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, 02 February 22
COAL STORAGE IN CHINA’S POWER PLANTS NEAR RECORD HIGHS - XINHUA
Coal inflows into China’s power plants have picked up, bringing their coal storage to near record highs, the National Development and Reform ...
Wednesday, 02 February 22
MARKET INSIGHT - INTERMODAL
Oil prices have rallied to the highest level since October 2014 breaking above $90/bbl recently. November 2014 was the point when OPEC unleashed pr ...
Monday, 31 January 22
HOW INDONESIA'S COAL EXPORT BAN COULD IMPACT INDIA - IEEFA
What does it mean for power generation and energy security?
Not long ago, India faced coal shortages due to a decline in domestic co ...
Sunday, 30 January 22
AIR PRODUCTS' COAL GASIFICATION PROPOSAL TRIGGERS LOOMING POLICY DISPUTES IN INDONESIA - IEEFA
Plan to substitute Indonesia’s LPG imports with dimethyl ether may be hard to realize due to conflicting business interests
In ...
Sunday, 30 January 22
ENDGAME FOR NEW COAL POWER PROJECTS? - IEEFA INDIA
Retired coal units must be replaced only by assets that can provide grid flexibility
Reportedly, an expert committee appointed by th ...
|
|
|
Showing 361 to 365 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Cigading International Bulk Terminal - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Offshore Bulk Terminal Pte Ltd, Singapore
- Rio Tinto Coal - Australia
- Deloitte Consulting - India
- Kapuas Tunggal Persada - Indonesia
- Australian Coal Association
- Bharathi Cement Corporation - India
- Iligan Light & Power Inc, Philippines
- Timah Investasi Mineral - Indoneisa
- Semirara Mining Corp, Philippines
- Ceylon Electricity Board - Sri Lanka
- Makarim & Taira - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Bukit Makmur.PT - Indonesia
- Intertek Mineral Services - Indonesia
- Star Paper Mills Limited - India
- Madhucon Powers Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Interocean Group of Companies - India
- Price Waterhouse Coopers - Russia
- Sakthi Sugars Limited - India
- Parliament of New Zealand
- Bulk Trading Sa - Switzerland
- GAC Shipping (India) Pvt Ltd
- Kideco Jaya Agung - Indonesia
- Miang Besar Coal Terminal - Indonesia
- McConnell Dowell - Australia
- Chettinad Cement Corporation Ltd - India
- Sarangani Energy Corporation, Philippines
- Orica Australia Pty. Ltd.
- GVK Power & Infra Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Altura Mining Limited, Indonesia
- Indogreen Group - Indonesia
- European Bulk Services B.V. - Netherlands
- TNB Fuel Sdn Bhd - Malaysia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ministry of Finance - Indonesia
- Ministry of Mines - Canada
- Bangladesh Power Developement Board
- Coalindo Energy - Indonesia
- Therma Luzon, Inc, Philippines
- Petron Corporation, Philippines
- India Bulls Power Limited - India
- Orica Mining Services - Indonesia
- Oldendorff Carriers - Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indo Tambangraya Megah - Indonesia
- Kartika Selabumi Mining - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- PTC India Limited - India
- IEA Clean Coal Centre - UK
- Sojitz Corporation - Japan
- Directorate Of Revenue Intelligence - India
- Maheswari Brothers Coal Limited - India
- Formosa Plastics Group - Taiwan
- Larsen & Toubro Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Mercuria Energy - Indonesia
- Globalindo Alam Lestari - Indonesia
- PNOC Exploration Corporation - Philippines
- Goldman Sachs - Singapore
- Thiess Contractors Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Antam Resourcindo - Indonesia
- Marubeni Corporation - India
- Malabar Cements Ltd - India
- The University of Queensland
- Coastal Gujarat Power Limited - India
- Kaltim Prima Coal - Indonesia
- Anglo American - United Kingdom
- Manunggal Multi Energi - Indonesia
- Salva Resources Pvt Ltd - India
- Energy Development Corp, Philippines
- ASAPP Information Group - India
- Ind-Barath Power Infra Limited - India
- AsiaOL BioFuels Corp., Philippines
- Bhushan Steel Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Port Waratah Coal Services - Australia
- Indika Energy - Indonesia
- Siam City Cement - Thailand
- Commonwealth Bank - Australia
- Bhoruka Overseas - Indonesia
- ICICI Bank Limited - India
- Meenaskhi Energy Private Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Heidelberg Cement - Germany
- Energy Link Ltd, New Zealand
- Gujarat Mineral Development Corp Ltd - India
