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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, 14 November 16
KOMIPO'S SEOCHEON POWER PLANT TO IMPORT 240,000 MT OF SEMI / ANTHRACITE COAL FOR Q1'17
COALspot.com: South Korea state-owned utility Korea Midland Power (KOMIPO) issued a new tender for 240K mt of Semi-Anthracite and Anthracite Coal f ...
Monday, 14 November 16
DUNIA MAKMUR SUBSIDIARY BAGS MINING SERVICE CONTRACT WORTH $ 282.63 MILLION
PT Bukit Makmur Mandiri Utama (BUMA), has signed a life of mine contract with PT Tadjahan Antang Mineral (TAM) with a contract value of approximate ...
Monday, 14 November 16
THE CAPE INDEX ROSE 44.57 PER CENTS TO 2303 POINT WEEK OVER WEEK
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities rose slightly and ending in a positive note this past wee ...
Friday, 11 November 16
INDONESIAN 4200 GAR COAL IS THE MOST ATTRACTIVE COAL IN TODAY'S MARKET - OPINION POLL
“ Which coal type of Indonesian origin do you find the most attractive in today's market?”
The on-line opinion poll conducted ...
Friday, 11 November 16
WEEKLY U.S. COAL OUTPUT FELL SLIGHTLY W/E NOVEMBER 5
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 16.9 million short ton ...
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- Asmin Koalindo Tuhup - Indonesia
- Sarangani Energy Corporation, Philippines
- India Bulls Power Limited - India
- The State Trading Corporation of India Ltd
- Coastal Gujarat Power Limited - India
- IEA Clean Coal Centre - UK
- Semirara Mining and Power Corporation, Philippines
- Edison Trading Spa - Italy
- Karaikal Port Pvt Ltd - India
- Eastern Coal Council - USA
- GMR Energy Limited - India
- Iligan Light & Power Inc, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Planning Commission, India
- Central Electricity Authority - India
- OPG Power Generation Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Bahari Cakrawala Sebuku - Indonesia
- Singapore Mercantile Exchange
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Videocon Industries ltd - India
- New Zealand Coal & Carbon
- Gujarat Sidhee Cement - India
- London Commodity Brokers - England
- Indo Tambangraya Megah - Indonesia
- Thai Mozambique Logistica
- Malabar Cements Ltd - India
- Georgia Ports Authority, United States
- Wood Mackenzie - Singapore
- Bhoruka Overseas - Indonesia
- Semirara Mining Corp, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Siam City Cement - Thailand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indian Energy Exchange, India
- Ind-Barath Power Infra Limited - India
- Altura Mining Limited, Indonesia
- Sree Jayajothi Cements Limited - India
- Sindya Power Generating Company Private Ltd
- Goldman Sachs - Singapore
- Romanian Commodities Exchange
- Attock Cement Pakistan Limited
- Gujarat Electricity Regulatory Commission - India
- Timah Investasi Mineral - Indoneisa
- Savvy Resources Ltd - HongKong
- Chettinad Cement Corporation Ltd - India
- Borneo Indobara - Indonesia
- Port Waratah Coal Services - Australia
- Bharathi Cement Corporation - India
- TeaM Sual Corporation - Philippines
- Rio Tinto Coal - Australia
- Tamil Nadu electricity Board
- Merrill Lynch Commodities Europe
- Antam Resourcindo - Indonesia
- Essar Steel Hazira Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Tata Chemicals Ltd - India
- Petron Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Mercator Lines Limited - India
- Minerals Council of Australia
- Kumho Petrochemical, South Korea
- McConnell Dowell - Australia
- Carbofer General Trading SA - India
- Meralco Power Generation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Billiton Holdings Pty Ltd - Australia
- Medco Energi Mining Internasional
- Agrawal Coal Company - India
- Bayan Resources Tbk. - Indonesia
- Sakthi Sugars Limited - India
- Kideco Jaya Agung - Indonesia
- Bukit Baiduri Energy - Indonesia
- Kaltim Prima Coal - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Straits Asia Resources Limited - Singapore
- Wilmar Investment Holdings
- Manunggal Multi Energi - Indonesia
- Interocean Group of Companies - India
- Coal and Oil Company - UAE
- Renaissance Capital - South Africa
- Energy Link Ltd, New Zealand
- Sinarmas Energy and Mining - Indonesia
- Mercuria Energy - Indonesia
- MS Steel International - UAE
- Energy Development Corp, Philippines
- Eastern Energy - Thailand
- Bukit Makmur.PT - Indonesia
- Commonwealth Bank - Australia
- Parliament of New Zealand
- Sical Logistics Limited - India
- Thiess Contractors Indonesia
