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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 $152 million selling shares in an August IPO.
Source: Bloomberg ( By Jesse Riseborough and Yoga Rusmana )
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Wednesday, 18 March 15
Q2 INDONESIAN COAL SWAP DROP 1.45% M-O-M; GAIN 0.63% W-O-W
COALspot.com: Indonesian coal swaps for delivery Q2' 2015 drop month on month and gained week over week.
The Q2 swap fell US$ 0.70 (1.45%) ...
Tuesday, 17 March 15
GAS TO CHALLENGE COAL IN THE ASIAN POWER GENERATION MIX - WOOD MACKENZIE
KNOWLEDGE TO ELEVATE
Wood Mackenzie says that coal is facing increasing competition from gas in the power sector. Coal has dominated as the fu ...
Tuesday, 17 March 15
RIO TINTO PAID US$ 7.1 BILLION IN TAXES IN 2014
COALspot.com: Rio Tinto has published its latest Taxes paid report, detailing the US$7.1 billion in taxes paid by the company around the world in 2 ...
Tuesday, 17 March 15
NEARLY 17% OF US COAL PRODUCTION UNECONOMIC AT CURRENT MARKET PRICING - WOOD MACKENZIE
COALspot.com: Close to 17% of forecast 2015 US coal production is at risk of idling or closure, totalling 162 million short tons (Mst), as these mi ...
Tuesday, 17 March 15
Q3' SA COAL SWAP CLOSED $57.30 PMT W/E 13 MARCH
COALspot.com: API 4 FOB Richards Bay Coal swap for delivery Q2' 2015 declined month over month and gained week on week.
The Q2 swap has fe ...
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- Eastern Coal Council - USA
- Globalindo Alam Lestari - Indonesia
- Central Java Power - Indonesia
- Global Business Power Corporation, Philippines
- Independent Power Producers Association of India
- PetroVietnam Power Coal Import and Supply Company
- Carbofer General Trading SA - India
- CNBM International Corporation - China
- Ind-Barath Power Infra Limited - India
- Oldendorff Carriers - Singapore
- Toyota Tsusho Corporation, Japan
- Romanian Commodities Exchange
- Indonesian Coal Mining Association
- White Energy Company Limited
- Bhushan Steel Limited - India
- Larsen & Toubro Limited - India
- Renaissance Capital - South Africa
- OPG Power Generation Pvt Ltd - India
- Dalmia Cement Bharat India
- Energy Development Corp, Philippines
- Ambuja Cements Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Merrill Lynch Commodities Europe
- Maheswari Brothers Coal Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- GAC Shipping (India) Pvt Ltd
- Australian Commodity Traders Exchange
- Global Green Power PLC Corporation, Philippines
- Essar Steel Hazira Ltd - India
- Directorate Of Revenue Intelligence - India
- South Luzon Thermal Energy Corporation
- Kobexindo Tractors - Indoneisa
- Bangladesh Power Developement Board
- Makarim & Taira - Indonesia
- Trasteel International SA, Italy
- Rashtriya Ispat Nigam Limited - India
- LBH Netherlands Bv - Netherlands
- Wilmar Investment Holdings
- Kalimantan Lumbung Energi - Indonesia
- Siam City Cement PLC, Thailand
- Marubeni Corporation - India
- The State Trading Corporation of India Ltd
- Anglo American - United Kingdom
- Pendopo Energi Batubara - Indonesia
- Economic Council, Georgia
- Indika Energy - Indonesia
- Mercator Lines Limited - India
- Indian Oil Corporation Limited
- Aboitiz Power Corporation - Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Port Waratah Coal Services - Australia
- Vedanta Resources Plc - India
- Global Coal Blending Company Limited - Australia
- International Coal Ventures Pvt Ltd - India
- Australian Coal Association
- Semirara Mining and Power Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Billiton Holdings Pty Ltd - Australia
- Ceylon Electricity Board - Sri Lanka
- Altura Mining Limited, Indonesia
- Price Waterhouse Coopers - Russia
- European Bulk Services B.V. - Netherlands
- Orica Australia Pty. Ltd.
