We welcome article submissions from experts in the areas of coal, mining,
shipping, etc.
To Submit your article please click here.
|
|
|
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.
|
|
Share your
coal and shipping news
|
|
“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 )
If you believe an article violates your rights or the rights of others, please contact us.
|
|
Friday, 24 December 10
DRY BULK OWNERS COULD SOON RECONSIDER SCRAPPING OLDER VESSELS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
With the dry bulk market close to its lowest levels in months and indeed close to 2010 lows, ship owners could be heading towards scrapyards in a bi ...
Thursday, 23 December 10
SOUTHGOBI RESOURCES CLOSES STRATEGIC INVESTMENT IN ASPIRE MINING LIMITED
Press Release – SouthGobi Resources Ltd. (TSX: SGQ, HK: 1878), announced today that it has completed the private placement with Aspire Mining ...
Thursday, 23 December 10
CESC EYES COAL MINES IN INDONESIA, S AFRICA - TEHELKA
Company has already set a target of adding 6,000 MW power generation by the end of the 12th Plan in 2017
Tehelka reported that, CESC Ltd, the fla ...
Thursday, 23 December 10
SANTA CLAUSE DID NOT COME EARLY THIS YEAR - FEARNBULK
Handy
Not much fresh enquiry this week and quite dead in Bl.Sea/Med. Nevertheless ...
Thursday, 23 December 10
STERLITE ENERGY LIMITED TO BUY 0.6 MLN MT OF COAL FOR 2011
COALspot.com - Sterlite Energy Limited (SEL) is a part of Vedanta Resources plc , a London listed FTSE 100 diversified metals and mining major with ...
|
|
|
Showing 5471 to 5475 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Renaissance Capital - South Africa
- Ministry of Finance - Indonesia
- GMR Energy Limited - India
- Mercator Lines Limited - India
- Siam City Cement PLC, Thailand
- GN Power Mariveles Coal Plant, Philippines
- CIMB Investment Bank - Malaysia
- CNBM International Corporation - China
- Electricity Authority, New Zealand
- Economic Council, Georgia
- Riau Bara Harum - Indonesia
- Merrill Lynch Commodities Europe
- Formosa Plastics Group - Taiwan
- Ministry of Mines - Canada
- Attock Cement Pakistan Limited
- Indika Energy - Indonesia
- Minerals Council of Australia
- Central Java Power - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Kapuas Tunggal Persada - Indonesia
- London Commodity Brokers - England
- Toyota Tsusho Corporation, Japan
- Singapore Mercantile Exchange
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sakthi Sugars Limited - India
- Commonwealth Bank - Australia
- Intertek Mineral Services - Indonesia
- Madhucon Powers Ltd - India
- Dalmia Cement Bharat India
- South Luzon Thermal Energy Corporation
- Bhushan Steel Limited - India
- Semirara Mining and Power Corporation, Philippines
- San Jose City I Power Corp, Philippines
- McConnell Dowell - Australia
- Karbindo Abesyapradhi - Indoneisa
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kartika Selabumi Mining - Indonesia
- Eastern Coal Council - USA
- Sindya Power Generating Company Private Ltd
- Makarim & Taira - Indonesia
- Rio Tinto Coal - Australia
- Parry Sugars Refinery, India
- Metalloyd Limited - United Kingdom
- Africa Commodities Group - South Africa
- Wilmar Investment Holdings
- Deloitte Consulting - India
- IEA Clean Coal Centre - UK
- Electricity Generating Authority of Thailand
- Videocon Industries ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Indian Oil Corporation Limited
- Indonesian Coal Mining Association
- Cement Manufacturers Association - India
- Latin American Coal - Colombia
- Anglo American - United Kingdom
- Directorate General of MIneral and Coal - Indonesia
- Oldendorff Carriers - Singapore
- Rashtriya Ispat Nigam Limited - India
- Standard Chartered Bank - UAE
- Meenaskhi Energy Private Limited - India
- Georgia Ports Authority, United States
- Independent Power Producers Association of India
- Indo Tambangraya Megah - Indonesia
- Australian Commodity Traders Exchange
- Coastal Gujarat Power Limited - India
- Bhoruka Overseas - Indonesia
- Orica Australia Pty. Ltd.
