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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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Friday, 05 August 11
THE WORLDS LARGEST COAL MINER TO INVEST IN INDO MINES
COALspot.com - Golden Energy Mines (GEMS) might go for initial public offering (IPO) by the end of September 2011. The company is planning to off lo ...
Friday, 05 August 11
DRY BULK MARKET FINALLY TAKES A BREATHER - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market at last caught a break mid-week after a constant fall which saw the industry’s benchmark, the BDI (Baltic Dry Index) falli ...
Thursday, 04 August 11
THE HBA CONTINUES TO FALL IN AUGUST
COALspot.com - Ministry of Energy and Mineral Resources of Indonesia has set the August 2011 coal reference price at US$ 117.21 per ton slightly low ...
Wednesday, 03 August 11
DEWA RETURNS TO US$2.65 MIO NET PROFIT - INSIDER STORIES
Coal mining contractor PT Darma Henwa Tbk (DEWA), that most of its revenue is contributed by Kaltim Prima Coal and Arutmin Indonesia, returned to ne ...
Wednesday, 03 August 11
DRY BULK MARKET SINKS TO THREE-MONTH LOWS, BUT CAPESIZES COULD TURN THINGS AROUND - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market kept on falling this week, on the back of slow cargo demand amid the summer season. Yesterday, the BDI (Baltic Dry Index), the i ...
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- Coalindo Energy - Indonesia
- Malabar Cements Ltd - India
- Goldman Sachs - Singapore
- Latin American Coal - Colombia
- Sakthi Sugars Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kobexindo Tractors - Indoneisa
- The Treasury - Australian Government
- Anglo American - United Kingdom
- Therma Luzon, Inc, Philippines
- Commonwealth Bank - Australia
- Riau Bara Harum - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Tata Chemicals Ltd - India
- Jaiprakash Power Ventures ltd
- San Jose City I Power Corp, Philippines
- IHS Mccloskey Coal Group - USA
- Bukit Asam (Persero) Tbk - Indonesia
- Attock Cement Pakistan Limited
- Kapuas Tunggal Persada - Indonesia
- Jindal Steel & Power Ltd - India
- Chamber of Mines of South Africa
- Karaikal Port Pvt Ltd - India
- Vizag Seaport Private Limited - India
- Carbofer General Trading SA - India
- Kaltim Prima Coal - Indonesia
- Indonesian Coal Mining Association
- Jorong Barutama Greston.PT - Indonesia
- Coastal Gujarat Power Limited - India
- Sinarmas Energy and Mining - Indonesia
- Oldendorff Carriers - Singapore
- Lanco Infratech Ltd - India
- SMG Consultants - Indonesia
- ASAPP Information Group - India
- Semirara Mining and Power Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- Holcim Trading Pte Ltd - Singapore
- GN Power Mariveles Coal Plant, Philippines
- Kepco SPC Power Corporation, Philippines
- SMC Global Power, Philippines
- The University of Queensland
- Global Green Power PLC Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- GVK Power & Infra Limited - India
- Binh Thuan Hamico - Vietnam
- Electricity Generating Authority of Thailand
- Antam Resourcindo - Indonesia
- Bulk Trading Sa - Switzerland
- Gujarat Mineral Development Corp Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Australian Commodity Traders Exchange
- CIMB Investment Bank - Malaysia
- Bhoruka Overseas - Indonesia
- Bhatia International Limited - India
- Banpu Public Company Limited - Thailand
- Coal and Oil Company - UAE
- The State Trading Corporation of India Ltd
- Wilmar Investment Holdings
- Gujarat Sidhee Cement - India
- Borneo Indobara - Indonesia
- Chettinad Cement Corporation Ltd - India
- Grasim Industreis Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Cement Manufacturers Association - India
- Electricity Authority, New Zealand
- VISA Power Limited - India
- Formosa Plastics Group - Taiwan
- Trasteel International SA, Italy
- Indian Oil Corporation Limited
- Siam City Cement - Thailand
- Gujarat Electricity Regulatory Commission - India
- Bukit Baiduri Energy - Indonesia
- Simpson Spence & Young - Indonesia
- Savvy Resources Ltd - HongKong
- Timah Investasi Mineral - Indoneisa
- Mercuria Energy - Indonesia
- Bayan Resources Tbk. - Indonesia
- Ministry of Mines - Canada
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indian Energy Exchange, India
- Georgia Ports Authority, United States
- Indika Energy - Indonesia
- Aboitiz Power Corporation - Philippines
- Uttam Galva Steels Limited - India
- Bhushan Steel Limited - India
- GAC Shipping (India) Pvt Ltd
- Asmin Koalindo Tuhup - Indonesia
- Indo Tambangraya Megah - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Straits Asia Resources Limited - Singapore
