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Monday, 16 March 09
ADARO TO BOLSTER SUPPLY CHAIN THROUGH ACQUISITIONS - THE JAKARTA POST


PT Adaro Energy Tbk, Indonesia's second-largest coal producer, plans to acquire a coal barging and transshipment company to improve its supply chain, the company said in a statement.

Adaro did not identify companies being targeted for acquisition, but said negotiations were taking place and an announcement was planned in the coming weeks.

“As our coal mine is located quite far inland, it is imperative that we acquire direct control of inland waterway transportation and ship loading,” said Ah Hoo Chia, Adaro’s operations director.

“We already control a portion of the mining and overland transportation and own a port facility; now we can be completely linked from pit to port.”

The firm said it expected the acquisition value would not exceed $100 million and would be funded from existing cash and operating cash flows.

‘Now we can be completely linked from pit to port’ Ah Hoo Chia, operations director, PT Adaro Energy Tbk With the planned acquisition, the firm said it expected additional capital expenditure on top of the $120 million capital expenditure planned for this year. To read more The Jakarta Globe 



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Recent News

Monday, 23 March 09
NIPPON STEEL, BMA AGREE TO 57 PCT CUT IN COAL PRICE - REUTERS
Nippon Steel Corp has agreed with Australia's BHP Billiton Mitsubishi Alliance (BMA) to pay $128 to $129 per tonne for coking coal in the year from ...


Monday, 23 March 09
STRAITS TO SELL STAKE IN COAL ASSETS TO PTT -THEAUSTRALIAN.NEWS.COM
STRAITS Resources will sell a 60 per cent stake in its Indonesian coal assets to Thailand's PTT International Co. for $US335 million. The transa ...


Monday, 23 March 09
BMA TAKES 60 PCT CUT IN JAPAN COKING COAL PRICE-CITI - REUTERS
BHP Billiton Mitsubishi Alliance (BMA), the world's top coking coal exporter, has agreed to accept a discount of around 60 percent for the steel-ma ...


Sunday, 22 March 09
SHENHUA ENERGY'S 2009 COAL PRODUCTION MAY GAIN 8% - BLOOMBERG
China Shenhua Energy Co., the nation’s biggest coal producer, may increase production of the energy fuel by about 8 percent this year, slower ...


Friday, 20 March 09
INDONESIA ORDERS TEMPORARY HALT AT BAYAN COAL MINE - REUTERS
Indonesia has ordered a coal mining unit of PT Bayan Resources to temporarily stop production for operating outside approved areas, a government off ...


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