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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 $90.60 at present, already a 10- week high.
Shares of Banpu closed yesterday on the Stock Exchange of Thailand at 626 baht, up six baht, in heavy trade worth 3.49 billion baht.
Source: Bangkok Post
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Friday, 06 August 10
KRISHNAPATNAM PORT WINS NON MAJOR PORT AWARD 2ND TIME IN A ROW
COAlspot.com ( Press Release) Krishnapatnam Port, the world-class port on the Indian horizon, took the top honors for the second time in a row, in t ...
Friday, 06 August 10
POLANDS KOPEX GROUP DEVELOPS COAL MINE IN INDONESIA
Polishmarket reported that, Polish mining concern Kopex Group, , is to build the first in Indonesia mechanised underground coal mine. The group is c ...
Thursday, 05 August 10
MORATORIUM MAY HURT NEW PROJECTS: MINING GROUP
The government’s proposed two-year moratorium on issuing new concessions to convert forests and peatlands to other uses may hinder new mining ...
Thursday, 05 August 10
IRON ORE EXPORT BAN COMPOUNDS PROBLEMS OF INDUSTRY - BUSINESS STANDARD
Forex loss of Rs 300 crore (US$ 65.63 million) ; truckers, ports, Railways bear the brunt
The Karnataka government’s move to ban the export ...
Thursday, 05 August 10
DRY BULK LOOKING TO CHINA FOR A NEW RALLY, BUT INDIA COULD BE THIS YEAR'S SURPRISE
The dry bulk market’s rebound has hit a “wall” this week, with the industry’s benchmark, the BDI (Baltic Dry Index) ending i ...
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- Renaissance Capital - South Africa
- Indian Energy Exchange, India
- Ministry of Transport, Egypt
- Siam City Cement - Thailand
- Central Electricity Authority - India
- Price Waterhouse Coopers - Russia
- Eastern Energy - Thailand
- Orica Australia Pty. Ltd.
- Gujarat Mineral Development Corp Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Toyota Tsusho Corporation, Japan
- The State Trading Corporation of India Ltd
- Carbofer General Trading SA - India
- Indo Tambangraya Megah - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Sojitz Corporation - Japan
- Larsen & Toubro Limited - India
- Chettinad Cement Corporation Ltd - India
- The Treasury - Australian Government
- Kumho Petrochemical, South Korea
- Wilmar Investment Holdings
- Sarangani Energy Corporation, Philippines
- Tata Chemicals Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Ministry of Finance - Indonesia
- Altura Mining Limited, Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Borneo Indobara - Indonesia
- Aditya Birla Group - India
- Vizag Seaport Private Limited - India
- Anglo American - United Kingdom
- Sindya Power Generating Company Private Ltd
- Cement Manufacturers Association - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- CNBM International Corporation - China
- Minerals Council of Australia
- Kapuas Tunggal Persada - Indonesia
- Ministry of Mines - Canada
- Meenaskhi Energy Private Limited - India
- GMR Energy Limited - India
- Africa Commodities Group - South Africa
- McConnell Dowell - Australia
- Interocean Group of Companies - India
- Directorate Of Revenue Intelligence - India
- ICICI Bank Limited - India
- Parliament of New Zealand
- Port Waratah Coal Services - Australia
- Power Finance Corporation Ltd., India
- Karbindo Abesyapradhi - Indoneisa
- Pendopo Energi Batubara - Indonesia
- Kartika Selabumi Mining - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Sakthi Sugars Limited - India
- Cigading International Bulk Terminal - Indonesia
- PowerSource Philippines DevCo
- Trasteel International SA, Italy
- Oldendorff Carriers - Singapore
- GAC Shipping (India) Pvt Ltd
- Iligan Light & Power Inc, Philippines
- Ceylon Electricity Board - Sri Lanka
- South Luzon Thermal Energy Corporation
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- The University of Queensland
- Videocon Industries ltd - India
- AsiaOL BioFuels Corp., Philippines
- Energy Development Corp, Philippines
- Lanco Infratech Ltd - India
- Xindia Steels Limited - India
- European Bulk Services B.V. - Netherlands
- Coalindo Energy - Indonesia
- Australian Commodity Traders Exchange
- Vedanta Resources Plc - India
- Grasim Industreis Ltd - India
- Mercator Lines Limited - India
- Energy Link Ltd, New Zealand
- Kepco SPC Power Corporation, Philippines
- Standard Chartered Bank - UAE
- Latin American Coal - Colombia
- GN Power Mariveles Coal Plant, Philippines
- New Zealand Coal & Carbon
- Gujarat Sidhee Cement - India
- Star Paper Mills Limited - India
- Aboitiz Power Corporation - Philippines
- OPG Power Generation Pvt Ltd - India
