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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, 15 January 13
GRANT SMITH APPOINTED GROUP MANAGING DIRECTOR OF BRAEMAR ADJUSTING
The Board of Braemar Adjusting is delighted to announce the appointment of Grant Smith as Group Managing Director of the company with immediate effe ...
Tuesday, 15 January 13
2ND MYANMAR MINING SUMMIT & OFFICIAL HOST MINISTRY OF MINES TO WELCOME OVER 200 DELEGATES NEXT WEEK
Press Release: The Ministry of Mines is hosting the 2nd Myanmar Mining Summit in Yangon on 21-24 January to unravel the local mining climate, prospe ...
Monday, 14 January 13
NEWCASTLE PORT SHIPPED 2.32 PERCENT LESS COAL W/E 14 JANUARY 2013
COALspot.com - Newcastle port in Australia has loaded 3,123,312 MT of thermal and coking coal for week ended 0700 hours 14 January 2013, Newca ...
Monday, 14 January 13
THE COAL MONGOLIA - 2013 OFFICIALLY IN COOPERATION WITH TOP MINING COMPANIES
Press Release: Mongolian first mining portal site Mining.mn has already started its preparation of the International Conference “COAL MONGOLIA ...
Monday, 14 January 13
NTPC INVITES BIDS FOR 500K MT OF IMPORTED COAL
COALspot.com - NTPC Limited (formerly National Thermal Power Corporation) is the largest Indian state-owned electric utilities company called for a ...
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- Australian Coal Association
- Kobexindo Tractors - Indoneisa
- ASAPP Information Group - India
- Australian Commodity Traders Exchange
- Mjunction Services Limited - India
- Globalindo Alam Lestari - Indonesia
- Cement Manufacturers Association - India
- Sree Jayajothi Cements Limited - India
- Posco Energy - South Korea
- CIMB Investment Bank - Malaysia
- Jindal Steel & Power Ltd - India
- Bukit Baiduri Energy - Indonesia
- Medco Energi Mining Internasional
- Meralco Power Generation, Philippines
- Borneo Indobara - Indonesia
- Wilmar Investment Holdings
- South Luzon Thermal Energy Corporation
- Coalindo Energy - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- India Bulls Power Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Aboitiz Power Corporation - Philippines
- Petrochimia International Co. Ltd.- Taiwan
- VISA Power Limited - India
- Thai Mozambique Logistica
- Neyveli Lignite Corporation Ltd, - India
- Thiess Contractors Indonesia
- OPG Power Generation Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bahari Cakrawala Sebuku - Indonesia
- Singapore Mercantile Exchange
- Asmin Koalindo Tuhup - Indonesia
- McConnell Dowell - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Essar Steel Hazira Ltd - India
- Baramulti Group, Indonesia
- Bukit Makmur.PT - Indonesia
- Commonwealth Bank - Australia
- Independent Power Producers Association of India
- IHS Mccloskey Coal Group - USA
- Trasteel International SA, Italy
- Siam City Cement PLC, Thailand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Georgia Ports Authority, United States
- Lanco Infratech Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Videocon Industries ltd - India
- Savvy Resources Ltd - HongKong
- Madhucon Powers Ltd - India
- Marubeni Corporation - India
- Central Java Power - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Price Waterhouse Coopers - Russia
- MS Steel International - UAE
- Latin American Coal - Colombia
- Jorong Barutama Greston.PT - Indonesia
- Africa Commodities Group - South Africa
- Power Finance Corporation Ltd., India
- Attock Cement Pakistan Limited
- AsiaOL BioFuels Corp., Philippines
- The State Trading Corporation of India Ltd
- Sojitz Corporation - Japan
- Agrawal Coal Company - India
- Binh Thuan Hamico - Vietnam
- Ministry of Mines - Canada
- Formosa Plastics Group - Taiwan
- Barasentosa Lestari - Indonesia
- Electricity Generating Authority of Thailand
- CNBM International Corporation - China
- PNOC Exploration Corporation - Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Mercator Lines Limited - India
- Ind-Barath Power Infra Limited - India
- Alfred C Toepfer International GmbH - Germany
- Ministry of Transport, Egypt
- Bayan Resources Tbk. - Indonesia
- Karaikal Port Pvt Ltd - India
- Coal and Oil Company - UAE
- Vedanta Resources Plc - India
- Metalloyd Limited - United Kingdom
- Ministry of Finance - Indonesia
- Simpson Spence & Young - Indonesia
- New Zealand Coal & Carbon
- Aditya Birla Group - India
- Heidelberg Cement - Germany
- Malabar Cements Ltd - India
- PowerSource Philippines DevCo
- San Jose City I Power Corp, Philippines
- Star Paper Mills Limited - India
