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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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Friday, 26 August 11
INTRACO EYES US$200 MIO COAL TAKEOVER - INSIDER STORIES
Heavy equipment distributor PT Intraco Penta Tbk, that was founded by Halex Halim, is scouting a coal acquisition with the valuation above US$200 mi ...
Thursday, 25 August 11
OPG EXPECTS COAL PRICES TO REMAIN FIRM IN THE SHORT TERM
COALspot.com - Revenue of OPG, the developer and operator of Group Captive power plants in India up 188% to £33.15m and Income from continuing ...
Thursday, 25 August 11
PAITON POWER LOOKING FOR 3.96 MILLION TONS OF COAL
COALspot.com - PT Pembangkit Jawa Bali (PJB) is looking for 3.96 million tons coal with calorific value 4,800 kcal/kg on as received basis. Accordin ...
Tuesday, 23 August 11
ICMA CALLS GOVERNMENT TO REVIEW EXPORT BAN REGULATION
COALspot.com - Chairman of the Indonesian Coal Mining Association (ICMA) Bob Kamandanu asks the government to review the regulation that being draft ...
Tuesday, 23 August 11
COAL DEMAND IS REMAINED STRONG IN SPITE OF CURRENT GLOBAL ECONOMIC UNCERTAINTY - BUMI
COALspot.com - Indonesia's largest coal producer, PT Bumi Resources, Tbk (BUMI)'s sales revenue has increased to US$1.79 billion (compared with US ...
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- Kaltim Prima Coal - Indonesia
- GVK Power & Infra Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ministry of Transport, Egypt
- Posco Energy - South Korea
- Krishnapatnam Port Company Ltd. - India
- Karaikal Port Pvt Ltd - India
- Wood Mackenzie - Singapore
- Riau Bara Harum - Indonesia
- Siam City Cement PLC, Thailand
- Sojitz Corporation - Japan
- Maharashtra Electricity Regulatory Commission - India
- Anglo American - United Kingdom
- Malabar Cements Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Africa Commodities Group - South Africa
- IHS Mccloskey Coal Group - USA
- Bukit Baiduri Energy - Indonesia
- Bhushan Steel Limited - India
- Power Finance Corporation Ltd., India
- Planning Commission, India
- Indo Tambangraya Megah - Indonesia
- Sree Jayajothi Cements Limited - India
- New Zealand Coal & Carbon
- Meenaskhi Energy Private Limited - India
- Chamber of Mines of South Africa
- Port Waratah Coal Services - Australia
- Semirara Mining and Power Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- Coastal Gujarat Power Limited - India
- Electricity Generating Authority of Thailand
- Jindal Steel & Power Ltd - India
- Simpson Spence & Young - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Borneo Indobara - Indonesia
- CIMB Investment Bank - Malaysia
- Parliament of New Zealand
- Kumho Petrochemical, South Korea
- SN Aboitiz Power Inc, Philippines
- Oldendorff Carriers - Singapore
- Therma Luzon, Inc, Philippines
- Toyota Tsusho Corporation, Japan
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- White Energy Company Limited
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Price Waterhouse Coopers - Russia
- Sinarmas Energy and Mining - Indonesia
- Meralco Power Generation, Philippines
- Standard Chartered Bank - UAE
- Kapuas Tunggal Persada - Indonesia
- Parry Sugars Refinery, India
- Kideco Jaya Agung - Indonesia
- Australian Commodity Traders Exchange
- Marubeni Corporation - India
- International Coal Ventures Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Medco Energi Mining Internasional
- Tamil Nadu electricity Board
- Heidelberg Cement - Germany
- Bahari Cakrawala Sebuku - Indonesia
- Metalloyd Limited - United Kingdom
- Kalimantan Lumbung Energi - Indonesia
- Manunggal Multi Energi - Indonesia
- Chettinad Cement Corporation Ltd - India
- Economic Council, Georgia
- Georgia Ports Authority, United States
- PowerSource Philippines DevCo
- AsiaOL BioFuels Corp., Philippines
- IEA Clean Coal Centre - UK
- Bukit Makmur.PT - Indonesia
- Wilmar Investment Holdings
- Mercator Lines Limited - India
- The University of Queensland
- Baramulti Group, Indonesia
- Aditya Birla Group - India
- ICICI Bank Limited - India
- Thai Mozambique Logistica
- Holcim Trading Pte Ltd - Singapore
- Global Business Power Corporation, Philippines
- Mintek Dendrill Indonesia
- Alfred C Toepfer International GmbH - Germany
- Barasentosa Lestari - Indonesia
- Edison Trading Spa - Italy
- Rashtriya Ispat Nigam Limited - India
- Minerals Council of Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Pipit Mutiara Jaya. PT, Indonesia
- GAC Shipping (India) Pvt Ltd
- Miang Besar Coal Terminal - Indonesia
- Renaissance Capital - South Africa
- Agrawal Coal Company - India
- Essar Steel Hazira Ltd - India
- Orica Australia Pty. Ltd.