- VISA Power Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Edison Trading Spa - Italy
- Ambuja Cements Ltd - India
- Simpson Spence & Young - Indonesia
- Kobexindo Tractors - Indoneisa
- Thiess Contractors Indonesia
- Interocean Group of Companies - India
- India Bulls Power Limited - India
- Wood Mackenzie - Singapore
- Altura Mining Limited, Indonesia
- Kepco SPC Power Corporation, Philippines
- Marubeni Corporation - India
- Global Green Power PLC Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- Bahari Cakrawala Sebuku - Indonesia
- Eastern Energy - Thailand
- The State Trading Corporation of India Ltd
- Holcim Trading Pte Ltd - Singapore
- Agrawal Coal Company - India
- Kideco Jaya Agung - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Petrochimia International Co. Ltd.- Taiwan
- White Energy Company Limited
- Indogreen Group - Indonesia
- PNOC Exploration Corporation - Philippines
- Maharashtra Electricity Regulatory Commission - India
- Australian Coal Association
- OPG Power Generation Pvt Ltd - India
- Siam City Cement - Thailand
- Medco Energi Mining Internasional
- Malabar Cements Ltd - India
- Global Coal Blending Company Limited - Australia
- Price Waterhouse Coopers - Russia
- Bangladesh Power Developement Board
- Kumho Petrochemical, South Korea
- Maheswari Brothers Coal Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Pendopo Energi Batubara - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Ind-Barath Power Infra Limited - India
- Ceylon Electricity Board - Sri Lanka
- Billiton Holdings Pty Ltd - Australia
- Bukit Makmur.PT - Indonesia
- Barasentosa Lestari - Indonesia
- ICICI Bank Limited - India
- SMG Consultants - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Baramulti Group, Indonesia
- Sree Jayajothi Cements Limited - India
- Heidelberg Cement - Germany
- Aboitiz Power Corporation - Philippines
- The University of Queensland
- ASAPP Information Group - India
- Iligan Light & Power Inc, Philippines
- PTC India Limited - India
- Leighton Contractors Pty Ltd - Australia
- Goldman Sachs - Singapore
- Sojitz Corporation - Japan
- LBH Netherlands Bv - Netherlands
- Ministry of Transport, Egypt
- Gujarat Electricity Regulatory Commission - India
- Straits Asia Resources Limited - Singapore
- Power Finance Corporation Ltd., India
- Timah Investasi Mineral - Indoneisa
- Jorong Barutama Greston.PT - Indonesia
- Salva Resources Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- Mjunction Services Limited - India
- Bharathi Cement Corporation - India
- Uttam Galva Steels Limited - India
- Orica Mining Services - Indonesia
- Vedanta Resources Plc - India
- New Zealand Coal & Carbon
- Chettinad Cement Corporation Ltd - India
- Central Electricity Authority - India
- Romanian Commodities Exchange
- AsiaOL BioFuels Corp., Philippines
- Global Business Power Corporation, Philippines
- Thai Mozambique Logistica
- Grasim Industreis Ltd - India
- SN Aboitiz Power Inc, Philippines
- International Coal Ventures Pvt Ltd - India
- Coalindo Energy - Indonesia
- Gujarat Sidhee Cement - India
- Petron Corporation, Philippines
- Tamil Nadu electricity Board
- Star Paper Mills Limited - India
- MS Steel International - UAE
- Meralco Power Generation, Philippines
- Coal and Oil Company - UAE
- Sarangani Energy Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Kalimantan Lumbung Energi - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Xindia Steels Limited - India
- Sical Logistics Limited - India
- Samtan Co., Ltd - South Korea
- Carbofer General Trading SA - India
- Essar Steel Hazira Ltd - India
- Tata Chemicals Ltd - India
- Lanco Infratech Ltd - India
- Bulk Trading Sa - Switzerland
- Therma Luzon, Inc, Philippines
- Miang Besar Coal Terminal - Indonesia
- Larsen & Toubro Limited - India
- Cigading International Bulk Terminal - Indonesia
- Globalindo Alam Lestari - Indonesia
- Directorate Of Revenue Intelligence - India
- Bayan Resources Tbk. - Indonesia
- Energy Development Corp, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Savvy Resources Ltd - HongKong
- Semirara Mining Corp, Philippines
- Bhatia International Limited - India
- Mercuria Energy - Indonesia
- PowerSource Philippines DevCo
- Planning Commission, India
- Trasteel International SA, Italy
- Kaltim Prima Coal - Indonesia
- TeaM Sual Corporation - Philippines
- Jaiprakash Power Ventures ltd
- Mintek Dendrill Indonesia
- Aditya Birla Group - India
- Pipit Mutiara Jaya. PT, Indonesia
- Energy Link Ltd, New Zealand
- Karaikal Port Pvt Ltd - India
- Parliament of New Zealand
- Jindal Steel & Power Ltd - India
- The Treasury - Australian Government
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- SMC Global Power, Philippines
- Vizag Seaport Private Limited - India
- Indian Energy Exchange, India
- Banpu Public Company Limited - Thailand
- TNB Fuel Sdn Bhd - Malaysia
- GAC Shipping (India) Pvt Ltd
- Port Waratah Coal Services - Australia
- GVK Power & Infra Limited - India
- Manunggal Multi Energi - Indonesia
- Borneo Indobara - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Chamber of Mines of South Africa
- Vijayanagar Sugar Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- Posco Energy - South Korea
- Antam Resourcindo - Indonesia
- European Bulk Services B.V. - Netherlands
|
| |
| |
|
