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.
|
|
Friday, 05 January 24
BANGLADESH’S 2023 COAL-FIRED POWER OUTPUT TRIPLED, EASING SHORTAGES - REUTERS
Bangladesh nearly tripled its coal-fired power output in 2023, a Reuters analysis of government data showed, helping it tide over the worst power s ...
Tuesday, 02 January 24
COAL TRADE CONTINUES TO HEAD EAST - BALTIC EXCHANGE
The global coal trade, once concentrated in the Pacific and Atlantic basins, is undergoing a significant transformation, as highlighted in the Inte ...
Tuesday, 02 January 24
COAL CARGOES: AVOIDING EXPLOSION AND SELF-HEATING - GARD
KNOWLEDGE TO ELEVATE
Despite its contribution to greenhouse gas emissions, global coal consumption climbed to an all-time high in 2022 and is ...
Tuesday, 02 January 24
SINOPEC FORECASTS CHINA’S COAL CONSUMPTION TO PEAK AROUND 2025 - REUTERS
China Petrochemical Corp, or Sinopec, expects coal consumption to peak around 2025 at 4.37 billion metric tons, the state energy group said in an o ...
Thursday, 07 December 23
CHINA TO SET UP COAL PRODUCTION RESERVE TO STABILISE PRICES - REUTERS
China will establish a back-up coal production system by 2027 to stabilise prices and secure coal supply, the state planner said on Wednesday, even ...
|
|
|
Showing 61 to 65 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Simpson Spence & Young - Indonesia
- Thiess Contractors Indonesia
- Kartika Selabumi Mining - Indonesia
- Eastern Coal Council - USA
- GMR Energy Limited - India
- Indika Energy - Indonesia
- Xindia Steels Limited - India
- Chamber of Mines of South Africa
- Star Paper Mills Limited - India
- India Bulls Power Limited - India
- Aboitiz Power Corporation - Philippines
- SN Aboitiz Power Inc, Philippines
- McConnell Dowell - Australia
- Kohat Cement Company Ltd. - Pakistan
- IEA Clean Coal Centre - UK
- Central Java Power - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Mercuria Energy - Indonesia
- Edison Trading Spa - Italy
- Dalmia Cement Bharat India
- AsiaOL BioFuels Corp., Philippines
- Romanian Commodities Exchange
- Banpu Public Company Limited - Thailand
- Global Green Power PLC Corporation, Philippines
- Mintek Dendrill Indonesia
- Anglo American - United Kingdom
- Pendopo Energi Batubara - Indonesia
- Samtan Co., Ltd - South Korea
- Siam City Cement - Thailand
- Indian Energy Exchange, India
- Indogreen Group - Indonesia
- Altura Mining Limited, Indonesia
- Miang Besar Coal Terminal - Indonesia
- VISA Power Limited - India
- The Treasury - Australian Government
- Makarim & Taira - Indonesia
- Mercator Lines Limited - India
- Economic Council, Georgia
- Alfred C Toepfer International GmbH - Germany
- CNBM International Corporation - China
- Coal and Oil Company - UAE
- Salva Resources Pvt Ltd - India
- New Zealand Coal & Carbon
- Malabar Cements Ltd - India
- Barasentosa Lestari - Indonesia
- Kepco SPC Power Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Siam City Cement PLC, Thailand
- Electricity Generating Authority of Thailand
- Medco Energi Mining Internasional
- Aditya Birla Group - India
- Kapuas Tunggal Persada - Indonesia
- Therma Luzon, Inc, Philippines
- Binh Thuan Hamico - Vietnam
- Renaissance Capital - South Africa
- Semirara Mining and Power Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Attock Cement Pakistan Limited
- Planning Commission, India
- Mjunction Services Limited - India
- Sakthi Sugars Limited - India
- GVK Power & Infra Limited - India
- Bharathi Cement Corporation - India
- Riau Bara Harum - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Central Electricity Authority - India
- Bukit Asam (Persero) Tbk - Indonesia
- Global Business Power Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- Oldendorff Carriers - Singapore
- Madhucon Powers Ltd - India
- Tamil Nadu electricity Board
- Petrochimia International Co. Ltd.- Taiwan
- Leighton Contractors Pty Ltd - Australia
- Parry Sugars Refinery, India
- OPG Power Generation Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- Kobexindo Tractors - Indoneisa
- Directorate Of Revenue Intelligence - India
- Eastern Energy - Thailand
- Kumho Petrochemical, South Korea
- LBH Netherlands Bv - Netherlands
- Rashtriya Ispat Nigam Limited - India
- Gujarat Sidhee Cement - India
- Georgia Ports Authority, United States
- Ministry of Mines - Canada
- Bulk Trading Sa - Switzerland
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Trasteel International SA, Italy
- Ambuja Cements Ltd - India
- Meralco Power Generation, Philippines
- Cement Manufacturers Association - India
