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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 $152 million selling shares in an August IPO.
Source: Bloomberg ( By Jesse Riseborough and Yoga Rusmana )
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Wednesday, 09 March 11
INDONESIA HAS SET THE MARCH 2011 INDONESIAN COAL REFERENCE PRICE FOR THERMAL COAL AT US$ 122.43 PER TON
COALspot.com - Indonesia’s Ministry of Energy and Mineral Resources has set the March 2011 Indonesian Coal Reference Price for thermal c ...
Tuesday, 08 March 11
US$ 8 BILLION WORTH OF INFRASTRUCTURE PROJECTS IN PIPELINE IN INDONESIA - WOOD MACKENZIE
India’s Increasing Demand for Thermal Coal Cannot Be Satisfied Without Emerging Coal Areas in Indonesia - Wood Mackenzie
At Coa ...
Tuesday, 08 March 11
INDIA'S VEDANTA TO ACQUIRE COAL MINES IN OVERSEAS
COALspot.com - India's Vedanta group is also looking at long-term off take agreements and possible acquire of coal mines overseas, the official sai ...
Tuesday, 08 March 11
MINERS SAY VALUE-ADDED LAW WILL HURT IN THE LONG RUN - THE JAKARTA GLOBE
The Jakarta Globe reported that, Government plans to require miners to give added value to their exported commodities could end up costing the count ...
Tuesday, 08 March 11
THE PANAMAX MARKET THIS WEEK FIRMED UP - BRS
Underlining the unpredictability of the current market, rates for all dry bulk segments swung up again last week. Stronger exports out of South Amer ...
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- South Luzon Thermal Energy Corporation
- VISA Power Limited - India
- Indonesian Coal Mining Association
- Eastern Energy - Thailand
- Pendopo Energi Batubara - Indonesia
- Gujarat Sidhee Cement - India
- Trasteel International SA, Italy
- Posco Energy - South Korea
- White Energy Company Limited
- Carbofer General Trading SA - India
- TNB Fuel Sdn Bhd - Malaysia
- Miang Besar Coal Terminal - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Mercuria Energy - Indonesia
- Edison Trading Spa - Italy
- Meralco Power Generation, Philippines
- Globalindo Alam Lestari - Indonesia
- Bukit Baiduri Energy - Indonesia
- Binh Thuan Hamico - Vietnam
- Minerals Council of Australia
- Latin American Coal - Colombia
- Wood Mackenzie - Singapore
- Energy Development Corp, Philippines
- PTC India Limited - India
- Chettinad Cement Corporation Ltd - India
- Karaikal Port Pvt Ltd - India
- Indian Oil Corporation Limited
- GAC Shipping (India) Pvt Ltd
- Jaiprakash Power Ventures ltd
- Therma Luzon, Inc, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Bhoruka Overseas - Indonesia
- Rio Tinto Coal - Australia
- Star Paper Mills Limited - India
- Kumho Petrochemical, South Korea
- Deloitte Consulting - India
- San Jose City I Power Corp, Philippines
- Iligan Light & Power Inc, Philippines
- Goldman Sachs - Singapore
- Anglo American - United Kingdom
- Samtan Co., Ltd - South Korea
- Mjunction Services Limited - India
- CIMB Investment Bank - Malaysia
- Agrawal Coal Company - India
- Straits Asia Resources Limited - Singapore
- Power Finance Corporation Ltd., India
- Karbindo Abesyapradhi - Indoneisa
- Merrill Lynch Commodities Europe
- Formosa Plastics Group - Taiwan
- Asmin Koalindo Tuhup - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Medco Energi Mining Internasional
- Essar Steel Hazira Ltd - India
- Borneo Indobara - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Energy Link Ltd, New Zealand
- Port Waratah Coal Services - Australia
- Global Business Power Corporation, Philippines
- Planning Commission, India
- Rashtriya Ispat Nigam Limited - India
- Ministry of Transport, Egypt
- Ministry of Finance - Indonesia
- ASAPP Information Group - India
- Orica Mining Services - Indonesia
- Larsen & Toubro Limited - India
- Vedanta Resources Plc - India
- Coal and Oil Company - UAE
- GMR Energy Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indogreen Group - Indonesia
- Tata Chemicals Ltd - India
- The State Trading Corporation of India Ltd
- PNOC Exploration Corporation - Philippines
- GVK Power & Infra Limited - India
- Barasentosa Lestari - Indonesia
- Vizag Seaport Private Limited - India
- Heidelberg Cement - Germany
- Timah Investasi Mineral - Indoneisa
- Coastal Gujarat Power Limited - India
- MS Steel International - UAE
- SMG Consultants - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Central Java Power - Indonesia
- Thai Mozambique Logistica
- PetroVietnam Power Coal Import and Supply Company
- Holcim Trading Pte Ltd - Singapore
- OPG Power Generation Pvt Ltd - India
- Mercator Lines Limited - India
