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.
|
|
Thursday, 02 March 23
DRY BULK MARKET: THE WAY CHINA GOES, SO GOES THE MARKET - BIMCO
We expect demand growth within the 1.5-2.5% range in 2023, driven by China’s economic recovery. Improvements in consumer sentiment should hel ...
Thursday, 02 March 23
INDIA, CHINA DEMAND BOOST LOW-RANK THERMAL COAL PRICES IN ASIA - RUSSELL, REUTERS
Signs of stronger import demand from India have arrested the decline in price of the thermal coal grades most commonly sought by the world’s ...
Thursday, 02 March 23
INDIA CHEERS THE RETURN OF ‘KING COAL’ AS INDUSTRY SEES BUOYANT FUTURE - REUTERS
India’s coal industry celebrated the return of its major conference after a three-year pandemic hiatus by presenting a bullish view of demand ...
Wednesday, 01 March 23
GEO CONNECT ASIA RETURNS IN MARCH TO ACCELERATE THE REGION’S GEOSPATIAL AND LOCATION INTELLIGENCE CAPABILITIES
Press Release: The third edition of GCA will be held in conjunction with Digital Construction Asia and the inaugural Drones Asia – an event d ...
Wednesday, 01 March 23
THE DECLINE IN THE COAL PRICE SINCE THE BEGINNING OF THE YEAR HAS BEEN SIGNIFICANT - INTERMODAL
Last week, the front-month API2 future rose by 3.5%, but since the beginning of the year the future has fallen by 39% to $136.65/t, while the Newca ...
|
|
|
Showing 131 to 135 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Videocon Industries ltd - India
- Sakthi Sugars Limited - India
- Samtan Co., Ltd - South Korea
- Australian Coal Association
- South Luzon Thermal Energy Corporation
- The Treasury - Australian Government
- Carbofer General Trading SA - India
- CNBM International Corporation - China
- Mercuria Energy - Indonesia
- PNOC Exploration Corporation - Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Parliament of New Zealand
- Asmin Koalindo Tuhup - Indonesia
- Marubeni Corporation - India
- Indogreen Group - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- The University of Queensland
- Ministry of Transport, Egypt
- ICICI Bank Limited - India
- Ind-Barath Power Infra Limited - India
- Energy Development Corp, Philippines
- Pendopo Energi Batubara - Indonesia
- PowerSource Philippines DevCo
- Mintek Dendrill Indonesia
- SMG Consultants - Indonesia
- Minerals Council of Australia
- Vedanta Resources Plc - India
- Straits Asia Resources Limited - Singapore
- Edison Trading Spa - Italy
- Kepco SPC Power Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Cement Manufacturers Association - India
- Medco Energi Mining Internasional
- Central Java Power - Indonesia
- Manunggal Multi Energi - Indonesia
- Star Paper Mills Limited - India
- Indo Tambangraya Megah - Indonesia
- Independent Power Producers Association of India
- Chamber of Mines of South Africa
- Kalimantan Lumbung Energi - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Essar Steel Hazira Ltd - India
- Holcim Trading Pte Ltd - Singapore
- European Bulk Services B.V. - Netherlands
- Goldman Sachs - Singapore
- Makarim & Taira - Indonesia
- Salva Resources Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Heidelberg Cement - Germany
- Billiton Holdings Pty Ltd - Australia
- Deloitte Consulting - India
- Metalloyd Limited - United Kingdom
- IHS Mccloskey Coal Group - USA
- Tamil Nadu electricity Board
- Krishnapatnam Port Company Ltd. - India
- Global Coal Blending Company Limited - Australia
- Gujarat Sidhee Cement - India
- ASAPP Information Group - India
- Electricity Generating Authority of Thailand
- Posco Energy - South Korea
- Jaiprakash Power Ventures ltd
- Meralco Power Generation, Philippines
- MS Steel International - UAE
- Bharathi Cement Corporation - India
- Energy Link Ltd, New Zealand
- Parry Sugars Refinery, India
- Siam City Cement - Thailand
- New Zealand Coal & Carbon
- GVK Power & Infra Limited - India
- Altura Mining Limited, Indonesia
- International Coal Ventures Pvt Ltd - India
- Thai Mozambique Logistica
- McConnell Dowell - Australia
- Global Business Power Corporation, Philippines
- Ambuja Cements Ltd - India
- Oldendorff Carriers - Singapore
- Xindia Steels Limited - India
- Riau Bara Harum - Indonesia
- Aboitiz Power Corporation - Philippines
- TeaM Sual Corporation - Philippines
- Directorate Of Revenue Intelligence - India
- Intertek Mineral Services - Indonesia
- The State Trading Corporation of India Ltd
- Wood Mackenzie - Singapore
- TNB Fuel Sdn Bhd - Malaysia
- Kobexindo Tractors - Indoneisa
