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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 $152 million selling shares in an August IPO.
Source: Bloomberg ( By Jesse Riseborough and Yoga Rusmana )
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Friday, 03 July 15
U.S DELIVERS WEAK FIRST HALF COAL PRODUCTION; 8.8% LOWER Y-O-Y
COALspot.com – United States the second largest coal producer in the world has produced approximately totaled an estimated 15.5 million short ...
Friday, 03 July 15
SHIPPING CONFIDENCE EQUALS SEVEN-YEAR LOW - MOORE STEPHENS
Overall confidence levels in the shipping industry fell during the three months to May 2015 to a level equal to the lowest rating recorded in the p ...
Thursday, 02 July 15
TECHNOLOGY AND INNOVATION IN MINING 2015 - IXG
Information Exchange Group’s Technology and Innovation in Mining 2015- International Summit on Mining
Press Release: The inaugural editi ...
Thursday, 02 July 15
THE PERFORMANCE OF THE CAPESIZE SEGMENT PUSHED DRY BULK MARKET TO UPWARD LAST WEEK
COALspot.com: The Dry Bulk market continued its upward movement last week, with the BDI closing off on Friday (26 June) in excess of 800 points, wh ...
Wednesday, 01 July 15
Q4'15 AND Q1'16 FOB RICHARDS BAY COAL SWAPS ROSE W-O-W AND M-O-M
COALspot.com: API4 FOB Richards Bay Coal swap for delivery Q3' 2015 rose month over month and down week over week.
The Q3 swap was up US$ ...
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- Kumho Petrochemical, South Korea
- MS Steel International - UAE
- Altura Mining Limited, Indonesia
- Orica Mining Services - Indonesia
- Wilmar Investment Holdings
- Merrill Lynch Commodities Europe
- ICICI Bank Limited - India
- Semirara Mining and Power Corporation, Philippines
- Uttam Galva Steels Limited - India
- Larsen & Toubro Limited - India
- LBH Netherlands Bv - Netherlands
- Rio Tinto Coal - Australia
- Coal and Oil Company - UAE
- India Bulls Power Limited - India
- SN Aboitiz Power Inc, Philippines
- GVK Power & Infra Limited - India
- Holcim Trading Pte Ltd - Singapore
- Leighton Contractors Pty Ltd - Australia
- Borneo Indobara - Indonesia
- Sindya Power Generating Company Private Ltd
- Global Coal Blending Company Limited - Australia
- Directorate Of Revenue Intelligence - India
- Neyveli Lignite Corporation Ltd, - India
- Parliament of New Zealand
- Vizag Seaport Private Limited - India
- Karaikal Port Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Manunggal Multi Energi - Indonesia
- Medco Energi Mining Internasional
- Bhatia International Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Indika Energy - Indonesia
- Kartika Selabumi Mining - Indonesia
- Anglo American - United Kingdom
- Bahari Cakrawala Sebuku - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- The University of Queensland
- Sojitz Corporation - Japan
- Rashtriya Ispat Nigam Limited - India
- Bangladesh Power Developement Board
- Electricity Generating Authority of Thailand
- Central Java Power - Indonesia
- European Bulk Services B.V. - Netherlands
- Singapore Mercantile Exchange
- Interocean Group of Companies - India
- Australian Coal Association
- Mintek Dendrill Indonesia
- TeaM Sual Corporation - Philippines
- Tamil Nadu electricity Board
- Sree Jayajothi Cements Limited - India
- Kobexindo Tractors - Indoneisa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- International Coal Ventures Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- Georgia Ports Authority, United States
- London Commodity Brokers - England
- White Energy Company Limited
- Salva Resources Pvt Ltd - India
- Parry Sugars Refinery, India
- PowerSource Philippines DevCo
- Latin American Coal - Colombia
- Central Electricity Authority - India
- Pipit Mutiara Jaya. PT, Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Mercuria Energy - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Attock Cement Pakistan Limited
- GN Power Mariveles Coal Plant, Philippines
- Ind-Barath Power Infra Limited - India
- Sarangani Energy Corporation, Philippines
- Chamber of Mines of South Africa
- Independent Power Producers Association of India
- Indian Energy Exchange, India
- Mjunction Services Limited - India
- Gujarat Sidhee Cement - India
- Ambuja Cements Ltd - India
- Dalmia Cement Bharat India
- Bukit Asam (Persero) Tbk - Indonesia
- Cement Manufacturers Association - India
- Binh Thuan Hamico - Vietnam
- Eastern Coal Council - USA
- Africa Commodities Group - South Africa
- Bukit Makmur.PT - Indonesia
- Energy Development Corp, Philippines
- Pendopo Energi Batubara - Indonesia
- Deloitte Consulting - India
