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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, 22 July 14
INDONESIA'S MINERAL EXPORT BAN: CHINA UNDER PRESSURE? - CLARKSONS
In January 2014, Indonesia introduced new regulations on exports of unprocessed minerals. Exports of some minerals have been heavily taxed, whilst ...
Tuesday, 22 July 14
ASIAN SUB-BITUMINOUS COAL USERS' GROUP CONFERENCE
Press Release: Registration Open for Fourth Annual Asian Sub-Bituminous Coal Users’ Group Conference
Register today for this year&r ...
Monday, 21 July 14
25% OF INDIA'S POWER PLANTS WERE HAVING SUPER CRITICAL COAL STOCK - COAL AND POWER MINISTER
25% of India’s power plants were having super critical coal stock; power utilities have also been advised to enhance the import of coal - Coa ...
Monday, 21 July 14
INDONESIA'S STATE CONTROLLED COAL MINER BUKIT ASAM ENJOYED HIGHER SELLING PRICE DURING THIS STORMY MARKET
COALspot.com: PT Bukit Asam, the Indonesian government controlled coal miner announced today that, the company has produced 7.70 million tons of co ...
Monday, 21 July 14
CFR SOUTH CHINA COAL Q3 DELIVERY SWAPS LOST 16% SINCE JANUARY 17, 2014
COALspot.com: Coal price falling is continues as the impact oversupply and lower demand. Market is not showing any positive trend in near future.
...
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- Billiton Holdings Pty Ltd - Australia
- Grasim Industreis Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
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- Oldendorff Carriers - Singapore
- Heidelberg Cement - Germany
- Siam City Cement - Thailand
- Bank of Tokyo Mitsubishi UFJ Ltd
- International Coal Ventures Pvt Ltd - India
- Antam Resourcindo - Indonesia
- Indo Tambangraya Megah - Indonesia
- Meenaskhi Energy Private Limited - India
- Kaltim Prima Coal - Indonesia
- Therma Luzon, Inc, Philippines
- Indian Oil Corporation Limited
- Indogreen Group - Indonesia
- Africa Commodities Group - South Africa
- Riau Bara Harum - Indonesia
- Savvy Resources Ltd - HongKong
- Energy Development Corp, Philippines
- South Luzon Thermal Energy Corporation
- SN Aboitiz Power Inc, Philippines
- Parry Sugars Refinery, India
- Electricity Authority, New Zealand
- Uttam Galva Steels Limited - India
- Bulk Trading Sa - Switzerland
- Semirara Mining and Power Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Chettinad Cement Corporation Ltd - India
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- Independent Power Producers Association of India
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- Anglo American - United Kingdom
- Australian Coal Association
- TNB Fuel Sdn Bhd - Malaysia
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- Parliament of New Zealand
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- Kideco Jaya Agung - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- London Commodity Brokers - England
- Bukit Baiduri Energy - Indonesia
- Chamber of Mines of South Africa
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- Tata Chemicals Ltd - India
- Bayan Resources Tbk. - Indonesia
- Singapore Mercantile Exchange
- Ministry of Transport, Egypt
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- Meralco Power Generation, Philippines
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- Australian Commodity Traders Exchange
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- Krishnapatnam Port Company Ltd. - India
- Mercator Lines Limited - India
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- Mintek Dendrill Indonesia
- AsiaOL BioFuels Corp., Philippines
- Planning Commission, India
- New Zealand Coal & Carbon
- Miang Besar Coal Terminal - Indonesia
- Gujarat Mineral Development Corp Ltd - India
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- San Jose City I Power Corp, Philippines
- India Bulls Power Limited - India
- Eastern Coal Council - USA
- Indika Energy - Indonesia
- Bhatia International Limited - India
- Directorate Of Revenue Intelligence - India
- Renaissance Capital - South Africa
- Commonwealth Bank - Australia
- Price Waterhouse Coopers - Russia
- Sical Logistics Limited - India
- Kartika Selabumi Mining - Indonesia
