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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, 03 September 11
FEW SHIPS REPORTED FIXED FROM INDONESIA TO INDIA - VISTAAR
COALspot.com - The freight market continued the upward trend during last week with BDI up by about 13 pct closing at 1,740 points and cape index up ...
Saturday, 03 September 11
TNPL TO BUY 240K MT OF NON-COKING COAL
COALspot.com - Tamil Nadu Newsprint and Papers Limited (TNPL), is seeking to procure 240,000 MT +/- 5 percent of non-coking imported coal with ...
Friday, 02 September 11
CAPESIZE DEMAND LIFTS DRY BULK MARKET ONCE AGAIN - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
In what proves to be the best week of the year for Capesize owners, strong demand has helped propel the dry bulk market to new highs yesterday. The ...
Thursday, 01 September 11
EWP TO BUY 195KT OF VIETNAM COAL
COALspot.com - Korea Midland Power (KOMIPO) has issued an International open bidding for 490kt of sub bituminous coal, according to a bid invitation ...
Thursday, 01 September 11
DRY BULK MARKET TAKES GREAT LEAP FORWARD - NIKOS ROUSSANOGLOU
In what turned out to be a rather hopeful ending of the month, the last day of August saw the dry bulk market’s benchmark, the BDI (Baltic Dry ...
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- ICICI Bank Limited - India
- Edison Trading Spa - Italy
- Meralco Power Generation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Trasteel International SA, Italy
- Heidelberg Cement - Germany
- Power Finance Corporation Ltd., India
- Port Waratah Coal Services - Australia
- GMR Energy Limited - India
- SMG Consultants - Indonesia
- Karaikal Port Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Cigading International Bulk Terminal - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Latin American Coal - Colombia
- TeaM Sual Corporation - Philippines
- Sree Jayajothi Cements Limited - India
- Manunggal Multi Energi - Indonesia
- Rashtriya Ispat Nigam Limited - India
- McConnell Dowell - Australia
- Kobexindo Tractors - Indoneisa
- Mercuria Energy - Indonesia
- Bhoruka Overseas - Indonesia
- Bayan Resources Tbk. - Indonesia
- Electricity Authority, New Zealand
- SMC Global Power, Philippines
- Oldendorff Carriers - Singapore
- Dalmia Cement Bharat India
- Electricity Generating Authority of Thailand
- Coastal Gujarat Power Limited - India
- Bulk Trading Sa - Switzerland
- Iligan Light & Power Inc, Philippines
- Indo Tambangraya Megah - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Kartika Selabumi Mining - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Global Green Power PLC Corporation, Philippines
- Therma Luzon, Inc, Philippines
- Commonwealth Bank - Australia
- PetroVietnam Power Coal Import and Supply Company
- Madhucon Powers Ltd - India
- Mercator Lines Limited - India
- Uttam Galva Steels Limited - India
- Vedanta Resources Plc - India
- Sinarmas Energy and Mining - Indonesia
- Timah Investasi Mineral - Indoneisa
- Ind-Barath Power Infra Limited - India
- Georgia Ports Authority, United States
- GVK Power & Infra Limited - India
- Singapore Mercantile Exchange
- The University of Queensland
- Semirara Mining and Power Corporation, Philippines
- Ministry of Mines - Canada
- Simpson Spence & Young - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Salva Resources Pvt Ltd - India
- Ministry of Finance - Indonesia
- Wilmar Investment Holdings
- Jorong Barutama Greston.PT - Indonesia
- Chettinad Cement Corporation Ltd - India
- Meenaskhi Energy Private Limited - India
- CNBM International Corporation - China
- Indogreen Group - Indonesia
- Agrawal Coal Company - India
- Global Coal Blending Company Limited - Australia
- Coal and Oil Company - UAE
- AsiaOL BioFuels Corp., Philippines
- Holcim Trading Pte Ltd - Singapore
- Bukit Baiduri Energy - Indonesia
- Cement Manufacturers Association - India
- Tamil Nadu electricity Board
- San Jose City I Power Corp, Philippines
- VISA Power Limited - India
- European Bulk Services B.V. - Netherlands
- Miang Besar Coal Terminal - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Thiess Contractors Indonesia
- Indika Energy - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Energy Development Corp, Philippines
- Videocon Industries ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Planning Commission, India
- Sakthi Sugars Limited - India
- Toyota Tsusho Corporation, Japan
- Economic Council, Georgia
- Orica Australia Pty. Ltd.
