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, 20 September 13
DRY BULK MARKET REACHES NEW HEIGHTS THIS WEEK STANDING AT THREE-YEAR HIGH - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The biggest rally of the dry bulk market in more than three years have brought back joy among ship owners, especially those active in the Capesize m ...
Friday, 20 September 13
US COAL PRODUCTION SLIGHTLY UP WEEK ON WEEK
COALspot.com – United States the world’s second largest coal producer produced totalled approximately 20.30 million short tons (mmst) of ...
Friday, 20 September 13
COLOMBIA SHIPPED 31.14 MILLION TONS OF THERMAL COAL IN H1
COALspot.com : Colombia’s coal exports fell by 20.59 percent in June 2013 compared to Colombia’s May's export of 7,633,579 MT.
Colom ...
Thursday, 19 September 13
CAPESIZE : AVERAGE DAILY EARNINGS HAVE GAINED ALMOST USD 6K WOW - FEARNLEYS
Handy
The rates in Feast are still firm this week even the activity calmed down a bit as chrtrs are not in a rush to cover even their end Sept carg ...
Wednesday, 18 September 13
IRON ORE AND ZINC ARE BEST PERFORMING MINING SECTORS IN CURRENT LOW PRICE, HIGH COST ENVIRONMENT - WOOD MACKENZIE
With the fall in commodity prices, cash margins in the mining industry have come under pressure. Accordingly, producers and investors are placing in ...
|
|
|
Showing 4111 to 4115 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Indogreen Group - Indonesia
- CIMB Investment Bank - Malaysia
- Chamber of Mines of South Africa
- Deloitte Consulting - India
- Billiton Holdings Pty Ltd - Australia
- Singapore Mercantile Exchange
- GAC Shipping (India) Pvt Ltd
- Riau Bara Harum - Indonesia
- Trasteel International SA, Italy
- Manunggal Multi Energi - Indonesia
- Kaltim Prima Coal - Indonesia
- Bhoruka Overseas - Indonesia
- Africa Commodities Group - South Africa
- Sojitz Corporation - Japan
- CNBM International Corporation - China
- Medco Energi Mining Internasional
- PNOC Exploration Corporation - Philippines
- SMC Global Power, Philippines
- Altura Mining Limited, Indonesia
- PTC India Limited - India
- Tamil Nadu electricity Board
- Electricity Authority, New Zealand
- Marubeni Corporation - India
- Karbindo Abesyapradhi - Indoneisa
- Bahari Cakrawala Sebuku - Indonesia
- Coastal Gujarat Power Limited - India
- Rashtriya Ispat Nigam Limited - India
- Jindal Steel & Power Ltd - India
- SN Aboitiz Power Inc, Philippines
- Alfred C Toepfer International GmbH - Germany
- Australian Coal Association
- Energy Development Corp, Philippines
- South Luzon Thermal Energy Corporation
- Barasentosa Lestari - Indonesia
- Global Coal Blending Company Limited - Australia
- Goldman Sachs - Singapore
- Thai Mozambique Logistica
- Central Java Power - Indonesia
- GVK Power & Infra Limited - India
- Indian Energy Exchange, India
- Merrill Lynch Commodities Europe
- Petrochimia International Co. Ltd.- Taiwan
- Kapuas Tunggal Persada - Indonesia
- Mjunction Services Limited - India
- Eastern Energy - Thailand
- Bulk Trading Sa - Switzerland
- ICICI Bank Limited - India
- Vizag Seaport Private Limited - India
- Dalmia Cement Bharat India
- IEA Clean Coal Centre - UK
- IHS Mccloskey Coal Group - USA
- LBH Netherlands Bv - Netherlands
- Metalloyd Limited - United Kingdom
- Posco Energy - South Korea
- Jaiprakash Power Ventures ltd
- Asmin Koalindo Tuhup - Indonesia
- Formosa Plastics Group - Taiwan
- Bhushan Steel Limited - India
- The Treasury - Australian Government
- Xindia Steels Limited - India
- Heidelberg Cement - Germany
- Bayan Resources Tbk. - Indonesia
- Thiess Contractors Indonesia
- Therma Luzon, Inc, Philippines
- TeaM Sual Corporation - Philippines
- Directorate General of MIneral and Coal - Indonesia
- Star Paper Mills Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ministry of Finance - Indonesia
- European Bulk Services B.V. - Netherlands
- Ceylon Electricity Board - Sri Lanka
- Meralco Power Generation, Philippines
- New Zealand Coal & Carbon
- Semirara Mining and Power Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Wilmar Investment Holdings
- Ministry of Mines - Canada
- Gujarat Sidhee Cement - India
- Straits Asia Resources Limited - Singapore
- Meenaskhi Energy Private Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Sarangani Energy Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Chettinad Cement Corporation Ltd - India
- Petron Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Sinarmas Energy and Mining - Indonesia
- San Jose City I Power Corp, Philippines
