We welcome article submissions from experts in the areas of coal, mining,
shipping, etc.
To Submit your article please click here.
|
|
|
Friday, 01 June 12
ADARO BUYS MAJORITY STAKE IN AFFILIATED BHAKTI ENERGI - INSIDER STORIES
 Insider Stories reported that, PT Adaro Energy Tbk entered into an option to provide a convertible loan of up to US$500 million for a period of 3 years (referred to below as Option One), to acquire a controlling interest in an affiliated coal miner PT Bhakti Energi Persada (BEP) and an option, to acquire the majority shares from the controlling shareholders of BEP (referred to below as Option Two, and, together with Option One are referred to as Options or Option Agreements).
Adaro Energy will have full control of the management, operations and all the funding of BEP from the date of the signing of the Options.
“We are delighted with the BEP Options we have signed. We feel BEP has excellent potential to help us achieve our main goal of generating substantial sustainable long-term value from Indonesian coal," said President Director Garibaldi Thohir at Adaro in a press statement yesterday filed to Indonesia Stock Exchange.
Adaro also worked for 2 years to negotiate a deal that is structured in a unique way to minimize risk to Adaro. "While we are excited with the BEP opportunity, we must also emphasize that we will use our best judgment before injecting any funds to develop the asset.”
Key success factors such as market readiness, receiving required permits from the government, land availability, social and community support, and completing engineering and geological studies must first be in place before any large capital expenditures will be deployed. “Our investors should not have the perception that once the Options are signed, we will immediately deploy capital to fund BEP. We are entering into these Options to properly assess an opportunity, while minimizing the risk to Adaro’s capital. We want to ensure both the acquisition risks and the execution risks are addressed well in advance.”
BEP, which was established in 2002, owns seven low grade thermal coal licenses in the District of Muara Wahau, East Kutai Regency, East Kalimantan. BEP also owns two transport businesses in East Kalimantan, which own the hauling road that will be used to transport BEP’s coal to the seashore. The seven concessions form one very large contiguous thermal coal deposit. SRK Consulting (Australasia) Pty Ltd (“SRK”) estimated BEP’s concessions to have JORC compliant total resources of 9.53 billion tonnes.
In 2010, Adaro Energy hired Marston, an international mining consultant firm out of St Louis Missouri, USA, to conduct a mining and development study, which verified certain technical assumptions used by SRK in their 2008 and 2009 JORC resource reports. Marston’s estimate of insitu coal tonnages was essentially the same as the SRK estimate as the difference was within acceptable limits.
Option One provides Adaro the option to lend up to US$500 million to acquire 51% equity in BEP over a period of 3 years.
Adaro can make a decision to convert the loan into equity at the end of the 3 year period. Option two also has a 3 year maturity and was signed with PT Persada Capital Investama (PCI), PT Triputra Investindo Arya (TIA), and the descendants of the late Mr. Winarto. PCI and TIA each have a 30.787% stake in BEP and combined with the 18.216% Winarto family stake, own 79.8% of the equity of BEP.
Option two provides Adaro a right to acquire shares held by the controlling shareholders of BEP (together holding 79.8% shares in BEP) in exchange for 2,381.7 million shares of Adaro Energy. Both Options are only options for Adaro and not its obligations.
In June 2011, in an unrelated transaction, Adaro Energy acquired 10.22% of BEP for US$66 million from third party minority holders.
Source: Insider Stories
If you believe an article violates your rights or the rights of others, please contact us.
|
|
Saturday, 17 July 21
COAL PRICES TRADE AT DECADE HIGH OF $140 PER TONNE, HERE ARE SOME FACTORS AT PLAY: CNBC-TV18
Coal prices are trading at $140 per tonne. In the last one week, coal has seen more than 8 percent gains; the last one month has seen 24 percent ju ...
Thursday, 15 July 21
U.S. FOSSIL FUEL CONSUMPTION FELL BY 9% IN 2020, THE LOWEST LEVEL IN NEARLY 30 YEARS - EIA
U.S. fossil fuel consumption fell by 9% in 2020, the lowest level in nearly 30 years
In 2020, total consumption of fossil fuels in t ...
Thursday, 15 July 21
IN 2020, U.S. COAL PRODUCTION FELL TO ITS LOWEST LEVEL SINCE 1965 - EIA
U.S. coal production totaled 535 million short tons (MMst) in 2020, a 24% decrease from the 706 MMst mined in 2019 and the lowest level of coal pro ...
