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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 $90.60 at present, already a 10- week high.
Shares of Banpu closed yesterday on the Stock Exchange of Thailand at 626 baht, up six baht, in heavy trade worth 3.49 billion baht.
Source: Bangkok Post
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Tuesday, 27 July 10
DRY BULK SPOT CARGO DEMAND SHARPLY UP, TRIGGERING RISE IN RATES
Hot on the heels of the dry bulk market’s first weekly gain in almost two months, Monday began on a similar note, with the Baltic Dry Index (B ...
Tuesday, 27 July 10
KANGAROO RESOURCES INKS 297MT COAL RESOURCE FOR TANUR JAYA PROJECT
Kangaroo Resources has reported JORC Code compliant open cut Coal Resources totalling 297 million tonnes for the Tanur Jaya Coal Project in East Kal ...
Monday, 26 July 10
INDONESIAN COAL PRICE REFERENCE FOR JULY 2010 IS US$ 96.65 PER TON FOB VESSEL
COALspot.com: The Directorate General of Mineral, Coal and Geothermal of Indonesia has been publishing a monthly coal price reference (HBA) since Fe ...
Monday, 26 July 10
BHATIA INTERNATIONAL, MIGHT GRAB THE MAJORITY OF COAL SUPPLY ORDER FROM MAHAGENCO
COALspot.com: Maharashtra State Power Generation Co., a provider of electricity to India’s commercial hub Mumbai, has received price bids from ...
Monday, 26 July 10
CEMENT MAKERS EXPLORE NEW FUELS TO REPLACE COAL - ECONOMIC TIMES
Economic Times reported that, As the cement industry reels under high raw material costs and reduced coal linkages, companies are exploring alternat ...
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- TNB Fuel Sdn Bhd - Malaysia
- Economic Council, Georgia
- VISA Power Limited - India
- Uttam Galva Steels Limited - India
- Thiess Contractors Indonesia
- ICICI Bank Limited - India
- IHS Mccloskey Coal Group - USA
- The Treasury - Australian Government
- Pipit Mutiara Jaya. PT, Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Holcim Trading Pte Ltd - Singapore
- Planning Commission, India
- European Bulk Services B.V. - Netherlands
- Sojitz Corporation - Japan
- Mjunction Services Limited - India
- Orica Australia Pty. Ltd.
- Tamil Nadu electricity Board
- Siam City Cement - Thailand
- Deloitte Consulting - India
- Independent Power Producers Association of India
- Maharashtra Electricity Regulatory Commission - India
- AsiaOL BioFuels Corp., Philippines
- PowerSource Philippines DevCo
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Commonwealth Bank - Australia
- Coastal Gujarat Power Limited - India
- Bhushan Steel Limited - India
- PNOC Exploration Corporation - Philippines
- Pendopo Energi Batubara - Indonesia
- Power Finance Corporation Ltd., India
- Asmin Koalindo Tuhup - Indonesia
- Thai Mozambique Logistica
- Offshore Bulk Terminal Pte Ltd, Singapore
- White Energy Company Limited
- Jorong Barutama Greston.PT - Indonesia
- Videocon Industries ltd - India
- SMG Consultants - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Meenaskhi Energy Private Limited - India
- GVK Power & Infra Limited - India
- London Commodity Brokers - England
- Petrochimia International Co. Ltd.- Taiwan
- Bukit Baiduri Energy - Indonesia
- Jaiprakash Power Ventures ltd
- Indian Energy Exchange, India
- Kepco SPC Power Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Salva Resources Pvt Ltd - India
- Ministry of Transport, Egypt
- Indogreen Group - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Malabar Cements Ltd - India
- Bulk Trading Sa - Switzerland
- South Luzon Thermal Energy Corporation
- Merrill Lynch Commodities Europe
- Ministry of Mines - Canada
- Barasentosa Lestari - Indonesia
- LBH Netherlands Bv - Netherlands
- Bhatia International Limited - India
- Eastern Coal Council - USA
- GAC Shipping (India) Pvt Ltd
- Bukit Asam (Persero) Tbk - Indonesia
- CNBM International Corporation - China
- Orica Mining Services - Indonesia
- Kobexindo Tractors - Indoneisa
- Jindal Steel & Power Ltd - India
- International Coal Ventures Pvt Ltd - India
- Attock Cement Pakistan Limited
- Billiton Holdings Pty Ltd - Australia
- Global Business Power Corporation, Philippines
- Goldman Sachs - Singapore
- Ceylon Electricity Board - Sri Lanka
- Star Paper Mills Limited - India
- The University of Queensland
- Essar Steel Hazira Ltd - India
- Australian Coal Association
- Eastern Energy - Thailand
- Therma Luzon, Inc, Philippines
- Karaikal Port Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- Dalmia Cement Bharat India
- Kalimantan Lumbung Energi - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Indika Energy - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Formosa Plastics Group - Taiwan
- Krishnapatnam Port Company Ltd. - India
