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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, 27 June 12
DIRECTORATE GENERAL OF MINERAL AND COAL OF INDONESIA INTRODUCES ON-LINE SYSTEM FOR MINING PRODUCTS EXPORT APPROVAL
COALspot.com - Directorate General of Mineral and Coal of Indonesia has released "Clear and Clean" certificate for another 33 coal miners ...
Monday, 25 June 12
RIO TINTO MAKES FIRST COAL SHIPMENT FROM MOZAMBIQUE
Rio Tinto has started exporting premium hard coking coal from its Benga Mine in the Moatize Basin in Mozambique. The first shipment of 34,000 tonnes ...
Sunday, 24 June 12
SUPRAMAX FREIGHT MARKET FIRMED UP FROM INDONESIA TO INDIA - VISTAAR
COALspot.com - This week all the segments gained and marked was firm in the Supramax and Handy size sector, where as the Cape and Panamax inde ...
Saturday, 23 June 12
COAL PRICES APPETITE FOR ROLLER-COASTER RIDES
COALspot.com - SGX AsiaClear OTC Coal Swaps have suffered something of a roller-coaster ride in terms of prices during this week. SGX’s Indone ...
Friday, 22 June 12
PRESENT SPOT WEAKNESS IS TEMPORARY, SEASONAL AND RISE AS WINTER APPROACHES - BUMI
COALspot.com - PT Bumi Resources Tbk, the world’s one of the largest coal producer and Indonesia’s largest multi grade coal miner has no ...
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- Energy Development Corp, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Sree Jayajothi Cements Limited - India
- Bhatia International Limited - India
- Alfred C Toepfer International GmbH - Germany
- Petron Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- Madhucon Powers Ltd - India
- Bukit Baiduri Energy - Indonesia
- Anglo American - United Kingdom
- Bhoruka Overseas - Indonesia
- Goldman Sachs - Singapore
- Mercator Lines Limited - India
- Binh Thuan Hamico - Vietnam
- India Bulls Power Limited - India
- Sojitz Corporation - Japan
- The State Trading Corporation of India Ltd
- Singapore Mercantile Exchange
- Vizag Seaport Private Limited - India
- Independent Power Producers Association of India
- Indogreen Group - Indonesia
- Agrawal Coal Company - India
- Miang Besar Coal Terminal - Indonesia
- Africa Commodities Group - South Africa
- OPG Power Generation Pvt Ltd - India
- Heidelberg Cement - Germany
- Indo Tambangraya Megah - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Ambuja Cements Ltd - India
- Commonwealth Bank - Australia
- Trasteel International SA, Italy
- Globalindo Alam Lestari - Indonesia
- Makarim & Taira - Indonesia
- Kartika Selabumi Mining - Indonesia
- The Treasury - Australian Government
- Indian Oil Corporation Limited
- Simpson Spence & Young - Indonesia
- Lanco Infratech Ltd - India
- Maheswari Brothers Coal Limited - India
- Bhushan Steel Limited - India
- Siam City Cement - Thailand
- Bayan Resources Tbk. - Indonesia
- MS Steel International - UAE
- Eastern Energy - Thailand
- Kapuas Tunggal Persada - Indonesia
- Malabar Cements Ltd - India
- Jaiprakash Power Ventures ltd
- CIMB Investment Bank - Malaysia
- Rashtriya Ispat Nigam Limited - India
- Price Waterhouse Coopers - Russia
- Kideco Jaya Agung - Indonesia
- Altura Mining Limited, Indonesia
- Timah Investasi Mineral - Indoneisa
- Bukit Asam (Persero) Tbk - Indonesia
- LBH Netherlands Bv - Netherlands
- PNOC Exploration Corporation - Philippines
- Cement Manufacturers Association - India
- Deloitte Consulting - India
- Parliament of New Zealand
- Offshore Bulk Terminal Pte Ltd, Singapore
- ASAPP Information Group - India
- Parry Sugars Refinery, India
- Uttam Galva Steels Limited - India
- Videocon Industries ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- South Luzon Thermal Energy Corporation
- IEA Clean Coal Centre - UK
- Central Electricity Authority - India
- Tamil Nadu electricity Board
- Power Finance Corporation Ltd., India
- Bharathi Cement Corporation - India
- Meralco Power Generation, Philippines
- Electricity Generating Authority of Thailand
- AsiaOL BioFuels Corp., Philippines
- Latin American Coal - Colombia
- Asmin Koalindo Tuhup - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Kobexindo Tractors - Indoneisa
- Planning Commission, India
- Vijayanagar Sugar Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Electricity Authority, New Zealand
- Thai Mozambique Logistica
- International Coal Ventures Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- Indika Energy - Indonesia
- Interocean Group of Companies - India
- Directorate General of MIneral and Coal - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- SMC Global Power, Philippines