- SMC Global Power, Philippines
- Indian Oil Corporation Limited
- Siam City Cement PLC, Thailand
- LBH Netherlands Bv - Netherlands
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- GMR Energy Limited - India
- Kartika Selabumi Mining - Indonesia
- Renaissance Capital - South Africa
- Sarangani Energy Corporation, Philippines
- Merrill Lynch Commodities Europe
- Bhushan Steel Limited - India
- Sojitz Corporation - Japan
- Singapore Mercantile Exchange
- Wilmar Investment Holdings
- GAC Shipping (India) Pvt Ltd
- Maharashtra Electricity Regulatory Commission - India
- Baramulti Group, Indonesia
- Semirara Mining Corp, Philippines
- Kideco Jaya Agung - Indonesia
- Therma Luzon, Inc, Philippines
- Sinarmas Energy and Mining - Indonesia
- Maheswari Brothers Coal Limited - India
- Antam Resourcindo - Indonesia
- VISA Power Limited - India
- Central Electricity Authority - India
- Bukit Makmur.PT - Indonesia
- Australian Commodity Traders Exchange
- Agrawal Coal Company - India
- Attock Cement Pakistan Limited
- Formosa Plastics Group - Taiwan
- Kapuas Tunggal Persada - Indonesia
- Savvy Resources Ltd - HongKong
- Indian Energy Exchange, India
- Sical Logistics Limited - India
- Dalmia Cement Bharat India
- Price Waterhouse Coopers - Russia
- Sindya Power Generating Company Private Ltd
- Grasim Industreis Ltd - India
- Malabar Cements Ltd - India
- Barasentosa Lestari - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Global Green Power PLC Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Indonesian Coal Mining Association
- Jorong Barutama Greston.PT - Indonesia
- Eastern Energy - Thailand
- Orica Mining Services - Indonesia
- Rio Tinto Coal - Australia
- Kaltim Prima Coal - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Semirara Mining and Power Corporation, Philippines
- Bhoruka Overseas - Indonesia
- Vizag Seaport Private Limited - India
- Binh Thuan Hamico - Vietnam
- Eastern Coal Council - USA
- Orica Australia Pty. Ltd.
- Interocean Group of Companies - India
- Petrochimia International Co. Ltd.- Taiwan
- San Jose City I Power Corp, Philippines
- Trasteel International SA, Italy
- Economic Council, Georgia
- Georgia Ports Authority, United States
- Meenaskhi Energy Private Limited - India
- London Commodity Brokers - England
- Iligan Light & Power Inc, Philippines
- Tata Chemicals Ltd - India
- Mjunction Services Limited - India
- Petron Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Ministry of Mines - Canada
- Ministry of Finance - Indonesia
- Planning Commission, India
- Bukit Asam (Persero) Tbk - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Banpu Public Company Limited - Thailand
- Simpson Spence & Young - Indonesia
- Romanian Commodities Exchange
- Africa Commodities Group - South Africa
- Aditya Birla Group - India
- Larsen & Toubro Limited - India
- Latin American Coal - Colombia
- AsiaOL BioFuels Corp., Philippines
- Jindal Steel & Power Ltd - India
- Borneo Indobara - Indonesia
- Electricity Authority, New Zealand
- White Energy Company Limited
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Leighton Contractors Pty Ltd - Australia
- Indika Energy - Indonesia
- India Bulls Power Limited - India
- IEA Clean Coal Centre - UK
- Toyota Tsusho Corporation, Japan
- Commonwealth Bank - Australia
- Bukit Baiduri Energy - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Lanco Infratech Ltd - India
- Thiess Contractors Indonesia
- Madhucon Powers Ltd - India
- Karaikal Port Pvt Ltd - India
- Power Finance Corporation Ltd., India
- Sree Jayajothi Cements Limited - India
- Coastal Gujarat Power Limited - India
- Globalindo Alam Lestari - Indonesia
- Bulk Trading Sa - Switzerland
- Kumho Petrochemical, South Korea
- Coalindo Energy - Indonesia
- CIMB Investment Bank - Malaysia
- Mercator Lines Limited - India
- Bhatia International Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Chettinad Cement Corporation Ltd - India
- Standard Chartered Bank - UAE
- Anglo American - United Kingdom
- Uttam Galva Steels Limited - India
- Coal and Oil Company - UAE
- Ceylon Electricity Board - Sri Lanka
- Cigading International Bulk Terminal - Indonesia
- Port Waratah Coal Services - Australia
- SN Aboitiz Power Inc, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Alfred C Toepfer International GmbH - Germany
- Bangladesh Power Developement Board
- Timah Investasi Mineral - Indoneisa
- PTC India Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
|
| |
| |
|
