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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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Monday, 13 January 14
INDONESIAN ORE BAN TO HAVE LIMITED IMPACT ON CHINESE ALUMINIUM PRODUCERS, FITCH RATINGS SAYS
COALspot.com: Fitch Ratings says today that Indonesia's ban on exports of unprocessed mineral ore will have limited impact on Chinese aluminium pro ...
Sunday, 12 January 14
THE FREIGHT MARKET CONTINUE TO REMAIN WEAK NEXT WEEK - SOLYM CARRIERS
Wish You A very Happy New Year
COALspot.com: The market has dropped quite a lot as expected due to holidays and probably also the effect of ban o ...
Friday, 10 January 14
DECISION ON ORE EXPORT BAN WILL BE MADE TOMORROW: INDUSTRY MINISTER, JG SAYS
Industry Minister M.S. Hidayat dismissed reports on Thursday that the government had made a decision on the matter. “We will only make a decis ...
Friday, 10 January 14
US COAL PRODUCTION UP 5.8% ON WEEK IN WEEK ENDED SATURDAY 4 JANUARY
COALspot.com – United States the world’s second largest coal producer, produced approximately 18.8 million short tons (mmst) of coal in ...
Thursday, 09 January 14
THE INDONESIAN GOVERNMENT EASES ORE EXPORT BAN
COALspot.com: The Indonesian government has finally agreed to ease the ore-export ban just a few days before the Sunday deadline amid protests from ...
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- Pendopo Energi Batubara - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Renaissance Capital - South Africa
- Ministry of Mines - Canada
- Indika Energy - Indonesia
- Africa Commodities Group - South Africa
- Maheswari Brothers Coal Limited - India
- Sinarmas Energy and Mining - Indonesia
- Marubeni Corporation - India
- Sical Logistics Limited - India
- Binh Thuan Hamico - Vietnam
- Kapuas Tunggal Persada - Indonesia
- Thiess Contractors Indonesia
- SMC Global Power, Philippines
- Vizag Seaport Private Limited - India
- Chamber of Mines of South Africa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- SMG Consultants - Indonesia
- Makarim & Taira - Indonesia
- New Zealand Coal & Carbon
- GMR Energy Limited - India
- Essar Steel Hazira Ltd - India
- Straits Asia Resources Limited - Singapore
- Krishnapatnam Port Company Ltd. - India
- Toyota Tsusho Corporation, Japan
- Rashtriya Ispat Nigam Limited - India
- Latin American Coal - Colombia
- Indonesian Coal Mining Association
- Parry Sugars Refinery, India
- Ceylon Electricity Board - Sri Lanka
- Indo Tambangraya Megah - Indonesia
- Kepco SPC Power Corporation, Philippines
- McConnell Dowell - Australia
- CIMB Investment Bank - Malaysia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Leighton Contractors Pty Ltd - Australia
- Iligan Light & Power Inc, Philippines
- Rio Tinto Coal - Australia
- Maharashtra Electricity Regulatory Commission - India
- Savvy Resources Ltd - HongKong
- Sakthi Sugars Limited - India
- Semirara Mining Corp, Philippines
- Eastern Energy - Thailand
- Georgia Ports Authority, United States
- Dalmia Cement Bharat India
- San Jose City I Power Corp, Philippines
- Oldendorff Carriers - Singapore
- PTC India Limited - India
- Bhoruka Overseas - Indonesia
- Simpson Spence & Young - Indonesia
- Australian Commodity Traders Exchange
- Electricity Authority, New Zealand
- PetroVietnam Power Coal Import and Supply Company
- Attock Cement Pakistan Limited
- Bhushan Steel Limited - India
- Barasentosa Lestari - Indonesia
- Kartika Selabumi Mining - Indonesia
- Commonwealth Bank - Australia
- Agrawal Coal Company - India
- GN Power Mariveles Coal Plant, Philippines
- Chettinad Cement Corporation Ltd - India
- Larsen & Toubro Limited - India
- Standard Chartered Bank - UAE
- CNBM International Corporation - China
- Siam City Cement - Thailand
- Vedanta Resources Plc - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Deloitte Consulting - India
- Ind-Barath Power Infra Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Coalindo Energy - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Borneo Indobara - Indonesia
- Meenaskhi Energy Private Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Directorate General of MIneral and Coal - Indonesia
- Malabar Cements Ltd - India
- Planning Commission, India
- Energy Link Ltd, New Zealand
- GVK Power & Infra Limited - India
- Siam City Cement PLC, Thailand
- Aboitiz Power Corporation - Philippines
- Metalloyd Limited - United Kingdom
- Gujarat Mineral Development Corp Ltd - India
- Star Paper Mills Limited - India
- Orica Australia Pty. Ltd.
