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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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Thursday, 09 September 10
INDONESIA SWAPS COAL FOR INFRASTRUCTURE - FT
As Asia’s major economies bound forward and their hunger for energy surges over the next decade, Indonesia is strategically positioned to take ...
Thursday, 09 September 10
DRY BULK MARKET IS LOOKING TO INCREASE GAINS ON OCTOBER IRON ORE CONTRACTS
The “success” story that the dry bulk market has been displaying during the past couple of weeks is being materialized as we head toward ...
Tuesday, 07 September 10
INDIA IMPORTS 1.63 MLN T OF COAL FOR THE PERIOD 30 AUGUST - 5 SEPTEMBER - SOURCES
COALspot.com: India has imported 1.07 million tons of power plant coal, 0.520 mln tons of coking coal and around 41,000 mt of Anthracite coal for th ...
Tuesday, 07 September 10
GOVERNMENT DECLARED INDONESIAN COAL PRICE REFERENCE DECLINE FOR THIRD-STRAIGHT MONTH
COALspot.com: Indonesian thermal coal price reference, a monthly benchmark price declared by Ministry of Energy and mineral resources of Repub ...
Tuesday, 07 September 10
MERCATOR TO BUY COAL MINE IN INDONESIA THIS FISCAL
Mercator Lines, India’s second-largest shipping company which has diversified into coal mining, will buy a coal mine in Indonesia with more th ...
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- Bukit Makmur.PT - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
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- Uttam Galva Steels Limited - India
- Heidelberg Cement - Germany
- Asmin Koalindo Tuhup - Indonesia
- London Commodity Brokers - England
- Gujarat Electricity Regulatory Commission - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- PTC India Limited - India
- Pendopo Energi Batubara - Indonesia
- Agrawal Coal Company - India
- Indian Energy Exchange, India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sical Logistics Limited - India
- The Treasury - Australian Government
- GN Power Mariveles Coal Plant, Philippines
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- Bulk Trading Sa - Switzerland
- Latin American Coal - Colombia
- Renaissance Capital - South Africa
- Formosa Plastics Group - Taiwan
- Neyveli Lignite Corporation Ltd, - India
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- Interocean Group of Companies - India
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- Indonesian Coal Mining Association
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- Independent Power Producers Association of India
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- OPG Power Generation Pvt Ltd - India
- The State Trading Corporation of India Ltd
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- Australian Coal Association
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- Jorong Barutama Greston.PT - Indonesia
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- Goldman Sachs - Singapore
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- New Zealand Coal & Carbon
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- Economic Council, Georgia
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- Coal and Oil Company - UAE
- Ministry of Finance - Indonesia
- Planning Commission, India
- Global Coal Blending Company Limited - Australia
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- Karaikal Port Pvt Ltd - India
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- Sarangani Energy Corporation, Philippines
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- Jaiprakash Power Ventures ltd
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- Miang Besar Coal Terminal - Indonesia
- Semirara Mining and Power Corporation, Philippines
- VISA Power Limited - India
- Attock Cement Pakistan Limited
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- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Marubeni Corporation - India
- Sindya Power Generating Company Private Ltd
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- SMC Global Power, Philippines
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- Chamber of Mines of South Africa
- Ceylon Electricity Board - Sri Lanka
- Deloitte Consulting - India
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- Indogreen Group - Indonesia
- MS Steel International - UAE
- Singapore Mercantile Exchange
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- Karbindo Abesyapradhi - Indoneisa
- Petron Corporation, Philippines
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- Georgia Ports Authority, United States
- Tamil Nadu electricity Board
- Mintek Dendrill Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Leighton Contractors Pty Ltd - Australia
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- Kartika Selabumi Mining - Indonesia
- Manunggal Multi Energi - Indonesia
- Star Paper Mills Limited - India
- Orica Australia Pty. Ltd.
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- Energy Development Corp, Philippines
- Directorate General of MIneral and Coal - Indonesia
- IHS Mccloskey Coal Group - USA
- Electricity Generating Authority of Thailand
- Power Finance Corporation Ltd., India
- Vizag Seaport Private Limited - India
- SMG Consultants - Indonesia
- McConnell Dowell - Australia
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- Bangladesh Power Developement Board
- IEA Clean Coal Centre - UK
- Anglo American - United Kingdom
- Ministry of Transport, Egypt
- Billiton Holdings Pty Ltd - Australia
- Siam City Cement PLC, Thailand
- Rio Tinto Coal - Australia
- Kepco SPC Power Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- Metalloyd Limited - United Kingdom
- Indika Energy - Indonesia
- Therma Luzon, Inc, Philippines
- Intertek Mineral Services - Indonesia
- GMR Energy Limited - India
- CNBM International Corporation - China
- Simpson Spence & Young - Indonesia
- European Bulk Services B.V. - Netherlands
- Mercator Lines Limited - India
- International Coal Ventures Pvt Ltd - India
- Romanian Commodities Exchange
- Kumho Petrochemical, South Korea
- Global Green Power PLC Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Ministry of Mines - Canada
- Essar Steel Hazira Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Antam Resourcindo - Indonesia
- Cement Manufacturers Association - India
- Madhucon Powers Ltd - India
- Riau Bara Harum - Indonesia
- GVK Power & Infra Limited - India
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- Kohat Cement Company Ltd. - Pakistan
- Wilmar Investment Holdings
- Merrill Lynch Commodities Europe
- Samtan Co., Ltd - South Korea
- TeaM Sual Corporation - Philippines
- Kalimantan Lumbung Energi - Indonesia
- Eastern Energy - Thailand
- Binh Thuan Hamico - Vietnam
- Sinarmas Energy and Mining - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
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- Siam City Cement - Thailand
- Thiess Contractors Indonesia
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- Videocon Industries ltd - India
- Oldendorff Carriers - Singapore
- Standard Chartered Bank - UAE
- Eastern Coal Council - USA
- Meenaskhi Energy Private Limited - India
- Energy Link Ltd, New Zealand
- Bhoruka Overseas - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Commonwealth Bank - Australia
- TNB Fuel Sdn Bhd - Malaysia
- ASAPP Information Group - India
- Indian Oil Corporation Limited
- Banpu Public Company Limited - Thailand
- Indo Tambangraya Megah - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- PNOC Exploration Corporation - Philippines
- Larsen & Toubro Limited - India
- Savvy Resources Ltd - HongKong
- Central Electricity Authority - India
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- SN Aboitiz Power Inc, Philippines
- Port Waratah Coal Services - Australia
- Sojitz Corporation - Japan
- Africa Commodities Group - South Africa
- Trasteel International SA, Italy
- Price Waterhouse Coopers - Russia
- Vedanta Resources Plc - India
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