We welcome article submissions from experts in the areas of coal, mining,
shipping, etc.
To Submit your article please click here.
|
|
|
Tuesday, 01 November 11
BAKRIE FORMS STRATEGIC PARTNERSHIP WITH BORNEO - REDUCING DEBT BY USD 1 BILLION
 Press Release - Enhancing the standing of “Indonesia Inc.” at the London Stock Exchange PT Bakrie & Brothers Tbk (“BNBR” or the “Company”) is pleased to announce that as a follow up to our announcement dated 7 October 2011, the Company and another Bakrie related entity, Long Haul Holdings (“LHH” - collectively known as “Bakrie Group”), has embarked on a strategic partnership with PT Borneo Lumbung Energi & Metal Tbk (“BORN”) with the signing of a Sales and Purchase Agreement (“SPA”) which took place in Jakarta on 31 October 2011.
Under the terms of the SPA and upon completion of the transaction, Bakrie Group and BORN will own indirectly 47.6% shareholding in London listed Bumi plc, which in return owns direct and indirect investments in PT Bumi Resources Tbk, PT Berau Coal Energy Tbk and PT Bumi Resources Minerals Tbk.
The transaction is valued at USD 1 billion which values Bumi plc’s shares at approximately GBP10.91 at the date of announcement, representing a premium of:
• Approximately 46% to the closing price of Bumi plc’s shares on the LSE on 28 October 2011 and approximately 45% premium to the last 20-day volumeweighted average trading price of Bumi plc’s shares.
• Approximately 5% premium to the last 6 month volume-weighted average trading price of approximately GBP10.34
The consideration will be payable in cash and Bakrie Group will use the proceeds from the transaction to pay down a financing facility initially coordinated by CS (“CS Loan”), therefore reducing BNBR’s overall debt position considerably.
Bakrie Group expects to complete the transaction on or around the end of December 2011 following BORN shareholders approving the transaction and satisfaction of regulatory and other approvals.
“This transaction is another important step forward for the Company as it enhances our objectives for the creation of an “Indonesia Inc.” in an international mining company. The deleveraging aspect of this transaction is also important as it provides BNBR with a healthier and stronger balance sheet. Furthermore, we have again demonstrated our commitment to meet our creditors’ obligations and highly appreciate their support towards BNBR especially during these volatile market conditions,” said Bobby Gafur Umar, President Director and CEO of BNBR.
BNBR will make appropriate disclosures upon completion of all relevant documentation and approvals.
Credit Suisse assisted BNBR in a financial advisory capacity
If you believe an article violates your rights or the rights of others, please contact us.
|
|
Sunday, 23 October 11
CHINA LOOKING TO RESELL INDONESIAN COAL CARGOES - BARCLAYS
Commodity Online reported that, Anecdotal evidence has suggested that China is even looking to resell Indonesian cargoes back into the seaborne coal ...
Saturday, 22 October 11
THE SHORT-PERIOD RATES FOR PANAMAX REMAINED FIRM - CAPT. REDDY
COALspot.com - "The market seemed to slow down a bit this week, and all sectors were down by about One to five percent", said Capt. Reddy, ...
Saturday, 22 October 11
WILL THE PROPOSED 26 PERCENT PROFIT SHARING CLAUSE IN THE MINING BILL SPEED UP THE PRODUCTION OR SCARE AWAY INVESTORS? - DIPESH DIPU
A draft law has been approved by a ministerial panel headed by Finance Minister Pranab Mukherjee of India which, if passed by the Cabinet, will make ...
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 ...
Thursday, 20 October 11
CAPESIZE - TUBARAO /QINGDAO BEING FIXED AT STRONG US$ 29.75 PMT
Handy
The Atlantic market is quite steady, and market seems to be around the same levels as last week. Fewer fixtures reported though. ...
|
|
|
Showing 5016 to 5020 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Chamber of Mines of South Africa
- Interocean Group of Companies - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Attock Cement Pakistan Limited
- Carbofer General Trading SA - India
- Rio Tinto Coal - Australia
- White Energy Company Limited
- Intertek Mineral Services - Indonesia
- Medco Energi Mining Internasional
- Madhucon Powers Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Wilmar Investment Holdings
- Metalloyd Limited - United Kingdom
- Malabar Cements Ltd - India
- Antam Resourcindo - Indonesia
- Borneo Indobara - Indonesia
- Orica Australia Pty. Ltd.
