We welcome article submissions from experts in the areas of coal, mining,
shipping, etc.
To Submit your article please click here.
|
|
|
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.
|
|
Share your
coal and shipping news
|
|
“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 )
If you believe an article violates your rights or the rights of others, please contact us.
|
|
Tuesday, 12 April 16
NO FURTHER SIGNIFICANT COAL PRICE DECLINES IN THE FUTURE - FITCH
COALspot.com: Fitch does not expect further significant coal price declines because producers sector-wide are suffering losses while China and Indo ...
Monday, 11 April 16
ON THE TIGHTROPE, IT CAN BE HARD TO KEEP YOUR BALANCE.... - CLARKSONS
Today’s headlines often point towards the impact of the demand side on the state of health of the shipping markets. But despite the fact that ...
Monday, 11 April 16
WEEKLY CS (I) COAL INDEX FOR 5700 GAR COAL UP 0.03 CENTS, OR ABOUT 0.06 PERCENT, TO $48.21 A TON
COALspot.com: Average 5000 GAR coal index of Indonesian origin fell 0.15 percent week over week to averaging $38.82 per ton on this past Friday, ac ...
Monday, 11 April 16
COAL IS NOT THE ENEMY TO FIGHT - ANDREA CLAVARINO, ASSOCARBONI
COALspot.com: “Coal is not the enemy to fight and electricity production from coal has an environmental impact in its lifecycle similar to na ...
Monday, 11 April 16
FORTY INDIAN COAL IMPORTERS UNDER THE DRI SCANNER FOR OVER-INVOICING : HINDU BUSINESS LINE
The Finance Ministry and the Directorate of Revenue Intelligence (DRI) of India are said to have stepped up investigations into the alleged over-in ...
|
|
|
Showing 2481 to 2485 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Savvy Resources Ltd - HongKong
- TNB Fuel Sdn Bhd - Malaysia
- Riau Bara Harum - Indonesia
- San Jose City I Power Corp, Philippines
- Mintek Dendrill Indonesia
- Africa Commodities Group - South Africa
- Tata Chemicals Ltd - India
- Metalloyd Limited - United Kingdom
- Kartika Selabumi Mining - Indonesia
- Larsen & Toubro Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Chamber of Mines of South Africa
- Grasim Industreis Ltd - India
- Petron Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- GAC Shipping (India) Pvt Ltd
- Maharashtra Electricity Regulatory Commission - India
- Trasteel International SA, Italy
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kumho Petrochemical, South Korea
- Tamil Nadu electricity Board
- Kaltim Prima Coal - Indonesia
- Renaissance Capital - South Africa
- Salva Resources Pvt Ltd - India
- Interocean Group of Companies - India
- Uttam Galva Steels Limited - India
- Power Finance Corporation Ltd., India
- Vedanta Resources Plc - India
- Siam City Cement - Thailand
- Energy Development Corp, Philippines
- Globalindo Alam Lestari - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- International Coal Ventures Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Kepco SPC Power Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Timah Investasi Mineral - Indoneisa
- Energy Link Ltd, New Zealand
- Wilmar Investment Holdings
- Altura Mining Limited, Indonesia
- Orica Mining Services - Indonesia
- Maheswari Brothers Coal Limited - India
- Australian Coal Association
- Meenaskhi Energy Private Limited - India
- Central Java Power - Indonesia
- Bukit Makmur.PT - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Bulk Trading Sa - Switzerland
- Videocon Industries ltd - India
- PNOC Exploration Corporation - Philippines
- Port Waratah Coal Services - Australia
- London Commodity Brokers - England
- Sical Logistics Limited - India
- ICICI Bank Limited - India
- Independent Power Producers Association of India
- Coalindo Energy - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Planning Commission, India
- Ind-Barath Power Infra Limited - India
- Toyota Tsusho Corporation, Japan
- Anglo American - United Kingdom
- Madhucon Powers Ltd - India
- CIMB Investment Bank - Malaysia
- Heidelberg Cement - Germany
- Dalmia Cement Bharat India
- Medco Energi Mining Internasional
- OPG Power Generation Pvt Ltd - India
- Siam City Cement PLC, Thailand
- Xindia Steels Limited - India
- White Energy Company Limited
- Parry Sugars Refinery, India
- PetroVietnam Power Coal Import and Supply Company
- Intertek Mineral Services - Indonesia
- The State Trading Corporation of India Ltd
- Essar Steel Hazira Ltd - India
- Jindal Steel & Power Ltd - India
- CNBM International Corporation - China
- TeaM Sual Corporation - Philippines
- Ambuja Cements Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Star Paper Mills Limited - India
- Standard Chartered Bank - UAE
- Eastern Energy - Thailand
- Asmin Koalindo Tuhup - Indonesia
