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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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Sunday, 14 August 11
SUPRAMAX CHARTER RATES SHARPLY UP - CAPT.REDDY
COALspot.com - The BDI ended positive with gains in Cape and Panamax index. The BDI was up by 1.50 pct and the cape and panamax index was up by almo ...
Saturday, 13 August 11
GMR HAS ENTERED INTO CSPA WITH GEMS TO ACQUIRE 30% STAKE
COALspot.com - GMR Infrastructure Investments (Singapore) Pte Ltd, a subsidiary of GMR Infrastructure, has signed conditional sale and purchase agre ...
Friday, 12 August 11
COAL MINERS WILL ALLOW TO CONSTRUCT MINE MOUTH POWER PLANT
COALspot.com - The government is set to draft a regulation to enable construction of steam-fired power plants (PLTU) by coal mining companies for th ...
Friday, 12 August 11
CAPESIZE DEMAND HELPS LIFTING OF DRY BULK MARKET - HELLENIC SHIPPING NEWS
The dry bulk market has recovered a small fraction of its lost ground this week, with higher returns as a result of increased capesize demand. This ...
Thursday, 11 August 11
INDO TAMBANGRAYA 1H NET PROFIT SOARS 53.09%
Coal miner PT Indo Tambangraya Megah Tbk (ITMG) today reported a 53.09% jump in net profit for the first 6 months of this year on the back of higher ...
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- Price Waterhouse Coopers - Russia
- Metalloyd Limited - United Kingdom
- Maheswari Brothers Coal Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Krishnapatnam Port Company Ltd. - India
- Straits Asia Resources Limited - Singapore
- Energy Link Ltd, New Zealand
- Vizag Seaport Private Limited - India
- Toyota Tsusho Corporation, Japan
- South Luzon Thermal Energy Corporation
- Ambuja Cements Ltd - India
- ICICI Bank Limited - India
- Mercuria Energy - Indonesia
- Altura Mining Limited, Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Miang Besar Coal Terminal - Indonesia
- Aboitiz Power Corporation - Philippines
- Formosa Plastics Group - Taiwan
- Indian Oil Corporation Limited
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Globalindo Alam Lestari - Indonesia
- Sical Logistics Limited - India
- Thiess Contractors Indonesia
- Wood Mackenzie - Singapore
- Mjunction Services Limited - India
- Semirara Mining Corp, Philippines
- VISA Power Limited - India
- Indian Energy Exchange, India
- Bulk Trading Sa - Switzerland
- Jindal Steel & Power Ltd - India
- Kumho Petrochemical, South Korea
- CIMB Investment Bank - Malaysia
- LBH Netherlands Bv - Netherlands
- Bhushan Steel Limited - India
- Orica Mining Services - Indonesia
- Bharathi Cement Corporation - India
- Bukit Baiduri Energy - Indonesia
- Deloitte Consulting - India
- Sree Jayajothi Cements Limited - India
- Agrawal Coal Company - India
- Gujarat Sidhee Cement - India
- Ministry of Mines - Canada
- Attock Cement Pakistan Limited
- Dalmia Cement Bharat India
- Star Paper Mills Limited - India
- Banpu Public Company Limited - Thailand
- Port Waratah Coal Services - Australia
- Videocon Industries ltd - India
- IHS Mccloskey Coal Group - USA
- Alfred C Toepfer International GmbH - Germany
- Oldendorff Carriers - Singapore
- Australian Commodity Traders Exchange
- Thai Mozambique Logistica
- AsiaOL BioFuels Corp., Philippines
- Carbofer General Trading SA - India
- Ind-Barath Power Infra Limited - India
- Lanco Infratech Ltd - India
- Barasentosa Lestari - Indonesia
- Karaikal Port Pvt Ltd - India
- Anglo American - United Kingdom
- Merrill Lynch Commodities Europe
- Meenaskhi Energy Private Limited - India
- Bhatia International Limited - India
- Africa Commodities Group - South Africa
- The University of Queensland
- Wilmar Investment Holdings
- Tata Chemicals Ltd - India
- CNBM International Corporation - China
- Central Java Power - Indonesia
- Meralco Power Generation, Philippines
- Tamil Nadu electricity Board
- Directorate General of MIneral and Coal - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Standard Chartered Bank - UAE
- Renaissance Capital - South Africa
- Eastern Coal Council - USA
- Xindia Steels Limited - India
- Latin American Coal - Colombia
- PNOC Exploration Corporation - Philippines
- The State Trading Corporation of India Ltd
- Ministry of Finance - Indonesia
- OPG Power Generation Pvt Ltd - India
- Bangladesh Power Developement Board
- White Energy Company Limited
- McConnell Dowell - Australia
- Energy Development Corp, Philippines
- Ministry of Transport, Egypt
- Electricity Generating Authority of Thailand
- Larsen & Toubro Limited - India