- South Luzon Thermal Energy Corporation
- MS Steel International - UAE
- Central Electricity Authority - India
- Wood Mackenzie - Singapore
- Jindal Steel & Power Ltd - India
- Straits Asia Resources Limited - Singapore
- TeaM Sual Corporation - Philippines
- Jaiprakash Power Ventures ltd
- SMC Global Power, Philippines
- Aboitiz Power Corporation - Philippines
- White Energy Company Limited
- The Treasury - Australian Government
- Thai Mozambique Logistica
- Global Business Power Corporation, Philippines
- Riau Bara Harum - Indonesia
- Global Green Power PLC Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- Chamber of Mines of South Africa
- Simpson Spence & Young - Indonesia
- VISA Power Limited - India
- Planning Commission, India
- Essar Steel Hazira Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Latin American Coal - Colombia
- Baramulti Group, Indonesia
- The State Trading Corporation of India Ltd
- CNBM International Corporation - China
- Kumho Petrochemical, South Korea
- Coal and Oil Company - UAE
- Independent Power Producers Association of India
- Gujarat Sidhee Cement - India
- Aditya Birla Group - India
- Banpu Public Company Limited - Thailand
- Merrill Lynch Commodities Europe
- Power Finance Corporation Ltd., India
- CIMB Investment Bank - Malaysia
- Carbofer General Trading SA - India
- Eastern Energy - Thailand
- Mercator Lines Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Uttam Galva Steels Limited - India
- New Zealand Coal & Carbon
- Global Coal Blending Company Limited - Australia
- Economic Council, Georgia
- Mintek Dendrill Indonesia
- Edison Trading Spa - Italy
- Minerals Council of Australia
- Kobexindo Tractors - Indoneisa
- Singapore Mercantile Exchange
- Pendopo Energi Batubara - Indonesia
- Australian Commodity Traders Exchange
- Meralco Power Generation, Philippines
- Borneo Indobara - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Dalmia Cement Bharat India
- Attock Cement Pakistan Limited
- Maharashtra Electricity Regulatory Commission - India
- Vizag Seaport Private Limited - India
- Indian Energy Exchange, India
- Toyota Tsusho Corporation, Japan
- OPG Power Generation Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- PetroVietnam Power Coal Import and Supply Company
- Rashtriya Ispat Nigam Limited - India
- SMG Consultants - Indonesia
- GMR Energy Limited - India
- San Jose City I Power Corp, Philippines
- London Commodity Brokers - England
- Georgia Ports Authority, United States
- Parry Sugars Refinery, India
- Vedanta Resources Plc - India
- Samtan Co., Ltd - South Korea
- Indian Oil Corporation Limited
- Electricity Authority, New Zealand
- Romanian Commodities Exchange
- Lanco Infratech Ltd - India
- Eastern Coal Council - USA
- Karbindo Abesyapradhi - Indoneisa
- Pipit Mutiara Jaya. PT, Indonesia
- Gujarat Electricity Regulatory Commission - India
- Renaissance Capital - South Africa
- Sindya Power Generating Company Private Ltd
- Bank of Tokyo Mitsubishi UFJ Ltd
- Central Java Power - Indonesia
- Ministry of Transport, Egypt
- Mjunction Services Limited - India
- Ambuja Cements Ltd - India
- Tata Chemicals Ltd - India
- Electricity Generating Authority of Thailand
- Savvy Resources Ltd - HongKong
- Grasim Industreis Ltd - India
- Indonesian Coal Mining Association
- Sree Jayajothi Cements Limited - India
- PowerSource Philippines DevCo
- Bhatia International Limited - India
- Siam City Cement PLC, Thailand
- Sinarmas Energy and Mining - Indonesia
- Bayan Resources Tbk. - Indonesia
- Cement Manufacturers Association - India
- Posco Energy - South Korea
- Bukit Asam (Persero) Tbk - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Barasentosa Lestari - Indonesia
- Africa Commodities Group - South Africa
- Agrawal Coal Company - India
- IHS Mccloskey Coal Group - USA
- Xindia Steels Limited - India
- SN Aboitiz Power Inc, Philippines
- Tamil Nadu electricity Board
- Sical Logistics Limited - India
- Kalimantan Lumbung Energi - Indonesia
- LBH Netherlands Bv - Netherlands
- Standard Chartered Bank - UAE
- Binh Thuan Hamico - Vietnam
- Medco Energi Mining Internasional
- Wilmar Investment Holdings
- Kepco SPC Power Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- Videocon Industries ltd - India
- Karaikal Port Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Trasteel International SA, Italy
- Holcim Trading Pte Ltd - Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
|
| |
| |
|
