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Friday, 03 September 10
BANPU CUTS INDONESIAN HOLDING BUT ITM REMAINS KEY STRATEGIC UNIT - BANGKOK POST
 "SET-listed Banpu Plc, Asean's largest coal miner, yesterday announced the sale of an 8.72% stake in its listed coalmining holding company in Indonesia, the company's largest coal operations, for US$395 million (12.3 billion baht)", Bangkok Post reported.
Bangkok post further said that, Under the terms of the transaction, Banpu Minerals (Singapore) Pte (BMS) sold 98.5 million shares in its PT Indo Tambangraya Megah (ITM) subsidiary for 36,150 rupiah apiece.
The divestment was made via a market placement to Indonesian and foreign institutional investors and is expected to close next Tuesday, Banpu said in a filing with the Stock Exchange of Thailand.
After the transaction, Banpu will remain the largest shareholder with 65% ownership of ITM, which owns five mines in Indonesia with an overall maximum annual capacity of 28.5 million tonnes. However, this year's planned output is only 23 million tonnes.
The main goal of the divestment is to strengthen Banpu's consolidated balance sheet, and the company's business stance in Indonesia will not change, said Somruedee Chaimongkol, the chief financial officer.
"The transaction will generate about $395 million in proceeds for BMS, helping to reinforce Banpu's balance sheet and establish a strong platform for the implementation of our five-year strategic plan," said Ms Somruedee.
Banpu has earmarked $189 million for investment in Indonesian mines from 2010-15.
"The reduction of our shareholding in ITM is minimal. This will not cause any change in our commitment to ITM or our proactive search for growth opportunities in Indonesia," said Ms Somruedee. "Our Indonesian coal business is still very much at the heart of Banpu's business strategy."
Listed on the Indonesian stock exchange, ITM is a profitable company with net cash, generating a net profit of about 6-7 billion baht a year for Banpu.
ITM's total output is set to rise by 17% to about 27 million tonnes next year with two new mines to become operational later this year and early next, said Kitichan Sirisukarcha, an analyst at Kim Eng Securities.
This will lift Banpu's capacity to cash in on rising coal prices, he said.
Kiatnakin Securities said tight supply and strong demand in Asia, especially from China, is projected to drive coal prices to $92-95 a tonne later this month from $90.60 at present, already a 10- week high.
Shares of Banpu closed yesterday on the Stock Exchange of Thailand at 626 baht, up six baht, in heavy trade worth 3.49 billion baht.
Source: Bangkok Post
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Wednesday, 22 September 10
DRY BULK MARKET SENTIMENT TURNS SOUTH AS IRON ORE DEMAND DECLINES
The dry bulk market has once again turned the tide, with the industry’s benchmark, the Baltic Dry Index (BDI) turning south during the previou ...
Monday, 20 September 10
MMTC SEEKS TO BUY 1.3 MT OF COAL FOR INDIA UTILITIES - SXCOAL
MMTC Ltd., India’s largest state- owned trading company, is seeking bids for the supply of 1.3 million tonnes of coal to feed power plants run ...
Monday, 20 September 10
KANGAROO RESOURCES SIGNS PARTNERSHIP WITH ASEAMCO FOR INDONESIAN COAL ASSETS - PROACTIVE INVESTORS
International coal producer Kangaroo Resources (ASX: KRL) has completed a new three-year agreement with Australian mining consultants ASEAMCO to del ...
Monday, 20 September 10
ICVL LOOKS FOR COAL ASSETS IN UZBEK, INDONESIA, AUSTRALIA - ECONOMIC TIMES
Economic Times reported that, International Coal Ventures, or ICVL, the special purpose vehicle floated by five state-owned firms to scout for coal ...
Monday, 20 September 10
IRON-ORE SHIPPING DEMAND MAY GAIN ONCE CHINA STEEL CUTS FINISH, SSY SAYS
Demand to transport iron ore may rebound once China ends steel-production cuts and steel prices may gain in the next several months because of the r ...
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- Globalindo Alam Lestari - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Port Waratah Coal Services - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Attock Cement Pakistan Limited
- TeaM Sual Corporation - Philippines
- Thiess Contractors Indonesia
- Cigading International Bulk Terminal - Indonesia
- Sojitz Corporation - Japan
- Independent Power Producers Association of India
- Salva Resources Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Agrawal Coal Company - India
- Siam City Cement PLC, Thailand
- Maheswari Brothers Coal Limited - India
- MS Steel International - UAE
- Star Paper Mills Limited - India
- Indika Energy - Indonesia
- Indian Energy Exchange, India
- Sree Jayajothi Cements Limited - India
- Ministry of Finance - Indonesia
- Price Waterhouse Coopers - Russia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- ASAPP Information Group - India
- Global Business Power Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Africa Commodities Group - South Africa
- Heidelberg Cement - Germany
- Binh Thuan Hamico - Vietnam
- London Commodity Brokers - England
- Chamber of Mines of South Africa
- Wood Mackenzie - Singapore
- Miang Besar Coal Terminal - Indonesia
- Riau Bara Harum - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sakthi Sugars Limited - India
- India Bulls Power Limited - India
- Tata Chemicals Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Malabar Cements Ltd - India
- Xindia Steels Limited - India
- IHS Mccloskey Coal Group - USA
- Electricity Generating Authority of Thailand
- Wilmar Investment Holdings
- IEA Clean Coal Centre - UK
- Dalmia Cement Bharat India
- Billiton Holdings Pty Ltd - Australia
- Metalloyd Limited - United Kingdom
- Karaikal Port Pvt Ltd - India
- Georgia Ports Authority, United States
- Power Finance Corporation Ltd., India
