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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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Wednesday, 17 August 11
BUMI'S H1 UNDERLYING OPERATING PROFIT $62 MILLION
COALspot.com - Bumi PLC , posted underlying first-half operating profit of $62 million and production at PT Bumi Resources and PT Berau increased to ...
Wednesday, 17 August 11
SHIP OWNERS COULD FACE PAIN ON THE BACK OF GLOOMY ECONOMYS PREDICTIONS - HELLENIC SHIPPING
The latest market turmoil, coupled with the renewed risk of a global recession could very well signal more troubled times for ship owners of all shi ...
Tuesday, 16 August 11
CHALLENGER ENTERED INTO CSPA WITH PELANGI KERTANEGARA TO ACQUIRE 100% STAKE
COALspot.com - Challenger Deep Resources Corp., through its wholly owned subsidiary, P.T. Bestindo Energy, has exercised its option to purchase an a ...
Monday, 15 August 11
ADARO ENERGYS NET INCOME MORE THAN DOUBLES IN FIRST HALF 2011
COALspot.com - Indonesian’s second largest coal producer, Adaro Energy, booked net profit US$ 268 million in the first half 2011, rose two-fol ...
Monday, 15 August 11
INDIAS MALABAR CEMENTS SEEK TO IMPORT 40,000 TONS OF COAL
COALspot.com - Malabar Cements Ltd., India's Keralaa government owned cement factory is seeking to import 40K metric tons of non-coking coal throug ...
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- Eastern Coal Council - USA
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- TNB Fuel Sdn Bhd - Malaysia
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- Renaissance Capital - South Africa
- Australian Coal Association
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- Power Finance Corporation Ltd., India
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- IHS Mccloskey Coal Group - USA
- Chettinad Cement Corporation Ltd - India
- Global Coal Blending Company Limited - Australia
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- White Energy Company Limited
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- Heidelberg Cement - Germany
- Tamil Nadu electricity Board
- Bharathi Cement Corporation - India
- Bahari Cakrawala Sebuku - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Savvy Resources Ltd - HongKong
- Simpson Spence & Young - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Therma Luzon, Inc, Philippines
- Mercator Lines Limited - India
- Thai Mozambique Logistica
- Sarangani Energy Corporation, Philippines
- Latin American Coal - Colombia
- MS Steel International - UAE
- SN Aboitiz Power Inc, Philippines
- Attock Cement Pakistan Limited
- Marubeni Corporation - India
- Carbofer General Trading SA - India
- Singapore Mercantile Exchange
- Planning Commission, India
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- Kohat Cement Company Ltd. - Pakistan
- SMC Global Power, Philippines
- Cigading International Bulk Terminal - Indonesia
- Star Paper Mills Limited - India
- Commonwealth Bank - Australia
- Petron Corporation, Philippines
- Central Java Power - Indonesia
- Indian Oil Corporation Limited
- Africa Commodities Group - South Africa
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- GAC Shipping (India) Pvt Ltd
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- Gujarat Sidhee Cement - India
- Price Waterhouse Coopers - Russia
- Trasteel International SA, Italy
- Samtan Co., Ltd - South Korea
- Indian Energy Exchange, India
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- PetroVietnam Power Coal Import and Supply Company
- Manunggal Multi Energi - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- McConnell Dowell - Australia
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- San Jose City I Power Corp, Philippines
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- Thiess Contractors Indonesia
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- Directorate General of MIneral and Coal - Indonesia
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- The State Trading Corporation of India Ltd
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- Agrawal Coal Company - India
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- Wood Mackenzie - Singapore
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- The University of Queensland
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- PowerSource Philippines DevCo
- Sree Jayajothi Cements Limited - India
- Oldendorff Carriers - Singapore
- Ministry of Transport, Egypt
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- Mjunction Services Limited - India
- London Commodity Brokers - England
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- Coal and Oil Company - UAE
- South Luzon Thermal Energy Corporation
- Globalindo Alam Lestari - Indonesia
- Bhoruka Overseas - Indonesia
- PNOC Exploration Corporation - Philippines
- Toyota Tsusho Corporation, Japan
- Bangladesh Power Developement Board
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- Sojitz Corporation - Japan
- Tata Chemicals Ltd - India
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- Ministry of Mines - Canada
- Standard Chartered Bank - UAE
- Iligan Light & Power Inc, Philippines
- Maheswari Brothers Coal Limited - India
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- Kepco SPC Power Corporation, Philippines
- India Bulls Power Limited - India
- Miang Besar Coal Terminal - Indonesia
- LBH Netherlands Bv - Netherlands
- Alfred C Toepfer International GmbH - Germany
- CNBM International Corporation - China
- Electricity Authority, New Zealand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Malabar Cements Ltd - India
- IEA Clean Coal Centre - UK
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- Edison Trading Spa - Italy
- Minerals Council of Australia
- International Coal Ventures Pvt Ltd - India
- Deloitte Consulting - India
- Parliament of New Zealand
- Krishnapatnam Port Company Ltd. - India
- Meenaskhi Energy Private Limited - India
- Uttam Galva Steels Limited - India
- Bayan Resources Tbk. - Indonesia
- Posco Energy - South Korea
- GN Power Mariveles Coal Plant, Philippines
- Riau Bara Harum - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Siam City Cement - Thailand
- GMR Energy Limited - India
- Ministry of Finance - Indonesia
- Aboitiz Power Corporation - Philippines
- Wilmar Investment Holdings
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- European Bulk Services B.V. - Netherlands
- Altura Mining Limited, Indonesia
- AsiaOL BioFuels Corp., Philippines
- Energy Link Ltd, New Zealand
- Australian Commodity Traders Exchange
- Indogreen Group - Indonesia
- Port Waratah Coal Services - Australia
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- Global Business Power Corporation, Philippines
- Bulk Trading Sa - Switzerland
- Banpu Public Company Limited - Thailand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- SMG Consultants - Indonesia
- Economic Council, Georgia
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- Siam City Cement PLC, Thailand
- Meralco Power Generation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Makarim & Taira - Indonesia
- GVK Power & Infra Limited - India
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