We welcome article submissions from experts in the areas of coal, mining,
shipping, etc.
To Submit your article please click here.
|
|
|
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.
|
|
Share your
coal and shipping news
|
|
“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 )
If you believe an article violates your rights or the rights of others, please contact us.
|
|
Monday, 02 January 12
THE PROMISE OF INDIA: A BRIEF INTERRUPTION? - CLARKSONS / HELLENIC SHIPPING
Future growth in Indian seaborne coal imports has sometimes been considered as one of the largest potential upsides in the currently oversupplied dr ...
Sunday, 01 January 12
IS INDIA FOLLOWING INDONESIA TO STANDARDIZE COAL PRICES TO GET MAXIMUM BENEFITS?
COALspot.com - Coal India limited, an Indian state owned and world largest coal producer has introduced gross calorific value (GCV) based pricing me ...
Saturday, 31 December 11
GLOBALCOAL NEWC INDEX SURGED 2.32 PERCENT
COALspot.com - globalCOAL index in Newcastle Port, benchmark for Asian market, ended substantially higher, surged 2.32 percent to US$115.47 per ...
Saturday, 31 December 11
BORNEO LUMBUNG TO BUY BUMI STAKE, SWAP CEO - THE JAKARTA GLOBE
The Jakarta Globe, one of the leading english news paper in Indonesia reported yesterday, shareholders of Indonesian coking coal miner Borneo Lumbun ...
Friday, 30 December 11
CENTRAL GOVERNMENT SHOULD ISSUE PERMITS - THE JAKARTA POST
The Jakarta Post reported that, business associations from both the palm oil and mining sectors have suggested that the central government should re ...
|
|
|
Showing 4906 to 4910 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Energy Link Ltd, New Zealand
- Independent Power Producers Association of India
- Orica Mining Services - Indonesia
- Bhatia International Limited - India
- Kartika Selabumi Mining - Indonesia
- Aditya Birla Group - India
- Indo Tambangraya Megah - Indonesia
- Georgia Ports Authority, United States
- Ind-Barath Power Infra Limited - India
- Sakthi Sugars Limited - India
- Vedanta Resources Plc - India
- Directorate General of MIneral and Coal - Indonesia
- Merrill Lynch Commodities Europe
- Planning Commission, India
- Maharashtra Electricity Regulatory Commission - India
- Directorate Of Revenue Intelligence - India
- Australian Coal Association
- Coal and Oil Company - UAE
- Rio Tinto Coal - Australia
- Jaiprakash Power Ventures ltd
- Pipit Mutiara Jaya. PT, Indonesia
- Karaikal Port Pvt Ltd - India
- CNBM International Corporation - China
- Essar Steel Hazira Ltd - India
- Ambuja Cements Ltd - India
- Global Green Power PLC Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sarangani Energy Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Bangladesh Power Developement Board
- Global Business Power Corporation, Philippines
- Baramulti Group, Indonesia
- New Zealand Coal & Carbon
- Energy Development Corp, Philippines
- South Luzon Thermal Energy Corporation
- Jorong Barutama Greston.PT - Indonesia
- Madhucon Powers Ltd - India
- TeaM Sual Corporation - Philippines
- Eastern Coal Council - USA
- Meenaskhi Energy Private Limited - India
- Commonwealth Bank - Australia
- ICICI Bank Limited - India
- Thiess Contractors Indonesia
- Therma Luzon, Inc, Philippines
- The University of Queensland
- Antam Resourcindo - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Formosa Plastics Group - Taiwan
- Timah Investasi Mineral - Indoneisa
- SMG Consultants - Indonesia
- McConnell Dowell - Australia
- Singapore Mercantile Exchange
- SMC Global Power, Philippines
- LBH Netherlands Bv - Netherlands
- Sical Logistics Limited - India
- Africa Commodities Group - South Africa
- Port Waratah Coal Services - Australia
- Deloitte Consulting - India
- Ministry of Finance - Indonesia
- Indian Oil Corporation Limited
- Meralco Power Generation, Philippines
- Parry Sugars Refinery, India
- GMR Energy Limited - India
- Wood Mackenzie - Singapore
- Power Finance Corporation Ltd., India
- Kobexindo Tractors - Indoneisa
- Semirara Mining Corp, Philippines
- Thai Mozambique Logistica
- Sinarmas Energy and Mining - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Chettinad Cement Corporation Ltd - India
- PTC India Limited - India
- Kapuas Tunggal Persada - Indonesia
- Lanco Infratech Ltd - India
- Agrawal Coal Company - India
- Makarim & Taira - Indonesia
- Sindya Power Generating Company Private Ltd
- VISA Power Limited - India
- Binh Thuan Hamico - Vietnam
- Electricity Authority, New Zealand
- Australian Commodity Traders Exchange
- PetroVietnam Power Coal Import and Supply Company
- Orica Australia Pty. Ltd.
