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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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Sunday, 14 August 11
SUPRAMAX CHARTER RATES SHARPLY UP - CAPT.REDDY
COALspot.com - The BDI ended positive with gains in Cape and Panamax index. The BDI was up by 1.50 pct and the cape and panamax index was up by almo ...
Saturday, 13 August 11
GMR HAS ENTERED INTO CSPA WITH GEMS TO ACQUIRE 30% STAKE
COALspot.com - GMR Infrastructure Investments (Singapore) Pte Ltd, a subsidiary of GMR Infrastructure, has signed conditional sale and purchase agre ...
Friday, 12 August 11
COAL MINERS WILL ALLOW TO CONSTRUCT MINE MOUTH POWER PLANT
COALspot.com - The government is set to draft a regulation to enable construction of steam-fired power plants (PLTU) by coal mining companies for th ...
Friday, 12 August 11
CAPESIZE DEMAND HELPS LIFTING OF DRY BULK MARKET - HELLENIC SHIPPING NEWS
The dry bulk market has recovered a small fraction of its lost ground this week, with higher returns as a result of increased capesize demand. This ...
Thursday, 11 August 11
INDO TAMBANGRAYA 1H NET PROFIT SOARS 53.09%
Coal miner PT Indo Tambangraya Megah Tbk (ITMG) today reported a 53.09% jump in net profit for the first 6 months of this year on the back of higher ...
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- Parry Sugars Refinery, India
- Indian Energy Exchange, India
- Meralco Power Generation, Philippines
- Kaltim Prima Coal - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Romanian Commodities Exchange
- Sojitz Corporation - Japan
- Kepco SPC Power Corporation, Philippines
- Savvy Resources Ltd - HongKong
- Mjunction Services Limited - India
- Ministry of Finance - Indonesia
- Indogreen Group - Indonesia
- Electricity Authority, New Zealand
- Interocean Group of Companies - India
- Borneo Indobara - Indonesia
- Central Java Power - Indonesia
- Bhoruka Overseas - Indonesia
- Kumho Petrochemical, South Korea
- Chamber of Mines of South Africa
- Karaikal Port Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Meenaskhi Energy Private Limited - India
- GAC Shipping (India) Pvt Ltd
- Cigading International Bulk Terminal - Indonesia
- Uttam Galva Steels Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Holcim Trading Pte Ltd - Singapore
- Global Coal Blending Company Limited - Australia
- Carbofer General Trading SA - India
- Central Electricity Authority - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Vedanta Resources Plc - India
- Sinarmas Energy and Mining - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Indonesian Coal Mining Association
- Bulk Trading Sa - Switzerland
- Mercator Lines Limited - India
- Global Green Power PLC Corporation, Philippines
- IEA Clean Coal Centre - UK
- Alfred C Toepfer International GmbH - Germany
- Petrochimia International Co. Ltd.- Taiwan
- Trasteel International SA, Italy
- Latin American Coal - Colombia
- South Luzon Thermal Energy Corporation
- Rashtriya Ispat Nigam Limited - India
- SN Aboitiz Power Inc, Philippines
- Maheswari Brothers Coal Limited - India
- Bayan Resources Tbk. - Indonesia
- Sindya Power Generating Company Private Ltd
- Intertek Mineral Services - Indonesia
- Globalindo Alam Lestari - Indonesia
- London Commodity Brokers - England
- Siam City Cement PLC, Thailand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Posco Energy - South Korea
- Chettinad Cement Corporation Ltd - India
- Kideco Jaya Agung - Indonesia
- Dalmia Cement Bharat India
- Standard Chartered Bank - UAE
- Orica Australia Pty. Ltd.
