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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, 23 August 11
COAL DEMAND IS REMAINED STRONG IN SPITE OF CURRENT GLOBAL ECONOMIC UNCERTAINTY - BUMI
COALspot.com - Indonesia's largest coal producer, PT Bumi Resources, Tbk (BUMI)'s sales revenue has increased to US$1.79 billion (compared with US ...
Tuesday, 23 August 11
PENRHYN COAL USING EVERGREEN ENERGYS COAL UPGRADING PROCESS
Evergreen Energy Inc has announced the successful testing results of the initial batches of Penrhyn coal using Evergreen Energy’s coal upgradi ...
Tuesday, 23 August 11
A SHARP INCREASE IN THE BDI - BRS
A sharp increase in the BDI this week, driven by the rise in Capesize rates. Overall the BDI was up 13.5% to 1,462 points on the back of a 20% surge ...
Monday, 22 August 11
INDONESIA TO BAN BELOW 5700 KCAL/KG COAL FOR EXPORT
COALspot.com - Ministry of Energy and Mineral Resources of Indonesia is in the process of drafting a regulation which is requiring mine owners ...
Monday, 22 August 11
JATENERGY AGREED TO FORM JV WITH AN INDONESIAN COAL MINING COMPANY
COALspot.com - Australian’s listed company, Jatenergy Limited has entered conditional agreement to form joint venture with Indonesia’s c ...
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- SN Aboitiz Power Inc, Philippines
- Indogreen Group - Indonesia
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- Aditya Birla Group - India
- Bukit Makmur.PT - Indonesia
- Renaissance Capital - South Africa
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- Agrawal Coal Company - India
- Mjunction Services Limited - India
- GMR Energy Limited - India
- Star Paper Mills Limited - India
- Semirara Mining Corp, Philippines
- Bulk Trading Sa - Switzerland
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- Simpson Spence & Young - Indonesia
- Sical Logistics Limited - India
- The State Trading Corporation of India Ltd
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- Indonesian Coal Mining Association
- Intertek Mineral Services - Indonesia
- Sarangani Energy Corporation, Philippines
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- Ministry of Transport, Egypt
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- Medco Energi Mining Internasional
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- AsiaOL BioFuels Corp., Philippines
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- Electricity Authority, New Zealand
- Goldman Sachs - Singapore
- Commonwealth Bank - Australia
- Bangladesh Power Developement Board
- Economic Council, Georgia
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- Xindia Steels Limited - India
- Heidelberg Cement - Germany
- Bank of Tokyo Mitsubishi UFJ Ltd
- Singapore Mercantile Exchange
- Global Green Power PLC Corporation, Philippines
- Thiess Contractors Indonesia
- SMG Consultants - Indonesia
- Mintek Dendrill Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Directorate Of Revenue Intelligence - India
- Vedanta Resources Plc - India
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- Wilmar Investment Holdings
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- Toyota Tsusho Corporation, Japan
- Edison Trading Spa - Italy
- Energy Development Corp, Philippines
- Straits Asia Resources Limited - Singapore
- Jindal Steel & Power Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Semirara Mining and Power Corporation, Philippines
- Thai Mozambique Logistica
- Offshore Bulk Terminal Pte Ltd, Singapore
- Essar Steel Hazira Ltd - India
- London Commodity Brokers - England
- Dalmia Cement Bharat India
- Malabar Cements Ltd - India
- Tamil Nadu electricity Board
- Global Coal Blending Company Limited - Australia
- Holcim Trading Pte Ltd - Singapore
- McConnell Dowell - Australia
- Jaiprakash Power Ventures ltd
- The University of Queensland
- Binh Thuan Hamico - Vietnam
- Makarim & Taira - Indonesia
- Baramulti Group, Indonesia
- Romanian Commodities Exchange
- Karbindo Abesyapradhi - Indoneisa
- Sindya Power Generating Company Private Ltd
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- New Zealand Coal & Carbon
- Indian Oil Corporation Limited
- Eastern Energy - Thailand
- Kartika Selabumi Mining - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Marubeni Corporation - India
- Kohat Cement Company Ltd. - Pakistan
- Pipit Mutiara Jaya. PT, Indonesia
- Altura Mining Limited, Indonesia
- Bharathi Cement Corporation - India
- CNBM International Corporation - China
- Meralco Power Generation, Philippines
- TeaM Sual Corporation - Philippines
- Barasentosa Lestari - Indonesia
- White Energy Company Limited
- Australian Commodity Traders Exchange
- Neyveli Lignite Corporation Ltd, - India
- Vizag Seaport Private Limited - India
- Aboitiz Power Corporation - Philippines
- Lanco Infratech Ltd - India
- Price Waterhouse Coopers - Russia
- Bukit Baiduri Energy - Indonesia
- Petron Corporation, Philippines
- Chamber of Mines of South Africa
- Karaikal Port Pvt Ltd - India
- Mercuria Energy - Indonesia
- Maheswari Brothers Coal Limited - India
- Kaltim Prima Coal - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- GVK Power & Infra Limited - India
- Coastal Gujarat Power Limited - India
- Cigading International Bulk Terminal - Indonesia
- Iligan Light & Power Inc, Philippines
- Orica Australia Pty. Ltd.