- Vizag Seaport Private Limited - India
- Posco Energy - South Korea
- Baramulti Group, Indonesia
- Directorate Of Revenue Intelligence - India
- Latin American Coal - Colombia
- Maharashtra Electricity Regulatory Commission - India
- Vedanta Resources Plc - India
- Pipit Mutiara Jaya. PT, Indonesia
- Riau Bara Harum - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- ICICI Bank Limited - India
- Formosa Plastics Group - Taiwan
- Kartika Selabumi Mining - Indonesia
- San Jose City I Power Corp, Philippines
- Cigading International Bulk Terminal - Indonesia
- Aditya Birla Group - India
- Trasteel International SA, Italy
- Power Finance Corporation Ltd., India
- Bhatia International Limited - India
- Coalindo Energy - Indonesia
- Kobexindo Tractors - Indoneisa
- Jaiprakash Power Ventures ltd
- Banpu Public Company Limited - Thailand
- Global Business Power Corporation, Philippines
- ASAPP Information Group - India
- Siam City Cement PLC, Thailand
- Economic Council, Georgia
- Bangladesh Power Developement Board
- Larsen & Toubro Limited - India
- South Luzon Thermal Energy Corporation
- Makarim & Taira - Indonesia
- SMC Global Power, Philippines
- Barasentosa Lestari - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Australian Coal Association
- Toyota Tsusho Corporation, Japan
- Maheswari Brothers Coal Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Madhucon Powers Ltd - India
- Sojitz Corporation - Japan
- European Bulk Services B.V. - Netherlands
- Ambuja Cements Ltd - India
- GVK Power & Infra Limited - India
- Grasim Industreis Ltd - India
- Indian Oil Corporation Limited
- Bulk Trading Sa - Switzerland
- Price Waterhouse Coopers - Russia
- CNBM International Corporation - China
- GN Power Mariveles Coal Plant, Philippines
- Mjunction Services Limited - India
- Indika Energy - Indonesia
- Independent Power Producers Association of India
- Samtan Co., Ltd - South Korea
- Lanco Infratech Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kalimantan Lumbung Energi - Indonesia
- Orica Mining Services - Indonesia
- PTC India Limited - India
- Cement Manufacturers Association - India
- Globalindo Alam Lestari - Indonesia
- Star Paper Mills Limited - India
- GAC Shipping (India) Pvt Ltd
- Jindal Steel & Power Ltd - India
- International Coal Ventures Pvt Ltd - India
- Marubeni Corporation - India
- Orica Australia Pty. Ltd.
- Standard Chartered Bank - UAE
- Pendopo Energi Batubara - Indonesia
- Deloitte Consulting - India
- Indogreen Group - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Intertek Mineral Services - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Aboitiz Power Corporation - Philippines
- Uttam Galva Steels Limited - India
- Metalloyd Limited - United Kingdom
- Rashtriya Ispat Nigam Limited - India
- PNOC Exploration Corporation - Philippines
- Binh Thuan Hamico - Vietnam
- SN Aboitiz Power Inc, Philippines
- Indonesian Coal Mining Association
- Directorate General of MIneral and Coal - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- SMG Consultants - Indonesia
- The University of Queensland
- Simpson Spence & Young - Indonesia
- The Treasury - Australian Government
- Ministry of Finance - Indonesia
- Parry Sugars Refinery, India
- Oldendorff Carriers - Singapore
- Vijayanagar Sugar Pvt Ltd - India
- PowerSource Philippines DevCo
- Chamber of Mines of South Africa
- White Energy Company Limited
- Electricity Authority, New Zealand
- Electricity Generating Authority of Thailand
- Xindia Steels Limited - India
- Krishnapatnam Port Company Ltd. - India
- LBH Netherlands Bv - Netherlands
- AsiaOL BioFuels Corp., Philippines
- Salva Resources Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- Jorong Barutama Greston.PT - Indonesia
- Australian Commodity Traders Exchange
- Kepco SPC Power Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- VISA Power Limited - India
- Anglo American - United Kingdom
- Ministry of Mines - Canada
- Bhushan Steel Limited - India
- Ministry of Transport, Egypt
- Ceylon Electricity Board - Sri Lanka
- CIMB Investment Bank - Malaysia
- Mintek Dendrill Indonesia
- Dalmia Cement Bharat India
- Meenaskhi Energy Private Limited - India
- Therma Luzon, Inc, Philippines
- Miang Besar Coal Terminal - Indonesia
- Africa Commodities Group - South Africa
- Heidelberg Cement - Germany
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Central Java Power - Indonesia
- Global Green Power PLC Corporation, Philippines
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