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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 $152 million selling shares in an August IPO.
Source: Bloomberg ( By Jesse Riseborough and Yoga Rusmana )
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Friday, 09 March 18
THE WORLD CANNOT KEEP IGNORING THE ASIAN COAL STORY - BENJAMIN SPORTON
There were significant changes in the global energy system in 2017, including the growth in electric vehicles, the rise of renewables and the conti ...
Friday, 09 March 18
U.S. EXPORTED 97 MMST OF COAL IN 2017, A 61 PER CENT INCREASE FROM 2016 - EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totaled an estimated 15.1 million short tons ...
Thursday, 08 March 18
BUMA SIGNED OVER US$ 500 MILLION WORTH OF NEW CONTRACT WITH PT TANAH BUMBU RESOURCES
PT Delta Dunia Makmur Tbk., announced that its subsidiary, PT Bukit Makmur Mandiri Utama ("BUMA"), has entered into mining services ...
Thursday, 08 March 18
THE ENERGY CONTRIBUTION FROM COAL-BASED POWER PLANTS IS LIKELY TO INCREASE TO 1072 BU BY 2021-22 : PIB
Government of India has set an ambitious target of 175 GW from Renewable energy sources (RES) by 2022, which comprises of 100 GW Solar, 60GW from W ...
Thursday, 08 March 18
SUPRAMAX: THE MARKET IS STILL GOING STRONG IN THE PACIFIC - FEARNLEYS
Supramax
The market is still going strong in the Pacific, with Ultra fixing high US$ 13000+375000 bb for South Africa to ECI while nickel ore run ...
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- Madhucon Powers Ltd - India
- Savvy Resources Ltd - HongKong
- Banpu Public Company Limited - Thailand
- Heidelberg Cement - Germany
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Chamber of Mines of South Africa
- Billiton Holdings Pty Ltd - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Edison Trading Spa - Italy
- Planning Commission, India
- Videocon Industries ltd - India
- Minerals Council of Australia
- Kohat Cement Company Ltd. - Pakistan
- Bharathi Cement Corporation - India
- AsiaOL BioFuels Corp., Philippines
- Manunggal Multi Energi - Indonesia
- Coal and Oil Company - UAE
- Sical Logistics Limited - India
- Jindal Steel & Power Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- SN Aboitiz Power Inc, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Mercuria Energy - Indonesia
- Electricity Generating Authority of Thailand
- PTC India Limited - India
- Bangladesh Power Developement Board
- CIMB Investment Bank - Malaysia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bukit Baiduri Energy - Indonesia
- Sree Jayajothi Cements Limited - India
- Bhatia International Limited - India
- Georgia Ports Authority, United States
- Global Business Power Corporation, Philippines
- Australian Coal Association
- Australian Commodity Traders Exchange
- Indonesian Coal Mining Association
- SMG Consultants - Indonesia
- Chettinad Cement Corporation Ltd - India
- ASAPP Information Group - India
- Borneo Indobara - Indonesia
- Intertek Mineral Services - Indonesia
- Singapore Mercantile Exchange
- Star Paper Mills Limited - India
- Xindia Steels Limited - India
- Ind-Barath Power Infra Limited - India
- Wilmar Investment Holdings
- Aditya Birla Group - India
- The State Trading Corporation of India Ltd
- Carbofer General Trading SA - India
- Altura Mining Limited, Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Leighton Contractors Pty Ltd - Australia
- Attock Cement Pakistan Limited
- GN Power Mariveles Coal Plant, Philippines
- Mercator Lines Limited - India
- Lanco Infratech Ltd - India
- Mjunction Services Limited - India
- Orica Mining Services - Indonesia
- Therma Luzon, Inc, Philippines
- MS Steel International - UAE
- Vijayanagar Sugar Pvt Ltd - India
- Ministry of Transport, Egypt
- Jaiprakash Power Ventures ltd
- Meenaskhi Energy Private Limited - India
- Electricity Authority, New Zealand
- LBH Netherlands Bv - Netherlands
- PetroVietnam Power Coal Import and Supply Company
- GMR Energy Limited - India
- Thai Mozambique Logistica
- Coastal Gujarat Power Limited - India
- Port Waratah Coal Services - Australia
- Energy Development Corp, Philippines
- Bulk Trading Sa - Switzerland
- Latin American Coal - Colombia
- Essar Steel Hazira Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Rio Tinto Coal - Australia
- Salva Resources Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- London Commodity Brokers - England
- Formosa Plastics Group - Taiwan
- Renaissance Capital - South Africa
- Goldman Sachs - Singapore
- Metalloyd Limited - United Kingdom
- International Coal Ventures Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Larsen & Toubro Limited - India