- Xindia Steels Limited - India
- Attock Cement Pakistan Limited
- International Coal Ventures Pvt Ltd - India
- Posco Energy - South Korea
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Savvy Resources Ltd - HongKong
- Minerals Council of Australia
- Chamber of Mines of South Africa
- Sojitz Corporation - Japan
- Gujarat Electricity Regulatory Commission - India
- SN Aboitiz Power Inc, Philippines
- Heidelberg Cement - Germany
- Malabar Cements Ltd - India
- Latin American Coal - Colombia
- Parliament of New Zealand
- Star Paper Mills Limited - India
- Ministry of Transport, Egypt
- Pendopo Energi Batubara - Indonesia
- Kideco Jaya Agung - Indonesia
- Mercuria Energy - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Indonesian Coal Mining Association
- CIMB Investment Bank - Malaysia
- Bulk Trading Sa - Switzerland
- Ceylon Electricity Board - Sri Lanka
- India Bulls Power Limited - India
- Krishnapatnam Port Company Ltd. - India
- Indogreen Group - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Standard Chartered Bank - UAE
- Marubeni Corporation - India
- Central Electricity Authority - India
- Siam City Cement - Thailand
- Bhoruka Overseas - Indonesia
- Altura Mining Limited, Indonesia
- Intertek Mineral Services - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- ASAPP Information Group - India
- Miang Besar Coal Terminal - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Mjunction Services Limited - India
- Simpson Spence & Young - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Salva Resources Pvt Ltd - India
- The Treasury - Australian Government
- Offshore Bulk Terminal Pte Ltd, Singapore
- Medco Energi Mining Internasional
- Asmin Koalindo Tuhup - Indonesia
- Kaltim Prima Coal - Indonesia
- GAC Shipping (India) Pvt Ltd
- Grasim Industreis Ltd - India
- Riau Bara Harum - Indonesia
- PowerSource Philippines DevCo
- TNB Fuel Sdn Bhd - Malaysia
- Price Waterhouse Coopers - Russia
- San Jose City I Power Corp, Philippines
- Trasteel International SA, Italy
- Coastal Gujarat Power Limited - India
- Banpu Public Company Limited - Thailand
- Interocean Group of Companies - India
- Iligan Light & Power Inc, Philippines
- Eastern Energy - Thailand
- Videocon Industries ltd - India
- Anglo American - United Kingdom
- Renaissance Capital - South Africa
- Gujarat Sidhee Cement - India
- Semirara Mining and Power Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Ministry of Mines - Canada
- Gujarat Mineral Development Corp Ltd - India
- Tata Chemicals Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Global Coal Blending Company Limited - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Asia Pacific Energy Resources Ventures Inc, Philippines
- London Commodity Brokers - England
- Central Java Power - Indonesia
- Straits Asia Resources Limited - Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- Jindal Steel & Power Ltd - India
- Wilmar Investment Holdings
- AsiaOL BioFuels Corp., Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Toyota Tsusho Corporation, Japan
- MS Steel International - UAE
- Indika Energy - Indonesia
- Rashtriya Ispat Nigam Limited - India
- European Bulk Services B.V. - Netherlands
- Goldman Sachs - Singapore
- Globalindo Alam Lestari - Indonesia
- Uttam Galva Steels Limited - India
- GVK Power & Infra Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Bharathi Cement Corporation - India
- Aboitiz Power Corporation - Philippines
- Mintek Dendrill Indonesia
- Dalmia Cement Bharat India
- Kumho Petrochemical, South Korea
- Tamil Nadu electricity Board
- Maheswari Brothers Coal Limited - India
- Electricity Generating Authority of Thailand
- IHS Mccloskey Coal Group - USA
- Samtan Co., Ltd - South Korea
- Neyveli Lignite Corporation Ltd, - India
- White Energy Company Limited
- Billiton Holdings Pty Ltd - Australia
- Mercator Lines Limited - India
- Borneo Indobara - Indonesia
- OPG Power Generation Pvt Ltd - India
- Carbofer General Trading SA - India
- Larsen & Toubro Limited - India
- Bhushan Steel Limited - India
- Cement Manufacturers Association - India
- Indian Energy Exchange, India
- Metalloyd Limited - United Kingdom
- Sree Jayajothi Cements Limited - India
- Romanian Commodities Exchange
- Edison Trading Spa - Italy
- Bayan Resources Tbk. - Indonesia
- Kepco SPC Power Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- Siam City Cement PLC, Thailand
- The State Trading Corporation of India Ltd
- Coalindo Energy - Indonesia
- Bukit Baiduri Energy - Indonesia
- Bukit Makmur.PT - Indonesia
- Economic Council, Georgia
- Vizag Seaport Private Limited - India
- IEA Clean Coal Centre - UK
- Holcim Trading Pte Ltd - Singapore
- Petron Corporation, Philippines
- Barasentosa Lestari - Indonesia
- Oldendorff Carriers - Singapore
|
| |
| |
|
