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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 $152 million selling shares in an August IPO.
Source: Bloomberg ( By Jesse Riseborough and Yoga Rusmana )
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Tuesday, 28 January 14
RESOURCE NATIONALISM OR PROTECTIONISM FOR THE MINING AND EXTRACTIVES INDUSTRY - JOHN WHITTAKER & MICHAEL SWANGARD
Resource nationalism or protectionism for the mining and extractives industry as well as soft commodities sector and the oil industry.
‘Res ...
Tuesday, 28 January 14
DRY BULK SHIP OWNERS RETREAT TO OLD 'HABITS', REFUSING TO DEMOLISH OLD VESSELS, THREATENING MARKET RECOVERY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
If one thing is clear as we reflect on the 2013 shipping markets, it's that ship owners took advantage of low prices, in order to acquire newer ton ...
Monday, 27 January 14
MERCATOR SINGAPORE REPORTS 52% INCREASE IN EBITDA FOR Q3 FY 2014 AS COMPARED TO PREVIOUS QUARTER
COALspot.com: Mercator Lines (Singapore) Limited, a leading Indian-owned international dry bulk shipping company that operates a fleet of fourteen d ...
Monday, 27 January 14
13TH CLEAN COAL FORUM 2014
COALspot.com: (Press Release) - Produced by CDMC Events, The 13th Clean Coal Forum 2014 will be held on June 12 &13 2014 in Beijing, China. We a ...
Monday, 27 January 14
Q3 & Q4 API 8 CFR SOUTH CHINA COAL SWAPS CONTINUE TO REMAIN WEAK
COALspot.com: API 8 CFR South China Coal swaps for average Q1 14 delivery lost 4.45 percent month on month and closed at US$ 79.05 per mt as on Frid ...
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- Ministry of Mines - Canada
- Australian Coal Association
- Global Coal Blending Company Limited - Australia
- Romanian Commodities Exchange
- Samtan Co., Ltd - South Korea
- SMC Global Power, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Thai Mozambique Logistica
- Karaikal Port Pvt Ltd - India
- Baramulti Group, Indonesia
- Vizag Seaport Private Limited - India
- Africa Commodities Group - South Africa
- Kideco Jaya Agung - Indonesia
- Central Java Power - Indonesia
- Barasentosa Lestari - Indonesia
- Bayan Resources Tbk. - Indonesia
- Mintek Dendrill Indonesia
- CNBM International Corporation - China
- Global Business Power Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Bhushan Steel Limited - India
- Bhoruka Overseas - Indonesia
- Bukit Makmur.PT - Indonesia
- Vedanta Resources Plc - India
- Makarim & Taira - Indonesia
- IHS Mccloskey Coal Group - USA
- Cigading International Bulk Terminal - Indonesia
- Cement Manufacturers Association - India
- IEA Clean Coal Centre - UK
- Indogreen Group - Indonesia
- Straits Asia Resources Limited - Singapore
- Timah Investasi Mineral - Indoneisa
- Thiess Contractors Indonesia
- MS Steel International - UAE
- Ind-Barath Power Infra Limited - India
- Coal and Oil Company - UAE
- OPG Power Generation Pvt Ltd - India
- McConnell Dowell - Australia
- Meenaskhi Energy Private Limited - India
- Global Green Power PLC Corporation, Philippines
- CIMB Investment Bank - Malaysia
- LBH Netherlands Bv - Netherlands
- Minerals Council of Australia
- Kaltim Prima Coal - Indonesia
- Anglo American - United Kingdom
- Siam City Cement - Thailand
- Salva Resources Pvt Ltd - India
- Videocon Industries ltd - India
- Tata Chemicals Ltd - India
- Power Finance Corporation Ltd., India
- Iligan Light & Power Inc, Philippines
- Therma Luzon, Inc, Philippines
- Energy Link Ltd, New Zealand
- Electricity Authority, New Zealand
- Ministry of Transport, Egypt
- TNB Fuel Sdn Bhd - Malaysia
- Latin American Coal - Colombia
- Jindal Steel & Power Ltd - India
- Chamber of Mines of South Africa
- Trasteel International SA, Italy
- GAC Shipping (India) Pvt Ltd
- Gujarat Mineral Development Corp Ltd - India
- Madhucon Powers Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Gujarat Electricity Regulatory Commission - India
- Miang Besar Coal Terminal - Indonesia
- Savvy Resources Ltd - HongKong
- Meralco Power Generation, Philippines
- Jaiprakash Power Ventures ltd
- Goldman Sachs - Singapore
- Semirara Mining Corp, Philippines
- Planning Commission, India
- The Treasury - Australian Government
- Billiton Holdings Pty Ltd - Australia
- ASAPP Information Group - India
- Renaissance Capital - South Africa
- Sindya Power Generating Company Private Ltd
- Simpson Spence & Young - Indonesia
- Edison Trading Spa - Italy
- London Commodity Brokers - England
- Toyota Tsusho Corporation, Japan
- Banpu Public Company Limited - Thailand
- Kalimantan Lumbung Energi - Indonesia
- Sakthi Sugars Limited - India
- Sical Logistics Limited - India
- The University of Queensland
- Singapore Mercantile Exchange
- Port Waratah Coal Services - Australia
- South Luzon Thermal Energy Corporation
- PowerSource Philippines DevCo
- Uttam Galva Steels Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Pendopo Energi Batubara - Indonesia
- ICICI Bank Limited - India
- Independent Power Producers Association of India
- Posco Energy - South Korea
- Indika Energy - Indonesia
- Parliament of New Zealand
- Lanco Infratech Ltd - India
- Eastern Coal Council - USA
- Directorate Of Revenue Intelligence - India
- Kepco SPC Power Corporation, Philippines
- Xindia Steels Limited - India
- Oldendorff Carriers - Singapore
- Medco Energi Mining Internasional
- India Bulls Power Limited - India
- Larsen & Toubro Limited - India
- Altura Mining Limited, Indonesia
- Orica Australia Pty. Ltd.
