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