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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 $152 million selling shares in an August IPO.
Source: Bloomberg ( By Jesse Riseborough and Yoga Rusmana )
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Monday, 05 March 12
SOUTHGOBI ANNOUNCES AGREEMENT TO SELL ITS THERMAL COAL TSAGAAN TOLGOI DEPOSIT FOR US$ 30 MILLION
SouthGobi Resources Ltd. (TSX: SGQ, HK: 1878) announced today an agreement to sell its thermal coal property, the Tsagaan Tolgoi Deposit to Modun Re ...
Monday, 05 March 12
SOME RESOURCE TITANS NOT THRILLED WITH INDONESIAN EXPORT BAN - THE JAKARTA GLOBE
The Jakarta Globe reported that, local representatives of major business associations in East Kalimantan have protested a government regulation that ...
Monday, 05 March 12
WEEKLY DRY MARKET OVERVIEW - MARIA BERTZELETOU, HELLENIC SHIPPING
An air of optimism poured in the market this week for dry bulk shippers with the Baltic Dry Index recording daily gains during the end of February b ...
Sunday, 04 March 12
SE ASIA WAS FIRM FOR TRIPS TO INDIA AND CHINA - VISTAAR
COALspot.com - This week saw another upward trend with all indices up and generally market was firm.
The BDI was up by 7.38 pct closing at 771 po ...
Friday, 02 March 12
DJMBP HAS ANNOUNCED SECOND BATCH OF CLEAR N CLEAN CERTIFIED MINERS
COALspot.com - The Directorate general of mineral & coal of Indonesia has announced second batch of companies who have passed IUP Clear and Clea ...
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- Vijayanagar Sugar Pvt Ltd - India
- Petron Corporation, Philippines
- Eastern Energy - Thailand
- TNB Fuel Sdn Bhd - Malaysia
- Heidelberg Cement - Germany
- Ministry of Finance - Indonesia
- International Coal Ventures Pvt Ltd - India
- India Bulls Power Limited - India
- Port Waratah Coal Services - Australia
- Jaiprakash Power Ventures ltd
- Bayan Resources Tbk. - Indonesia
- Indonesian Coal Mining Association
- Central Electricity Authority - India
- Pendopo Energi Batubara - Indonesia
- Orica Mining Services - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Thai Mozambique Logistica
- Standard Chartered Bank - UAE
- Meenaskhi Energy Private Limited - India
- San Jose City I Power Corp, Philippines
- Intertek Mineral Services - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Simpson Spence & Young - Indonesia
- Aditya Birla Group - India
- Marubeni Corporation - India
- GVK Power & Infra Limited - India
- PowerSource Philippines DevCo
- Aboitiz Power Corporation - Philippines
- Malabar Cements Ltd - India
- Grasim Industreis Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Manunggal Multi Energi - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Billiton Holdings Pty Ltd - Australia
- Karaikal Port Pvt Ltd - India
- Kumho Petrochemical, South Korea
- Mercator Lines Limited - India
- Lanco Infratech Ltd - India
- Mintek Dendrill Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Wood Mackenzie - Singapore
- Planning Commission, India
- Semirara Mining and Power Corporation, Philippines
- Commonwealth Bank - Australia
- Videocon Industries ltd - India
- Romanian Commodities Exchange
- Ind-Barath Power Infra Limited - India
- Borneo Indobara - Indonesia
- Trasteel International SA, Italy
- PNOC Exploration Corporation - Philippines
- Barasentosa Lestari - Indonesia
- Eastern Coal Council - USA
- Bukit Makmur.PT - Indonesia
- Sarangani Energy Corporation, Philippines
- Africa Commodities Group - South Africa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- CNBM International Corporation - China
- Karbindo Abesyapradhi - Indoneisa
- Singapore Mercantile Exchange
- Sindya Power Generating Company Private Ltd
- White Energy Company Limited
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Cement Manufacturers Association - India
- LBH Netherlands Bv - Netherlands
- Straits Asia Resources Limited - Singapore
- Independent Power Producers Association of India
- MS Steel International - UAE
- Banpu Public Company Limited - Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- Chettinad Cement Corporation Ltd - India
- Central Java Power - Indonesia
- Ambuja Cements Ltd - India
- Larsen & Toubro Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Economic Council, Georgia
- Latin American Coal - Colombia
- Gujarat Sidhee Cement - India
- The Treasury - Australian Government
- CIMB Investment Bank - Malaysia
- Global Coal Blending Company Limited - Australia
- Edison Trading Spa - Italy
- Coal and Oil Company - UAE
- Renaissance Capital - South Africa
- Indo Tambangraya Megah - Indonesia
- McConnell Dowell - Australia