- Bangladesh Power Developement Board
- Altura Mining Limited, Indonesia
- Sarangani Energy Corporation, Philippines
- Latin American Coal - Colombia
- European Bulk Services B.V. - Netherlands
- The State Trading Corporation of India Ltd
- Dalmia Cement Bharat India
- Jaiprakash Power Ventures ltd
- Iligan Light & Power Inc, Philippines
- Commonwealth Bank - Australia
- Gujarat Sidhee Cement - India
- Madhucon Powers Ltd - India
- Global Green Power PLC Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- San Jose City I Power Corp, Philippines
- Tata Chemicals Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Mjunction Services Limited - India
- Makarim & Taira - Indonesia
- Maheswari Brothers Coal Limited - India
- VISA Power Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Energy Development Corp, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- McConnell Dowell - Australia
- Binh Thuan Hamico - Vietnam
- Australian Coal Association
- Xindia Steels Limited - India
- Savvy Resources Ltd - HongKong
- Kobexindo Tractors - Indoneisa
- PetroVietnam Power Coal Import and Supply Company
- Bhatia International Limited - India
- GMR Energy Limited - India
- GN Power Mariveles Coal Plant, Philippines
- India Bulls Power Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Banpu Public Company Limited - Thailand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Grasim Industreis Ltd - India
- Vedanta Resources Plc - India
- Kartika Selabumi Mining - Indonesia
- Eastern Energy - Thailand
- PTC India Limited - India
- Directorate Of Revenue Intelligence - India
- Indogreen Group - Indonesia
- Larsen & Toubro Limited - India
- Samtan Co., Ltd - South Korea
- Vizag Seaport Private Limited - India
- Formosa Plastics Group - Taiwan
- Timah Investasi Mineral - Indoneisa
- Trasteel International SA, Italy
- Bharathi Cement Corporation - India
- Singapore Mercantile Exchange
- Central Java Power - Indonesia
- SMG Consultants - Indonesia
- Orica Mining Services - Indonesia
- Videocon Industries ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Interocean Group of Companies - India
- Energy Link Ltd, New Zealand
- Merrill Lynch Commodities Europe
- South Luzon Thermal Energy Corporation
- Mercuria Energy - Indonesia
- Central Electricity Authority - India
- Coalindo Energy - Indonesia
- Ministry of Finance - Indonesia
- Goldman Sachs - Singapore
- Deloitte Consulting - India
- Globalindo Alam Lestari - Indonesia
- LBH Netherlands Bv - Netherlands
- Ind-Barath Power Infra Limited - India
- CNBM International Corporation - China
- Sakthi Sugars Limited - India
- Electricity Authority, New Zealand
- Pendopo Energi Batubara - Indonesia
- Kepco SPC Power Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- The Treasury - Australian Government
- Indian Oil Corporation Limited
- Bulk Trading Sa - Switzerland
- Offshore Bulk Terminal Pte Ltd, Singapore
- Thiess Contractors Indonesia
- Petron Corporation, Philippines
- ASAPP Information Group - India
- Straits Asia Resources Limited - Singapore
- Leighton Contractors Pty Ltd - Australia
- Lanco Infratech Ltd - India
- Uttam Galva Steels Limited - India
- Semirara Mining Corp, Philippines
- Sindya Power Generating Company Private Ltd
- TeaM Sual Corporation - Philippines
- Bayan Resources Tbk. - Indonesia
- Carbofer General Trading SA - India
- Aboitiz Power Corporation - Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Indian Energy Exchange, India
- Intertek Mineral Services - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Indika Energy - Indonesia
- Indonesian Coal Mining Association
- Star Paper Mills Limited - India
- Siam City Cement - Thailand
- Ministry of Mines - Canada
- Billiton Holdings Pty Ltd - Australia
- Romanian Commodities Exchange
- London Commodity Brokers - England
- Ambuja Cements Ltd - India
- Independent Power Producers Association of India
- SMC Global Power, Philippines
- MS Steel International - UAE
- Attock Cement Pakistan Limited
- Antam Resourcindo - Indonesia
- Eastern Coal Council - USA
- Sical Logistics Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Coal and Oil Company - UAE
- Global Coal Blending Company Limited - Australia
- Salva Resources Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- Rio Tinto Coal - Australia
- OPG Power Generation Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Cement Manufacturers Association - India
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