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, 26 June 21
KOSPO INVITED BIDS FOR 480,000 MT OF COAL PER ANNUM
COALspot.com: Korea Southern Power Co., Ltd. (KOSPO) has issued an International tender for total 480,000 MT of NCV 1 Min. 5,600 (Spec 1) /Min. 5,0 ...
Thursday, 24 June 21
FEBRUARY'S INCREASE IN COAL-FIRED ELECTRIC GENERATION REDUCED U.S. COAL STOCKPILES - EIA
Coal stockpiles at U.S. power plants decreased significantly from December 2020 to February 2021, including a draw of nearly 16 million tons in Feb ...
Wednesday, 23 June 21
MARKET INSIGHT - INTERMODAL
The first half of 2021 has brought a very sharp and continued recovery in the dry bulk market and while many where expecting a relatively strong ma ...
Thursday, 17 June 21
2020 PROVED TO BE A TRULY TERRIBLE YEAR FOR GLOBAL SEABORNE COAL TRADE; CHINA'S COAL IMPORTS - BANCHERO COSTA
2020 proved to be a truly terrible year for global seaborne coal trade.
Total global loadings in the 12 months of 2020 were down -12 ...
Thursday, 17 June 21
FITCH RATINGS RAISES SHORT-TERM OIL AND GAS PRICE ASSUMPTIONS
Fitch Ratings has increased its 2021 and 2022 oil price assumptions for the Brent and West Texas Intermediate (WTI) benchmarks due to stronger year ...
|
|
|
Showing 546 to 550 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Miang Besar Coal Terminal - Indonesia
- IEA Clean Coal Centre - UK
- GVK Power & Infra Limited - India
- Semirara Mining and Power Corporation, Philippines
- TeaM Sual Corporation - Philippines
- Mercator Lines Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Agrawal Coal Company - India
- Essar Steel Hazira Ltd - India
- Semirara Mining Corp, Philippines
- Lanco Infratech Ltd - India
- Therma Luzon, Inc, Philippines
- Aboitiz Power Corporation - Philippines
- Chamber of Mines of South Africa
- Merrill Lynch Commodities Europe
- Electricity Generating Authority of Thailand
- Timah Investasi Mineral - Indoneisa
- Bukit Asam (Persero) Tbk - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Sarangani Energy Corporation, Philippines
- Grasim Industreis Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Vizag Seaport Private Limited - India
- Interocean Group of Companies - India
- Rio Tinto Coal - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- San Jose City I Power Corp, Philippines
- PowerSource Philippines DevCo
- Minerals Council of Australia
- Bayan Resources Tbk. - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Global Business Power Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Pendopo Energi Batubara - Indonesia
- Bukit Makmur.PT - Indonesia
- Manunggal Multi Energi - Indonesia
- Orica Australia Pty. Ltd.
- LBH Netherlands Bv - Netherlands
- Central Electricity Authority - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Directorate Of Revenue Intelligence - India
- Rashtriya Ispat Nigam Limited - India
- Star Paper Mills Limited - India
- Tamil Nadu electricity Board
- Gujarat Sidhee Cement - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Attock Cement Pakistan Limited
- PetroVietnam Power Coal Import and Supply Company
- Parry Sugars Refinery, India
- Altura Mining Limited, Indonesia
- Thiess Contractors Indonesia
- Electricity Authority, New Zealand
- Parliament of New Zealand
- Siam City Cement - Thailand
- Cigading International Bulk Terminal - Indonesia
- Australian Coal Association
- Sojitz Corporation - Japan
- Leighton Contractors Pty Ltd - Australia
- Makarim & Taira - Indonesia
- International Coal Ventures Pvt Ltd - India
- Heidelberg Cement - Germany
- Samtan Co., Ltd - South Korea
- Georgia Ports Authority, United States
- Mintek Dendrill Indonesia
- Indo Tambangraya Megah - Indonesia
- Commonwealth Bank - Australia
- Eastern Coal Council - USA
- The State Trading Corporation of India Ltd
- GN Power Mariveles Coal Plant, Philippines
- Economic Council, Georgia
- Petrochimia International Co. Ltd.- Taiwan
- Bhatia International Limited - India
- PTC India Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Sical Logistics Limited - India
- Orica Mining Services - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Posco Energy - South Korea
- South Luzon Thermal Energy Corporation
- McConnell Dowell - Australia
- Kumho Petrochemical, South Korea
- Power Finance Corporation Ltd., India
- Banpu Public Company Limited - Thailand
- SN Aboitiz Power Inc, Philippines
- Ministry of Transport, Egypt
- Australian Commodity Traders Exchange
- Energy Link Ltd, New Zealand
