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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, 15 April 16
U.S WEEKLY COAL OUTPUT FALLS ACROSS ALL BASINS - EIA
COALspot.com – U.S the world’s second largest coal producer has produced approximately totaled an estimated 10.2 million short tons (mm ...
Thursday, 14 April 16
AUSTRALIAN MINING SERVICES SECTOR SQUEEZED BY MINERS' COST CUTS - FITCH RATINGS
Fitch Ratings says mining services companies' revenues and margins will remain under pressure as miners continue to focus on reducing costs ami ...
Thursday, 14 April 16
DRY BULKERS' PRICES COULD BE HEADING UPWARDS AS BUYERS' APPETITE INCREASES - HELLENIC SHIPPING NEWS
Investment sentiment is beginning to trend upwards in the market for second hand dry bulk carriers. According to the latest weekly report from ship ...
Wednesday, 13 April 16
U.S COAL PRODUCTION IS EXPECTED TO DECREASE BY 16 PER CENT IN 2016; THE LARGEST ANNUAL PERCENTAGE DECLINE SINCE 1958 - EIA
EIA estimates that U.S. coal production in March 2016 was 52 million short tons (MMst), a 2 MMst (4%) decrease from the previous month and 29 MMst ...
Tuesday, 12 April 16
INDONESIA COAL BENCHMARK PRICE INCREASES FOR SECOND STRAIGHT MONTH
COALspot.com: The Indonesia Coal Benchmark Price Increases For Second Straight Month in April 2016.
The Director General of Mine ...
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- VISA Power Limited - India
- Parry Sugars Refinery, India
- Miang Besar Coal Terminal - Indonesia
- Indonesian Coal Mining Association
- OPG Power Generation Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- South Luzon Thermal Energy Corporation
- International Coal Ventures Pvt Ltd - India
- Mintek Dendrill Indonesia
- Chamber of Mines of South Africa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Economic Council, Georgia
- New Zealand Coal & Carbon
- Borneo Indobara - Indonesia
- Kideco Jaya Agung - Indonesia
- Marubeni Corporation - India
- Metalloyd Limited - United Kingdom
- Krishnapatnam Port Company Ltd. - India
- Pipit Mutiara Jaya. PT, Indonesia
- Indogreen Group - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Essar Steel Hazira Ltd - India
- Manunggal Multi Energi - Indonesia
- Meenaskhi Energy Private Limited - India
- Bharathi Cement Corporation - India
- Iligan Light & Power Inc, Philippines
- Antam Resourcindo - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Cigading International Bulk Terminal - Indonesia
- Posco Energy - South Korea
- Directorate General of MIneral and Coal - Indonesia
- Agrawal Coal Company - India
- Tamil Nadu electricity Board
- Billiton Holdings Pty Ltd - Australia
- TeaM Sual Corporation - Philippines
- Ministry of Finance - Indonesia
- Sree Jayajothi Cements Limited - India
- Oldendorff Carriers - Singapore
- Uttam Galva Steels Limited - India
- Sical Logistics Limited - India
- India Bulls Power Limited - India
- Semirara Mining and Power Corporation, Philippines
- Siam City Cement - Thailand
- Bulk Trading Sa - Switzerland
- Sindya Power Generating Company Private Ltd
- Barasentosa Lestari - Indonesia
- Xindia Steels Limited - India
- The State Trading Corporation of India Ltd
- Medco Energi Mining Internasional
- Larsen & Toubro Limited - India
- Sarangani Energy Corporation, Philippines
- Anglo American - United Kingdom
- Formosa Plastics Group - Taiwan
- Bhoruka Overseas - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Aboitiz Power Corporation - Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Lanco Infratech Ltd - India
- Simpson Spence & Young - Indonesia
- Power Finance Corporation Ltd., India
- Kaltim Prima Coal - Indonesia
- Eastern Coal Council - USA
- Orica Mining Services - Indonesia
- Baramulti Group, Indonesia
- IHS Mccloskey Coal Group - USA
- Minerals Council of Australia
- Indika Energy - Indonesia
- Price Waterhouse Coopers - Russia
- San Jose City I Power Corp, Philippines
- Chettinad Cement Corporation Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Heidelberg Cement - Germany
- Energy Development Corp, Philippines
- LBH Netherlands Bv - Netherlands
- Jorong Barutama Greston.PT - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Binh Thuan Hamico - Vietnam
- The University of Queensland
- Carbofer General Trading SA - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Australian Coal Association
- Kumho Petrochemical, South Korea
- Videocon Industries ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Electricity Authority, New Zealand
- PetroVietnam Power Coal Import and Supply Company
- GN Power Mariveles Coal Plant, Philippines
- Romanian Commodities Exchange
- Commonwealth Bank - Australia
- Sinarmas Energy and Mining - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Meralco Power Generation, Philippines
- Sojitz Corporation - Japan
- GAC Shipping (India) Pvt Ltd
- PNOC Exploration Corporation - Philippines
- Mercuria Energy - Indonesia
- Coalindo Energy - Indonesia
- White Energy Company Limited
- Kalimantan Lumbung Energi - Indonesia
- GMR Energy Limited - India
- Sakthi Sugars Limited - India
- Bhushan Steel Limited - India
- Mjunction Services Limited - India
- Edison Trading Spa - Italy
- Ceylon Electricity Board - Sri Lanka
- Energy Link Ltd, New Zealand
- Kepco SPC Power Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Wilmar Investment Holdings
- Wood Mackenzie - Singapore
- Riau Bara Harum - Indonesia
- Ministry of Transport, Egypt
- Latin American Coal - Colombia
- Timah Investasi Mineral - Indoneisa
- Attock Cement Pakistan Limited
- Offshore Bulk Terminal Pte Ltd, Singapore
- Toyota Tsusho Corporation, Japan
- Kobexindo Tractors - Indoneisa
- Savvy Resources Ltd - HongKong
- Orica Australia Pty. Ltd.
