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Tuesday, 16 November 10
ROTHSCHILD BUYS INDONESIAN COAL STAKES FOR $3 BILLION - BLOOMBERG
Bloomberg reported that, Nathaniel Rothschild, the only son of U.K. financier Jacob Rothschild, agreed to invest $3 billion in two Indonesian coal companies through Vallar Plc, allowing the nation’s biggest producer of the fuel to list in London.
Bloomberg further reported, Vallar will buy 75 percent of PT Berau Coal Energy and 25 percent of PT Bakrie & Brothers’ PT Bumi Resources in a cash and stock transaction, the company said today in a statement. Bakrie Group will be the largest combined shareholder in Vallar -- to be renamed Bumi Plc -- and have the right to nominate the chairman, chief executive officer and chief financial officer.
The reverse takeover, which gives control to the holders of the acquired company, will create an Indonesian “resources champion,” combining the nation’s largest coal producer, Bumi, and fifth-largest, Berau, according to Vallar. Rothschild, former co-president of New York hedge-fund firm Atticus Capital LLC, raised 707.2 million pounds ($1.13 billion) in Vallar’s initial public offering in London in July and had considered deals of as much as $5 billion.
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“This acquisition should be well received by investors since this is a good price for high-quality coal assets,” Liberum Capital analysts wrote in a report. “A London-listed, large scale, pure play Indonesian coal play should offer a unique commodity exposure and have strong investment appeal.”
Bumi Plc will target coal output of 140 million metric tons a year and be the largest thermal-coal supplier to China, Rothschild said on a conference call.
Mandatory Offer
Vallar, whose London-traded shares were suspended today, plans to make a mandatory offer to Berau’s minority shareholders and increase its ownership in Bumi in 2011, it said. Bakrie Group will hold 43 percent of Vallar stock after the deal.
The planned London listing, the first for an Indonesian company, “will enhance our international profile, provide a currency and platform for development in the region and put us in a much stronger position to build on the organic growth that our combined assets already provide,” Indra Bakrie, proposed chairman of Jersey, Channel Islands-based Vallar, said in the statement.
The “remarkable” deal is a “win-win” for shareholders, said Rothschild, who in April ranked seventh in the Sunday Times “Rich List,” an annual estimate of net worth of the 25 wealthiest U.K.-based hedge-fund managers.
Bumi Production
Indonesia is Asia’s biggest exporter of thermal coal, used in power stations. Bumi Resources, the country’s largest coal miner by volume with a market value of 54 trillion rupiah ($6 billion), produced 60 million tons and sold 58 million tons of the fuel last year.
The Jakarta-based company is a unit of Bakrie & Brothers, an investment company controlled by the family of billionaire and politician Aburizal Bakrie, Indonesia’s fourth-richest man, according to Forbes Asia. Sovereign wealth fund China Investment Corp. bought $1.9 billion of debt from Bumi in September 2009.
Bumi shares reversed losses after today’s announcement, rising 2 percent to 2,600 rupiah at 3:40 p.m. Jakarta time. The stock has climbed 7.2 percent this year, compared with a 44 percent gain in the benchmark Jakarta Composite Index.
Berau, with a market value of 18.2 trillion rupiah, is 75 percent owned by PT Bukit Mutiara, a unit of PT Recapital Advisors. Bukit Mutiara will retain 15.3 percent after the sale, Berau said in a statement.
Berau expects to produce 17.9 million tons of coal this year, rising to as much as 22 million tons by 2012, President Director Rosan Roeslani said Aug. 19. The Jakarta-based company raised $152 million selling shares in an August IPO.
Source: Bloomberg ( By Jesse Riseborough and Yoga Rusmana )
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Wednesday, 19 October 11
ADARO ACQUIRES BUKIT ENIM ENERGI - INSIDER STORIES
Insider Stories reported that, Coal miner PT Adaro Energy Tbk, via its subsidiary dubbed PT Alam Tri Abadi, today revealed a 46% stake takeover of a ...
Tuesday, 18 October 11
INDONESIAN PRESIDENT APPOINTS JERO WACIK AS NEW MINISTER OF ENERGY & MINERAL RESOURCES
COALspot.com - Jero Wacik has been appointed as minister of energy and mineral resources of Indonesia replacing Darwin Saleh and Prof. Widjajono Par ...
