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.
|
|
Thursday, 21 February 13
SPRING COAL PROCUREMENT 2013 IS ABOUT TO TAKE PLACE
In 2012, “Steady Growth” had set the keynote for China’s economic development. Guided by the principle of progressing steadily, do ...
Wednesday, 20 February 13
BAKRIE GROUP LOOKS TO HAVE A CLEAR UPPER HAND - LUCKY ARIESANDI, CFA
The Bakrie-Rothschild saga is entering its final stage, with Bumi Plc (BUMI LN)’s holders to convene on 21 Feb at 11am GMT to vote on Nat Roth ...
Tuesday, 19 February 13
NEWCASTLE PORT SHIPPED 38.65 PERCENT LESS COAL W-O-W
COALspot.com - Newcastle port in Australia has loaded 1,820,559 MT of thermal and coking coal for week ended 0700 hours 18 February 2013, Newc ...
Monday, 18 February 13
78.75 MILLION TONS OF COAL RESERVES ARE NEWLY PROVEN IN WUGANG HUNAN PROVINCE
COALspot.com - Recently, Wugang City, known as the CHINA hundred key coal producing cities, achieved new breakthroughs in coal exploration: deep coa ...
Sunday, 17 February 13
STEEL DEMAND WILL HELP TO PUSH UP FREIGHT RATES - VISTAAR
COALspot.com - This freight market has been fairly steady week ended 15 February 2013.
The BDI was slightly up by 0.67 pct closing at 753 points ...
|
|
|
Showing 4376 to 4380 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Xindia Steels Limited - India
- Interocean Group of Companies - India
- AsiaOL BioFuels Corp., Philippines
- Aboitiz Power Corporation - Philippines
- Karaikal Port Pvt Ltd - India
- Edison Trading Spa - Italy
- Kideco Jaya Agung - Indonesia
- OPG Power Generation Pvt Ltd - India
- Romanian Commodities Exchange
- Sree Jayajothi Cements Limited - India
- Gujarat Sidhee Cement - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Leighton Contractors Pty Ltd - Australia
- Indonesian Coal Mining Association
- Gujarat Mineral Development Corp Ltd - India
- SMC Global Power, Philippines
- Alfred C Toepfer International GmbH - Germany
- Attock Cement Pakistan Limited
- Central Electricity Authority - India
- Electricity Generating Authority of Thailand
- Agrawal Coal Company - India
- Ind-Barath Power Infra Limited - India
- India Bulls Power Limited - India
- Ceylon Electricity Board - Sri Lanka
- Oldendorff Carriers - Singapore
- Central Java Power - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Merrill Lynch Commodities Europe
- IHS Mccloskey Coal Group - USA
- Kumho Petrochemical, South Korea
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indian Energy Exchange, India
- Bulk Trading Sa - Switzerland
- Makarim & Taira - Indonesia
- GVK Power & Infra Limited - India
- VISA Power Limited - India
- Sojitz Corporation - Japan
- Siam City Cement PLC, Thailand
- CNBM International Corporation - China
- Posco Energy - South Korea
- Asmin Koalindo Tuhup - Indonesia
- Coalindo Energy - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Aditya Birla Group - India
- San Jose City I Power Corp, Philippines
- Commonwealth Bank - Australia
- Siam City Cement - Thailand
- Ambuja Cements Ltd - India
- Energy Link Ltd, New Zealand
- Intertek Mineral Services - Indonesia
- Heidelberg Cement - Germany
- Malabar Cements Ltd - India
- SN Aboitiz Power Inc, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Iligan Light & Power Inc, Philippines
- Baramulti Group, Indonesia
- Directorate General of MIneral and Coal - Indonesia
- London Commodity Brokers - England
- Billiton Holdings Pty Ltd - Australia
- Salva Resources Pvt Ltd - India
- Petron Corporation, Philippines
- PTC India Limited - India
- Parliament of New Zealand
- Goldman Sachs - Singapore
- The Treasury - Australian Government
- Meenaskhi Energy Private Limited - India
- Directorate Of Revenue Intelligence - India
- Renaissance Capital - South Africa
- Star Paper Mills Limited - India
- Economic Council, Georgia
- Planning Commission, India
- Vijayanagar Sugar Pvt Ltd - India
- Eastern Energy - Thailand
- Mercuria Energy - Indonesia
- Tata Chemicals Ltd - India
- Indika Energy - Indonesia
- Binh Thuan Hamico - Vietnam
- Riau Bara Harum - Indonesia
- Jindal Steel & Power Ltd - India
- Bangladesh Power Developement Board
- Global Green Power PLC Corporation, Philippines
- Thai Mozambique Logistica
- Larsen & Toubro Limited - India
- Bukit Makmur.PT - Indonesia
- Grasim Industreis Ltd - India
- Price Waterhouse Coopers - Russia
- Coastal Gujarat Power Limited - India
- Carbofer General Trading SA - India
- Antam Resourcindo - Indonesia
- Metalloyd Limited - United Kingdom
