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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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Tuesday, 19 February 19
AUSTRALIA'S COAL FUTURE UNDER THREAT AS MORE CHANGES HIT FOSSIL FUELS GLOBALLY - ABC
Two disparate decisions from opposite corners of the world have sounded warnings for the future of Australia’s coal industry.
...
Tuesday, 19 February 19
FAST DEPLETING COAL RESERVES COULD PUSH UP ENERGY PRICES, CAUTIONS EXPERT - THE HINDU BUSINESS LINE
The fast depletion of coal, a strategic resource and India’s fuel of choice currently, has huge implications for energy costs, according to K ...
Monday, 18 February 19
INDIA'S COAL IMPORT FALLS TO 17.25 MT IN JANUARY - PTI
Coal imports saw a decline in January FY 2019 to 17.25 MT from 19.59 MT in the same month of the previous fiscal, according to a report by mjunctio ...
Monday, 18 February 19
THE ROLE OF COAL IN INDIA'S ENERGY AMBITIONS - WCA
India is the world’s second most populous country and figures among the world’s most rapidly growing economies.
The Sout ...
Saturday, 16 February 19
COALTRANS CHINA 2019, CHINA'S LARGEST COAL INDUSTRY GATHERING
Press Release: Coaltrans China 2019 | With the import ban likely to be lifted, it’s time for you to meet your potentia ...
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- Africa Commodities Group - South Africa
- Mercator Lines Limited - India
- Thai Mozambique Logistica
- Asmin Koalindo Tuhup - Indonesia
- PowerSource Philippines DevCo
- Bahari Cakrawala Sebuku - Indonesia
- Indogreen Group - Indonesia
- Standard Chartered Bank - UAE
- Riau Bara Harum - Indonesia
- Mjunction Services Limited - India
- Meenaskhi Energy Private Limited - India
- Chettinad Cement Corporation Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- TNB Fuel Sdn Bhd - Malaysia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Malabar Cements Ltd - India
- Vedanta Resources Plc - India
- Sarangani Energy Corporation, Philippines
- Coalindo Energy - Indonesia
- Intertek Mineral Services - Indonesia
- Minerals Council of Australia
- Grasim Industreis Ltd - India
- Xindia Steels Limited - India
- Manunggal Multi Energi - Indonesia
- New Zealand Coal & Carbon
- Billiton Holdings Pty Ltd - Australia
- Kalimantan Lumbung Energi - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Altura Mining Limited, Indonesia
- Ministry of Finance - Indonesia
- Essar Steel Hazira Ltd - India
- Directorate Of Revenue Intelligence - India
- Kumho Petrochemical, South Korea
- Madhucon Powers Ltd - India
- International Coal Ventures Pvt Ltd - India
- Merrill Lynch Commodities Europe
- Latin American Coal - Colombia
- Formosa Plastics Group - Taiwan
- Siam City Cement PLC, Thailand
- Miang Besar Coal Terminal - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Coastal Gujarat Power Limited - India
- Chamber of Mines of South Africa
- OPG Power Generation Pvt Ltd - India
- Makarim & Taira - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Central Electricity Authority - India
- Planning Commission, India
- Ambuja Cements Ltd - India
- The State Trading Corporation of India Ltd
- Mercuria Energy - Indonesia
- PTC India Limited - India
- Sree Jayajothi Cements Limited - India
- Samtan Co., Ltd - South Korea
- Rashtriya Ispat Nigam Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- Banpu Public Company Limited - Thailand
- Cigading International Bulk Terminal - Indonesia
- Siam City Cement - Thailand
- CIMB Investment Bank - Malaysia
- CNBM International Corporation - China
- Kapuas Tunggal Persada - Indonesia
- VISA Power Limited - India
- Orica Mining Services - Indonesia
- Binh Thuan Hamico - Vietnam
- GAC Shipping (India) Pvt Ltd
- Karaikal Port Pvt Ltd - India
- Wood Mackenzie - Singapore
- Barasentosa Lestari - Indonesia
- Jindal Steel & Power Ltd - India
- GMR Energy Limited - India
- Global Green Power PLC Corporation, Philippines
- Larsen & Toubro Limited - India
- Tata Chemicals Ltd - India
- Star Paper Mills Limited - India
- Petron Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- Timah Investasi Mineral - Indoneisa
- The Treasury - Australian Government
- Electricity Generating Authority of Thailand
- Oldendorff Carriers - Singapore
- Bulk Trading Sa - Switzerland
- Dalmia Cement Bharat India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Interocean Group of Companies - India
- Deloitte Consulting - India
- Tamil Nadu electricity Board
- Trasteel International SA, Italy
- Meralco Power Generation, Philippines