- Indonesian Coal Mining Association
- Bukit Asam (Persero) Tbk - Indonesia
- Planning Commission, India
- Salva Resources Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- SMG Consultants - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Singapore Mercantile Exchange
- VISA Power Limited - India
- Semirara Mining and Power Corporation, Philippines
- Mintek Dendrill Indonesia
- Metalloyd Limited - United Kingdom
- Wood Mackenzie - Singapore
- Asmin Koalindo Tuhup - Indonesia
- Tamil Nadu electricity Board
- Merrill Lynch Commodities Europe
- Sree Jayajothi Cements Limited - India
- Uttam Galva Steels Limited - India
- Eastern Coal Council - USA
- Formosa Plastics Group - Taiwan
- Kobexindo Tractors - Indoneisa
- Jindal Steel & Power Ltd - India
- Rio Tinto Coal - Australia
- Mercuria Energy - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Electricity Generating Authority of Thailand
- Agrawal Coal Company - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Baramulti Group, Indonesia
- SMC Global Power, Philippines
- Riau Bara Harum - Indonesia
- GVK Power & Infra Limited - India
- PTC India Limited - India
- Antam Resourcindo - Indonesia
- Sical Logistics Limited - India
- SN Aboitiz Power Inc, Philippines
- Gujarat Electricity Regulatory Commission - India
- Orica Mining Services - Indonesia
- Maheswari Brothers Coal Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- ASAPP Information Group - India
- Simpson Spence & Young - Indonesia
- Global Green Power PLC Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- Therma Luzon, Inc, Philippines
- Miang Besar Coal Terminal - Indonesia
- White Energy Company Limited
- Pipit Mutiara Jaya. PT, Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sinarmas Energy and Mining - Indonesia
- Intertek Mineral Services - Indonesia
- Global Coal Blending Company Limited - Australia
- Petron Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Makarim & Taira - Indonesia
- International Coal Ventures Pvt Ltd - India
- Posco Energy - South Korea
- Jaiprakash Power Ventures ltd
- Medco Energi Mining Internasional
- Straits Asia Resources Limited - Singapore
- Attock Cement Pakistan Limited
- Indian Oil Corporation Limited
- Indika Energy - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Marubeni Corporation - India
- Bangladesh Power Developement Board
- Leighton Contractors Pty Ltd - Australia
- Savvy Resources Ltd - HongKong
- Barasentosa Lestari - Indonesia
- Australian Coal Association
- Madhucon Powers Ltd - India
- Manunggal Multi Energi - Indonesia
- Binh Thuan Hamico - Vietnam
- Deloitte Consulting - India
- Siam City Cement PLC, Thailand
- Parry Sugars Refinery, India
- Ind-Barath Power Infra Limited - India
- Malabar Cements Ltd - India
- Bayan Resources Tbk. - Indonesia
- Central Java Power - Indonesia
- CIMB Investment Bank - Malaysia
- Bukit Makmur.PT - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Independent Power Producers Association of India
- Thiess Contractors Indonesia
- Samtan Co., Ltd - South Korea
- Thai Mozambique Logistica
- Coastal Gujarat Power Limited - India
- Timah Investasi Mineral - Indoneisa
- Chamber of Mines of South Africa
- Goldman Sachs - Singapore
- Mjunction Services Limited - India
- TeaM Sual Corporation - Philippines
- Semirara Mining Corp, Philippines
- London Commodity Brokers - England
- Romanian Commodities Exchange
- Coal and Oil Company - UAE
- Ambuja Cements Ltd - India
- Commonwealth Bank - Australia
- Globalindo Alam Lestari - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Dalmia Cement Bharat India
- Maharashtra Electricity Regulatory Commission - India
- Heidelberg Cement - Germany
- Global Business Power Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Electricity Authority, New Zealand
- Indogreen Group - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- San Jose City I Power Corp, Philippines
- Bhushan Steel Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Essar Steel Hazira Ltd - India
- Kideco Jaya Agung - Indonesia
- Bukit Baiduri Energy - Indonesia
- IHS Mccloskey Coal Group - USA
- Karaikal Port Pvt Ltd - India
- Economic Council, Georgia
- Kaltim Prima Coal - Indonesia
- Meralco Power Generation, Philippines
- Georgia Ports Authority, United States
- MS Steel International - UAE
- Banpu Public Company Limited - Thailand
- IEA Clean Coal Centre - UK
- India Bulls Power Limited - India
- Bhoruka Overseas - Indonesia
- Edison Trading Spa - Italy
- PNOC Exploration Corporation - Philippines
- Bhatia International Limited - India
- Bharathi Cement Corporation - India
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