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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 $152 million selling shares in an August IPO.
Source: Bloomberg ( By Jesse Riseborough and Yoga Rusmana )
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Tuesday, 17 February 15
FOB SUB-BIT INDONESIA COAL SWAP UP 8% MONTH OVER MONTH
COALspot.com: Indonesian coal swaps for delivery Q2' 2015 rose week over week and month on month.
The Q2 swap up US$ 3.58 (+8.00%) month o ...
Tuesday, 17 February 15
Q2' FOB RICHARDS BAY COAL SWAP CLOSED AT $63.45; $ 1.85 HIGHER COMPARED TO Q4 CLOSING
COALspot.com: API 4 FOB Richards Bay Coal swap for delivery Q2' 2015 surge month over month, week on week and day on day.
The Q2 swap has ...
Monday, 16 February 15
COAL MINING SLUMP A BLESSING IN DISGUISE - THE JAKARTA POST
The growth of the coal-mining industry, which has diminished in the last two years, is expected to slump even further this year following weakening ...
Monday, 16 February 15
FOB NEWCASTLE COAL SWAPS SURGE WEEK ON WEEK
COALspot.com: API 5 FOB Newcastle Coal swap for Q2’ 2015 delivery rose US$ 1.31 per MT (+2.59%) week over week and US$ 4.35 (+9.13%) month on ...
Monday, 16 February 15
Q2' 15 - CFR SOUTH CHINA COAL SWAP ROSE 5.22% M-O-M
COALspot.com: API 8 CFR South China Coal swap for Q2’ 2015 delivery rose US$ 2.88 (+5.22%) per MT month over month and US$ 1.08 (+1.90% ...
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- Barasentosa Lestari - Indonesia
- SMG Consultants - Indonesia
- Timah Investasi Mineral - Indoneisa
- Africa Commodities Group - South Africa
- Georgia Ports Authority, United States
- India Bulls Power Limited - India
- Larsen & Toubro Limited - India
- Dalmia Cement Bharat India
- Metalloyd Limited - United Kingdom
- Bhatia International Limited - India
- Medco Energi Mining Internasional
- Global Green Power PLC Corporation, Philippines
- GMR Energy Limited - India
- Riau Bara Harum - Indonesia
- Ministry of Finance - Indonesia
- Electricity Generating Authority of Thailand
- Ministry of Transport, Egypt
- Chamber of Mines of South Africa
- Maheswari Brothers Coal Limited - India
- Coalindo Energy - Indonesia
- Mintek Dendrill Indonesia
- Central Electricity Authority - India
- Kepco SPC Power Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Meenaskhi Energy Private Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Straits Asia Resources Limited - Singapore
- Grasim Industreis Ltd - India
- Energy Development Corp, Philippines
- Malabar Cements Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Australian Coal Association
- Goldman Sachs - Singapore
- Indian Energy Exchange, India
- Coal and Oil Company - UAE
- SMC Global Power, Philippines
- Videocon Industries ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Rashtriya Ispat Nigam Limited - India
- Petron Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- South Luzon Thermal Energy Corporation
- Electricity Authority, New Zealand
- Directorate Of Revenue Intelligence - India
- Merrill Lynch Commodities Europe
- Central Java Power - Indonesia
- Mercator Lines Limited - India
- Eastern Energy - Thailand
- PowerSource Philippines DevCo
- AsiaOL BioFuels Corp., Philippines
- Star Paper Mills Limited - India
- Sojitz Corporation - Japan
- LBH Netherlands Bv - Netherlands
- Gujarat Mineral Development Corp Ltd - India
- Sakthi Sugars Limited - India
- Holcim Trading Pte Ltd - Singapore
- Latin American Coal - Colombia
- Cigading International Bulk Terminal - Indonesia
- IEA Clean Coal Centre - UK
- Formosa Plastics Group - Taiwan
- Price Waterhouse Coopers - Russia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indo Tambangraya Megah - Indonesia
- Kobexindo Tractors - Indoneisa
- Bhushan Steel Limited - India
- Indian Oil Corporation Limited
- London Commodity Brokers - England
- Directorate General of MIneral and Coal - Indonesia
- Makarim & Taira - Indonesia
- Therma Luzon, Inc, Philippines
- Siam City Cement PLC, Thailand
- Parry Sugars Refinery, India
- Wilmar Investment Holdings
- Bhoruka Overseas - Indonesia
- Meralco Power Generation, Philippines
- ICICI Bank Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Bukit Asam (Persero) Tbk - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Iligan Light & Power Inc, Philippines
- Sree Jayajothi Cements Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Indonesian Coal Mining Association
- Binh Thuan Hamico - Vietnam
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kideco Jaya Agung - Indonesia
- Orica Mining Services - Indonesia
- Jindal Steel & Power Ltd - India