- Indo Tambangraya Megah - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Tata Chemicals Ltd - India
- India Bulls Power Limited - India
- Mercator Lines Limited - India
- Minerals Council of Australia
- Georgia Ports Authority, United States
- Larsen & Toubro Limited - India
- Economic Council, Georgia
- Bukit Baiduri Energy - Indonesia
- Eastern Coal Council - USA
- Savvy Resources Ltd - HongKong
- Bukit Makmur.PT - Indonesia
- Uttam Galva Steels Limited - India
- Indika Energy - Indonesia
- Commonwealth Bank - Australia
- Aboitiz Power Corporation - Philippines
- Bharathi Cement Corporation - India
- Semirara Mining Corp, Philippines
- McConnell Dowell - Australia
- PetroVietnam Power Coal Import and Supply Company
- Simpson Spence & Young - Indonesia
- Sical Logistics Limited - India
- Makarim & Taira - Indonesia
- Sree Jayajothi Cements Limited - India
- Kartika Selabumi Mining - Indonesia
- Global Business Power Corporation, Philippines
- Sakthi Sugars Limited - India
- Parliament of New Zealand
- Kideco Jaya Agung - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Krishnapatnam Port Company Ltd. - India
- Power Finance Corporation Ltd., India
- Attock Cement Pakistan Limited
- Orica Mining Services - Indonesia
- Binh Thuan Hamico - Vietnam
- International Coal Ventures Pvt Ltd - India
- Anglo American - United Kingdom
- Aditya Birla Group - India
- White Energy Company Limited
- Energy Link Ltd, New Zealand
- Banpu Public Company Limited - Thailand
- Globalindo Alam Lestari - Indonesia
- Indian Oil Corporation Limited
- Maheswari Brothers Coal Limited - India
- Electricity Generating Authority of Thailand
- ASAPP Information Group - India
- Kumho Petrochemical, South Korea
- Coal and Oil Company - UAE
- Kepco SPC Power Corporation, Philippines
- Cement Manufacturers Association - India
- Vijayanagar Sugar Pvt Ltd - India
- MS Steel International - UAE
- Salva Resources Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Rio Tinto Coal - Australia
- GMR Energy Limited - India
- Ind-Barath Power Infra Limited - India
- The University of Queensland
- Siam City Cement - Thailand
- Essar Steel Hazira Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Global Green Power PLC Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- Wood Mackenzie - Singapore
- Latin American Coal - Colombia
- Mercuria Energy - Indonesia
- Antam Resourcindo - Indonesia
- Grasim Industreis Ltd - India
- Bhatia International Limited - India
- Central Electricity Authority - India
- Siam City Cement PLC, Thailand
- Sindya Power Generating Company Private Ltd
- Pendopo Energi Batubara - Indonesia
- Price Waterhouse Coopers - Russia
- Kalimantan Lumbung Energi - Indonesia
- Standard Chartered Bank - UAE
- Edison Trading Spa - Italy
- Baramulti Group, Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Australian Commodity Traders Exchange
- Bank of Tokyo Mitsubishi UFJ Ltd
- Malabar Cements Ltd - India
- Carbofer General Trading SA - India
- Karaikal Port Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Borneo Indobara - Indonesia
- Ministry of Transport, Egypt
- VISA Power Limited - India
- Planning Commission, India
- Gujarat Electricity Regulatory Commission - India
- Holcim Trading Pte Ltd - Singapore
- Madhucon Powers Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Coalindo Energy - Indonesia
- Port Waratah Coal Services - Australia
- Iligan Light & Power Inc, Philippines
- Orica Australia Pty. Ltd.
- Bangladesh Power Developement Board
- Cigading International Bulk Terminal - Indonesia
- Samtan Co., Ltd - South Korea
- London Commodity Brokers - England
- Asia Pacific Energy Resources Ventures Inc, Philippines
- The State Trading Corporation of India Ltd
- Agrawal Coal Company - India
- Vedanta Resources Plc - India
- Oldendorff Carriers - Singapore
- Videocon Industries ltd - India
- PowerSource Philippines DevCo
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Renaissance Capital - South Africa
- Timah Investasi Mineral - Indoneisa
- SMG Consultants - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Ambuja Cements Ltd - India
- Mintek Dendrill Indonesia
- Indonesian Coal Mining Association
- Romanian Commodities Exchange
- Parry Sugars Refinery, India
- Interocean Group of Companies - India
- Lanco Infratech Ltd - India
- Intertek Mineral Services - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Kobexindo Tractors - Indoneisa
- Independent Power Producers Association of India
- Directorate Of Revenue Intelligence - India
|
| |
| |
|