- Larsen & Toubro Limited - India
- India Bulls Power Limited - India
- Eastern Energy - Thailand
- Posco Energy - South Korea
- Billiton Holdings Pty Ltd - Australia
- Indian Energy Exchange, India
- Siam City Cement PLC, Thailand
- Kapuas Tunggal Persada - Indonesia
- Antam Resourcindo - Indonesia
- PNOC Exploration Corporation - Philippines
- Banpu Public Company Limited - Thailand
- CIMB Investment Bank - Malaysia
- Vizag Seaport Private Limited - India
- Lanco Infratech Ltd - India
- The State Trading Corporation of India Ltd
- Wood Mackenzie - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indian Oil Corporation Limited
- Kepco SPC Power Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- Mjunction Services Limited - India
- IHS Mccloskey Coal Group - USA
- Australian Commodity Traders Exchange
- Makarim & Taira - Indonesia
- Bhatia International Limited - India
- Sojitz Corporation - Japan
- Coalindo Energy - Indonesia
- Bharathi Cement Corporation - India
- Petron Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Energy Link Ltd, New Zealand
- Independent Power Producers Association of India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Central Electricity Authority - India
- Global Business Power Corporation, Philippines
- Australian Coal Association
- LBH Netherlands Bv - Netherlands
- Jaiprakash Power Ventures ltd
- Mintek Dendrill Indonesia
- Formosa Plastics Group - Taiwan
- Deloitte Consulting - India
- Aditya Birla Group - India
- GAC Shipping (India) Pvt Ltd
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Grasim Industreis Ltd - India
- Maheswari Brothers Coal Limited - India
- Carbofer General Trading SA - India
- Metalloyd Limited - United Kingdom
- Globalindo Alam Lestari - Indonesia
- Straits Asia Resources Limited - Singapore
- International Coal Ventures Pvt Ltd - India
- Semirara Mining Corp, Philippines
- Gujarat Sidhee Cement - India
- Standard Chartered Bank - UAE
- Sical Logistics Limited - India
- Leighton Contractors Pty Ltd - Australia
- Eastern Coal Council - USA
- Essar Steel Hazira Ltd - India
- Jindal Steel & Power Ltd - India
- Savvy Resources Ltd - HongKong
- The Treasury - Australian Government
- Gujarat Mineral Development Corp Ltd - India
- Pendopo Energi Batubara - Indonesia
- White Energy Company Limited
- London Commodity Brokers - England
- PTC India Limited - India
- Star Paper Mills Limited - India
- Siam City Cement - Thailand
- Bukit Makmur.PT - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Kaltim Prima Coal - Indonesia
- Anglo American - United Kingdom
- Thai Mozambique Logistica
- Intertek Mineral Services - Indonesia
- Price Waterhouse Coopers - Russia
- Directorate Of Revenue Intelligence - India
- Bhushan Steel Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Interocean Group of Companies - India
- Pipit Mutiara Jaya. PT, Indonesia
- South Luzon Thermal Energy Corporation
- Indonesian Coal Mining Association
- PowerSource Philippines DevCo
- Tata Chemicals Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Renaissance Capital - South Africa
- Baramulti Group, Indonesia
- Parliament of New Zealand
- Bahari Cakrawala Sebuku - Indonesia
- Africa Commodities Group - South Africa
- Borneo Indobara - Indonesia
- Malabar Cements Ltd - India
- Goldman Sachs - Singapore
- Altura Mining Limited, Indonesia
- Sarangani Energy Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Aboitiz Power Corporation - Philippines
- Minerals Council of Australia
- Orica Mining Services - Indonesia
- Marubeni Corporation - India
- ASAPP Information Group - India
- Kideco Jaya Agung - Indonesia
- Riau Bara Harum - Indonesia
- Binh Thuan Hamico - Vietnam
- Bangladesh Power Developement Board
- Barasentosa Lestari - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- MS Steel International - UAE
- Merrill Lynch Commodities Europe
- Romanian Commodities Exchange
- Parry Sugars Refinery, India
- Samtan Co., Ltd - South Korea
- Alfred C Toepfer International GmbH - Germany
- Central Java Power - Indonesia
- Medco Energi Mining Internasional
- Ministry of Transport, Egypt
- OPG Power Generation Pvt Ltd - India
- Kumho Petrochemical, South Korea
- Chamber of Mines of South Africa
- New Zealand Coal & Carbon
- Rio Tinto Coal - Australia
- Ambuja Cements Ltd - India
- Xindia Steels Limited - India
- Attock Cement Pakistan Limited
- SN Aboitiz Power Inc, Philippines
- IEA Clean Coal Centre - UK
- Neyveli Lignite Corporation Ltd, - India
- TNB Fuel Sdn Bhd - Malaysia
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