- Jorong Barutama Greston.PT - Indonesia
- Standard Chartered Bank - UAE
- San Jose City I Power Corp, Philippines
- Ceylon Electricity Board - Sri Lanka
- ASAPP Information Group - India
- Sindya Power Generating Company Private Ltd
- Electricity Authority, New Zealand
- Gujarat Mineral Development Corp Ltd - India
- Eastern Coal Council - USA
- Krishnapatnam Port Company Ltd. - India
- Meralco Power Generation, Philippines
- Kaltim Prima Coal - Indonesia
- Goldman Sachs - Singapore
- Kalimantan Lumbung Energi - Indonesia
- SN Aboitiz Power Inc, Philippines
- PTC India Limited - India
- Independent Power Producers Association of India
- Uttam Galva Steels Limited - India
- Bayan Resources Tbk. - Indonesia
- Meenaskhi Energy Private Limited - India
- ICICI Bank Limited - India
- LBH Netherlands Bv - Netherlands
- Alfred C Toepfer International GmbH - Germany
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- Riau Bara Harum - Indonesia
- SMG Consultants - Indonesia
- Semirara Mining Corp, Philippines
- Samtan Co., Ltd - South Korea
- Makarim & Taira - Indonesia
- Ministry of Transport, Egypt
- Bukit Makmur.PT - Indonesia
- Agrawal Coal Company - India
- Singapore Mercantile Exchange
- Bulk Trading Sa - Switzerland
- Cigading International Bulk Terminal - Indonesia
- Parry Sugars Refinery, India
- Power Finance Corporation Ltd., India
- Ministry of Finance - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Jaiprakash Power Ventures ltd
- Kapuas Tunggal Persada - Indonesia
- Coal and Oil Company - UAE
- Global Business Power Corporation, Philippines
- Dalmia Cement Bharat India
- Wood Mackenzie - Singapore
- Bhatia International Limited - India
- GMR Energy Limited - India
- Parliament of New Zealand
- India Bulls Power Limited - India
- Grasim Industreis Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Billiton Holdings Pty Ltd - Australia
- New Zealand Coal & Carbon
- AsiaOL BioFuels Corp., Philippines
- Videocon Industries ltd - India
- PowerSource Philippines DevCo
- Rashtriya Ispat Nigam Limited - India
- Mjunction Services Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- Siam City Cement PLC, Thailand
- VISA Power Limited - India
- Maheswari Brothers Coal Limited - India
- Tata Chemicals Ltd - India
- Therma Luzon, Inc, Philippines
- Larsen & Toubro Limited - India
- Coastal Gujarat Power Limited - India
- Energy Development Corp, Philippines
- Simpson Spence & Young - Indonesia
- Mercuria Energy - Indonesia
- PNOC Exploration Corporation - Philippines
- Romanian Commodities Exchange
- The University of Queensland
- Ambuja Cements Ltd - India
- Sakthi Sugars Limited - India
- Tamil Nadu electricity Board
- Indonesian Coal Mining Association
- Deloitte Consulting - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Georgia Ports Authority, United States
- Trasteel International SA, Italy
- Eastern Energy - Thailand
- Kohat Cement Company Ltd. - Pakistan
- Timah Investasi Mineral - Indoneisa
- Kepco SPC Power Corporation, Philippines
- Central Java Power - Indonesia
- Commonwealth Bank - Australia
- Minerals Council of Australia
- Siam City Cement - Thailand
- Asmin Koalindo Tuhup - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Kumho Petrochemical, South Korea
- CIMB Investment Bank - Malaysia
- South Luzon Thermal Energy Corporation
- Central Electricity Authority - India
- McConnell Dowell - Australia
- Cement Manufacturers Association - India
- Australian Coal Association
- Pipit Mutiara Jaya. PT, Indonesia
- Global Green Power PLC Corporation, Philippines
