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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 $152 million selling shares in an August IPO.
Source: Bloomberg ( By Jesse Riseborough and Yoga Rusmana )
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Monday, 07 September 15
CFR SOUTH CHINA COAL SWAPS ROSE 1.1 PER CENT WEEK OVER WEEK
COALspot.com: API 8 CFR South China Coal swap for 4Q’ 2015 delivery declined just US$ 1.52 (3 %) per MT month over month.
A commodity sw ...
Sunday, 06 September 15
AUTOMATION AND TECHNOLOGY IS CERTAINLY PART OF THE SOLUTION FOR IMPROVING PERFORMANCE AND EFFICIENCY TO MAKE THE MINE OPERATIONS MORE PROFITABLE, HOWEVER............ - LUKE JALSEVAC
"The Technology and Innovation in Mining 2015" production team at Information Exchange Group interviewed Luke Jalsevac, Director, Busines ...
Sunday, 06 September 15
THE CAPE SIZE INDEX ROSE 10.83 PER CENT WEEK OVER WEEK
COALspot.com: The BDI, the Baltic exchange's main sea freight index, which tracks rates for ships carrying dry bulk commodities, declined o ...
Saturday, 05 September 15
DRY BULK MARKET MAY SUFFER NOW, BUT IS BOUND FOR A RECOVERY THANKS TO A LIMITED FUTURE FLEET GROWTH - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The slow increase of dry bulk tonnage growth this year could turn into a solid indicator of the market’s future prospects. According to a rec ...
Friday, 04 September 15
U.S. COAL PRODUCTION FOR THE W/E AUGUST 29, UP SLIGHTLY; FALL 4.5 PERCENT Y-Y: EIA
COALspot.com – United States the world’s second largest coal producer has produced approximately totaled an estimated 18.7 million shor ...
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- Uttam Galva Steels Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Coalindo Energy - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Interocean Group of Companies - India
- Jaiprakash Power Ventures ltd
- Holcim Trading Pte Ltd - Singapore
- Ambuja Cements Ltd - India
- International Coal Ventures Pvt Ltd - India
- Tamil Nadu electricity Board
- Commonwealth Bank - Australia
- The Treasury - Australian Government
- Wilmar Investment Holdings
- The State Trading Corporation of India Ltd
- Salva Resources Pvt Ltd - India
- Sical Logistics Limited - India
- Larsen & Toubro Limited - India
- The University of Queensland
- Sarangani Energy Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- ASAPP Information Group - India
- Kideco Jaya Agung - Indonesia
- Cement Manufacturers Association - India
- Vizag Seaport Private Limited - India
- Karaikal Port Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Bangladesh Power Developement Board
- Sree Jayajothi Cements Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Samtan Co., Ltd - South Korea
- LBH Netherlands Bv - Netherlands
- Barasentosa Lestari - Indonesia
- Anglo American - United Kingdom
- Coal and Oil Company - UAE
- Energy Development Corp, Philippines
- Latin American Coal - Colombia
- Directorate General of MIneral and Coal - Indonesia
- Global Coal Blending Company Limited - Australia
- Maharashtra Electricity Regulatory Commission - India
- SN Aboitiz Power Inc, Philippines
- Gujarat Sidhee Cement - India
- Attock Cement Pakistan Limited
- GAC Shipping (India) Pvt Ltd
- Altura Mining Limited, Indonesia
- Siam City Cement - Thailand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bukit Makmur.PT - Indonesia
- Meralco Power Generation, Philippines
- New Zealand Coal & Carbon
- Kumho Petrochemical, South Korea
- TNB Fuel Sdn Bhd - Malaysia
- Gujarat Electricity Regulatory Commission - India
- Star Paper Mills Limited - India
- Xindia Steels Limited - India
- Sakthi Sugars Limited - India
- London Commodity Brokers - England
- Mjunction Services Limited - India
- Kaltim Prima Coal - Indonesia
- Africa Commodities Group - South Africa
- Thai Mozambique Logistica
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Orica Mining Services - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Bharathi Cement Corporation - India
- Bahari Cakrawala Sebuku - Indonesia
- Sojitz Corporation - Japan
- TeaM Sual Corporation - Philippines
- Madhucon Powers Ltd - India
- Indonesian Coal Mining Association
- Power Finance Corporation Ltd., India
- Kalimantan Lumbung Energi - Indonesia
- Leighton Contractors Pty Ltd - Australia
- VISA Power Limited - India
- Billiton Holdings Pty Ltd - Australia
- Bhushan Steel Limited - India
- Deloitte Consulting - India
- Kobexindo Tractors - Indoneisa
- GVK Power & Infra Limited - India
- Cigading International Bulk Terminal - Indonesia
- Romanian Commodities Exchange
- South Luzon Thermal Energy Corporation
- Parliament of New Zealand
- Ceylon Electricity Board - Sri Lanka
- Straits Asia Resources Limited - Singapore
