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.
|
|
Wednesday, 26 May 21
NEW POWER AND ENERGY MASTER PLAN MUST BE DESIGNED IN BANGLADESH'S BEST INTERESTS, NOT JAPAN'S - IEEFA
JICA must deliver a low or zero emissions plan as promised, not fund Matarbari 2 coal plant
Clear understandings from the Bangladesh ...
Tuesday, 25 May 21
KOREA SOUTHERN POWER INVITED BIDS FOR 870,000 MT OF MIN 5300 NCV COAL FOR 2021 TO 2023.
COALspot.com: Korea Southern Power Co., Ltd. (KOSPO) has issued an International tender for total 870,000 MT of Min 5,300 kcal/kg NCV coal for Augu ...
Tuesday, 25 May 21
CHINA’S COAL OUTPUT RISES IN FIRST FOUR MONTHS - XINHUA
China’s raw coal output rose 11.1 percent year on year to 1.29 billion tonnes in the first four months of 2021, official data showed.
&nb ...
Tuesday, 25 May 21
MARINE SHIPPERS BULK UP: ANOTHER GAME OF CHICKEN IN THE WORKS? - THE KOREA TIMES
Global shipping companies have been placing orders for large ships, with many anticipating further increased competition within the next three year ...
Friday, 21 May 21
MARKET INSIGHT - INTERMODAL
The dry bulk market’s counter seasonal surge so far into the first half of the year -in a sort of 2010 manner - and Capesize’s recent r ...
|
|
|
Showing 576 to 580 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Eastern Energy - Thailand
- IEA Clean Coal Centre - UK
- White Energy Company Limited
- Gujarat Sidhee Cement - India
- Mintek Dendrill Indonesia
- GAC Shipping (India) Pvt Ltd
- Indika Energy - Indonesia
- Sical Logistics Limited - India
- Billiton Holdings Pty Ltd - Australia
- Iligan Light & Power Inc, Philippines
- Wood Mackenzie - Singapore
- Mercuria Energy - Indonesia
- Ministry of Mines - Canada
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Global Business Power Corporation, Philippines
- Oldendorff Carriers - Singapore
- IHS Mccloskey Coal Group - USA
- Riau Bara Harum - Indonesia
- Aboitiz Power Corporation - Philippines
- Electricity Generating Authority of Thailand
- ASAPP Information Group - India
- Samtan Co., Ltd - South Korea
- Vijayanagar Sugar Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- Thiess Contractors Indonesia
- Meralco Power Generation, Philippines
- Bharathi Cement Corporation - India
- Madhucon Powers Ltd - India
- Merrill Lynch Commodities Europe
- MS Steel International - UAE
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Tamil Nadu electricity Board
- Formosa Plastics Group - Taiwan
- Minerals Council of Australia
- Price Waterhouse Coopers - Russia
- Indian Energy Exchange, India
- Antam Resourcindo - Indonesia
- Sakthi Sugars Limited - India
- Central Electricity Authority - India
- Georgia Ports Authority, United States
- Vizag Seaport Private Limited - India
- Australian Coal Association
- New Zealand Coal & Carbon
- Edison Trading Spa - Italy
- Therma Luzon, Inc, Philippines
- Economic Council, Georgia
- Coal and Oil Company - UAE
- SMG Consultants - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Cement Manufacturers Association - India
- Australian Commodity Traders Exchange
- Makarim & Taira - Indonesia
- Latin American Coal - Colombia
- Tata Chemicals Ltd - India
- Intertek Mineral Services - Indonesia
- Simpson Spence & Young - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Pendopo Energi Batubara - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Orica Australia Pty. Ltd.