- ASAPP Information Group - India
- Kalimantan Lumbung Energi - Indonesia
- Posco Energy - South Korea
- Sical Logistics Limited - India
- Marubeni Corporation - India
- Lanco Infratech Ltd - India
- Agrawal Coal Company - India
- The State Trading Corporation of India Ltd
- Tata Chemicals Ltd - India
- Bukit Baiduri Energy - Indonesia
- Energy Development Corp, Philippines
- Kideco Jaya Agung - Indonesia
- The University of Queensland
- Timah Investasi Mineral - Indoneisa
- CIMB Investment Bank - Malaysia
- IHS Mccloskey Coal Group - USA
- Goldman Sachs - Singapore
- Karbindo Abesyapradhi - Indoneisa
- Manunggal Multi Energi - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- SMG Consultants - Indonesia
- Indian Oil Corporation Limited
- Kaltim Prima Coal - Indonesia
- Metalloyd Limited - United Kingdom
- TNB Fuel Sdn Bhd - Malaysia
- Iligan Light & Power Inc, Philippines
- Electricity Authority, New Zealand
- San Jose City I Power Corp, Philippines
- Holcim Trading Pte Ltd - Singapore
- Wilmar Investment Holdings
- Deloitte Consulting - India
- Coastal Gujarat Power Limited - India
- Larsen & Toubro Limited - India
- Toyota Tsusho Corporation, Japan
- Commonwealth Bank - Australia
- Jindal Steel & Power Ltd - India
- GAC Shipping (India) Pvt Ltd
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Meenaskhi Energy Private Limited - India
- Ceylon Electricity Board - Sri Lanka
- Heidelberg Cement - Germany
- SMC Global Power, Philippines
- Antam Resourcindo - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- ICICI Bank Limited - India
- MS Steel International - UAE
- PNOC Exploration Corporation - Philippines
- Intertek Mineral Services - Indonesia
- Singapore Mercantile Exchange
- Semirara Mining Corp, Philippines
- PowerSource Philippines DevCo
- Carbofer General Trading SA - India
- Energy Link Ltd, New Zealand
- Africa Commodities Group - South Africa
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bangladesh Power Developement Board
- Sojitz Corporation - Japan
- Bhatia International Limited - India
- Videocon Industries ltd - India
- Wood Mackenzie - Singapore
- Essar Steel Hazira Ltd - India
- Straits Asia Resources Limited - Singapore
- Coalindo Energy - Indonesia
- Ind-Barath Power Infra Limited - India
- Vizag Seaport Private Limited - India
- London Commodity Brokers - England
- Ministry of Finance - Indonesia
- Uttam Galva Steels Limited - India
- Sindya Power Generating Company Private Ltd
- Borneo Indobara - Indonesia
- Latin American Coal - Colombia
- Interocean Group of Companies - India
- Price Waterhouse Coopers - Russia
- Australian Coal Association
- Independent Power Producers Association of India
- Vedanta Resources Plc - India
- Maharashtra Electricity Regulatory Commission - India
- Savvy Resources Ltd - HongKong
- Neyveli Lignite Corporation Ltd, - India
- Bahari Cakrawala Sebuku - Indonesia
- Sarangani Energy Corporation, Philippines
- Parliament of New Zealand
- Gujarat Mineral Development Corp Ltd - India
- Bayan Resources Tbk. - Indonesia
- Standard Chartered Bank - UAE
- Rio Tinto Coal - Australia
- Bukit Makmur.PT - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- White Energy Company Limited
- Ministry of Transport, Egypt
- TeaM Sual Corporation - Philippines
- Thai Mozambique Logistica
- Orica Australia Pty. Ltd.
- Indonesian Coal Mining Association
- Power Finance Corporation Ltd., India
- Petron Corporation, Philippines
- Minerals Council of Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Baramulti Group, Indonesia
- Orica Mining Services - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Grasim Industreis Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Maheswari Brothers Coal Limited - India
- Sinarmas Energy and Mining - Indonesia
- Merrill Lynch Commodities Europe
- Karaikal Port Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- Jaiprakash Power Ventures ltd
- Asmin Koalindo Tuhup - Indonesia
- European Bulk Services B.V. - Netherlands
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- PTC India Limited - India
- Port Waratah Coal Services - Australia
- Sree Jayajothi Cements Limited - India
- Global Coal Blending Company Limited - Australia
- Bhushan Steel Limited - India
- Chettinad Cement Corporation Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Australian Commodity Traders Exchange
- Indo Tambangraya Megah - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Vijayanagar Sugar Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- International Coal Ventures Pvt Ltd - India
|
| |
| |
|
