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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, 12 July 11
DRY BULK MARKET BEGINS WEEK ON RETREAT MODE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
As was evident by the end of the previous week, the dry bulk market’s growth momentum was about to lose steam, something proven yesterday, whe ...
Monday, 11 July 11
REFLECTIONS ON THE FLEET REACHING ONE BILLION TONNES - CLARKSONS / HELLENIC SHIPPING
“A billion gross tonnes of shipping” has a nice ring to it. It presents the industry as a business of substance, with its 85,000 ships w ...
Sunday, 10 July 11
UNTR PROVIDES US$100 MIO TO TTA - INSIDER STORIES
PT United Tractors Tbk (UNTR) agreed to allocate US$100 million to its coal subsidiary dubbed PT Tuah Turangga Agung (TTA).The US$100 million was pa ...
Sunday, 10 July 11
HARDLY ANY CARGO FROM WC INDIA UNTIL END OF MONSOONS - VISTAAR
COALspot.com - The BDI continued to hold last week and firmed up by 27 points with cape and panama index supporting the BDI.
The BDI closed at 1, ...
Sunday, 10 July 11
PTBA INCREASES SHARES IN COAL TRAIN PROJECT - TEMPO INTERACTIVE
TEMPO Interactive reported that, PT Tambang Batubara Bukit Asam (PTBA) is still studying the plan to buy 20 percent of shares in the PT Bukit Asam T ...
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- International Coal Ventures Pvt Ltd - India
- Vedanta Resources Plc - India
- Chamber of Mines of South Africa
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- Asmin Koalindo Tuhup - Indonesia
- Mercuria Energy - Indonesia
- LBH Netherlands Bv - Netherlands
- Ministry of Transport, Egypt
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- Australian Commodity Traders Exchange
- Iligan Light & Power Inc, Philippines
- Star Paper Mills Limited - India
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- Orica Australia Pty. Ltd.
- Therma Luzon, Inc, Philippines
- MS Steel International - UAE
- Indian Energy Exchange, India
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- Pipit Mutiara Jaya. PT, Indonesia
- Bukit Makmur.PT - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Renaissance Capital - South Africa
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- Kalimantan Lumbung Energi - Indonesia
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- Ind-Barath Power Infra Limited - India
- Borneo Indobara - Indonesia
- IHS Mccloskey Coal Group - USA
- The University of Queensland
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- Electricity Authority, New Zealand
- SMG Consultants - Indonesia
- Price Waterhouse Coopers - Russia
- Dalmia Cement Bharat India
- Bhoruka Overseas - Indonesia
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- Directorate General of MIneral and Coal - Indonesia
- Economic Council, Georgia
- Malabar Cements Ltd - India
- Essar Steel Hazira Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Trasteel International SA, Italy
- Central Electricity Authority - India
- Heidelberg Cement - Germany
- Kumho Petrochemical, South Korea
- India Bulls Power Limited - India
- CIMB Investment Bank - Malaysia
- Electricity Generating Authority of Thailand
- Makarim & Taira - Indonesia
- Planning Commission, India
- Standard Chartered Bank - UAE
- Larsen & Toubro Limited - India
- The State Trading Corporation of India Ltd
- Kaltim Prima Coal - Indonesia
- Rio Tinto Coal - Australia
- Rashtriya Ispat Nigam Limited - India
- Sakthi Sugars Limited - India
- Thai Mozambique Logistica
- Central Java Power - Indonesia
- Salva Resources Pvt Ltd - India
- Mjunction Services Limited - India
- Eastern Coal Council - USA
- Eastern Energy - Thailand
- Bharathi Cement Corporation - India
- Bhushan Steel Limited - India
- Minerals Council of Australia
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- Maheswari Brothers Coal Limited - India
- Tata Chemicals Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Bayan Resources Tbk. - Indonesia
- Siam City Cement - Thailand
- Manunggal Multi Energi - Indonesia
- Indika Energy - Indonesia
- Goldman Sachs - Singapore
- Krishnapatnam Port Company Ltd. - India
- The Treasury - Australian Government
- Cigading International Bulk Terminal - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Binh Thuan Hamico - Vietnam
- Billiton Holdings Pty Ltd - Australia
- Wood Mackenzie - Singapore
- Deloitte Consulting - India
- Interocean Group of Companies - India
- Timah Investasi Mineral - Indoneisa
- New Zealand Coal & Carbon
- Savvy Resources Ltd - HongKong
- Bukit Baiduri Energy - Indonesia
