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.
|
|
Friday, 12 December 14
U.S WEEKLY COAL PRODUCTION UP 3.4% W/E DECEMBER 6
COALspot.com – United States the world's one of the largest coal producers, produced approximately 19.6 million short tons (mmst) of coal ...
Wednesday, 10 December 14
SHIPPING MARKET INSIGHT - GEORGE ILIOPOULOS, INTERMODAL
COALspot.com: As 2014 is coming to an end, we look back to what has happened during the year and notice that SnP activity has been particularly sof ...
Wednesday, 10 December 14
WORLD HARD COAL MARKET 2014: PRODUCTION AND TRADE STAGNATING, IMPORTS TO GERMANY AND EUROPE ON THE DECLINE
Press Release: German Coal Importers Association (VDKi) criticizes regulations ordering reduction of CO2 emissions from coal-fired power plants as ...
Tuesday, 09 December 14
PRESSURE ON CHINA COAL MINERS TO CONTINUE DESPITE GOVERNMENT SUPPORT - FITCH
COALspot.com: Fitch Ratings says that Chinese coal mining companies will continue to be pressured by low prices, which will persist despite recent ...
Tuesday, 09 December 14
Q4' 2015, FOB INDONESIA COAL SWAP CLOSED AT $ 49.02 W/E 5 DEC
COALspot.com: Indonesian coal swaps for delivery Q1' 2015 lost month on month, week over week and day on day.
The Q1 swap has lost US$ 0.2 ...
|
|
|
Showing 3316 to 3320 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Bank of Tokyo Mitsubishi UFJ Ltd
- Tamil Nadu electricity Board
- Madhucon Powers Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Mercuria Energy - Indonesia
- Anglo American - United Kingdom
- Dalmia Cement Bharat India
- Indogreen Group - Indonesia
- Price Waterhouse Coopers - Russia
- Central Java Power - Indonesia
- VISA Power Limited - India
- Baramulti Group, Indonesia
- Formosa Plastics Group - Taiwan
- Vijayanagar Sugar Pvt Ltd - India
- Star Paper Mills Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Bangladesh Power Developement Board
- Electricity Authority, New Zealand
- Kideco Jaya Agung - Indonesia
- Aboitiz Power Corporation - Philippines
- Eastern Energy - Thailand
- Trasteel International SA, Italy
- Kobexindo Tractors - Indoneisa
- International Coal Ventures Pvt Ltd - India
- GMR Energy Limited - India
- Commonwealth Bank - Australia
- Antam Resourcindo - Indonesia
- Gujarat Sidhee Cement - India
- Vedanta Resources Plc - India
- Manunggal Multi Energi - Indonesia
- Ministry of Finance - Indonesia
- Agrawal Coal Company - India
- Bhoruka Overseas - Indonesia
- Planning Commission, India
- Borneo Indobara - Indonesia
- Bukit Makmur.PT - Indonesia
- Larsen & Toubro Limited - India
- Altura Mining Limited, Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Heidelberg Cement - Germany
- IHS Mccloskey Coal Group - USA
- Port Waratah Coal Services - Australia
- Cement Manufacturers Association - India
- ICICI Bank Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Australian Coal Association
- Carbofer General Trading SA - India
- AsiaOL BioFuels Corp., Philippines
- ASAPP Information Group - India
- Jindal Steel & Power Ltd - India
- Indika Energy - Indonesia
- The State Trading Corporation of India Ltd
- Ceylon Electricity Board - Sri Lanka
- Thiess Contractors Indonesia
- Oldendorff Carriers - Singapore
- Bayan Resources Tbk. - Indonesia
- Ind-Barath Power Infra Limited - India
- European Bulk Services B.V. - Netherlands
- Samtan Co., Ltd - South Korea
- Petrochimia International Co. Ltd.- Taiwan
- Aditya Birla Group - India
- SN Aboitiz Power Inc, Philippines
- Coastal Gujarat Power Limited - India
- Eastern Coal Council - USA
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Cigading International Bulk Terminal - Indonesia
- Videocon Industries ltd - India
- Riau Bara Harum - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Tata Chemicals Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- CNBM International Corporation - China
- Merrill Lynch Commodities Europe
- Coalindo Energy - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Rashtriya Ispat Nigam Limited - India
- Chettinad Cement Corporation Ltd - India
- Orica Australia Pty. Ltd.
