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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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Tuesday, 09 August 11
DRY BULK MARKET UNABLE TO FIND UPWARD MOMENTUM, SLUMPS AGAIN - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
They same that what goes up must come down and nobody seems to have found a better application of this expression, than the beleguered dry bulk mark ...
Monday, 08 August 11
OIL PRICES ARE SOFTENING, WILL IT INFLUENCE COAL PRICES?
COALspot.com - The current global economic condition is in volatility after a little chance of optimism for economic recovery.
Oil price at ...
Monday, 08 August 11
A SUPRAMAX VESSEL WAS REPORTED FIXED AT $ 12K - VISTAAR
COALspot.com - The BDI was slightly up by about 4 points closed at 1268 points which was supported by cape index which was up 3.14 pct and closed at ...
Saturday, 06 August 11
NTPC IS CONSIDERING TO ENTER INTO 25 YEARS COAL PURCHASE AGREEMENT
Indian, State-run power producer NTPC's present annual consumption is 164 million tonnes, and company is considering long-term agreements abroad to ...
Friday, 05 August 11
RIO TINTO SIGNS MOU WITH JINDAL STEEL AND POWER ON ADVANCING HISMELT TECHNOLOGY
Press Release - Rio Tinto has signed a Memorandum of Understanding (MoU) with Jindal Steel and Power Limited (JSPL) to take the next step in g ...
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- Karbindo Abesyapradhi - Indoneisa
- Deloitte Consulting - India
- Salva Resources Pvt Ltd - India
- Renaissance Capital - South Africa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Videocon Industries ltd - India
- Manunggal Multi Energi - Indonesia
- Simpson Spence & Young - Indonesia
- Orica Australia Pty. Ltd.
- Rashtriya Ispat Nigam Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Indian Energy Exchange, India
- Jaiprakash Power Ventures ltd
- GN Power Mariveles Coal Plant, Philippines
- Barasentosa Lestari - Indonesia
- Lanco Infratech Ltd - India
- Indo Tambangraya Megah - Indonesia
- Goldman Sachs - Singapore
- Karaikal Port Pvt Ltd - India
- Grasim Industreis Ltd - India
- Port Waratah Coal Services - Australia
- Interocean Group of Companies - India
- SN Aboitiz Power Inc, Philippines
- Aditya Birla Group - India
- Essar Steel Hazira Ltd - India
- Sarangani Energy Corporation, Philippines
- Electricity Generating Authority of Thailand
- Anglo American - United Kingdom
- IHS Mccloskey Coal Group - USA
- Posco Energy - South Korea
- Iligan Light & Power Inc, Philippines
- OPG Power Generation Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Kideco Jaya Agung - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- ASAPP Information Group - India
- Vijayanagar Sugar Pvt Ltd - India
- Makarim & Taira - Indonesia
- Bangladesh Power Developement Board
- PNOC Exploration Corporation - Philippines
- Parry Sugars Refinery, India
- Rio Tinto Coal - Australia
- Gujarat Electricity Regulatory Commission - India
- TeaM Sual Corporation - Philippines
- Wood Mackenzie - Singapore
- Siam City Cement PLC, Thailand
- Riau Bara Harum - Indonesia
- Sree Jayajothi Cements Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- GMR Energy Limited - India
- Parliament of New Zealand
- TNB Fuel Sdn Bhd - Malaysia
- Bukit Asam (Persero) Tbk - Indonesia
- Bhatia International Limited - India
- Altura Mining Limited, Indonesia
- Vizag Seaport Private Limited - India
- Sakthi Sugars Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Merrill Lynch Commodities Europe
- Kohat Cement Company Ltd. - Pakistan
- Straits Asia Resources Limited - Singapore
- Economic Council, Georgia
- New Zealand Coal & Carbon
- SMG Consultants - Indonesia
- Mercator Lines Limited - India
- South Luzon Thermal Energy Corporation
- Bhushan Steel Limited - India
- Trasteel International SA, Italy
- Bukit Makmur.PT - Indonesia
- Energy Development Corp, Philippines
- Global Green Power PLC Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Coastal Gujarat Power Limited - India
- The Treasury - Australian Government
- Ind-Barath Power Infra Limited - India
- CIMB Investment Bank - Malaysia
- Ministry of Mines - Canada
- Tata Chemicals Ltd - India
- Chamber of Mines of South Africa
- Therma Luzon, Inc, Philippines
- Agrawal Coal Company - India
- Georgia Ports Authority, United States
- Formosa Plastics Group - Taiwan
- Central Java Power - Indonesia
- Electricity Authority, New Zealand
- Krishnapatnam Port Company Ltd. - India
- Coalindo Energy - Indonesia
- India Bulls Power Limited - India
