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Saturday, 13 August 11
GMR HAS ENTERED INTO CSPA WITH GEMS TO ACQUIRE 30% STAKE
COALspot.com - GMR Infrastructure Investments (Singapore) Pte Ltd, a subsidiary of GMR Infrastructure, has signed conditional sale and purchase agreement (CSPA) to acquire a 30 percent stake in PT Golden Energy Mines, a subsidiary of PT Dian Swastatika Sentosa Tbk (DSSA) on 11 August 2011.
This transaction is subject to the fulfillment of several conditions and is expected to close in calendar 2011, including but not limited to the approvals of the general meeting of the shareholders and the listing of GEMS’s shares in the Indonesian Stock Exchange, said Hermawan Tarjono, corporate secretary of DSSA, when interviewed by COALspot.com.
The acquisition value is in the range of USD 450 million to USD 550 million. The value can be anticipated only while nearing to the transaction closing. The transaction will be closed once the GEMS’s shares are listed in Indonesian stock exchange and the IPO which is expected around fourth quarter of the year. The 30% share purchase will be done by combination of strategic sale and IPO purchase which is under negotiation, according to Hermawan Tarjono.
Once the transaction is closed, GMR will participate in the GEMS’s Management as the GEMS is proliferating and becomes more professionally managed, he added.
GEMS, a subsidiary of PT Dian Swastatika Sentosa Tbk (DSSA), owns four producing and six non-producing thermal coal concessions in Sumatra, South Kalimantan and Central Kalimantan.
GEMS is targeting to produce 6-8 million tonnes of coal this year
GMR Infrastructure Ltd has already invested in a coal mine located in South Sumatra. The company brought PT Barasentosa Lestari (PT BSL) early 2009 for around US$ 80 million. The mine is estimate to have reserves of 100 million tonnes.
To contact the reporter responsible on this story - Efendi at efendi@coalspot.com
Translated by - WB
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Saturday, 10 September 11
THE FREIGHT MARKET LIKELY TO BE FIRM NEXT WEEK - CAPT. REDDY
COALspot.com - The freight market continued the upward trend during last week with BDI crossing 1,800 points and closing at 1,838 points up by 5.63 ...
Friday, 09 September 11
SUPRA BARA SECURES $20 MILLION LOAN - JP
The Jakarta Post reported that, Coal miner PT Supra Bara Energi says it has secured a US$20 million loan facility from BNP Paribas to buy heavy equi ...
Friday, 09 September 11
CAPESIZE CAN SECURE USD 17-18K SHORT PERIOD - FEARNBULK
Handy
The US Gulf has remained relatively steady, slightly more activity in the South Atlantic with owners aiming for low to mid USD 20k´s f ...
Thursday, 08 September 11
UKRAINES COAL PRODUCTION TO RISE 8% - IFANDP
Industrial fuels & power reported that, Ukraine will increase its coal output by about 8% this year compared to last year, said the country&rsqu ...
Thursday, 08 September 11
DRY BULK MARKETS RALLY COMES TO AN END - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
As was widely expected by analysts and shipbrokers alike, the latest rally of the dry bulk market came to a halt yesterday, with the Baltic Dry Inde ...
