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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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Wednesday, 17 August 11
BUMI'S H1 UNDERLYING OPERATING PROFIT $62 MILLION
COALspot.com - Bumi PLC , posted underlying first-half operating profit of $62 million and production at PT Bumi Resources and PT Berau increased to ...
Wednesday, 17 August 11
SHIP OWNERS COULD FACE PAIN ON THE BACK OF GLOOMY ECONOMYS PREDICTIONS - HELLENIC SHIPPING
The latest market turmoil, coupled with the renewed risk of a global recession could very well signal more troubled times for ship owners of all shi ...
Tuesday, 16 August 11
CHALLENGER ENTERED INTO CSPA WITH PELANGI KERTANEGARA TO ACQUIRE 100% STAKE
COALspot.com - Challenger Deep Resources Corp., through its wholly owned subsidiary, P.T. Bestindo Energy, has exercised its option to purchase an a ...
Monday, 15 August 11
ADARO ENERGYS NET INCOME MORE THAN DOUBLES IN FIRST HALF 2011
COALspot.com - Indonesian’s second largest coal producer, Adaro Energy, booked net profit US$ 268 million in the first half 2011, rose two-fol ...
Monday, 15 August 11
INDIAS MALABAR CEMENTS SEEK TO IMPORT 40,000 TONS OF COAL
COALspot.com - Malabar Cements Ltd., India's Keralaa government owned cement factory is seeking to import 40K metric tons of non-coking coal throug ...
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- Thiess Contractors Indonesia
- Pendopo Energi Batubara - Indonesia
- Australian Commodity Traders Exchange
- Asmin Koalindo Tuhup - Indonesia
- Binh Thuan Hamico - Vietnam
- Star Paper Mills Limited - India
- Vizag Seaport Private Limited - India
- Georgia Ports Authority, United States
- Directorate Of Revenue Intelligence - India
- Gujarat Electricity Regulatory Commission - India
- Karbindo Abesyapradhi - Indoneisa
- Oldendorff Carriers - Singapore
- Chamber of Mines of South Africa
- Jorong Barutama Greston.PT - Indonesia
- Indika Energy - Indonesia
- Economic Council, Georgia
- Simpson Spence & Young - Indonesia
- Planning Commission, India
- Lanco Infratech Ltd - India
- Mintek Dendrill Indonesia
- Timah Investasi Mineral - Indoneisa
- SMC Global Power, Philippines
- Central Electricity Authority - India
- Indian Energy Exchange, India
- Semirara Mining Corp, Philippines
- Sindya Power Generating Company Private Ltd
- Baramulti Group, Indonesia
- Rashtriya Ispat Nigam Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Agrawal Coal Company - India
- Billiton Holdings Pty Ltd - Australia
- Renaissance Capital - South Africa
- Ambuja Cements Ltd - India
- Aboitiz Power Corporation - Philippines
- VISA Power Limited - India
- New Zealand Coal & Carbon
- Electricity Generating Authority of Thailand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Malabar Cements Ltd - India
- Borneo Indobara - Indonesia
- Sical Logistics Limited - India
- International Coal Ventures Pvt Ltd - India
- Indian Oil Corporation Limited
- Essar Steel Hazira Ltd - India
- Deloitte Consulting - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Port Waratah Coal Services - Australia
- India Bulls Power Limited - India
- Mjunction Services Limited - India
- Singapore Mercantile Exchange
- Bank of Tokyo Mitsubishi UFJ Ltd
- ICICI Bank Limited - India
- Maheswari Brothers Coal Limited - India
- Barasentosa Lestari - Indonesia
- Commonwealth Bank - Australia
- South Luzon Thermal Energy Corporation
- Orica Mining Services - Indonesia
- Latin American Coal - Colombia
- Videocon Industries ltd - India
- Miang Besar Coal Terminal - Indonesia
- Mercuria Energy - Indonesia
- Therma Luzon, Inc, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- Bhatia International Limited - India
- Orica Australia Pty. Ltd.