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indo Tambangraya Megah - Indonesia
- Petron Corporation, Philippines
- Bhatia International Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Agrawal Coal Company - India
- London Commodity Brokers - England
- PowerSource Philippines DevCo
- CIMB Investment Bank - Malaysia
- The Treasury - Australian Government
- Cigading International Bulk Terminal - Indonesia
- Jindal Steel & Power Ltd - India
- Aditya Birla Group - India
- Coalindo Energy - Indonesia
- ICICI Bank Limited - India
- Planning Commission, India
- Power Finance Corporation Ltd., India
- AsiaOL BioFuels Corp., Philippines
- Xindia Steels Limited - India
- Samtan Co., Ltd - South Korea
- Minerals Council of Australia
- Ministry of Mines - Canada
- Binh Thuan Hamico - Vietnam
- Gujarat Sidhee Cement - India
- Bukit Makmur.PT - Indonesia
- Grasim Industreis Ltd - India
- Jaiprakash Power Ventures ltd
- Simpson Spence & Young - Indonesia
- Sical Logistics Limited - India
- Meenaskhi Energy Private Limited - India
- Malabar Cements Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Uttam Galva Steels Limited - India
- Thai Mozambique Logistica
- Attock Cement Pakistan Limited
- Lanco Infratech Ltd - India
- MS Steel International - UAE
- GMR Energy Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Timah Investasi Mineral - Indoneisa
- Manunggal Multi Energi - Indonesia
- Africa Commodities Group - South Africa
- Coal and Oil Company - UAE
- SMC Global Power, Philippines
- Posco Energy - South Korea
- Electricity Generating Authority of Thailand
- Rio Tinto Coal - Australia
- Mjunction Services Limited - India
- Intertek Mineral Services - Indonesia
- Electricity Authority, New Zealand
- Sree Jayajothi Cements Limited - India
- Latin American Coal - Colombia
- Central Electricity Authority - India
- Standard Chartered Bank - UAE
- Bukit Baiduri Energy - Indonesia
- Tata Chemicals Ltd - India
- Singapore Mercantile Exchange
- Mercuria Energy - Indonesia
- Bharathi Cement Corporation - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sojitz Corporation - Japan
- Indogreen Group - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Antam Resourcindo - Indonesia
- GVK Power & Infra Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Deloitte Consulting - India
- Sinarmas Energy and Mining - Indonesia
- Metalloyd Limited - United Kingdom
- The University of Queensland
- PTC India Limited - India
- Cement Manufacturers Association - India
- Goldman Sachs - Singapore
- Banpu Public Company Limited - Thailand
- Interocean Group of Companies - India
- Indian Energy Exchange, India
- Baramulti Group, Indonesia
- IEA Clean Coal Centre - UK
- PNOC Exploration Corporation - Philippines
- Sakthi Sugars Limited - India
- Thiess Contractors Indonesia
- Kepco SPC Power Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- India Bulls Power Limited - India
- VISA Power Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Vizag Seaport Private Limited - India
- Formosa Plastics Group - Taiwan
- Karaikal Port Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- Energy Link Ltd, New Zealand
- Commonwealth Bank - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Sindya Power Generating Company Private Ltd
- Alfred C Toepfer International GmbH - Germany
- Mintek Dendrill Indonesia
- San Jose City I Power Corp, Philippines
- SN Aboitiz Power Inc, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Karbindo Abesyapradhi - Indoneisa
- ASAPP Information Group - India
- SMG Consultants - Indonesia
- Madhucon Powers Ltd - India
- Savvy Resources Ltd - HongKong
- Meralco Power Generation, Philippines
- Barasentosa Lestari - Indonesia
- Georgia Ports Authority, United States
- Therma Luzon, Inc, Philippines
- Salva Resources Pvt Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Neyveli Lignite Corporation Ltd, - India
- Chettinad Cement Corporation Ltd - India
- New Zealand Coal & Carbon
- Jorong Barutama Greston.PT - Indonesia
- TeaM Sual Corporation - Philippines
- Iligan Light & Power Inc, Philippines
- Kideco Jaya Agung - Indonesia
- Bhoruka Overseas - Indonesia
- Orica Mining Services - Indonesia
- Ministry of Transport, Egypt
- Parry Sugars Refinery, India
- Maharashtra Electricity Regulatory Commission - India
- Medco Energi Mining Internasional
- Siam City Cement - Thailand
- Parliament of New Zealand
- Kapuas Tunggal Persada - Indonesia
- Videocon Industries ltd - India
- Chamber of Mines of South Africa
- Heidelberg Cement - Germany
- Kaltim Prima Coal - Indonesia
- Miang Besar Coal Terminal - Indonesia
- IHS Mccloskey Coal Group - USA
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Star Paper Mills Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Bulk Trading Sa - Switzerland
- Tamil Nadu electricity Board
- Ministry of Finance - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Bayan Resources Tbk. - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Riau Bara Harum - Indonesia
- Semirara Mining Corp, Philippines
- Kumho Petrochemical, South Korea
- Edison Trading Spa - Italy
- Sarangani Energy Corporation, Philippines
- Coastal Gujarat Power Limited - India
- Wood Mackenzie - Singapore
- Asmin Koalindo Tuhup - Indonesia
- McConnell Dowell - Australia
- Eastern Energy - Thailand
- Borneo Indobara - Indonesia
- Straits Asia Resources Limited - Singapore
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