- Georgia Ports Authority, United States
- Jaiprakash Power Ventures ltd
- Coastal Gujarat Power Limited - India
- Kobexindo Tractors - Indoneisa
- TeaM Sual Corporation - Philippines
- Deloitte Consulting - India
- Riau Bara Harum - Indonesia
- Pendopo Energi Batubara - Indonesia
- PTC India Limited - India
- Merrill Lynch Commodities Europe
- Metalloyd Limited - United Kingdom
- Malabar Cements Ltd - India
- Marubeni Corporation - India
- Ceylon Electricity Board - Sri Lanka
- Rio Tinto Coal - Australia
- Medco Energi Mining Internasional
- Orica Mining Services - Indonesia
- Bangladesh Power Developement Board
- Heidelberg Cement - Germany
- Samtan Co., Ltd - South Korea
- Indian Oil Corporation Limited
- Miang Besar Coal Terminal - Indonesia
- The University of Queensland
- Bhushan Steel Limited - India
- Wilmar Investment Holdings
- Energy Link Ltd, New Zealand
- Videocon Industries ltd - India
- Thai Mozambique Logistica
- Power Finance Corporation Ltd., India
- GN Power Mariveles Coal Plant, Philippines
- Barasentosa Lestari - Indonesia
- OPG Power Generation Pvt Ltd - India
- Planning Commission, India
- Sical Logistics Limited - India
- Renaissance Capital - South Africa
- Anglo American - United Kingdom
- Bukit Makmur.PT - Indonesia
- Toyota Tsusho Corporation, Japan
- Kalimantan Lumbung Energi - Indonesia
- Attock Cement Pakistan Limited
- Price Waterhouse Coopers - Russia
- Singapore Mercantile Exchange
- Tamil Nadu electricity Board
- Sree Jayajothi Cements Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- European Bulk Services B.V. - Netherlands
- Star Paper Mills Limited - India
- Indika Energy - Indonesia
- Agrawal Coal Company - India
- Vijayanagar Sugar Pvt Ltd - India
- Ambuja Cements Ltd - India
- Ind-Barath Power Infra Limited - India
- SMC Global Power, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- International Coal Ventures Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Bukit Baiduri Energy - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Australian Coal Association
- Minerals Council of Australia
- Commonwealth Bank - Australia
- SMG Consultants - Indonesia
- Antam Resourcindo - Indonesia
- Kartika Selabumi Mining - Indonesia
- Cement Manufacturers Association - India
- White Energy Company Limited
- Salva Resources Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Oldendorff Carriers - Singapore
- Wood Mackenzie - Singapore
- IHS Mccloskey Coal Group - USA
- Coalindo Energy - Indonesia
- VISA Power Limited - India
- Straits Asia Resources Limited - Singapore
- Independent Power Producers Association of India
- Coal and Oil Company - UAE
- Banpu Public Company Limited - Thailand
- PNOC Exploration Corporation - Philippines
- Therma Luzon, Inc, Philippines
- Neyveli Lignite Corporation Ltd, - India
- San Jose City I Power Corp, Philippines
- GVK Power & Infra Limited - India
- GMR Energy Limited - India
- Aditya Birla Group - India
- Economic Council, Georgia
- Australian Commodity Traders Exchange
- Timah Investasi Mineral - Indoneisa
- Maharashtra Electricity Regulatory Commission - India
- Petron Corporation, Philippines
- New Zealand Coal & Carbon
- Port Waratah Coal Services - Australia
- Gujarat Electricity Regulatory Commission - India
- Grasim Industreis Ltd - India
- Semirara Mining Corp, Philippines
- Parliament of New Zealand
- AsiaOL BioFuels Corp., Philippines
- Africa Commodities Group - South Africa
- Energy Development Corp, Philippines
- McConnell Dowell - Australia
- Sakthi Sugars Limited - India
- Larsen & Toubro Limited - India
- Global Business Power Corporation, Philippines
- Ministry of Mines - Canada
- Madhucon Powers Ltd - India
- Siam City Cement - Thailand
- Essar Steel Hazira Ltd - India
- CIMB Investment Bank - Malaysia
- Directorate Of Revenue Intelligence - India
- The State Trading Corporation of India Ltd
- India Bulls Power Limited - India
- CNBM International Corporation - China
- Edison Trading Spa - Italy
- Mercuria Energy - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Eastern Coal Council - USA
- Jindal Steel & Power Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Thiess Contractors Indonesia
- PowerSource Philippines DevCo
- ASAPP Information Group - India
- Xindia Steels Limited - India
- Makarim & Taira - Indonesia
- Electricity Generating Authority of Thailand
- Eastern Energy - Thailand
- The Treasury - Australian Government
- Binh Thuan Hamico - Vietnam
- Mintek Dendrill Indonesia
- Iligan Light & Power Inc, Philippines
- Billiton Holdings Pty Ltd - Australia
- Kohat Cement Company Ltd. - Pakistan
- LBH Netherlands Bv - Netherlands
- Offshore Bulk Terminal Pte Ltd, Singapore
- Formosa Plastics Group - Taiwan
- Goldman Sachs - Singapore
- Tata Chemicals Ltd - India
- Gujarat Sidhee Cement - India
- Baramulti Group, Indonesia
- Lanco Infratech Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Indo Tambangraya Megah - Indonesia
- Aboitiz Power Corporation - Philippines
- ICICI Bank Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Vizag Seaport Private Limited - India
- Krishnapatnam Port Company Ltd. - India
- Ministry of Transport, Egypt
- Directorate General of MIneral and Coal - Indonesia
- Bharathi Cement Corporation - India
- MS Steel International - UAE
- Jorong Barutama Greston.PT - Indonesia
- Simpson Spence & Young - Indonesia
- Bhatia International Limited - India
- Altura Mining Limited, Indonesia
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