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.
|
|
Sunday, 28 April 13
PANAMAX FREIGHT COULD BE SOFT NEXT WEEK - CAPT. REDDY
COALspot.com - This BDI closed slightly lower at 871 points (down by 1.91 pct) mainly due to drop in the Panamax index by almost 10 pct.
Th ...
Saturday, 27 April 13
HANDY : SLIDING ; PANAMAX : POSITIVE ; CAPESIZE : STILL ON ITS KNEES - FEARNRESEARCH
Handy
The Atlantic markets started sliding with no fresh cargoes seen in the market. The USG-Feast was at USD 18k and Black sea-Feast was at USD 11 ...
Saturday, 27 April 13
2ND CHINA INTERNATIONAL SHALE GAS SUMMIT
Press Release - 2nd China International Shale Gas Summit, 10-13 September 2013 | Chengdu, China
*The largest annual event for the shale gas indus ...
Friday, 26 April 13
LIMA SUMMIT IN JULY TO HIGHLIGHT LATIN AMERICAN MINING POTENTIAL
COALspot.com - Latin American mining industry officials and their private sector counterparts will be gathering in Lima, Peru on July 1-2 for the La ...
Wednesday, 24 April 13
FUTURE US POWER MARKET SHARES OF COAL, NATURAL GAS GENERATORS DEPEND ON RELATIVE FUEL PRICES - EIA
COALspot.com - In recent years, in US, natural gas competed more effectively with coal as a fuel for electricity generation as the cost of operating ...
|
|
|
Showing 4301 to 4305 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Ministry of Mines - Canada
- Power Finance Corporation Ltd., India
- Gujarat Electricity Regulatory Commission - India
- Intertek Mineral Services - Indonesia
- McConnell Dowell - Australia
- Chamber of Mines of South Africa
- PetroVietnam Power Coal Import and Supply Company
- Kumho Petrochemical, South Korea
- Globalindo Alam Lestari - Indonesia
- Heidelberg Cement - Germany
- GMR Energy Limited - India
- Anglo American - United Kingdom
- SMC Global Power, Philippines
- Eastern Coal Council - USA
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Asmin Koalindo Tuhup - Indonesia
- Georgia Ports Authority, United States
- Bukit Makmur.PT - Indonesia
- LBH Netherlands Bv - Netherlands
- MS Steel International - UAE
- Aditya Birla Group - India
- Electricity Authority, New Zealand
- Wilmar Investment Holdings
- Chettinad Cement Corporation Ltd - India
- Kobexindo Tractors - Indoneisa
- Straits Asia Resources Limited - Singapore
- Tata Chemicals Ltd - India
- Bhushan Steel Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- European Bulk Services B.V. - Netherlands
- Iligan Light & Power Inc, Philippines
- Bukit Baiduri Energy - Indonesia
- Mercuria Energy - Indonesia
- Krishnapatnam Port Company Ltd. - India
- CIMB Investment Bank - Malaysia
- Australian Commodity Traders Exchange
- CNBM International Corporation - China
- Maharashtra Electricity Regulatory Commission - India
- Billiton Holdings Pty Ltd - Australia
- Port Waratah Coal Services - Australia
- Vizag Seaport Private Limited - India
- SMG Consultants - Indonesia
- Oldendorff Carriers - Singapore
- Grasim Industreis Ltd - India
- Gujarat Sidhee Cement - India
- Thiess Contractors Indonesia
- Trasteel International SA, Italy
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Madhucon Powers Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Sindya Power Generating Company Private Ltd
- Indian Energy Exchange, India
- Bangladesh Power Developement Board
- Marubeni Corporation - India
- Renaissance Capital - South Africa
- Planning Commission, India
- Central Java Power - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Mjunction Services Limited - India
- Baramulti Group, Indonesia
- Standard Chartered Bank - UAE
- PTC India Limited - India
- Siam City Cement PLC, Thailand
- Siam City Cement - Thailand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indo Tambangraya Megah - Indonesia
- Timah Investasi Mineral - Indoneisa
- PNOC Exploration Corporation - Philippines
- Sinarmas Energy and Mining - Indonesia
- Altura Mining Limited, Indonesia
- Indian Oil Corporation Limited
- Simpson Spence & Young - Indonesia
- Global Business Power Corporation, Philippines
- Ministry of Finance - Indonesia
- Wood Mackenzie - Singapore
- Bhoruka Overseas - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Minerals Council of Australia
- Sree Jayajothi Cements Limited - India
- Global Coal Blending Company Limited - Australia
- GVK Power & Infra Limited - India
- Commonwealth Bank - Australia
- Indika Energy - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Energy Development Corp, Philippines
- Mercator Lines Limited - India
- Eastern Energy - Thailand