- Indian Oil Corporation Limited
- SMG Consultants - Indonesia
- Metalloyd Limited - United Kingdom
- Jorong Barutama Greston.PT - Indonesia
- Australian Commodity Traders Exchange
- Carbofer General Trading SA - India
- Cigading International Bulk Terminal - Indonesia
- Siam City Cement - Thailand
- Chettinad Cement Corporation Ltd - India
- Ministry of Mines - Canada
- Bank of Tokyo Mitsubishi UFJ Ltd
- Heidelberg Cement - Germany
- Kalimantan Lumbung Energi - Indonesia
- Timah Investasi Mineral - Indoneisa
- GMR Energy Limited - India
- Banpu Public Company Limited - Thailand
- Ministry of Transport, Egypt
- Indogreen Group - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Posco Energy - South Korea
- SMC Global Power, Philippines
- Kepco SPC Power Corporation, Philippines
- Star Paper Mills Limited - India
- The State Trading Corporation of India Ltd
- Romanian Commodities Exchange
- Wood Mackenzie - Singapore
- Xindia Steels Limited - India
- Thai Mozambique Logistica
- Malabar Cements Ltd - India
- South Luzon Thermal Energy Corporation
- Ministry of Finance - Indonesia
- PTC India Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Maheswari Brothers Coal Limited - India
- Kaltim Prima Coal - Indonesia
- Mercator Lines Limited - India
- Vedanta Resources Plc - India
- Meralco Power Generation, Philippines
- Bukit Baiduri Energy - Indonesia
- Kideco Jaya Agung - Indonesia
- Therma Luzon, Inc, Philippines
- Global Business Power Corporation, Philippines
- IEA Clean Coal Centre - UK
- Siam City Cement PLC, Thailand
- ASAPP Information Group - India
- McConnell Dowell - Australia
- Goldman Sachs - Singapore
- Sical Logistics Limited - India
- Minerals Council of Australia
- OPG Power Generation Pvt Ltd - India
- Standard Chartered Bank - UAE
- Eastern Energy - Thailand
- VISA Power Limited - India
- Petron Corporation, Philippines
- Bulk Trading Sa - Switzerland
- Jaiprakash Power Ventures ltd
- Ceylon Electricity Board - Sri Lanka
- Petrochimia International Co. Ltd.- Taiwan
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Formosa Plastics Group - Taiwan
- AsiaOL BioFuels Corp., Philippines
- Simpson Spence & Young - Indonesia
- Globalindo Alam Lestari - Indonesia
- CNBM International Corporation - China
- Bhoruka Overseas - Indonesia
- Electricity Authority, New Zealand
- Coalindo Energy - Indonesia
- Videocon Industries ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Meenaskhi Energy Private Limited - India
- Alfred C Toepfer International GmbH - Germany
- Bharathi Cement Corporation - India
- Aditya Birla Group - India
- Port Waratah Coal Services - Australia
- Riau Bara Harum - Indonesia
- Essar Steel Hazira Ltd - India
- Lanco Infratech Ltd - India
- Baramulti Group, Indonesia
- The Treasury - Australian Government
- San Jose City I Power Corp, Philippines
- Intertek Mineral Services - Indonesia
- Aboitiz Power Corporation - Philippines
- Oldendorff Carriers - Singapore
- Global Green Power PLC Corporation, Philippines
- Antam Resourcindo - Indonesia
- Price Waterhouse Coopers - Russia
- Straits Asia Resources Limited - Singapore
- Samtan Co., Ltd - South Korea
- Sakthi Sugars Limited - India
- Tata Chemicals Ltd - India
- Power Finance Corporation Ltd., India
- Asmin Koalindo Tuhup - Indonesia
- Grasim Industreis Ltd - India
- Thiess Contractors Indonesia
- Semirara Mining Corp, Philippines
- Bhushan Steel Limited - India
- Gujarat Electricity Regulatory Commission - India
- Orica Australia Pty. Ltd.
- Marubeni Corporation - India
- Makarim & Taira - Indonesia
- Coastal Gujarat Power Limited - India
- Planning Commission, India
- Renaissance Capital - South Africa
- Krishnapatnam Port Company Ltd. - India
- Savvy Resources Ltd - HongKong
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Edison Trading Spa - Italy
- Economic Council, Georgia
- Barasentosa Lestari - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- CIMB Investment Bank - Malaysia
- Energy Link Ltd, New Zealand
- Maharashtra Electricity Regulatory Commission - India
- Toyota Tsusho Corporation, Japan
- Trasteel International SA, Italy
- IHS Mccloskey Coal Group - USA
- New Zealand Coal & Carbon
- TNB Fuel Sdn Bhd - Malaysia
- Agrawal Coal Company - India
- Indonesian Coal Mining Association
- Jindal Steel & Power Ltd - India
- Madhucon Powers Ltd - India
- PNOC Exploration Corporation - Philippines
- Bayan Resources Tbk. - Indonesia
- Iligan Light & Power Inc, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Indo Tambangraya Megah - Indonesia
- Commonwealth Bank - Australia
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