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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 $152 million selling shares in an August IPO.
Source: Bloomberg ( By Jesse Riseborough and Yoga Rusmana )
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Tuesday, 05 February 13
NEWCASTLE PORT COAL SHIPMENTS DROPPED BY 10.77 PERCENT W-O-W
COALspot.com - Newcastle port in Australia has loaded 2,412,497 MT of thermal and coking coal for week ended 0700 hours 4 February 2013, Newca ...
Tuesday, 05 February 13
CHALLENGER DEEP RESOURCES CORP HAS ENTERED INTO AN EXCLUSIVE MINING AND MARKETING AGREEMENT WITH KEM
COALspot.com - Challenger Deep Resources Corp., through its wholly owned subsidiary, PT Bestindo Energy, has entered into an Exclusivity Agreement r ...
Saturday, 02 February 13
ADARO TO INTRODUCE A NEW BRAND OF ENVIROCOAL, E4700, IN 2013
COALspot.com - Adaro Energy, an Indonesian and leading coal producer in country has achieved a record coal production during 4Q12 of 13.31 mil ...
Saturday, 02 February 13
FREIGHT MARKET MAY REBOUND AFTER CHINESE NEW YEAR - VISTAAR
COALspot.com - The freight market was soft and all the indices were down by around 5-7 pct this week.
The BDI was down 6.01 pct closing at 750 po ...
Friday, 01 February 13
ORPHEUS SELLS B26 COAL PROJECTS FOR US$ 2 MILLION TO FOCUS ON SOUTH KALIMANTAN
COALspot.com - Orpheus Energy Limited (ASX: OEG) has announced that it has sold its 51 percent equity stake in the East Kalimantan coal projects, Bl ...
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- Eastern Coal Council - USA
- SMC Global Power, Philippines
- Lanco Infratech Ltd - India
- Posco Energy - South Korea
- Indonesian Coal Mining Association
- Ceylon Electricity Board - Sri Lanka
- Leighton Contractors Pty Ltd - Australia
- Samtan Co., Ltd - South Korea
- Thai Mozambique Logistica
- Central Electricity Authority - India
- Antam Resourcindo - Indonesia
- London Commodity Brokers - England
- Asmin Koalindo Tuhup - Indonesia
- Bangladesh Power Developement Board
- Billiton Holdings Pty Ltd - Australia
- Georgia Ports Authority, United States
- Directorate General of MIneral and Coal - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- Ministry of Mines - Canada
- Orica Mining Services - Indonesia
- India Bulls Power Limited - India
- Kumho Petrochemical, South Korea
- Toyota Tsusho Corporation, Japan
- Sakthi Sugars Limited - India
- Indian Oil Corporation Limited
- Kobexindo Tractors - Indoneisa
- Economic Council, Georgia
- Bahari Cakrawala Sebuku - Indonesia
- Pendopo Energi Batubara - Indonesia
- Larsen & Toubro Limited - India
- Mintek Dendrill Indonesia
- Coal and Oil Company - UAE
- Tamil Nadu electricity Board
- Globalindo Alam Lestari - Indonesia
- Indian Energy Exchange, India
- Pipit Mutiara Jaya. PT, Indonesia
- Madhucon Powers Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Indogreen Group - Indonesia
- Independent Power Producers Association of India
- Jindal Steel & Power Ltd - India
- GAC Shipping (India) Pvt Ltd
- Ambuja Cements Ltd - India
- Australian Coal Association
- VISA Power Limited - India
- PTC India Limited - India
- TeaM Sual Corporation - Philippines
- Bukit Baiduri Energy - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Formosa Plastics Group - Taiwan
- Aboitiz Power Corporation - Philippines
- CIMB Investment Bank - Malaysia
- European Bulk Services B.V. - Netherlands
- Central Java Power - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Port Waratah Coal Services - Australia
- Kideco Jaya Agung - Indonesia
- Sojitz Corporation - Japan
- Directorate Of Revenue Intelligence - India
- Global Green Power PLC Corporation, Philippines
- Mercuria Energy - Indonesia
- SMG Consultants - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Bayan Resources Tbk. - Indonesia
- Uttam Galva Steels Limited - India
- Indika Energy - Indonesia
- Timah Investasi Mineral - Indoneisa
- Savvy Resources Ltd - HongKong
- Ministry of Finance - Indonesia
- Attock Cement Pakistan Limited
- Straits Asia Resources Limited - Singapore
- Electricity Generating Authority of Thailand
- Orica Australia Pty. Ltd.