- Price Waterhouse Coopers - Russia
- Australian Coal Association
- Dalmia Cement Bharat India
- Riau Bara Harum - Indonesia
- Australian Commodity Traders Exchange
- European Bulk Services B.V. - Netherlands
- Central Electricity Authority - India
- Marubeni Corporation - India
- McConnell Dowell - Australia
- Independent Power Producers Association of India
- CNBM International Corporation - China
- Tamil Nadu electricity Board
- Ambuja Cements Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Kapuas Tunggal Persada - Indonesia
- Sree Jayajothi Cements Limited - India
- Grasim Industreis Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Indian Energy Exchange, India
- Siam City Cement PLC, Thailand
- Savvy Resources Ltd - HongKong
- Bukit Makmur.PT - Indonesia
- Madhucon Powers Ltd - India
- Chamber of Mines of South Africa
- Mintek Dendrill Indonesia
- Petron Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sakthi Sugars Limited - India
- Ministry of Mines - Canada
- Romanian Commodities Exchange
- Bharathi Cement Corporation - India
- IHS Mccloskey Coal Group - USA
- Salva Resources Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Antam Resourcindo - Indonesia
- Videocon Industries ltd - India
- TeaM Sual Corporation - Philippines
- Simpson Spence & Young - Indonesia
- Baramulti Group, Indonesia
- Standard Chartered Bank - UAE
- Ceylon Electricity Board - Sri Lanka
- Banpu Public Company Limited - Thailand
- Singapore Mercantile Exchange
- Kobexindo Tractors - Indoneisa
- Parliament of New Zealand
- Uttam Galva Steels Limited - India
- Bhushan Steel Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Semirara Mining Corp, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Ind-Barath Power Infra Limited - India
- India Bulls Power Limited - India
- Bulk Trading Sa - Switzerland
- PowerSource Philippines DevCo
- IEA Clean Coal Centre - UK
- Indo Tambangraya Megah - Indonesia
- Aboitiz Power Corporation - Philippines
- Billiton Holdings Pty Ltd - Australia
- Eastern Coal Council - USA
- Gujarat Mineral Development Corp Ltd - India
- Malabar Cements Ltd - India
- Commonwealth Bank - Australia
- Metalloyd Limited - United Kingdom
- Sindya Power Generating Company Private Ltd
- Interocean Group of Companies - India
- Intertek Mineral Services - Indonesia
- Kaltim Prima Coal - Indonesia
- Sinarmas Energy and Mining - Indonesia
- The University of Queensland
- Indika Energy - Indonesia
- Bhatia International Limited - India
- Cement Manufacturers Association - India
- Manunggal Multi Energi - Indonesia
- SMC Global Power, Philippines
- Kepco SPC Power Corporation, Philippines
- Aditya Birla Group - India
- Petrochimia International Co. Ltd.- Taiwan
- LBH Netherlands Bv - Netherlands
- Semirara Mining and Power Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- Bayan Resources Tbk. - Indonesia
- Altura Mining Limited, Indonesia
- Global Green Power PLC Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- Makarim & Taira - Indonesia
- Attock Cement Pakistan Limited
- Parry Sugars Refinery, India
- Electricity Authority, New Zealand
- Thiess Contractors Indonesia
- Jindal Steel & Power Ltd - India
- The Treasury - Australian Government
- Bangladesh Power Developement Board
- Alfred C Toepfer International GmbH - Germany
- Sical Logistics Limited - India
- Wilmar Investment Holdings
- Kartika Selabumi Mining - Indonesia
- Lanco Infratech Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Toyota Tsusho Corporation, Japan
- Georgia Ports Authority, United States
- Directorate General of MIneral and Coal - Indonesia
- Siam City Cement - Thailand
- Africa Commodities Group - South Africa
- Sojitz Corporation - Japan
- New Zealand Coal & Carbon
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Electricity Generating Authority of Thailand
- Xindia Steels Limited - India
- Oldendorff Carriers - Singapore
- Global Coal Blending Company Limited - Australia
- Coalindo Energy - Indonesia
- Sarangani Energy Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Meenaskhi Energy Private Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Renaissance Capital - South Africa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kideco Jaya Agung - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- ICICI Bank Limited - India
- International Coal Ventures Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- London Commodity Brokers - England
- Economic Council, Georgia
- Directorate Of Revenue Intelligence - India
- Krishnapatnam Port Company Ltd. - India
- Orica Australia Pty. Ltd.
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