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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, 10 August 11
KILLARA RESOURCES TO ACQUIRE SIX COAL CONCESSIONS OF TASON HOLDINGS
COALspot.com - Killara Resources Limited, an Australian listed company has formed PT Tavesco Killara Energy (TKE), a joint company with PT Tavesco I ...
Wednesday, 10 August 11
RESOURCE NATIONALISM IS MAIN BUSINESS RISK FOR MINING SECTORS, E&Y SURVEY
Resource nationalism is top of the business risk list for mining and metals companies around the world, while supply capacity constraint issues cont ...
Wednesday, 10 August 11
INDONESIAN COAL MINING ASSOCIATION OPPOSES LOW-GRADE COAL EXPORT BAN
COALspot.com - The Indonesian Coal Mining Association (ICMA) frowns on and challenges the government plan to ban the low-grade coal export inf ...
Wednesday, 10 August 11
ABM INVESTAMA TO OFFLOAD 20% IPO
Integrated coal mining PT ABM Investama, affiliated company of Tiara Marga Trakindo Group, aims to dispose 20% stake during an initial public offeri ...
Tuesday, 09 August 11
INDONESIAS COAL PRODUCTION GREW BY 19.4% LAST YEAR - BP
COALspot.com - Indonesia’s coal production grew by 19.4% last year to 305.879 million tonnes from 256.181 million tonnes in 2009, the fastest ...
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- South Luzon Thermal Energy Corporation
- Medco Energi Mining Internasional
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- Heidelberg Cement - Germany
- PTC India Limited - India
- Bayan Resources Tbk. - Indonesia
- Ind-Barath Power Infra Limited - India
- Barasentosa Lestari - Indonesia
- Singapore Mercantile Exchange
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- McConnell Dowell - Australia
- Energy Development Corp, Philippines
- Romanian Commodities Exchange
- Malabar Cements Ltd - India
- Coal and Oil Company - UAE
- Bhushan Steel Limited - India
- Karaikal Port Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Riau Bara Harum - Indonesia
- Aboitiz Power Corporation - Philippines
- Larsen & Toubro Limited - India
- Ministry of Mines - Canada
- Interocean Group of Companies - India
- Xindia Steels Limited - India
- Trasteel International SA, Italy
- Billiton Holdings Pty Ltd - Australia
- Marubeni Corporation - India
- Sinarmas Energy and Mining - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Economic Council, Georgia
- Ambuja Cements Ltd - India
- India Bulls Power Limited - India
- Jaiprakash Power Ventures ltd
- Directorate Of Revenue Intelligence - India
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- Wood Mackenzie - Singapore
- Sakthi Sugars Limited - India
- The Treasury - Australian Government
- ASAPP Information Group - India
- Electricity Authority, New Zealand
- Central Java Power - Indonesia
- Standard Chartered Bank - UAE
- Leighton Contractors Pty Ltd - Australia
- Sarangani Energy Corporation, Philippines
- Orica Australia Pty. Ltd.
- Ministry of Transport, Egypt
- Bukit Asam (Persero) Tbk - Indonesia
- Mercator Lines Limited - India
- Toyota Tsusho Corporation, Japan
- Rashtriya Ispat Nigam Limited - India
- Sindya Power Generating Company Private Ltd
- The University of Queensland
- Intertek Mineral Services - Indonesia
- Mercuria Energy - Indonesia
- PowerSource Philippines DevCo
- Bhoruka Overseas - Indonesia
- Cigading International Bulk Terminal - Indonesia
- VISA Power Limited - India
- ICICI Bank Limited - India
- Jindal Steel & Power Ltd - India
- Sical Logistics Limited - India
- Indian Energy Exchange, India
- Bukit Makmur.PT - Indonesia
- OPG Power Generation Pvt Ltd - India
- Lanco Infratech Ltd - India
- Wilmar Investment Holdings
- Krishnapatnam Port Company Ltd. - India
- Bharathi Cement Corporation - India
- SMC Global Power, Philippines
- IHS Mccloskey Coal Group - USA
- Samtan Co., Ltd - South Korea
- TeaM Sual Corporation - Philippines
- Power Finance Corporation Ltd., India
- Chettinad Cement Corporation Ltd - India
- GAC Shipping (India) Pvt Ltd
- Deloitte Consulting - India
- Banpu Public Company Limited - Thailand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indonesian Coal Mining Association
- Altura Mining Limited, Indonesia
- Port Waratah Coal Services - Australia
- Semirara Mining Corp, Philippines
- CIMB Investment Bank - Malaysia
- International Coal Ventures Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Global Business Power Corporation, Philippines
- Parliament of New Zealand
- Gujarat Sidhee Cement - India
