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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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Monday, 10 January 11
COAL MONGOLIA IS INVITING YOU TO THE INTERNATIONAL COAL SECTOR INVESTORS CONFERENCE
COALspot.com - (Press Release) - The Coal Mongolian Conference will take place at Chinggis Hotel, in Ulaanbaatar on 24-25, Feb 2011. The coal bonanz ...
Monday, 10 January 11
DEWA SEEKS ADVICE ON COAL POWER PROJECT -THE NATIONAL
The Dubai utility company gets nine bids from international groups for consultancy role.
The National reported that, Dubai's utility company wil ...
Saturday, 08 January 11
COAL PRICE WILL RISE IN SHORT-TERM DUE TO AUSTRALIA FLOODS - ALBUQUERQUE EXPRESS
Albuquerque Express reported that, Queensland’s mining minister, Stephen Robertson, has warned that the Australian state’s coal mines wi ...
Saturday, 08 January 11
THE INDONESIAN COAL REFERENCE PRICE HAS JUMPED 8.69 PERCENT IN JANUARY 2011
COALspot.com - Indonesia’s Ministry of Energy and Mineral Resources has set the January 2011 Indonesian Coal Reference Price for thermal ...
Saturday, 08 January 11
SUPRAMAX VESSELS WERE FIXED AT AROUND $ 9000 PD FOR A TRIP VIA INDONESIA TO INDIA - VISTAAR
COALspot.com - The holiday season affect combined with severe flooding in Queensland ports continues to keep the market and pressure. “Suprama ...
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- Pendopo Energi Batubara - Indonesia
- Siam City Cement - Thailand
- Indika Energy - Indonesia
- Jaiprakash Power Ventures ltd
- Sarangani Energy Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- ICICI Bank Limited - India
- Grasim Industreis Ltd - India
- Goldman Sachs - Singapore
- Oldendorff Carriers - Singapore
- AsiaOL BioFuels Corp., Philippines
- Ind-Barath Power Infra Limited - India
- Planning Commission, India
- SMC Global Power, Philippines
- Coastal Gujarat Power Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Eastern Coal Council - USA
- Economic Council, Georgia
- Alfred C Toepfer International GmbH - Germany
- Electricity Generating Authority of Thailand
- Meralco Power Generation, Philippines
- GMR Energy Limited - India
- Sree Jayajothi Cements Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Makarim & Taira - Indonesia
- Sical Logistics Limited - India
- Baramulti Group, Indonesia
- Sojitz Corporation - Japan
- Kalimantan Lumbung Energi - Indonesia
- Cement Manufacturers Association - India
- Madhucon Powers Ltd - India
- San Jose City I Power Corp, Philippines
- Semirara Mining Corp, Philippines
- Miang Besar Coal Terminal - Indonesia
- Carbofer General Trading SA - India
- Aboitiz Power Corporation - Philippines
- TeaM Sual Corporation - Philippines
- PTC India Limited - India
- Rashtriya Ispat Nigam Limited - India
- Indo Tambangraya Megah - Indonesia
- Dalmia Cement Bharat India
- Bukit Makmur.PT - Indonesia
- Medco Energi Mining Internasional
- Coalindo Energy - Indonesia
- Orica Australia Pty. Ltd.
- Merrill Lynch Commodities Europe
- Ministry of Mines - Canada
- Edison Trading Spa - Italy
- Bhatia International Limited - India
- PowerSource Philippines DevCo
- Krishnapatnam Port Company Ltd. - India
- Sinarmas Energy and Mining - Indonesia
- Petron Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Georgia Ports Authority, United States
- Aditya Birla Group - India
- Romanian Commodities Exchange
- GAC Shipping (India) Pvt Ltd
- Attock Cement Pakistan Limited
- Bhoruka Overseas - Indonesia
- CIMB Investment Bank - Malaysia
- Marubeni Corporation - India
- South Luzon Thermal Energy Corporation
- European Bulk Services B.V. - Netherlands
- SMG Consultants - Indonesia
- Essar Steel Hazira Ltd - India
- The University of Queensland
- Vizag Seaport Private Limited - India
- Star Paper Mills Limited - India
- The Treasury - Australian Government
- Deloitte Consulting - India
- Ambuja Cements Ltd - India
- Maheswari Brothers Coal Limited - India
- MS Steel International - UAE
- Ministry of Transport, Egypt
- Energy Link Ltd, New Zealand
- Indogreen Group - Indonesia
- Indian Energy Exchange, India
- LBH Netherlands Bv - Netherlands
- Gujarat Sidhee Cement - India
- Tamil Nadu electricity Board
- Anglo American - United Kingdom
- Meenaskhi Energy Private Limited - India
- Karaikal Port Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Salva Resources Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- VISA Power Limited - India
- Wood Mackenzie - Singapore
- Jindal Steel & Power Ltd - India