Wednesday, 14 July 21
MARKET INSIGHT - INTERMODAL
In its latest Global Economic Prospects report, the world bank recorded the strongest post-recession global growth in 80 years, but emerging and de ...
Tuesday, 13 July 21
JAPAN STILL SEEKING TO EXPLOIT COAL POWER LOOPHOLES - IEEFA
JBIC wants to continue burdening developing nations with its expensive coal-fired power technology
Japan is continuing to push its expensive c ...
|
|
|
Showing 521 to 525 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Bukit Asam (Persero) Tbk - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indonesian Coal Mining Association
- Gujarat Mineral Development Corp Ltd - India
- Sical Logistics Limited - India
- Kaltim Prima Coal - Indonesia
- GAC Shipping (India) Pvt Ltd
- Edison Trading Spa - Italy
- Indian Oil Corporation Limited
- Trasteel International SA, Italy
- South Luzon Thermal Energy Corporation
- Coastal Gujarat Power Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Savvy Resources Ltd - HongKong
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indo Tambangraya Megah - Indonesia
- Eastern Energy - Thailand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Coal and Oil Company - UAE
- Cement Manufacturers Association - India
- Bhatia International Limited - India
- Kideco Jaya Agung - Indonesia
- Pendopo Energi Batubara - Indonesia
- Global Green Power PLC Corporation, Philippines
- Samtan Co., Ltd - South Korea
- Posco Energy - South Korea
- Globalindo Alam Lestari - Indonesia
- India Bulls Power Limited - India
- Latin American Coal - Colombia
- Eastern Coal Council - USA
- Ministry of Mines - Canada
- Simpson Spence & Young - Indonesia
- Altura Mining Limited, Indonesia
- International Coal Ventures Pvt Ltd - India
- Larsen & Toubro Limited - India
- GMR Energy Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Tamil Nadu electricity Board
- Petrochimia International Co. Ltd.- Taiwan
- Global Coal Blending Company Limited - Australia
- San Jose City I Power Corp, Philippines
- Energy Development Corp, Philippines
- Kumho Petrochemical, South Korea
- Central Java Power - Indonesia
- Aboitiz Power Corporation - Philippines
- Karaikal Port Pvt Ltd - India
- Makarim & Taira - Indonesia
- Interocean Group of Companies - India
- OPG Power Generation Pvt Ltd - India
- Australian Commodity Traders Exchange
- Heidelberg Cement - Germany
- Ind-Barath Power Infra Limited - India
- Deloitte Consulting - India
- Videocon Industries ltd - India
- Marubeni Corporation - India
- Indika Energy - Indonesia
- Therma Luzon, Inc, Philippines
- VISA Power Limited - India
- Independent Power Producers Association of India
- Bharathi Cement Corporation - India
- Asmin Koalindo Tuhup - Indonesia
- Port Waratah Coal Services - Australia
- Parry Sugars Refinery, India
- Mintek Dendrill Indonesia
- Holcim Trading Pte Ltd - Singapore
- White Energy Company Limited
- Ceylon Electricity Board - Sri Lanka
- Bukit Baiduri Energy - Indonesia
- Mercator Lines Limited - India
- Xindia Steels Limited - India
- Baramulti Group, Indonesia
- Jaiprakash Power Ventures ltd
- Anglo American - United Kingdom
- Kartika Selabumi Mining - Indonesia
- IEA Clean Coal Centre - UK
- Maheswari Brothers Coal Limited - India
- Standard Chartered Bank - UAE
- Cigading International Bulk Terminal - Indonesia
- The State Trading Corporation of India Ltd
- TeaM Sual Corporation - Philippines
- Minerals Council of Australia
- LBH Netherlands Bv - Netherlands
- Energy Link Ltd, New Zealand
- Global Business Power Corporation, Philippines
- Madhucon Powers Ltd - India
- Electricity Generating Authority of Thailand
- Sarangani Energy Corporation, Philippines
- Romanian Commodities Exchange
- Rashtriya Ispat Nigam Limited - India
- Wood Mackenzie - Singapore
- Oldendorff Carriers - Singapore
- Barasentosa Lestari - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Iligan Light & Power Inc, Philippines
- Sinarmas Energy and Mining - Indonesia
- Australian Coal Association
- CNBM International Corporation - China
- Banpu Public Company Limited - Thailand
- PowerSource Philippines DevCo
- Essar Steel Hazira Ltd - India
