We welcome article submissions from experts in the areas of coal, mining,
shipping, etc.
To Submit your article please click here.
|
|
|
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
If you believe an article violates your rights or the rights of others, please contact us.
|
|
Thursday, 02 September 10
PLN ASKED TO USE LOCAL COAL
Tempo Interactive reportd that, the Indonesian Mining Association Executive Director, Priyo Pribadi, has called on the state-run electricity company ...
Thursday, 02 September 10
NALCO OPEN TO EQUITY DILUTION IN $3.9 BN PROJECT IN INDONESIA
Business-Standard reported that, state-owned Nalco today said it is considering selling stake in its $3.9 billion (over Rs 18,000 crore) aluminium p ...
Thursday, 02 September 10
DRY BULK MARKET GAINS MOMENTUM TO INCREASE, WITH CHINA ONCE AGAIN TO THE RESCUE
With predictions from Chinese officials stating that the country’s iron ore imports during 2010 could surpass the record amounts of 2009, the ...
Wednesday, 01 September 10
STC BAGS NTPC ORDER TO SHIP 12 MT COAL
My Digital FC reported that, The State Trading Corporation (STC) has bagged NTPC’s tender to ship 12 million tonnes coal from Ind&sh ...
Wednesday, 01 September 10
JAKARTA TO HOST MAJOR INTERNATIONAL MINING EVENT
COALspot.com: (Press Release) In October 2010, the Indonesian Mining Association (IMA) and the Indonesian Coal Mining Association (APBI) will host t ...
|
|
|
Showing 5631 to 5635 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Leighton Contractors Pty Ltd - Australia
- Power Finance Corporation Ltd., India
- ASAPP Information Group - India
- The State Trading Corporation of India Ltd
- Bhatia International Limited - India
- Deloitte Consulting - India
- Independent Power Producers Association of India
- Central Electricity Authority - India
- SMC Global Power, Philippines
- Intertek Mineral Services - Indonesia
- Bulk Trading Sa - Switzerland
- Renaissance Capital - South Africa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Essar Steel Hazira Ltd - India
- Medco Energi Mining Internasional
- MS Steel International - UAE
- Sakthi Sugars Limited - India
- ICICI Bank Limited - India
- Bharathi Cement Corporation - India
- Straits Asia Resources Limited - Singapore
- Aboitiz Power Corporation - Philippines
- Orica Australia Pty. Ltd.
- Planning Commission, India
- Anglo American - United Kingdom
- Electricity Authority, New Zealand
- Cement Manufacturers Association - India
- Formosa Plastics Group - Taiwan
- Sree Jayajothi Cements Limited - India
- Samtan Co., Ltd - South Korea
- Karbindo Abesyapradhi - Indoneisa
- Siam City Cement PLC, Thailand
- Directorate Of Revenue Intelligence - India
- Indogreen Group - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Minerals Council of Australia
- Electricity Generating Authority of Thailand
- Goldman Sachs - Singapore
- Kepco SPC Power Corporation, Philippines
- Sical Logistics Limited - India
- Rashtriya Ispat Nigam Limited - India
- Thiess Contractors Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Aditya Birla Group - India
- Semirara Mining Corp, Philippines
- GN Power Mariveles Coal Plant, Philippines
- South Luzon Thermal Energy Corporation
- Bukit Baiduri Energy - Indonesia
- IHS Mccloskey Coal Group - USA
- New Zealand Coal & Carbon
- Ministry of Transport, Egypt
- Romanian Commodities Exchange
- Larsen & Toubro Limited - India
- Posco Energy - South Korea
- Salva Resources Pvt Ltd - India
- CNBM International Corporation - China
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Port Waratah Coal Services - Australia
- Mercuria Energy - Indonesia
- PTC India Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Wood Mackenzie - Singapore
- Kapuas Tunggal Persada - Indonesia
- Global Coal Blending Company Limited - Australia
- Sojitz Corporation - Japan
- Coalindo Energy - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Manunggal Multi Energi - Indonesia
- Makarim & Taira - Indonesia
- Altura Mining Limited, Indonesia
- Kobexindo Tractors - Indoneisa
- LBH Netherlands Bv - Netherlands
- Energy Development Corp, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Standard Chartered Bank - UAE
- Holcim Trading Pte Ltd - Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Kartika Selabumi Mining - Indonesia
- Heidelberg Cement - Germany
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Maheswari Brothers Coal Limited - India
- Grasim Industreis Ltd - India
- Baramulti Group, Indonesia
- Ministry of Mines - Canada
- CIMB Investment Bank - Malaysia
