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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 $152 million selling shares in an August IPO.
Source: Bloomberg ( By Jesse Riseborough and Yoga Rusmana )
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Wednesday, 15 January 14
CFR SOUTH CHINA COAL SWAPS FALL BY 6.57% MONTH ON MONTH
COALspot.com : API 8 CFR South China Coal swaps for average Q1’ 14 delivery lost 6.57 percept month on month and closed at US$ 78.90 per mt as ...
Wednesday, 15 January 14
INDONESIAN MINING LAW AVERTS BOP PRESSURE, RISKS REMAIN, FITCH SAYS
The last-minute intervention at the weekend by Indonesia's politicians to avert a significant disruption of mining activity and exports, should lim ...
Wednesday, 15 January 14
Q3 AND Q4 INDONESIAN COAL SWAPS DECLINE MONTH ON MONTH
COALspot.com – Sub-Bit Indonesia coal swap (FOB) for average Q1’ 14 delivery lost $ 1.23 pmt month on month on Friday 10 January 2014. T ...
Wednesday, 15 January 14
PANAMAX: PACIFIC - REMAINED QUIET; ATLANTIC - CONTINUED THEIR RETREAT
COALspot.com: The holiday hangover seems well underway for the Dry Bulk market that saw more ground being lost this past week. The BDI has closed of ...
Tuesday, 14 January 14
AUSTRALIAN NEWCASTLE PORT'S WEEKLY COAL EXPORTS FALL 18.28 %
COALspot.com: In the week ended January 13, power plant and semi-soft coking coal shipments from the port of Newcastle in Queensland, totalled 2.67 ...
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- Kobexindo Tractors - Indoneisa
- Power Finance Corporation Ltd., India
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- Coal and Oil Company - UAE
- Miang Besar Coal Terminal - Indonesia
- Star Paper Mills Limited - India
- Lanco Infratech Ltd - India
- Minerals Council of Australia
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- Bangladesh Power Developement Board
- Altura Mining Limited, Indonesia
- Baramulti Group, Indonesia
- Romanian Commodities Exchange
- Offshore Bulk Terminal Pte Ltd, Singapore
- Metalloyd Limited - United Kingdom
- Leighton Contractors Pty Ltd - Australia
- Toyota Tsusho Corporation, Japan
- Bulk Trading Sa - Switzerland
- Planning Commission, India
- Ministry of Mines - Canada
- Energy Development Corp, Philippines
- Larsen & Toubro Limited - India
- Trasteel International SA, Italy
- Therma Luzon, Inc, Philippines
- Vedanta Resources Plc - India
- Bukit Asam (Persero) Tbk - Indonesia
- GMR Energy Limited - India
- Simpson Spence & Young - Indonesia
- Kaltim Prima Coal - Indonesia
- European Bulk Services B.V. - Netherlands
- Agrawal Coal Company - India
- Sakthi Sugars Limited - India
- Pendopo Energi Batubara - Indonesia
- Thiess Contractors Indonesia
- Mintek Dendrill Indonesia
- Dalmia Cement Bharat India
- Salva Resources Pvt Ltd - India
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- Chamber of Mines of South Africa
- Borneo Indobara - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bahari Cakrawala Sebuku - Indonesia
- Sree Jayajothi Cements Limited - India
- Coalindo Energy - Indonesia
- The University of Queensland
- Gujarat Mineral Development Corp Ltd - India
- Meenaskhi Energy Private Limited - India
- Global Coal Blending Company Limited - Australia
- Essar Steel Hazira Ltd - India
- SMG Consultants - Indonesia
- Sinarmas Energy and Mining - Indonesia
- LBH Netherlands Bv - Netherlands
- Directorate General of MIneral and Coal - Indonesia
- The State Trading Corporation of India Ltd
- Karaikal Port Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Rashtriya Ispat Nigam Limited - India
- Rio Tinto Coal - Australia
- Binh Thuan Hamico - Vietnam
- India Bulls Power Limited - India
- Thai Mozambique Logistica
- Manunggal Multi Energi - Indonesia
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- PetroVietnam Power Coal Import and Supply Company
- Directorate Of Revenue Intelligence - India
- TNB Fuel Sdn Bhd - Malaysia
- Edison Trading Spa - Italy
- Orica Australia Pty. Ltd.