- Deloitte Consulting - India
- Economic Council, Georgia
- Bangladesh Power Developement Board
- Directorate General of MIneral and Coal - Indonesia
- Sinarmas Energy and Mining - Indonesia
- TeaM Sual Corporation - Philippines
- Merrill Lynch Commodities Europe
- Kohat Cement Company Ltd. - Pakistan
- Kartika Selabumi Mining - Indonesia
- The State Trading Corporation of India Ltd
- Gujarat Sidhee Cement - India
- Maharashtra Electricity Regulatory Commission - India
- Eastern Energy - Thailand
- Aboitiz Power Corporation - Philippines
- Intertek Mineral Services - Indonesia
- Star Paper Mills Limited - India
- Siam City Cement PLC, Thailand
- Standard Chartered Bank - UAE
- Indonesian Coal Mining Association
- Carbofer General Trading SA - India
- Central Electricity Authority - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sarangani Energy Corporation, Philippines
- San Jose City I Power Corp, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Heidelberg Cement - Germany
- White Energy Company Limited
- SN Aboitiz Power Inc, Philippines
- Energy Development Corp, Philippines
- GVK Power & Infra Limited - India
- Holcim Trading Pte Ltd - Singapore
- Mjunction Services Limited - India
- Bulk Trading Sa - Switzerland
- Bharathi Cement Corporation - India
- Vijayanagar Sugar Pvt Ltd - India
- Wilmar Investment Holdings
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- GMR Energy Limited - India
- Binh Thuan Hamico - Vietnam
- PTC India Limited - India
- Grasim Industreis Ltd - India
- Orica Mining Services - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Coastal Gujarat Power Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Georgia Ports Authority, United States
- Ambuja Cements Ltd - India
- Rio Tinto Coal - Australia
- Malabar Cements Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Pipit Mutiara Jaya. PT, Indonesia
- Marubeni Corporation - India
- Agrawal Coal Company - India
- AsiaOL BioFuels Corp., Philippines
- Neyveli Lignite Corporation Ltd, - India
- Electricity Generating Authority of Thailand
- Alfred C Toepfer International GmbH - Germany
- Globalindo Alam Lestari - Indonesia
- Riau Bara Harum - Indonesia
- Antam Resourcindo - Indonesia
- Price Waterhouse Coopers - Russia
- Sojitz Corporation - Japan
- Tamil Nadu electricity Board
- PNOC Exploration Corporation - Philippines
- SMG Consultants - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Borneo Indobara - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Essar Steel Hazira Ltd - India
- Bhatia International Limited - India
- Chettinad Cement Corporation Ltd - India
- Indian Oil Corporation Limited
- Rashtriya Ispat Nigam Limited - India
- Mercuria Energy - Indonesia
- Sree Jayajothi Cements Limited - India
- Petron Corporation, Philippines
- Aditya Birla Group - India
- Manunggal Multi Energi - Indonesia
- Formosa Plastics Group - Taiwan
- Attock Cement Pakistan Limited
- Kobexindo Tractors - Indoneisa
- Coalindo Energy - Indonesia
- Mercator Lines Limited - India
- European Bulk Services B.V. - Netherlands
- Dalmia Cement Bharat India
- PetroVietnam Power Coal Import and Supply Company
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indo Tambangraya Megah - Indonesia
- Parry Sugars Refinery, India
- Kumho Petrochemical, South Korea
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Commonwealth Bank - Australia
- Bukit Baiduri Energy - Indonesia
- Indian Energy Exchange, India
- Australian Commodity Traders Exchange
- Metalloyd Limited - United Kingdom
- New Zealand Coal & Carbon
- Interocean Group of Companies - India
- Ministry of Finance - Indonesia
- Kapuas Tunggal Persada - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Jorong Barutama Greston.PT - Indonesia
- VISA Power Limited - India
- Maheswari Brothers Coal Limited - India
- Semirara Mining and Power Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- Wood Mackenzie - Singapore
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