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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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Thursday, 22 December 11
RI WILL NOT PLAY CATCH-UP WITH GLOBAL COAL DEMAND - THE JAKARTA POST
The Jakarta Post reported that, the International Energy Agency (IEA) has predicted in its Coal Market Report 2011 that over the next five years, gl ...
Thursday, 22 December 11
DRY BULK MARKET KEEPS LOSING TRACTION AHEAD OF HOLIDAY SEASON - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market kept retreating in the middle of the week, as charterers seem to be looking towards the holiday season and the start of the new ye ...
Tuesday, 20 December 11
THE COAL IMPORT INTO CHINA WAS QUIETER AS COAL STOCKS WERE AT HIGH LEVELS - BRS
The BDI ended the week at 1888 points (-1.8%), the BCI corrected to 3572 (-3.4%), the BPI was up at 1,775 (+3.6%), the BSI dropped to 1193 (-3.0%) a ...
Tuesday, 20 December 11
INDIA IMPORTS 66.41 PERCENT MORE COAL FROM INDONESIA LAST MONTH - SOURCES
COALspot.com: Indonesia, the world largest coal exporter, shipped 33.476* mln mt of coal in November, which is slightly higher than its Octobe ...
Monday, 19 December 11
KOPEX COMMITS ADDITIONAL ONE MILLION DOLLAR FOR PT TRANSCOAL MINERGY
COALspot.com - Mining contractor Kopex has agreed to extend a further US$1 million to finance the remainder of the expanded drill program at PT Tran ...
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- Medco Energi Mining Internasional
- Indian Energy Exchange, India
- Energy Link Ltd, New Zealand
- Kalimantan Lumbung Energi - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- CIMB Investment Bank - Malaysia
- Agrawal Coal Company - India
- Ambuja Cements Ltd - India
- Xindia Steels Limited - India
- Sarangani Energy Corporation, Philippines
- Bhushan Steel Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Port Waratah Coal Services - Australia
- Simpson Spence & Young - Indonesia
- Bhoruka Overseas - Indonesia
- GAC Shipping (India) Pvt Ltd
- Holcim Trading Pte Ltd - Singapore
- Semirara Mining and Power Corporation, Philippines
- Central Electricity Authority - India
- Malabar Cements Ltd - India
- Bhatia International Limited - India
- Karaikal Port Pvt Ltd - India
- Makarim & Taira - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Indian Oil Corporation Limited
- Cigading International Bulk Terminal - Indonesia
- Vedanta Resources Plc - India
- PowerSource Philippines DevCo
- Romanian Commodities Exchange
- Krishnapatnam Port Company Ltd. - India
- Georgia Ports Authority, United States
- Sindya Power Generating Company Private Ltd
- Australian Commodity Traders Exchange
- Independent Power Producers Association of India
- India Bulls Power Limited - India
- Binh Thuan Hamico - Vietnam
- Siam City Cement - Thailand
- Vizag Seaport Private Limited - India
- McConnell Dowell - Australia
- Wilmar Investment Holdings
- Jindal Steel & Power Ltd - India
- Chettinad Cement Corporation Ltd - India
- Sree Jayajothi Cements Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Formosa Plastics Group - Taiwan
- Kobexindo Tractors - Indoneisa
- Sakthi Sugars Limited - India
- Singapore Mercantile Exchange
- PTC India Limited - India
- Karbindo Abesyapradhi - Indoneisa
- International Coal Ventures Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- Latin American Coal - Colombia
- Meenaskhi Energy Private Limited - India
- Petron Corporation, Philippines
- Orica Mining Services - Indonesia
- Commonwealth Bank - Australia
- Essar Steel Hazira Ltd - India
- Posco Energy - South Korea
- Savvy Resources Ltd - HongKong
- London Commodity Brokers - England
- Coalindo Energy - Indonesia
- ASAPP Information Group - India
- Therma Luzon, Inc, Philippines
- Lanco Infratech Ltd - India
- Edison Trading Spa - Italy
- PNOC Exploration Corporation - Philippines
- Bukit Baiduri Energy - Indonesia
- ICICI Bank Limited - India
- Australian Coal Association
- Bukit Makmur.PT - Indonesia
- Global Green Power PLC Corporation, Philippines
- Intertek Mineral Services - Indonesia
- Semirara Mining Corp, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- The State Trading Corporation of India Ltd
- Deloitte Consulting - India
- Sinarmas Energy and Mining - Indonesia
- The Treasury - Australian Government
- Leighton Contractors Pty Ltd - Australia
- Alfred C Toepfer International GmbH - Germany
- Standard Chartered Bank - UAE
- Tata Chemicals Ltd - India
- Antam Resourcindo - Indonesia
- Bulk Trading Sa - Switzerland
- Directorate Of Revenue Intelligence - India
- Bahari Cakrawala Sebuku - Indonesia
