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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, 15 July 10
IRON ORE PRICING MECHANISMS PUT ON THE SPOT
THE new iron ore pricing mechanisms that killed off the annual benchmark system are coming under pressure. The spot price of the steel feed has fall ...
Thursday, 15 July 10
NTPC TO PURSUE COAL MINE ACQUISITION IN AUSTRALIA, INDONESIA - BUSINESS STANDARD
Business-Standard reported that, NTPC, the India’s largest power producer, has set the ball rolling to acquire coal mines or form joint ventur ...
Wednesday, 14 July 10
SUCCESSFUL COMMISSIONING OF GTLE LOW RANK COAL UPGRADING PLANT
COALspot.com: GTL Energy Ltd (GTL Energy) announced that construction and commissioning of its proprietary ‘first-of-a-kind’, low rank c ...
Tuesday, 13 July 10
BUMI TO PRODUCE MORE THAN 67 MILLION TONS OF COAL IN 2010
COALspot.com: Bumi resources, Indonesia’s largest coal producer has previewed its operating results in KPC/Arutmin for Jan – Jun 2010. A ...
Tuesday, 13 July 10
FURTHER LOSSES FOR BALTIC DRY INDEX ON HIGH VESSEL SUPPLY
The dry bulk market can’t catch a breath, as it has now entered the 7th straight week of losses. The industry’s benchmark, the Baltic Dr ...
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- Karbindo Abesyapradhi - Indoneisa
- Kepco SPC Power Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Jaiprakash Power Ventures ltd
- Ministry of Mines - Canada
- Africa Commodities Group - South Africa
- London Commodity Brokers - England
- Toyota Tsusho Corporation, Japan
- Coalindo Energy - Indonesia
- VISA Power Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Leighton Contractors Pty Ltd - Australia
- Meralco Power Generation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Thai Mozambique Logistica
- ASAPP Information Group - India
- Directorate Of Revenue Intelligence - India
- Ministry of Finance - Indonesia
- Marubeni Corporation - India
- Directorate General of MIneral and Coal - Indonesia
- International Coal Ventures Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- Salva Resources Pvt Ltd - India
- Carbofer General Trading SA - India
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- Sarangani Energy Corporation, Philippines
- Heidelberg Cement - Germany
- Kumho Petrochemical, South Korea
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- India Bulls Power Limited - India
- Interocean Group of Companies - India
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- Mjunction Services Limited - India
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- Rio Tinto Coal - Australia
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- Offshore Bulk Terminal Pte Ltd, Singapore
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- Neyveli Lignite Corporation Ltd, - India
- Chettinad Cement Corporation Ltd - India
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- Global Coal Blending Company Limited - Australia
- Tamil Nadu electricity Board
- Sindya Power Generating Company Private Ltd
- Maharashtra Electricity Regulatory Commission - India
- Samtan Co., Ltd - South Korea
- SMC Global Power, Philippines
- Semirara Mining Corp, Philippines
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- Agrawal Coal Company - India
- Petrochimia International Co. Ltd.- Taiwan
- CIMB Investment Bank - Malaysia
- Sical Logistics Limited - India
- PNOC Exploration Corporation - Philippines
- Gujarat Mineral Development Corp Ltd - India
- Borneo Indobara - Indonesia
- ICICI Bank Limited - India
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- Essar Steel Hazira Ltd - India
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- TeaM Sual Corporation - Philippines
- Holcim Trading Pte Ltd - Singapore
- Vijayanagar Sugar Pvt Ltd - India
- Sojitz Corporation - Japan
- SMG Consultants - Indonesia
- Eastern Energy - Thailand
- Electricity Authority, New Zealand
- Aditya Birla Group - India
- Cement Manufacturers Association - India
- Romanian Commodities Exchange
- Indian Energy Exchange, India
- Energy Development Corp, Philippines
- Makarim & Taira - Indonesia
- Meenaskhi Energy Private Limited - India
- Oldendorff Carriers - Singapore
- New Zealand Coal & Carbon
- Larsen & Toubro Limited - India
- Australian Coal Association
- Barasentosa Lestari - Indonesia
- Simpson Spence & Young - Indonesia
- GAC Shipping (India) Pvt Ltd
- Bahari Cakrawala Sebuku - Indonesia
- Iligan Light & Power Inc, Philippines
- Parliament of New Zealand
- Global Green Power PLC Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- Australian Commodity Traders Exchange
