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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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Wednesday, 29 August 12
COLOMBIA'S MINING BOOM: PART ONE - JOSEPH KIRSCHKE
COALspot.com - Colombia stands before one of the potentially largest, most diversified mining booms in the world. Untold reserves of gold, coal, cop ...
Wednesday, 29 August 12
SECOND HAND VESSELS IN HIGH DEMAND DESPITE SUMMER SEASON - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Despite the slow summer season, ship owners appear to be rather keen in acquiring some modern second hand tonnage at "knock-down" prices. ...
Monday, 27 August 12
BUMI BOOKS $322.1 MILLION NET LOSS IN 1H 2012 IN SPITE OF 8.6 PERCENT INCREASE IN SALES REVENUE
PT Bumi Resources Tbk, the single largest coal producer and exporter in Indonesia announces its first half financial report for the ...
Monday, 27 August 12
OVER 200 FOREIGN COMPANIES AND ENERGY MAJORS EXPECTED AT 2ND MOGP SUMMIT IN YANGON
Singapore based CMT and Machinery & Solutions Co. Ltd (M&S) announce that the 2nd MOGP Summit will be held on 3-6 September at the Sedona ho ...
Sunday, 26 August 12
SOUTH AFRICAN COAL OVERVIEW
South Africa's indigenous energy resource base is dominated by coal.
Internationally, coal is the most widely used primary fuel, accounting for ...
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- Holcim Trading Pte Ltd - Singapore
- Vizag Seaport Private Limited - India
- Posco Energy - South Korea
- Kobexindo Tractors - Indoneisa
- European Bulk Services B.V. - Netherlands
- Antam Resourcindo - Indonesia
- SMG Consultants - Indonesia
- Straits Asia Resources Limited - Singapore
- Therma Luzon, Inc, Philippines
- Electricity Authority, New Zealand
- CIMB Investment Bank - Malaysia
- Meenaskhi Energy Private Limited - India
- The University of Queensland
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Energy Link Ltd, New Zealand
- Vedanta Resources Plc - India
- Lanco Infratech Ltd - India
- CNBM International Corporation - China
- Indika Energy - Indonesia
- Mintek Dendrill Indonesia
- Meralco Power Generation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Star Paper Mills Limited - India
- Videocon Industries ltd - India
- Sical Logistics Limited - India
- Goldman Sachs - Singapore
- Sojitz Corporation - Japan
- Bank of Tokyo Mitsubishi UFJ Ltd
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- London Commodity Brokers - England
- Ministry of Finance - Indonesia
- Malabar Cements Ltd - India
- Heidelberg Cement - Germany
- India Bulls Power Limited - India
- Gujarat Electricity Regulatory Commission - India
- Globalindo Alam Lestari - Indonesia
- Makarim & Taira - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Bayan Resources Tbk. - Indonesia
- Leighton Contractors Pty Ltd - Australia
- International Coal Ventures Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- Sindya Power Generating Company Private Ltd
- Indian Oil Corporation Limited
- Parliament of New Zealand
- GVK Power & Infra Limited - India
- Orica Australia Pty. Ltd.
- PowerSource Philippines DevCo
- PetroVietnam Power Coal Import and Supply Company
- Toyota Tsusho Corporation, Japan
- Coalindo Energy - Indonesia
- The Treasury - Australian Government
- Coastal Gujarat Power Limited - India
- ICICI Bank Limited - India
- Port Waratah Coal Services - Australia
- The State Trading Corporation of India Ltd
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Iligan Light & Power Inc, Philippines
- Samtan Co., Ltd - South Korea
- VISA Power Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Xindia Steels Limited - India
- Central Java Power - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Oldendorff Carriers - Singapore
- GAC Shipping (India) Pvt Ltd
- Indian Energy Exchange, India
- Essar Steel Hazira Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Binh Thuan Hamico - Vietnam
- Bhoruka Overseas - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- IEA Clean Coal Centre - UK
- Ministry of Mines - Canada
- Deloitte Consulting - India
- Bahari Cakrawala Sebuku - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Chamber of Mines of South Africa
- Neyveli Lignite Corporation Ltd, - India
- Electricity Generating Authority of Thailand
- Global Business Power Corporation, Philippines
- Formosa Plastics Group - Taiwan
- Anglo American - United Kingdom
- Kartika Selabumi Mining - Indonesia
- Gujarat Sidhee Cement - India
- Trasteel International SA, Italy