- ASAPP Information Group - India
- Intertek Mineral Services - Indonesia
- Uttam Galva Steels Limited - India
- Port Waratah Coal Services - Australia
- Chamber of Mines of South Africa
- Thiess Contractors Indonesia
- Central Java Power - Indonesia
- PNOC Exploration Corporation - Philippines
- Timah Investasi Mineral - Indoneisa
- Australian Coal Association
- Indonesian Coal Mining Association
- Gujarat Electricity Regulatory Commission - India
- OPG Power Generation Pvt Ltd - India
- Rio Tinto Coal - Australia
- Billiton Holdings Pty Ltd - Australia
- Africa Commodities Group - South Africa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Independent Power Producers Association of India
- Videocon Industries ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Wilmar Investment Holdings
- Bangladesh Power Developement Board
- Vijayanagar Sugar Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Global Green Power PLC Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Parry Sugars Refinery, India
- Power Finance Corporation Ltd., India
- Indian Oil Corporation Limited
- McConnell Dowell - Australia
- Savvy Resources Ltd - HongKong
- Bank of Tokyo Mitsubishi UFJ Ltd
- London Commodity Brokers - England
- Posco Energy - South Korea
- Xindia Steels Limited - India
- The State Trading Corporation of India Ltd
- Directorate Of Revenue Intelligence - India
- Kepco SPC Power Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Kartika Selabumi Mining - Indonesia
- Tata Chemicals Ltd - India
- Altura Mining Limited, Indonesia
- Ministry of Finance - Indonesia
- Mercuria Energy - Indonesia
- Mercator Lines Limited - India
- Mjunction Services Limited - India
- Lanco Infratech Ltd - India
- Singapore Mercantile Exchange
- PetroVietnam Power Coal Import and Supply Company
- Larsen & Toubro Limited - India
- Toyota Tsusho Corporation, Japan
- Kaltim Prima Coal - Indonesia
- Bhushan Steel Limited - India
- Straits Asia Resources Limited - Singapore
- Electricity Authority, New Zealand
- New Zealand Coal & Carbon
- Price Waterhouse Coopers - Russia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sindya Power Generating Company Private Ltd
- Siam City Cement PLC, Thailand
- Parliament of New Zealand
- Petrochimia International Co. Ltd.- Taiwan
- Latin American Coal - Colombia
- Antam Resourcindo - Indonesia
- Borneo Indobara - Indonesia
- Kobexindo Tractors - Indoneisa
- Malabar Cements Ltd - India
- Australian Commodity Traders Exchange
- Kohat Cement Company Ltd. - Pakistan
- Leighton Contractors Pty Ltd - Australia
- Energy Development Corp, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Vedanta Resources Plc - India
- Maharashtra Electricity Regulatory Commission - India
- Simpson Spence & Young - Indonesia
- Sakthi Sugars Limited - India
- Therma Luzon, Inc, Philippines
- Mintek Dendrill Indonesia
- Bulk Trading Sa - Switzerland
- Directorate General of MIneral and Coal - Indonesia
- Agrawal Coal Company - India
- White Energy Company Limited
- Formosa Plastics Group - Taiwan
- Interocean Group of Companies - India
- Kumho Petrochemical, South Korea
- Global Coal Blending Company Limited - Australia
- Manunggal Multi Energi - Indonesia
- Thai Mozambique Logistica
- Cigading International Bulk Terminal - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- IHS Mccloskey Coal Group - USA
- Pipit Mutiara Jaya. PT, Indonesia
- Riau Bara Harum - Indonesia
- Globalindo Alam Lestari - Indonesia
- Banpu Public Company Limited - Thailand
- Kapuas Tunggal Persada - Indonesia
- Bukit Baiduri Energy - Indonesia
- Minerals Council of Australia
- Coal and Oil Company - UAE
- Heidelberg Cement - Germany
- Kideco Jaya Agung - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Renaissance Capital - South Africa
- Eastern Energy - Thailand
- Chettinad Cement Corporation Ltd - India
- Barasentosa Lestari - Indonesia
- India Bulls Power Limited - India
- Global Business Power Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Central Electricity Authority - India
- CNBM International Corporation - China
- Commonwealth Bank - Australia
- IEA Clean Coal Centre - UK
- Bharathi Cement Corporation - India
- Standard Chartered Bank - UAE
- Samtan Co., Ltd - South Korea
- Iligan Light & Power Inc, Philippines
- GVK Power & Infra Limited - India
- Orica Mining Services - Indonesia
- Trasteel International SA, Italy
- TNB Fuel Sdn Bhd - Malaysia
- Bayan Resources Tbk. - Indonesia
- Metalloyd Limited - United Kingdom
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