- The Treasury - Australian Government
- SMC Global Power, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Parry Sugars Refinery, India
- Standard Chartered Bank - UAE
- Savvy Resources Ltd - HongKong
- Global Coal Blending Company Limited - Australia
- Medco Energi Mining Internasional
- Thai Mozambique Logistica
- Bharathi Cement Corporation - India
- OPG Power Generation Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- Aboitiz Power Corporation - Philippines
- Timah Investasi Mineral - Indoneisa
- Altura Mining Limited, Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Bhoruka Overseas - Indonesia
- Kideco Jaya Agung - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Indonesian Coal Mining Association
- Essar Steel Hazira Ltd - India
- Bukit Makmur.PT - Indonesia
- Anglo American - United Kingdom
- Directorate Of Revenue Intelligence - India
- Meenaskhi Energy Private Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Renaissance Capital - South Africa
- Interocean Group of Companies - India
- Cement Manufacturers Association - India
- Meralco Power Generation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Pendopo Energi Batubara - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Antam Resourcindo - Indonesia
- PTC India Limited - India
- Trasteel International SA, Italy
- New Zealand Coal & Carbon
- Deloitte Consulting - India
- Therma Luzon, Inc, Philippines
- Aditya Birla Group - India
- LBH Netherlands Bv - Netherlands
- Economic Council, Georgia
- Rashtriya Ispat Nigam Limited - India
- ICICI Bank Limited - India
- Jindal Steel & Power Ltd - India
- Central Java Power - Indonesia
- Rio Tinto Coal - Australia
- Oldendorff Carriers - Singapore
- GMR Energy Limited - India
- Latin American Coal - Colombia
- Kepco SPC Power Corporation, Philippines
- Indian Oil Corporation Limited
- Formosa Plastics Group - Taiwan
- Posco Energy - South Korea
- Ministry of Mines - Canada
- Banpu Public Company Limited - Thailand
- Madhucon Powers Ltd - India
- Siam City Cement - Thailand
- VISA Power Limited - India
- The University of Queensland
- Semirara Mining and Power Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Holcim Trading Pte Ltd - Singapore
- Merrill Lynch Commodities Europe
- Mintek Dendrill Indonesia
- The State Trading Corporation of India Ltd
- CNBM International Corporation - China
- Bhatia International Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Mjunction Services Limited - India
- European Bulk Services B.V. - Netherlands
- Electricity Authority, New Zealand
- Edison Trading Spa - Italy
- PNOC Exploration Corporation - Philippines
- White Energy Company Limited
- Maharashtra Electricity Regulatory Commission - India
- Straits Asia Resources Limited - Singapore
- GN Power Mariveles Coal Plant, Philippines
- Mercuria Energy - Indonesia
- Videocon Industries ltd - India
- Borneo Indobara - Indonesia
- Intertek Mineral Services - Indonesia
- Makarim & Taira - Indonesia
- Energy Link Ltd, New Zealand
- Australian Commodity Traders Exchange
- Bank of Tokyo Mitsubishi UFJ Ltd
- Singapore Mercantile Exchange
- Manunggal Multi Energi - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ceylon Electricity Board - Sri Lanka
- SN Aboitiz Power Inc, Philippines
- Eastern Energy - Thailand
- AsiaOL BioFuels Corp., Philippines
- Parliament of New Zealand
- Tamil Nadu electricity Board
- Coal and Oil Company - UAE
- Planning Commission, India
- Bhushan Steel Limited - India
- Energy Development Corp, Philippines
- Marubeni Corporation - India
- PowerSource Philippines DevCo
- Toyota Tsusho Corporation, Japan
- Semirara Mining Corp, Philippines
- Goldman Sachs - Singapore
- Kaltim Prima Coal - Indonesia
- Orica Australia Pty. Ltd.
- CIMB Investment Bank - Malaysia
- Bangladesh Power Developement Board
- Romanian Commodities Exchange
- Kumho Petrochemical, South Korea
- Chettinad Cement Corporation Ltd - India
- GVK Power & Infra Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Commonwealth Bank - Australia
- McConnell Dowell - Australia
- Larsen & Toubro Limited - India
- Kobexindo Tractors - Indoneisa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Grasim Industreis Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Australian Coal Association
- International Coal Ventures Pvt Ltd - India
- Central Electricity Authority - India
- Bayan Resources Tbk. - Indonesia
- Global Green Power PLC Corporation, Philippines
- San Jose City I Power Corp, Philippines
- Minerals Council of Australia
- Mercator Lines Limited - India
- Lanco Infratech Ltd - India
- Baramulti Group, Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- South Luzon Thermal Energy Corporation
- Kartika Selabumi Mining - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Jaiprakash Power Ventures ltd
- Vijayanagar Sugar Pvt Ltd - India
- Vedanta Resources Plc - India
- Barasentosa Lestari - Indonesia
- Coastal Gujarat Power Limited - India
- Ministry of Transport, Egypt
- GAC Shipping (India) Pvt Ltd
- Samtan Co., Ltd - South Korea
- Carbofer General Trading SA - India
- Sindya Power Generating Company Private Ltd
- Ind-Barath Power Infra Limited - India
- Sical Logistics Limited - India
- Petron Corporation, Philippines
- Vizag Seaport Private Limited - India
- Iligan Light & Power Inc, Philippines
- Simpson Spence & Young - Indonesia
- Gujarat Sidhee Cement - India
- Sarangani Energy Corporation, Philippines
- Orica Mining Services - Indonesia
- Uttam Galva Steels Limited - India
- Coalindo Energy - Indonesia
- Indogreen Group - Indonesia
- Bulk Trading Sa - Switzerland
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- SMG Consultants - Indonesia
- Eastern Coal Council - USA
- Alfred C Toepfer International GmbH - Germany
- Bukit Baiduri Energy - Indonesia
- Ambuja Cements Ltd - India
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