- LBH Netherlands Bv - Netherlands
- Ambuja Cements Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Altura Mining Limited, Indonesia
- Madhucon Powers Ltd - India
- Semirara Mining and Power Corporation, Philippines
- TeaM Sual Corporation - Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- The State Trading Corporation of India Ltd
- Kideco Jaya Agung - Indonesia
- Merrill Lynch Commodities Europe
- Independent Power Producers Association of India
- Therma Luzon, Inc, Philippines
- Formosa Plastics Group - Taiwan
- Bukit Asam (Persero) Tbk - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Central Electricity Authority - India
- Eastern Coal Council - USA
- AsiaOL BioFuels Corp., Philippines
- Coal and Oil Company - UAE
- Edison Trading Spa - Italy
- Tamil Nadu electricity Board
- Jindal Steel & Power Ltd - India
- Ministry of Transport, Egypt
- International Coal Ventures Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- Economic Council, Georgia
- Minerals Council of Australia
- Singapore Mercantile Exchange
- Karaikal Port Pvt Ltd - India
- VISA Power Limited - India
- Xindia Steels Limited - India
- Meralco Power Generation, Philippines
- London Commodity Brokers - England
- Jaiprakash Power Ventures ltd
- Karbindo Abesyapradhi - Indoneisa
- Power Finance Corporation Ltd., India
- Tata Chemicals Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- Global Green Power PLC Corporation, Philippines
- Bhatia International Limited - India
- Samtan Co., Ltd - South Korea
- Holcim Trading Pte Ltd - Singapore
- Riau Bara Harum - Indonesia
- Indian Oil Corporation Limited
- Trasteel International SA, Italy
- Mercuria Energy - Indonesia
- Bharathi Cement Corporation - India
- Intertek Mineral Services - Indonesia
- Price Waterhouse Coopers - Russia
- Bukit Baiduri Energy - Indonesia
- Goldman Sachs - Singapore
- Grasim Industreis Ltd - India
- Posco Energy - South Korea
- Lanco Infratech Ltd - India
- SN Aboitiz Power Inc, Philippines
- GAC Shipping (India) Pvt Ltd
- Directorate Of Revenue Intelligence - India
- Wood Mackenzie - Singapore
- Sojitz Corporation - Japan
- Port Waratah Coal Services - Australia
- Interocean Group of Companies - India
- European Bulk Services B.V. - Netherlands
- Parliament of New Zealand
- Mintek Dendrill Indonesia
- Indian Energy Exchange, India
- Antam Resourcindo - Indonesia
- MS Steel International - UAE
- PowerSource Philippines DevCo
- Global Business Power Corporation, Philippines
- Salva Resources Pvt Ltd - India
- Ministry of Finance - Indonesia
- Carbofer General Trading SA - India
- Sindya Power Generating Company Private Ltd
- ASAPP Information Group - India
- Bangladesh Power Developement Board
- Cement Manufacturers Association - India
- India Bulls Power Limited - India
- Petron Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bayan Resources Tbk. - Indonesia
- Baramulti Group, Indonesia
- Cigading International Bulk Terminal - Indonesia
- Romanian Commodities Exchange
- Timah Investasi Mineral - Indoneisa
- OPG Power Generation Pvt Ltd - India
- The University of Queensland
- Central Java Power - Indonesia
- Kumho Petrochemical, South Korea
- ICICI Bank Limited - India
- Global Coal Blending Company Limited - Australia
- Thai Mozambique Logistica
- Heidelberg Cement - Germany
- Pipit Mutiara Jaya. PT, Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Indogreen Group - Indonesia
- Mjunction Services Limited - India
- Energy Development Corp, Philippines
- Gujarat Electricity Regulatory Commission - India
- Kaltim Prima Coal - Indonesia
- Sarangani Energy Corporation, Philippines
- Videocon Industries ltd - India
- Uttam Galva Steels Limited - India
- Sree Jayajothi Cements Limited - India
- Coastal Gujarat Power Limited - India
- Bukit Makmur.PT - Indonesia
- Mercator Lines Limited - India
- Wilmar Investment Holdings
- Gujarat Sidhee Cement - India
- South Luzon Thermal Energy Corporation
- Electricity Generating Authority of Thailand
- Aditya Birla Group - India
- Alfred C Toepfer International GmbH - Germany
- Globalindo Alam Lestari - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- The Treasury - Australian Government
- Orica Mining Services - Indonesia
- Bulk Trading Sa - Switzerland
- White Energy Company Limited
- IHS Mccloskey Coal Group - USA
- Vijayanagar Sugar Pvt Ltd - India
- Australian Coal Association
- Manunggal Multi Energi - Indonesia
- PNOC Exploration Corporation - Philippines
- IEA Clean Coal Centre - UK
- Anglo American - United Kingdom
- Medco Energi Mining Internasional
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