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, 30 May 14
US COAL PRODUCTION RELATIVELY FLAT WEEK ON WEEK
COALspot.com – United States the world's second largest coal producer, produced approximately 18.6 million short tons (mmst) of coal in a ...
Thursday, 29 May 14
PEABODY ENERGY CHAIRMAN RECEIVES WCA AWARD
The World Coal Association has presented Gregory H. Boyce, Chairman and Chief Executive Officer of Peabody Energy (NYSE: BTU), with the 2014 Chairm ...
Thursday, 29 May 14
HANDY : THE SUPRAS ARE BEING TRADED AROUND 13K FOR SHORTER UPTO 1 YEAR PERIOD
Handy
The week started off with bank holidays in London and very little happening. This trend has continued and we believe it will continue into ...
Wednesday, 28 May 14
THE DRY BULK MARKET REMAINED UNDER PRESSURE - INTERMODAL
COALspot.com: The Dry Bulk market remained under pressure during this past week, with all indices pointing down compared to the previous Friday. Th ...
Tuesday, 27 May 14
PORT OF NEWCASTLE SHIPPED 19.13% LESS COAL THIS PAST WEEK
COALspot.com: In the week ended 07:00 hours 26 May 2014, power plant and semi-soft coking coal shipments from the port of Newcastle in Queensland, ...
|
|
|
Showing 3681 to 3685 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Anglo American - United Kingdom
- Mjunction Services Limited - India
- CNBM International Corporation - China
- Interocean Group of Companies - India
- Riau Bara Harum - Indonesia
- Bayan Resources Tbk. - Indonesia
- London Commodity Brokers - England
- Bangladesh Power Developement Board
- Economic Council, Georgia
- Kartika Selabumi Mining - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- OPG Power Generation Pvt Ltd - India
- Orica Mining Services - Indonesia
- Cement Manufacturers Association - India
- Bulk Trading Sa - Switzerland
- Merrill Lynch Commodities Europe
- Sindya Power Generating Company Private Ltd
- Meralco Power Generation, Philippines
- Bharathi Cement Corporation - India
- Carbofer General Trading SA - India
- Bhatia International Limited - India
- Indo Tambangraya Megah - Indonesia
- Ambuja Cements Ltd - India
- Borneo Indobara - Indonesia
- Uttam Galva Steels Limited - India
- South Luzon Thermal Energy Corporation
- The Treasury - Australian Government
- Petrochimia International Co. Ltd.- Taiwan
- Intertek Mineral Services - Indonesia
- Savvy Resources Ltd - HongKong
- Commonwealth Bank - Australia
- Mintek Dendrill Indonesia
- Ind-Barath Power Infra Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Wilmar Investment Holdings
- Asmin Koalindo Tuhup - Indonesia
- PNOC Exploration Corporation - Philippines
- Pendopo Energi Batubara - Indonesia
- Chamber of Mines of South Africa
- Vizag Seaport Private Limited - India
- Krishnapatnam Port Company Ltd. - India
- Indian Oil Corporation Limited
- Oldendorff Carriers - Singapore
- Bhoruka Overseas - Indonesia
- Global Coal Blending Company Limited - Australia
- Standard Chartered Bank - UAE
- Neyveli Lignite Corporation Ltd, - India
- Toyota Tsusho Corporation, Japan
- MS Steel International - UAE
- Sarangani Energy Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Madhucon Powers Ltd - India
- SMC Global Power, Philippines
- Eastern Coal Council - USA
- Gujarat Electricity Regulatory Commission - India
- Coal and Oil Company - UAE
- Ceylon Electricity Board - Sri Lanka
- European Bulk Services B.V. - Netherlands
- Vijayanagar Sugar Pvt Ltd - India
- Power Finance Corporation Ltd., India
- Mercuria Energy - Indonesia
- Rashtriya Ispat Nigam Limited - India
- ASAPP Information Group - India
- Therma Luzon, Inc, Philippines
- GMR Energy Limited - India
- Port Waratah Coal Services - Australia
- Kaltim Prima Coal - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Sakthi Sugars Limited - India
- Formosa Plastics Group - Taiwan
- Baramulti Group, Indonesia
- Posco Energy - South Korea
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- GN Power Mariveles Coal Plant, Philippines
- SN Aboitiz Power Inc, Philippines
- Planning Commission, India
- Australian Commodity Traders Exchange
- Cigading International Bulk Terminal - Indonesia
- Simpson Spence & Young - Indonesia
- Iligan Light & Power Inc, Philippines
- ICICI Bank Limited - India
- Sojitz Corporation - Japan
- Agrawal Coal Company - India
- Thai Mozambique Logistica
- Makarim & Taira - Indonesia
- Mercator Lines Limited - India
- Central Electricity Authority - India
- Directorate General of MIneral and Coal - Indonesia