- Orica Mining Services - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- London Commodity Brokers - England
- Energy Link Ltd, New Zealand
- Directorate General of MIneral and Coal - Indonesia
- Essar Steel Hazira Ltd - India
- Lanco Infratech Ltd - India
- Sical Logistics Limited - India
- SMC Global Power, Philippines
- Globalindo Alam Lestari - Indonesia
- Aditya Birla Group - India
- Oldendorff Carriers - Singapore
- Anglo American - United Kingdom
- Bahari Cakrawala Sebuku - Indonesia
- Africa Commodities Group - South Africa
- Salva Resources Pvt Ltd - India
- Planning Commission, India
- Bharathi Cement Corporation - India
- Kideco Jaya Agung - Indonesia
- Pendopo Energi Batubara - Indonesia
- Formosa Plastics Group - Taiwan
- Bhushan Steel Limited - India
- CNBM International Corporation - China
- Holcim Trading Pte Ltd - Singapore
- Directorate Of Revenue Intelligence - India
- PetroVietnam Power Coal Import and Supply Company
- Star Paper Mills Limited - India
- Thiess Contractors Indonesia
- Renaissance Capital - South Africa
- Ind-Barath Power Infra Limited - India
- Posco Energy - South Korea
- Binh Thuan Hamico - Vietnam
- Gujarat Sidhee Cement - India
- GN Power Mariveles Coal Plant, Philippines
- Indika Energy - Indonesia
- GAC Shipping (India) Pvt Ltd
- Kartika Selabumi Mining - Indonesia
- Mintek Dendrill Indonesia
- Kobexindo Tractors - Indoneisa
- Mercator Lines Limited - India
- Bhoruka Overseas - Indonesia
- Sarangani Energy Corporation, Philippines
- The Treasury - Australian Government
- Iligan Light & Power Inc, Philippines
- Bukit Baiduri Energy - Indonesia
- Banpu Public Company Limited - Thailand
- Australian Commodity Traders Exchange
- Miang Besar Coal Terminal - Indonesia
- OPG Power Generation Pvt Ltd - India
- Vedanta Resources Plc - India
- Merrill Lynch Commodities Europe
- Vizag Seaport Private Limited - India
- Indo Tambangraya Megah - Indonesia
- Edison Trading Spa - Italy
- Bukit Asam (Persero) Tbk - Indonesia
- Petron Corporation, Philippines
- Indian Oil Corporation Limited
- Port Waratah Coal Services - Australia
- Leighton Contractors Pty Ltd - Australia
- Toyota Tsusho Corporation, Japan
- Sinarmas Energy and Mining - Indonesia
- Aboitiz Power Corporation - Philippines
- Indian Energy Exchange, India
- Coalindo Energy - Indonesia
- Economic Council, Georgia
- Thai Mozambique Logistica
- Savvy Resources Ltd - HongKong
- Barasentosa Lestari - Indonesia
- MS Steel International - UAE
- IEA Clean Coal Centre - UK
- Latin American Coal - Colombia
- Marubeni Corporation - India
- Manunggal Multi Energi - Indonesia
- Baramulti Group, Indonesia
- Gujarat Electricity Regulatory Commission - India
- Karbindo Abesyapradhi - Indoneisa
- Indogreen Group - Indonesia
- Electricity Generating Authority of Thailand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Xindia Steels Limited - India
- GVK Power & Infra Limited - India
- Price Waterhouse Coopers - Russia
- Chettinad Cement Corporation Ltd - India
- Straits Asia Resources Limited - Singapore
- Bangladesh Power Developement Board
- The State Trading Corporation of India Ltd
- Sree Jayajothi Cements Limited - India
- Altura Mining Limited, Indonesia
- Karaikal Port Pvt Ltd - India
- Sojitz Corporation - Japan
- International Coal Ventures Pvt Ltd - India
- Ministry of Mines - Canada
- Global Coal Blending Company Limited - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- European Bulk Services B.V. - Netherlands
- IHS Mccloskey Coal Group - USA
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Heidelberg Cement - Germany
|
| |
| |
|
