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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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Thursday, 14 July 11
INDO GOVT. SETS JULY COAL REFERENCE PRICE AT US$ 118.24 PER TON
COALspot.com - The Ministry of Energy & Mineral Resources of Indonesia sets coal spot price benchmark for July 2011 at US$ 118.24 per ton, US$ 0 ...
Thursday, 14 July 11
DRY BULK MARKET KEEPS FALLING ON WEAK CAPESIZE SENTIMENT - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market kept on retreating on Wednesday, with the Baltic Dry Index (BDI) falling to 1,383 points, from 1,411 of the previous day. Capesi ...
Thursday, 14 July 11
UNITED TRACTORS BUYS DUTA SEJAHTERA - INSIDER STORIES
Insider Stories reported that, PT United Tractors Tbk (UNTR), via a wholly-owned subsidiary PT Tuah Turangga Agung, will acquire PT Duta Sejahtera a ...
Wednesday, 13 July 11
ANOTHER FIRMER WEEK FOR THE CAPES - BRS
Barry Rogliano Salles reported that, there were mixed results for the dry bulk market this week: the Capesize and Panamax markets performed well gai ...
Tuesday, 12 July 11
INDONESIAN MINERS PLAN $70M INVESTMENT TO UPGRADE QUALITY OF COAL - THE JAKARTA GLOBE
One of the leading english language news paper in indonesia, the Jakarta globe reported that, as the government implements a ban on the export of po ...
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- White Energy Company Limited
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- Edison Trading Spa - Italy
- Commonwealth Bank - Australia
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- Ambuja Cements Ltd - India
- Formosa Plastics Group - Taiwan
- Economic Council, Georgia
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- Oldendorff Carriers - Singapore
- Georgia Ports Authority, United States
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- Borneo Indobara - Indonesia
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- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Power Finance Corporation Ltd., India
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- The University of Queensland
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- India Bulls Power Limited - India
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- Thiess Contractors Indonesia
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- PowerSource Philippines DevCo
- European Bulk Services B.V. - Netherlands
- Directorate General of MIneral and Coal - Indonesia
- Coastal Gujarat Power Limited - India
- PNOC Exploration Corporation - Philippines
- Kaltim Prima Coal - Indonesia
- Jorong Barutama Greston.PT - Indonesia
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- Latin American Coal - Colombia
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- Petron Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- Tata Chemicals Ltd - India
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- Kideco Jaya Agung - Indonesia
- Rashtriya Ispat Nigam Limited - India
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- Indika Energy - Indonesia
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- Energy Link Ltd, New Zealand
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- Baramulti Group, Indonesia
- Toyota Tsusho Corporation, Japan
- Parliament of New Zealand
- PetroVietnam Power Coal Import and Supply Company
- Electricity Generating Authority of Thailand
- ASAPP Information Group - India
- Miang Besar Coal Terminal - Indonesia
- Eastern Energy - Thailand
- Electricity Authority, New Zealand
- Bharathi Cement Corporation - India
- Bukit Makmur.PT - Indonesia
- Straits Asia Resources Limited - Singapore
- Mjunction Services Limited - India
- Renaissance Capital - South Africa
- Ministry of Transport, Egypt
- Sical Logistics Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- IEA Clean Coal Centre - UK
- Chamber of Mines of South Africa
- Orica Australia Pty. Ltd.
