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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, 10 August 11
KILLARA RESOURCES TO ACQUIRE SIX COAL CONCESSIONS OF TASON HOLDINGS
COALspot.com - Killara Resources Limited, an Australian listed company has formed PT Tavesco Killara Energy (TKE), a joint company with PT Tavesco I ...
Wednesday, 10 August 11
RESOURCE NATIONALISM IS MAIN BUSINESS RISK FOR MINING SECTORS, E&Y SURVEY
Resource nationalism is top of the business risk list for mining and metals companies around the world, while supply capacity constraint issues cont ...
Wednesday, 10 August 11
INDONESIAN COAL MINING ASSOCIATION OPPOSES LOW-GRADE COAL EXPORT BAN
COALspot.com - The Indonesian Coal Mining Association (ICMA) frowns on and challenges the government plan to ban the low-grade coal export inf ...
Wednesday, 10 August 11
ABM INVESTAMA TO OFFLOAD 20% IPO
Integrated coal mining PT ABM Investama, affiliated company of Tiara Marga Trakindo Group, aims to dispose 20% stake during an initial public offeri ...
Tuesday, 09 August 11
INDONESIAS COAL PRODUCTION GREW BY 19.4% LAST YEAR - BP
COALspot.com - Indonesia’s coal production grew by 19.4% last year to 305.879 million tonnes from 256.181 million tonnes in 2009, the fastest ...
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- Standard Chartered Bank - UAE
- Georgia Ports Authority, United States
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bhoruka Overseas - Indonesia
- PowerSource Philippines DevCo
- Tamil Nadu electricity Board
- Africa Commodities Group - South Africa
- Alfred C Toepfer International GmbH - Germany
- Global Coal Blending Company Limited - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Agrawal Coal Company - India
- Riau Bara Harum - Indonesia
- Borneo Indobara - Indonesia
- Timah Investasi Mineral - Indoneisa
- Parry Sugars Refinery, India
- Commonwealth Bank - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Wilmar Investment Holdings
- Simpson Spence & Young - Indonesia
- Barasentosa Lestari - Indonesia
- Tata Chemicals Ltd - India
- ASAPP Information Group - India
- SMC Global Power, Philippines
- McConnell Dowell - Australia
- Merrill Lynch Commodities Europe
- Kideco Jaya Agung - Indonesia
- IHS Mccloskey Coal Group - USA
- Economic Council, Georgia
- Lanco Infratech Ltd - India
- South Luzon Thermal Energy Corporation
- Ambuja Cements Ltd - India
- Gujarat Sidhee Cement - India
- Australian Coal Association
- Ceylon Electricity Board - Sri Lanka
- Oldendorff Carriers - Singapore
- Indian Oil Corporation Limited
- Minerals Council of Australia
- Eastern Energy - Thailand
- Malabar Cements Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Siam City Cement - Thailand
- Karbindo Abesyapradhi - Indoneisa
- Sindya Power Generating Company Private Ltd
- San Jose City I Power Corp, Philippines
- Makarim & Taira - Indonesia
- Jaiprakash Power Ventures ltd
- Energy Link Ltd, New Zealand
- Indogreen Group - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Coastal Gujarat Power Limited - India
- Wood Mackenzie - Singapore
- GMR Energy Limited - India
- Kepco SPC Power Corporation, Philippines
- Grasim Industreis Ltd - India
- Central Electricity Authority - India
- Thiess Contractors Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Pendopo Energi Batubara - Indonesia
- Latin American Coal - Colombia
- New Zealand Coal & Carbon
- SN Aboitiz Power Inc, Philippines
- Coal and Oil Company - UAE
- Xindia Steels Limited - India
- Kartika Selabumi Mining - Indonesia
- Orica Mining Services - Indonesia
- Marubeni Corporation - India
- Jindal Steel & Power Ltd - India
- European Bulk Services B.V. - Netherlands
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- Star Paper Mills Limited - India
- Miang Besar Coal Terminal - Indonesia
- Baramulti Group, Indonesia
- Romanian Commodities Exchange
- Dalmia Cement Bharat India
- Global Green Power PLC Corporation, Philippines
- Singapore Mercantile Exchange
- Banpu Public Company Limited - Thailand
- Sarangani Energy Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- Binh Thuan Hamico - Vietnam
- Vedanta Resources Plc - India
- ICICI Bank Limited - India
- Bangladesh Power Developement Board
- Aditya Birla Group - India
- Kohat Cement Company Ltd. - Pakistan
- Mjunction Services Limited - India
- CNBM International Corporation - China
- Larsen & Toubro Limited - India
- Sinarmas Energy and Mining - Indonesia
- Renaissance Capital - South Africa
- Goldman Sachs - Singapore
