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, 08 August 14
CAPESIZE RATES ARE REMAINING MORE OR LESS UNCHANGED AT BOTTOM LOW LEVELS - FEARNLEYS AS
Handy
An improving sentiment with stronger rates and fair demand for prompt tonnage in the Atlantic, both on the Continent and in the Med for the ...
Friday, 08 August 14
U.S PRODUCED 35.80 MMST OF COAL IN JULY; UP 7.89 MONTH OVER MONTH
COALspot.com – United States the world's second largest coal producer, produced approximately 19.50 million short tons (mmst) of coal in ...
Friday, 08 August 14
PORT OF NEWCASTLE SHIPPED 19.52% MORE COAL IN JULY FROM LAST MONTH
COALspot.com: The Port of Newcastle, Australia’s major trading ports and the world’s largest coal export port, has shipped 14,036,947 t ...
Thursday, 07 August 14
SHORT-TERM COAL OUTLOOK IMPROVES - SAM QUEST
With demand for and supply of coal to grow in the near future, prices are expected to rebound in the short term; the long-term prospects, however, ...
Thursday, 07 August 14
BULKING UP IN AFRICA: CHINA INFLATES SEABORNE MINERALS EXPORT TRADE - RICHARD SCOTT
Africa’s profile as an exporter of dry bulk commodities is rising. Responding to growing import demand from China, India and other buyers in ...
|
|
|
Showing 3556 to 3560 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Bhatia International Limited - India
- Bukit Makmur.PT - Indonesia
- Georgia Ports Authority, United States
- Coalindo Energy - Indonesia
- Commonwealth Bank - Australia
- Heidelberg Cement - Germany
- Chettinad Cement Corporation Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- GN Power Mariveles Coal Plant, Philippines
- Economic Council, Georgia
- Parliament of New Zealand
- Metalloyd Limited - United Kingdom
- Malabar Cements Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Ministry of Transport, Egypt
- PowerSource Philippines DevCo
- Renaissance Capital - South Africa
- Medco Energi Mining Internasional
- Dalmia Cement Bharat India
- Ministry of Mines - Canada
- Sarangani Energy Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Mintek Dendrill Indonesia
- Bharathi Cement Corporation - India
- Semirara Mining and Power Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- Karaikal Port Pvt Ltd - India
- Orica Australia Pty. Ltd.
- Timah Investasi Mineral - Indoneisa
- Binh Thuan Hamico - Vietnam
- Simpson Spence & Young - Indonesia
- Merrill Lynch Commodities Europe
- India Bulls Power Limited - India
- Leighton Contractors Pty Ltd - Australia
- Kohat Cement Company Ltd. - Pakistan
- Mercuria Energy - Indonesia
- Indika Energy - Indonesia
- Directorate Of Revenue Intelligence - India
- Meenaskhi Energy Private Limited - India
- GMR Energy Limited - India
- Neyveli Lignite Corporation Ltd, - India
- MS Steel International - UAE
- Vedanta Resources Plc - India
- New Zealand Coal & Carbon
- Latin American Coal - Colombia
- Goldman Sachs - Singapore
- PNOC Exploration Corporation - Philippines
- White Energy Company Limited
- Borneo Indobara - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Thai Mozambique Logistica
- Bulk Trading Sa - Switzerland
- Pipit Mutiara Jaya. PT, Indonesia
- Straits Asia Resources Limited - Singapore
- TeaM Sual Corporation - Philippines
- The State Trading Corporation of India Ltd
- McConnell Dowell - Australia
- San Jose City I Power Corp, Philippines
- Rashtriya Ispat Nigam Limited - India
- Eastern Coal Council - USA
- Bhushan Steel Limited - India
- Alfred C Toepfer International GmbH - Germany
- Electricity Generating Authority of Thailand
- Miang Besar Coal Terminal - Indonesia
- PTC India Limited - India
- SMC Global Power, Philippines
- Posco Energy - South Korea
- Indian Oil Corporation Limited
- European Bulk Services B.V. - Netherlands
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Trasteel International SA, Italy
- Minerals Council of Australia
- Sical Logistics Limited - India
- Sindya Power Generating Company Private Ltd
- Energy Link Ltd, New Zealand
- Asmin Koalindo Tuhup - Indonesia
- ICICI Bank Limited - India
- Makarim & Taira - Indonesia
- Bayan Resources Tbk. - Indonesia
- Grasim Industreis Ltd - India
- Aboitiz Power Corporation - Philippines
- Altura Mining Limited, Indonesia
- Star Paper Mills Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Singapore Mercantile Exchange
- Price Waterhouse Coopers - Russia
- Global Green Power PLC Corporation, Philippines
- Savvy Resources Ltd - HongKong
- Xindia Steels Limited - India
- The University of Queensland
- Antam Resourcindo - Indonesia