- Ministry of Transport, Egypt
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indian Energy Exchange, India
- Toyota Tsusho Corporation, Japan
- Gujarat Sidhee Cement - India
- Global Coal Blending Company Limited - Australia
- Salva Resources Pvt Ltd - India
- Chamber of Mines of South Africa
- Antam Resourcindo - Indonesia
- Aboitiz Power Corporation - Philippines
- Thiess Contractors Indonesia
- Bangladesh Power Developement Board
- Ministry of Finance - Indonesia
- Australian Commodity Traders Exchange
- Coalindo Energy - Indonesia
- Sindya Power Generating Company Private Ltd
- Central Java Power - Indonesia
- Riau Bara Harum - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Chettinad Cement Corporation Ltd - India
- Coal and Oil Company - UAE
- Renaissance Capital - South Africa
- Attock Cement Pakistan Limited
- Bukit Makmur.PT - Indonesia
- Mercuria Energy - Indonesia
- Merrill Lynch Commodities Europe
- Kalimantan Lumbung Energi - Indonesia
- Global Green Power PLC Corporation, Philippines
- Bulk Trading Sa - Switzerland
- Kohat Cement Company Ltd. - Pakistan
- Kepco SPC Power Corporation, Philippines
- Sakthi Sugars Limited - India
- Straits Asia Resources Limited - Singapore
- Minerals Council of Australia
- Dalmia Cement Bharat India
- VISA Power Limited - India
- Mintek Dendrill Indonesia
- ICICI Bank Limited - India
- TeaM Sual Corporation - Philippines
- Ceylon Electricity Board - Sri Lanka
- Ind-Barath Power Infra Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- White Energy Company Limited
- Standard Chartered Bank - UAE
- Baramulti Group, Indonesia
- Energy Link Ltd, New Zealand
- Orica Australia Pty. Ltd.
- TNB Fuel Sdn Bhd - Malaysia
- Intertek Mineral Services - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Vedanta Resources Plc - India
- Mjunction Services Limited - India
- Xindia Steels Limited - India
- PowerSource Philippines DevCo
- Directorate Of Revenue Intelligence - India
- IHS Mccloskey Coal Group - USA
- PTC India Limited - India
- Carbofer General Trading SA - India
- Kumho Petrochemical, South Korea
- Georgia Ports Authority, United States
- Australian Coal Association
- San Jose City I Power Corp, Philippines
- Sinarmas Energy and Mining - Indonesia
- Essar Steel Hazira Ltd - India
- Coastal Gujarat Power Limited - India
- GAC Shipping (India) Pvt Ltd
- Borneo Indobara - Indonesia
- Iligan Light & Power Inc, Philippines
- Krishnapatnam Port Company Ltd. - India
- Larsen & Toubro Limited - India
- SN Aboitiz Power Inc, Philippines
- Economic Council, Georgia
- Cigading International Bulk Terminal - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Barasentosa Lestari - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Posco Energy - South Korea
- Romanian Commodities Exchange
- GVK Power & Infra Limited - India
- Port Waratah Coal Services - Australia
- Aditya Birla Group - India
- GN Power Mariveles Coal Plant, Philippines
- Metalloyd Limited - United Kingdom
- Grasim Industreis Ltd - India
- Tata Chemicals Ltd - India
- Meenaskhi Energy Private Limited - India
- Therma Luzon, Inc, Philippines
- Wood Mackenzie - Singapore
- Marubeni Corporation - India
- Petrochimia International Co. Ltd.- Taiwan
- Global Business Power Corporation, Philippines
- Ministry of Mines - Canada
- Asia Pacific Energy Resources Ventures Inc, Philippines
- McConnell Dowell - Australia
- London Commodity Brokers - England
- Indonesian Coal Mining Association
- Maharashtra Electricity Regulatory Commission - India
- Siam City Cement PLC, Thailand
- Bahari Cakrawala Sebuku - Indonesia
- Wilmar Investment Holdings
- The University of Queensland
- Banpu Public Company Limited - Thailand
- Pendopo Energi Batubara - Indonesia
- Edison Trading Spa - Italy
- Star Paper Mills Limited - India
- SMG Consultants - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Medco Energi Mining Internasional
- GMR Energy Limited - India
- European Bulk Services B.V. - Netherlands
- Jindal Steel & Power Ltd - India
- CNBM International Corporation - China
- Sical Logistics Limited - India
- New Zealand Coal & Carbon
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Rio Tinto Coal - Australia
- Oldendorff Carriers - Singapore
- Savvy Resources Ltd - HongKong
- Samtan Co., Ltd - South Korea
- Kaltim Prima Coal - Indonesia
- Semirara Mining Corp, Philippines
- Sarangani Energy Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- Orica Mining Services - Indonesia
- Eastern Coal Council - USA
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