- Chettinad Cement Corporation Ltd - India
- India Bulls Power Limited - India
- Bhushan Steel Limited - India
- Independent Power Producers Association of India
- Sree Jayajothi Cements Limited - India
- Commonwealth Bank - Australia
- TeaM Sual Corporation - Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Altura Mining Limited, Indonesia
- Indogreen Group - Indonesia
- International Coal Ventures Pvt Ltd - India
- Videocon Industries ltd - India
- Indonesian Coal Mining Association
- Standard Chartered Bank - UAE
- Sinarmas Energy and Mining - Indonesia
- McConnell Dowell - Australia
- Bulk Trading Sa - Switzerland
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Straits Asia Resources Limited - Singapore
- PetroVietnam Power Coal Import and Supply Company
- Kapuas Tunggal Persada - Indonesia
- LBH Netherlands Bv - Netherlands
- Maharashtra Electricity Regulatory Commission - India
- Jorong Barutama Greston.PT - Indonesia
- European Bulk Services B.V. - Netherlands
- CNBM International Corporation - China
- Mercator Lines Limited - India
- Borneo Indobara - Indonesia
- Binh Thuan Hamico - Vietnam
- Global Green Power PLC Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Vedanta Resources Plc - India
- Sojitz Corporation - Japan
- PNOC Exploration Corporation - Philippines
- Parliament of New Zealand
- Ceylon Electricity Board - Sri Lanka
- VISA Power Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Directorate General of MIneral and Coal - Indonesia
- PTC India Limited - India
- CIMB Investment Bank - Malaysia
- ICICI Bank Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Star Paper Mills Limited - India
- Ambuja Cements Ltd - India
- Grasim Industreis Ltd - India
- Renaissance Capital - South Africa
- South Luzon Thermal Energy Corporation
- Anglo American - United Kingdom
- Port Waratah Coal Services - Australia
- Kobexindo Tractors - Indoneisa
- GMR Energy Limited - India
- Petron Corporation, Philippines
- Coalindo Energy - Indonesia
- Banpu Public Company Limited - Thailand
- Attock Cement Pakistan Limited
- Savvy Resources Ltd - HongKong
- Romanian Commodities Exchange
- Ministry of Transport, Egypt
- Kepco SPC Power Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- The University of Queensland
- Uttam Galva Steels Limited - India
- Leighton Contractors Pty Ltd - Australia
- Sindya Power Generating Company Private Ltd
- Jindal Steel & Power Ltd - India
- Heidelberg Cement - Germany
- Eastern Coal Council - USA
- Bhatia International Limited - India
- Miang Besar Coal Terminal - Indonesia
- The State Trading Corporation of India Ltd
- Aditya Birla Group - India
- Bhoruka Overseas - Indonesia
- Parry Sugars Refinery, India
- Semirara Mining Corp, Philippines
- Agrawal Coal Company - India
- Interocean Group of Companies - India
- Kaltim Prima Coal - Indonesia
- Electricity Authority, New Zealand
- Carbofer General Trading SA - India
- Bahari Cakrawala Sebuku - Indonesia
- PowerSource Philippines DevCo
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Xindia Steels Limited - India
- Alfred C Toepfer International GmbH - Germany
- Indian Oil Corporation Limited
- San Jose City I Power Corp, Philippines
- Kideco Jaya Agung - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Barasentosa Lestari - Indonesia
- Bukit Baiduri Energy - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Global Coal Blending Company Limited - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Marubeni Corporation - India
- Timah Investasi Mineral - Indoneisa
- Posco Energy - South Korea
- Holcim Trading Pte Ltd - Singapore
- Larsen & Toubro Limited - India
- Kohat Cement Company Ltd. - Pakistan
- GN Power Mariveles Coal Plant, Philippines
- Power Finance Corporation Ltd., India
- Jaiprakash Power Ventures ltd
- Directorate Of Revenue Intelligence - India
- Maheswari Brothers Coal Limited - India
- London Commodity Brokers - England
- Baramulti Group, Indonesia
- Central Java Power - Indonesia
- Meenaskhi Energy Private Limited - India
- Thai Mozambique Logistica
- Lanco Infratech Ltd - India
- Trasteel International SA, Italy
- Metalloyd Limited - United Kingdom
- Semirara Mining and Power Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Toyota Tsusho Corporation, Japan
- The Treasury - Australian Government
- SMC Global Power, Philippines
- Siam City Cement PLC, Thailand
- Wilmar Investment Holdings
- Mjunction Services Limited - India
- Energy Link Ltd, New Zealand
- Kumho Petrochemical, South Korea
- Bukit Makmur.PT - Indonesia
- Ministry of Finance - Indonesia
- Bangladesh Power Developement Board
- Bayan Resources Tbk. - Indonesia
- Deloitte Consulting - India
- Krishnapatnam Port Company Ltd. - India
- Africa Commodities Group - South Africa
- Coastal Gujarat Power Limited - India
- Malabar Cements Ltd - India
- Singapore Mercantile Exchange
- AsiaOL BioFuels Corp., Philippines
- OPG Power Generation Pvt Ltd - India
- Goldman Sachs - Singapore
- Energy Development Corp, Philippines
- Planning Commission, India
- Ind-Barath Power Infra Limited - India
- Karaikal Port Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Dalmia Cement Bharat India
- Chamber of Mines of South Africa
- Sarangani Energy Corporation, Philippines
- GVK Power & Infra Limited - India
- Essar Steel Hazira Ltd - India
- Globalindo Alam Lestari - Indonesia
- Salva Resources Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Medco Energi Mining Internasional
- Manunggal Multi Energi - Indonesia
- Siam City Cement - Thailand
- Orica Mining Services - Indonesia
- Rio Tinto Coal - Australia
|
| |
| |
|