- Trasteel International SA, Italy
- LBH Netherlands Bv - Netherlands
- Thiess Contractors Indonesia
- IHS Mccloskey Coal Group - USA
- Miang Besar Coal Terminal - Indonesia
- The State Trading Corporation of India Ltd
- Uttam Galva Steels Limited - India
- The Treasury - Australian Government
- Bukit Asam (Persero) Tbk - Indonesia
- Jindal Steel & Power Ltd - India
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- Gujarat Electricity Regulatory Commission - India
- Petron Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- Riau Bara Harum - Indonesia
- Latin American Coal - Colombia
- AsiaOL BioFuels Corp., Philippines
- Bharathi Cement Corporation - India
- Indian Oil Corporation Limited
- Power Finance Corporation Ltd., India
- Vizag Seaport Private Limited - India
- Indika Energy - Indonesia
- Port Waratah Coal Services - Australia
- South Luzon Thermal Energy Corporation
- Kohat Cement Company Ltd. - Pakistan
- Indogreen Group - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Mercator Lines Limited - India
- PowerSource Philippines DevCo
- Standard Chartered Bank - UAE
- Minerals Council of Australia
- MS Steel International - UAE
- White Energy Company Limited
- European Bulk Services B.V. - Netherlands
- Kartika Selabumi Mining - Indonesia
- Ministry of Transport, Egypt
- Parry Sugars Refinery, India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Eastern Coal Council - USA
- Alfred C Toepfer International GmbH - Germany
- Wood Mackenzie - Singapore
- Orica Mining Services - Indonesia
- Bulk Trading Sa - Switzerland
- Merrill Lynch Commodities Europe
- Binh Thuan Hamico - Vietnam
- Formosa Plastics Group - Taiwan
- Sinarmas Energy and Mining - Indonesia
- Electricity Generating Authority of Thailand
- Central Java Power - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Chamber of Mines of South Africa
- Ind-Barath Power Infra Limited - India
- Rashtriya Ispat Nigam Limited - India
- Kapuas Tunggal Persada - Indonesia
- Gujarat Sidhee Cement - India
- Krishnapatnam Port Company Ltd. - India
- Metalloyd Limited - United Kingdom
- Independent Power Producers Association of India
- Banpu Public Company Limited - Thailand
- Madhucon Powers Ltd - India
- Aboitiz Power Corporation - Philippines
- Economic Council, Georgia
- Bayan Resources Tbk. - Indonesia
- Singapore Mercantile Exchange
- GN Power Mariveles Coal Plant, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Coal and Oil Company - UAE
- Therma Luzon, Inc, Philippines
- Indo Tambangraya Megah - Indonesia
- Renaissance Capital - South Africa
- Siam City Cement PLC, Thailand
- Indonesian Coal Mining Association
- CNBM International Corporation - China
- Edison Trading Spa - Italy
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Baramulti Group, Indonesia
- Semirara Mining and Power Corporation, Philippines
- GMR Energy Limited - India
- Billiton Holdings Pty Ltd - Australia
- Sree Jayajothi Cements Limited - India
- PTC India Limited - India
- Bhoruka Overseas - Indonesia
- Commonwealth Bank - Australia
- OPG Power Generation Pvt Ltd - India
- Georgia Ports Authority, United States
- Karaikal Port Pvt Ltd - India
- Altura Mining Limited, Indonesia
- Grasim Industreis Ltd - India
- Medco Energi Mining Internasional
- Posco Energy - South Korea
- McConnell Dowell - Australia
- Timah Investasi Mineral - Indoneisa
- Global Business Power Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- San Jose City I Power Corp, Philippines
- Straits Asia Resources Limited - Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bhatia International Limited - India
- Vedanta Resources Plc - India
- Anglo American - United Kingdom
- Dalmia Cement Bharat India
- Maheswari Brothers Coal Limited - India
- Price Waterhouse Coopers - Russia
- TNB Fuel Sdn Bhd - Malaysia
- IEA Clean Coal Centre - UK
- Kaltim Prima Coal - Indonesia
- Star Paper Mills Limited - India
- Xindia Steels Limited - India
- Savvy Resources Ltd - HongKong
- Siam City Cement - Thailand
- Intertek Mineral Services - Indonesia
- Wilmar Investment Holdings
- Bukit Makmur.PT - Indonesia
- Videocon Industries ltd - India
- Central Electricity Authority - India
- Energy Link Ltd, New Zealand
- GVK Power & Infra Limited - India
- Antam Resourcindo - Indonesia
- The University of Queensland
- Asmin Koalindo Tuhup - Indonesia
- Ambuja Cements Ltd - India
- Goldman Sachs - Singapore
- Bangladesh Power Developement Board
- Orica Australia Pty. Ltd.
- Planning Commission, India
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