- Globalindo Alam Lestari - Indonesia
- Sakthi Sugars Limited - India
- GAC Shipping (India) Pvt Ltd
- Indo Tambangraya Megah - Indonesia
- Meralco Power Generation, Philippines
- Deloitte Consulting - India
- Australian Commodity Traders Exchange
- Coastal Gujarat Power Limited - India
- Central Electricity Authority - India
- Kumho Petrochemical, South Korea
- International Coal Ventures Pvt Ltd - India
- Marubeni Corporation - India
- Anglo American - United Kingdom
- Baramulti Group, Indonesia
- Intertek Mineral Services - Indonesia
- Kepco SPC Power Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Eastern Energy - Thailand
- Carbofer General Trading SA - India
- Independent Power Producers Association of India
- Siam City Cement - Thailand
- OPG Power Generation Pvt Ltd - India
- Petron Corporation, Philippines
- Essar Steel Hazira Ltd - India
- Thiess Contractors Indonesia
- CNBM International Corporation - China
- Mjunction Services Limited - India
- Larsen & Toubro Limited - India
- Cigading International Bulk Terminal - Indonesia
- Port Waratah Coal Services - Australia
- Vizag Seaport Private Limited - India
- Chamber of Mines of South Africa
- Karbindo Abesyapradhi - Indoneisa
- Bahari Cakrawala Sebuku - Indonesia
- Aditya Birla Group - India
- SMG Consultants - Indonesia
- Tata Chemicals Ltd - India
- Maheswari Brothers Coal Limited - India
- Bhoruka Overseas - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Ind-Barath Power Infra Limited - India
- Pendopo Energi Batubara - Indonesia
- Salva Resources Pvt Ltd - India
- Parry Sugars Refinery, India
- Ceylon Electricity Board - Sri Lanka
- Kapuas Tunggal Persada - Indonesia
- Indogreen Group - Indonesia
- Semirara Mining Corp, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Agrawal Coal Company - India
- Energy Development Corp, Philippines
- Ambuja Cements Ltd - India
- Sree Jayajothi Cements Limited - India
- Rio Tinto Coal - Australia
- Formosa Plastics Group - Taiwan
- Uttam Galva Steels Limited - India
- Barasentosa Lestari - Indonesia
- Planning Commission, India
- Petrochimia International Co. Ltd.- Taiwan
- IHS Mccloskey Coal Group - USA
- Indonesian Coal Mining Association
- Banpu Public Company Limited - Thailand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bangladesh Power Developement Board
- SN Aboitiz Power Inc, Philippines
- Cement Manufacturers Association - India
- Toyota Tsusho Corporation, Japan
- Kartika Selabumi Mining - Indonesia
- Madhucon Powers Ltd - India
- Kaltim Prima Coal - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Holcim Trading Pte Ltd - Singapore
- Sojitz Corporation - Japan
- Orica Mining Services - Indonesia
- Riau Bara Harum - Indonesia
- Interocean Group of Companies - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Australian Coal Association
- GVK Power & Infra Limited - India
- Ministry of Finance - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Gujarat Electricity Regulatory Commission - India
- PetroVietnam Power Coal Import and Supply Company
- Jindal Steel & Power Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- London Commodity Brokers - England
- The Treasury - Australian Government
- Tamil Nadu electricity Board
- Jaiprakash Power Ventures ltd
- Therma Luzon, Inc, Philippines
- VISA Power Limited - India
- Bukit Baiduri Energy - Indonesia
- Central Java Power - Indonesia
- Wood Mackenzie - Singapore
- Gujarat Sidhee Cement - India
- Manunggal Multi Energi - Indonesia
- Kideco Jaya Agung - Indonesia
- Mercator Lines Limited - India
- Kobexindo Tractors - Indoneisa
- Indian Energy Exchange, India
- CIMB Investment Bank - Malaysia
- IEA Clean Coal Centre - UK
- Videocon Industries ltd - India
- Edison Trading Spa - Italy
- Global Coal Blending Company Limited - Australia
- Power Finance Corporation Ltd., India
- Siam City Cement PLC, Thailand
- Oldendorff Carriers - Singapore
- South Luzon Thermal Energy Corporation
- Vijayanagar Sugar Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Africa Commodities Group - South Africa
- Attock Cement Pakistan Limited
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Standard Chartered Bank - UAE
- Samtan Co., Ltd - South Korea
- Global Business Power Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- TNB Fuel Sdn Bhd - Malaysia
- ASAPP Information Group - India
- Electricity Authority, New Zealand
- LBH Netherlands Bv - Netherlands
- Wilmar Investment Holdings
- Lanco Infratech Ltd - India
- Coal and Oil Company - UAE
- Romanian Commodities Exchange
|
| |
| |
|