- Sree Jayajothi Cements Limited - India
- Gujarat Electricity Regulatory Commission - India
- Ministry of Mines - Canada
- Tamil Nadu electricity Board
- Global Business Power Corporation, Philippines
- Parliament of New Zealand
- Electricity Generating Authority of Thailand
- Bhoruka Overseas - Indonesia
- PTC India Limited - India
- Indika Energy - Indonesia
- Essar Steel Hazira Ltd - India
- Maheswari Brothers Coal Limited - India
- Kapuas Tunggal Persada - Indonesia
- Australian Commodity Traders Exchange
- The State Trading Corporation of India Ltd
- Wilmar Investment Holdings
- Salva Resources Pvt Ltd - India
- Indian Energy Exchange, India
- Price Waterhouse Coopers - Russia
- Bulk Trading Sa - Switzerland
- Deloitte Consulting - India
- European Bulk Services B.V. - Netherlands
- Chamber of Mines of South Africa
- Energy Link Ltd, New Zealand
- Uttam Galva Steels Limited - India
- Neyveli Lignite Corporation Ltd, - India
- SN Aboitiz Power Inc, Philippines
- ICICI Bank Limited - India
- Antam Resourcindo - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Sinarmas Energy and Mining - Indonesia
- Sojitz Corporation - Japan
- Rio Tinto Coal - Australia
- Iligan Light & Power Inc, Philippines
- Timah Investasi Mineral - Indoneisa
- SMG Consultants - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Jindal Steel & Power Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Savvy Resources Ltd - HongKong
- Holcim Trading Pte Ltd - Singapore
- Mjunction Services Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Siam City Cement - Thailand
- Miang Besar Coal Terminal - Indonesia
- Merrill Lynch Commodities Europe
- Thiess Contractors Indonesia
- Krishnapatnam Port Company Ltd. - India
- Indian Oil Corporation Limited
- Goldman Sachs - Singapore
- Energy Development Corp, Philippines
- Metalloyd Limited - United Kingdom
- GAC Shipping (India) Pvt Ltd
- Formosa Plastics Group - Taiwan
- Xindia Steels Limited - India
- Globalindo Alam Lestari - Indonesia
- Electricity Authority, New Zealand
- OPG Power Generation Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- Bhushan Steel Limited - India
- ASAPP Information Group - India
- Kohat Cement Company Ltd. - Pakistan
- Binh Thuan Hamico - Vietnam
- VISA Power Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Star Paper Mills Limited - India
- Global Green Power PLC Corporation, Philippines
- Tata Chemicals Ltd - India
- Samtan Co., Ltd - South Korea
- Gujarat Mineral Development Corp Ltd - India
- Riau Bara Harum - Indonesia
- Minerals Council of Australia
- Kaltim Prima Coal - Indonesia
- London Commodity Brokers - England
- The University of Queensland
- Attock Cement Pakistan Limited
- Georgia Ports Authority, United States
- Vedanta Resources Plc - India
- AsiaOL BioFuels Corp., Philippines
- Asmin Koalindo Tuhup - Indonesia
- Orica Australia Pty. Ltd.
- Kideco Jaya Agung - Indonesia
- Carbofer General Trading SA - India
- Australian Coal Association
- GMR Energy Limited - India
- Semirara Mining Corp, Philippines
- Agrawal Coal Company - India
- South Luzon Thermal Energy Corporation
- Maharashtra Electricity Regulatory Commission - India
- Mercuria Energy - Indonesia
- Bangladesh Power Developement Board
- Dalmia Cement Bharat India
- Bhatia International Limited - India
- SMC Global Power, Philippines
- Oldendorff Carriers - Singapore
- Coastal Gujarat Power Limited - India
- Vizag Seaport Private Limited - India
- Altura Mining Limited, Indonesia
- Cigading International Bulk Terminal - Indonesia
- Madhucon Powers Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- New Zealand Coal & Carbon
- Posco Energy - South Korea
- Kobexindo Tractors - Indoneisa
- Offshore Bulk Terminal Pte Ltd, Singapore
- Makarim & Taira - Indonesia
- Power Finance Corporation Ltd., India
- Parry Sugars Refinery, India
- Coalindo Energy - Indonesia
- Anglo American - United Kingdom
- Bukit Baiduri Energy - Indonesia
- IEA Clean Coal Centre - UK
- Siam City Cement PLC, Thailand
- Ministry of Transport, Egypt
- Toyota Tsusho Corporation, Japan
- Bharathi Cement Corporation - India
- Kartika Selabumi Mining - Indonesia
- Kepco SPC Power Corporation, Philippines
- TeaM Sual Corporation - Philippines
- Baramulti Group, Indonesia
- Meralco Power Generation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Sakthi Sugars Limited - India
- Interocean Group of Companies - India
- Indogreen Group - Indonesia
- Sical Logistics Limited - India
- Medco Energi Mining Internasional
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- IHS Mccloskey Coal Group - USA
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