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.
|
|
Thursday, 03 March 16
BDI FURTHER STRENGTHENING; THE INCREASE IN RATES WAS NOT SUBSTANTIAL
COALspot.com: The BDI closed off on a positive note for a second week in a row, further strengthening the belief that the market might be bottoming ...
Thursday, 03 March 16
RIO TINTO COMPLETES SALE OF INTEREST IN BENGALLA JOINT VENTURE FOR US$616.7 MILLION
COALspot.com: Rio Tinto has completed the sale of its 40 per cent interest in the Bengalla coal Joint Venture in Australia to New Hope Corporation ...
Wednesday, 02 March 16
RE-EVALUATION OF MINING LICENSES CLEAN AND CLEAR STATUS IN INDONESIA
COALspot.com: In connection with the transfer of mining authority from Regents/Mayors to Governors1 and from Regents/Mayors and Governors to t ...
Wednesday, 02 March 16
OIL MY GOD.....!!!!
OIL my GOD….!!!!
The oil price “crash” that started in 2014 was caused by a glut of practically unwanted oil. Producers had be ...
Tuesday, 01 March 16
CS 42 (4200 GAR) COAL INDEX CLOSED AT US$ 27.11 A TON ON 26 FEBRUARY
COALspot.com: Average 5000 GAR coal index of Indonesian origin decline 0.31 percent week over week to averaging $38.77 per ton on this past Friday, ...
|
|
|
Showing 2541 to 2545 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- ASAPP Information Group - India
- Economic Council, Georgia
- Parry Sugars Refinery, India
- India Bulls Power Limited - India
- Renaissance Capital - South Africa
- Orica Mining Services - Indonesia
- Altura Mining Limited, Indonesia
- Indian Energy Exchange, India
- Sinarmas Energy and Mining - Indonesia
- Tamil Nadu electricity Board
- Mintek Dendrill Indonesia
- SMG Consultants - Indonesia
- Jindal Steel & Power Ltd - India
- Bayan Resources Tbk. - Indonesia
- Manunggal Multi Energi - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Sojitz Corporation - Japan
- Mercator Lines Limited - India
- Directorate Of Revenue Intelligence - India
- Meralco Power Generation, Philippines
- Price Waterhouse Coopers - Russia
- Electricity Authority, New Zealand
- Kumho Petrochemical, South Korea
- London Commodity Brokers - England
- Aditya Birla Group - India
- Thai Mozambique Logistica
- Savvy Resources Ltd - HongKong
- Eastern Coal Council - USA
- Vizag Seaport Private Limited - India
- Miang Besar Coal Terminal - Indonesia
- Toyota Tsusho Corporation, Japan
- Uttam Galva Steels Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- New Zealand Coal & Carbon
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Eastern Energy - Thailand
- Lanco Infratech Ltd - India
- San Jose City I Power Corp, Philippines
- Essar Steel Hazira Ltd - India
- Indogreen Group - Indonesia
- Georgia Ports Authority, United States
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Standard Chartered Bank - UAE
- Banpu Public Company Limited - Thailand
- The University of Queensland
- Deloitte Consulting - India
- Bangladesh Power Developement Board
- Ministry of Mines - Canada
- Vedanta Resources Plc - India
- Bukit Asam (Persero) Tbk - Indonesia
- White Energy Company Limited
- Coal and Oil Company - UAE
- OPG Power Generation Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Indika Energy - Indonesia
- Kobexindo Tractors - Indoneisa
- Pipit Mutiara Jaya. PT, Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Rio Tinto Coal - Australia
- Petron Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Pendopo Energi Batubara - Indonesia
- Goldman Sachs - Singapore
- Central Java Power - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Agrawal Coal Company - India
- CIMB Investment Bank - Malaysia
- AsiaOL BioFuels Corp., Philippines
- Power Finance Corporation Ltd., India
- Globalindo Alam Lestari - Indonesia
- Energy Link Ltd, New Zealand
- Madhucon Powers Ltd - India
- PTC India Limited - India
- Grasim Industreis Ltd - India
- Ambuja Cements Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Bukit Makmur.PT - Indonesia
- Tata Chemicals Ltd - India
- The State Trading Corporation of India Ltd
- Anglo American - United Kingdom
- Port Waratah Coal Services - Australia
- Indo Tambangraya Megah - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Makarim & Taira - Indonesia
- Mercuria Energy - Indonesia
- VISA Power Limited - India
- Krishnapatnam Port Company Ltd. - India
- Planning Commission, India
- Global Green Power PLC Corporation, Philippines
- Coalindo Energy - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Dalmia Cement Bharat India
