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