- Antam Resourcindo - Indonesia
- Indian Energy Exchange, India
- Kalimantan Lumbung Energi - Indonesia
- Kumho Petrochemical, South Korea
- Global Green Power PLC Corporation, Philippines
- Posco Energy - South Korea
- IHS Mccloskey Coal Group - USA
- White Energy Company Limited
- Neyveli Lignite Corporation Ltd, - India
- Bhoruka Overseas - Indonesia
- PowerSource Philippines DevCo
- Maheswari Brothers Coal Limited - India
- Ceylon Electricity Board - Sri Lanka
- Vizag Seaport Private Limited - India
- TeaM Sual Corporation - Philippines
- Africa Commodities Group - South Africa
- Cement Manufacturers Association - India
- Directorate Of Revenue Intelligence - India
- Uttam Galva Steels Limited - India
- Indika Energy - Indonesia
- Vedanta Resources Plc - India
- Karbindo Abesyapradhi - Indoneisa
- Pipit Mutiara Jaya. PT, Indonesia
- ICICI Bank Limited - India
- Tata Chemicals Ltd - India
- Energy Link Ltd, New Zealand
- Malabar Cements Ltd - India
- Deloitte Consulting - India
- Gujarat Sidhee Cement - India
- Power Finance Corporation Ltd., India
- Semirara Mining Corp, Philippines
- GVK Power & Infra Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- IEA Clean Coal Centre - UK
- Directorate General of MIneral and Coal - Indonesia
- Aboitiz Power Corporation - Philippines
- Kideco Jaya Agung - Indonesia
- CNBM International Corporation - China
- Iligan Light & Power Inc, Philippines
- Orica Australia Pty. Ltd.
- Bayan Resources Tbk. - Indonesia
- Karaikal Port Pvt Ltd - India
- Coalindo Energy - Indonesia
- OPG Power Generation Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Maharashtra Electricity Regulatory Commission - India
- New Zealand Coal & Carbon
- Siam City Cement - Thailand
- European Bulk Services B.V. - Netherlands
- Miang Besar Coal Terminal - Indonesia
- SMC Global Power, Philippines
- Bukit Makmur.PT - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Ambuja Cements Ltd - India
- Anglo American - United Kingdom
- Price Waterhouse Coopers - Russia
- Mintek Dendrill Indonesia
- Baramulti Group, Indonesia
- Pendopo Energi Batubara - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Parliament of New Zealand
- Jorong Barutama Greston.PT - Indonesia
- Globalindo Alam Lestari - Indonesia
- Sarangani Energy Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- Sinarmas Energy and Mining - Indonesia
- Siam City Cement PLC, Thailand
- Thiess Contractors Indonesia
- Romanian Commodities Exchange
- Gujarat Mineral Development Corp Ltd - India
- Simpson Spence & Young - Indonesia
- Riau Bara Harum - Indonesia
- Sakthi Sugars Limited - India
- Trasteel International SA, Italy
- Binh Thuan Hamico - Vietnam
- Barasentosa Lestari - Indonesia
- Global Coal Blending Company Limited - Australia
- Parry Sugars Refinery, India
- Medco Energi Mining Internasional
- Kobexindo Tractors - Indoneisa
- Eastern Coal Council - USA
- Dalmia Cement Bharat India
- VISA Power Limited - India
- GAC Shipping (India) Pvt Ltd
- Timah Investasi Mineral - Indoneisa
- Ministry of Finance - Indonesia
- San Jose City I Power Corp, Philippines
- Interocean Group of Companies - India
- Standard Chartered Bank - UAE
- The University of Queensland
- Indian Oil Corporation Limited
- India Bulls Power Limited - India
- Straits Asia Resources Limited - Singapore
- Merrill Lynch Commodities Europe
- Gujarat Electricity Regulatory Commission - India
- Oldendorff Carriers - Singapore
- Petron Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- Kapuas Tunggal Persada - Indonesia
- Samtan Co., Ltd - South Korea
- Economic Council, Georgia
- Kaltim Prima Coal - Indonesia
- Commonwealth Bank - Australia
- Agrawal Coal Company - India
- Independent Power Producers Association of India
- Meralco Power Generation, Philippines
- Eastern Energy - Thailand
- Sindya Power Generating Company Private Ltd
- Kartika Selabumi Mining - Indonesia
- Indo Tambangraya Megah - Indonesia
- Sojitz Corporation - Japan
- Bhushan Steel Limited - India
- Rashtriya Ispat Nigam Limited - India
- Holcim Trading Pte Ltd - Singapore
- The Treasury - Australian Government
- Kepco SPC Power Corporation, Philippines
- Marubeni Corporation - India
- Tamil Nadu electricity Board
- South Luzon Thermal Energy Corporation
- Wood Mackenzie - Singapore
- Central Electricity Authority - India
- Indogreen Group - Indonesia
- Ministry of Mines - Canada
- Central Java Power - Indonesia
- Grasim Industreis Ltd - India
- McConnell Dowell - Australia
- Makarim & Taira - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
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