- SMC Global Power, Philippines
- Kideco Jaya Agung - Indonesia
- San Jose City I Power Corp, Philippines
- Agrawal Coal Company - India
- Lanco Infratech Ltd - India
- Eastern Coal Council - USA
- GVK Power & Infra Limited - India
- LBH Netherlands Bv - Netherlands
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Energy Link Ltd, New Zealand
- Holcim Trading Pte Ltd - Singapore
- Romanian Commodities Exchange
- Vizag Seaport Private Limited - India
- Bhatia International Limited - India
- Power Finance Corporation Ltd., India
- Commonwealth Bank - Australia
- Pendopo Energi Batubara - Indonesia
- Marubeni Corporation - India
- Sical Logistics Limited - India
- Aditya Birla Group - India
- Renaissance Capital - South Africa
- Therma Luzon, Inc, Philippines
- Toyota Tsusho Corporation, Japan
- Global Coal Blending Company Limited - Australia
- Ministry of Mines - Canada
- Indika Energy - Indonesia
- Kartika Selabumi Mining - Indonesia
- Global Business Power Corporation, Philippines
- Indonesian Coal Mining Association
- Kohat Cement Company Ltd. - Pakistan
- Krishnapatnam Port Company Ltd. - India
- Georgia Ports Authority, United States
- Goldman Sachs - Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- Carbofer General Trading SA - India
- Australian Coal Association
- Borneo Indobara - Indonesia
- Iligan Light & Power Inc, Philippines
- AsiaOL BioFuels Corp., Philippines
- Attock Cement Pakistan Limited
- Port Waratah Coal Services - Australia
- Globalindo Alam Lestari - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Coal and Oil Company - UAE
- Thiess Contractors Indonesia
- Neyveli Lignite Corporation Ltd, - India
- PetroVietnam Power Coal Import and Supply Company
- Sojitz Corporation - Japan
- Eastern Energy - Thailand
- Kobexindo Tractors - Indoneisa
- South Luzon Thermal Energy Corporation
- Simpson Spence & Young - Indonesia
- Cement Manufacturers Association - India
- Straits Asia Resources Limited - Singapore
- Semirara Mining and Power Corporation, Philippines
- Jaiprakash Power Ventures ltd
- McConnell Dowell - Australia
- SN Aboitiz Power Inc, Philippines
- India Bulls Power Limited - India
- GN Power Mariveles Coal Plant, Philippines
- White Energy Company Limited
- IHS Mccloskey Coal Group - USA
- Karbindo Abesyapradhi - Indoneisa
- IEA Clean Coal Centre - UK
- Videocon Industries ltd - India
- Maheswari Brothers Coal Limited - India
- Rio Tinto Coal - Australia
- Indian Energy Exchange, India
- SMG Consultants - Indonesia
- Metalloyd Limited - United Kingdom
- Energy Development Corp, Philippines
- Economic Council, Georgia
- Bukit Makmur.PT - Indonesia
- Bhushan Steel Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Indian Oil Corporation Limited
- PNOC Exploration Corporation - Philippines
- Indo Tambangraya Megah - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sindya Power Generating Company Private Ltd
- Kaltim Prima Coal - Indonesia
- Ind-Barath Power Infra Limited - India
- Ministry of Transport, Egypt
- Ceylon Electricity Board - Sri Lanka
- Mintek Dendrill Indonesia
- Electricity Authority, New Zealand
- Independent Power Producers Association of India
- Sakthi Sugars Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Semirara Mining Corp, Philippines
- The University of Queensland
- Gujarat Electricity Regulatory Commission - India
- Bukit Baiduri Energy - Indonesia
- Posco Energy - South Korea
- Price Waterhouse Coopers - Russia
- London Commodity Brokers - England
- Bhoruka Overseas - Indonesia
- Kepco SPC Power Corporation, Philippines
- Edison Trading Spa - Italy
- ASAPP Information Group - India
- European Bulk Services B.V. - Netherlands
- MS Steel International - UAE
- ICICI Bank Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Bayan Resources Tbk. - Indonesia
- Bharathi Cement Corporation - India
- Parliament of New Zealand
- Bukit Asam (Persero) Tbk - Indonesia
- TeaM Sual Corporation - Philippines
- Central Java Power - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Uttam Galva Steels Limited - India
- Antam Resourcindo - Indonesia
- Anglo American - United Kingdom
- Bangladesh Power Developement Board
- Baramulti Group, Indonesia
- Heidelberg Cement - Germany
- Medco Energi Mining Internasional
- Orica Australia Pty. Ltd.
- Parry Sugars Refinery, India
- Gujarat Sidhee Cement - India
- Australian Commodity Traders Exchange
- Salva Resources Pvt Ltd - India
- Wilmar Investment Holdings
- Singapore Mercantile Exchange
- Alfred C Toepfer International GmbH - Germany
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