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 $152 million selling shares in an August IPO.
Source: Bloomberg ( By Jesse Riseborough and Yoga Rusmana )
If you believe an article violates your rights or the rights of others, please contact us.
|
|
Friday, 04 October 13
US COAL PRODUCTION UP 2.1% WEEK ON WEEK - EIA
COALspot.com – United States the world’s second largest coal producer produced approximately 19.70 million short tons (mmst) of coal in ...
Thursday, 03 October 13
INDONESIA AUGUST COAL EXPORTS FALL 12.90 % FROM JULY TO 30.71 MIL MT
COALspot.com: Indonesia, the 15th largest economy in world, 4th largest coal producer in world and world's largest multi grade coal exporter ...
Thursday, 03 October 13
TOP FOUR U.S. COAL COMPANIES SUPPLIED MORE THAN HALF OF U.S. COAL PRODUCTION IN 2011 - EIA
In the past two years, more than half of U.S. coal production was attributable to the top four coal producers, the result of changes in regional pro ...
Thursday, 03 October 13
HANDY: PERIOD MARKET STAND IN GOOD POSITION - FEARNRESEARCH
Handy
Nickel ore and Bauxite was active last week but slowed down now due to Chinese holidays. Ships opened in North China fixed at US$ 11-13k leve ...
Wednesday, 02 October 13
DRY BULK MARKET IS STILL MAINTAINING ITS UPWARD DIRECTION
Chartering (Wet: Stable- / Dry: Firm+)
Despite the fact that rates for Capes didn't continue their crazy ride this past week, the Dry Bulk market ...
|
|
|
Showing 4086 to 4090 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- IEA Clean Coal Centre - UK
- Attock Cement Pakistan Limited
- International Coal Ventures Pvt Ltd - India
- White Energy Company Limited
- Baramulti Group, Indonesia
- Meenaskhi Energy Private Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Jaiprakash Power Ventures ltd
- Global Green Power PLC Corporation, Philippines
- The Treasury - Australian Government
- Tamil Nadu electricity Board
- IHS Mccloskey Coal Group - USA
- McConnell Dowell - Australia
- Bharathi Cement Corporation - India
- Global Coal Blending Company Limited - Australia
- Bukit Baiduri Energy - Indonesia
- Wilmar Investment Holdings
- Economic Council, Georgia
- Pipit Mutiara Jaya. PT, Indonesia
- Kartika Selabumi Mining - Indonesia
- Makarim & Taira - Indonesia
- Jindal Steel & Power Ltd - India
- Mercuria Energy - Indonesia
- Barasentosa Lestari - Indonesia
- Electricity Authority, New Zealand
- Sarangani Energy Corporation, Philippines
- Ministry of Mines - Canada
- Price Waterhouse Coopers - Russia
- Jorong Barutama Greston.PT - Indonesia
- Toyota Tsusho Corporation, Japan
- TNB Fuel Sdn Bhd - Malaysia
- Indian Energy Exchange, India
- Sical Logistics Limited - India
- New Zealand Coal & Carbon
- Aditya Birla Group - India
- ASAPP Information Group - India
- Deloitte Consulting - India
- GN Power Mariveles Coal Plant, Philippines
- Gujarat Electricity Regulatory Commission - India
- Standard Chartered Bank - UAE
- PetroVietnam Power Coal Import and Supply Company
- PTC India Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Renaissance Capital - South Africa
- Oldendorff Carriers - Singapore
- Bulk Trading Sa - Switzerland
- Sakthi Sugars Limited - India
- Heidelberg Cement - Germany
- Semirara Mining Corp, Philippines
- Electricity Generating Authority of Thailand
- European Bulk Services B.V. - Netherlands
- Bhatia International Limited - India
- Thai Mozambique Logistica
- Bank of Tokyo Mitsubishi UFJ Ltd
- TeaM Sual Corporation - Philippines
- Kohat Cement Company Ltd. - Pakistan
- Cigading International Bulk Terminal - Indonesia
- OPG Power Generation Pvt Ltd - India
- Borneo Indobara - Indonesia
- Indian Oil Corporation Limited
- Indonesian Coal Mining Association
- Sindya Power Generating Company Private Ltd
- Riau Bara Harum - Indonesia
- Trasteel International SA, Italy
- Savvy Resources Ltd - HongKong
- Central Java Power - Indonesia
- Kideco Jaya Agung - Indonesia
- Globalindo Alam Lestari - Indonesia
- Meralco Power Generation, Philippines
- Semirara Mining and Power Corporation, Philippines
- Samtan Co., Ltd - South Korea
- Kumho Petrochemical, South Korea
- Kobexindo Tractors - Indoneisa
- Ind-Barath Power Infra Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Larsen & Toubro Limited - India
- Altura Mining Limited, Indonesia
- Uttam Galva Steels Limited - India
- Madhucon Powers Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Energy Development Corp, Philippines
- India Bulls Power Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Coal and Oil Company - UAE
- Offshore Bulk Terminal Pte Ltd, Singapore
- Directorate Of Revenue Intelligence - India
