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 $152 million selling shares in an August IPO.
Source: Bloomberg ( By Jesse Riseborough and Yoga Rusmana )
If you believe an article violates your rights or the rights of others, please contact us.
|
|
Tuesday, 24 February 15
IHS ENERGY COAL CONFERENCE OF THE AMERICAS
Attend the IHS Energy Coal Conference of the Americas 17-19 March in Cartagena, Colombia and learn about timely concerns in today's coal indust ...
Monday, 23 February 15
Q2' CFR SOUTH CHINA COAL SWAP FOR Q2 ROSE 3.39% M-O-M
COALspot.com: API 8 CFR South China Coal swap for Q2’ 2015 delivery rose US$ 1.90 (+3.39%) per MT month over month and declined US$ 0.08 ...
Monday, 23 February 15
Q2' API 5 FOB NEWCASTLE COAL SWAP CLOSED $1 HIGHER THAN Q3
COALspot.com: API 5 FOB Newcastle Coal swap for Q2’ 2015 delivery rose US$ 3.12 per MT (+6.44%) month over month and fall US$ 0.43 (-0.83%) w ...
Sunday, 22 February 15
THE BALTIC DRY INDEX LOST ALMOST 3.2% OR 17 POINTS WEEK ON WEEK
COALspot.com: The Baltic Dry Index, one of the economic indicators that monitors the health of the world's economy by tracking the price of shi ...
Friday, 20 February 15
GOVT SET TO INCREASE COAL OUTPUT TARGET THIS YEAR - JAKARTA POST
The Energy and Mineral Resources Ministry is planning to increase its coal output target this year as the government seeks to offset the ongoing de ...
|
|
|
Showing 3181 to 3185 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Sarangani Energy Corporation, Philippines
- Sical Logistics Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Kobexindo Tractors - Indoneisa
- Eastern Energy - Thailand
- Bhoruka Overseas - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Economic Council, Georgia
- VISA Power Limited - India
- Price Waterhouse Coopers - Russia
- Directorate Of Revenue Intelligence - India
- Orica Mining Services - Indonesia
- Minerals Council of Australia
- Directorate General of MIneral and Coal - Indonesia
- Thai Mozambique Logistica
- GVK Power & Infra Limited - India
- Siam City Cement PLC, Thailand
- Bayan Resources Tbk. - Indonesia
- Commonwealth Bank - Australia
- Heidelberg Cement - Germany
- Borneo Indobara - Indonesia
- OPG Power Generation Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Savvy Resources Ltd - HongKong
- Bhushan Steel Limited - India
- Alfred C Toepfer International GmbH - Germany
- Indogreen Group - Indonesia
- Videocon Industries ltd - India
- Essar Steel Hazira Ltd - India
- India Bulls Power Limited - India
- Toyota Tsusho Corporation, Japan
- Electricity Authority, New Zealand
- Carbofer General Trading SA - India
- Mintek Dendrill Indonesia
- McConnell Dowell - Australia
- Binh Thuan Hamico - Vietnam
- Kaltim Prima Coal - Indonesia
- SN Aboitiz Power Inc, Philippines
- Meralco Power Generation, Philippines
- Energy Link Ltd, New Zealand
- Star Paper Mills Limited - India
- Timah Investasi Mineral - Indoneisa
- Salva Resources Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- Power Finance Corporation Ltd., India
- Riau Bara Harum - Indonesia
- IEA Clean Coal Centre - UK
- Sinarmas Energy and Mining - Indonesia
- Banpu Public Company Limited - Thailand
- Mercator Lines Limited - India
- Parliament of New Zealand
- Ind-Barath Power Infra Limited - India
- Central Java Power - Indonesia
- Renaissance Capital - South Africa
- Aditya Birla Group - India
- Indika Energy - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Merrill Lynch Commodities Europe
- Coalindo Energy - Indonesia
- Australian Commodity Traders Exchange
- Australian Coal Association
- Xindia Steels Limited - India
- Mjunction Services Limited - India
- Trasteel International SA, Italy
- Tamil Nadu electricity Board
- San Jose City I Power Corp, Philippines
- Posco Energy - South Korea
- Planning Commission, India
- Rashtriya Ispat Nigam Limited - India
- Miang Besar Coal Terminal - Indonesia
- Kideco Jaya Agung - Indonesia
- Kartika Selabumi Mining - Indonesia
- Standard Chartered Bank - UAE
- Rio Tinto Coal - Australia
- Global Coal Blending Company Limited - Australia
- Edison Trading Spa - Italy
- Simpson Spence & Young - Indonesia
- Bhatia International Limited - India
- Central Electricity Authority - India
- Global Green Power PLC Corporation, Philippines
- Antam Resourcindo - Indonesia
- IHS Mccloskey Coal Group - USA
- MS Steel International - UAE
- Marubeni Corporation - India
- Indo Tambangraya Megah - Indonesia
- Medco Energi Mining Internasional
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Wilmar Investment Holdings
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Independent Power Producers Association of India
- Tata Chemicals Ltd - India
- Chettinad Cement Corporation Ltd - India
- Malabar Cements Ltd - India
- Wood Mackenzie - Singapore
- Kapuas Tunggal Persada - Indonesia
- Maheswari Brothers Coal Limited - India
- Bangladesh Power Developement Board
- Chamber of Mines of South Africa
- Coal and Oil Company - UAE
- Lanco Infratech Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- CIMB Investment Bank - Malaysia
- GMR Energy Limited - India
- Africa Commodities Group - South Africa
- Pipit Mutiara Jaya. PT, Indonesia
- Sojitz Corporation - Japan
- Semirara Mining Corp, Philippines
- Aboitiz Power Corporation - Philippines
- Madhucon Powers Ltd - India
- PTC India Limited - India
- Attock Cement Pakistan Limited
- PowerSource Philippines DevCo
- TeaM Sual Corporation - Philippines
- Indian Energy Exchange, India
- Iligan Light & Power Inc, Philippines
- Orica Australia Pty. Ltd.
