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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, 01 February 12
2% OF IBPS TOTAL CONCESSION AREA CONTAINS TOTAL COAL RESOURCE OF 56.1 MILLION TON
COALspot.com - PT. Britmindo, a mine consulting firm, has finalized PT. Insani Bara Perkasa (IBP) first JORC (Joint Ore Reserves Committee) res ...
Tuesday, 31 January 12
THERE ARE MANY GOOD REASONS FOR COAL IN GERMANY - DR CIESLIK
COALspot.com - "The year 2011 was again marked by many changes on the markets and energy policies, at times in line with expectations, but at o ...
Tuesday, 31 January 12
DRY BULK MARKET KEEPS FALLING FOR WORST MONTH IN YEARS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market didn't manage to put a halt in its downfall, with the industry's benchmark, the BDI (Baltic Dry Index), posting yet another fa ...
Monday, 30 January 12
CHINA'S HUNGER FOR COAL LEAVES DENT IN PENNSYLVANIA'S SUPPLY - THOMAS LESKIN
With the price of heating oil on the rise, one of Pennsylvania's greatest natural resources - coal - is in high demand, and not just locally.
Et ...
Saturday, 28 January 12
WILL FREIGHT MARKET STABILIZE FROM NEXT WEEK?
COALspot.com - The markets continued to soften with BDI at 663 points down by 15.78 pct closing at 726 points and cape index was down by 5.73 pct cl ...
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- Vedanta Resources Plc - India
- Miang Besar Coal Terminal - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Kideco Jaya Agung - Indonesia
- Kartika Selabumi Mining - Indonesia
- Ind-Barath Power Infra Limited - India
- Alfred C Toepfer International GmbH - Germany
- Central Java Power - Indonesia
- Bangladesh Power Developement Board
- Sree Jayajothi Cements Limited - India
- Orica Mining Services - Indonesia
- Madhucon Powers Ltd - India
- Planning Commission, India
- Krishnapatnam Port Company Ltd. - India
- Rio Tinto Coal - Australia
- Sindya Power Generating Company Private Ltd
- Bukit Baiduri Energy - Indonesia
- GVK Power & Infra Limited - India
- International Coal Ventures Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Thiess Contractors Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Lanco Infratech Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- CIMB Investment Bank - Malaysia
- Edison Trading Spa - Italy
- Indian Oil Corporation Limited
- Directorate Of Revenue Intelligence - India
- SMG Consultants - Indonesia
- Barasentosa Lestari - Indonesia
- Sarangani Energy Corporation, Philippines
- New Zealand Coal & Carbon
- Africa Commodities Group - South Africa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- TeaM Sual Corporation - Philippines
- Coal and Oil Company - UAE
- Toyota Tsusho Corporation, Japan
- Attock Cement Pakistan Limited
- Jorong Barutama Greston.PT - Indonesia
- McConnell Dowell - Australia
- IHS Mccloskey Coal Group - USA
- ICICI Bank Limited - India
- Borneo Indobara - Indonesia
- PowerSource Philippines DevCo
- London Commodity Brokers - England
- Minerals Council of Australia
- Sakthi Sugars Limited - India
- Heidelberg Cement - Germany
- Antam Resourcindo - Indonesia
- Xindia Steels Limited - India
- Electricity Generating Authority of Thailand
- IEA Clean Coal Centre - UK
- Savvy Resources Ltd - HongKong
- Energy Development Corp, Philippines
- White Energy Company Limited
- Cement Manufacturers Association - India
- Parliament of New Zealand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Siam City Cement PLC, Thailand
- Bhoruka Overseas - Indonesia
- Straits Asia Resources Limited - Singapore
- The Treasury - Australian Government
- Sical Logistics Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Timah Investasi Mineral - Indoneisa
- Wood Mackenzie - Singapore
- Coastal Gujarat Power Limited - India
- Merrill Lynch Commodities Europe
- Karaikal Port Pvt Ltd - India
- Altura Mining Limited, Indonesia
- European Bulk Services B.V. - Netherlands
- Posco Energy - South Korea
- Maharashtra Electricity Regulatory Commission - India
- Dalmia Cement Bharat India
- Sojitz Corporation - Japan
- Commonwealth Bank - Australia
- TNB Fuel Sdn Bhd - Malaysia
- VISA Power Limited - India
- Bulk Trading Sa - Switzerland
- Agrawal Coal Company - India
- Sinarmas Energy and Mining - Indonesia
- Simpson Spence & Young - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Kalimantan Lumbung Energi - Indonesia
- Holcim Trading Pte Ltd - Singapore
- GMR Energy Limited - India
- Global Business Power Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Goldman Sachs - Singapore
- SMC Global Power, Philippines
