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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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Wednesday, 20 July 11
ANTWERP RECEIVES THE CAPESIZE MG COURAGE
The deepening of the Western Scheldt has made the port of Antwerp easily accessible not only to Ultra Large Container Ships of over 10,000 TEU but a ...
Wednesday, 20 July 11
KALIMANTAN GOLD APPOINTS COMMISSIONER TO SUBSIDIARY
Kalimantan Gold Corporation Limited has announced the appointment of Dr. Bambang Setiawan as Commissioner (a senior advisor) to the Board of PT Kali ...
Wednesday, 20 July 11
CHALLENGER GETS TABANG PROJECT IUP PERMIT
COALspot.com - Challenger Deep Resources Corporation has been getting exploration permit or Izin Usaha Pertambangan (IUP) for its Tabang coal in Eas ...
Wednesday, 20 July 11
TCM COAL PROJECT IN SOUTH KALIMANTAN MOVES TO FINAL FEASIBILITY STUDY
COALspot.com - Pan Asia Corporation Ltd has executed a formal agreement with an underground mining group KOPEX to undertake a final feasibilit ...
Wednesday, 20 July 11
DRY BULK MARKET KEEPS ON FALLING ON SOFTENING CONDITIONS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market retreated to lower ground on Tuesday, as the industry’s benchmark, the BDI (Baltic Dry Index) fell to 1,330 points, down b ...
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- Kalimantan Lumbung Energi - Indonesia
- Barasentosa Lestari - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Mercuria Energy - Indonesia
- Mintek Dendrill Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- PNOC Exploration Corporation - Philippines
- Globalindo Alam Lestari - Indonesia
- Siam City Cement - Thailand
- Jorong Barutama Greston.PT - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Rio Tinto Coal - Australia
- Ambuja Cements Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Iligan Light & Power Inc, Philippines
- Semirara Mining and Power Corporation, Philippines
- Videocon Industries ltd - India
- Sree Jayajothi Cements Limited - India
- Carbofer General Trading SA - India
- Ministry of Transport, Egypt
- Neyveli Lignite Corporation Ltd, - India
- Gujarat Sidhee Cement - India
- Romanian Commodities Exchange
- Trasteel International SA, Italy
- Kaltim Prima Coal - Indonesia
- Mercator Lines Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Bukit Makmur.PT - Indonesia
- Karaikal Port Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Makarim & Taira - Indonesia
- Madhucon Powers Ltd - India
- Georgia Ports Authority, United States
- European Bulk Services B.V. - Netherlands
- Leighton Contractors Pty Ltd - Australia
- Latin American Coal - Colombia
- Thai Mozambique Logistica
- Straits Asia Resources Limited - Singapore
- Anglo American - United Kingdom
- Miang Besar Coal Terminal - Indonesia
- Therma Luzon, Inc, Philippines
- Bulk Trading Sa - Switzerland
- Vijayanagar Sugar Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Uttam Galva Steels Limited - India
- Medco Energi Mining Internasional
- Dalmia Cement Bharat India
- Ministry of Finance - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Thiess Contractors Indonesia
- GMR Energy Limited - India
- Billiton Holdings Pty Ltd - Australia
- ASAPP Information Group - India
- South Luzon Thermal Energy Corporation
- Holcim Trading Pte Ltd - Singapore
- Malabar Cements Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Jindal Steel & Power Ltd - India
- Baramulti Group, Indonesia
- TeaM Sual Corporation - Philippines
- Savvy Resources Ltd - HongKong
- Star Paper Mills Limited - India
- Global Coal Blending Company Limited - Australia
- Lanco Infratech Ltd - India
- Marubeni Corporation - India
- Sakthi Sugars Limited - India
- Economic Council, Georgia
- The Treasury - Australian Government
- Sical Logistics Limited - India
- Bhushan Steel Limited - India
- Orica Mining Services - Indonesia
- Grasim Industreis Ltd - India
- Energy Link Ltd, New Zealand
- Directorate Of Revenue Intelligence - India
- International Coal Ventures Pvt Ltd - India
- India Bulls Power Limited - India
- Bayan Resources Tbk. - Indonesia
- Borneo Indobara - Indonesia
- Vedanta Resources Plc - India
- Posco Energy - South Korea
- Wood Mackenzie - Singapore
- Independent Power Producers Association of India
- Salva Resources Pvt Ltd - India
- The University of Queensland
- Kepco SPC Power Corporation, Philippines
- Deloitte Consulting - India
- GN Power Mariveles Coal Plant, Philippines
- The State Trading Corporation of India Ltd
- ICICI Bank Limited - India
- IHS Mccloskey Coal Group - USA
- Asmin Koalindo Tuhup - Indonesia
- Eastern Coal Council - USA
- Orica Australia Pty. Ltd.
