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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 $152 million selling shares in an August IPO.
Source: Bloomberg ( By Jesse Riseborough and Yoga Rusmana )
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Friday, 30 September 11
MINING BILL CLEARED, FIRMS TO SHARE 26% PROFITS WITH LOCALS - NDTV
NDTV reported that, The Union Cabinet cleared the draft mining bill aimed at regulating mining activities Friday. The bill proposes a profit-sharing ...
Friday, 30 September 11
INDIAN IRON ORE MARKET GETTING ACTIVE - FEARNLEYS AS
Handy
The Atlantic market continued its strong trend with fresh cargoes entering the market. Vessels open US Gulf fixed tick above US$ 27k back to t ...
Friday, 30 September 11
KRISHNAPATNAM PORT WINS GLOBAL PORT & COAL PORT OF THE YEAR AWARDS
COALspot.com - Krishnapatnam Port, a dynamic new generation world class port located in the East Coast of India has been adjudged the winner in the ...
Thursday, 29 September 11
INDONESIA'S MINERS FACE AN UNCERTAIN FUTURE - RUPERT WALKER
An evolving regulatory framework for the country's minerals industry could threaten its profitability and stifle investment.
The five-year surge ...
Thursday, 29 September 11
DRY BULK MARKET FALLS MID-WEEK, FURTHER DROP EXPECTED NEXT WEEK ON CHINA HOLIDAYS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market, as reflected by the Baltic Dry Index (BDI) retreated by 0.36% yesterday reaching 1,920 points, with the Capesize segment suffer ...
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- Leighton Contractors Pty Ltd - Australia
- PTC India Limited - India
- Riau Bara Harum - Indonesia
- Mercuria Energy - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Binh Thuan Hamico - Vietnam
- Coal and Oil Company - UAE
- Kalimantan Lumbung Energi - Indonesia
- PowerSource Philippines DevCo
- Indika Energy - Indonesia
- International Coal Ventures Pvt Ltd - India
- Edison Trading Spa - Italy
- Sarangani Energy Corporation, Philippines
- TeaM Sual Corporation - Philippines
- Africa Commodities Group - South Africa
- Gujarat Mineral Development Corp Ltd - India
- Antam Resourcindo - Indonesia
- ASAPP Information Group - India
- South Luzon Thermal Energy Corporation
- Chamber of Mines of South Africa
- Timah Investasi Mineral - Indoneisa
- Attock Cement Pakistan Limited
- Iligan Light & Power Inc, Philippines
- Borneo Indobara - Indonesia
- Aboitiz Power Corporation - Philippines
- Central Java Power - Indonesia
- Indian Oil Corporation Limited
- PetroVietnam Power Coal Import and Supply Company
- Planning Commission, India
- Port Waratah Coal Services - Australia
- Globalindo Alam Lestari - Indonesia
- Videocon Industries ltd - India
- Aditya Birla Group - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ceylon Electricity Board - Sri Lanka
- IEA Clean Coal Centre - UK
- Meenaskhi Energy Private Limited - India
- Bukit Makmur.PT - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Coastal Gujarat Power Limited - India
- Rio Tinto Coal - Australia
- Directorate Of Revenue Intelligence - India
- SMG Consultants - Indonesia
- Goldman Sachs - Singapore
- Mercator Lines Limited - India
- Semirara Mining Corp, Philippines
- Pendopo Energi Batubara - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Global Coal Blending Company Limited - Australia
- Australian Coal Association
- SMC Global Power, Philippines
- Petron Corporation, Philippines
- Interocean Group of Companies - India
- Savvy Resources Ltd - HongKong
- Sindya Power Generating Company Private Ltd
- Intertek Mineral Services - Indonesia
- Ministry of Mines - Canada
- India Bulls Power Limited - India
- Eastern Energy - Thailand
- Sree Jayajothi Cements Limited - India
- Standard Chartered Bank - UAE
- Baramulti Group, Indonesia
- Global Green Power PLC Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Formosa Plastics Group - Taiwan
- Salva Resources Pvt Ltd - India
- Dalmia Cement Bharat India
- Indo Tambangraya Megah - Indonesia
- Indonesian Coal Mining Association
- Bhoruka Overseas - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Medco Energi Mining Internasional
- Mjunction Services Limited - India
- Ministry of Transport, Egypt
- Indogreen Group - Indonesia
- Chettinad Cement Corporation Ltd - India
- Maheswari Brothers Coal Limited - India
- Merrill Lynch Commodities Europe
- Australian Commodity Traders Exchange
- Barasentosa Lestari - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Economic Council, Georgia
- Central Electricity Authority - India
- CIMB Investment Bank - Malaysia
- Lanco Infratech Ltd - India
- ICICI Bank Limited - India
