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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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Friday, 05 August 11
THE WORLDS LARGEST COAL MINER TO INVEST IN INDO MINES
COALspot.com - Golden Energy Mines (GEMS) might go for initial public offering (IPO) by the end of September 2011. The company is planning to off lo ...
Friday, 05 August 11
DRY BULK MARKET FINALLY TAKES A BREATHER - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market at last caught a break mid-week after a constant fall which saw the industry’s benchmark, the BDI (Baltic Dry Index) falli ...
Thursday, 04 August 11
THE HBA CONTINUES TO FALL IN AUGUST
COALspot.com - Ministry of Energy and Mineral Resources of Indonesia has set the August 2011 coal reference price at US$ 117.21 per ton slightly low ...
Wednesday, 03 August 11
DEWA RETURNS TO US$2.65 MIO NET PROFIT - INSIDER STORIES
Coal mining contractor PT Darma Henwa Tbk (DEWA), that most of its revenue is contributed by Kaltim Prima Coal and Arutmin Indonesia, returned to ne ...
Wednesday, 03 August 11
DRY BULK MARKET SINKS TO THREE-MONTH LOWS, BUT CAPESIZES COULD TURN THINGS AROUND - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market kept on falling this week, on the back of slow cargo demand amid the summer season. Yesterday, the BDI (Baltic Dry Index), the i ...
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- Ministry of Mines - Canada
- Mercuria Energy - Indonesia
- Salva Resources Pvt Ltd - India
- Simpson Spence & Young - Indonesia
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- Kumho Petrochemical, South Korea
- Global Green Power PLC Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Latin American Coal - Colombia
- CIMB Investment Bank - Malaysia
- Parliament of New Zealand
- San Jose City I Power Corp, Philippines
- Samtan Co., Ltd - South Korea
- GMR Energy Limited - India
- IHS Mccloskey Coal Group - USA
- Gujarat Sidhee Cement - India
- Vedanta Resources Plc - India
- Ind-Barath Power Infra Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Chettinad Cement Corporation Ltd - India
- Kaltim Prima Coal - Indonesia
- International Coal Ventures Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- SMC Global Power, Philippines
- Mjunction Services Limited - India
- Energy Development Corp, Philippines
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- Central Electricity Authority - India
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- Alfred C Toepfer International GmbH - Germany
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- Rio Tinto Coal - Australia
- Indian Energy Exchange, India
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- Sical Logistics Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Coalindo Energy - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Neyveli Lignite Corporation Ltd, - India
- Central Java Power - Indonesia
- Power Finance Corporation Ltd., India
- Holcim Trading Pte Ltd - Singapore
- Banpu Public Company Limited - Thailand
- Gujarat Electricity Regulatory Commission - India
- Borneo Indobara - Indonesia
- Kartika Selabumi Mining - Indonesia
- Energy Link Ltd, New Zealand
- CNBM International Corporation - China
- Ministry of Finance - Indonesia
- Vizag Seaport Private Limited - India
- India Bulls Power Limited - India
- Indonesian Coal Mining Association
- Rashtriya Ispat Nigam Limited - India
- Edison Trading Spa - Italy
- Leighton Contractors Pty Ltd - Australia
- Australian Coal Association
- Heidelberg Cement - Germany
- Eastern Energy - Thailand
- Global Business Power Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- Bukit Baiduri Energy - Indonesia
- Jindal Steel & Power Ltd - India
- Coal and Oil Company - UAE
- Bulk Trading Sa - Switzerland
- Directorate Of Revenue Intelligence - India
- Petron Corporation, Philippines
- The State Trading Corporation of India Ltd
- SMG Consultants - Indonesia
- Orica Mining Services - Indonesia
- Georgia Ports Authority, United States
- MS Steel International - UAE
- Uttam Galva Steels Limited - India
- Maheswari Brothers Coal Limited - India
- Krishnapatnam Port Company Ltd. - India
- Thai Mozambique Logistica
- Siam City Cement - Thailand
- The Treasury - Australian Government
- New Zealand Coal & Carbon
- Makarim & Taira - Indonesia
- Bangladesh Power Developement Board
- Goldman Sachs - Singapore
- Global Coal Blending Company Limited - Australia
- Baramulti Group, Indonesia