- Coastal Gujarat Power Limited - India
- Gujarat Sidhee Cement - India
- Kepco SPC Power Corporation, Philippines
- Mintek Dendrill Indonesia
- Rio Tinto Coal - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Siam City Cement - Thailand
- PTC India Limited - India
- Standard Chartered Bank - UAE
- Global Green Power PLC Corporation, Philippines
- Energy Development Corp, Philippines
- Toyota Tsusho Corporation, Japan
- Carbofer General Trading SA - India
- Directorate Of Revenue Intelligence - India
- Chettinad Cement Corporation Ltd - India
- The Treasury - Australian Government
- European Bulk Services B.V. - Netherlands
- Holcim Trading Pte Ltd - Singapore
- Petron Corporation, Philippines
- Bangladesh Power Developement Board
- Uttam Galva Steels Limited - India
- ICICI Bank Limited - India
- GMR Energy Limited - India
- Meenaskhi Energy Private Limited - India
- Mercuria Energy - Indonesia
- Therma Luzon, Inc, Philippines
- Riau Bara Harum - Indonesia
- Economic Council, Georgia
- Goldman Sachs - Singapore
- Manunggal Multi Energi - Indonesia
- Kaltim Prima Coal - Indonesia
- Bhushan Steel Limited - India
- Iligan Light & Power Inc, Philippines
- Semirara Mining Corp, Philippines
- Sinarmas Energy and Mining - Indonesia
- GAC Shipping (India) Pvt Ltd
- Indian Oil Corporation Limited
- Kapuas Tunggal Persada - Indonesia
- Oldendorff Carriers - Singapore
- Edison Trading Spa - Italy
- Parliament of New Zealand
- Global Coal Blending Company Limited - Australia
- IEA Clean Coal Centre - UK
- Intertek Mineral Services - Indonesia
- Port Waratah Coal Services - Australia
- Orica Mining Services - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Ambuja Cements Ltd - India
- Chamber of Mines of South Africa
- Antam Resourcindo - Indonesia
- Straits Asia Resources Limited - Singapore
- LBH Netherlands Bv - Netherlands
- Indogreen Group - Indonesia
- Merrill Lynch Commodities Europe
- Timah Investasi Mineral - Indoneisa
- SMG Consultants - Indonesia
- Cigading International Bulk Terminal - Indonesia
- The University of Queensland
- Salva Resources Pvt Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Bulk Trading Sa - Switzerland
- Eastern Coal Council - USA
- GN Power Mariveles Coal Plant, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Tamil Nadu electricity Board
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sical Logistics Limited - India
- Xindia Steels Limited - India
- Indika Energy - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Samtan Co., Ltd - South Korea
- Banpu Public Company Limited - Thailand
- Planning Commission, India
- Renaissance Capital - South Africa
- Eastern Energy - Thailand
- Altura Mining Limited, Indonesia
- Leighton Contractors Pty Ltd - Australia
- Kartika Selabumi Mining - Indonesia
- SN Aboitiz Power Inc, Philippines
- Vizag Seaport Private Limited - India
- Wood Mackenzie - Singapore
- TeaM Sual Corporation - Philippines
- Miang Besar Coal Terminal - Indonesia
- Makarim & Taira - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Bhoruka Overseas - Indonesia
- Energy Link Ltd, New Zealand
- London Commodity Brokers - England
- Bharathi Cement Corporation - India
- Orica Australia Pty. Ltd.
- Kumho Petrochemical, South Korea
- Pendopo Energi Batubara - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Sindya Power Generating Company Private Ltd
- Larsen & Toubro Limited - India
- Bhatia International Limited - India
- Dalmia Cement Bharat India
- Jaiprakash Power Ventures ltd
- GVK Power & Infra Limited - India
- Directorate General of MIneral and Coal - Indonesia
- SMC Global Power, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Maheswari Brothers Coal Limited - India
- Minerals Council of Australia
- Grasim Industreis Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Electricity Authority, New Zealand
- White Energy Company Limited
- Deloitte Consulting - India
- Kideco Jaya Agung - Indonesia
- Parry Sugars Refinery, India
- Indo Tambangraya Megah - Indonesia
- Sarangani Energy Corporation, Philippines
- Anglo American - United Kingdom
- International Coal Ventures Pvt Ltd - India
- Indian Energy Exchange, India
- Interocean Group of Companies - India
- Tata Chemicals Ltd - India
- Indonesian Coal Mining Association
- Sakthi Sugars Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Romanian Commodities Exchange
- Billiton Holdings Pty Ltd - Australia
- Global Business Power Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Central Electricity Authority - India
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