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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, 14 September 11
GOVT SETS SEPTEMBER COAL REFERENCE PRICE AT $116.26 PER TON
COALspot.com - Ministry of Energy and Mineral Resources of Indonesia has set the September 2011 coal reference price at US$ 116.26 per ton slightly ...
Tuesday, 13 September 11
CAPITAL COSTS OF INDIAN COAL MINING PROJECT - AN ANALYST VIEW
By Mr Dipesh Dipu, Director - Consulting (Mining), Deloitte Touche Tohmatsu India Private Limited
The coal mining sector that has been opened par ...
Tuesday, 13 September 11
INDONESIAS COAL SECTOR EYES 2012 BOOM - JG
The Jakarta Globe, Indonesian English language News paper reported that, Coal production is set to surge next year as coal miners bolster their busi ...
Tuesday, 13 September 11
DRY BULK RALLY MAINTAINS MOMENTUM AT START OF THE WEEK - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market kept its upward momentum at the start of the week, as the industry’s benchmark, the Baltic Dry Index (BDI) was up by 2.07% ...
Monday, 12 September 11
INDONESIAN GOVERNMENT HAS ALLOCATED MORE COAL FOR 2012
COALspot.com - Indonesian government has increased the domestic market obligation allocation to 82.07 million tons of coal for 2012, which is 4 perc ...
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- Maharashtra Electricity Regulatory Commission - India
- Globalindo Alam Lestari - Indonesia
- Directorate Of Revenue Intelligence - India
- Sindya Power Generating Company Private Ltd
- Central Java Power - Indonesia
- SMG Consultants - Indonesia
- Indian Oil Corporation Limited
- Cement Manufacturers Association - India
- Jindal Steel & Power Ltd - India
- Kartika Selabumi Mining - Indonesia
- Rio Tinto Coal - Australia
- Kapuas Tunggal Persada - Indonesia
- Alfred C Toepfer International GmbH - Germany
- European Bulk Services B.V. - Netherlands
- Banpu Public Company Limited - Thailand
- Semirara Mining and Power Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Planning Commission, India
- Commonwealth Bank - Australia
- Energy Link Ltd, New Zealand
- Cigading International Bulk Terminal - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- GMR Energy Limited - India
- Interocean Group of Companies - India
- The University of Queensland
- Parliament of New Zealand
- Edison Trading Spa - Italy
- Global Coal Blending Company Limited - Australia
- Billiton Holdings Pty Ltd - Australia
- MS Steel International - UAE
- Lanco Infratech Ltd - India
- Ministry of Transport, Egypt
- Anglo American - United Kingdom
- Deloitte Consulting - India
- Indika Energy - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Georgia Ports Authority, United States
- Essar Steel Hazira Ltd - India
- Formosa Plastics Group - Taiwan
- Therma Luzon, Inc, Philippines
- PNOC Exploration Corporation - Philippines
- Vizag Seaport Private Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- PTC India Limited - India
- Merrill Lynch Commodities Europe
- Pipit Mutiara Jaya. PT, Indonesia
- Eastern Energy - Thailand
- Bukit Baiduri Energy - Indonesia
- GAC Shipping (India) Pvt Ltd
- Petron Corporation, Philippines
- Kepco SPC Power Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Simpson Spence & Young - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bayan Resources Tbk. - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Standard Chartered Bank - UAE
- Marubeni Corporation - India
- Price Waterhouse Coopers - Russia
- Madhucon Powers Ltd - India
- Indogreen Group - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Straits Asia Resources Limited - Singapore
- IHS Mccloskey Coal Group - USA
- Aboitiz Power Corporation - Philippines
- CNBM International Corporation - China
- India Bulls Power Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Uttam Galva Steels Limited - India
- Renaissance Capital - South Africa
- Attock Cement Pakistan Limited
- South Luzon Thermal Energy Corporation
- Makarim & Taira - Indonesia
- Independent Power Producers Association of India
- Salva Resources Pvt Ltd - India
- Port Waratah Coal Services - Australia
- Ambuja Cements Ltd - India
- Thiess Contractors Indonesia
- Iligan Light & Power Inc, Philippines
- Mercuria Energy - Indonesia
- Sical Logistics Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Coalindo Energy - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- SN Aboitiz Power Inc, Philippines
- Sakthi Sugars Limited - India
- Toyota Tsusho Corporation, Japan
- Xindia Steels Limited - India