- Deloitte Consulting - India
- Singapore Mercantile Exchange
- ICICI Bank Limited - India
- Pendopo Energi Batubara - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Malabar Cements Ltd - India
- San Jose City I Power Corp, Philippines
- Siam City Cement - Thailand
- Holcim Trading Pte Ltd - Singapore
- Iligan Light & Power Inc, Philippines
- Minerals Council of Australia
- Wilmar Investment Holdings
- GMR Energy Limited - India
- Salva Resources Pvt Ltd - India
- PTC India Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- Australian Coal Association
- Price Waterhouse Coopers - Russia
- Carbofer General Trading SA - India
- Ministry of Mines - Canada
- Australian Commodity Traders Exchange
- MS Steel International - UAE
- SMC Global Power, Philippines
- Sinarmas Energy and Mining - Indonesia
- Thai Mozambique Logistica
- Riau Bara Harum - Indonesia
- Bayan Resources Tbk. - Indonesia
- Indonesian Coal Mining Association
- Binh Thuan Hamico - Vietnam
- Global Business Power Corporation, Philippines
- Eastern Coal Council - USA
- Karbindo Abesyapradhi - Indoneisa
- Simpson Spence & Young - Indonesia
- TeaM Sual Corporation - Philippines
- Marubeni Corporation - India
- LBH Netherlands Bv - Netherlands
- The Treasury - Australian Government
- Xindia Steels Limited - India
- GVK Power & Infra Limited - India
- Parry Sugars Refinery, India
- New Zealand Coal & Carbon
- Manunggal Multi Energi - Indonesia
- Africa Commodities Group - South Africa
- Global Coal Blending Company Limited - Australia
- Coal and Oil Company - UAE
- Lanco Infratech Ltd - India
- Rio Tinto Coal - Australia
- Meenaskhi Energy Private Limited - India
- Intertek Mineral Services - Indonesia
- Bangladesh Power Developement Board
- Posco Energy - South Korea
- Meralco Power Generation, Philippines
- Bhoruka Overseas - Indonesia
- Vedanta Resources Plc - India
- SMG Consultants - Indonesia
- OPG Power Generation Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- Heidelberg Cement - Germany
- Kapuas Tunggal Persada - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Vizag Seaport Private Limited - India
- Energy Development Corp, Philippines
- Essar Steel Hazira Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Ind-Barath Power Infra Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Central Electricity Authority - India
- Videocon Industries ltd - India
- Indian Oil Corporation Limited
- Jaiprakash Power Ventures ltd
- GN Power Mariveles Coal Plant, Philippines
- Planning Commission, India
- Bulk Trading Sa - Switzerland
- VISA Power Limited - India
- Merrill Lynch Commodities Europe
- Pipit Mutiara Jaya. PT, Indonesia
- McConnell Dowell - Australia
- International Coal Ventures Pvt Ltd - India
- Makarim & Taira - Indonesia
- Anglo American - United Kingdom
- Barasentosa Lestari - Indonesia
- Sojitz Corporation - Japan
- Tamil Nadu electricity Board
- Savvy Resources Ltd - HongKong
- Bukit Baiduri Energy - Indonesia
- Metalloyd Limited - United Kingdom
- Kohat Cement Company Ltd. - Pakistan
- Trasteel International SA, Italy
- South Luzon Thermal Energy Corporation
- Timah Investasi Mineral - Indoneisa
- Grasim Industreis Ltd - India
- IHS Mccloskey Coal Group - USA
- Dalmia Cement Bharat India
- Goldman Sachs - Singapore
- Wood Mackenzie - Singapore
- Larsen & Toubro Limited - India
- Cement Manufacturers Association - India
- Jindal Steel & Power Ltd - India
- Madhucon Powers Ltd - India
- Indian Energy Exchange, India
- CIMB Investment Bank - Malaysia
- TNB Fuel Sdn Bhd - Malaysia
- Uttam Galva Steels Limited - India
- Maheswari Brothers Coal Limited - India
- Mercuria Energy - Indonesia
- Independent Power Producers Association of India
- CNBM International Corporation - China
- Kepco SPC Power Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- Attock Cement Pakistan Limited
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ministry of Finance - Indonesia
- Kartika Selabumi Mining - Indonesia
- The State Trading Corporation of India Ltd
- Billiton Holdings Pty Ltd - Australia
- Semirara Mining Corp, Philippines
- Agrawal Coal Company - India
- Gujarat Electricity Regulatory Commission - India
- Kumho Petrochemical, South Korea
- Sakthi Sugars Limited - India
- Indo Tambangraya Megah - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Directorate Of Revenue Intelligence - India
- Coalindo Energy - Indonesia
- London Commodity Brokers - England
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