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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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Monday, 02 January 17
PORT OF NEWCASTLE SHIPPED 13.62 MMT OF COAL IN NOVEMBER; UP 4.18% M/M
COALspot.com: The Port of Newcastle, Australia’s major trading ports and the world’s largest coal export port has shipped $AU 1,201 Mil ...
Friday, 30 December 16
US WEEKLY COAL PRODUCTION TOTALS 15.2 MMST, DOWN 3.1% - EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 15.2 million sho ...
Thursday, 29 December 16
CHINA AIMS TO CAP COAL-FIRED POWER CAPACITY AT 1,100 GIGAWATTS BY THE END OF 2020 - REUTERS
China aims to cap total primary energy consumption at around 4.4 billion tonnes of coal equivalent in 2017, the director of the National Energy Adm ...
Wednesday, 28 December 16
FINANCIAL MARKETS AND COMMODITY MARKETS HAVE ALREADY SHOWED CONSIDERABLE IMPROVEMENT AND RENEWED OPTIMISM - GEORGE LAZARIDIS
As 2016 nears to a close many will be breathing a heavy sigh of relief, having made it through one of the toughest years in this century and lookin ...
Wednesday, 28 December 16
BUMA SIGNED APPROXIMATELY US$ 493 MILLION WORTH OF MINING SERVICES CONTRACTS WITH PT ADARO INDONESIA AND PT ANGSANA JAYA ENERGY
COALspot.com: PT Delta Dunia Makmur Tbk. Has announced that its primary operating subsidiary, PT Bukit Makmur Mandiri Utama ("BUMA") has ...
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- GAC Shipping (India) Pvt Ltd
- Baramulti Group, Indonesia
- Karbindo Abesyapradhi - Indoneisa
- TeaM Sual Corporation - Philippines
- Mintek Dendrill Indonesia
- Vedanta Resources Plc - India
- Siam City Cement - Thailand
- Therma Luzon, Inc, Philippines
- Bukit Baiduri Energy - Indonesia
- Savvy Resources Ltd - HongKong
- Riau Bara Harum - Indonesia
- White Energy Company Limited
- Indonesian Coal Mining Association
- Holcim Trading Pte Ltd - Singapore
- Simpson Spence & Young - Indonesia
- Standard Chartered Bank - UAE
- Global Coal Blending Company Limited - Australia
- Globalindo Alam Lestari - Indonesia
- Altura Mining Limited, Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Petron Corporation, Philippines
- Australian Commodity Traders Exchange
- Larsen & Toubro Limited - India
- Timah Investasi Mineral - Indoneisa
- Port Waratah Coal Services - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Renaissance Capital - South Africa
- Gujarat Electricity Regulatory Commission - India
- Madhucon Powers Ltd - India
- Sojitz Corporation - Japan
- LBH Netherlands Bv - Netherlands
- Toyota Tsusho Corporation, Japan
- Aditya Birla Group - India
- Neyveli Lignite Corporation Ltd, - India
- Ministry of Mines - Canada
- The Treasury - Australian Government
- Alfred C Toepfer International GmbH - Germany
- Romanian Commodities Exchange
- Agrawal Coal Company - India
- Kartika Selabumi Mining - Indonesia
- Anglo American - United Kingdom
- Merrill Lynch Commodities Europe
- Siam City Cement PLC, Thailand
- International Coal Ventures Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- Kideco Jaya Agung - Indonesia
- Bhatia International Limited - India
- Malabar Cements Ltd - India
- Sakthi Sugars Limited - India
- CNBM International Corporation - China
- Bulk Trading Sa - Switzerland
- Metalloyd Limited - United Kingdom
- IHS Mccloskey Coal Group - USA
- GMR Energy Limited - India
- Eastern Energy - Thailand
- Indian Oil Corporation Limited
- TNB Fuel Sdn Bhd - Malaysia
- Indian Energy Exchange, India
- Edison Trading Spa - Italy
- Central Java Power - Indonesia
- San Jose City I Power Corp, Philippines
- OPG Power Generation Pvt Ltd - India
- Chamber of Mines of South Africa
- Samtan Co., Ltd - South Korea
- Antam Resourcindo - Indonesia
- Billiton Holdings Pty Ltd - Australia
- PTC India Limited - India
- Oldendorff Carriers - Singapore
- Xindia Steels Limited - India
- PNOC Exploration Corporation - Philippines
- Heidelberg Cement - Germany
- Dalmia Cement Bharat India
- Singapore Mercantile Exchange
- Ministry of Finance - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kalimantan Lumbung Energi - Indonesia
- Trasteel International SA, Italy
- Economic Council, Georgia
- Thai Mozambique Logistica
- Coalindo Energy - Indonesia
- Borneo Indobara - Indonesia
- Meralco Power Generation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Barasentosa Lestari - Indonesia
- Electricity Authority, New Zealand
- Directorate General of MIneral and Coal - Indonesia
- Parry Sugars Refinery, India
- Sinarmas Energy and Mining - Indonesia
- Salva Resources Pvt Ltd - India
- Posco Energy - South Korea
- Vizag Seaport Private Limited - India
- Semirara Mining Corp, Philippines
- Orica Australia Pty. Ltd.
