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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, 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 ...
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- South Luzon Thermal Energy Corporation
- Videocon Industries ltd - India
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- LBH Netherlands Bv - Netherlands
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- Sindya Power Generating Company Private Ltd
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- Directorate General of MIneral and Coal - Indonesia
- Larsen & Toubro Limited - India
- The Treasury - Australian Government
- Marubeni Corporation - India
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- Planning Commission, India
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- Indo Tambangraya Megah - Indonesia
- Anglo American - United Kingdom
- The State Trading Corporation of India Ltd
- Lanco Infratech Ltd - India
- Indonesian Coal Mining Association
- Coal and Oil Company - UAE
- Kepco SPC Power Corporation, Philippines
- Global Business Power Corporation, Philippines
- Georgia Ports Authority, United States
- Manunggal Multi Energi - Indonesia
- OPG Power Generation Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Chettinad Cement Corporation Ltd - India
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- India Bulls Power Limited - India
- Edison Trading Spa - Italy
- Miang Besar Coal Terminal - Indonesia
- Bhushan Steel Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Directorate Of Revenue Intelligence - India
- Sojitz Corporation - Japan
- Trasteel International SA, Italy
- Savvy Resources Ltd - HongKong
- Billiton Holdings Pty Ltd - Australia
- Kideco Jaya Agung - Indonesia
- Straits Asia Resources Limited - Singapore
- Simpson Spence & Young - Indonesia
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- Parliament of New Zealand
- Commonwealth Bank - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Mintek Dendrill Indonesia
- Australian Commodity Traders Exchange
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- Ministry of Transport, Egypt
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- European Bulk Services B.V. - Netherlands
- Altura Mining Limited, Indonesia
- Price Waterhouse Coopers - Russia
- New Zealand Coal & Carbon
- MS Steel International - UAE
- Mercator Lines Limited - India
- Globalindo Alam Lestari - Indonesia
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- Heidelberg Cement - Germany
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- Semirara Mining and Power Corporation, Philippines
- Independent Power Producers Association of India
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- Wood Mackenzie - Singapore
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- Jindal Steel & Power Ltd - India
- Merrill Lynch Commodities Europe
- Riau Bara Harum - Indonesia
- Kobexindo Tractors - Indoneisa
- McConnell Dowell - Australia
- Singapore Mercantile Exchange
- Xindia Steels Limited - India
- Ministry of Mines - Canada
- Cigading International Bulk Terminal - Indonesia
- Karbindo Abesyapradhi - Indoneisa
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- Agrawal Coal Company - India
- Gujarat Mineral Development Corp Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
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- Bulk Trading Sa - Switzerland
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- VISA Power Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Meenaskhi Energy Private Limited - India
- IHS Mccloskey Coal Group - USA
- Wilmar Investment Holdings
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- Borneo Indobara - Indonesia
- Global Coal Blending Company Limited - Australia
- Bangladesh Power Developement Board
- Attock Cement Pakistan Limited
- Ceylon Electricity Board - Sri Lanka
- IEA Clean Coal Centre - UK
- Banpu Public Company Limited - Thailand
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- Uttam Galva Steels Limited - India
- Ministry of Finance - Indonesia
- Tata Chemicals Ltd - India
- Goldman Sachs - Singapore
- Krishnapatnam Port Company Ltd. - India
- The University of Queensland
- Sinarmas Energy and Mining - Indonesia
- Electricity Generating Authority of Thailand
- International Coal Ventures Pvt Ltd - India
- Minerals Council of Australia
- Electricity Authority, New Zealand
- Semirara Mining Corp, Philippines
- Sical Logistics Limited - India
- Siam City Cement - Thailand
- Orica Mining Services - Indonesia
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- Intertek Mineral Services - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Vizag Seaport Private Limited - India
- ICICI Bank Limited - India
- PTC India Limited - India
- Timah Investasi Mineral - Indoneisa
- Kohat Cement Company Ltd. - Pakistan
- White Energy Company Limited
- Ambuja Cements Ltd - India
- Bukit Baiduri Energy - Indonesia
- Metalloyd Limited - United Kingdom
- London Commodity Brokers - England
- Karaikal Port Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Economic Council, Georgia
- Bukit Makmur.PT - Indonesia
- Aboitiz Power Corporation - Philippines
- PowerSource Philippines DevCo
- Kaltim Prima Coal - Indonesia
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- Indian Energy Exchange, India
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- Thai Mozambique Logistica
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- CNBM International Corporation - China
- Maheswari Brothers Coal Limited - India
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- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sarangani Energy Corporation, Philippines
- Chamber of Mines of South Africa
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- Alfred C Toepfer International GmbH - Germany
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- Parry Sugars Refinery, India
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- Australian Coal Association
- Energy Link Ltd, New Zealand
- Posco Energy - South Korea
- Power Finance Corporation Ltd., India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Coastal Gujarat Power Limited - India
- Renaissance Capital - South Africa
- GMR Energy Limited - India
- Standard Chartered Bank - UAE
- Baramulti Group, Indonesia
- CIMB Investment Bank - Malaysia
- Bhoruka Overseas - Indonesia
- Barasentosa Lestari - Indonesia
- Leighton Contractors Pty Ltd - Australia
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- Gujarat Electricity Regulatory Commission - India
- TNB Fuel Sdn Bhd - Malaysia
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