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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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Wednesday, 10 August 16
THE INDONESIAN DRAFT NEW MINING LAW - AMENDMENTS TO THE 2009 MINING LAW
KNOWLEDGE TO ELEVATE
COALspot.com: A draft mining law published by Indonesia's Minister of Energy and Mineral Resources provides use ...
Tuesday, 09 August 16
CS50 COAL INDEX HITS NEW FIFTY-WEEKS HIGH
COALspot.com: Average 5000 GAR coal index of Indonesian origin rose 1.78% week over week to averaging $41.85 per ton this past week, shows CS (i) C ...
Tuesday, 09 August 16
HARD COAL PRODUCTION AND WORLD TRADE ON THE DECLINE FOR THE FIRST TIME IN YEARS - VDKI
Hard coal production and world trade on the decline for the first time in years – not a harbinger of a global energy turnaround
Worldwid ...
Tuesday, 09 August 16
BREXIT, BRITANNIA AND THE WAVES - TREVOR CROWE, CLARKSON RESEARCH
This week, the Bank of England put into place its action plan following the UK referendum on 23rd June, which indicated the British population&rsqu ...
Monday, 08 August 16
INDONESIA'S DRAFT MINING LAW HINTS AT FUTURE REGULATORY FRAMEWORK
KNOWLEDGE TO ELEVATE
COALspot.com: A draft mining law published by Indonesia's Minister of Energy and Mineral Resources provides use ...
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- Orica Australia Pty. Ltd.
- Planning Commission, India
- Merrill Lynch Commodities Europe
- Maharashtra Electricity Regulatory Commission - India
- Directorate General of MIneral and Coal - Indonesia
- Bangladesh Power Developement Board
- Deloitte Consulting - India
- Star Paper Mills Limited - India
- Jaiprakash Power Ventures ltd
- Karbindo Abesyapradhi - Indoneisa
- VISA Power Limited - India
- Indogreen Group - Indonesia
- The State Trading Corporation of India Ltd
- Bhoruka Overseas - Indonesia
- San Jose City I Power Corp, Philippines
- Riau Bara Harum - Indonesia
- The University of Queensland
- Ministry of Mines - Canada
- Agrawal Coal Company - India
- Energy Link Ltd, New Zealand
- Global Green Power PLC Corporation, Philippines
- Electricity Generating Authority of Thailand
- Kaltim Prima Coal - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- GAC Shipping (India) Pvt Ltd
- Antam Resourcindo - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Edison Trading Spa - Italy
- Iligan Light & Power Inc, Philippines
- Wood Mackenzie - Singapore
- Manunggal Multi Energi - Indonesia
- Borneo Indobara - Indonesia
- Simpson Spence & Young - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Kartika Selabumi Mining - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Indika Energy - Indonesia
- Aditya Birla Group - India
- Eastern Coal Council - USA
- IHS Mccloskey Coal Group - USA
- LBH Netherlands Bv - Netherlands
- Binh Thuan Hamico - Vietnam
- SN Aboitiz Power Inc, Philippines
- TeaM Sual Corporation - Philippines
- Mercator Lines Limited - India
- Latin American Coal - Colombia
- Essar Steel Hazira Ltd - India
- Bharathi Cement Corporation - India
- Meenaskhi Energy Private Limited - India
- Barasentosa Lestari - Indonesia
- Marubeni Corporation - India
- Vedanta Resources Plc - India
- European Bulk Services B.V. - Netherlands
- Kalimantan Lumbung Energi - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Gujarat Sidhee Cement - India
- GN Power Mariveles Coal Plant, Philippines
- Metalloyd Limited - United Kingdom
- Petron Corporation, Philippines
- PTC India Limited - India
- India Bulls Power Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Minerals Council of Australia
- Global Coal Blending Company Limited - Australia
- Gujarat Electricity Regulatory Commission - India
- Miang Besar Coal Terminal - Indonesia
- Parry Sugars Refinery, India
- Global Business Power Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- Attock Cement Pakistan Limited
- Neyveli Lignite Corporation Ltd, - India
- SMC Global Power, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Rio Tinto Coal - Australia
- Carbofer General Trading SA - India
- Energy Development Corp, Philippines
- Therma Luzon, Inc, Philippines
- Medco Energi Mining Internasional
- Wilmar Investment Holdings
- Sical Logistics Limited - India
- Timah Investasi Mineral - Indoneisa
- Coastal Gujarat Power Limited - India
- South Luzon Thermal Energy Corporation
- Sarangani Energy Corporation, Philippines
- Grasim Industreis Ltd - India
- Bukit Makmur.PT - Indonesia
- GVK Power & Infra Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Coal and Oil Company - UAE
