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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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Monday, 22 August 11
MACRO ECONOMICS - PETER SAND BIMCO / HELLENIC SHIPPING
The US is jeopardising the global recovery as job creation remains top challenge across the board.
Global economy: While growth in most emerging ...
Sunday, 21 August 11
SUPRAMAX AVAILABILITY WAS TIGHT DUE TO UPCOMING RAMADAN HOLIDAYS
COALspot.com - The financial markets have been in turmoil with all major stock exchanges down and uncertainty prevails. However the shipping market ...
Sunday, 21 August 11
TUAH TURANGGA ACQUIRES DUTA NURCAHYA
Coal miner PT Tuah Turangga Agung, a wholly owned subsidiary of PT United Tractors Tbk (UNTR) via PT Pamapersada Nusantara), has agreed to acquire 6 ...
Friday, 19 August 11
INDIAS CICTL HAS ACHIEVED ONE MILLION TONS OF DISCHARGE
COALspot.com - Chettinad International Coal Terminal (CICTL) in Ennore port, a state of the art mechanized coal terminal, which was inaugurated on 28t ...
Friday, 19 August 11
AUSTRALIAS' ATH TO ACQUIRE 60% OF APUAH COAL MINE IN INDONESIA
COALspot.com - Australian listed company, Atech Holdings Limited (ATH) has entered into a conditional binding term sheet to acquire 60 percent stake ...
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- CNBM International Corporation - China
- Banpu Public Company Limited - Thailand
- Neyveli Lignite Corporation Ltd, - India
- Ceylon Electricity Board - Sri Lanka
- Baramulti Group, Indonesia
- New Zealand Coal & Carbon
- Therma Luzon, Inc, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- The Treasury - Australian Government
- Deloitte Consulting - India
- GMR Energy Limited - India
- Gujarat Electricity Regulatory Commission - India
- Merrill Lynch Commodities Europe
- Kapuas Tunggal Persada - Indonesia
- Economic Council, Georgia
- Romanian Commodities Exchange
- Bhoruka Overseas - Indonesia
- Karaikal Port Pvt Ltd - India
- Planning Commission, India
- Jorong Barutama Greston.PT - Indonesia
- PowerSource Philippines DevCo
- SN Aboitiz Power Inc, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Thai Mozambique Logistica
- VISA Power Limited - India
- Samtan Co., Ltd - South Korea
- Lanco Infratech Ltd - India
- Gujarat Sidhee Cement - India
- GVK Power & Infra Limited - India
- Parry Sugars Refinery, India
- Intertek Mineral Services - Indonesia
- Savvy Resources Ltd - HongKong
- Sinarmas Energy and Mining - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- CIMB Investment Bank - Malaysia
- Tamil Nadu electricity Board
- Siam City Cement PLC, Thailand
- Georgia Ports Authority, United States
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Pipit Mutiara Jaya. PT, Indonesia
- Simpson Spence & Young - Indonesia
- Mercator Lines Limited - India
- Bukit Baiduri Energy - Indonesia
- Oldendorff Carriers - Singapore
- Global Green Power PLC Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- TNB Fuel Sdn Bhd - Malaysia
- Bulk Trading Sa - Switzerland
- Riau Bara Harum - Indonesia
- Coalindo Energy - Indonesia
- Bhushan Steel Limited - India
- Commonwealth Bank - Australia
- Petron Corporation, Philippines
- Orica Australia Pty. Ltd.