- Chamber of Mines of South Africa
- TeaM Sual Corporation - Philippines
- Bukit Baiduri Energy - Indonesia
- Singapore Mercantile Exchange
- Miang Besar Coal Terminal - Indonesia
- Lanco Infratech Ltd - India
- Semirara Mining and Power Corporation, Philippines
- McConnell Dowell - Australia
- Formosa Plastics Group - Taiwan
- Parry Sugars Refinery, India
- Kohat Cement Company Ltd. - Pakistan
- ICICI Bank Limited - India
- Banpu Public Company Limited - Thailand
- Global Business Power Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- Vizag Seaport Private Limited - India
- Pendopo Energi Batubara - Indonesia
- Toyota Tsusho Corporation, Japan
- Tamil Nadu electricity Board
- Jorong Barutama Greston.PT - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Indian Oil Corporation Limited
- Karbindo Abesyapradhi - Indoneisa
- Cement Manufacturers Association - India
- Uttam Galva Steels Limited - India
- Straits Asia Resources Limited - Singapore
- Orica Mining Services - Indonesia
- IEA Clean Coal Centre - UK
- Latin American Coal - Colombia
- Holcim Trading Pte Ltd - Singapore
- Dalmia Cement Bharat India
- Kepco SPC Power Corporation, Philippines
- Wilmar Investment Holdings
- PetroVietnam Power Coal Import and Supply Company
- PowerSource Philippines DevCo
- Sakthi Sugars Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Therma Luzon, Inc, Philippines
- Samtan Co., Ltd - South Korea
- LBH Netherlands Bv - Netherlands
- Altura Mining Limited, Indonesia
- Australian Coal Association
- Cigading International Bulk Terminal - Indonesia
- Madhucon Powers Ltd - India
- SMG Consultants - Indonesia
- Sical Logistics Limited - India
- Independent Power Producers Association of India
- Jaiprakash Power Ventures ltd
- Bukit Asam (Persero) Tbk - Indonesia
- Ministry of Finance - Indonesia
- Deloitte Consulting - India
- Kartika Selabumi Mining - Indonesia
- Manunggal Multi Energi - Indonesia
- International Coal Ventures Pvt Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- White Energy Company Limited
- Simpson Spence & Young - Indonesia
- Mintek Dendrill Indonesia
- Australian Commodity Traders Exchange
- Africa Commodities Group - South Africa
- Bayan Resources Tbk. - Indonesia
- GMR Energy Limited - India
- Global Coal Blending Company Limited - Australia
- Sinarmas Energy and Mining - Indonesia
- European Bulk Services B.V. - Netherlands
- Semirara Mining Corp, Philippines
- Videocon Industries ltd - India
- Kaltim Prima Coal - Indonesia
- Standard Chartered Bank - UAE
- Georgia Ports Authority, United States
- Medco Energi Mining Internasional
- Minerals Council of Australia
- Ministry of Transport, Egypt
- ASAPP Information Group - India
- Sarangani Energy Corporation, Philippines
- Anglo American - United Kingdom
- Gujarat Electricity Regulatory Commission - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ministry of Mines - Canada
- Chettinad Cement Corporation Ltd - India
- Orica Australia Pty. Ltd.
- Maheswari Brothers Coal Limited - India
- Krishnapatnam Port Company Ltd. - India
- The State Trading Corporation of India Ltd
- Barasentosa Lestari - Indonesia
- Trasteel International SA, Italy
- Pipit Mutiara Jaya. PT, Indonesia
- Coal and Oil Company - UAE
- Indogreen Group - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Meralco Power Generation, Philippines
- CIMB Investment Bank - Malaysia
- Wood Mackenzie - Singapore
- Vedanta Resources Plc - India
- Thiess Contractors Indonesia
- Globalindo Alam Lestari - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Rio Tinto Coal - Australia
- New Zealand Coal & Carbon
- South Luzon Thermal Energy Corporation
- Borneo Indobara - Indonesia
- Electricity Authority, New Zealand
- Timah Investasi Mineral - Indoneisa
- Power Finance Corporation Ltd., India
- Sindya Power Generating Company Private Ltd
- Kobexindo Tractors - Indoneisa
- Port Waratah Coal Services - Australia
- Bharathi Cement Corporation - India
- Savvy Resources Ltd - HongKong
- TNB Fuel Sdn Bhd - Malaysia
- Mercator Lines Limited - India
- Bhatia International Limited - India
- Energy Development Corp, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Essar Steel Hazira Ltd - India
- Bhoruka Overseas - Indonesia
- Eastern Coal Council - USA
- Marubeni Corporation - India
- MS Steel International - UAE
- Bhushan Steel Limited - India
- The University of Queensland
- Mjunction Services Limited - India
- Indo Tambangraya Megah - Indonesia
- Kalimantan Lumbung Energi - Indonesia
|
| |
| |
|
