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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, 09 September 15
FOB INDONESIA COAL SWAP LOSE GROUND ON SLOWING DEMAND
COALspot.com: Indonesian coal swap for delivery 4Q 2015 declined month on month and week over week.
The 4Q swap declined $ 1.92 (-4.52%) per t ...
Tuesday, 08 September 15
FOB RICHARDS BAY COAL SWAPS CONTINUE TO SHOW DECLINING TREND
COALspot.com: API4 FOB Richards Bay Coal swap for delivery 4Q' 2015 declined week over week and month over month.
The 4Q swap was down US$ ...
Tuesday, 08 September 15
GANGAVARAM PORT IN INDIA DISCHARGES RECORD 112,599 MT OF STEAM COAL IN 24 HOURS
COALspot.com: Gangavaram Port, an all weather, multipurpose port with water depth up-to 21 meters, capable of handling fully laden Super Cap ...
Monday, 07 September 15
THE MINE OF THE FUTURE WILL HAVE ONLY TWO EMPLOYEES, A MAN AND A DOG - SCOTT MCGOWAN
"The Technology and Innovation in Mining 2015" production team at Information Exchange Group interviewed Scott Mcgowan, Director, Global ...
Monday, 07 September 15
FOB NEWCASTLE COAL SWAP FOR Q2' 16 DELIVERY CLOSED US CENTS 25 LOWER COMPARED TO Q4' 15
COALspot.com: API 5 FOB Newcastle Coal swap for 4Q’ 2015 delivery declined $0.73 per MT (-1.68%) month over month to US$ 42.65 per mt. The sw ...
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- CNBM International Corporation - China
- Metalloyd Limited - United Kingdom
- Bayan Resources Tbk. - Indonesia
- The State Trading Corporation of India Ltd
- Bulk Trading Sa - Switzerland
- Global Business Power Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- Therma Luzon, Inc, Philippines
- Orica Mining Services - Indonesia
- Marubeni Corporation - India
- MS Steel International - UAE
- Tata Chemicals Ltd - India
- Mercuria Energy - Indonesia
- Larsen & Toubro Limited - India
- Grasim Industreis Ltd - India
- PNOC Exploration Corporation - Philippines
- Bharathi Cement Corporation - India
- Indonesian Coal Mining Association
- Binh Thuan Hamico - Vietnam
- Ministry of Finance - Indonesia
- Anglo American - United Kingdom
- Indian Oil Corporation Limited
- Lanco Infratech Ltd - India
- White Energy Company Limited
- Aboitiz Power Corporation - Philippines
- Kaltim Prima Coal - Indonesia
- Georgia Ports Authority, United States
- Kumho Petrochemical, South Korea
- Straits Asia Resources Limited - Singapore
- Petron Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- Chettinad Cement Corporation Ltd - India
- Barasentosa Lestari - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Siam City Cement PLC, Thailand
- Oldendorff Carriers - Singapore
- Bhoruka Overseas - Indonesia
- Australian Commodity Traders Exchange
- Antam Resourcindo - Indonesia
- Bukit Baiduri Energy - Indonesia
- Economic Council, Georgia
- Coastal Gujarat Power Limited - India
- Ceylon Electricity Board - Sri Lanka
- Sinarmas Energy and Mining - Indonesia
- Vizag Seaport Private Limited - India
- Sree Jayajothi Cements Limited - India
- TeaM Sual Corporation - Philippines
- Formosa Plastics Group - Taiwan
- Thai Mozambique Logistica
- South Luzon Thermal Energy Corporation
- SMC Global Power, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Salva Resources Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- Savvy Resources Ltd - HongKong
- GMR Energy Limited - India
- Rashtriya Ispat Nigam Limited - India
- Power Finance Corporation Ltd., India
- Independent Power Producers Association of India
- PetroVietnam Power Coal Import and Supply Company
- Sojitz Corporation - Japan
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Star Paper Mills Limited - India
- Iligan Light & Power Inc, Philippines
- Price Waterhouse Coopers - Russia
- IHS Mccloskey Coal Group - USA
- Central Java Power - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Port Waratah Coal Services - Australia
- Indika Energy - Indonesia
- Jindal Steel & Power Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Coal and Oil Company - UAE
- Essar Steel Hazira Ltd - India
- Electricity Authority, New Zealand
- Agrawal Coal Company - India
- Makarim & Taira - Indonesia
- Interocean Group of Companies - India
- Videocon Industries ltd - India
- Samtan Co., Ltd - South Korea
- Meenaskhi Energy Private Limited - India
- Dalmia Cement Bharat India
- Kapuas Tunggal Persada - Indonesia
- CIMB Investment Bank - Malaysia
- IEA Clean Coal Centre - UK
- Meralco Power Generation, Philippines
- Medco Energi Mining Internasional