- Chamber of Mines of South Africa
- Electricity Generating Authority of Thailand
- MS Steel International - UAE
- Intertek Mineral Services - Indonesia
- IEA Clean Coal Centre - UK
- Medco Energi Mining Internasional
- Krishnapatnam Port Company Ltd. - India
- Sical Logistics Limited - India
- PNOC Exploration Corporation - Philippines
- Aboitiz Power Corporation - Philippines
- Metalloyd Limited - United Kingdom
- GAC Shipping (India) Pvt Ltd
- Carbofer General Trading SA - India
- Indonesian Coal Mining Association
- Bukit Makmur.PT - Indonesia
- Rashtriya Ispat Nigam Limited - India
- International Coal Ventures Pvt Ltd - India
- White Energy Company Limited
- Edison Trading Spa - Italy
- Asmin Koalindo Tuhup - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Interocean Group of Companies - India
- CIMB Investment Bank - Malaysia
- Coalindo Energy - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Anglo American - United Kingdom
- Semirara Mining Corp, Philippines
- Siam City Cement PLC, Thailand
- Essar Steel Hazira Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Bukit Baiduri Energy - Indonesia
- GVK Power & Infra Limited - India
- Altura Mining Limited, Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Heidelberg Cement - Germany
- Straits Asia Resources Limited - Singapore
- Vizag Seaport Private Limited - India
- Uttam Galva Steels Limited - India
- Posco Energy - South Korea
- Therma Luzon, Inc, Philippines
- PTC India Limited - India
- Port Waratah Coal Services - Australia
- Meenaskhi Energy Private Limited - India
- OPG Power Generation Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- Directorate Of Revenue Intelligence - India
- Ministry of Mines - Canada
- Vijayanagar Sugar Pvt Ltd - India
- Trasteel International SA, Italy
- Australian Commodity Traders Exchange
- Formosa Plastics Group - Taiwan
- Mintek Dendrill Indonesia
- Meralco Power Generation, Philippines
- VISA Power Limited - India
- Kumho Petrochemical, South Korea
- Globalindo Alam Lestari - Indonesia
- The State Trading Corporation of India Ltd
- Price Waterhouse Coopers - Russia
- Cigading International Bulk Terminal - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Mercuria Energy - Indonesia
- Kapuas Tunggal Persada - Indonesia
- London Commodity Brokers - England
- India Bulls Power Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Parliament of New Zealand
- Bhatia International Limited - India
- Eastern Coal Council - USA
- Maharashtra Electricity Regulatory Commission - India
- Gujarat Mineral Development Corp Ltd - India
- Sakthi Sugars Limited - India
- Indika Energy - Indonesia
- LBH Netherlands Bv - Netherlands
- TeaM Sual Corporation - Philippines
- Gujarat Electricity Regulatory Commission - India
- Energy Development Corp, Philippines
- The University of Queensland
- Electricity Authority, New Zealand
- Madhucon Powers Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Ind-Barath Power Infra Limited - India
- Manunggal Multi Energi - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- SMG Consultants - Indonesia
- Petron Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- Mercator Lines Limited - India
- Ministry of Transport, Egypt
- Toyota Tsusho Corporation, Japan
- Holcim Trading Pte Ltd - Singapore
- Attock Cement Pakistan Limited
- Global Business Power Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- The Treasury - Australian Government
- Bulk Trading Sa - Switzerland
- Semirara Mining and Power Corporation, Philippines
- Bhushan Steel Limited - India
- Rio Tinto Coal - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Sojitz Corporation - Japan
- Bharathi Cement Corporation - India
- Savvy Resources Ltd - HongKong
- Salva Resources Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- Sree Jayajothi Cements Limited - India
- Maheswari Brothers Coal Limited - India
- Ministry of Finance - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Indian Energy Exchange, India
- Orica Australia Pty. Ltd.
- Central Java Power - Indonesia
- Indo Tambangraya Megah - Indonesia
- Planning Commission, India
- Cement Manufacturers Association - India
- Videocon Industries ltd - India
- Power Finance Corporation Ltd., India
- Kalimantan Lumbung Energi - Indonesia
- Independent Power Producers Association of India
- Samtan Co., Ltd - South Korea
- Pipit Mutiara Jaya. PT, Indonesia
- Antam Resourcindo - Indonesia
- Thai Mozambique Logistica
- Deloitte Consulting - India
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