- Commonwealth Bank - Australia
- PowerSource Philippines DevCo
- Kapuas Tunggal Persada - Indonesia
- San Jose City I Power Corp, Philippines
- Cement Manufacturers Association - India
- Heidelberg Cement - Germany
- Maharashtra Electricity Regulatory Commission - India
- IEA Clean Coal Centre - UK
- Essar Steel Hazira Ltd - India
- Kepco SPC Power Corporation, Philippines
- Power Finance Corporation Ltd., India
- Malabar Cements Ltd - India
- Therma Luzon, Inc, Philippines
- European Bulk Services B.V. - Netherlands
- Intertek Mineral Services - Indonesia
- Edison Trading Spa - Italy
- Medco Energi Mining Internasional
- Pipit Mutiara Jaya. PT, Indonesia
- MS Steel International - UAE
- Salva Resources Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- Chamber of Mines of South Africa
- Sarangani Energy Corporation, Philippines
- Georgia Ports Authority, United States
- Borneo Indobara - Indonesia
- GAC Shipping (India) Pvt Ltd
- Gujarat Electricity Regulatory Commission - India
- ASAPP Information Group - India
- PTC India Limited - India
- Riau Bara Harum - Indonesia
- Electricity Authority, New Zealand
- Rio Tinto Coal - Australia
- TeaM Sual Corporation - Philippines
- India Bulls Power Limited - India
- The Treasury - Australian Government
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bukit Makmur.PT - Indonesia
- Coal and Oil Company - UAE
- Bukit Asam (Persero) Tbk - Indonesia
- Uttam Galva Steels Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Romanian Commodities Exchange
- Goldman Sachs - Singapore
- Singapore Mercantile Exchange
- Bahari Cakrawala Sebuku - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bayan Resources Tbk. - Indonesia
- Kartika Selabumi Mining - Indonesia
- Timah Investasi Mineral - Indoneisa
- Antam Resourcindo - Indonesia
- Trasteel International SA, Italy
- Sinarmas Energy and Mining - Indonesia
- Mintek Dendrill Indonesia
- Leighton Contractors Pty Ltd - Australia
- SN Aboitiz Power Inc, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- London Commodity Brokers - England
- Minerals Council of Australia
- International Coal Ventures Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Mercator Lines Limited - India
- Petron Corporation, Philippines
- Parliament of New Zealand
- Vijayanagar Sugar Pvt Ltd - India
- Madhucon Powers Ltd - India
- Indo Tambangraya Megah - Indonesia
- Grasim Industreis Ltd - India
- Aditya Birla Group - India
- Jorong Barutama Greston.PT - Indonesia
- Central Electricity Authority - India
- Parry Sugars Refinery, India
- Indika Energy - Indonesia
- GVK Power & Infra Limited - India
- Kobexindo Tractors - Indoneisa
- GN Power Mariveles Coal Plant, Philippines
- Independent Power Producers Association of India
- Sojitz Corporation - Japan
- Coalindo Energy - Indonesia
- Pendopo Energi Batubara - Indonesia
- Bhoruka Overseas - Indonesia
- Baramulti Group, Indonesia
- Australian Coal Association
- Manunggal Multi Energi - Indonesia
- Global Business Power Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Binh Thuan Hamico - Vietnam
- New Zealand Coal & Carbon
- Chettinad Cement Corporation Ltd - India
- Sindya Power Generating Company Private Ltd
- Kideco Jaya Agung - Indonesia
- Savvy Resources Ltd - HongKong
- Siam City Cement PLC, Thailand
- Simpson Spence & Young - Indonesia
- Sakthi Sugars Limited - India
- Global Coal Blending Company Limited - Australia
- SMG Consultants - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Coastal Gujarat Power Limited - India
- Posco Energy - South Korea
- GMR Energy Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kaltim Prima Coal - Indonesia
- Eastern Energy - Thailand
- SMC Global Power, Philippines
- Economic Council, Georgia
- Iligan Light & Power Inc, Philippines
- Makarim & Taira - Indonesia
- Siam City Cement - Thailand
- Planning Commission, India
- Marubeni Corporation - India
- Indonesian Coal Mining Association
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indogreen Group - Indonesia
- Cigading International Bulk Terminal - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Interocean Group of Companies - India
- Semirara Mining and Power Corporation, Philippines
- Global Green Power PLC Corporation, Philippines
- Vedanta Resources Plc - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Billiton Holdings Pty Ltd - Australia
- Directorate Of Revenue Intelligence - India
- Holcim Trading Pte Ltd - Singapore
- Orica Australia Pty. Ltd.
- Neyveli Lignite Corporation Ltd, - India
- Jaiprakash Power Ventures ltd
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