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Saturday, 22 October 11
INDONESIA'S GOLDEN ENERGY SLASHES ITS IPO PRICE - THE JAKARTA GLOBE
 The Jakarta Globe reported that, Golden Energy Mines, a coal mining company affiliated with Sinar Mas Group, lowered its target in an initial public offering planned next month to as much as $250 million, less than half the original price, due to market volatility.
The Jakarta-based company plans to sell 882.35 million shares, or a 15 percent stake, at a price range of Rp 2,300 to Rp 3,500 each. Golden Energy initially planned to sell 1.2 billion shares, or 20 percent of total shares, to raise $550 million.
The company is a unit of energy and infrastructure firm Dian Swastatika Sentosa, which will own 85 percent of Golden Energy after the initial public offering.
“Considering the volatile global market, we decided to adjust,” said Kokarjadi Chandra, president director of Sinarmas Sekuritas, the sole underwriter. He said a 15 percent share sale can generate the money Golden Energy needs for its capital expenditure.
The company will use most of the proceeds for infrastructure, working capital and an expansion of its subsidiary. Ten percent of the proceeds — or about $25 million — will go to pay off debt, valued at about $40 million and mostly owed to Dian Swastatika Sentosa, said Golden Energy president director L. Krisnan Cahya.
The bookbuilding is scheduled from Oct. 21-24, and Golden Energy will be listed on the Indonesia Stock Exchange on Nov. 11.
Golden Energy is targeting 6 million tons in coal production this year, three times higher than last year. Krisnan said production had reached 4 million tons as of September. The company expects to produce 10 million tons by 2012 and 14 million tons by 2013.
Golden Energy moved closer to its goal by opening a new pit in Kalimantan that has about 200 million tons in reserves and will produce 2.5 millions tons this year, company director Yudha Wibawa said. A new port with an annual capacity of 40 million tons, will also help with shipments.
The company expects to set aside Rp 1.36 trillion in capital expenditure up to 2016. It set Rp 501.99 billion in capital expenditure for this year, and Krisnan said it had spent about $30 million as of September. It forecasts reaching Rp 3.41 trillion in revenue this year, up from Rp 927 billion in 2010, and to make Rp 507 billion in profit, up from Rp 34 billion.
It does not plan to acquire more coal mines in the near future.
“We will focus on maximizing production in our current mines because we have quite a large reserve today,” said Krisnan, adding that the company has 849 million tons of thermal coal reserves.
Golden Energy sells most of its production to power companies and cement producers in Indonesia and abroad.
This year, the mining sector has lost 22 percent on the Indonesian Stock Exchange (IDX).
Source: The Jakarta Globe (By: Francezka Nangoy)
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Thursday, 20 October 11
BRACKEN INTERNATIONAL MINING LISTS ON FRANKFURT STOCK EXCHANGE
Press Release - Bracken International Mining (Code:1BM) listed on the Deutsche Börse’s Frankfurt Stock Exchange today at €1.00 with ...
Thursday, 20 October 11
CAPESIZES, SUPRAMAXES LEAD GAINS FOR DRY BULK MARKET - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Struggling to find additional support, but still managing to post gains, the dry bulk market has stabilized itself on higher levels again yesterday, ...
Wednesday, 19 October 11
METALLURGICAL COAL PRICES TO DROP BELOW US$240/TONNE - WOOD MACKENZIE
Wood Mackenzie Says Metallurgical Coal Prices to Drop Below US$240/tonne by Q4 2012 But Long-term Demand Fundamentals Remain Robust
Wood Mackenzi ...
Wednesday, 19 October 11
SUPRAMAX MARKET WAS VERY FIRM LAST WEEK - BRS
With all sectors contributing positively, the BDI ended the week at 2,173 points (+8.6%), its highest level so far in 2011. The BCI stood at 3,587 ( ...
Wednesday, 19 October 11
ADARO ACQUIRES BUKIT ENIM ENERGI - INSIDER STORIES
Insider Stories reported that, Coal miner PT Adaro Energy Tbk, via its subsidiary dubbed PT Alam Tri Abadi, today revealed a 46% stake takeover of a ...