- Antam Resourcindo - Indonesia
- Kapuas Tunggal Persada - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Global Green Power PLC Corporation, Philippines
- Malabar Cements Ltd - India
- Makarim & Taira - Indonesia
- Dalmia Cement Bharat India
- Electricity Generating Authority of Thailand
- Independent Power Producers Association of India
- Thiess Contractors Indonesia
- Goldman Sachs - Singapore
- Bulk Trading Sa - Switzerland
- Mercuria Energy - Indonesia
- Economic Council, Georgia
- Indo Tambangraya Megah - Indonesia
- Eastern Energy - Thailand
- Merrill Lynch Commodities Europe
- Trasteel International SA, Italy
- Formosa Plastics Group - Taiwan
- Indika Energy - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Grasim Industreis Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Marubeni Corporation - India
- CNBM International Corporation - China
- European Bulk Services B.V. - Netherlands
- Pipit Mutiara Jaya. PT, Indonesia
- Ind-Barath Power Infra Limited - India
- Electricity Authority, New Zealand
- Essar Steel Hazira Ltd - India
- Sindya Power Generating Company Private Ltd
- Bhatia International Limited - India
- Directorate Of Revenue Intelligence - India
- Australian Coal Association
- Pendopo Energi Batubara - Indonesia
- Ministry of Transport, Egypt
- Baramulti Group, Indonesia
- Heidelberg Cement - Germany
- Agrawal Coal Company - India
- IHS Mccloskey Coal Group - USA
- Global Business Power Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Minerals Council of Australia
- Siam City Cement PLC, Thailand
- Banpu Public Company Limited - Thailand
- Semirara Mining Corp, Philippines
- Borneo Indobara - Indonesia
- Therma Luzon, Inc, Philippines
- Chettinad Cement Corporation Ltd - India
- Ministry of Mines - Canada
- PNOC Exploration Corporation - Philippines
- Standard Chartered Bank - UAE
- Chamber of Mines of South Africa
- Manunggal Multi Energi - Indonesia
- OPG Power Generation Pvt Ltd - India
- McConnell Dowell - Australia
- Petron Corporation, Philippines
- PowerSource Philippines DevCo
- Riau Bara Harum - Indonesia
- Medco Energi Mining Internasional
- IEA Clean Coal Centre - UK
- Price Waterhouse Coopers - Russia
- Georgia Ports Authority, United States
- Planning Commission, India
- Rio Tinto Coal - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Indian Energy Exchange, India
- Aboitiz Power Corporation - Philippines
- Central Electricity Authority - India
- Binh Thuan Hamico - Vietnam
- Coastal Gujarat Power Limited - India
- PTC India Limited - India
- Intertek Mineral Services - Indonesia
- Metalloyd Limited - United Kingdom
- Oldendorff Carriers - Singapore
- GMR Energy Limited - India
- Tata Chemicals Ltd - India
- Carbofer General Trading SA - India
- Eastern Coal Council - USA
- Jindal Steel & Power Ltd - India
- Bhoruka Overseas - Indonesia
- Bukit Baiduri Energy - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Singapore Mercantile Exchange
- MS Steel International - UAE
- White Energy Company Limited
- Krishnapatnam Port Company Ltd. - India
- Lanco Infratech Ltd - India
- Ministry of Finance - Indonesia
- India Bulls Power Limited - India
- Meenaskhi Energy Private Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Videocon Industries ltd - India
- Indian Oil Corporation Limited
- Simpson Spence & Young - Indonesia
- Indogreen Group - Indonesia
- Edison Trading Spa - Italy
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Wood Mackenzie - Singapore
- Maheswari Brothers Coal Limited - India
- Bayan Resources Tbk. - Indonesia
- Iligan Light & Power Inc, Philippines
- Posco Energy - South Korea
- Timah Investasi Mineral - Indoneisa
- CIMB Investment Bank - Malaysia
- Central Java Power - Indonesia
- SMC Global Power, Philippines
- Mercator Lines Limited - India
- Energy Link Ltd, New Zealand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Renaissance Capital - South Africa
- Kohat Cement Company Ltd. - Pakistan
- ICICI Bank Limited - India
- Port Waratah Coal Services - Australia
- Orica Australia Pty. Ltd.
- Kepco SPC Power Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Aditya Birla Group - India
- Kartika Selabumi Mining - Indonesia
- Toyota Tsusho Corporation, Japan
- AsiaOL BioFuels Corp., Philippines
- Jorong Barutama Greston.PT - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Vedanta Resources Plc - India
- SMG Consultants - Indonesia
- Australian Commodity Traders Exchange
- Savvy Resources Ltd - HongKong
- Mintek Dendrill Indonesia
- Semirara Mining and Power Corporation, Philippines
- Parry Sugars Refinery, India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- San Jose City I Power Corp, Philippines
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