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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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Tuesday, 30 August 11
FAUJI CEMENT CONSUMED MORE THAN 1 MILLION TONS OF LOCAL COAL
Cooper Minerals Inc.based in Vancouver, BC, Canada, is a junior exploration company engaged in the acquisition, exploration and development of miner ...
Sunday, 28 August 11
FREIGHT MARKET COULD BE FIRM NEXT MONTH - VISTAAR
COALspot.com - The freight market continued the upward trend first half of the week . However, towards the end of the week lost momentum and the BDI ...
Saturday, 27 August 11
JAPANESE BULK CARRIER SETS RECORD ON NORTHERN SEA ROUTE - BARENTS OBSERVER
The Northern Sea Route will see its third record in less than a month when the largest ever bulk carrier to take the route leaves Murmansk next week ...
Saturday, 27 August 11
RBCT-INDIA ROUNDS FIXED AT AROUND US$ 12K - FEARNBULK
Handy
Stable but very positional markets across all segments in the Atlantic: the gap between owners and charterers rate ideas is building up as o ...
Friday, 26 August 11
TUAH TURANGGA AGUNG ACQUIRES AN ADDITIONAL 40% SHARES IN BARA PRIMA AGUNG
COALspot.com - PT Tuah Turangga Agung, a subsidiary of PT United Tractors Tbk, has signed an acquisition agreement to acquire 40% of PT Bara Prima A ...
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- Economic Council, Georgia
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- Global Coal Blending Company Limited - Australia
- Standard Chartered Bank - UAE
- Indo Tambangraya Megah - Indonesia
- Renaissance Capital - South Africa
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- Price Waterhouse Coopers - Russia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Rio Tinto Coal - Australia
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- Australian Commodity Traders Exchange
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- Orica Australia Pty. Ltd.
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- Edison Trading Spa - Italy
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- Larsen & Toubro Limited - India
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- Sojitz Corporation - Japan
- Petron Corporation, Philippines
- Meralco Power Generation, Philippines
- Commonwealth Bank - Australia
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- Bhoruka Overseas - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
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- Therma Luzon, Inc, Philippines
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- Baramulti Group, Indonesia
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- Wood Mackenzie - Singapore
- London Commodity Brokers - England
- Bayan Resources Tbk. - Indonesia
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- Xindia Steels Limited - India
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- International Coal Ventures Pvt Ltd - India
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- Alfred C Toepfer International GmbH - Germany
- Mercuria Energy - Indonesia
- TeaM Sual Corporation - Philippines
- Banpu Public Company Limited - Thailand
- GMR Energy Limited - India
- Tata Chemicals Ltd - India
- ICICI Bank Limited - India
- Ministry of Mines - Canada
- Port Waratah Coal Services - Australia
- Power Finance Corporation Ltd., India
- Sical Logistics Limited - India
- Minerals Council of Australia
- Gujarat Electricity Regulatory Commission - India
- Samtan Co., Ltd - South Korea
- Formosa Plastics Group - Taiwan
- Chamber of Mines of South Africa
- Tamil Nadu electricity Board
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- Essar Steel Hazira Ltd - India
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- Singapore Mercantile Exchange
- Ind-Barath Power Infra Limited - India
- Bulk Trading Sa - Switzerland
- Directorate General of MIneral and Coal - Indonesia
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- Eastern Energy - Thailand
- CIMB Investment Bank - Malaysia
- Bahari Cakrawala Sebuku - Indonesia
- Videocon Industries ltd - India
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- The University of Queensland
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- Holcim Trading Pte Ltd - Singapore
- Bukit Makmur.PT - Indonesia
- IHS Mccloskey Coal Group - USA
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- Goldman Sachs - Singapore
- Ministry of Finance - Indonesia
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- Thai Mozambique Logistica
- Binh Thuan Hamico - Vietnam
- Maharashtra Electricity Regulatory Commission - India
- IEA Clean Coal Centre - UK
- Romanian Commodities Exchange
- Miang Besar Coal Terminal - Indonesia
- Timah Investasi Mineral - Indoneisa
- Globalindo Alam Lestari - Indonesia
- Rashtriya Ispat Nigam Limited - India
- McConnell Dowell - Australia
- Africa Commodities Group - South Africa
- Directorate Of Revenue Intelligence - India
- Jaiprakash Power Ventures ltd
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- Barasentosa Lestari - Indonesia
- Borneo Indobara - Indonesia
- Indian Energy Exchange, India
- Bukit Baiduri Energy - Indonesia
- Ceylon Electricity Board - Sri Lanka
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- Metalloyd Limited - United Kingdom
- Indian Oil Corporation Limited
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