- OPG Power Generation Pvt Ltd - India
- Karaikal Port Pvt Ltd - India
- McConnell Dowell - Australia
- Indika Energy - Indonesia
- Indogreen Group - Indonesia
- Larsen & Toubro Limited - India
- Pendopo Energi Batubara - Indonesia
- Videocon Industries ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Romanian Commodities Exchange
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kohat Cement Company Ltd. - Pakistan
- White Energy Company Limited
- Oldendorff Carriers - Singapore
- Mintek Dendrill Indonesia
- Bhushan Steel Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Merrill Lynch Commodities Europe
- Agrawal Coal Company - India
- Ministry of Transport, Egypt
- LBH Netherlands Bv - Netherlands
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sarangani Energy Corporation, Philippines
- Price Waterhouse Coopers - Russia
- Marubeni Corporation - India
- Bahari Cakrawala Sebuku - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Parry Sugars Refinery, India
- Intertek Mineral Services - Indonesia
- Standard Chartered Bank - UAE
- Ceylon Electricity Board - Sri Lanka
- Therma Luzon, Inc, Philippines
- Lanco Infratech Ltd - India
- Sakthi Sugars Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Electricity Generating Authority of Thailand
- Miang Besar Coal Terminal - Indonesia
- Bhatia International Limited - India
- Africa Commodities Group - South Africa
- Semirara Mining and Power Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- Medco Energi Mining Internasional
- TNB Fuel Sdn Bhd - Malaysia
- Riau Bara Harum - Indonesia
- Aboitiz Power Corporation - Philippines
- Minerals Council of Australia
- PowerSource Philippines DevCo
- Bukit Makmur.PT - Indonesia
- Renaissance Capital - South Africa
- Dalmia Cement Bharat India
- Siam City Cement PLC, Thailand
- Wood Mackenzie - Singapore
- Indo Tambangraya Megah - Indonesia
- Sindya Power Generating Company Private Ltd
- Offshore Bulk Terminal Pte Ltd, Singapore
- Jaiprakash Power Ventures ltd
- The University of Queensland
- Orica Australia Pty. Ltd.
- Commonwealth Bank - Australia
- Bayan Resources Tbk. - Indonesia
- Anglo American - United Kingdom
- Essar Steel Hazira Ltd - India
- Binh Thuan Hamico - Vietnam
- Wilmar Investment Holdings
- South Luzon Thermal Energy Corporation
- Toyota Tsusho Corporation, Japan
- Grasim Industreis Ltd - India
- Barasentosa Lestari - Indonesia
- Carbofer General Trading SA - India
- Posco Energy - South Korea
- Star Paper Mills Limited - India
- Tata Chemicals Ltd - India
- Sojitz Corporation - Japan
- Altura Mining Limited, Indonesia
- Coastal Gujarat Power Limited - India
- Meralco Power Generation, Philippines
- Bharathi Cement Corporation - India
- PNOC Exploration Corporation - Philippines
- Trasteel International SA, Italy
- Economic Council, Georgia
- Thiess Contractors Indonesia
- Ambuja Cements Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Jorong Barutama Greston.PT - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Timah Investasi Mineral - Indoneisa
- Eastern Coal Council - USA
- Globalindo Alam Lestari - Indonesia
- Savvy Resources Ltd - HongKong
- Tamil Nadu electricity Board
- Planning Commission, India
- Australian Commodity Traders Exchange
- Kobexindo Tractors - Indoneisa
- ICICI Bank Limited - India
- Kideco Jaya Agung - Indonesia
- Chamber of Mines of South Africa
- Bhoruka Overseas - Indonesia
- Straits Asia Resources Limited - Singapore
- Asmin Koalindo Tuhup - Indonesia
- Malabar Cements Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Indian Oil Corporation Limited
- Independent Power Producers Association of India
- Semirara Mining Corp, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Attock Cement Pakistan Limited
- Vijayanagar Sugar Pvt Ltd - India
- PTC India Limited - India
- Electricity Authority, New Zealand
- European Bulk Services B.V. - Netherlands
- VISA Power Limited - India
- Iligan Light & Power Inc, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- SN Aboitiz Power Inc, Philippines
- London Commodity Brokers - England
- Port Waratah Coal Services - Australia
- Antam Resourcindo - Indonesia
- Formosa Plastics Group - Taiwan
- GVK Power & Infra Limited - India
- Sinarmas Energy and Mining - Indonesia
- Meenaskhi Energy Private Limited - India
- Cement Manufacturers Association - India
- Singapore Mercantile Exchange
- ASAPP Information Group - India
- IEA Clean Coal Centre - UK
- TeaM Sual Corporation - Philippines
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