- Singapore Mercantile Exchange
- Africa Commodities Group - South Africa
- Ind-Barath Power Infra Limited - India
- VISA Power Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Dalmia Cement Bharat India
- London Commodity Brokers - England
- OPG Power Generation Pvt Ltd - India
- Interocean Group of Companies - India
- Petron Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Riau Bara Harum - Indonesia
- Goldman Sachs - Singapore
- Coal and Oil Company - UAE
- Antam Resourcindo - Indonesia
- Maheswari Brothers Coal Limited - India
- Meralco Power Generation, Philippines
- San Jose City I Power Corp, Philippines
- Bhatia International Limited - India
- Alfred C Toepfer International GmbH - Germany
- Petrochimia International Co. Ltd.- Taiwan
- Gujarat Mineral Development Corp Ltd - India
- Essar Steel Hazira Ltd - India
- Cement Manufacturers Association - India
- Latin American Coal - Colombia
- Deloitte Consulting - India
- Jorong Barutama Greston.PT - Indonesia
- Australian Coal Association
- AsiaOL BioFuels Corp., Philippines
- Tamil Nadu electricity Board
- Economic Council, Georgia
- Aboitiz Power Corporation - Philippines
- Romanian Commodities Exchange
- Kepco SPC Power Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- Manunggal Multi Energi - Indonesia
- Binh Thuan Hamico - Vietnam
- Star Paper Mills Limited - India
- New Zealand Coal & Carbon
- Ceylon Electricity Board - Sri Lanka
- Indogreen Group - Indonesia
- Merrill Lynch Commodities Europe
- Karbindo Abesyapradhi - Indoneisa
- The University of Queensland
- Therma Luzon, Inc, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Toyota Tsusho Corporation, Japan
- Pipit Mutiara Jaya. PT, Indonesia
- Samtan Co., Ltd - South Korea
- Videocon Industries ltd - India
- Indonesian Coal Mining Association
- Xindia Steels Limited - India
- Attock Cement Pakistan Limited
- Independent Power Producers Association of India
- Jindal Steel & Power Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Energy Link Ltd, New Zealand
- The Treasury - Australian Government
- Coastal Gujarat Power Limited - India
- Parliament of New Zealand
- Directorate Of Revenue Intelligence - India
- Metalloyd Limited - United Kingdom
- Barasentosa Lestari - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Lanco Infratech Ltd - India
- Rio Tinto Coal - Australia
- Kaltim Prima Coal - Indonesia
- Uttam Galva Steels Limited - India
- IHS Mccloskey Coal Group - USA
- Holcim Trading Pte Ltd - Singapore
- Savvy Resources Ltd - HongKong
- Semirara Mining Corp, Philippines
- White Energy Company Limited
- GAC Shipping (India) Pvt Ltd
- Central Electricity Authority - India
- Kapuas Tunggal Persada - Indonesia
- IEA Clean Coal Centre - UK
- Salva Resources Pvt Ltd - India
- Karaikal Port Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- International Coal Ventures Pvt Ltd - India
- Agrawal Coal Company - India
- Bharathi Cement Corporation - India
- ICICI Bank Limited - India
- Ambuja Cements Ltd - India
- Kideco Jaya Agung - Indonesia
- TeaM Sual Corporation - Philippines
- Orica Australia Pty. Ltd.
- Parry Sugars Refinery, India
- Larsen & Toubro Limited - India
- Electricity Generating Authority of Thailand
- Formosa Plastics Group - Taiwan
- Ministry of Transport, Egypt
- Coalindo Energy - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Sical Logistics Limited - India
- Banpu Public Company Limited - Thailand
- Bahari Cakrawala Sebuku - Indonesia
- Global Green Power PLC Corporation, Philippines
- Bulk Trading Sa - Switzerland
- Edison Trading Spa - Italy
- Posco Energy - South Korea
- Thai Mozambique Logistica
- ASAPP Information Group - India
- Makarim & Taira - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Bayan Resources Tbk. - Indonesia
- Sarangani Energy Corporation, Philippines
- Mintek Dendrill Indonesia
- PowerSource Philippines DevCo
- South Luzon Thermal Energy Corporation
- Orica Mining Services - Indonesia
- SN Aboitiz Power Inc, Philippines
- The State Trading Corporation of India Ltd
- Borneo Indobara - Indonesia
- India Bulls Power Limited - India
- Pendopo Energi Batubara - Indonesia
- Jaiprakash Power Ventures ltd
- Kalimantan Lumbung Energi - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Medco Energi Mining Internasional
- Carbofer General Trading SA - India
- Malabar Cements Ltd - India
- Vedanta Resources Plc - India
- Price Waterhouse Coopers - Russia
- Sakthi Sugars Limited - India
- Sojitz Corporation - Japan
- TNB Fuel Sdn Bhd - Malaysia
|
| |
| |
|