- Lanco Infratech Ltd - India
- Thiess Contractors Indonesia
- Bangladesh Power Developement Board
- Ambuja Cements Ltd - India
- Samtan Co., Ltd - South Korea
- Bukit Asam (Persero) Tbk - Indonesia
- Australian Coal Association
- Altura Mining Limited, Indonesia
- Uttam Galva Steels Limited - India
- Energy Development Corp, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Siam City Cement PLC, Thailand
- Petrochimia International Co. Ltd.- Taiwan
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indo Tambangraya Megah - Indonesia
- Videocon Industries ltd - India
- Indogreen Group - Indonesia
- Barasentosa Lestari - Indonesia
- Petron Corporation, Philippines
- Parliament of New Zealand
- Ceylon Electricity Board - Sri Lanka
- Straits Asia Resources Limited - Singapore
- South Luzon Thermal Energy Corporation
- CNBM International Corporation - China
- Power Finance Corporation Ltd., India
- Xindia Steels Limited - India
- Antam Resourcindo - Indonesia
- OPG Power Generation Pvt Ltd - India
- Posco Energy - South Korea
- AsiaOL BioFuels Corp., Philippines
- Chettinad Cement Corporation Ltd - India
- Directorate Of Revenue Intelligence - India
- Wilmar Investment Holdings
- Oldendorff Carriers - Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- IEA Clean Coal Centre - UK
- Meralco Power Generation, Philippines
- Cement Manufacturers Association - India
- Madhucon Powers Ltd - India
- GMR Energy Limited - India
- GVK Power & Infra Limited - India
- Port Waratah Coal Services - Australia
- Coal and Oil Company - UAE
- Africa Commodities Group - South Africa
- SMC Global Power, Philippines
- Indian Oil Corporation Limited
- Intertek Mineral Services - Indonesia
- VISA Power Limited - India
- Edison Trading Spa - Italy
- Simpson Spence & Young - Indonesia
- Merrill Lynch Commodities Europe
- Karaikal Port Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- Vijayanagar Sugar Pvt Ltd - India
- Medco Energi Mining Internasional
- Aboitiz Power Corporation - Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Alfred C Toepfer International GmbH - Germany
- Riau Bara Harum - Indonesia
- Latin American Coal - Colombia
- Neyveli Lignite Corporation Ltd, - India
- McConnell Dowell - Australia
- PowerSource Philippines DevCo
- Sojitz Corporation - Japan
- Gujarat Mineral Development Corp Ltd - India
- Global Business Power Corporation, Philippines
- Formosa Plastics Group - Taiwan
- Toyota Tsusho Corporation, Japan
- Mintek Dendrill Indonesia
- Sical Logistics Limited - India
- Carbofer General Trading SA - India
- Georgia Ports Authority, United States
- Jindal Steel & Power Ltd - India
- Romanian Commodities Exchange
- Kartika Selabumi Mining - Indonesia
- Banpu Public Company Limited - Thailand
- Baramulti Group, Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Independent Power Producers Association of India
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- Bahari Cakrawala Sebuku - Indonesia
- SN Aboitiz Power Inc, Philippines
- Aditya Birla Group - India
- Kepco SPC Power Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Gujarat Sidhee Cement - India
- Metalloyd Limited - United Kingdom
- Vizag Seaport Private Limited - India
- Indonesian Coal Mining Association
- Bulk Trading Sa - Switzerland
- Attock Cement Pakistan Limited
- Global Coal Blending Company Limited - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- San Jose City I Power Corp, Philippines
- Mercator Lines Limited - India
- Bhatia International Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Globalindo Alam Lestari - Indonesia
- Marubeni Corporation - India
- GAC Shipping (India) Pvt Ltd
- Energy Link Ltd, New Zealand
- Semirara Mining Corp, Philippines
- London Commodity Brokers - England
- Sinarmas Energy and Mining - Indonesia
- Agrawal Coal Company - India
- Meenaskhi Energy Private Limited - India
- PTC India Limited - India
- Sarangani Energy Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ministry of Finance - Indonesia
- Jaiprakash Power Ventures ltd
- ICICI Bank Limited - India
- Kideco Jaya Agung - Indonesia
- Coalindo Energy - Indonesia
- Global Green Power PLC Corporation, Philippines
- ASAPP Information Group - India
- PetroVietnam Power Coal Import and Supply Company
- White Energy Company Limited
- Ministry of Mines - Canada
- Singapore Mercantile Exchange
- Anglo American - United Kingdom
- TeaM Sual Corporation - Philippines
- Grasim Industreis Ltd - India
- Commonwealth Bank - Australia
- Orica Mining Services - Indonesia
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