- Karbindo Abesyapradhi - Indoneisa
- Manunggal Multi Energi - Indonesia
- Metalloyd Limited - United Kingdom
- Bharathi Cement Corporation - India
- AsiaOL BioFuels Corp., Philippines
- Dalmia Cement Bharat India
- Kumho Petrochemical, South Korea
- Krishnapatnam Port Company Ltd. - India
- Global Business Power Corporation, Philippines
- Port Waratah Coal Services - Australia
- Eastern Coal Council - USA
- Ministry of Finance - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Leighton Contractors Pty Ltd - Australia
- Ministry of Mines - Canada
- Jaiprakash Power Ventures ltd
- Samtan Co., Ltd - South Korea
- ICICI Bank Limited - India
- Larsen & Toubro Limited - India
- Agrawal Coal Company - India
- PNOC Exploration Corporation - Philippines
- Sakthi Sugars Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Goldman Sachs - Singapore
- Billiton Holdings Pty Ltd - Australia
- Maharashtra Electricity Regulatory Commission - India
- Vijayanagar Sugar Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- Oldendorff Carriers - Singapore
- ASAPP Information Group - India
- Ambuja Cements Ltd - India
- SMC Global Power, Philippines
- Ministry of Transport, Egypt
- LBH Netherlands Bv - Netherlands
- SMG Consultants - Indonesia
- Anglo American - United Kingdom
- Therma Luzon, Inc, Philippines
- Altura Mining Limited, Indonesia
- Georgia Ports Authority, United States
- Uttam Galva Steels Limited - India
- Jindal Steel & Power Ltd - India
- Petron Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- Semirara Mining and Power Corporation, Philippines
- Indonesian Coal Mining Association
- Asmin Koalindo Tuhup - Indonesia
- Barasentosa Lestari - Indonesia
- Indian Oil Corporation Limited
- European Bulk Services B.V. - Netherlands
- White Energy Company Limited
- Bank of Tokyo Mitsubishi UFJ Ltd
- Parry Sugars Refinery, India
- Cigading International Bulk Terminal - Indonesia
- Makarim & Taira - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Kepco SPC Power Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- Formosa Plastics Group - Taiwan
- Karaikal Port Pvt Ltd - India
- Electricity Generating Authority of Thailand
- The University of Queensland
- Bahari Cakrawala Sebuku - Indonesia
- Coastal Gujarat Power Limited - India
- Romanian Commodities Exchange
- Gujarat Electricity Regulatory Commission - India
- Baramulti Group, Indonesia
- Intertek Mineral Services - Indonesia
- Vedanta Resources Plc - India
- Vizag Seaport Private Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Gujarat Sidhee Cement - India
- Cement Manufacturers Association - India
- Singapore Mercantile Exchange
- GN Power Mariveles Coal Plant, Philippines
- Bulk Trading Sa - Switzerland
- Siam City Cement - Thailand
- Latin American Coal - Colombia
- The State Trading Corporation of India Ltd
- London Commodity Brokers - England
- Sindya Power Generating Company Private Ltd
- Petrochimia International Co. Ltd.- Taiwan
- CNBM International Corporation - China
- GAC Shipping (India) Pvt Ltd
- Energy Development Corp, Philippines
- New Zealand Coal & Carbon
- Straits Asia Resources Limited - Singapore
- Bukit Makmur.PT - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- The Treasury - Australian Government
- Grasim Industreis Ltd - India
- Thiess Contractors Indonesia
- International Coal Ventures Pvt Ltd - India
- Deloitte Consulting - India
- Bukit Asam (Persero) Tbk - Indonesia
- Mercuria Energy - Indonesia
- South Luzon Thermal Energy Corporation
- Interocean Group of Companies - India
|
| |
| |
|
