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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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Thursday, 21 June 18
ROBUST ASIAN THERMAL COAL DEMAND CREATES OPPORTUNITIES FOR AUSTRALIA - MINERALS COUNCIL OF AUSTRALIA
Minerals Council of Australia reported, Australia’s world-class coal mining industry can create more jobs in Australia and strengthen t ...
Thursday, 21 June 18
CHINESE REDUCED COAL IMPORT RESTRICTIONS - CAIXIN GLOBAL
Caixin Global reported that the Chinese government has reduced restrictions on coal imports at the nation’s major ports in response to concer ...
Thursday, 21 June 18
INDIAN GOVERNMENT ADMITS COAL SHORTAGE, ASKS DISCOMS TO IMPORT - TIMES OF INDIA
Times of India reported that the power ministry has advised all state governments and private power distribution companies to import coal as Coal I ...
Tuesday, 19 June 18
WCA RESPONDS TO BP STATISTICAL REVIEW OF WORLD ENERGY 2018
Responding to BP’s Statistical Review of World Energy 2018, Benjamin Sporton, Chief Executive of the World Coal Association (WCA) said, &ldqu ...
Wednesday, 13 June 18
U.S. COAL PRODUCTION TO DECLINE BY 2% TO 756 MILLION SHORT TONS MMST IN 2018 - EIA
EIA forecasts U.S. coal production to decline by 2% to 756 million short tons (MMst) in 2018.
According to EIA's Short-Term Ener ...
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- TNB Fuel Sdn Bhd - Malaysia
- Power Finance Corporation Ltd., India
- Kobexindo Tractors - Indoneisa
- Karaikal Port Pvt Ltd - India
- OPG Power Generation Pvt Ltd - India
- Coalindo Energy - Indonesia
- McConnell Dowell - Australia
- Essar Steel Hazira Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Gujarat Sidhee Cement - India
- Jorong Barutama Greston.PT - Indonesia
- SMG Consultants - Indonesia
- Chamber of Mines of South Africa
- Sindya Power Generating Company Private Ltd
- Binh Thuan Hamico - Vietnam
- Sarangani Energy Corporation, Philippines
- Indogreen Group - Indonesia
- Straits Asia Resources Limited - Singapore
- Rashtriya Ispat Nigam Limited - India
- PNOC Exploration Corporation - Philippines
- Dalmia Cement Bharat India
- Xindia Steels Limited - India
- Mercuria Energy - Indonesia
- Economic Council, Georgia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Siam City Cement - Thailand
- Sical Logistics Limited - India
- Vedanta Resources Plc - India
- Petron Corporation, Philippines
- Ministry of Finance - Indonesia
- Madhucon Powers Ltd - India
- London Commodity Brokers - England
- Deloitte Consulting - India
- IEA Clean Coal Centre - UK
- Heidelberg Cement - Germany
- Tamil Nadu electricity Board
- Kalimantan Lumbung Energi - Indonesia
- Aditya Birla Group - India
- Standard Chartered Bank - UAE
- European Bulk Services B.V. - Netherlands
- Independent Power Producers Association of India
- Maheswari Brothers Coal Limited - India
- Krishnapatnam Port Company Ltd. - India
- Mercator Lines Limited - India
- CIMB Investment Bank - Malaysia
- PowerSource Philippines DevCo
- Globalindo Alam Lestari - Indonesia
- Oldendorff Carriers - Singapore
- Miang Besar Coal Terminal - Indonesia
- Orica Mining Services - Indonesia
- Siam City Cement PLC, Thailand
- Renaissance Capital - South Africa
- Bahari Cakrawala Sebuku - Indonesia
- Borneo Indobara - Indonesia
- Pendopo Energi Batubara - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Simpson Spence & Young - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Salva Resources Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indonesian Coal Mining Association
- Thai Mozambique Logistica
- White Energy Company Limited
- Marubeni Corporation - India
- Maharashtra Electricity Regulatory Commission - India
- Parliament of New Zealand
- Ministry of Transport, Egypt
- Eastern Coal Council - USA
- Meralco Power Generation, Philippines
- Bharathi Cement Corporation - India
- Coal and Oil Company - UAE
- Bukit Baiduri Energy - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Malabar Cements Ltd - India
- Mjunction Services Limited - India
- Georgia Ports Authority, United States
- Meenaskhi Energy Private Limited - India
- TeaM Sual Corporation - Philippines
- Videocon Industries ltd - India
- Antam Resourcindo - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- GMR Energy Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Attock Cement Pakistan Limited
- Bhoruka Overseas - Indonesia
- Uttam Galva Steels Limited - India
- Therma Luzon, Inc, Philippines
- Latin American Coal - Colombia
- Orica Australia Pty. Ltd.