- Aditya Birla Group - India
- Malabar Cements Ltd - India
- Latin American Coal - Colombia
- Tamil Nadu electricity Board
- Bukit Makmur.PT - Indonesia
- Vizag Seaport Private Limited - India
- Holcim Trading Pte Ltd - Singapore
- IHS Mccloskey Coal Group - USA
- Ministry of Mines - Canada
- Economic Council, Georgia
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- Globalindo Alam Lestari - Indonesia
- Georgia Ports Authority, United States
- CIMB Investment Bank - Malaysia
- Petron Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Wood Mackenzie - Singapore
- Lanco Infratech Ltd - India
- Thai Mozambique Logistica
- Videocon Industries ltd - India
- Global Business Power Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- Bahari Cakrawala Sebuku - Indonesia
- Barasentosa Lestari - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- CNBM International Corporation - China
- Larsen & Toubro Limited - India
- Sindya Power Generating Company Private Ltd
- The University of Queensland
- McConnell Dowell - Australia
- Metalloyd Limited - United Kingdom
- Vedanta Resources Plc - India
- Star Paper Mills Limited - India
- Kepco SPC Power Corporation, Philippines
- Attock Cement Pakistan Limited
- Manunggal Multi Energi - Indonesia
- MS Steel International - UAE
- TeaM Sual Corporation - Philippines
- Bhoruka Overseas - Indonesia
- Edison Trading Spa - Italy
- Pendopo Energi Batubara - Indonesia
- GAC Shipping (India) Pvt Ltd
- Indonesian Coal Mining Association
- Minerals Council of Australia
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- Kapuas Tunggal Persada - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Borneo Indobara - Indonesia
- Gujarat Sidhee Cement - India
- Aboitiz Power Corporation - Philippines
- Kumho Petrochemical, South Korea
- GVK Power & Infra Limited - India
- PTC India Limited - India
- Global Green Power PLC Corporation, Philippines
- Orica Australia Pty. Ltd.
- Intertek Mineral Services - Indonesia
- European Bulk Services B.V. - Netherlands
- Ceylon Electricity Board - Sri Lanka
- Baramulti Group, Indonesia
- Coal and Oil Company - UAE
- Energy Link Ltd, New Zealand
- Siam City Cement PLC, Thailand
- IEA Clean Coal Centre - UK
- Rashtriya Ispat Nigam Limited - India
- Wilmar Investment Holdings
- Bharathi Cement Corporation - India
- Mercuria Energy - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Ministry of Finance - Indonesia
- The State Trading Corporation of India Ltd
- Cigading International Bulk Terminal - Indonesia
- Sojitz Corporation - Japan
- Port Waratah Coal Services - Australia
- VISA Power Limited - India
- Sinarmas Energy and Mining - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Sree Jayajothi Cements Limited - India
- Posco Energy - South Korea
- Banpu Public Company Limited - Thailand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- PNOC Exploration Corporation - Philippines
- Semirara Mining Corp, Philippines
- Madhucon Powers Ltd - India
- Deloitte Consulting - India
- Power Finance Corporation Ltd., India
- Timah Investasi Mineral - Indoneisa
- Karbindo Abesyapradhi - Indoneisa
- Romanian Commodities Exchange
- Orica Mining Services - Indonesia
- Ambuja Cements Ltd - India
- ASAPP Information Group - India
- Neyveli Lignite Corporation Ltd, - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Goldman Sachs - Singapore
- Mjunction Services Limited - India
- Bhushan Steel Limited - India
- ICICI Bank Limited - India
- Simpson Spence & Young - Indonesia
- Formosa Plastics Group - Taiwan
- Asmin Koalindo Tuhup - Indonesia
- Electricity Generating Authority of Thailand
- PowerSource Philippines DevCo
- Kalimantan Lumbung Energi - Indonesia
- Merrill Lynch Commodities Europe
- Samtan Co., Ltd - South Korea
- Indian Energy Exchange, India
- White Energy Company Limited
- Straits Asia Resources Limited - Singapore
- Eastern Energy - Thailand
- Coastal Gujarat Power Limited - India
- Karaikal Port Pvt Ltd - India
- Trasteel International SA, Italy
- Standard Chartered Bank - UAE
- The Treasury - Australian Government
- Carbofer General Trading SA - India
- Alfred C Toepfer International GmbH - Germany
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