- The University of Queensland
- SMC Global Power, Philippines
- Gujarat Electricity Regulatory Commission - India
- India Bulls Power Limited - India
- Mjunction Services Limited - India
- Baramulti Group, Indonesia
- Cement Manufacturers Association - India
- Chettinad Cement Corporation Ltd - India
- Goldman Sachs - Singapore
- IHS Mccloskey Coal Group - USA
- Renaissance Capital - South Africa
- Holcim Trading Pte Ltd - Singapore
- Meenaskhi Energy Private Limited - India
- Port Waratah Coal Services - Australia
- Malabar Cements Ltd - India
- Vedanta Resources Plc - India
- Kideco Jaya Agung - Indonesia
- Mercuria Energy - Indonesia
- White Energy Company Limited
- Bukit Baiduri Energy - Indonesia
- Africa Commodities Group - South Africa
- Riau Bara Harum - Indonesia
- Larsen & Toubro Limited - India
- Planning Commission, India
- Sree Jayajothi Cements Limited - India
- Ministry of Mines - Canada
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Jindal Steel & Power Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Xindia Steels Limited - India
- Price Waterhouse Coopers - Russia
- Uttam Galva Steels Limited - India
- Eastern Energy - Thailand
- Ind-Barath Power Infra Limited - India
- Oldendorff Carriers - Singapore
- Indika Energy - Indonesia
- Trasteel International SA, Italy
- Indogreen Group - Indonesia
- Maheswari Brothers Coal Limited - India
- Kartika Selabumi Mining - Indonesia
- Indonesian Coal Mining Association
- Wilmar Investment Holdings
- Standard Chartered Bank - UAE
- Ministry of Finance - Indonesia
- Coalindo Energy - Indonesia
- Indian Energy Exchange, India
- Antam Resourcindo - Indonesia
- Binh Thuan Hamico - Vietnam
- Carbofer General Trading SA - India
- Borneo Indobara - Indonesia
- Marubeni Corporation - India
- Coal and Oil Company - UAE
- London Commodity Brokers - England
- Videocon Industries ltd - India
- Kapuas Tunggal Persada - Indonesia
- GMR Energy Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Neyveli Lignite Corporation Ltd, - India
- Kobexindo Tractors - Indoneisa
- Global Green Power PLC Corporation, Philippines
- New Zealand Coal & Carbon
- ICICI Bank Limited - India
- Latin American Coal - Colombia
- Wood Mackenzie - Singapore
- Bhushan Steel Limited - India
- Siam City Cement PLC, Thailand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bhoruka Overseas - Indonesia
- Anglo American - United Kingdom
- Kepco SPC Power Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Madhucon Powers Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Vijayanagar Sugar Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- GAC Shipping (India) Pvt Ltd
- Offshore Bulk Terminal Pte Ltd, Singapore
- Thai Mozambique Logistica
- Aditya Birla Group - India
- Kaltim Prima Coal - Indonesia
- Deloitte Consulting - India
- ASAPP Information Group - India
- European Bulk Services B.V. - Netherlands
- Energy Development Corp, Philippines
- CNBM International Corporation - China
- VISA Power Limited - India
- Ceylon Electricity Board - Sri Lanka
- CIMB Investment Bank - Malaysia
- Asmin Koalindo Tuhup - Indonesia
- SMG Consultants - Indonesia
- Central Java Power - Indonesia
- Edison Trading Spa - Italy
- Iligan Light & Power Inc, Philippines
- Indian Oil Corporation Limited
- Barasentosa Lestari - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Petron Corporation, Philippines
- Ambuja Cements Ltd - India
- Jaiprakash Power Ventures ltd
- PNOC Exploration Corporation - Philippines
- Independent Power Producers Association of India
- Coastal Gujarat Power Limited - India
- Romanian Commodities Exchange
- Metalloyd Limited - United Kingdom
- Bharathi Cement Corporation - India
- Tata Chemicals Ltd - India
- Salva Resources Pvt Ltd - India
- Singapore Mercantile Exchange
- Toyota Tsusho Corporation, Japan
- The Treasury - Australian Government
- Sindya Power Generating Company Private Ltd
- Dalmia Cement Bharat India
- Jorong Barutama Greston.PT - Indonesia
- Medco Energi Mining Internasional
- Bangladesh Power Developement Board
- Karaikal Port Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- OPG Power Generation Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- MS Steel International - UAE
- Savvy Resources Ltd - HongKong
- Formosa Plastics Group - Taiwan
- Bulk Trading Sa - Switzerland
- Sakthi Sugars Limited - India
- Globalindo Alam Lestari - Indonesia
- Straits Asia Resources Limited - Singapore
- Meralco Power Generation, Philippines
|
| |
| |
|