- Cigading International Bulk Terminal - Indonesia
- Kartika Selabumi Mining - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Oldendorff Carriers - Singapore
- Latin American Coal - Colombia
- Edison Trading Spa - Italy
- Wilmar Investment Holdings
- Maheswari Brothers Coal Limited - India
- Minerals Council of Australia
- Marubeni Corporation - India
- Meenaskhi Energy Private Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indian Oil Corporation Limited
- Offshore Bulk Terminal Pte Ltd, Singapore
- Siam City Cement PLC, Thailand
- Semirara Mining and Power Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- LBH Netherlands Bv - Netherlands
- McConnell Dowell - Australia
- GAC Shipping (India) Pvt Ltd
- Leighton Contractors Pty Ltd - Australia
- Maharashtra Electricity Regulatory Commission - India
- Bhatia International Limited - India
- Malabar Cements Ltd - India
- Independent Power Producers Association of India
- Kaltim Prima Coal - Indonesia
- Sical Logistics Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bhushan Steel Limited - India
- Carbofer General Trading SA - India
- Sindya Power Generating Company Private Ltd
- PNOC Exploration Corporation - Philippines
- Chettinad Cement Corporation Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Formosa Plastics Group - Taiwan
- Semirara Mining Corp, Philippines
- Kideco Jaya Agung - Indonesia
- Parliament of New Zealand
- Coastal Gujarat Power Limited - India
- Videocon Industries ltd - India
- Bharathi Cement Corporation - India
- Australian Commodity Traders Exchange
- ICICI Bank Limited - India
- IEA Clean Coal Centre - UK
- Singapore Mercantile Exchange
- CNBM International Corporation - China
- Posco Energy - South Korea
- The Treasury - Australian Government
- Star Paper Mills Limited - India
- Karaikal Port Pvt Ltd - India
- Australian Coal Association
- Merrill Lynch Commodities Europe
- Kapuas Tunggal Persada - Indonesia
- Antam Resourcindo - Indonesia
- Trasteel International SA, Italy
- Jaiprakash Power Ventures ltd
- Bukit Baiduri Energy - Indonesia
- Siam City Cement - Thailand
- Romanian Commodities Exchange
- GN Power Mariveles Coal Plant, Philippines
- Sarangani Energy Corporation, Philippines
- PowerSource Philippines DevCo
- South Luzon Thermal Energy Corporation
- Straits Asia Resources Limited - Singapore
- Bulk Trading Sa - Switzerland
- Africa Commodities Group - South Africa
- Baramulti Group, Indonesia
- Commonwealth Bank - Australia
- Barasentosa Lestari - Indonesia
- European Bulk Services B.V. - Netherlands
- Sakthi Sugars Limited - India
- Wood Mackenzie - Singapore
- Simpson Spence & Young - Indonesia
- Timah Investasi Mineral - Indoneisa
- IHS Mccloskey Coal Group - USA
- Ministry of Transport, Egypt
- Indonesian Coal Mining Association
- GVK Power & Infra Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Borneo Indobara - Indonesia
- Ceylon Electricity Board - Sri Lanka
- International Coal Ventures Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bhoruka Overseas - Indonesia
- SN Aboitiz Power Inc, Philippines
- Aboitiz Power Corporation - Philippines
- SMC Global Power, Philippines
- Central Electricity Authority - India
- Interocean Group of Companies - India
- Chamber of Mines of South Africa
- GMR Energy Limited - India
- Ind-Barath Power Infra Limited - India
- Heidelberg Cement - Germany
- Riau Bara Harum - Indonesia
- Global Business Power Corporation, Philippines
- Xindia Steels Limited - India
- PetroVietnam Power Coal Import and Supply Company
- TNB Fuel Sdn Bhd - Malaysia
- Cement Manufacturers Association - India
- Attock Cement Pakistan Limited
- Energy Development Corp, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Orica Australia Pty. Ltd.
- Therma Luzon, Inc, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Asmin Koalindo Tuhup - Indonesia
- Intertek Mineral Services - Indonesia
- Iligan Light & Power Inc, Philippines
- Mjunction Services Limited - India
- Electricity Generating Authority of Thailand
- TeaM Sual Corporation - Philippines
- Rashtriya Ispat Nigam Limited - India
- Metalloyd Limited - United Kingdom
- Thiess Contractors Indonesia
- Sree Jayajothi Cements Limited - India
- Samtan Co., Ltd - South Korea
- MS Steel International - UAE
- Kepco SPC Power Corporation, Philippines
- Gujarat Sidhee Cement - India
- Binh Thuan Hamico - Vietnam
- Ministry of Finance - Indonesia
- Larsen & Toubro Limited - India
- Medco Energi Mining Internasional
- Salva Resources Pvt Ltd - India
|
| |
| |
|
