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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, 16 November 17
KOMIPO INVITED BIDS FOR 3.9 MILLION TONS OF 5700 NAR AND 5400 NAR COAL FOR 2018 - 2020 DELIVERY
COALspot.com: South Korea state-owned utility Korea Midland Power (KOMIPO) issued an another new tender for total 3,900,000 Metric Tons of min. 570 ...
Thursday, 16 November 17
THE PORT OF NEWCASTLE HAS SHIPPED 14.94 PERCENT LESS COAL IN OCTOBER 2017, DATA SHOWS
COALspot.com: The Port of Newcastle, Australia’s major trading ports, and the world’s largest coal export port has shipped $AU 1,466.8 ...
Thursday, 16 November 17
GOVERNMENT, 13 COAL MINERS AGREE TO CHANGE CONTRACTS - JP
The government and 13 coal mining companies have agreed to change the old Contract of Work (CoW), as part of the implementation of Law No. 4/20199 ...
Wednesday, 15 November 17
IEA RECOGNISES COAL'S CONTINUOUS IMPORTANCE TO GLOBAL ENERGY NEEDS - WCA
The World Coal Association (WCA) has welcomed the International Energy Agency’s (IEA) recognition that coal will continue to play a vital rol ...
Wednesday, 15 November 17
THERMAL COAL WAS DRAGGED DOWN BY THE WEAKNESS ACROSS THE WIDER ENERGY SECTOR - DANIEL HYNES
The coal market was mixed.
Thermal coal was dragged down by the weakness across the wider energy sector, said Daniel Hynes Senior Commodi ...
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Showing 1876 to 1880 news of total 6871 |
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- Metalloyd Limited - United Kingdom
- Mintek Dendrill Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kohat Cement Company Ltd. - Pakistan
- The State Trading Corporation of India Ltd
- Chettinad Cement Corporation Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Sakthi Sugars Limited - India
- Independent Power Producers Association of India
- Indian Energy Exchange, India
- Indogreen Group - Indonesia
- Orica Australia Pty. Ltd.
- San Jose City I Power Corp, Philippines
- White Energy Company Limited
- Makarim & Taira - Indonesia
- Miang Besar Coal Terminal - Indonesia
- LBH Netherlands Bv - Netherlands
- Global Coal Blending Company Limited - Australia
- Latin American Coal - Colombia
- Semirara Mining Corp, Philippines
- Global Business Power Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- Ceylon Electricity Board - Sri Lanka
- Pendopo Energi Batubara - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Bayan Resources Tbk. - Indonesia
- Price Waterhouse Coopers - Russia
- Ministry of Mines - Canada
- OPG Power Generation Pvt Ltd - India
- Sojitz Corporation - Japan
- Bulk Trading Sa - Switzerland
- Karaikal Port Pvt Ltd - India
- Indika Energy - Indonesia
- Planning Commission, India
- ICICI Bank Limited - India
- CNBM International Corporation - China
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Videocon Industries ltd - India
- Eastern Energy - Thailand
- International Coal Ventures Pvt Ltd - India
- GMR Energy Limited - India
- Iligan Light & Power Inc, Philippines
- Barasentosa Lestari - Indonesia
- Ambuja Cements Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Antam Resourcindo - Indonesia
- GVK Power & Infra Limited - India
- VISA Power Limited - India
- Timah Investasi Mineral - Indoneisa
- Riau Bara Harum - Indonesia
- Vedanta Resources Plc - India
- Maheswari Brothers Coal Limited - India
- Central Java Power - Indonesia
- Ministry of Finance - Indonesia
- PowerSource Philippines DevCo
- IEA Clean Coal Centre - UK
- TNB Fuel Sdn Bhd - Malaysia
- Rashtriya Ispat Nigam Limited - India
- Grasim Industreis Ltd - India
- Kaltim Prima Coal - Indonesia
- Lanco Infratech Ltd - India
- Goldman Sachs - Singapore
- McConnell Dowell - Australia
- Australian Coal Association
- Bukit Makmur.PT - Indonesia
- SN Aboitiz Power Inc, Philippines
- Coastal Gujarat Power Limited - India
- Merrill Lynch Commodities Europe
- The Treasury - Australian Government
- Indonesian Coal Mining Association
- Economic Council, Georgia
- Anglo American - United Kingdom
- Banpu Public Company Limited - Thailand
- Manunggal Multi Energi - Indonesia
- GAC Shipping (India) Pvt Ltd
- Jaiprakash Power Ventures ltd
- Heidelberg Cement - Germany
- Kepco SPC Power Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- Wilmar Investment Holdings
- Australian Commodity Traders Exchange
- Electricity Generating Authority of Thailand
- Uttam Galva Steels Limited - India
- ASAPP Information Group - India
- Standard Chartered Bank - UAE
- GN Power Mariveles Coal Plant, Philippines
- Sical Logistics Limited - India
- Aboitiz Power Corporation - Philippines
- Thai Mozambique Logistica