- Bulk Trading Sa - Switzerland
- Holcim Trading Pte Ltd - Singapore
- Siam City Cement - Thailand
- Bhoruka Overseas - Indonesia
- Global Green Power PLC Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Kumho Petrochemical, South Korea
- Bukit Baiduri Energy - Indonesia
- Kobexindo Tractors - Indoneisa
- Carbofer General Trading SA - India
- Kalimantan Lumbung Energi - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Salva Resources Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- GMR Energy Limited - India
- Iligan Light & Power Inc, Philippines
- IHS Mccloskey Coal Group - USA
- Petron Corporation, Philippines
- Kepco SPC Power Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Sree Jayajothi Cements Limited - India
- AsiaOL BioFuels Corp., Philippines
- White Energy Company Limited
- Kapuas Tunggal Persada - Indonesia
- CNBM International Corporation - China
- Electricity Authority, New Zealand
- Parry Sugars Refinery, India
- Merrill Lynch Commodities Europe
- Global Business Power Corporation, Philippines
- Xindia Steels Limited - India
- Edison Trading Spa - Italy
- Meralco Power Generation, Philippines
- Price Waterhouse Coopers - Russia
- Bukit Asam (Persero) Tbk - Indonesia
- Energy Development Corp, Philippines
- PTC India Limited - India
- Metalloyd Limited - United Kingdom
- Parliament of New Zealand
- Karaikal Port Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- Sinarmas Energy and Mining - Indonesia
- Gujarat Sidhee Cement - India
- Rio Tinto Coal - Australia
- Wilmar Investment Holdings
- Coalindo Energy - Indonesia
- SN Aboitiz Power Inc, Philippines
- Kaltim Prima Coal - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Standard Chartered Bank - UAE
- Independent Power Producers Association of India
- Africa Commodities Group - South Africa
- IEA Clean Coal Centre - UK
- European Bulk Services B.V. - Netherlands
- Intertek Mineral Services - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Bhushan Steel Limited - India
- Eastern Energy - Thailand
- The Treasury - Australian Government
- CIMB Investment Bank - Malaysia
- Savvy Resources Ltd - HongKong
- PNOC Exploration Corporation - Philippines
- Medco Energi Mining Internasional
- Tata Chemicals Ltd - India
- MS Steel International - UAE
- Jaiprakash Power Ventures ltd
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Central Java Power - Indonesia
- Mercator Lines Limited - India
- The University of Queensland
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Wood Mackenzie - Singapore
- Thai Mozambique Logistica
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Toyota Tsusho Corporation, Japan
- Bahari Cakrawala Sebuku - Indonesia
- Interocean Group of Companies - India
- Cement Manufacturers Association - India
- Indogreen Group - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Dalmia Cement Bharat India
- Sakthi Sugars Limited - India
- Bharathi Cement Corporation - India
- Energy Link Ltd, New Zealand
- GVK Power & Infra Limited - India
- Vedanta Resources Plc - India
- Anglo American - United Kingdom
- LBH Netherlands Bv - Netherlands
- Marubeni Corporation - India
- Ministry of Transport, Egypt
- Power Finance Corporation Ltd., India
- Chettinad Cement Corporation Ltd - India
- Uttam Galva Steels Limited - India
- Straits Asia Resources Limited - Singapore
- Jindal Steel & Power Ltd - India
- San Jose City I Power Corp, Philippines
- Eastern Coal Council - USA
- Global Coal Blending Company Limited - Australia
- Cigading International Bulk Terminal - Indonesia
- Madhucon Powers Ltd - India
- Ministry of Finance - Indonesia
- Globalindo Alam Lestari - Indonesia
- Trasteel International SA, Italy
- Ministry of Mines - Canada
- Gujarat Mineral Development Corp Ltd - India
- Coal and Oil Company - UAE
- Grasim Industreis Ltd - India
- Australian Coal Association
- Aditya Birla Group - India
- Sojitz Corporation - Japan
- Larsen & Toubro Limited - India
- SMG Consultants - Indonesia
- Tamil Nadu electricity Board
- Indo Tambangraya Megah - Indonesia
- Manunggal Multi Energi - Indonesia
- Kideco Jaya Agung - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Attock Cement Pakistan Limited
- Minerals Council of Australia
- Formosa Plastics Group - Taiwan
- Kohat Cement Company Ltd. - Pakistan
- Altura Mining Limited, Indonesia
- Bukit Makmur.PT - Indonesia
- Posco Energy - South Korea
- London Commodity Brokers - England
- Heidelberg Cement - Germany
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Petrochimia International Co. Ltd.- Taiwan
- OPG Power Generation Pvt Ltd - India
- Antam Resourcindo - Indonesia
- Kartika Selabumi Mining - Indonesia
- PowerSource Philippines DevCo
- McConnell Dowell - Australia
- Indonesian Coal Mining Association
- ASAPP Information Group - India
- Directorate General of MIneral and Coal - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Coastal Gujarat Power Limited - India
- Samtan Co., Ltd - South Korea
- Maharashtra Electricity Regulatory Commission - India
- Meenaskhi Energy Private Limited - India
- Romanian Commodities Exchange
- Makarim & Taira - Indonesia
- Riau Bara Harum - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Siam City Cement PLC, Thailand
- Goldman Sachs - Singapore
- The State Trading Corporation of India Ltd
- Bayan Resources Tbk. - Indonesia
- Bangladesh Power Developement Board
- Sarangani Energy Corporation, Philippines
- Banpu Public Company Limited - Thailand
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