- Commonwealth Bank - Australia
- Ministry of Transport, Egypt
- Bayan Resources Tbk. - Indonesia
- New Zealand Coal & Carbon
- Leighton Contractors Pty Ltd - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- White Energy Company Limited
- Savvy Resources Ltd - HongKong
- Bulk Trading Sa - Switzerland
- Toyota Tsusho Corporation, Japan
- ICICI Bank Limited - India
- Gujarat Mineral Development Corp Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Samtan Co., Ltd - South Korea
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Posco Energy - South Korea
- Dalmia Cement Bharat India
- Africa Commodities Group - South Africa
- Holcim Trading Pte Ltd - Singapore
- Bhatia International Limited - India
- Economic Council, Georgia
- Straits Asia Resources Limited - Singapore
- Bahari Cakrawala Sebuku - Indonesia
- Uttam Galva Steels Limited - India
- ASAPP Information Group - India
- Videocon Industries ltd - India
- Georgia Ports Authority, United States
- Standard Chartered Bank - UAE
- Tata Chemicals Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Banpu Public Company Limited - Thailand
- Vizag Seaport Private Limited - India
- Romanian Commodities Exchange
- PetroVietnam Power Coal Import and Supply Company
- Cement Manufacturers Association - India
- Rashtriya Ispat Nigam Limited - India
- Ministry of Finance - Indonesia
- CNBM International Corporation - China
- Sakthi Sugars Limited - India
- Orica Mining Services - Indonesia
- Coalindo Energy - Indonesia
- Indo Tambangraya Megah - Indonesia
- OPG Power Generation Pvt Ltd - India
- IEA Clean Coal Centre - UK
- Billiton Holdings Pty Ltd - Australia
- Semirara Mining Corp, Philippines
- Anglo American - United Kingdom
- GMR Energy Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Intertek Mineral Services - Indonesia
- Mjunction Services Limited - India
- SMG Consultants - Indonesia
- Bhushan Steel Limited - India
- Kobexindo Tractors - Indoneisa
- International Coal Ventures Pvt Ltd - India
- Karaikal Port Pvt Ltd - India
- Makarim & Taira - Indonesia
- MS Steel International - UAE
- Cigading International Bulk Terminal - Indonesia
- Jindal Steel & Power Ltd - India
- The Treasury - Australian Government
- Thai Mozambique Logistica
- Kepco SPC Power Corporation, Philippines
- Thiess Contractors Indonesia
- London Commodity Brokers - England
- Australian Commodity Traders Exchange
- Kumho Petrochemical, South Korea
- TNB Fuel Sdn Bhd - Malaysia
- Oldendorff Carriers - Singapore
- PowerSource Philippines DevCo
- Parliament of New Zealand
- Ind-Barath Power Infra Limited - India
- Chamber of Mines of South Africa
- Directorate Of Revenue Intelligence - India
- Madhucon Powers Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Singapore Mercantile Exchange
- Kapuas Tunggal Persada - Indonesia
- Price Waterhouse Coopers - Russia
- Central Electricity Authority - India
- Goldman Sachs - Singapore
- Heidelberg Cement - Germany
- Larsen & Toubro Limited - India
- Baramulti Group, Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Indonesian Coal Mining Association
- Central Java Power - Indonesia
- Pendopo Energi Batubara - Indonesia
- Siam City Cement PLC, Thailand
- Ambuja Cements Ltd - India
- Maheswari Brothers Coal Limited - India
- CIMB Investment Bank - Malaysia
- Altura Mining Limited, Indonesia
- Chettinad Cement Corporation Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Malabar Cements Ltd - India
- Siam City Cement - Thailand
- Aboitiz Power Corporation - Philippines
- Independent Power Producers Association of India
- Interocean Group of Companies - India
- Xindia Steels Limited - India
- Indian Energy Exchange, India
- Sojitz Corporation - Japan
- Globalindo Alam Lestari - Indonesia
- Kideco Jaya Agung - Indonesia
- Port Waratah Coal Services - Australia
- Mercuria Energy - Indonesia
- Australian Coal Association
- Mintek Dendrill Indonesia
- Electricity Authority, New Zealand
- Trasteel International SA, Italy
- Kohat Cement Company Ltd. - Pakistan
- PNOC Exploration Corporation - Philippines
- Eastern Energy - Thailand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Tamil Nadu electricity Board
- Sindya Power Generating Company Private Ltd
- Salva Resources Pvt Ltd - India
- Lanco Infratech Ltd - India
- McConnell Dowell - Australia
- Indian Oil Corporation Limited
- Renaissance Capital - South Africa
- Power Finance Corporation Ltd., India
- Bukit Baiduri Energy - Indonesia
- Meralco Power Generation, Philippines
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