Tuesday, 18 October 11
DELTA DUNIA MAKMUR HAS PRODUCED 3.0 MILLION TONS OF COAL LAST MONTH
COALspot.com - PT. Delta Dunia Makmur, wholly owned subsidiary, PT Bukit Makmur Mandiri Utama (BUMA), Delta Dunia Makmur has removed 1.4 million bcm ...
Monday, 17 October 11
KOWEPO TO BUY 260,000 MT BITUMINOUS COAL
COALspot.com - KOWEPO has issued a spot tender for 260,000MT of minimum 5,600kcal/kg NAR Bituminous Coal.
The tender document also mentioned tha ...
Monday, 17 October 11
CAPESIZE SHIPPING COSTS CLIMB TO 10-MONTH HIGH ON ORE IMPORTS
The cost to hire capesize vessels climbed to a 10-month high as rising imports of iron ore to China boosted demand for the ships.Monthly iron-ore sh ...
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- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Pendopo Energi Batubara - Indonesia
- Siam City Cement PLC, Thailand
- Kumho Petrochemical, South Korea
- Ceylon Electricity Board - Sri Lanka
- Thai Mozambique Logistica
- Energy Development Corp, Philippines
- Ambuja Cements Ltd - India
- Mercuria Energy - Indonesia
- Sarangani Energy Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- Carbofer General Trading SA - India
- Australian Commodity Traders Exchange
- Wood Mackenzie - Singapore
- Bukit Baiduri Energy - Indonesia
- Thiess Contractors Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- GVK Power & Infra Limited - India
- Bhushan Steel Limited - India
- Commonwealth Bank - Australia
- Miang Besar Coal Terminal - Indonesia
- Kaltim Prima Coal - Indonesia
- Indian Oil Corporation Limited
- Sree Jayajothi Cements Limited - India
- Ind-Barath Power Infra Limited - India
- Standard Chartered Bank - UAE
- Eastern Energy - Thailand
- Romanian Commodities Exchange
- Bank of Tokyo Mitsubishi UFJ Ltd
- Jorong Barutama Greston.PT - Indonesia
- Minerals Council of Australia
- Essar Steel Hazira Ltd - India
- GMR Energy Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Global Coal Blending Company Limited - Australia
- Oldendorff Carriers - Singapore
- SMG Consultants - Indonesia
- Tata Chemicals Ltd - India
- Central Java Power - Indonesia
- ASAPP Information Group - India
- Indika Energy - Indonesia
- Riau Bara Harum - Indonesia
- Malabar Cements Ltd - India
- Antam Resourcindo - Indonesia
- Bulk Trading Sa - Switzerland
- The Treasury - Australian Government
- Aboitiz Power Corporation - Philippines
- Jaiprakash Power Ventures ltd
- Petron Corporation, Philippines
- White Energy Company Limited
- Heidelberg Cement - Germany
- Madhucon Powers Ltd - India
- PNOC Exploration Corporation - Philippines
- Jindal Steel & Power Ltd - India
- Georgia Ports Authority, United States
- Kobexindo Tractors - Indoneisa
- Vijayanagar Sugar Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Billiton Holdings Pty Ltd - Australia
- Manunggal Multi Energi - Indonesia
- Savvy Resources Ltd - HongKong
- Iligan Light & Power Inc, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Larsen & Toubro Limited - India
- Borneo Indobara - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Independent Power Producers Association of India
- Dalmia Cement Bharat India
- Kohat Cement Company Ltd. - Pakistan
- San Jose City I Power Corp, Philippines
- Australian Coal Association
- Xindia Steels Limited - India
- Alfred C Toepfer International GmbH - Germany
- London Commodity Brokers - England
- GAC Shipping (India) Pvt Ltd
- Latin American Coal - Colombia
- Parliament of New Zealand
- India Bulls Power Limited - India
- South Luzon Thermal Energy Corporation
- Mjunction Services Limited - India
- Central Electricity Authority - India
- Sical Logistics Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Intertek Mineral Services - Indonesia
- Energy Link Ltd, New Zealand
- Salva Resources Pvt Ltd - India
- Mintek Dendrill Indonesia
- Videocon Industries ltd - India
- PowerSource Philippines DevCo
- SN Aboitiz Power Inc, Philippines
- Merrill Lynch Commodities Europe
- Altura Mining Limited, Indonesia
- Kepco SPC Power Corporation, Philippines
- Goldman Sachs - Singapore
- OPG Power Generation Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Renaissance Capital - South Africa
- Toyota Tsusho Corporation, Japan
- Therma Luzon, Inc, Philippines
