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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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Saturday, 08 January 11
DIFFICULT YEAR FOR SHIPPING - TRANSPORT WEEKLY
Transport Weekly reported that, Shipping Corporation of India (SCI) chairman Sabyasachi Hajara says 2011 will be a difficult year because an excess ...
Saturday, 08 January 11
AUSTRALIAN FLOODS MAY BOOST RIS COAL SALES - THE JAKARTA POST
The Jakarta Post reported that, Floods inundating Queensland have disrupted Australian coal production, and in turn may offer opportunities for Indo ...
Saturday, 08 January 11
GOVERNMENT REMAINS CAUTIOUS OVER FOREIGN INVESTMENT IN MINING SECTOR - THE JAKARTA GLOBE
The Jakarta Globe reported that, The government expects $3.2 billion of investment to flow into the mining sector this year as foreign investors tur ...
Friday, 07 January 11
14 LARGE-SCALE COAL BASES TO BE BUILT DURING 12TH FIVE-YEAR PLAN - GLOBAL TIMES
During the Twelfth Five-Year Plan period (2011-2015), China aims to build 14 large-scale coal bases, and annex and restructure 20 coal bases in orde ...
Friday, 07 January 11
JSW ENERGY LTD OF INDIA IS LOOKING FOR 45 MILLION TONS OF STEAM COAL FOR 25 YEARS
COALspot.com - Supply of 1.80 mmt (+/- 10%) of steam coal per annum for power plants at Toranagallu and Jaigad.
Accordign to JSWE's websit ...
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- Maharashtra Electricity Regulatory Commission - India
- CIMB Investment Bank - Malaysia
- Edison Trading Spa - Italy
- Pendopo Energi Batubara - Indonesia
- Maheswari Brothers Coal Limited - India
- PowerSource Philippines DevCo
- Straits Asia Resources Limited - Singapore
- Ceylon Electricity Board - Sri Lanka
- LBH Netherlands Bv - Netherlands
- Essar Steel Hazira Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Billiton Holdings Pty Ltd - Australia
- Energy Development Corp, Philippines
- SMC Global Power, Philippines
- Simpson Spence & Young - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Toyota Tsusho Corporation, Japan
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- Australian Coal Association
- Altura Mining Limited, Indonesia
- Indian Energy Exchange, India
- The University of Queensland
- MS Steel International - UAE
- McConnell Dowell - Australia
- Aboitiz Power Corporation - Philippines
- Wood Mackenzie - Singapore
- Singapore Mercantile Exchange
- Commonwealth Bank - Australia
- Parry Sugars Refinery, India
- Central Electricity Authority - India
- Kumho Petrochemical, South Korea
- Directorate General of MIneral and Coal - Indonesia
- Chettinad Cement Corporation Ltd - India
- Sree Jayajothi Cements Limited - India
- Savvy Resources Ltd - HongKong
- Pipit Mutiara Jaya. PT, Indonesia
- Parliament of New Zealand
- Port Waratah Coal Services - Australia
- Indian Oil Corporation Limited
- Sindya Power Generating Company Private Ltd
- Anglo American - United Kingdom
- Heidelberg Cement - Germany
- Economic Council, Georgia
- Trasteel International SA, Italy
- The State Trading Corporation of India Ltd
- Formosa Plastics Group - Taiwan
- Videocon Industries ltd - India
- Coastal Gujarat Power Limited - India
- Binh Thuan Hamico - Vietnam
- Antam Resourcindo - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Renaissance Capital - South Africa
- Manunggal Multi Energi - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Mintek Dendrill Indonesia
- Chamber of Mines of South Africa
- Globalindo Alam Lestari - Indonesia
- Samtan Co., Ltd - South Korea
- Star Paper Mills Limited - India
- Bangladesh Power Developement Board
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- Indogreen Group - Indonesia
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- Dong Bac Coal Mineral Investment Coporation - Vietnam
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- Electricity Authority, New Zealand
- Energy Link Ltd, New Zealand
- International Coal Ventures Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Leighton Contractors Pty Ltd - Australia
- Barasentosa Lestari - Indonesia
- Uttam Galva Steels Limited - India
- Cement Manufacturers Association - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Dalmia Cement Bharat India
- Meralco Power Generation, Philippines
- Kartika Selabumi Mining - Indonesia
- Electricity Generating Authority of Thailand
- Banpu Public Company Limited - Thailand
- Coal and Oil Company - UAE
- Kaltim Prima Coal - Indonesia
- Bukit Makmur.PT - Indonesia
- GVK Power & Infra Limited - India
- Interocean Group of Companies - India