- Indian Energy Exchange, India
- GVK Power & Infra Limited - India
- Electricity Generating Authority of Thailand
- Neyveli Lignite Corporation Ltd, - India
- Standard Chartered Bank - UAE
- Kalimantan Lumbung Energi - Indonesia
- OPG Power Generation Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- Bhushan Steel Limited - India
- Coalindo Energy - Indonesia
- PowerSource Philippines DevCo
- Parliament of New Zealand
- Attock Cement Pakistan Limited
- Minerals Council of Australia
- VISA Power Limited - India
- Gujarat Sidhee Cement - India
- Global Coal Blending Company Limited - Australia
- Bhatia International Limited - India
- Vedanta Resources Plc - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Energy Development Corp, Philippines
- Semirara Mining Corp, Philippines
- SN Aboitiz Power Inc, Philippines
- Leighton Contractors Pty Ltd - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Mjunction Services Limited - India
- PTC India Limited - India
- The Treasury - Australian Government
- GAC Shipping (India) Pvt Ltd
- Madhucon Powers Ltd - India
- Goldman Sachs - Singapore
- Commonwealth Bank - Australia
- Sakthi Sugars Limited - India
- Simpson Spence & Young - Indonesia
- Heidelberg Cement - Germany
- Thiess Contractors Indonesia
- Aditya Birla Group - India
- Sindya Power Generating Company Private Ltd
- Holcim Trading Pte Ltd - Singapore
- Karaikal Port Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Wilmar Investment Holdings
- Carbofer General Trading SA - India
- International Coal Ventures Pvt Ltd - India
- Orica Australia Pty. Ltd.
- TNB Fuel Sdn Bhd - Malaysia
- Altura Mining Limited, Indonesia
- Africa Commodities Group - South Africa
- Kartika Selabumi Mining - Indonesia
- Energy Link Ltd, New Zealand
- Kideco Jaya Agung - Indonesia
- Trasteel International SA, Italy
- Bukit Asam (Persero) Tbk - Indonesia
- Chamber of Mines of South Africa
- Offshore Bulk Terminal Pte Ltd, Singapore
- Timah Investasi Mineral - Indoneisa
- India Bulls Power Limited - India
- London Commodity Brokers - England
- Parry Sugars Refinery, India
- Deloitte Consulting - India
- Merrill Lynch Commodities Europe
- Siam City Cement - Thailand
- Karbindo Abesyapradhi - Indoneisa
- Vijayanagar Sugar Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- The University of Queensland
- Uttam Galva Steels Limited - India
- Gujarat Electricity Regulatory Commission - India
- Indogreen Group - Indonesia
- Ind-Barath Power Infra Limited - India
- Singapore Mercantile Exchange
- ASAPP Information Group - India
- Central Electricity Authority - India
- Posco Energy - South Korea
- Sarangani Energy Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Toyota Tsusho Corporation, Japan
- Rio Tinto Coal - Australia
- Eastern Energy - Thailand
- Directorate General of MIneral and Coal - Indonesia
- New Zealand Coal & Carbon
- Gujarat Mineral Development Corp Ltd - India
- Mintek Dendrill Indonesia
- ICICI Bank Limited - India
- Renaissance Capital - South Africa
- Indo Tambangraya Megah - Indonesia
- Borneo Indobara - Indonesia
- Bangladesh Power Developement Board
- Intertek Mineral Services - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Maharashtra Electricity Regulatory Commission - India
- European Bulk Services B.V. - Netherlands
- Riau Bara Harum - Indonesia
- Globalindo Alam Lestari - Indonesia
- Tamil Nadu electricity Board
- Australian Coal Association
- Planning Commission, India
- Global Green Power PLC Corporation, Philippines
- Ministry of Transport, Egypt
- Romanian Commodities Exchange
- Wood Mackenzie - Singapore
- Mercator Lines Limited - India
- San Jose City I Power Corp, Philippines
- Alfred C Toepfer International GmbH - Germany
- Latin American Coal - Colombia
- Jorong Barutama Greston.PT - Indonesia
- Jaiprakash Power Ventures ltd
- Eastern Coal Council - USA
- Sical Logistics Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Banpu Public Company Limited - Thailand
- Xindia Steels Limited - India
- LBH Netherlands Bv - Netherlands
- Cement Manufacturers Association - India
- Maheswari Brothers Coal Limited - India
- Kepco SPC Power Corporation, Philippines
- Ambuja Cements Ltd - India
- McConnell Dowell - Australia
- Ministry of Mines - Canada
- Edison Trading Spa - Italy
- Baramulti Group, Indonesia
- Malabar Cements Ltd - India
- SMG Consultants - Indonesia
- Manunggal Multi Energi - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
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