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.
|
|
Wednesday, 10 April 19
KOSPO INVITED BIDS FOR 160K MT OF MIN. 3700 NCV COAL FOR JUNE LOADING
COALspot.com: South Korea state-owned utility Korea Southern Power Co. Ltd (KOSPO) issued a tender for 160,000 MT of min. 3,800 Kcal/kg ~max.4,100 ...
Wednesday, 10 April 19
CHINA'S GROWING THERMAL COAL SUPPLY TO PRESSURE EXPORTERS - FITCH RATINGS
Growing Chinese thermal coal supply is likely to lead to further tightening of import controls by the government, putting pressure on seaborne coal ...
Wednesday, 10 April 19
SHIPPING MARKET INSIGHT - INTERMODAL
The tragedy in Brazil’s Vale Brumadinho where a tailings dam collapsed in January ranks among the world’s worst mining disasters. It co ...
Monday, 08 April 19
5TH INDIA NUCLEAR NEW BUILD CONGRESS 2019
5th India Nuclear New Build Congress 2019
The congress in Mumbai aims to bring together representatives from governments, regulators ...
Monday, 08 April 19
THERMAL COAL PRICES FALL, INDIAN POWER PLANTS TO SEE LIMITED GAINS - BUSINESS STANDARD
Thermal coal prices are on a downward spiral globally. Australian coal prices have fallen nearly 20 per cent in the past week, and 40 per cent from ...
|
|
|
Showing 1426 to 1430 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Vedanta Resources Plc - India
- Renaissance Capital - South Africa
- Cigading International Bulk Terminal - Indonesia
- SN Aboitiz Power Inc, Philippines
- Electricity Generating Authority of Thailand
- Petrochimia International Co. Ltd.- Taiwan
- Ind-Barath Power Infra Limited - India
- Australian Commodity Traders Exchange
- Posco Energy - South Korea
- Rio Tinto Coal - Australia
- Globalindo Alam Lestari - Indonesia
- Meralco Power Generation, Philippines
- Marubeni Corporation - India
- Orica Australia Pty. Ltd.
- Interocean Group of Companies - India
- Barasentosa Lestari - Indonesia
- VISA Power Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Alfred C Toepfer International GmbH - Germany
- GN Power Mariveles Coal Plant, Philippines
- Eastern Energy - Thailand
- Trasteel International SA, Italy
- Dalmia Cement Bharat India
- Bharathi Cement Corporation - India
- Asmin Koalindo Tuhup - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Minerals Council of Australia
- Borneo Indobara - Indonesia
- GMR Energy Limited - India
- New Zealand Coal & Carbon
- Billiton Holdings Pty Ltd - Australia
- Medco Energi Mining Internasional
- Semirara Mining and Power Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- Heidelberg Cement - Germany
- Anglo American - United Kingdom
- Malabar Cements Ltd - India
- Sical Logistics Limited - India
- Romanian Commodities Exchange
- Star Paper Mills Limited - India
- Central Electricity Authority - India
- Bhatia International Limited - India
- Indian Energy Exchange, India
- Thai Mozambique Logistica
- Miang Besar Coal Terminal - Indonesia
- Sinarmas Energy and Mining - Indonesia
- ICICI Bank Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sojitz Corporation - Japan
- Sakthi Sugars Limited - India
- Lanco Infratech Ltd - India
- London Commodity Brokers - England
- Attock Cement Pakistan Limited
- Chamber of Mines of South Africa
- Bukit Asam (Persero) Tbk - Indonesia
- Indian Oil Corporation Limited
- Bangladesh Power Developement Board
- Kepco SPC Power Corporation, Philippines
- Agrawal Coal Company - India
- Indogreen Group - Indonesia
- Latin American Coal - Colombia
- Mintek Dendrill Indonesia
- Energy Link Ltd, New Zealand
- Bulk Trading Sa - Switzerland
- Leighton Contractors Pty Ltd - Australia
- PetroVietnam Power Coal Import and Supply Company
- AsiaOL BioFuels Corp., Philippines
- Aditya Birla Group - India
- SMC Global Power, Philippines
- Merrill Lynch Commodities Europe
- Samtan Co., Ltd - South Korea
- Jorong Barutama Greston.PT - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Coalindo Energy - Indonesia
- India Bulls Power Limited - India
- Metalloyd Limited - United Kingdom
- Mercator Lines Limited - India
- The Treasury - Australian Government
- Bahari Cakrawala Sebuku - Indonesia
- ASAPP Information Group - India
- Maheswari Brothers Coal Limited - India
- TeaM Sual Corporation - Philippines
- Planning Commission, India
- Thiess Contractors Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Georgia Ports Authority, United States
- Manunggal Multi Energi - Indonesia
- Global Business Power Corporation, Philippines
- Goldman Sachs - Singapore
- LBH Netherlands Bv - Netherlands