- London Commodity Brokers - England
- Bulk Trading Sa - Switzerland
- Madhucon Powers Ltd - India
- Directorate Of Revenue Intelligence - India
- McConnell Dowell - Australia
- VISA Power Limited - India
- Attock Cement Pakistan Limited
- Pendopo Energi Batubara - Indonesia
- Antam Resourcindo - Indonesia
- Standard Chartered Bank - UAE
- Meenaskhi Energy Private Limited - India
- Cement Manufacturers Association - India
- Toyota Tsusho Corporation, Japan
- Intertek Mineral Services - Indonesia
- Sojitz Corporation - Japan
- Minerals Council of Australia
- San Jose City I Power Corp, Philippines
- White Energy Company Limited
- The State Trading Corporation of India Ltd
- Ministry of Finance - Indonesia
- Bharathi Cement Corporation - India
- Globalindo Alam Lestari - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Sinarmas Energy and Mining - Indonesia
- CNBM International Corporation - China
- Ministry of Transport, Egypt
- IEA Clean Coal Centre - UK
- Wilmar Investment Holdings
- Malabar Cements Ltd - India
- Energy Link Ltd, New Zealand
- Siam City Cement - Thailand
- GVK Power & Infra Limited - India
- Singapore Mercantile Exchange
- Global Coal Blending Company Limited - Australia
- GAC Shipping (India) Pvt Ltd
- Banpu Public Company Limited - Thailand
- Medco Energi Mining Internasional
- Ceylon Electricity Board - Sri Lanka
- Power Finance Corporation Ltd., India
- European Bulk Services B.V. - Netherlands
- Directorate General of MIneral and Coal - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- MS Steel International - UAE
- International Coal Ventures Pvt Ltd - India
- Baramulti Group, Indonesia
- Eastern Coal Council - USA
- Global Business Power Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- LBH Netherlands Bv - Netherlands
- Borneo Indobara - Indonesia
- Gujarat Sidhee Cement - India
- Coal and Oil Company - UAE
- The University of Queensland
- Bayan Resources Tbk. - Indonesia
- Latin American Coal - Colombia
- Australian Coal Association
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Aboitiz Power Corporation - Philippines
- Romanian Commodities Exchange
- Carbofer General Trading SA - India
- Kobexindo Tractors - Indoneisa
- Jorong Barutama Greston.PT - Indonesia
- Dalmia Cement Bharat India
- Xindia Steels Limited - India
- Kumho Petrochemical, South Korea
- Indian Oil Corporation Limited
- Samtan Co., Ltd - South Korea
- Holcim Trading Pte Ltd - Singapore
- Billiton Holdings Pty Ltd - Australia
- Kartika Selabumi Mining - Indonesia
- Mintek Dendrill Indonesia
- Chettinad Cement Corporation Ltd - India
- Africa Commodities Group - South Africa
- Jindal Steel & Power Ltd - India
- Semirara Mining Corp, Philippines
- SMC Global Power, Philippines
- Indonesian Coal Mining Association
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- PowerSource Philippines DevCo
- Marubeni Corporation - India
- Thai Mozambique Logistica
- Binh Thuan Hamico - Vietnam
- Timah Investasi Mineral - Indoneisa
- Larsen & Toubro Limited - India
- Petron Corporation, Philippines
- Uttam Galva Steels Limited - India
- Metalloyd Limited - United Kingdom
- Kepco SPC Power Corporation, Philippines
- Australian Commodity Traders Exchange
- Kapuas Tunggal Persada - Indonesia
- Sindya Power Generating Company Private Ltd
- Maheswari Brothers Coal Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Edison Trading Spa - Italy
- Bhoruka Overseas - Indonesia
- Price Waterhouse Coopers - Russia
- Maharashtra Electricity Regulatory Commission - India
- Ambuja Cements Ltd - India
- Commonwealth Bank - Australia
- Mercuria Energy - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- Indogreen Group - Indonesia
- Independent Power Producers Association of India
- Thiess Contractors Indonesia
- Heidelberg Cement - Germany
- Leighton Contractors Pty Ltd - Australia
- Vedanta Resources Plc - India
- Central Electricity Authority - India
- PTC India Limited - India
- Meralco Power Generation, Philippines
- Mjunction Services Limited - India
- ICICI Bank Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Miang Besar Coal Terminal - Indonesia
- Indika Energy - Indonesia
- Planning Commission, India
- Eastern Energy - Thailand
- Orica Mining Services - Indonesia
- Sical Logistics Limited - India
- Star Paper Mills Limited - India
- Oldendorff Carriers - Singapore
- Tamil Nadu electricity Board
- Savvy Resources Ltd - HongKong
- Alfred C Toepfer International GmbH - Germany
- Kaltim Prima Coal - Indonesia
- AsiaOL BioFuels Corp., Philippines
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