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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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- Eastern Energy - Thailand
- TNB Fuel Sdn Bhd - Malaysia
- Coal and Oil Company - UAE
- India Bulls Power Limited - India
- Renaissance Capital - South Africa
- Videocon Industries ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Uttam Galva Steels Limited - India
- Deloitte Consulting - India
- PTC India Limited - India
- Savvy Resources Ltd - HongKong
- Jaiprakash Power Ventures ltd
- PowerSource Philippines DevCo
- Ceylon Electricity Board - Sri Lanka
- Leighton Contractors Pty Ltd - Australia
- Manunggal Multi Energi - Indonesia
- Bayan Resources Tbk. - Indonesia
- Mjunction Services Limited - India
- Kumho Petrochemical, South Korea
- GMR Energy Limited - India
- Krishnapatnam Port Company Ltd. - India
- Kohat Cement Company Ltd. - Pakistan
- Malabar Cements Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Minerals Council of Australia
- Bangladesh Power Developement Board
- Siam City Cement PLC, Thailand
- Price Waterhouse Coopers - Russia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Borneo Indobara - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Binh Thuan Hamico - Vietnam
- Bhatia International Limited - India
- Orica Australia Pty. Ltd.
- Bulk Trading Sa - Switzerland
- Globalindo Alam Lestari - Indonesia
- Indogreen Group - Indonesia
- Energy Link Ltd, New Zealand
- Vijayanagar Sugar Pvt Ltd - India
- Bhushan Steel Limited - India
- Star Paper Mills Limited - India
- Semirara Mining Corp, Philippines
- Rio Tinto Coal - Australia
- The State Trading Corporation of India Ltd
- Larsen & Toubro Limited - India
- Grasim Industreis Ltd - India
- Altura Mining Limited, Indonesia
- Port Waratah Coal Services - Australia
- Gujarat Mineral Development Corp Ltd - India
- Dalmia Cement Bharat India
- Kaltim Prima Coal - Indonesia
- Georgia Ports Authority, United States
- Wilmar Investment Holdings
- PetroVietnam Power Coal Import and Supply Company
- Vizag Seaport Private Limited - India
- Maheswari Brothers Coal Limited - India
- Gujarat Electricity Regulatory Commission - India
- Trasteel International SA, Italy
- Tamil Nadu electricity Board
- Sree Jayajothi Cements Limited - India
- Singapore Mercantile Exchange
- Thai Mozambique Logistica
- Jorong Barutama Greston.PT - Indonesia
- Posco Energy - South Korea
- Rashtriya Ispat Nigam Limited - India
- Jindal Steel & Power Ltd - India
- Bhoruka Overseas - Indonesia
- Straits Asia Resources Limited - Singapore
- Formosa Plastics Group - Taiwan
- LBH Netherlands Bv - Netherlands
- PNOC Exploration Corporation - Philippines
- Karaikal Port Pvt Ltd - India
- Central Electricity Authority - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Aboitiz Power Corporation - Philippines
- Kobexindo Tractors - Indoneisa
- Salva Resources Pvt Ltd - India
- London Commodity Brokers - England
- MS Steel International - UAE
- Power Finance Corporation Ltd., India
- Maharashtra Electricity Regulatory Commission - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- The Treasury - Australian Government
- Miang Besar Coal Terminal - Indonesia
- Makarim & Taira - Indonesia
- Global Coal Blending Company Limited - Australia
- San Jose City I Power Corp, Philippines
- Coastal Gujarat Power Limited - India
- Xindia Steels Limited - India
- Orica Mining Services - Indonesia
- Romanian Commodities Exchange
- Indo Tambangraya Megah - Indonesia
- European Bulk Services B.V. - Netherlands
- Baramulti Group, Indonesia
- Planning Commission, India
- Kapuas Tunggal Persada - Indonesia
- Ministry of Finance - Indonesia
- SN Aboitiz Power Inc, Philippines
- Semirara Mining and Power Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- IEA Clean Coal Centre - UK
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Global Business Power Corporation, Philippines
- Indonesian Coal Mining Association
- ICICI Bank Limited - India
