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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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Saturday, 10 September 11
THE FREIGHT MARKET LIKELY TO BE FIRM NEXT WEEK - CAPT. REDDY
COALspot.com - The freight market continued the upward trend during last week with BDI crossing 1,800 points and closing at 1,838 points up by 5.63 ...
Friday, 09 September 11
SUPRA BARA SECURES $20 MILLION LOAN - JP
The Jakarta Post reported that, Coal miner PT Supra Bara Energi says it has secured a US$20 million loan facility from BNP Paribas to buy heavy equi ...
Friday, 09 September 11
CAPESIZE CAN SECURE USD 17-18K SHORT PERIOD - FEARNBULK
Handy
The US Gulf has remained relatively steady, slightly more activity in the South Atlantic with owners aiming for low to mid USD 20k´s f ...
Thursday, 08 September 11
UKRAINES COAL PRODUCTION TO RISE 8% - IFANDP
Industrial fuels & power reported that, Ukraine will increase its coal output by about 8% this year compared to last year, said the country&rsqu ...
Thursday, 08 September 11
DRY BULK MARKETS RALLY COMES TO AN END - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
As was widely expected by analysts and shipbrokers alike, the latest rally of the dry bulk market came to a halt yesterday, with the Baltic Dry Inde ...
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- Latin American Coal - Colombia
- Karbindo Abesyapradhi - Indoneisa
- Bhoruka Overseas - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- VISA Power Limited - India
- Ministry of Mines - Canada
- Aditya Birla Group - India
- Asmin Koalindo Tuhup - Indonesia
- Petron Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- Heidelberg Cement - Germany
- South Luzon Thermal Energy Corporation
- Sindya Power Generating Company Private Ltd
- Borneo Indobara - Indonesia
- Sakthi Sugars Limited - India
- Sinarmas Energy and Mining - Indonesia
- Madhucon Powers Ltd - India
- Barasentosa Lestari - Indonesia
- India Bulls Power Limited - India
- Edison Trading Spa - Italy
- Aboitiz Power Corporation - Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kepco SPC Power Corporation, Philippines
- Semirara Mining and Power Corporation, Philippines
- Eastern Energy - Thailand
- ICICI Bank Limited - India
- Standard Chartered Bank - UAE
- European Bulk Services B.V. - Netherlands
- Directorate General of MIneral and Coal - Indonesia
- Larsen & Toubro Limited - India
- Manunggal Multi Energi - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Thiess Contractors Indonesia
- Eastern Coal Council - USA
- Bahari Cakrawala Sebuku - Indonesia
- Interocean Group of Companies - India
- Formosa Plastics Group - Taiwan
- Price Waterhouse Coopers - Russia
- Marubeni Corporation - India
- Metalloyd Limited - United Kingdom
- Agrawal Coal Company - India
- AsiaOL BioFuels Corp., Philippines
- Central Electricity Authority - India
- Siam City Cement - Thailand
- Globalindo Alam Lestari - Indonesia
- Siam City Cement PLC, Thailand
- Renaissance Capital - South Africa
- IEA Clean Coal Centre - UK
- Pipit Mutiara Jaya. PT, Indonesia
- CIMB Investment Bank - Malaysia
- Gujarat Electricity Regulatory Commission - India
- Bukit Baiduri Energy - Indonesia
- Star Paper Mills Limited - India
- Meenaskhi Energy Private Limited - India
- Global Green Power PLC Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- Indonesian Coal Mining Association
- Kideco Jaya Agung - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Parry Sugars Refinery, India
- PowerSource Philippines DevCo
- Essar Steel Hazira Ltd - India
- Binh Thuan Hamico - Vietnam
- Rio Tinto Coal - Australia
- Tata Chemicals Ltd - India
- The State Trading Corporation of India Ltd
- Deloitte Consulting - India
- Mintek Dendrill Indonesia
- Attock Cement Pakistan Limited
- The Treasury - Australian Government
- Meralco Power Generation, Philippines
- Ambuja Cements Ltd - India
- Pendopo Energi Batubara - Indonesia
- MS Steel International - UAE
- Vizag Seaport Private Limited - India
- Kumho Petrochemical, South Korea
- Indian Oil Corporation Limited
- Indo Tambangraya Megah - Indonesia
- Ministry of Finance - Indonesia
- Antam Resourcindo - Indonesia
- ASAPP Information Group - India
- Posco Energy - South Korea
- Medco Energi Mining Internasional
- Wilmar Investment Holdings
- Malabar Cements Ltd - India
- Electricity Authority, New Zealand
- Australian Commodity Traders Exchange
- Kartika Selabumi Mining - Indonesia
- Bharathi Cement Corporation - India
- GN Power Mariveles Coal Plant, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Indogreen Group - Indonesia
- White Energy Company Limited
- Miang Besar Coal Terminal - Indonesia
- Ministry of Transport, Egypt
- Bhatia International Limited - India
- Lanco Infratech Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Mercuria Energy - Indonesia
- Indika Energy - Indonesia
- Jindal Steel & Power Ltd - India
- Orica Australia Pty. Ltd.