- Makarim & Taira - Indonesia
- Madhucon Powers Ltd - India
- Samtan Co., Ltd - South Korea
- Renaissance Capital - South Africa
- Electricity Generating Authority of Thailand
- Deloitte Consulting - India
- Thiess Contractors Indonesia
- Independent Power Producers Association of India
- Dalmia Cement Bharat India
- European Bulk Services B.V. - Netherlands
- Africa Commodities Group - South Africa
- Standard Chartered Bank - UAE
- Altura Mining Limited, Indonesia
- Central Java Power - Indonesia
- The Treasury - Australian Government
- Thai Mozambique Logistica
- PTC India Limited - India
- Tata Chemicals Ltd - India
- MS Steel International - UAE
- Petron Corporation, Philippines
- ICICI Bank Limited - India
- Cement Manufacturers Association - India
- Jindal Steel & Power Ltd - India
- CIMB Investment Bank - Malaysia
- Aditya Birla Group - India
- Coastal Gujarat Power Limited - India
- Ambuja Cements Ltd - India
- McConnell Dowell - Australia
- Intertek Mineral Services - Indonesia
- Maheswari Brothers Coal Limited - India
- Holcim Trading Pte Ltd - Singapore
- Rashtriya Ispat Nigam Limited - India
- Indo Tambangraya Megah - Indonesia
- Gujarat Sidhee Cement - India
- Central Electricity Authority - India
- Indian Energy Exchange, India
- Malabar Cements Ltd - India
- ASAPP Information Group - India
- Goldman Sachs - Singapore
- Gujarat Electricity Regulatory Commission - India
- Therma Luzon, Inc, Philippines
- Siam City Cement PLC, Thailand
- Global Coal Blending Company Limited - Australia
- Trasteel International SA, Italy
- Indian Oil Corporation Limited
- Planning Commission, India
- Karaikal Port Pvt Ltd - India
- Coal and Oil Company - UAE
- Ind-Barath Power Infra Limited - India
- Mercator Lines Limited - India
- IEA Clean Coal Centre - UK
- Bukit Asam (Persero) Tbk - Indonesia
- Bukit Makmur.PT - Indonesia
- SMG Consultants - Indonesia
- PowerSource Philippines DevCo
- Directorate Of Revenue Intelligence - India
- Vizag Seaport Private Limited - India
- Global Business Power Corporation, Philippines
- Eastern Energy - Thailand
- Kartika Selabumi Mining - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Merrill Lynch Commodities Europe
- CNBM International Corporation - China
- SMC Global Power, Philippines
- Global Green Power PLC Corporation, Philippines
- GVK Power & Infra Limited - India
- Rio Tinto Coal - Australia
- Bhatia International Limited - India
- Georgia Ports Authority, United States
- Pendopo Energi Batubara - Indonesia
- Singapore Mercantile Exchange
- Kapuas Tunggal Persada - Indonesia
- Straits Asia Resources Limited - Singapore
- London Commodity Brokers - England
- Australian Commodity Traders Exchange
- Bangladesh Power Developement Board
- Port Waratah Coal Services - Australia
- Semirara Mining Corp, Philippines
- Jaiprakash Power Ventures ltd
- Interocean Group of Companies - India
- TNB Fuel Sdn Bhd - Malaysia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- SN Aboitiz Power Inc, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Salva Resources Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- Parliament of New Zealand
- Bahari Cakrawala Sebuku - Indonesia
- Vedanta Resources Plc - India
- Grasim Industreis Ltd - India
- Star Paper Mills Limited - India
- Leighton Contractors Pty Ltd - Australia
- Ministry of Mines - Canada
- Vijayanagar Sugar Pvt Ltd - India
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