- The University of Queensland
- Parry Sugars Refinery, India
- Planning Commission, India
- New Zealand Coal & Carbon
- Semirara Mining Corp, Philippines
- Indian Energy Exchange, India
- Interocean Group of Companies - India
- Billiton Holdings Pty Ltd - Australia
- Sojitz Corporation - Japan
- Sinarmas Energy and Mining - Indonesia
- Romanian Commodities Exchange
- Bhatia International Limited - India
- Savvy Resources Ltd - HongKong
- India Bulls Power Limited - India
- Agrawal Coal Company - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Barasentosa Lestari - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Riau Bara Harum - Indonesia
- Trasteel International SA, Italy
- Star Paper Mills Limited - India
- Global Green Power PLC Corporation, Philippines
- Bangladesh Power Developement Board
- Wood Mackenzie - Singapore
- Indian Oil Corporation Limited
- Manunggal Multi Energi - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Kideco Jaya Agung - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Cement Manufacturers Association - India
- Electricity Generating Authority of Thailand
- Bulk Trading Sa - Switzerland
- SMC Global Power, Philippines
- AsiaOL BioFuels Corp., Philippines
- Singapore Mercantile Exchange
- The State Trading Corporation of India Ltd
- Kumho Petrochemical, South Korea
- Sree Jayajothi Cements Limited - India
- Ministry of Mines - Canada
- Kapuas Tunggal Persada - Indonesia
- Posco Energy - South Korea
- Makarim & Taira - Indonesia
- VISA Power Limited - India
- Coastal Gujarat Power Limited - India
- Bayan Resources Tbk. - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Larsen & Toubro Limited - India
- PTC India Limited - India
- Africa Commodities Group - South Africa
- Kohat Cement Company Ltd. - Pakistan
- Kaltim Prima Coal - Indonesia
- Sakthi Sugars Limited - India
- Australian Coal Association
- ICICI Bank Limited - India
- Central Java Power - Indonesia
- Samtan Co., Ltd - South Korea
- Formosa Plastics Group - Taiwan
- Energy Development Corp, Philippines
- Wilmar Investment Holdings
- Bhushan Steel Limited - India
- Banpu Public Company Limited - Thailand
- South Luzon Thermal Energy Corporation
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bukit Makmur.PT - Indonesia
- Chettinad Cement Corporation Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- Toyota Tsusho Corporation, Japan
- Gujarat Mineral Development Corp Ltd - India
- Thiess Contractors Indonesia
- Ambuja Cements Ltd - India
- Indika Energy - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- The Treasury - Australian Government
- Lanco Infratech Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Metalloyd Limited - United Kingdom
- Carbofer General Trading SA - India
- Pipit Mutiara Jaya. PT, Indonesia
- IHS Mccloskey Coal Group - USA
- Eastern Energy - Thailand
- Electricity Authority, New Zealand
- SN Aboitiz Power Inc, Philippines
- Iligan Light & Power Inc, Philippines
- Mintek Dendrill Indonesia
- Ceylon Electricity Board - Sri Lanka
- Global Coal Blending Company Limited - Australia
- GVK Power & Infra Limited - India
- Vizag Seaport Private Limited - India
- Jindal Steel & Power Ltd - India
- Edison Trading Spa - Italy
- Altura Mining Limited, Indonesia
- Intertek Mineral Services - Indonesia
- CNBM International Corporation - China
- Rio Tinto Coal - Australia
- Price Waterhouse Coopers - Russia
- Goldman Sachs - Singapore
- Port Waratah Coal Services - Australia
- GAC Shipping (India) Pvt Ltd
- Timah Investasi Mineral - Indoneisa
- Grasim Industreis Ltd - India
- Kepco SPC Power Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- San Jose City I Power Corp, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Offshore Bulk Terminal Pte Ltd, Singapore
- Baramulti Group, Indonesia
- International Coal Ventures Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- Tata Chemicals Ltd - India
- Jaiprakash Power Ventures ltd
- Merrill Lynch Commodities Europe
- Australian Commodity Traders Exchange
- Indo Tambangraya Megah - Indonesia
- MS Steel International - UAE
- Vijayanagar Sugar Pvt Ltd - India
- Minerals Council of Australia
- Anglo American - United Kingdom
- Energy Link Ltd, New Zealand
- Ind-Barath Power Infra Limited - India
- Commonwealth Bank - Australia
- Medco Energi Mining Internasional
- Central Electricity Authority - India
- ASAPP Information Group - India
- Global Business Power Corporation, Philippines
- Directorate Of Revenue Intelligence - India
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