- Simpson Spence & Young - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Bhoruka Overseas - Indonesia
- Coal and Oil Company - UAE
- Ministry of Transport, Egypt
- Cigading International Bulk Terminal - Indonesia
- Planning Commission, India
- Chettinad Cement Corporation Ltd - India
- Directorate Of Revenue Intelligence - India
- Port Waratah Coal Services - Australia
- Straits Asia Resources Limited - Singapore
- Sojitz Corporation - Japan
- Pipit Mutiara Jaya. PT, Indonesia
- Sinarmas Energy and Mining - Indonesia
- Timah Investasi Mineral - Indoneisa
- The State Trading Corporation of India Ltd
- Aditya Birla Group - India
- Mercator Lines Limited - India
- Globalindo Alam Lestari - Indonesia
- TeaM Sual Corporation - Philippines
- Banpu Public Company Limited - Thailand
- Kalimantan Lumbung Energi - Indonesia
- Interocean Group of Companies - India
- Coalindo Energy - Indonesia
- Metalloyd Limited - United Kingdom
- Semirara Mining and Power Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- Attock Cement Pakistan Limited
- Lanco Infratech Ltd - India
- Makarim & Taira - Indonesia
- Power Finance Corporation Ltd., India
- Wilmar Investment Holdings
- TNB Fuel Sdn Bhd - Malaysia
- Electricity Authority, New Zealand
- AsiaOL BioFuels Corp., Philippines
- Global Business Power Corporation, Philippines
- Meralco Power Generation, Philippines
- New Zealand Coal & Carbon
- Rio Tinto Coal - Australia
- Grasim Industreis Ltd - India
- Sakthi Sugars Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Kartika Selabumi Mining - Indonesia
- Indian Energy Exchange, India
- Asmin Koalindo Tuhup - Indonesia
- Meenaskhi Energy Private Limited - India
- Semirara Mining Corp, Philippines
- Bayan Resources Tbk. - Indonesia
- LBH Netherlands Bv - Netherlands
- CNBM International Corporation - China
- Cement Manufacturers Association - India
- Holcim Trading Pte Ltd - Singapore
- Anglo American - United Kingdom
- Indo Tambangraya Megah - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Orica Australia Pty. Ltd.
- Ministry of Mines - Canada
- Karbindo Abesyapradhi - Indoneisa
- Coastal Gujarat Power Limited - India
- Indonesian Coal Mining Association
- Offshore Bulk Terminal Pte Ltd, Singapore
- European Bulk Services B.V. - Netherlands
- Samtan Co., Ltd - South Korea
- IHS Mccloskey Coal Group - USA
- Vizag Seaport Private Limited - India
- Chamber of Mines of South Africa
- Gujarat Electricity Regulatory Commission - India
- International Coal Ventures Pvt Ltd - India
- Tamil Nadu electricity Board
- Ministry of Finance - Indonesia
- Parry Sugars Refinery, India
- McConnell Dowell - Australia
- MS Steel International - UAE
- Maharashtra Electricity Regulatory Commission - India
- Kapuas Tunggal Persada - Indonesia
- Vedanta Resources Plc - India
- Bhatia International Limited - India
- Deloitte Consulting - India
- PTC India Limited - India
- VISA Power Limited - India
- Bukit Makmur.PT - Indonesia
- Bharathi Cement Corporation - India
- Edison Trading Spa - Italy
- Indogreen Group - Indonesia
- Uttam Galva Steels Limited - India
- SMC Global Power, Philippines
- IEA Clean Coal Centre - UK
- Siam City Cement - Thailand
- Posco Energy - South Korea
- Baramulti Group, Indonesia
- Bangladesh Power Developement Board
- Price Waterhouse Coopers - Russia
- Formosa Plastics Group - Taiwan
- Barasentosa Lestari - Indonesia
- Gujarat Sidhee Cement - India
- Directorate General of MIneral and Coal - Indonesia
- Global Green Power PLC Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Electricity Generating Authority of Thailand
- Singapore Mercantile Exchange
- Africa Commodities Group - South Africa
- Binh Thuan Hamico - Vietnam
- Eastern Coal Council - USA
- Medco Energi Mining Internasional
- The University of Queensland
- ICICI Bank Limited - India
- Agrawal Coal Company - India
- CIMB Investment Bank - Malaysia
- Marubeni Corporation - India
- Maheswari Brothers Coal Limited - India
- Trasteel International SA, Italy
- Star Paper Mills Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Orica Mining Services - Indonesia
- Economic Council, Georgia
- Kideco Jaya Agung - Indonesia
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