- Thiess Contractors Indonesia
- Kartika Selabumi Mining - Indonesia
- Eastern Coal Council - USA
- Anglo American - United Kingdom
- Toyota Tsusho Corporation, Japan
- Sarangani Energy Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ambuja Cements Ltd - India
- Ind-Barath Power Infra Limited - India
- Bayan Resources Tbk. - Indonesia
- OPG Power Generation Pvt Ltd - India
- Kumho Petrochemical, South Korea
- GVK Power & Infra Limited - India
- Global Business Power Corporation, Philippines
- Tata Chemicals Ltd - India
- Coastal Gujarat Power Limited - India
- Xindia Steels Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Jaiprakash Power Ventures ltd
- White Energy Company Limited
- PTC India Limited - India
- Ministry of Mines - Canada
- Alfred C Toepfer International GmbH - Germany
- VISA Power Limited - India
- Indogreen Group - Indonesia
- Borneo Indobara - Indonesia
- TeaM Sual Corporation - Philippines
- Heidelberg Cement - Germany
- Semirara Mining and Power Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Semirara Mining Corp, Philippines
- Global Coal Blending Company Limited - Australia
- Globalindo Alam Lestari - Indonesia
- PNOC Exploration Corporation - Philippines
- Salva Resources Pvt Ltd - India
- Baramulti Group, Indonesia
- Samtan Co., Ltd - South Korea
- Wood Mackenzie - Singapore
- Bulk Trading Sa - Switzerland
- Essar Steel Hazira Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Economic Council, Georgia
- Carbofer General Trading SA - India
- The State Trading Corporation of India Ltd
- Altura Mining Limited, Indonesia
- GN Power Mariveles Coal Plant, Philippines
- ASAPP Information Group - India
- Tamil Nadu electricity Board
- Uttam Galva Steels Limited - India
- Parliament of New Zealand
- Siam City Cement - Thailand
- The Treasury - Australian Government
- Banpu Public Company Limited - Thailand
- International Coal Ventures Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Interocean Group of Companies - India
- Singapore Mercantile Exchange
- Sindya Power Generating Company Private Ltd
- San Jose City I Power Corp, Philippines
- Bukit Makmur.PT - Indonesia
- Lanco Infratech Ltd - India
- Bharathi Cement Corporation - India
- Orica Australia Pty. Ltd.
- Karaikal Port Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Planning Commission, India
- Bukit Baiduri Energy - Indonesia
- CNBM International Corporation - China
- CIMB Investment Bank - Malaysia
- Rio Tinto Coal - Australia
- Kaltim Prima Coal - Indonesia
- Gujarat Sidhee Cement - India
- The University of Queensland
- Minerals Council of Australia
- GAC Shipping (India) Pvt Ltd
- Oldendorff Carriers - Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Aditya Birla Group - India
- Mercuria Energy - Indonesia
- Antam Resourcindo - Indonesia
- Cement Manufacturers Association - India
- Marubeni Corporation - India
- Commonwealth Bank - Australia
- Power Finance Corporation Ltd., India
- Vedanta Resources Plc - India
- PetroVietnam Power Coal Import and Supply Company
- Indika Energy - Indonesia
- Mjunction Services Limited - India
- Savvy Resources Ltd - HongKong
- European Bulk Services B.V. - Netherlands
- Madhucon Powers Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Vizag Seaport Private Limited - India
- Energy Link Ltd, New Zealand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Intertek Mineral Services - Indonesia
- McConnell Dowell - Australia
- Romanian Commodities Exchange
- Maharashtra Electricity Regulatory Commission - India
- Jorong Barutama Greston.PT - Indonesia
- Attock Cement Pakistan Limited
- SN Aboitiz Power Inc, Philippines
- MS Steel International - UAE
- Thai Mozambique Logistica
- Renaissance Capital - South Africa
- Billiton Holdings Pty Ltd - Australia
- Agrawal Coal Company - India
- Krishnapatnam Port Company Ltd. - India
- Trasteel International SA, Italy
- Posco Energy - South Korea
- Independent Power Producers Association of India
- IHS Mccloskey Coal Group - USA
- Bangladesh Power Developement Board
- Deloitte Consulting - India
- Pendopo Energi Batubara - Indonesia
- Sical Logistics Limited - India
- Port Waratah Coal Services - Australia
- Aboitiz Power Corporation - Philippines
- New Zealand Coal & Carbon
- Manunggal Multi Energi - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Standard Chartered Bank - UAE
- Australian Commodity Traders Exchange
- Simpson Spence & Young - Indonesia
- Edison Trading Spa - Italy
- Leighton Contractors Pty Ltd - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sinarmas Energy and Mining - Indonesia
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