- Merrill Lynch Commodities Europe
- Marubeni Corporation - India
- Karaikal Port Pvt Ltd - India
- Bangladesh Power Developement Board
- Bukit Asam (Persero) Tbk - Indonesia
- Parliament of New Zealand
- Billiton Holdings Pty Ltd - Australia
- Pendopo Energi Batubara - Indonesia
- Eastern Coal Council - USA
- Petron Corporation, Philippines
- Coastal Gujarat Power Limited - India
- Kaltim Prima Coal - Indonesia
- Star Paper Mills Limited - India
- Timah Investasi Mineral - Indoneisa
- Port Waratah Coal Services - Australia
- Binh Thuan Hamico - Vietnam
- Vizag Seaport Private Limited - India
- Sojitz Corporation - Japan
- Vijayanagar Sugar Pvt Ltd - India
- Ministry of Finance - Indonesia
- Medco Energi Mining Internasional
- CIMB Investment Bank - Malaysia
- Latin American Coal - Colombia
- Independent Power Producers Association of India
- Holcim Trading Pte Ltd - Singapore
- Videocon Industries ltd - India
- Antam Resourcindo - Indonesia
- GMR Energy Limited - India
- Siam City Cement - Thailand
- Asmin Koalindo Tuhup - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Bukit Makmur.PT - Indonesia
- LBH Netherlands Bv - Netherlands
- AsiaOL BioFuels Corp., Philippines
- Grasim Industreis Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Petrochimia International Co. Ltd.- Taiwan
- Malabar Cements Ltd - India
- Australian Commodity Traders Exchange
- Dalmia Cement Bharat India
- Miang Besar Coal Terminal - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Chettinad Cement Corporation Ltd - India
- Indo Tambangraya Megah - Indonesia
- Tata Chemicals Ltd - India
- Singapore Mercantile Exchange
- GAC Shipping (India) Pvt Ltd
- Salva Resources Pvt Ltd - India
- Interocean Group of Companies - India
- Maheswari Brothers Coal Limited - India
- Kepco SPC Power Corporation, Philippines
- CNBM International Corporation - China
- Ceylon Electricity Board - Sri Lanka
- Chamber of Mines of South Africa
- Xindia Steels Limited - India
- Lanco Infratech Ltd - India
- Romanian Commodities Exchange
- Orica Australia Pty. Ltd.
- Leighton Contractors Pty Ltd - Australia
- Mintek Dendrill Indonesia
- The State Trading Corporation of India Ltd
- Carbofer General Trading SA - India
- Indogreen Group - Indonesia
- Agrawal Coal Company - India
- Posco Energy - South Korea
- Power Finance Corporation Ltd., India
- SMG Consultants - Indonesia
- Mercator Lines Limited - India
- Thiess Contractors Indonesia
- Bhushan Steel Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- PNOC Exploration Corporation - Philippines
- Straits Asia Resources Limited - Singapore
- Global Business Power Corporation, Philippines
- South Luzon Thermal Energy Corporation
- Iligan Light & Power Inc, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Georgia Ports Authority, United States
- Manunggal Multi Energi - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- PowerSource Philippines DevCo
- ICICI Bank Limited - India
- Wood Mackenzie - Singapore
- Rio Tinto Coal - Australia
- Gujarat Sidhee Cement - India
- Edison Trading Spa - Italy
- Anglo American - United Kingdom
- VISA Power Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Parry Sugars Refinery, India
- Siam City Cement PLC, Thailand
- Central Electricity Authority - India
- SMC Global Power, Philippines
- Mjunction Services Limited - India
- London Commodity Brokers - England
- Eastern Energy - Thailand
- Africa Commodities Group - South Africa
- Planning Commission, India
- Coalindo Energy - Indonesia
- Commonwealth Bank - Australia
- GVK Power & Infra Limited - India
- Banpu Public Company Limited - Thailand
- Australian Coal Association
- Intertek Mineral Services - Indonesia
- Ministry of Transport, Egypt
- Maharashtra Electricity Regulatory Commission - India
- Bhoruka Overseas - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Minerals Council of Australia
- Cement Manufacturers Association - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Vedanta Resources Plc - India
- MS Steel International - UAE
- Energy Link Ltd, New Zealand
- Essar Steel Hazira Ltd - India
- Goldman Sachs - Singapore
- Metalloyd Limited - United Kingdom
- Indika Energy - Indonesia
- Bayan Resources Tbk. - Indonesia
- Sree Jayajothi Cements Limited - India
- Therma Luzon, Inc, Philippines
- Kapuas Tunggal Persada - Indonesia
- Aboitiz Power Corporation - Philippines
- The University of Queensland
- Orica Mining Services - Indonesia
- Ambuja Cements Ltd - India
- San Jose City I Power Corp, Philippines
- SN Aboitiz Power Inc, Philippines
- Formosa Plastics Group - Taiwan
- Sinarmas Energy and Mining - Indonesia
- Simpson Spence & Young - Indonesia
|
| |
| |
|