- TNB Fuel Sdn Bhd - Malaysia
- Singapore Mercantile Exchange
- Pipit Mutiara Jaya. PT, Indonesia
- Jindal Steel & Power Ltd - India
- CIMB Investment Bank - Malaysia
- Tata Chemicals Ltd - India
- Indika Energy - Indonesia
- Siam City Cement PLC, Thailand
- Essar Steel Hazira Ltd - India
- Chettinad Cement Corporation Ltd - India
- White Energy Company Limited
- Mercuria Energy - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- McConnell Dowell - Australia
- Ministry of Mines - Canada
- The State Trading Corporation of India Ltd
- Salva Resources Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- Energy Development Corp, Philippines
- Eastern Coal Council - USA
- Wilmar Investment Holdings
- The University of Queensland
- Timah Investasi Mineral - Indoneisa
- International Coal Ventures Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- Indonesian Coal Mining Association
- IHS Mccloskey Coal Group - USA
- Madhucon Powers Ltd - India
- Pendopo Energi Batubara - Indonesia
- Central Java Power - Indonesia
- Savvy Resources Ltd - HongKong
- Grasim Industreis Ltd - India
- Indo Tambangraya Megah - Indonesia
- Price Waterhouse Coopers - Russia
- Directorate Of Revenue Intelligence - India
- Xindia Steels Limited - India
- Baramulti Group, Indonesia
- Formosa Plastics Group - Taiwan
- Australian Coal Association
- Intertek Mineral Services - Indonesia
- Videocon Industries ltd - India
- Deloitte Consulting - India
- Kideco Jaya Agung - Indonesia
- Aboitiz Power Corporation - Philippines
- PowerSource Philippines DevCo
- Vizag Seaport Private Limited - India
- Cement Manufacturers Association - India
- GAC Shipping (India) Pvt Ltd
- Kartika Selabumi Mining - Indonesia
- Kumho Petrochemical, South Korea
- Parliament of New Zealand
- Bukit Baiduri Energy - Indonesia
- Ministry of Finance - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Straits Asia Resources Limited - Singapore
- Larsen & Toubro Limited - India
- Bukit Makmur.PT - Indonesia
- Tamil Nadu electricity Board
- IEA Clean Coal Centre - UK
- Sindya Power Generating Company Private Ltd
- Kalimantan Lumbung Energi - Indonesia
- Toyota Tsusho Corporation, Japan
- Makarim & Taira - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Petron Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Parry Sugars Refinery, India
- PNOC Exploration Corporation - Philippines
- Simpson Spence & Young - Indonesia
- Meenaskhi Energy Private Limited - India
- Antam Resourcindo - Indonesia
- Orica Mining Services - Indonesia
- Power Finance Corporation Ltd., India
- Bhoruka Overseas - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Port Waratah Coal Services - Australia
- Carbofer General Trading SA - India
- Kobexindo Tractors - Indoneisa
- Coastal Gujarat Power Limited - India
- Independent Power Producers Association of India
- Altura Mining Limited, Indonesia
- PTC India Limited - India
- European Bulk Services B.V. - Netherlands
- Binh Thuan Hamico - Vietnam
- Uttam Galva Steels Limited - India
- Therma Luzon, Inc, Philippines
- Siam City Cement - Thailand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Karaikal Port Pvt Ltd - India
- MS Steel International - UAE
- Karbindo Abesyapradhi - Indoneisa
- Riau Bara Harum - Indonesia
- Standard Chartered Bank - UAE
- Sree Jayajothi Cements Limited - India
- Rashtriya Ispat Nigam Limited - India
- Holcim Trading Pte Ltd - Singapore
- South Luzon Thermal Energy Corporation
- Maharashtra Electricity Regulatory Commission - India
- Semirara Mining Corp, Philippines
- Banpu Public Company Limited - Thailand
- Kohat Cement Company Ltd. - Pakistan
- Africa Commodities Group - South Africa
- CNBM International Corporation - China
- SMG Consultants - Indonesia
- Wood Mackenzie - Singapore
- Bayan Resources Tbk. - Indonesia
- Commonwealth Bank - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Gujarat Sidhee Cement - India
- Krishnapatnam Port Company Ltd. - India
- Electricity Authority, New Zealand
- Edison Trading Spa - Italy
- GVK Power & Infra Limited - India
- Ministry of Transport, Egypt
- Oldendorff Carriers - Singapore
- Mjunction Services Limited - India
- Bhushan Steel Limited - India
- Ambuja Cements Ltd - India
- Kaltim Prima Coal - Indonesia
- Global Coal Blending Company Limited - Australia
- Directorate General of MIneral and Coal - Indonesia
- Economic Council, Georgia
- Sarangani Energy Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Coal and Oil Company - UAE
- San Jose City I Power Corp, Philippines
|
| |
| |
|