- Antam Resourcindo - Indonesia
- Miang Besar Coal Terminal - Indonesia
- India Bulls Power Limited - India
- Cement Manufacturers Association - India
- Sinarmas Energy and Mining - Indonesia
- Posco Energy - South Korea
- Madhucon Powers Ltd - India
- Siam City Cement PLC, Thailand
- Deloitte Consulting - India
- Jorong Barutama Greston.PT - Indonesia
- Eastern Coal Council - USA
- Electricity Generating Authority of Thailand
- Kumho Petrochemical, South Korea
- SMC Global Power, Philippines
- Mercator Lines Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Planning Commission, India
- Independent Power Producers Association of India
- Riau Bara Harum - Indonesia
- Indo Tambangraya Megah - Indonesia
- Samtan Co., Ltd - South Korea
- Indian Energy Exchange, India
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- Ceylon Electricity Board - Sri Lanka
- Chettinad Cement Corporation Ltd - India
- Kideco Jaya Agung - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Orica Mining Services - Indonesia
- Grasim Industreis Ltd - India
- Energy Link Ltd, New Zealand
- Parliament of New Zealand
- South Luzon Thermal Energy Corporation
- MS Steel International - UAE
- Gujarat Electricity Regulatory Commission - India
- Meenaskhi Energy Private Limited - India
- Tata Chemicals Ltd - India
- Latin American Coal - Colombia
- San Jose City I Power Corp, Philippines
- Australian Coal Association
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- Asmin Koalindo Tuhup - Indonesia
- Metalloyd Limited - United Kingdom
- Ambuja Cements Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ministry of Mines - Canada
- Oldendorff Carriers - Singapore
- Parry Sugars Refinery, India
- Manunggal Multi Energi - Indonesia
- Wood Mackenzie - Singapore
- CIMB Investment Bank - Malaysia
- OPG Power Generation Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Global Business Power Corporation, Philippines
- Therma Luzon, Inc, Philippines
- Anglo American - United Kingdom
- PetroVietnam Power Coal Import and Supply Company
- Salva Resources Pvt Ltd - India
- Coalindo Energy - Indonesia
- Carbofer General Trading SA - India
- Africa Commodities Group - South Africa
- Borneo Indobara - Indonesia
- Gujarat Sidhee Cement - India
- Georgia Ports Authority, United States
- Trasteel International SA, Italy
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sree Jayajothi Cements Limited - India
- Ministry of Finance - Indonesia
- Merrill Lynch Commodities Europe
- Savvy Resources Ltd - HongKong
- Power Finance Corporation Ltd., India
- IHS Mccloskey Coal Group - USA
- Siam City Cement - Thailand
- VISA Power Limited - India
- Indika Energy - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Port Waratah Coal Services - Australia
- GAC Shipping (India) Pvt Ltd
- Kepco SPC Power Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- LBH Netherlands Bv - Netherlands
- Coal and Oil Company - UAE
- Banpu Public Company Limited - Thailand
- Formosa Plastics Group - Taiwan
- Globalindo Alam Lestari - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Videocon Industries ltd - India
- PTC India Limited - India
- Attock Cement Pakistan Limited
- Kobexindo Tractors - Indoneisa
- Minerals Council of Australia
- European Bulk Services B.V. - Netherlands
- Sojitz Corporation - Japan
- Pendopo Energi Batubara - Indonesia
- ASAPP Information Group - India
- Sakthi Sugars Limited - India
- Standard Chartered Bank - UAE
- Rashtriya Ispat Nigam Limited - India
- Directorate General of MIneral and Coal - Indonesia
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