- Rio Tinto Coal - Australia
- Kalimantan Lumbung Energi - Indonesia
- The Treasury - Australian Government
- Binh Thuan Hamico - Vietnam
- Uttam Galva Steels Limited - India
- Semirara Mining and Power Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Therma Luzon, Inc, Philippines
- Iligan Light & Power Inc, Philippines
- Barasentosa Lestari - Indonesia
- Pendopo Energi Batubara - Indonesia
- Simpson Spence & Young - Indonesia
- Antam Resourcindo - Indonesia
- Parliament of New Zealand
- Sarangani Energy Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Siam City Cement - Thailand
- Malabar Cements Ltd - India
- Riau Bara Harum - Indonesia
- White Energy Company Limited
- Metalloyd Limited - United Kingdom
- Mintek Dendrill Indonesia
- GVK Power & Infra Limited - India
- Xindia Steels Limited - India
- SN Aboitiz Power Inc, Philippines
- IEA Clean Coal Centre - UK
- Australian Coal Association
- Borneo Indobara - Indonesia
- Tamil Nadu electricity Board
- Petron Corporation, Philippines
- Dalmia Cement Bharat India
- Jorong Barutama Greston.PT - Indonesia
- European Bulk Services B.V. - Netherlands
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Videocon Industries ltd - India
- Eastern Coal Council - USA
- McConnell Dowell - Australia
- Carbofer General Trading SA - India
- Jaiprakash Power Ventures ltd
- Latin American Coal - Colombia
- Commonwealth Bank - Australia
- Trasteel International SA, Italy
- Kohat Cement Company Ltd. - Pakistan
- Vijayanagar Sugar Pvt Ltd - India
- India Bulls Power Limited - India
- PNOC Exploration Corporation - Philippines
- Madhucon Powers Ltd - India
- Indika Energy - Indonesia
- Global Business Power Corporation, Philippines
- Meralco Power Generation, Philippines
- OPG Power Generation Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- San Jose City I Power Corp, Philippines
- Tata Chemicals Ltd - India
- Gujarat Sidhee Cement - India
- Krishnapatnam Port Company Ltd. - India
- Lanco Infratech Ltd - India
- Price Waterhouse Coopers - Russia
- Interocean Group of Companies - India
- Edison Trading Spa - Italy
- Coastal Gujarat Power Limited - India
- Oldendorff Carriers - Singapore
- Ind-Barath Power Infra Limited - India
- Wilmar Investment Holdings
- GAC Shipping (India) Pvt Ltd
- Africa Commodities Group - South Africa
- GMR Energy Limited - India
- PowerSource Philippines DevCo
- Ministry of Finance - Indonesia
- Australian Commodity Traders Exchange
- Thai Mozambique Logistica
- Chettinad Cement Corporation Ltd - India
- Sindya Power Generating Company Private Ltd
- Savvy Resources Ltd - HongKong
- Jindal Steel & Power Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Mjunction Services Limited - India
- Energy Link Ltd, New Zealand
- SMG Consultants - Indonesia
- Kumho Petrochemical, South Korea
- Merrill Lynch Commodities Europe
- Singapore Mercantile Exchange
- Attock Cement Pakistan Limited
- The University of Queensland
- Global Green Power PLC Corporation, Philippines
- Indian Energy Exchange, India
- Banpu Public Company Limited - Thailand
- Sinarmas Energy and Mining - Indonesia
- Agrawal Coal Company - India
- Meenaskhi Energy Private Limited - India
- Bhoruka Overseas - Indonesia
- Bukit Makmur.PT - Indonesia
- Karaikal Port Pvt Ltd - India
- Marubeni Corporation - India
- Star Paper Mills Limited - India
- Georgia Ports Authority, United States
- Eastern Energy - Thailand
- Chamber of Mines of South Africa
- AsiaOL BioFuels Corp., Philippines
- Globalindo Alam Lestari - Indonesia
- Kideco Jaya Agung - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Indian Oil Corporation Limited
- Central Java Power - Indonesia
- Orica Mining Services - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Bangladesh Power Developement Board
- Mercator Lines Limited - India
- Bayan Resources Tbk. - Indonesia
- Kaltim Prima Coal - Indonesia
- Toyota Tsusho Corporation, Japan
- VISA Power Limited - India
- Indonesian Coal Mining Association
- Coal and Oil Company - UAE
- Maharashtra Electricity Regulatory Commission - India
- Vizag Seaport Private Limited - India
- Economic Council, Georgia
- Alfred C Toepfer International GmbH - Germany
- Ambuja Cements Ltd - India
- TeaM Sual Corporation - Philippines
- Parry Sugars Refinery, India
- Vedanta Resources Plc - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- London Commodity Brokers - England
- Timah Investasi Mineral - Indoneisa
- Bhushan Steel Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- International Coal Ventures Pvt Ltd - India
|
| |
| |
|