- Timah Investasi Mineral - Indoneisa
- Global Green Power PLC Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- Sree Jayajothi Cements Limited - India
- Parry Sugars Refinery, India
- Bhatia International Limited - India
- Borneo Indobara - Indonesia
- Agrawal Coal Company - India
- Semirara Mining and Power Corporation, Philippines
- IEA Clean Coal Centre - UK
- Latin American Coal - Colombia
- Australian Coal Association
- SMG Consultants - Indonesia
- Minerals Council of Australia
- PNOC Exploration Corporation - Philippines
- Tata Chemicals Ltd - India
- Mintek Dendrill Indonesia
- LBH Netherlands Bv - Netherlands
- Neyveli Lignite Corporation Ltd, - India
- San Jose City I Power Corp, Philippines
- Orica Mining Services - Indonesia
- Thiess Contractors Indonesia
- Vedanta Resources Plc - India
- SN Aboitiz Power Inc, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Anglo American - United Kingdom
- Salva Resources Pvt Ltd - India
- London Commodity Brokers - England
- Asmin Koalindo Tuhup - Indonesia
- Kobexindo Tractors - Indoneisa
- Videocon Industries ltd - India
- Chamber of Mines of South Africa
- Madhucon Powers Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Siam City Cement - Thailand
- Indian Oil Corporation Limited
- Therma Luzon, Inc, Philippines
- Kumho Petrochemical, South Korea
- Makarim & Taira - Indonesia
- Bulk Trading Sa - Switzerland
- Manunggal Multi Energi - Indonesia
- Planning Commission, India
- Kapuas Tunggal Persada - Indonesia
- AsiaOL BioFuels Corp., Philippines
- GMR Energy Limited - India
- Miang Besar Coal Terminal - Indonesia
- Savvy Resources Ltd - HongKong
- Cement Manufacturers Association - India
- Edison Trading Spa - Italy
- Formosa Plastics Group - Taiwan
- Price Waterhouse Coopers - Russia
- Bahari Cakrawala Sebuku - Indonesia
- Kartika Selabumi Mining - Indonesia
- White Energy Company Limited
- Indogreen Group - Indonesia
- Essar Steel Hazira Ltd - India
- GVK Power & Infra Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Kaltim Prima Coal - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Georgia Ports Authority, United States
- Rio Tinto Coal - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Vijayanagar Sugar Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Merrill Lynch Commodities Europe
- The State Trading Corporation of India Ltd
- Baramulti Group, Indonesia
- Sojitz Corporation - Japan
- Attock Cement Pakistan Limited
- Metalloyd Limited - United Kingdom
- CNBM International Corporation - China
- Straits Asia Resources Limited - Singapore
- Africa Commodities Group - South Africa
- Meralco Power Generation, Philippines
- Aditya Birla Group - India
- MS Steel International - UAE
- Grasim Industreis Ltd - India
- Thai Mozambique Logistica
- Bangladesh Power Developement Board
- Petrochimia International Co. Ltd.- Taiwan
- Indo Tambangraya Megah - Indonesia
- Electricity Generating Authority of Thailand
- European Bulk Services B.V. - Netherlands
- Energy Link Ltd, New Zealand
- Pendopo Energi Batubara - Indonesia
- Oldendorff Carriers - Singapore
- Coalindo Energy - Indonesia
- Ministry of Finance - Indonesia
- Independent Power Producers Association of India
- Alfred C Toepfer International GmbH - Germany
- Vizag Seaport Private Limited - India
- Dalmia Cement Bharat India
- Kohat Cement Company Ltd. - Pakistan
- Indika Energy - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Commonwealth Bank - Australia
- Tamil Nadu electricity Board
- Carbofer General Trading SA - India
- Meenaskhi Energy Private Limited - India
- Star Paper Mills Limited - India
- Globalindo Alam Lestari - Indonesia
- Goldman Sachs - Singapore
- Ceylon Electricity Board - Sri Lanka
- Binh Thuan Hamico - Vietnam
- Simpson Spence & Young - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Petron Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Eastern Energy - Thailand
- Central Electricity Authority - India
- Mjunction Services Limited - India
- Kideco Jaya Agung - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Antam Resourcindo - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Renaissance Capital - South Africa
- Eastern Coal Council - USA
- Posco Energy - South Korea
- Australian Commodity Traders Exchange
- Offshore Bulk Terminal Pte Ltd, Singapore
- Siam City Cement PLC, Thailand
- Iligan Light & Power Inc, Philippines
- Holcim Trading Pte Ltd - Singapore
- New Zealand Coal & Carbon
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