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- GMR Energy Limited - India
- Metalloyd Limited - United Kingdom
- Singapore Mercantile Exchange
- ICICI Bank Limited - India
- Standard Chartered Bank - UAE
- Therma Luzon, Inc, Philippines
- Siam City Cement - Thailand
- McConnell Dowell - Australia
- PowerSource Philippines DevCo
- Kideco Jaya Agung - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Interocean Group of Companies - India
- Malabar Cements Ltd - India
- Sical Logistics Limited - India
- Manunggal Multi Energi - Indonesia
- GVK Power & Infra Limited - India
- Bukit Baiduri Energy - Indonesia
- SMC Global Power, Philippines
- Antam Resourcindo - Indonesia
- Jaiprakash Power Ventures ltd
- New Zealand Coal & Carbon
- Sojitz Corporation - Japan
- Baramulti Group, Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Tata Chemicals Ltd - India
- Meenaskhi Energy Private Limited - India
- Mjunction Services Limited - India
- Gujarat Electricity Regulatory Commission - India
- Larsen & Toubro Limited - India
- Timah Investasi Mineral - Indoneisa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Borneo Indobara - Indonesia
- White Energy Company Limited
- SMG Consultants - Indonesia
- Sakthi Sugars Limited - India
- Mercator Lines Limited - India
- Aboitiz Power Corporation - Philippines
- Economic Council, Georgia
- VISA Power Limited - India
- Samtan Co., Ltd - South Korea
- Chamber of Mines of South Africa
- Jorong Barutama Greston.PT - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Energy Development Corp, Philippines
- Holcim Trading Pte Ltd - Singapore
- AsiaOL BioFuels Corp., Philippines
- Maheswari Brothers Coal Limited - India
- Electricity Generating Authority of Thailand
- Indika Energy - Indonesia
- Parliament of New Zealand
- Simpson Spence & Young - Indonesia
- Carbofer General Trading SA - India
- Semirara Mining and Power Corporation, Philippines
- Coastal Gujarat Power Limited - India
- GAC Shipping (India) Pvt Ltd
- Ministry of Finance - Indonesia
- Bulk Trading Sa - Switzerland
- Ministry of Transport, Egypt
- Global Green Power PLC Corporation, Philippines
- Dalmia Cement Bharat India
- SN Aboitiz Power Inc, Philippines
- Lanco Infratech Ltd - India
- Iligan Light & Power Inc, Philippines
- Eastern Energy - Thailand
- Riau Bara Harum - Indonesia
- Edison Trading Spa - Italy
- Marubeni Corporation - India
- Pendopo Energi Batubara - Indonesia
- Grasim Industreis Ltd - India
- Intertek Mineral Services - Indonesia
- Planning Commission, India
- Videocon Industries ltd - India
- CNBM International Corporation - China
- Medco Energi Mining Internasional
- Offshore Bulk Terminal Pte Ltd, Singapore
- Binh Thuan Hamico - Vietnam
- Kapuas Tunggal Persada - Indonesia
- Ind-Barath Power Infra Limited - India
- Renaissance Capital - South Africa
- Sree Jayajothi Cements Limited - India
- Kartika Selabumi Mining - Indonesia
- Bukit Makmur.PT - Indonesia
- Heidelberg Cement - Germany
- Gujarat Sidhee Cement - India
- GN Power Mariveles Coal Plant, Philippines
- Cigading International Bulk Terminal - Indonesia
- Bhatia International Limited - India
- Eastern Coal Council - USA
- Orica Mining Services - Indonesia
- Port Waratah Coal Services - Australia
- Central Electricity Authority - India
- Aditya Birla Group - India
- Anglo American - United Kingdom
- Australian Commodity Traders Exchange
- Rio Tinto Coal - Australia
- Deloitte Consulting - India
- Kumho Petrochemical, South Korea
- The University of Queensland
- Wood Mackenzie - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Commonwealth Bank - Australia
- Power Finance Corporation Ltd., India
- Sarangani Energy Corporation, Philippines
- Cement Manufacturers Association - India
- Agrawal Coal Company - India
- Bhushan Steel Limited - India
- The State Trading Corporation of India Ltd
- Madhucon Powers Ltd - India
- Essar Steel Hazira Ltd - India
- The Treasury - Australian Government
- Vedanta Resources Plc - India
- Electricity Authority, New Zealand
- Coal and Oil Company - UAE
- Makarim & Taira - Indonesia
- Bayan Resources Tbk. - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- PNOC Exploration Corporation - Philippines
- TeaM Sual Corporation - Philippines
- Thai Mozambique Logistica
- IEA Clean Coal Centre - UK
- Price Waterhouse Coopers - Russia
- PTC India Limited - India
- San Jose City I Power Corp, Philippines
- Ministry of Mines - Canada
- European Bulk Services B.V. - Netherlands
- Georgia Ports Authority, United States
- Bahari Cakrawala Sebuku - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Merrill Lynch Commodities Europe
- Siam City Cement PLC, Thailand
- Meralco Power Generation, Philippines
- Formosa Plastics Group - Taiwan
- Sinarmas Energy and Mining - Indonesia
- Orica Australia Pty. Ltd.