- Videocon Industries ltd - India
- Global Coal Blending Company Limited - Australia
- Aditya Birla Group - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- PTC India Limited - India
- Romanian Commodities Exchange
- Rashtriya Ispat Nigam Limited - India
- Orica Mining Services - Indonesia
- Sical Logistics Limited - India
- Ambuja Cements Ltd - India
- Agrawal Coal Company - India
- Directorate General of MIneral and Coal - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Energy Development Corp, Philippines
- Kalimantan Lumbung Energi - Indonesia
- PowerSource Philippines DevCo
- Metalloyd Limited - United Kingdom
- Singapore Mercantile Exchange
- Economic Council, Georgia
- TNB Fuel Sdn Bhd - Malaysia
- Deloitte Consulting - India
- Dalmia Cement Bharat India
- Directorate Of Revenue Intelligence - India
- Ministry of Transport, Egypt
- Sindya Power Generating Company Private Ltd
- Bank of Tokyo Mitsubishi UFJ Ltd
- Rio Tinto Coal - Australia
- Renaissance Capital - South Africa
- Mintek Dendrill Indonesia
- Central Electricity Authority - India
- Heidelberg Cement - Germany
- PNOC Exploration Corporation - Philippines
- Intertek Mineral Services - Indonesia
- Samtan Co., Ltd - South Korea
- CNBM International Corporation - China
- Cigading International Bulk Terminal - Indonesia
- Toyota Tsusho Corporation, Japan
- Xindia Steels Limited - India
- Central Java Power - Indonesia
- Australian Coal Association
- Standard Chartered Bank - UAE
- McConnell Dowell - Australia
- OPG Power Generation Pvt Ltd - India
- Altura Mining Limited, Indonesia
- Planning Commission, India
- India Bulls Power Limited - India
- Bukit Makmur.PT - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Star Paper Mills Limited - India
- AsiaOL BioFuels Corp., Philippines
- GMR Energy Limited - India
- MS Steel International - UAE
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Thai Mozambique Logistica
- Krishnapatnam Port Company Ltd. - India
- Indogreen Group - Indonesia
- Sree Jayajothi Cements Limited - India
- Parry Sugars Refinery, India
- TeaM Sual Corporation - Philippines
- Kartika Selabumi Mining - Indonesia
- Medco Energi Mining Internasional
- European Bulk Services B.V. - Netherlands
- Madhucon Powers Ltd - India
- Global Business Power Corporation, Philippines
- Orica Australia Pty. Ltd.
- Parliament of New Zealand
- International Coal Ventures Pvt Ltd - India
- White Energy Company Limited
- Bahari Cakrawala Sebuku - Indonesia
- Ind-Barath Power Infra Limited - India
- Edison Trading Spa - Italy
- Tamil Nadu electricity Board
- Wood Mackenzie - Singapore
- Minerals Council of Australia
- Maheswari Brothers Coal Limited - India
- Barasentosa Lestari - Indonesia
- Posco Energy - South Korea
- Sojitz Corporation - Japan
- Vijayanagar Sugar Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- SN Aboitiz Power Inc, Philippines
- Merrill Lynch Commodities Europe
- South Luzon Thermal Energy Corporation
- Interocean Group of Companies - India
- Independent Power Producers Association of India
- Price Waterhouse Coopers - Russia
- Mjunction Services Limited - India
- Power Finance Corporation Ltd., India
- ICICI Bank Limited - India
- Salva Resources Pvt Ltd - India
- Marubeni Corporation - India
- Petron Corporation, Philippines
- Larsen & Toubro Limited - India
- Bangladesh Power Developement Board
- Meralco Power Generation, Philippines
- Siam City Cement PLC, Thailand
- Makarim & Taira - Indonesia
- Meenaskhi Energy Private Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- London Commodity Brokers - England
- New Zealand Coal & Carbon
- LBH Netherlands Bv - Netherlands
- Mercator Lines Limited - India
- IEA Clean Coal Centre - UK
- Vedanta Resources Plc - India
- Globalindo Alam Lestari - Indonesia
- Iligan Light & Power Inc, Philippines
- Port Waratah Coal Services - Australia
- Alfred C Toepfer International GmbH - Germany
- Leighton Contractors Pty Ltd - Australia
- Sarangani Energy Corporation, Philippines
- Africa Commodities Group - South Africa
- Eastern Energy - Thailand
- Maharashtra Electricity Regulatory Commission - India
- Ministry of Finance - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Bharathi Cement Corporation - India
- Kumho Petrochemical, South Korea
- Semirara Mining Corp, Philippines
- Eastern Coal Council - USA
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Baramulti Group, Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Essar Steel Hazira Ltd - India
- Manunggal Multi Energi - Indonesia
- Energy Link Ltd, New Zealand
- Thiess Contractors Indonesia
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