- London Commodity Brokers - England
- Samtan Co., Ltd - South Korea
- Bangladesh Power Developement Board
- Coalindo Energy - Indonesia
- San Jose City I Power Corp, Philippines
- Bhatia International Limited - India
- Jaiprakash Power Ventures ltd
- Kumho Petrochemical, South Korea
- Sinarmas Energy and Mining - Indonesia
- Bhushan Steel Limited - India
- Price Waterhouse Coopers - Russia
- Pipit Mutiara Jaya. PT, Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Kaltim Prima Coal - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Holcim Trading Pte Ltd - Singapore
- Cigading International Bulk Terminal - Indonesia
- Manunggal Multi Energi - Indonesia
- Electricity Authority, New Zealand
- The State Trading Corporation of India Ltd
- Thiess Contractors Indonesia
- Eastern Coal Council - USA
- Power Finance Corporation Ltd., India
- Grasim Industreis Ltd - India
- LBH Netherlands Bv - Netherlands
- Gujarat Electricity Regulatory Commission - India
- CNBM International Corporation - China
- Karaikal Port Pvt Ltd - India
- Global Business Power Corporation, Philippines
- Kepco SPC Power Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Ambuja Cements Ltd - India
- Madhucon Powers Ltd - India
- Makarim & Taira - Indonesia
- Sakthi Sugars Limited - India
- GAC Shipping (India) Pvt Ltd
- Romanian Commodities Exchange
- Uttam Galva Steels Limited - India
- Larsen & Toubro Limited - India
- Deloitte Consulting - India
- The University of Queensland
- Thai Mozambique Logistica
- Malabar Cements Ltd - India
- Parry Sugars Refinery, India
- Directorate General of MIneral and Coal - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Gujarat Sidhee Cement - India
- Ministry of Finance - Indonesia
- Carbofer General Trading SA - India
- Heidelberg Cement - Germany
- Therma Luzon, Inc, Philippines
- Siam City Cement PLC, Thailand
- Posco Energy - South Korea
- Bulk Trading Sa - Switzerland
- Straits Asia Resources Limited - Singapore
- SN Aboitiz Power Inc, Philippines
- GVK Power & Infra Limited - India
- Energy Link Ltd, New Zealand
- Georgia Ports Authority, United States
- Bharathi Cement Corporation - India
- Siam City Cement - Thailand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Tamil Nadu electricity Board
- Simpson Spence & Young - Indonesia
- Independent Power Producers Association of India
- Tata Chemicals Ltd - India
- Orica Mining Services - Indonesia
- McConnell Dowell - Australia
- Commonwealth Bank - Australia
- Latin American Coal - Colombia
- Parliament of New Zealand
- Anglo American - United Kingdom
- Trasteel International SA, Italy
- Electricity Generating Authority of Thailand
- The Treasury - Australian Government
- Sical Logistics Limited - India
- Star Paper Mills Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Orica Australia Pty. Ltd.
- New Zealand Coal & Carbon
- Agrawal Coal Company - India
- Toyota Tsusho Corporation, Japan
- Indian Energy Exchange, India
- PNOC Exploration Corporation - Philippines
- Meralco Power Generation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Wilmar Investment Holdings
- Banpu Public Company Limited - Thailand
- Alfred C Toepfer International GmbH - Germany
- Altura Mining Limited, Indonesia
- Bayan Resources Tbk. - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Kideco Jaya Agung - Indonesia
- Marubeni Corporation - India
- MS Steel International - UAE
- White Energy Company Limited
- Kobexindo Tractors - Indoneisa
- GMR Energy Limited - India
- Xindia Steels Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- European Bulk Services B.V. - Netherlands
- Bukit Baiduri Energy - Indonesia
- Vizag Seaport Private Limited - India
- Ind-Barath Power Infra Limited - India
- Oldendorff Carriers - Singapore
- VISA Power Limited - India
- Kartika Selabumi Mining - Indonesia
- OPG Power Generation Pvt Ltd - India
- Cement Manufacturers Association - India
- Rashtriya Ispat Nigam Limited - India
- Essar Steel Hazira Ltd - India
- Jindal Steel & Power Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Metalloyd Limited - United Kingdom
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Wood Mackenzie - Singapore
- Mintek Dendrill Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Minerals Council of Australia
- Miang Besar Coal Terminal - Indonesia
- IHS Mccloskey Coal Group - USA
- Renaissance Capital - South Africa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Vedanta Resources Plc - India
- Energy Development Corp, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Singapore Mercantile Exchange
- Sojitz Corporation - Japan
- Asmin Koalindo Tuhup - Indonesia
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