- Thiess Contractors Indonesia
- Global Business Power Corporation, Philippines
- Wood Mackenzie - Singapore
- Energy Development Corp, Philippines
- Malabar Cements Ltd - India
- GMR Energy Limited - India
- Simpson Spence & Young - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Planning Commission, India
- McConnell Dowell - Australia
- Interocean Group of Companies - India
- PetroVietnam Power Coal Import and Supply Company
- IEA Clean Coal Centre - UK
- Australian Commodity Traders Exchange
- SN Aboitiz Power Inc, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Banpu Public Company Limited - Thailand
- Bulk Trading Sa - Switzerland
- Kaltim Prima Coal - Indonesia
- Videocon Industries ltd - India
- Ind-Barath Power Infra Limited - India
- San Jose City I Power Corp, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Gujarat Mineral Development Corp Ltd - India
- White Energy Company Limited
- Sindya Power Generating Company Private Ltd
- Essar Steel Hazira Ltd - India
- Parry Sugars Refinery, India
- Standard Chartered Bank - UAE
- Indo Tambangraya Megah - Indonesia
- Bukit Makmur.PT - Indonesia
- Metalloyd Limited - United Kingdom
- Bharathi Cement Corporation - India
- Energy Link Ltd, New Zealand
- Sree Jayajothi Cements Limited - India
- Salva Resources Pvt Ltd - India
- ICICI Bank Limited - India
- Carbofer General Trading SA - India
- Merrill Lynch Commodities Europe
- Meralco Power Generation, Philippines
- Global Coal Blending Company Limited - Australia
- Jorong Barutama Greston.PT - Indonesia
- Xindia Steels Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Sical Logistics Limited - India
- Coalindo Energy - Indonesia
- Iligan Light & Power Inc, Philippines
- Bhoruka Overseas - Indonesia
- Meenaskhi Energy Private Limited - India
- Star Paper Mills Limited - India
- Alfred C Toepfer International GmbH - Germany
- Latin American Coal - Colombia
- Karaikal Port Pvt Ltd - India
- Edison Trading Spa - Italy
- Baramulti Group, Indonesia
- Sarangani Energy Corporation, Philippines
- Cement Manufacturers Association - India
- Kartika Selabumi Mining - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- PowerSource Philippines DevCo
- Bhatia International Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Riau Bara Harum - Indonesia
- Manunggal Multi Energi - Indonesia
- Kepco SPC Power Corporation, Philippines
- Mercator Lines Limited - India
- Siam City Cement PLC, Thailand
- Ministry of Transport, Egypt
- Marubeni Corporation - India
- Therma Luzon, Inc, Philippines
- Chamber of Mines of South Africa
- Borneo Indobara - Indonesia
- Vedanta Resources Plc - India
- Coastal Gujarat Power Limited - India
- Miang Besar Coal Terminal - Indonesia
- Binh Thuan Hamico - Vietnam
- Maheswari Brothers Coal Limited - India
- MS Steel International - UAE
- LBH Netherlands Bv - Netherlands
- Rio Tinto Coal - Australia
- Vizag Seaport Private Limited - India
- IHS Mccloskey Coal Group - USA
- New Zealand Coal & Carbon
- Barasentosa Lestari - Indonesia
- Wilmar Investment Holdings
- Deloitte Consulting - India
- CNBM International Corporation - China
- ASAPP Information Group - India
- OPG Power Generation Pvt Ltd - India
- Commonwealth Bank - Australia
- Minerals Council of Australia
- PNOC Exploration Corporation - Philippines
- Siam City Cement - Thailand
- Heidelberg Cement - Germany
- Grasim Industreis Ltd - India
- Renaissance Capital - South Africa
- Agrawal Coal Company - India
- Oldendorff Carriers - Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Goldman Sachs - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- The State Trading Corporation of India Ltd
- Rashtriya Ispat Nigam Limited - India
- Romanian Commodities Exchange
- Krishnapatnam Port Company Ltd. - India
- Jaiprakash Power Ventures ltd
- Anglo American - United Kingdom
- Power Finance Corporation Ltd., India
- Kohat Cement Company Ltd. - Pakistan
- South Luzon Thermal Energy Corporation
- Petron Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Makarim & Taira - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Electricity Authority, New Zealand
- Aditya Birla Group - India
- Africa Commodities Group - South Africa
- Cigading International Bulk Terminal - Indonesia
- Bhushan Steel Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Petrochimia International Co. Ltd.- Taiwan
- Vijayanagar Sugar Pvt Ltd - India
- Mjunction Services Limited - India
- Eastern Energy - Thailand
- International Coal Ventures Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Tata Chemicals Ltd - India
- GVK Power & Infra Limited - India
- Medco Energi Mining Internasional
- The Treasury - Australian Government
- Trasteel International SA, Italy
- Singapore Mercantile Exchange
- Dalmia Cement Bharat India
- Parliament of New Zealand
- Gujarat Electricity Regulatory Commission - India
- Intertek Mineral Services - Indonesia
- Altura Mining Limited, Indonesia
- Gujarat Sidhee Cement - India
- The University of Queensland
- Price Waterhouse Coopers - Russia
- Kalimantan Lumbung Energi - Indonesia
- Semirara Mining Corp, Philippines
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