- Banpu Public Company Limited - Thailand
- Sarangani Energy Corporation, Philippines
- Parliament of New Zealand
- Baramulti Group, Indonesia
- SMC Global Power, Philippines
- Xindia Steels Limited - India
- Vedanta Resources Plc - India
- New Zealand Coal & Carbon
- Trasteel International SA, Italy
- Energy Link Ltd, New Zealand
- Mercator Lines Limited - India
- Billiton Holdings Pty Ltd - Australia
- Karaikal Port Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Uttam Galva Steels Limited - India
- Savvy Resources Ltd - HongKong
- Iligan Light & Power Inc, Philippines
- Chamber of Mines of South Africa
- Energy Development Corp, Philippines
- Bangladesh Power Developement Board
- GVK Power & Infra Limited - India
- SMG Consultants - Indonesia
- IHS Mccloskey Coal Group - USA
- Independent Power Producers Association of India
- Global Coal Blending Company Limited - Australia
- Anglo American - United Kingdom
- The University of Queensland
- Port Waratah Coal Services - Australia
- Australian Coal Association
- Wood Mackenzie - Singapore
- Carbofer General Trading SA - India
- Commonwealth Bank - Australia
- PNOC Exploration Corporation - Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Toyota Tsusho Corporation, Japan
- Ceylon Electricity Board - Sri Lanka
- Goldman Sachs - Singapore
- Global Business Power Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Sical Logistics Limited - India
- Coastal Gujarat Power Limited - India
- Indian Energy Exchange, India
- Bulk Trading Sa - Switzerland
- Salva Resources Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Bhushan Steel Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Mjunction Services Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Directorate Of Revenue Intelligence - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- Jaiprakash Power Ventures ltd
- SN Aboitiz Power Inc, Philippines
- Cement Manufacturers Association - India
- Dalmia Cement Bharat India
- Planning Commission, India
- Maheswari Brothers Coal Limited - India
- Gujarat Sidhee Cement - India
- OPG Power Generation Pvt Ltd - India
- Oldendorff Carriers - Singapore
- Minerals Council of Australia
- Thai Mozambique Logistica
- Sojitz Corporation - Japan
- Merrill Lynch Commodities Europe
- TeaM Sual Corporation - Philippines
- Coalindo Energy - Indonesia
- Riau Bara Harum - Indonesia
- Bukit Makmur.PT - Indonesia
- Economic Council, Georgia
- Therma Luzon, Inc, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- GMR Energy Limited - India
- CNBM International Corporation - China
- San Jose City I Power Corp, Philippines
- Timah Investasi Mineral - Indoneisa
- Orica Mining Services - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Cigading International Bulk Terminal - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Georgia Ports Authority, United States
- Neyveli Lignite Corporation Ltd, - India
- Africa Commodities Group - South Africa
- Power Finance Corporation Ltd., India
- McConnell Dowell - Australia
- Semirara Mining Corp, Philippines
- Altura Mining Limited, Indonesia
- Bayan Resources Tbk. - Indonesia
- Coal and Oil Company - UAE
- International Coal Ventures Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- Kapuas Tunggal Persada - Indonesia
- Videocon Industries ltd - India
- Central Java Power - Indonesia
- Makarim & Taira - Indonesia
- Romanian Commodities Exchange
- Gujarat Mineral Development Corp Ltd - India
- Samtan Co., Ltd - South Korea
- Krishnapatnam Port Company Ltd. - India
- GAC Shipping (India) Pvt Ltd
- Tamil Nadu electricity Board
- Intertek Mineral Services - Indonesia
- Leighton Contractors Pty Ltd - Australia
- London Commodity Brokers - England
- Electricity Generating Authority of Thailand
- Ind-Barath Power Infra Limited - India
- Grasim Industreis Ltd - India
- Chettinad Cement Corporation Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- PTC India Limited - India
- Holcim Trading Pte Ltd - Singapore
- Singapore Mercantile Exchange
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sree Jayajothi Cements Limited - India
- Kaltim Prima Coal - Indonesia
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