- Ministry of Transport, Egypt
- Bahari Cakrawala Sebuku - Indonesia
- OPG Power Generation Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Agrawal Coal Company - India
- Karbindo Abesyapradhi - Indoneisa
- Sojitz Corporation - Japan
- The University of Queensland
- Essar Steel Hazira Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Standard Chartered Bank - UAE
- Gujarat Sidhee Cement - India
- Commonwealth Bank - Australia
- Ambuja Cements Ltd - India
- Australian Coal Association
- Electricity Authority, New Zealand
- Pipit Mutiara Jaya. PT, Indonesia
- Directorate Of Revenue Intelligence - India
- Intertek Mineral Services - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Kartika Selabumi Mining - Indonesia
- Parry Sugars Refinery, India
- Lanco Infratech Ltd - India
- Electricity Generating Authority of Thailand
- SMC Global Power, Philippines
- Carbofer General Trading SA - India
- Interocean Group of Companies - India
- Goldman Sachs - Singapore
- Independent Power Producers Association of India
- Mercuria Energy - Indonesia
- Iligan Light & Power Inc, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Tata Chemicals Ltd - India
- McConnell Dowell - Australia
- New Zealand Coal & Carbon
- Riau Bara Harum - Indonesia
- Aditya Birla Group - India
- Petron Corporation, Philippines
- ASAPP Information Group - India
- Chamber of Mines of South Africa
- GN Power Mariveles Coal Plant, Philippines
- Banpu Public Company Limited - Thailand
- VISA Power Limited - India
- Simpson Spence & Young - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Eastern Coal Council - USA
- South Luzon Thermal Energy Corporation
- Africa Commodities Group - South Africa
- Therma Luzon, Inc, Philippines
- Anglo American - United Kingdom
- Coalindo Energy - Indonesia
- Chettinad Cement Corporation Ltd - India
- CNBM International Corporation - China
- Marubeni Corporation - India
- SMG Consultants - Indonesia
- Metalloyd Limited - United Kingdom
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sinarmas Energy and Mining - Indonesia
- Wood Mackenzie - Singapore
- TeaM Sual Corporation - Philippines
- CIMB Investment Bank - Malaysia
- Indian Energy Exchange, India
- Ind-Barath Power Infra Limited - India
- Sarangani Energy Corporation, Philippines
- Medco Energi Mining Internasional
- Bukit Baiduri Energy - Indonesia
- GVK Power & Infra Limited - India
- Alfred C Toepfer International GmbH - Germany
- Bukit Makmur.PT - Indonesia
- Mercator Lines Limited - India
- Meralco Power Generation, Philippines
- Heidelberg Cement - Germany
- Global Green Power PLC Corporation, Philippines
- Latin American Coal - Colombia
- Energy Development Corp, Philippines
- Attock Cement Pakistan Limited
- White Energy Company Limited
- Sakthi Sugars Limited - India
- Toyota Tsusho Corporation, Japan
- Oldendorff Carriers - Singapore
- Indika Energy - Indonesia
- Barasentosa Lestari - Indonesia
- Sindya Power Generating Company Private Ltd
- Pendopo Energi Batubara - Indonesia
- Vedanta Resources Plc - India
- Bharathi Cement Corporation - India
- Parliament of New Zealand
- Economic Council, Georgia
- Samtan Co., Ltd - South Korea
- Merrill Lynch Commodities Europe
- Ministry of Mines - Canada
- Neyveli Lignite Corporation Ltd, - India
- Kepco SPC Power Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- GAC Shipping (India) Pvt Ltd
- Edison Trading Spa - Italy
- Billiton Holdings Pty Ltd - Australia
- Sical Logistics Limited - India
- Antam Resourcindo - Indonesia
- Cement Manufacturers Association - India
- IHS Mccloskey Coal Group - USA
- Thiess Contractors Indonesia
- Meenaskhi Energy Private Limited - India
- Mintek Dendrill Indonesia
- Siam City Cement - Thailand
- Timah Investasi Mineral - Indoneisa
- Madhucon Powers Ltd - India
- Central Java Power - Indonesia
- Indian Oil Corporation Limited
- Australian Commodity Traders Exchange
- International Coal Ventures Pvt Ltd - India
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