- India Bulls Power Limited - India
- Straits Asia Resources Limited - Singapore
- Pendopo Energi Batubara - Indonesia
- Mjunction Services Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- Sakthi Sugars Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Thiess Contractors Indonesia
- Kepco SPC Power Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Bayan Resources Tbk. - Indonesia
- Bangladesh Power Developement Board
- London Commodity Brokers - England
- Price Waterhouse Coopers - Russia
- Power Finance Corporation Ltd., India
- Globalindo Alam Lestari - Indonesia
- Xindia Steels Limited - India
- TeaM Sual Corporation - Philippines
- Parliament of New Zealand
- Sical Logistics Limited - India
- Port Waratah Coal Services - Australia
- Orica Mining Services - Indonesia
- MS Steel International - UAE
- Altura Mining Limited, Indonesia
- Vedanta Resources Plc - India
- Wilmar Investment Holdings
- Independent Power Producers Association of India
- Electricity Generating Authority of Thailand
- Bhatia International Limited - India
- Goldman Sachs - Singapore
- Indo Tambangraya Megah - Indonesia
- OPG Power Generation Pvt Ltd - India
- Energy Link Ltd, New Zealand
- IEA Clean Coal Centre - UK
- Leighton Contractors Pty Ltd - Australia
- Coal and Oil Company - UAE
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kumho Petrochemical, South Korea
- Kaltim Prima Coal - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Indonesian Coal Mining Association
- Eastern Coal Council - USA
- Ministry of Mines - Canada
- Miang Besar Coal Terminal - Indonesia
- Iligan Light & Power Inc, Philippines
- Carbofer General Trading SA - India
- PTC India Limited - India
- Kobexindo Tractors - Indoneisa
- PNOC Exploration Corporation - Philippines
- Antam Resourcindo - Indonesia
- Renaissance Capital - South Africa
- Global Business Power Corporation, Philippines
- Central Electricity Authority - India
- Holcim Trading Pte Ltd - Singapore
- Jindal Steel & Power Ltd - India
- Heidelberg Cement - Germany
- Anglo American - United Kingdom
- Chettinad Cement Corporation Ltd - India
- Cement Manufacturers Association - India
- Attock Cement Pakistan Limited
- Sindya Power Generating Company Private Ltd
- Asmin Koalindo Tuhup - Indonesia
- LBH Netherlands Bv - Netherlands
- Latin American Coal - Colombia
- AsiaOL BioFuels Corp., Philippines
- Maheswari Brothers Coal Limited - India
- Krishnapatnam Port Company Ltd. - India
- Agrawal Coal Company - India
- Interocean Group of Companies - India
- SMC Global Power, Philippines
- South Luzon Thermal Energy Corporation
- White Energy Company Limited
- Central Java Power - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Essar Steel Hazira Ltd - India
- Dalmia Cement Bharat India
- Global Coal Blending Company Limited - Australia
- Singapore Mercantile Exchange
- Aditya Birla Group - India
- Chamber of Mines of South Africa
- Semirara Mining and Power Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- GAC Shipping (India) Pvt Ltd
- Sojitz Corporation - Japan
- Uttam Galva Steels Limited - India
- Edison Trading Spa - Italy
- Energy Development Corp, Philippines
- Salva Resources Pvt Ltd - India
- ASAPP Information Group - India
- Directorate Of Revenue Intelligence - India
- Madhucon Powers Ltd - India
- Africa Commodities Group - South Africa
- Malabar Cements Ltd - India
- Kideco Jaya Agung - Indonesia
- Medco Energi Mining Internasional
- Sree Jayajothi Cements Limited - India
- Star Paper Mills Limited - India
- Ministry of Transport, Egypt
- Wood Mackenzie - Singapore
- Billiton Holdings Pty Ltd - Australia
- Tata Chemicals Ltd - India
- Marubeni Corporation - India
- Rio Tinto Coal - Australia
- Standard Chartered Bank - UAE
- Coastal Gujarat Power Limited - India
- Larsen & Toubro Limited - India
- Semirara Mining Corp, Philippines
- Indian Oil Corporation Limited
- Maharashtra Electricity Regulatory Commission - India
- Indogreen Group - Indonesia
- Ambuja Cements Ltd - India
- Indika Energy - Indonesia
- Posco Energy - South Korea
- Ind-Barath Power Infra Limited - India
- Electricity Authority, New Zealand
- Timah Investasi Mineral - Indoneisa
- Kartika Selabumi Mining - Indonesia
- Formosa Plastics Group - Taiwan
- Metalloyd Limited - United Kingdom
- Kohat Cement Company Ltd. - Pakistan
- Petrochimia International Co. Ltd.- Taiwan
- Siam City Cement - Thailand
- SMG Consultants - Indonesia
- Videocon Industries ltd - India
- The State Trading Corporation of India Ltd
- The University of Queensland
- Meralco Power Generation, Philippines
- International Coal Ventures Pvt Ltd - India
- Makarim & Taira - Indonesia
- Barasentosa Lestari - Indonesia
- Minerals Council of Australia
- Trasteel International SA, Italy
- McConnell Dowell - Australia
- Indian Energy Exchange, India
- Ministry of Finance - Indonesia
- Vizag Seaport Private Limited - India
- Manunggal Multi Energi - Indonesia
- Australian Coal Association
- IHS Mccloskey Coal Group - USA
- Bharathi Cement Corporation - India
- Cigading International Bulk Terminal - Indonesia
- Mercuria Energy - Indonesia
- Binh Thuan Hamico - Vietnam
- Grasim Industreis Ltd - India
- Mintek Dendrill Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Borneo Indobara - Indonesia
- Jaiprakash Power Ventures ltd
- San Jose City I Power Corp, Philippines
- ICICI Bank Limited - India
- European Bulk Services B.V. - Netherlands
- Aboitiz Power Corporation - Philippines
- Bukit Makmur.PT - Indonesia
- Eastern Energy - Thailand
- Australian Commodity Traders Exchange
- Sarangani Energy Corporation, Philippines
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