- Siam City Cement - Thailand
- PTC India Limited - India
- Star Paper Mills Limited - India
- Electricity Authority, New Zealand
- Attock Cement Pakistan Limited
- Leighton Contractors Pty Ltd - Australia
- Romanian Commodities Exchange
- CIMB Investment Bank - Malaysia
- New Zealand Coal & Carbon
- Agrawal Coal Company - India
- Salva Resources Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- SMG Consultants - Indonesia
- Kobexindo Tractors - Indoneisa
- Bahari Cakrawala Sebuku - Indonesia
- Central Electricity Authority - India
- Baramulti Group, Indonesia
- Madhucon Powers Ltd - India
- Mercuria Energy - Indonesia
- European Bulk Services B.V. - Netherlands
- Edison Trading Spa - Italy
- Directorate General of MIneral and Coal - Indonesia
- India Bulls Power Limited - India
- Bharathi Cement Corporation - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Gujarat Mineral Development Corp Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Malabar Cements Ltd - India
- Oldendorff Carriers - Singapore
- Samtan Co., Ltd - South Korea
- Tamil Nadu electricity Board
- Wood Mackenzie - Singapore
- Semirara Mining and Power Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Cement Manufacturers Association - India
- SMC Global Power, Philippines
- Energy Development Corp, Philippines
- Siam City Cement PLC, Thailand
- Krishnapatnam Port Company Ltd. - India
- Bhushan Steel Limited - India
- Singapore Mercantile Exchange
- Altura Mining Limited, Indonesia
- Sarangani Energy Corporation, Philippines
- Coal and Oil Company - UAE
- Xindia Steels Limited - India
- Savvy Resources Ltd - HongKong
- Sinarmas Energy and Mining - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Interocean Group of Companies - India
- Bukit Baiduri Energy - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Formosa Plastics Group - Taiwan
- Vizag Seaport Private Limited - India
- Thiess Contractors Indonesia
- Africa Commodities Group - South Africa
- Medco Energi Mining Internasional
- Jindal Steel & Power Ltd - India
- Meralco Power Generation, Philippines
- Sindya Power Generating Company Private Ltd
- Kideco Jaya Agung - Indonesia
- Bhatia International Limited - India
- Mercator Lines Limited - India
- Cigading International Bulk Terminal - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Trasteel International SA, Italy
- Simpson Spence & Young - Indonesia
- The University of Queensland
- IHS Mccloskey Coal Group - USA
- Port Waratah Coal Services - Australia
- Kartika Selabumi Mining - Indonesia
- Ministry of Transport, Egypt
- Intertek Mineral Services - Indonesia
- Kumho Petrochemical, South Korea
- Coalindo Energy - Indonesia
- MS Steel International - UAE
- South Luzon Thermal Energy Corporation
- Parry Sugars Refinery, India
- Binh Thuan Hamico - Vietnam
- Bangladesh Power Developement Board
- Toyota Tsusho Corporation, Japan
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kapuas Tunggal Persada - Indonesia
- Carbofer General Trading SA - India
- Jorong Barutama Greston.PT - Indonesia
- Renaissance Capital - South Africa
- Essar Steel Hazira Ltd - India
- Posco Energy - South Korea
- Commonwealth Bank - Australia
- Mjunction Services Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Marubeni Corporation - India
- TeaM Sual Corporation - Philippines
- Dalmia Cement Bharat India
- Eastern Coal Council - USA
- Energy Link Ltd, New Zealand
- Billiton Holdings Pty Ltd - Australia
- Sree Jayajothi Cements Limited - India
- Deloitte Consulting - India
- Rio Tinto Coal - Australia
- Kalimantan Lumbung Energi - Indonesia
- Georgia Ports Authority, United States
- Indian Oil Corporation Limited
- Gujarat Sidhee Cement - India
- Meenaskhi Energy Private Limited - India
- PNOC Exploration Corporation - Philippines
- Therma Luzon, Inc, Philippines
- Globalindo Alam Lestari - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Asmin Koalindo Tuhup - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Chamber of Mines of South Africa
- Straits Asia Resources Limited - Singapore
- Bhoruka Overseas - Indonesia
- Parliament of New Zealand
- London Commodity Brokers - England
- Global Green Power PLC Corporation, Philippines
- Borneo Indobara - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Power Finance Corporation Ltd., India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Tata Chemicals Ltd - India
- Petron Corporation, Philippines
- Orica Mining Services - Indonesia
- Aditya Birla Group - India
- Larsen & Toubro Limited - India
- Minerals Council of Australia
- Indo Tambangraya Megah - Indonesia
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