- Semirara Mining and Power Corporation, Philippines
- The Treasury - Australian Government
- ICICI Bank Limited - India
- Planning Commission, India
- Neyveli Lignite Corporation Ltd, - India
- Salva Resources Pvt Ltd - India
- Aditya Birla Group - India
- CIMB Investment Bank - Malaysia
- Semirara Mining Corp, Philippines
- Bulk Trading Sa - Switzerland
- ASAPP Information Group - India
- PNOC Exploration Corporation - Philippines
- Orica Mining Services - Indonesia
- Vizag Seaport Private Limited - India
- Leighton Contractors Pty Ltd - Australia
- Medco Energi Mining Internasional
- Binh Thuan Hamico - Vietnam
- Electricity Authority, New Zealand
- Georgia Ports Authority, United States
- Chamber of Mines of South Africa
- Siam City Cement PLC, Thailand
- London Commodity Brokers - England
- Jindal Steel & Power Ltd - India
- Indian Energy Exchange, India
- Goldman Sachs - Singapore
- SMG Consultants - Indonesia
- Straits Asia Resources Limited - Singapore
- Directorate Of Revenue Intelligence - India
- Bahari Cakrawala Sebuku - Indonesia
- Singapore Mercantile Exchange
- Economic Council, Georgia
- Bhoruka Overseas - Indonesia
- McConnell Dowell - Australia
- European Bulk Services B.V. - Netherlands
- Meenaskhi Energy Private Limited - India
- Timah Investasi Mineral - Indoneisa
- Sojitz Corporation - Japan
- Vedanta Resources Plc - India
- Billiton Holdings Pty Ltd - Australia
- Siam City Cement - Thailand
- Mjunction Services Limited - India
- Kapuas Tunggal Persada - Indonesia
- Uttam Galva Steels Limited - India
- Carbofer General Trading SA - India
- IHS Mccloskey Coal Group - USA
- Sree Jayajothi Cements Limited - India
- Africa Commodities Group - South Africa
- Krishnapatnam Port Company Ltd. - India
- Indogreen Group - Indonesia
- Intertek Mineral Services - Indonesia
- Ministry of Finance - Indonesia
- Orica Australia Pty. Ltd.
- Bukit Makmur.PT - Indonesia
- Manunggal Multi Energi - Indonesia
- Tata Chemicals Ltd - India
- Kepco SPC Power Corporation, Philippines
- Formosa Plastics Group - Taiwan
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Borneo Indobara - Indonesia
- Price Waterhouse Coopers - Russia
- Rio Tinto Coal - Australia
- Ministry of Transport, Egypt
- Maharashtra Electricity Regulatory Commission - India
- GVK Power & Infra Limited - India
- Central Electricity Authority - India
- Merrill Lynch Commodities Europe
- Thiess Contractors Indonesia
- SN Aboitiz Power Inc, Philippines
- Lanco Infratech Ltd - India
- Grasim Industreis Ltd - India
- Kobexindo Tractors - Indoneisa
- Gujarat Sidhee Cement - India
- Wilmar Investment Holdings
- Agrawal Coal Company - India
- Kohat Cement Company Ltd. - Pakistan
- Chettinad Cement Corporation Ltd - India
- Thai Mozambique Logistica
- Attock Cement Pakistan Limited
- Parliament of New Zealand
- Sakthi Sugars Limited - India
- Bayan Resources Tbk. - Indonesia
- Renaissance Capital - South Africa
- Bangladesh Power Developement Board
- Riau Bara Harum - Indonesia
- New Zealand Coal & Carbon
- Petron Corporation, Philippines
- Malabar Cements Ltd - India
- Toyota Tsusho Corporation, Japan
- Vijayanagar Sugar Pvt Ltd - India
- PTC India Limited - India
- Meralco Power Generation, Philippines
- Bhushan Steel Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Coalindo Energy - Indonesia
- Dalmia Cement Bharat India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- TNB Fuel Sdn Bhd - Malaysia
- Pipit Mutiara Jaya. PT, Indonesia
- SMC Global Power, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Antam Resourcindo - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Miang Besar Coal Terminal - Indonesia
- Star Paper Mills Limited - India
- Mercuria Energy - Indonesia
- MS Steel International - UAE
- Commonwealth Bank - Australia
- Power Finance Corporation Ltd., India
- Ambuja Cements Ltd - India
- The University of Queensland
- Karbindo Abesyapradhi - Indoneisa
- GN Power Mariveles Coal Plant, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Metalloyd Limited - United Kingdom
- Sindya Power Generating Company Private Ltd
- Gujarat Electricity Regulatory Commission - India
|
| |
| |
|