- Karbindo Abesyapradhi - Indoneisa
- Kapuas Tunggal Persada - Indonesia
- Makarim & Taira - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Bayan Resources Tbk. - Indonesia
- Siam City Cement - Thailand
- Krishnapatnam Port Company Ltd. - India
- Globalindo Alam Lestari - Indonesia
- Savvy Resources Ltd - HongKong
- Merrill Lynch Commodities Europe
- Pipit Mutiara Jaya. PT, Indonesia
- Economic Council, Georgia
- ICICI Bank Limited - India
- Bhushan Steel Limited - India
- Semirara Mining Corp, Philippines
- The Treasury - Australian Government
- CNBM International Corporation - China
- International Coal Ventures Pvt Ltd - India
- Posco Energy - South Korea
- Riau Bara Harum - Indonesia
- Banpu Public Company Limited - Thailand
- Sical Logistics Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Tata Chemicals Ltd - India
- Kepco SPC Power Corporation, Philippines
- Samtan Co., Ltd - South Korea
- Bharathi Cement Corporation - India
- Bhoruka Overseas - Indonesia
- OPG Power Generation Pvt Ltd - India
- Antam Resourcindo - Indonesia
- Aditya Birla Group - India
- London Commodity Brokers - England
- Parliament of New Zealand
- Xindia Steels Limited - India
- South Luzon Thermal Energy Corporation
- Indogreen Group - Indonesia
- Energy Link Ltd, New Zealand
- Anglo American - United Kingdom
- VISA Power Limited - India
- Cement Manufacturers Association - India
- Mjunction Services Limited - India
- Meralco Power Generation, Philippines
- Marubeni Corporation - India
- Indika Energy - Indonesia
- Indo Tambangraya Megah - Indonesia
- Barasentosa Lestari - Indonesia
- Petron Corporation, Philippines
- Jindal Steel & Power Ltd - India
- Wood Mackenzie - Singapore
- Iligan Light & Power Inc, Philippines
- CIMB Investment Bank - Malaysia
- Electricity Authority, New Zealand
- Commonwealth Bank - Australia
- GVK Power & Infra Limited - India
- Wilmar Investment Holdings
- Gujarat Electricity Regulatory Commission - India
- Ambuja Cements Ltd - India
- Medco Energi Mining Internasional
- Cigading International Bulk Terminal - Indonesia
- Heidelberg Cement - Germany
- Central Electricity Authority - India
- Mercuria Energy - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Maheswari Brothers Coal Limited - India
- Jaiprakash Power Ventures ltd
- Semirara Mining and Power Corporation, Philippines
- Interocean Group of Companies - India
- San Jose City I Power Corp, Philippines
- Eastern Coal Council - USA
- Neyveli Lignite Corporation Ltd, - India
- Renaissance Capital - South Africa
- Global Green Power PLC Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Global Business Power Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Oldendorff Carriers - Singapore
- Electricity Generating Authority of Thailand
- SMC Global Power, Philippines
- SN Aboitiz Power Inc, Philippines
- Madhucon Powers Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Attock Cement Pakistan Limited
- Carbofer General Trading SA - India
- MS Steel International - UAE
- TeaM Sual Corporation - Philippines
- Africa Commodities Group - South Africa
- GAC Shipping (India) Pvt Ltd
- IHS Mccloskey Coal Group - USA
- Indian Oil Corporation Limited
- Chettinad Cement Corporation Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- PowerSource Philippines DevCo
- McConnell Dowell - Australia
- Latin American Coal - Colombia
- Standard Chartered Bank - UAE
- Videocon Industries ltd - India
- Kideco Jaya Agung - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Kumho Petrochemical, South Korea
- Coastal Gujarat Power Limited - India
- Indian Energy Exchange, India
- Ministry of Transport, Egypt
- Kartika Selabumi Mining - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- PTC India Limited - India
- Billiton Holdings Pty Ltd - Australia
- Siam City Cement PLC, Thailand
- Australian Coal Association
- Eastern Energy - Thailand
- Malabar Cements Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Australian Commodity Traders Exchange
- Mercator Lines Limited - India
- Parry Sugars Refinery, India
- Alfred C Toepfer International GmbH - Germany
- Goldman Sachs - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bukit Baiduri Energy - Indonesia
- Straits Asia Resources Limited - Singapore
- IEA Clean Coal Centre - UK
- White Energy Company Limited
- ASAPP Information Group - India
- Ind-Barath Power Infra Limited - India
- Uttam Galva Steels Limited - India
- Sojitz Corporation - Japan
- Indonesian Coal Mining Association
- Petrochimia International Co. Ltd.- Taiwan
- PNOC Exploration Corporation - Philippines
- Tamil Nadu electricity Board
- Price Waterhouse Coopers - Russia
- Sindya Power Generating Company Private Ltd
- Bukit Makmur.PT - Indonesia
- Georgia Ports Authority, United States
- New Zealand Coal & Carbon
- Port Waratah Coal Services - Australia
- Aboitiz Power Corporation - Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- Ministry of Finance - Indonesia
- Timah Investasi Mineral - Indoneisa
- Grasim Industreis Ltd - India
- Bhatia International Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Orica Mining Services - Indonesia
- Sarangani Energy Corporation, Philippines
- Singapore Mercantile Exchange
- Independent Power Producers Association of India
- Deloitte Consulting - India
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