- ASAPP Information Group - India
- GMR Energy Limited - India
- Romanian Commodities Exchange
- Wood Mackenzie - Singapore
- Commonwealth Bank - Australia
- GVK Power & Infra Limited - India
- The University of Queensland
- Bayan Resources Tbk. - Indonesia
- Electricity Authority, New Zealand
- Vijayanagar Sugar Pvt Ltd - India
- IEA Clean Coal Centre - UK
- Bukit Baiduri Energy - Indonesia
- Mjunction Services Limited - India
- Singapore Mercantile Exchange
- Directorate Of Revenue Intelligence - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Parliament of New Zealand
- Electricity Generating Authority of Thailand
- Cigading International Bulk Terminal - Indonesia
- Sindya Power Generating Company Private Ltd
- Kideco Jaya Agung - Indonesia
- Bhoruka Overseas - Indonesia
- Agrawal Coal Company - India
- Neyveli Lignite Corporation Ltd, - India
- New Zealand Coal & Carbon
- Price Waterhouse Coopers - Russia
- Posco Energy - South Korea
- The Treasury - Australian Government
- Ceylon Electricity Board - Sri Lanka
- Vizag Seaport Private Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Therma Luzon, Inc, Philippines
- India Bulls Power Limited - India
- Central Electricity Authority - India
- Aditya Birla Group - India
- Marubeni Corporation - India
- MS Steel International - UAE
- Thai Mozambique Logistica
- Attock Cement Pakistan Limited
- Billiton Holdings Pty Ltd - Australia
- Baramulti Group, Indonesia
- Coal and Oil Company - UAE
- Borneo Indobara - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Coastal Gujarat Power Limited - India
- Karaikal Port Pvt Ltd - India
- Minerals Council of Australia
- Thiess Contractors Indonesia
- Meralco Power Generation, Philippines
- Semirara Mining Corp, Philippines
- Global Coal Blending Company Limited - Australia
- Bangladesh Power Developement Board
- Barasentosa Lestari - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Bukit Asam (Persero) Tbk - Indonesia
- SN Aboitiz Power Inc, Philippines
- Binh Thuan Hamico - Vietnam
- Miang Besar Coal Terminal - Indonesia
- Bhushan Steel Limited - India
- McConnell Dowell - Australia
- AsiaOL BioFuels Corp., Philippines
- Chettinad Cement Corporation Ltd - India
- Bharathi Cement Corporation - India
- Straits Asia Resources Limited - Singapore
- Jorong Barutama Greston.PT - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Ministry of Finance - Indonesia
- Gujarat Sidhee Cement - India
- Indian Oil Corporation Limited
- Lanco Infratech Ltd - India
- Australian Commodity Traders Exchange
- Mercuria Energy - Indonesia
- Ministry of Mines - Canada
- Goldman Sachs - Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- Rio Tinto Coal - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kapuas Tunggal Persada - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- South Luzon Thermal Energy Corporation
- Georgia Ports Authority, United States
- PTC India Limited - India
- Indian Energy Exchange, India
- Samtan Co., Ltd - South Korea
- Sarangani Energy Corporation, Philippines
- Antam Resourcindo - Indonesia
- Global Business Power Corporation, Philippines
- Carbofer General Trading SA - India
- Rashtriya Ispat Nigam Limited - India
- Cement Manufacturers Association - India
- SMC Global Power, Philippines
- Latin American Coal - Colombia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Malabar Cements Ltd - India
- Sojitz Corporation - Japan
- Formosa Plastics Group - Taiwan
- VISA Power Limited - India
- Manunggal Multi Energi - Indonesia
- Indika Energy - Indonesia
- Kobexindo Tractors - Indoneisa
- Directorate General of MIneral and Coal - Indonesia
- PowerSource Philippines DevCo
- Economic Council, Georgia
- Oldendorff Carriers - Singapore
- Makarim & Taira - Indonesia
- Sakthi Sugars Limited - India
- Iligan Light & Power Inc, Philippines
- Orica Australia Pty. Ltd.
- Semirara Mining and Power Corporation, Philippines
- Bhatia International Limited - India
- Ministry of Transport, Egypt
- SMG Consultants - Indonesia
- Aboitiz Power Corporation - Philippines
- Mercator Lines Limited - India
- Indonesian Coal Mining Association
- IHS Mccloskey Coal Group - USA
- Simpson Spence & Young - Indonesia
- LBH Netherlands Bv - Netherlands
- Holcim Trading Pte Ltd - Singapore
- Edison Trading Spa - Italy
- Banpu Public Company Limited - Thailand
- Sinarmas Energy and Mining - Indonesia
- Pendopo Energi Batubara - Indonesia
- Indogreen Group - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Deloitte Consulting - India
- Sree Jayajothi Cements Limited - India
- Eastern Coal Council - USA
- Merrill Lynch Commodities Europe
- Global Green Power PLC Corporation, Philippines
- Jaiprakash Power Ventures ltd
|
| |
| |
|