- ASAPP Information Group - India
- Rashtriya Ispat Nigam Limited - India
- Coalindo Energy - Indonesia
- Savvy Resources Ltd - HongKong
- Gujarat Mineral Development Corp Ltd - India
- Jindal Steel & Power Ltd - India
- Ambuja Cements Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Goldman Sachs - Singapore
- Salva Resources Pvt Ltd - India
- Mintek Dendrill Indonesia
- LBH Netherlands Bv - Netherlands
- Bukit Asam (Persero) Tbk - Indonesia
- India Bulls Power Limited - India
- Oldendorff Carriers - Singapore
- Global Coal Blending Company Limited - Australia
- Kaltim Prima Coal - Indonesia
- Global Business Power Corporation, Philippines
- Central Java Power - Indonesia
- Globalindo Alam Lestari - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Neyveli Lignite Corporation Ltd, - India
- Minerals Council of Australia
- Chettinad Cement Corporation Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Bhoruka Overseas - Indonesia
- IHS Mccloskey Coal Group - USA
- Banpu Public Company Limited - Thailand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sindya Power Generating Company Private Ltd
- Bangladesh Power Developement Board
- Independent Power Producers Association of India
- Karaikal Port Pvt Ltd - India
- International Coal Ventures Pvt Ltd - India
- Romanian Commodities Exchange
- Star Paper Mills Limited - India
- Uttam Galva Steels Limited - India
- Petron Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Kobexindo Tractors - Indoneisa
- Bharathi Cement Corporation - India
- Pipit Mutiara Jaya. PT, Indonesia
- Wilmar Investment Holdings
- Mercuria Energy - Indonesia
- Indian Energy Exchange, India
- South Luzon Thermal Energy Corporation
- Directorate Of Revenue Intelligence - India
- Indian Oil Corporation Limited
- Energy Link Ltd, New Zealand
- Semirara Mining Corp, Philippines
- Altura Mining Limited, Indonesia
- Straits Asia Resources Limited - Singapore
- Vijayanagar Sugar Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- MS Steel International - UAE
- Kohat Cement Company Ltd. - Pakistan
- Kepco SPC Power Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Attock Cement Pakistan Limited
- Xindia Steels Limited - India
- Australian Coal Association
- Krishnapatnam Port Company Ltd. - India
- Trasteel International SA, Italy
- Thiess Contractors Indonesia
- Tamil Nadu electricity Board
- Indogreen Group - Indonesia
- Latin American Coal - Colombia
- Parry Sugars Refinery, India
- CIMB Investment Bank - Malaysia
- Indonesian Coal Mining Association
- Indo Tambangraya Megah - Indonesia
- OPG Power Generation Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- Barasentosa Lestari - Indonesia
- Posco Energy - South Korea
- Asia Pacific Energy Resources Ventures Inc, Philippines
- London Commodity Brokers - England
- Africa Commodities Group - South Africa
- Vizag Seaport Private Limited - India
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