- Cement Manufacturers Association - India
- Leighton Contractors Pty Ltd - Australia
- Commonwealth Bank - Australia
- Tamil Nadu electricity Board
- Global Green Power PLC Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- The University of Queensland
- PetroVietnam Power Coal Import and Supply Company
- Thiess Contractors Indonesia
- Goldman Sachs - Singapore
- Wilmar Investment Holdings
- Sindya Power Generating Company Private Ltd
- Ministry of Transport, Egypt
- Intertek Mineral Services - Indonesia
- London Commodity Brokers - England
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Latin American Coal - Colombia
- Electricity Generating Authority of Thailand
- Pendopo Energi Batubara - Indonesia
- PowerSource Philippines DevCo
- Uttam Galva Steels Limited - India
- Energy Development Corp, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Indo Tambangraya Megah - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- European Bulk Services B.V. - Netherlands
- Tata Chemicals Ltd - India
- Georgia Ports Authority, United States
- Semirara Mining and Power Corporation, Philippines
- Orica Mining Services - Indonesia
- Wood Mackenzie - Singapore
- Jindal Steel & Power Ltd - India
- Straits Asia Resources Limited - Singapore
- Videocon Industries ltd - India
- Australian Coal Association
- SMC Global Power, Philippines
- Medco Energi Mining Internasional
- Gujarat Mineral Development Corp Ltd - India
- Bayan Resources Tbk. - Indonesia
- Coal and Oil Company - UAE
- Kapuas Tunggal Persada - Indonesia
- Meenaskhi Energy Private Limited - India
- Indogreen Group - Indonesia
- Gujarat Sidhee Cement - India
- Indika Energy - Indonesia
- ASAPP Information Group - India
- Makarim & Taira - Indonesia
- Jaiprakash Power Ventures ltd
- Maharashtra Electricity Regulatory Commission - India
- Mercuria Energy - Indonesia
- Sarangani Energy Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- Directorate Of Revenue Intelligence - India
- Bukit Makmur.PT - Indonesia
- South Luzon Thermal Energy Corporation
- Jorong Barutama Greston.PT - Indonesia
- Mercator Lines Limited - India
- Bhushan Steel Limited - India
- Central Electricity Authority - India
- Ambuja Cements Ltd - India
- Kaltim Prima Coal - Indonesia
- The State Trading Corporation of India Ltd
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bharathi Cement Corporation - India
- Cigading International Bulk Terminal - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Marubeni Corporation - India
- Aboitiz Power Corporation - Philippines
- CIMB Investment Bank - Malaysia
- Africa Commodities Group - South Africa
- Price Waterhouse Coopers - Russia
- Independent Power Producers Association of India
- IEA Clean Coal Centre - UK
- Bangladesh Power Developement Board
- India Bulls Power Limited - India
- Parliament of New Zealand
- Kepco SPC Power Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- Global Business Power Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Formosa Plastics Group - Taiwan
- Energy Link Ltd, New Zealand
- Grasim Industreis Ltd - India
- Lanco Infratech Ltd - India
- Kobexindo Tractors - Indoneisa
- Essar Steel Hazira Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Kumho Petrochemical, South Korea
- VISA Power Limited - India
- GVK Power & Infra Limited - India
- New Zealand Coal & Carbon
- Manunggal Multi Energi - Indonesia
- Sical Logistics Limited - India
- Rashtriya Ispat Nigam Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Planning Commission, India
- Bhoruka Overseas - Indonesia
- Rio Tinto Coal - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Iligan Light & Power Inc, Philippines
- Deloitte Consulting - India
- Minerals Council of Australia
- SMG Consultants - Indonesia
- Power Finance Corporation Ltd., India
- Ind-Barath Power Infra Limited - India
- Attock Cement Pakistan Limited
- Krishnapatnam Port Company Ltd. - India
- SN Aboitiz Power Inc, Philippines
- Ceylon Electricity Board - Sri Lanka
- ICICI Bank Limited - India
- AsiaOL BioFuels Corp., Philippines
- MS Steel International - UAE
- Chettinad Cement Corporation Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Mjunction Services Limited - India
- Eastern Coal Council - USA
- McConnell Dowell - Australia
- GN Power Mariveles Coal Plant, Philippines
- Carbofer General Trading SA - India
- Star Paper Mills Limited - India
- Karaikal Port Pvt Ltd - India
- Interocean Group of Companies - India
- Banpu Public Company Limited - Thailand
- Coastal Gujarat Power Limited - India
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