- Georgia Ports Authority, United States
- AsiaOL BioFuels Corp., Philippines
- Tamil Nadu electricity Board
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indonesian Coal Mining Association
- Gujarat Sidhee Cement - India
- Coastal Gujarat Power Limited - India
- Bukit Baiduri Energy - Indonesia
- Energy Link Ltd, New Zealand
- Kideco Jaya Agung - Indonesia
- Kumho Petrochemical, South Korea
- Maheswari Brothers Coal Limited - India
- Tata Chemicals Ltd - India
- White Energy Company Limited
- Videocon Industries ltd - India
- GVK Power & Infra Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Indian Energy Exchange, India
- Directorate Of Revenue Intelligence - India
- Larsen & Toubro Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Manunggal Multi Energi - Indonesia
- Semirara Mining Corp, Philippines
- Dalmia Cement Bharat India
- Antam Resourcindo - Indonesia
- Edison Trading Spa - Italy
- Attock Cement Pakistan Limited
- The University of Queensland
- Vedanta Resources Plc - India
- Holcim Trading Pte Ltd - Singapore
- Barasentosa Lestari - Indonesia
- Malabar Cements Ltd - India
- Ministry of Finance - Indonesia
- Marubeni Corporation - India
- Singapore Mercantile Exchange
- Meenaskhi Energy Private Limited - India
- Alfred C Toepfer International GmbH - Germany
- Heidelberg Cement - Germany
- Banpu Public Company Limited - Thailand
- Electricity Authority, New Zealand
- Miang Besar Coal Terminal - Indonesia
- Essar Steel Hazira Ltd - India
- Grasim Industreis Ltd - India
- Kobexindo Tractors - Indoneisa
- International Coal Ventures Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- Metalloyd Limited - United Kingdom
- Straits Asia Resources Limited - Singapore
- Thiess Contractors Indonesia
- Rio Tinto Coal - Australia
- Goldman Sachs - Singapore
- McConnell Dowell - Australia
- Latin American Coal - Colombia
- Karaikal Port Pvt Ltd - India
- Indika Energy - Indonesia
- IEA Clean Coal Centre - UK
- Bhushan Steel Limited - India
- Global Business Power Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Timah Investasi Mineral - Indoneisa
- Binh Thuan Hamico - Vietnam
- Kapuas Tunggal Persada - Indonesia
- GAC Shipping (India) Pvt Ltd
- Central Java Power - Indonesia
- Orica Australia Pty. Ltd.
- Offshore Bulk Terminal Pte Ltd, Singapore
- Minerals Council of Australia
- VISA Power Limited - India
- Electricity Generating Authority of Thailand
- Jaiprakash Power Ventures ltd
- Bukit Makmur.PT - Indonesia
- Jindal Steel & Power Ltd - India
- Siam City Cement PLC, Thailand
- Altura Mining Limited, Indonesia
- PTC India Limited - India
- Wood Mackenzie - Singapore
- Aditya Birla Group - India
- Parry Sugars Refinery, India
- PowerSource Philippines DevCo
- India Bulls Power Limited - India
- Trasteel International SA, Italy
- Romanian Commodities Exchange
- Parliament of New Zealand
- Semirara Mining and Power Corporation, Philippines
- Ministry of Transport, Egypt
- Samtan Co., Ltd - South Korea
- Renaissance Capital - South Africa
- Bank of Tokyo Mitsubishi UFJ Ltd
- Globalindo Alam Lestari - Indonesia
- Chettinad Cement Corporation Ltd - India
- Salva Resources Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Xindia Steels Limited - India
- Deloitte Consulting - India
- The State Trading Corporation of India Ltd
- Australian Coal Association
- Indogreen Group - Indonesia
- Eastern Energy - Thailand
- Siam City Cement - Thailand
- Star Paper Mills Limited - India
- TeaM Sual Corporation - Philippines
- Lanco Infratech Ltd - India
- Petron Corporation, Philippines
- Coalindo Energy - Indonesia
- San Jose City I Power Corp, Philippines
- LBH Netherlands Bv - Netherlands
- Kohat Cement Company Ltd. - Pakistan
- Ministry of Mines - Canada
- Kalimantan Lumbung Energi - Indonesia
- SMG Consultants - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Medco Energi Mining Internasional
- Maharashtra Electricity Regulatory Commission - India
- Jorong Barutama Greston.PT - Indonesia
- Price Waterhouse Coopers - Russia
- Independent Power Producers Association of India
- Africa Commodities Group - South Africa
- Leighton Contractors Pty Ltd - Australia
- Billiton Holdings Pty Ltd - Australia
- Sree Jayajothi Cements Limited - India
- Energy Development Corp, Philippines
- IHS Mccloskey Coal Group - USA
- New Zealand Coal & Carbon
- Global Green Power PLC Corporation, Philippines
- Sical Logistics Limited - India
- Kepco SPC Power Corporation, Philippines
|
| |
| |
|