- Renaissance Capital - South Africa
- Ind-Barath Power Infra Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Star Paper Mills Limited - India
- Parry Sugars Refinery, India
- Indika Energy - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Toyota Tsusho Corporation, Japan
- Kumho Petrochemical, South Korea
- Bayan Resources Tbk. - Indonesia
- South Luzon Thermal Energy Corporation
- Gujarat Mineral Development Corp Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Minerals Council of Australia
- GMR Energy Limited - India
- AsiaOL BioFuels Corp., Philippines
- IEA Clean Coal Centre - UK
- Barasentosa Lestari - Indonesia
- Bharathi Cement Corporation - India
- Indogreen Group - Indonesia
- Tamil Nadu electricity Board
- Manunggal Multi Energi - Indonesia
- White Energy Company Limited
- Price Waterhouse Coopers - Russia
- Central Java Power - Indonesia
- Coastal Gujarat Power Limited - India
- Rashtriya Ispat Nigam Limited - India
- Cement Manufacturers Association - India
- Heidelberg Cement - Germany
- Larsen & Toubro Limited - India
- Sical Logistics Limited - India
- SMC Global Power, Philippines
- Interocean Group of Companies - India
- Eastern Coal Council - USA
- Marubeni Corporation - India
- Global Business Power Corporation, Philippines
- Mercuria Energy - Indonesia
- Kaltim Prima Coal - Indonesia
- GVK Power & Infra Limited - India
- Thai Mozambique Logistica
- Power Finance Corporation Ltd., India
- Baramulti Group, Indonesia
- TeaM Sual Corporation - Philippines
- Metalloyd Limited - United Kingdom
- Samtan Co., Ltd - South Korea
- Asmin Koalindo Tuhup - Indonesia
- SN Aboitiz Power Inc, Philippines
- Miang Besar Coal Terminal - Indonesia
- Economic Council, Georgia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Iligan Light & Power Inc, Philippines
- Videocon Industries ltd - India
- Parliament of New Zealand
- Ministry of Finance - Indonesia
- Uttam Galva Steels Limited - India
- Anglo American - United Kingdom
- Altura Mining Limited, Indonesia
- Madhucon Powers Ltd - India
- Merrill Lynch Commodities Europe
- Kohat Cement Company Ltd. - Pakistan
- Bangladesh Power Developement Board
- Bukit Asam (Persero) Tbk - Indonesia
- Ministry of Transport, Egypt
- Africa Commodities Group - South Africa
- Trasteel International SA, Italy
- Electricity Authority, New Zealand
- Mercator Lines Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Jaiprakash Power Ventures ltd
- Sojitz Corporation - Japan
- Thiess Contractors Indonesia
- Wood Mackenzie - Singapore
- Aboitiz Power Corporation - Philippines
- Kapuas Tunggal Persada - Indonesia
- Mintek Dendrill Indonesia
- Kartika Selabumi Mining - Indonesia
- LBH Netherlands Bv - Netherlands
- Pendopo Energi Batubara - Indonesia
- Energy Development Corp, Philippines
- Gujarat Sidhee Cement - India
- SMG Consultants - Indonesia
- Attock Cement Pakistan Limited
- TNB Fuel Sdn Bhd - Malaysia
- The University of Queensland
- Coal and Oil Company - UAE
- Timah Investasi Mineral - Indoneisa
- Maheswari Brothers Coal Limited - India
- Dalmia Cement Bharat India
- Meralco Power Generation, Philippines
- Grasim Industreis Ltd - India
- VISA Power Limited - India
- Globalindo Alam Lestari - Indonesia
- Kepco SPC Power Corporation, Philippines
- Carbofer General Trading SA - India
- Maharashtra Electricity Regulatory Commission - India
- Aditya Birla Group - India
- Mjunction Services Limited - India
- CNBM International Corporation - China
- Directorate General of MIneral and Coal - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Rio Tinto Coal - Australia
- Goldman Sachs - Singapore
- MS Steel International - UAE
- IHS Mccloskey Coal Group - USA
- Straits Asia Resources Limited - Singapore
- New Zealand Coal & Carbon
- Planning Commission, India
- Electricity Generating Authority of Thailand
- Orica Australia Pty. Ltd.
- Indonesian Coal Mining Association
- Gujarat Electricity Regulatory Commission - India
- Indo Tambangraya Megah - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- European Bulk Services B.V. - Netherlands
- Borneo Indobara - Indonesia
- OPG Power Generation Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- PetroVietnam Power Coal Import and Supply Company
- Oldendorff Carriers - Singapore
- Siam City Cement PLC, Thailand
- Eastern Energy - Thailand
- Neyveli Lignite Corporation Ltd, - India
- GN Power Mariveles Coal Plant, Philippines
- Chamber of Mines of South Africa
- Ministry of Mines - Canada
- Riau Bara Harum - Indonesia
- Salva Resources Pvt Ltd - India
- Kideco Jaya Agung - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
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