- Intertek Mineral Services - Indonesia
- Latin American Coal - Colombia
- Ministry of Finance - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Ceylon Electricity Board - Sri Lanka
- CIMB Investment Bank - Malaysia
- AsiaOL BioFuels Corp., Philippines
- Australian Commodity Traders Exchange
- Aditya Birla Group - India
- Indian Energy Exchange, India
- Karaikal Port Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Metalloyd Limited - United Kingdom
- LBH Netherlands Bv - Netherlands
- Chamber of Mines of South Africa
- Meralco Power Generation, Philippines
- Sojitz Corporation - Japan
- Tamil Nadu electricity Board
- Bulk Trading Sa - Switzerland
- IEA Clean Coal Centre - UK
- Antam Resourcindo - Indonesia
- Meenaskhi Energy Private Limited - India
- Barasentosa Lestari - Indonesia
- Coastal Gujarat Power Limited - India
- Energy Development Corp, Philippines
- Jaiprakash Power Ventures ltd
- ICICI Bank Limited - India
- Economic Council, Georgia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Australian Coal Association
- Jorong Barutama Greston.PT - Indonesia
- Agrawal Coal Company - India
- Siam City Cement - Thailand
- Goldman Sachs - Singapore
- Gujarat Mineral Development Corp Ltd - India
- Sarangani Energy Corporation, Philippines
- Bangladesh Power Developement Board
- Bhushan Steel Limited - India
- International Coal Ventures Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- Coal and Oil Company - UAE
- Videocon Industries ltd - India
- ASAPP Information Group - India
- Sinarmas Energy and Mining - Indonesia
- Orica Mining Services - Indonesia
- Power Finance Corporation Ltd., India
- PowerSource Philippines DevCo
- Grasim Industreis Ltd - India
- Tata Chemicals Ltd - India
- Electricity Authority, New Zealand
- Medco Energi Mining Internasional
- Rashtriya Ispat Nigam Limited - India
- Directorate General of MIneral and Coal - Indonesia
- New Zealand Coal & Carbon
- Minerals Council of Australia
- Asmin Koalindo Tuhup - Indonesia
- Vedanta Resources Plc - India
- Romanian Commodities Exchange
- SMC Global Power, Philippines
- Kumho Petrochemical, South Korea
- Savvy Resources Ltd - HongKong
- Holcim Trading Pte Ltd - Singapore
- Oldendorff Carriers - Singapore
- Carbofer General Trading SA - India
- London Commodity Brokers - England
- Singapore Mercantile Exchange
- Malabar Cements Ltd - India
- GVK Power & Infra Limited - India
- Semirara Mining Corp, Philippines
- Orica Australia Pty. Ltd.
- Baramulti Group, Indonesia
- McConnell Dowell - Australia
- Africa Commodities Group - South Africa
- Global Green Power PLC Corporation, Philippines
- Samtan Co., Ltd - South Korea
- Sree Jayajothi Cements Limited - India
- Bharathi Cement Corporation - India
- Indo Tambangraya Megah - Indonesia
- Star Paper Mills Limited - India
- Heidelberg Cement - Germany
- Thai Mozambique Logistica
- Indonesian Coal Mining Association
- Ind-Barath Power Infra Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Pendopo Energi Batubara - Indonesia
- Bhoruka Overseas - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- TNB Fuel Sdn Bhd - Malaysia
- Bhatia International Limited - India
- Trasteel International SA, Italy
- Miang Besar Coal Terminal - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- The State Trading Corporation of India Ltd
- Mercator Lines Limited - India
- Borneo Indobara - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Gujarat Sidhee Cement - India
- Central Electricity Authority - India
- Gujarat Electricity Regulatory Commission - India
- White Energy Company Limited
- Wood Mackenzie - Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bukit Makmur.PT - Indonesia
- Maheswari Brothers Coal Limited - India
- The Treasury - Australian Government
- Mintek Dendrill Indonesia
- Altura Mining Limited, Indonesia
- Siam City Cement PLC, Thailand
- Electricity Generating Authority of Thailand
- Posco Energy - South Korea
- Dalmia Cement Bharat India
- Ministry of Mines - Canada
- Global Business Power Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- Wilmar Investment Holdings
- Mjunction Services Limited - India
- Parry Sugars Refinery, India
- Larsen & Toubro Limited - India
- Eastern Coal Council - USA
- TeaM Sual Corporation - Philippines
- Manunggal Multi Energi - Indonesia
- Chettinad Cement Corporation Ltd - India
- Riau Bara Harum - Indonesia
- Kobexindo Tractors - Indoneisa
- OPG Power Generation Pvt Ltd - India
- VISA Power Limited - India
- San Jose City I Power Corp, Philippines
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