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- Straits Asia Resources Limited - Singapore
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- Electricity Authority, New Zealand
- Chamber of Mines of South Africa
- Maheswari Brothers Coal Limited - India
- SMC Global Power, Philippines
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- Energy Development Corp, Philippines
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- Parliament of New Zealand
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- Petron Corporation, Philippines
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- Thiess Contractors Indonesia
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- Indonesian Coal Mining Association
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- Eastern Coal Council - USA
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- Jaiprakash Power Ventures ltd
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- Global Coal Blending Company Limited - Australia
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- Carbofer General Trading SA - India
- Merrill Lynch Commodities Europe
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- Mercator Lines Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Ceylon Electricity Board - Sri Lanka
- PetroVietnam Power Coal Import and Supply Company
- Aboitiz Power Corporation - Philippines
- The Treasury - Australian Government
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- Price Waterhouse Coopers - Russia
- Economic Council, Georgia
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- Ambuja Cements Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Bangladesh Power Developement Board
- Attock Cement Pakistan Limited
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- Medco Energi Mining Internasional
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- Karbindo Abesyapradhi - Indoneisa
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- CNBM International Corporation - China
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- Tamil Nadu electricity Board
- Intertek Mineral Services - Indonesia
- Metalloyd Limited - United Kingdom
- Directorate General of MIneral and Coal - Indonesia
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- Asia Pacific Energy Resources Ventures Inc, Philippines
- Coal and Oil Company - UAE
- Trasteel International SA, Italy
- Indogreen Group - Indonesia
- Kepco SPC Power Corporation, Philippines
- Mercuria Energy - Indonesia
- Ind-Barath Power Infra Limited - India
- Semirara Mining Corp, Philippines
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- Sojitz Corporation - Japan
- Altura Mining Limited, Indonesia
- Semirara Mining and Power Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Wilmar Investment Holdings
- Ministry of Transport, Egypt
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- SMG Consultants - Indonesia
- Leighton Contractors Pty Ltd - Australia
- CIMB Investment Bank - Malaysia
- Planning Commission, India
- LBH Netherlands Bv - Netherlands
- Edison Trading Spa - Italy
- Kartika Selabumi Mining - Indonesia
- Xindia Steels Limited - India
- PNOC Exploration Corporation - Philippines
- International Coal Ventures Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Goldman Sachs - Singapore
- Minerals Council of Australia
- Kobexindo Tractors - Indoneisa
- Kideco Jaya Agung - Indonesia
- Coalindo Energy - Indonesia
- Renaissance Capital - South Africa
- Videocon Industries ltd - India
- The State Trading Corporation of India Ltd
- Formosa Plastics Group - Taiwan
- Kumho Petrochemical, South Korea
- Bhoruka Overseas - Indonesia
- Dalmia Cement Bharat India
- GMR Energy Limited - India
- Marubeni Corporation - India
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- Meralco Power Generation, Philippines
- Sarangani Energy Corporation, Philippines
- Electricity Generating Authority of Thailand
- Essar Steel Hazira Ltd - India
- Siam City Cement PLC, Thailand
- Toyota Tsusho Corporation, Japan
- Agrawal Coal Company - India
- Chettinad Cement Corporation Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Australian Coal Association
- Baramulti Group, Indonesia
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- Interocean Group of Companies - India
- Alfred C Toepfer International GmbH - Germany
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- Salva Resources Pvt Ltd - India
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- Thai Mozambique Logistica
- Offshore Bulk Terminal Pte Ltd, Singapore
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- Orica Australia Pty. Ltd.
- Power Finance Corporation Ltd., India
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- Binh Thuan Hamico - Vietnam
- Manunggal Multi Energi - Indonesia
- Pendopo Energi Batubara - Indonesia
- Sindya Power Generating Company Private Ltd
- Barasentosa Lestari - Indonesia
- Siam City Cement - Thailand
- Kapuas Tunggal Persada - Indonesia
- Independent Power Producers Association of India
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- Bhushan Steel Limited - India
- MS Steel International - UAE
- Indian Energy Exchange, India
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- Global Business Power Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- White Energy Company Limited
- European Bulk Services B.V. - Netherlands
- Standard Chartered Bank - UAE
- Krishnapatnam Port Company Ltd. - India
- Orica Mining Services - Indonesia
- India Bulls Power Limited - India
- Bukit Makmur.PT - Indonesia
- Romanian Commodities Exchange
- OPG Power Generation Pvt Ltd - India
- Cement Manufacturers Association - India
- Vizag Seaport Private Limited - India
- Australian Commodity Traders Exchange
- Madhucon Powers Ltd - India
- Mintek Dendrill Indonesia
- VISA Power Limited - India
- Deloitte Consulting - India
- TeaM Sual Corporation - Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Singapore Mercantile Exchange
- Makarim & Taira - Indonesia
- Meenaskhi Energy Private Limited - India
- Samtan Co., Ltd - South Korea
- PowerSource Philippines DevCo
- Africa Commodities Group - South Africa
- Global Green Power PLC Corporation, Philippines
- Heidelberg Cement - Germany
- Therma Luzon, Inc, Philippines
- Wood Mackenzie - Singapore
- The University of Queensland
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