- Directorate Of Revenue Intelligence - India
- Deloitte Consulting - India
- Bulk Trading Sa - Switzerland
- GN Power Mariveles Coal Plant, Philippines
- Ambuja Cements Ltd - India
- Indika Energy - Indonesia
- Madhucon Powers Ltd - India
- Vedanta Resources Plc - India
- Sical Logistics Limited - India
- IHS Mccloskey Coal Group - USA
- White Energy Company Limited
- Minerals Council of Australia
- Aditya Birla Group - India
- Ministry of Finance - Indonesia
- Africa Commodities Group - South Africa
- Baramulti Group, Indonesia
- Attock Cement Pakistan Limited
- Therma Luzon, Inc, Philippines
- Malabar Cements Ltd - India
- Ministry of Mines - Canada
- Gujarat Mineral Development Corp Ltd - India
- Intertek Mineral Services - Indonesia
- Kideco Jaya Agung - Indonesia
- Indonesian Coal Mining Association
- AsiaOL BioFuels Corp., Philippines
- Global Coal Blending Company Limited - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Bhatia International Limited - India
- Sojitz Corporation - Japan
- IEA Clean Coal Centre - UK
- Semirara Mining Corp, Philippines
- Bukit Baiduri Energy - Indonesia
- India Bulls Power Limited - India
- Mjunction Services Limited - India
- Riau Bara Harum - Indonesia
- Eastern Energy - Thailand
- London Commodity Brokers - England
- Posco Energy - South Korea
- Kapuas Tunggal Persada - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Metalloyd Limited - United Kingdom
- TeaM Sual Corporation - Philippines
- Jindal Steel & Power Ltd - India
- Carbofer General Trading SA - India
- Eastern Coal Council - USA
- Iligan Light & Power Inc, Philippines
- Karaikal Port Pvt Ltd - India
- Merrill Lynch Commodities Europe
- Sarangani Energy Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- Ministry of Transport, Egypt
- PTC India Limited - India
- Independent Power Producers Association of India
- Price Waterhouse Coopers - Russia
- Borneo Indobara - Indonesia
- Bharathi Cement Corporation - India
- SN Aboitiz Power Inc, Philippines
- Central Java Power - Indonesia
- Global Green Power PLC Corporation, Philippines
- VISA Power Limited - India
- Australian Commodity Traders Exchange
- Mercuria Energy - Indonesia
- Orica Australia Pty. Ltd.
- Oldendorff Carriers - Singapore
- Cigading International Bulk Terminal - Indonesia
- Bhoruka Overseas - Indonesia
- Kepco SPC Power Corporation, Philippines
- Vizag Seaport Private Limited - India
- Jaiprakash Power Ventures ltd
- Jorong Barutama Greston.PT - Indonesia
- Planning Commission, India
- ICICI Bank Limited - India
- Meenaskhi Energy Private Limited - India
- Global Business Power Corporation, Philippines
- Goldman Sachs - Singapore
- PNOC Exploration Corporation - Philippines
- Gujarat Sidhee Cement - India
- Bukit Asam (Persero) Tbk - Indonesia
- San Jose City I Power Corp, Philippines
- Siam City Cement - Thailand
- Holcim Trading Pte Ltd - Singapore
- Standard Chartered Bank - UAE
- Marubeni Corporation - India
- Thai Mozambique Logistica
- Petron Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Salva Resources Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- Siam City Cement PLC, Thailand
- Romanian Commodities Exchange
- GMR Energy Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Latin American Coal - Colombia
- Indo Tambangraya Megah - Indonesia
- CNBM International Corporation - China
- Tata Chemicals Ltd - India
- New Zealand Coal & Carbon
- Georgia Ports Authority, United States
- TNB Fuel Sdn Bhd - Malaysia
- Bahari Cakrawala Sebuku - Indonesia
- ASAPP Information Group - India
- Coalindo Energy - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- The Treasury - Australian Government
- Tamil Nadu electricity Board
- Bhushan Steel Limited - India
- Miang Besar Coal Terminal - Indonesia
- Makarim & Taira - Indonesia
- Power Finance Corporation Ltd., India
- Orica Mining Services - Indonesia
- Lanco Infratech Ltd - India
- Mercator Lines Limited - India
- Xindia Steels Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Grasim Industreis Ltd - India
- Wilmar Investment Holdings
- SMG Consultants - Indonesia
- OPG Power Generation Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Alfred C Toepfer International GmbH - Germany
- Rio Tinto Coal - Australia
- Sinarmas Energy and Mining - Indonesia
- Larsen & Toubro Limited - India
- GAC Shipping (India) Pvt Ltd
- Timah Investasi Mineral - Indoneisa
- South Luzon Thermal Energy Corporation
- Agrawal Coal Company - India
- Medco Energi Mining Internasional
- European Bulk Services B.V. - Netherlands
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