- Kaltim Prima Coal - Indonesia
- Straits Asia Resources Limited - Singapore
- Bharathi Cement Corporation - India
- Standard Chartered Bank - UAE
- Siam City Cement PLC, Thailand
- Medco Energi Mining Internasional
- Deloitte Consulting - India
- Vizag Seaport Private Limited - India
- Economic Council, Georgia
- Interocean Group of Companies - India
- Miang Besar Coal Terminal - Indonesia
- Africa Commodities Group - South Africa
- Kepco SPC Power Corporation, Philippines
- New Zealand Coal & Carbon
- Karbindo Abesyapradhi - Indoneisa
- Gujarat Mineral Development Corp Ltd - India
- Rio Tinto Coal - Australia
- SMC Global Power, Philippines
- Bhushan Steel Limited - India
- Bhatia International Limited - India
- IEA Clean Coal Centre - UK
- Power Finance Corporation Ltd., India
- Asmin Koalindo Tuhup - Indonesia
- Metalloyd Limited - United Kingdom
- Georgia Ports Authority, United States
- Simpson Spence & Young - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Global Business Power Corporation, Philippines
- Savvy Resources Ltd - HongKong
- LBH Netherlands Bv - Netherlands
- Indian Energy Exchange, India
- Karaikal Port Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- Holcim Trading Pte Ltd - Singapore
- Iligan Light & Power Inc, Philippines
- Indian Oil Corporation Limited
- Sical Logistics Limited - India
- San Jose City I Power Corp, Philippines
- Toyota Tsusho Corporation, Japan
- CIMB Investment Bank - Malaysia
- Makarim & Taira - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Salva Resources Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- Semirara Mining Corp, Philippines
- Meenaskhi Energy Private Limited - India
- MS Steel International - UAE
- Kumho Petrochemical, South Korea
- Australian Commodity Traders Exchange
- Malabar Cements Ltd - India
- Marubeni Corporation - India
- GVK Power & Infra Limited - India
- Sojitz Corporation - Japan
- Kohat Cement Company Ltd. - Pakistan
- Latin American Coal - Colombia
- Meralco Power Generation, Philippines
- Petron Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Ambuja Cements Ltd - India
- Binh Thuan Hamico - Vietnam
- Xindia Steels Limited - India
- White Energy Company Limited
- Minerals Council of Australia
- Barasentosa Lestari - Indonesia
- TeaM Sual Corporation - Philippines
- Globalindo Alam Lestari - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Goldman Sachs - Singapore
- Mercator Lines Limited - India
- London Commodity Brokers - England
- Energy Link Ltd, New Zealand
- Billiton Holdings Pty Ltd - Australia
- Grasim Industreis Ltd - India
- India Bulls Power Limited - India
- Energy Development Corp, Philippines
- Independent Power Producers Association of India
- Pendopo Energi Batubara - Indonesia
- Kartika Selabumi Mining - Indonesia
- Sree Jayajothi Cements Limited - India
- Posco Energy - South Korea
- Renaissance Capital - South Africa
- TNB Fuel Sdn Bhd - Malaysia
- Essar Steel Hazira Ltd - India
- PTC India Limited - India
- Sarangani Energy Corporation, Philippines
- Ministry of Mines - Canada
- Mjunction Services Limited - India
- Wood Mackenzie - Singapore
- Bulk Trading Sa - Switzerland
- Pipit Mutiara Jaya. PT, Indonesia
- Edison Trading Spa - Italy
- Parry Sugars Refinery, India
- Sindya Power Generating Company Private Ltd
- Wilmar Investment Holdings
- Chamber of Mines of South Africa
- Lanco Infratech Ltd - India
- Attock Cement Pakistan Limited
- The Treasury - Australian Government
- SMG Consultants - Indonesia
- Indonesian Coal Mining Association
- Kalimantan Lumbung Energi - Indonesia
- Uttam Galva Steels Limited - India
- Sakthi Sugars Limited - India
- GAC Shipping (India) Pvt Ltd
- Mintek Dendrill Indonesia
- Orica Mining Services - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Coal and Oil Company - UAE
- PowerSource Philippines DevCo
- McConnell Dowell - Australia
- Directorate Of Revenue Intelligence - India
- Ministry of Transport, Egypt
- Therma Luzon, Inc, Philippines
- Global Coal Blending Company Limited - Australia
- GN Power Mariveles Coal Plant, Philippines
- Indo Tambangraya Megah - Indonesia
- Electricity Generating Authority of Thailand
- Banpu Public Company Limited - Thailand
- Bukit Asam (Persero) Tbk - Indonesia
- Parliament of New Zealand
- Thai Mozambique Logistica
- Jaiprakash Power Ventures ltd
- Singapore Mercantile Exchange
- Central Electricity Authority - India
- PNOC Exploration Corporation - Philippines
- South Luzon Thermal Energy Corporation
- Neyveli Lignite Corporation Ltd, - India
- Maheswari Brothers Coal Limited - India
- Intertek Mineral Services - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Siam City Cement - Thailand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Romanian Commodities Exchange
- Global Green Power PLC Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- OPG Power Generation Pvt Ltd - India
- The University of Queensland
- Jorong Barutama Greston.PT - Indonesia
|
| |
| |
|