- Binh Thuan Hamico - Vietnam
- Power Finance Corporation Ltd., India
- Anglo American - United Kingdom
- Indian Energy Exchange, India
- Videocon Industries ltd - India
- Parry Sugars Refinery, India
- Thai Mozambique Logistica
- San Jose City I Power Corp, Philippines
- Indogreen Group - Indonesia
- Kumho Petrochemical, South Korea
- ASAPP Information Group - India
- Neyveli Lignite Corporation Ltd, - India
- MS Steel International - UAE
- Chettinad Cement Corporation Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Aboitiz Power Corporation - Philippines
- Central Electricity Authority - India
- Uttam Galva Steels Limited - India
- Semirara Mining and Power Corporation, Philippines
- Metalloyd Limited - United Kingdom
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Gujarat Sidhee Cement - India
- Directorate General of MIneral and Coal - Indonesia
- Globalindo Alam Lestari - Indonesia
- Semirara Mining Corp, Philippines
- Renaissance Capital - South Africa
- Independent Power Producers Association of India
- LBH Netherlands Bv - Netherlands
- Grasim Industreis Ltd - India
- Standard Chartered Bank - UAE
- Petron Corporation, Philippines
- Vizag Seaport Private Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Malabar Cements Ltd - India
- Bukit Makmur.PT - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Meralco Power Generation, Philippines
- South Luzon Thermal Energy Corporation
- Medco Energi Mining Internasional
- Indonesian Coal Mining Association
- India Bulls Power Limited - India
- Mercuria Energy - Indonesia
- Star Paper Mills Limited - India
- Electricity Authority, New Zealand
- SN Aboitiz Power Inc, Philippines
- Australian Commodity Traders Exchange
- OPG Power Generation Pvt Ltd - India
- Ambuja Cements Ltd - India
- Meenaskhi Energy Private Limited - India
- Intertek Mineral Services - Indonesia
- Bhushan Steel Limited - India
- Kobexindo Tractors - Indoneisa
- Essar Steel Hazira Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Trasteel International SA, Italy
- Indo Tambangraya Megah - Indonesia
- Eastern Energy - Thailand
- Energy Link Ltd, New Zealand
- Therma Luzon, Inc, Philippines
- Kapuas Tunggal Persada - Indonesia
- Ministry of Mines - Canada
- Coalindo Energy - Indonesia
- Singapore Mercantile Exchange
- Formosa Plastics Group - Taiwan
- Makarim & Taira - Indonesia
- Jindal Steel & Power Ltd - India
- The State Trading Corporation of India Ltd
- CNBM International Corporation - China
- Port Waratah Coal Services - Australia
- Mintek Dendrill Indonesia
- Latin American Coal - Colombia
- Eastern Coal Council - USA
- Siam City Cement - Thailand
- Global Coal Blending Company Limited - Australia
- Ministry of Transport, Egypt
- Baramulti Group, Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Salva Resources Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- Marubeni Corporation - India
- GAC Shipping (India) Pvt Ltd
- Deloitte Consulting - India
- Samtan Co., Ltd - South Korea
- Aditya Birla Group - India
- Carbofer General Trading SA - India
- Oldendorff Carriers - Singapore
- Leighton Contractors Pty Ltd - Australia
- Bayan Resources Tbk. - Indonesia
- Mjunction Services Limited - India
- Economic Council, Georgia
- Interocean Group of Companies - India
- Orica Australia Pty. Ltd.
- Price Waterhouse Coopers - Russia
- PTC India Limited - India
- Global Green Power PLC Corporation, Philippines
- Australian Coal Association
- Karbindo Abesyapradhi - Indoneisa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Wilmar Investment Holdings
- Bharathi Cement Corporation - India
- Mercator Lines Limited - India
- AsiaOL BioFuels Corp., Philippines
- Georgia Ports Authority, United States
- Cigading International Bulk Terminal - Indonesia
- The University of Queensland
- PNOC Exploration Corporation - Philippines
- Tata Chemicals Ltd - India
- Riau Bara Harum - Indonesia
- Kepco SPC Power Corporation, Philippines
- Chamber of Mines of South Africa
- Billiton Holdings Pty Ltd - Australia
- Ministry of Finance - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Romanian Commodities Exchange
- Jaiprakash Power Ventures ltd
- Manunggal Multi Energi - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Banpu Public Company Limited - Thailand
- Maheswari Brothers Coal Limited - India
- Gujarat Electricity Regulatory Commission - India
- Bhatia International Limited - India
- Larsen & Toubro Limited - India
- Pendopo Energi Batubara - Indonesia
- Tamil Nadu electricity Board
- Kaltim Prima Coal - Indonesia
- Indika Energy - Indonesia
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