company - India
- Georgia Ports Authority, United States
- Coastal Gujarat Power Limited - India
- Ind-Barath Power Infra Limited - India
- Billiton Holdings Pty Ltd - Australia
- Samtan Co., Ltd - South Korea
- Port Waratah Coal Services - Australia
- Cigading International Bulk Terminal - Indonesia
- White Energy Company Limited
- Therma Luzon, Inc, Philippines
- Kapuas Tunggal Persada - Indonesia
- The Treasury - Australian Government
- OPG Power Generation Pvt Ltd - India
- Independent Power Producers Association of India
- Krishnapatnam Port Company Ltd. - India
- Power Finance Corporation Ltd., India
- PowerSource Philippines DevCo
- Electricity Generating Authority of Thailand
- Salva Resources Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- TeaM Sual Corporation - Philippines
- Pendopo Energi Batubara - Indonesia
- Sarangani Energy Corporation, Philippines
- Ministry of Mines - Canada
- Binh Thuan Hamico - Vietnam
- Romanian Commodities Exchange
- Alfred C Toepfer International GmbH - Germany
- Tata Chemicals Ltd - India
- Australian Coal Association
- Baramulti Group, Indonesia
- Siam City Cement - Thailand
- Interocean Group of Companies - India
- Directorate General of MIneral and Coal - Indonesia
- LBH Netherlands Bv - Netherlands
- Meralco Power Generation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Riau Bara Harum - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Manunggal Multi Energi - Indonesia
- Barasentosa Lestari - Indonesia
- Anglo American - United Kingdom
- Goldman Sachs - Singapore
- Maharashtra Electricity Regulatory Commission - India
- Mjunction Services Limited - India
- Edison Trading Spa - Italy
- Thiess Contractors Indonesia
- Miang Besar Coal Terminal - Indonesia
- Uttam Galva Steels Limited - India
- Petron Corporation, Philippines
- GVK Power & Infra Limited - India
- Formosa Plastics Group - Taiwan
- Globalindo Alam Lestari - Indonesia
- Renaissance Capital - South Africa
- AsiaOL BioFuels Corp., Philippines
- Bhatia International Limited - India
- Bhushan Steel Limited - India
- IHS Mccloskey Coal Group - USA
- ASAPP Information Group - India
- Bukit Asam (Persero) Tbk - Indonesia
- Global Business Power Corporation, Philippines
- Gujarat Sidhee Cement - India
- Indonesian Coal Mining Association
- Makarim & Taira - Indonesia
- Mercator Lines Limited - India
- Vedanta Resources Plc - India
- McConnell Dowell - Australia
- Altura Mining Limited, Indonesia
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