- Chettinad Cement Corporation Ltd - India
- Eastern Coal Council - USA
- Miang Besar Coal Terminal - Indonesia
- Marubeni Corporation - India
- Wilmar Investment Holdings
- Thai Mozambique Logistica
- Aboitiz Power Corporation - Philippines
- OPG Power Generation Pvt Ltd - India
- Australian Commodity Traders Exchange
- Africa Commodities Group - South Africa
- Planning Commission, India
- ASAPP Information Group - India
- MS Steel International - UAE
- Commonwealth Bank - Australia
- Romanian Commodities Exchange
- Jindal Steel & Power Ltd - India
- Wood Mackenzie - Singapore
- Bharathi Cement Corporation - India
- Petron Corporation, Philippines
- GMR Energy Limited - India
- Standard Chartered Bank - UAE
- Orica Mining Services - Indonesia
- Timah Investasi Mineral - Indoneisa
- Bhushan Steel Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Interocean Group of Companies - India
- Baramulti Group, Indonesia
- PTC India Limited - India
- Central Electricity Authority - India
- Kepco SPC Power Corporation, Philippines
- Banpu Public Company Limited - Thailand
- IHS Mccloskey Coal Group - USA
- Maheswari Brothers Coal Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Semirara Mining and Power Corporation, Philippines
- Barasentosa Lestari - Indonesia
- Ind-Barath Power Infra Limited - India
- Eastern Energy - Thailand
- Larsen & Toubro Limited - India
- New Zealand Coal & Carbon
- LBH Netherlands Bv - Netherlands
- South Luzon Thermal Energy Corporation
- Jaiprakash Power Ventures ltd
- Edison Trading Spa - Italy
- Energy Development Corp, Philippines
- Bukit Makmur.PT - Indonesia
- Dalmia Cement Bharat India
- Kumho Petrochemical, South Korea
- Kalimantan Lumbung Energi - Indonesia
- Attock Cement Pakistan Limited
- Siam City Cement - Thailand
- Riau Bara Harum - Indonesia
- Australian Coal Association
- Bulk Trading Sa - Switzerland
- Latin American Coal - Colombia
- Kaltim Prima Coal - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Rashtriya Ispat Nigam Limited - India
- Ministry of Transport, Egypt
- Simpson Spence & Young - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Carbofer General Trading SA - India
- Global Coal Blending Company Limited - Australia
- Mercator Lines Limited - India
- Minerals Council of Australia
- Georgia Ports Authority, United States
- Coal and Oil Company - UAE
- Power Finance Corporation Ltd., India
- Maharashtra Electricity Regulatory Commission - India
- Cement Manufacturers Association - India
- Tamil Nadu electricity Board
- Pendopo Energi Batubara - Indonesia
- Siam City Cement PLC, Thailand
- Savvy Resources Ltd - HongKong
- Intertek Mineral Services - Indonesia
- Bhatia International Limited - India
- Ambuja Cements Ltd - India
- Renaissance Capital - South Africa
- Uttam Galva Steels Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Indonesian Coal Mining Association
- Independent Power Producers Association of India
- Global Green Power PLC Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Borneo Indobara - Indonesia
- Parry Sugars Refinery, India
- PNOC Exploration Corporation - Philippines
- Indogreen Group - Indonesia
- Medco Energi Mining Internasional
- Aditya Birla Group - India
- TeaM Sual Corporation - Philippines
- Rio Tinto Coal - Australia
- AsiaOL BioFuels Corp., Philippines
- Grasim Industreis Ltd - India
- Agrawal Coal Company - India
- Ceylon Electricity Board - Sri Lanka
- Kideco Jaya Agung - Indonesia
- Bukit Baiduri Energy - Indonesia
- Thiess Contractors Indonesia
- Manunggal Multi Energi - Indonesia
- Price Waterhouse Coopers - Russia
- Merrill Lynch Commodities Europe
- Asmin Koalindo Tuhup - Indonesia
- Sree Jayajothi Cements Limited - India
- Kohat Cement Company Ltd. - Pakistan
- SN Aboitiz Power Inc, Philippines
- San Jose City I Power Corp, Philippines
- Singapore Mercantile Exchange
- Metalloyd Limited - United Kingdom
- Madhucon Powers Ltd - India
- Mjunction Services Limited - India
- McConnell Dowell - Australia
- Indo Tambangraya Megah - Indonesia
- Semirara Mining Corp, Philippines
- Bangladesh Power Developement Board
- TNB Fuel Sdn Bhd - Malaysia
- Economic Council, Georgia
- Tata Chemicals Ltd - India
- Karaikal Port Pvt Ltd - India
- White Energy Company Limited
- Sarangani Energy Corporation, Philippines
- Sakthi Sugars Limited - India
- Altura Mining Limited, Indonesia
- Mercuria Energy - Indonesia
- SMC Global Power, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Salva Resources Pvt Ltd - India
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