- Indonesian Coal Mining Association
- Global Coal Blending Company Limited - Australia
- Kohat Cement Company Ltd. - Pakistan
- Bhoruka Overseas - Indonesia
- Electricity Authority, New Zealand
- Altura Mining Limited, Indonesia
- Kapuas Tunggal Persada - Indonesia
- Lanco Infratech Ltd - India
- Timah Investasi Mineral - Indoneisa
- Banpu Public Company Limited - Thailand
- Georgia Ports Authority, United States
- Sinarmas Energy and Mining - Indonesia
- Marubeni Corporation - India
- GMR Energy Limited - India
- San Jose City I Power Corp, Philippines
- Samtan Co., Ltd - South Korea
- Karbindo Abesyapradhi - Indoneisa
- Central Java Power - Indonesia
- Indian Oil Corporation Limited
- Vizag Seaport Private Limited - India
- Grasim Industreis Ltd - India
- Bangladesh Power Developement Board
- Kumho Petrochemical, South Korea
- Bank of Tokyo Mitsubishi UFJ Ltd
- Heidelberg Cement - Germany
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Baramulti Group, Indonesia
- Antam Resourcindo - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Indo Tambangraya Megah - Indonesia
- Kideco Jaya Agung - Indonesia
- Toyota Tsusho Corporation, Japan
- Medco Energi Mining Internasional
- The State Trading Corporation of India Ltd
- Gujarat Sidhee Cement - India
- CIMB Investment Bank - Malaysia
- Carbofer General Trading SA - India
- Savvy Resources Ltd - HongKong
- India Bulls Power Limited - India
- Mintek Dendrill Indonesia
- SN Aboitiz Power Inc, Philippines
- Semirara Mining Corp, Philippines
- Sree Jayajothi Cements Limited - India
- TeaM Sual Corporation - Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Africa Commodities Group - South Africa
- MS Steel International - UAE
- Gujarat Mineral Development Corp Ltd - India
- Sindya Power Generating Company Private Ltd
- Parliament of New Zealand
- Sarangani Energy Corporation, Philippines
- PTC India Limited - India
- Globalindo Alam Lestari - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Central Electricity Authority - India
- Tata Chemicals Ltd - India
- Electricity Generating Authority of Thailand
- Coalindo Energy - Indonesia
- Maheswari Brothers Coal Limited - India
- Romanian Commodities Exchange
- SMC Global Power, Philippines
- Port Waratah Coal Services - Australia
- Vedanta Resources Plc - India
- Intertek Mineral Services - Indonesia
- Siam City Cement PLC, Thailand
- PetroVietnam Power Coal Import and Supply Company
- Posco Energy - South Korea
- Larsen & Toubro Limited - India
- Aditya Birla Group - India
- Price Waterhouse Coopers - Russia
- Vijayanagar Sugar Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- Energy Development Corp, Philippines
- Rio Tinto Coal - Australia
- New Zealand Coal & Carbon
- Cement Manufacturers Association - India
- Straits Asia Resources Limited - Singapore
- Bukit Makmur.PT - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Wilmar Investment Holdings
- Mercuria Energy - Indonesia
- Binh Thuan Hamico - Vietnam
- Manunggal Multi Energi - Indonesia
- Oldendorff Carriers - Singapore
- Anglo American - United Kingdom
- Madhucon Powers Ltd - India
- Parry Sugars Refinery, India
- Edison Trading Spa - Italy
- Makarim & Taira - Indonesia
- Singapore Mercantile Exchange
- Global Green Power PLC Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- Petron Corporation, Philippines
- Trasteel International SA, Italy
- Xindia Steels Limited - India
- Ambuja Cements Ltd - India
- Sical Logistics Limited - India
- Metalloyd Limited - United Kingdom
- Sakthi Sugars Limited - India
- Miang Besar Coal Terminal - Indonesia
- Iligan Light & Power Inc, Philippines
- Minerals Council of Australia
- Borneo Indobara - Indonesia
- IEA Clean Coal Centre - UK
- Kaltim Prima Coal - Indonesia
- Mercator Lines Limited - India
- Australian Commodity Traders Exchange
- Directorate General of MIneral and Coal - Indonesia
- Directorate Of Revenue Intelligence - India
- OPG Power Generation Pvt Ltd - India
- Latin American Coal - Colombia
- Chamber of Mines of South Africa
- Semirara Mining and Power Corporation, Philippines
- Standard Chartered Bank - UAE
- Riau Bara Harum - Indonesia
- Energy Link Ltd, New Zealand
- Agrawal Coal Company - India
- Ind-Barath Power Infra Limited - India
- ASAPP Information Group - India
- Ministry of Finance - Indonesia
- Simpson Spence & Young - Indonesia
- Bharathi Cement Corporation - India
- Meralco Power Generation, Philippines
- Renaissance Capital - South Africa
- Wood Mackenzie - Singapore
- Interocean Group of Companies - India
- McConnell Dowell - Australia
- Bayan Resources Tbk. - Indonesia
- Coal and Oil Company - UAE
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