- PetroVietnam Power Coal Import and Supply Company
- VISA Power Limited - India
- Commonwealth Bank - Australia
- Semirara Mining Corp, Philippines
- IEA Clean Coal Centre - UK
- Indonesian Coal Mining Association
- MS Steel International - UAE
- Central Electricity Authority - India
- Tamil Nadu electricity Board
- Aditya Birla Group - India
- PowerSource Philippines DevCo
- Bahari Cakrawala Sebuku - Indonesia
- Kobexindo Tractors - Indoneisa
- Simpson Spence & Young - Indonesia
- Altura Mining Limited, Indonesia
- CNBM International Corporation - China
- Sojitz Corporation - Japan
- Mjunction Services Limited - India
- Parry Sugars Refinery, India
- CIMB Investment Bank - Malaysia
- Kohat Cement Company Ltd. - Pakistan
- Aboitiz Power Corporation - Philippines
- PTC India Limited - India
- Price Waterhouse Coopers - Russia
- Samtan Co., Ltd - South Korea
- Sinarmas Energy and Mining - Indonesia
- Electricity Authority, New Zealand
- SN Aboitiz Power Inc, Philippines
- GVK Power & Infra Limited - India
- Renaissance Capital - South Africa
- Binh Thuan Hamico - Vietnam
- Central Java Power - Indonesia
- Bhoruka Overseas - Indonesia
- Sarangani Energy Corporation, Philippines
- Singapore Mercantile Exchange
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- SMG Consultants - Indonesia
- Bharathi Cement Corporation - India
- Ceylon Electricity Board - Sri Lanka
- Chettinad Cement Corporation Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Essar Steel Hazira Ltd - India
- Attock Cement Pakistan Limited
- Merrill Lynch Commodities Europe
- Edison Trading Spa - Italy
- Indian Energy Exchange, India
- Energy Development Corp, Philippines
- LBH Netherlands Bv - Netherlands
- Kartika Selabumi Mining - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Rashtriya Ispat Nigam Limited - India
- AsiaOL BioFuels Corp., Philippines
- GAC Shipping (India) Pvt Ltd
- Indogreen Group - Indonesia
- Indian Oil Corporation Limited
- Toyota Tsusho Corporation, Japan
- Kapuas Tunggal Persada - Indonesia
- Larsen & Toubro Limited - India
- Cement Manufacturers Association - India
- Pendopo Energi Batubara - Indonesia
- Australian Coal Association
- Kumho Petrochemical, South Korea
- McConnell Dowell - Australia
- Port Waratah Coal Services - Australia
- San Jose City I Power Corp, Philippines
- Manunggal Multi Energi - Indonesia
- Interocean Group of Companies - India
- Bangladesh Power Developement Board
- Coastal Gujarat Power Limited - India
- Riau Bara Harum - Indonesia
- Coal and Oil Company - UAE
- Chamber of Mines of South Africa
- Meenaskhi Energy Private Limited - India
- Metalloyd Limited - United Kingdom
- Coalindo Energy - Indonesia
- Standard Chartered Bank - UAE
- Xindia Steels Limited - India
- Oldendorff Carriers - Singapore
- White Energy Company Limited
- SMC Global Power, Philippines
- Jaiprakash Power Ventures ltd
- Siam City Cement PLC, Thailand
- Wilmar Investment Holdings
- Global Green Power PLC Corporation, Philippines
- Formosa Plastics Group - Taiwan
- Antam Resourcindo - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Maheswari Brothers Coal Limited - India
- Gujarat Electricity Regulatory Commission - India
- Maharashtra Electricity Regulatory Commission - India
- Petron Corporation, Philippines
- New Zealand Coal & Carbon
- Planning Commission, India
- Australian Commodity Traders Exchange
- Africa Commodities Group - South Africa
- Bhatia International Limited - India
- Ministry of Mines - Canada
- Intertek Mineral Services - Indonesia
- Minerals Council of Australia
- Banpu Public Company Limited - Thailand
- Electricity Generating Authority of Thailand
- Bukit Asam (Persero) Tbk - Indonesia
- Indo Tambangraya Megah - Indonesia
- Ind-Barath Power Infra Limited - India
- Global Business Power Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- Agrawal Coal Company - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Goldman Sachs - Singapore
- OPG Power Generation Pvt Ltd - India
- Heidelberg Cement - Germany
- Power Finance Corporation Ltd., India
- Indika Energy - Indonesia
- Tata Chemicals Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Timah Investasi Mineral - Indoneisa
- Vizag Seaport Private Limited - India
- Parliament of New Zealand
- Eastern Energy - Thailand
- Meralco Power Generation, Philippines
- London Commodity Brokers - England
- Bukit Baiduri Energy - Indonesia
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