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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
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Tuesday, 18 October 11
INDONESIAN PRESIDENT APPOINTS JERO WACIK AS NEW MINISTER OF ENERGY & MINERAL RESOURCES
COALspot.com - Jero Wacik has been appointed as minister of energy and mineral resources of Indonesia replacing Darwin Saleh and Prof. Widjajono Par ...
Tuesday, 18 October 11
DELTA DUNIA MAKMUR HAS PRODUCED 3.0 MILLION TONS OF COAL LAST MONTH
COALspot.com - PT. Delta Dunia Makmur, wholly owned subsidiary, PT Bukit Makmur Mandiri Utama (BUMA), Delta Dunia Makmur has removed 1.4 million bcm ...
Monday, 17 October 11
KOWEPO TO BUY 260,000 MT BITUMINOUS COAL
COALspot.com - KOWEPO has issued a spot tender for 260,000MT of minimum 5,600kcal/kg NAR Bituminous Coal.
The tender document also mentioned tha ...
Monday, 17 October 11
CAPESIZE SHIPPING COSTS CLIMB TO 10-MONTH HIGH ON ORE IMPORTS
The cost to hire capesize vessels climbed to a 10-month high as rising imports of iron ore to China boosted demand for the ships.Monthly iron-ore sh ...
Saturday, 15 October 11
BUNKER PRICES AND DEMANDS PUSHED FREIGHT RATES UP - VISTAAR
COALspot.com - The market continued to be firm with all segments moving up with biggest gain in Handy size segment up by 15 pct. The BDI was u ...
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- Australian Coal Association
- Vijayanagar Sugar Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Vedanta Resources Plc - India
- LBH Netherlands Bv - Netherlands
- Coal and Oil Company - UAE
- Ambuja Cements Ltd - India
- Heidelberg Cement - Germany
- Kartika Selabumi Mining - Indonesia
- Renaissance Capital - South Africa
- Sinarmas Energy and Mining - Indonesia
- MS Steel International - UAE
- Malabar Cements Ltd - India
- Latin American Coal - Colombia
- Maharashtra Electricity Regulatory Commission - India
- Vizag Seaport Private Limited - India
- Borneo Indobara - Indonesia
- European Bulk Services B.V. - Netherlands
- Interocean Group of Companies - India
- Aboitiz Power Corporation - Philippines
- Ministry of Transport, Egypt
- Kalimantan Lumbung Energi - Indonesia
- Bayan Resources Tbk. - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Lanco Infratech Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Global Business Power Corporation, Philippines
- Semirara Mining Corp, Philippines
- Attock Cement Pakistan Limited
- Bhatia International Limited - India
- PTC India Limited - India
- Trasteel International SA, Italy
- Jorong Barutama Greston.PT - Indonesia
- Sindya Power Generating Company Private Ltd
- Kaltim Prima Coal - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Mjunction Services Limited - India
- Energy Link Ltd, New Zealand
- Sojitz Corporation - Japan
- Therma Luzon, Inc, Philippines
- Meenaskhi Energy Private Limited - India
- Binh Thuan Hamico - Vietnam
- Medco Energi Mining Internasional
- Siam City Cement PLC, Thailand
- Electricity Generating Authority of Thailand
- GN Power Mariveles Coal Plant, Philippines
- Oldendorff Carriers - Singapore
- Ind-Barath Power Infra Limited - India
- Salva Resources Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- Savvy Resources Ltd - HongKong
- OPG Power Generation Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- Singapore Mercantile Exchange
- Krishnapatnam Port Company Ltd. - India
- Parry Sugars Refinery, India
- Thiess Contractors Indonesia
- London Commodity Brokers - England
- Metalloyd Limited - United Kingdom
- Anglo American - United Kingdom
- Siam City Cement - Thailand
- Minerals Council of Australia
- Mintek Dendrill Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Iligan Light & Power Inc, Philippines
- Indonesian Coal Mining Association
- Directorate General of MIneral and Coal - Indonesia
- GVK Power & Infra Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Georgia Ports Authority, United States
- Rashtriya Ispat Nigam Limited - India
- Bhushan Steel Limited - India
- GMR Energy Limited - India
- Australian Commodity Traders Exchange
- TeaM Sual Corporation - Philippines
- Indogreen Group - Indonesia
- Eastern Energy - Thailand
- Altura Mining Limited, Indonesia
- Economic Council, Georgia
- GAC Shipping (India) Pvt Ltd
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- Indo Tambangraya Megah - Indonesia
- Deloitte Consulting - India
- Rio Tinto Coal - Australia
- SMG Consultants - Indonesia
- The Treasury - Australian Government
- CIMB Investment Bank - Malaysia
- Bukit Asam (Persero) Tbk - Indonesia
- Bharathi Cement Corporation - India
- Carbofer General Trading SA - India
- AsiaOL BioFuels Corp., Philippines
- Edison Trading Spa - Italy
- Indian Oil Corporation Limited
- SMC Global Power, Philippines
- Jindal Steel & Power Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Commonwealth Bank - Australia
- Power Finance Corporation Ltd., India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Posco Energy - South Korea
- Karaikal Port Pvt Ltd - India
- Madhucon Powers Ltd - India
- IHS Mccloskey Coal Group - USA
- Pendopo Energi Batubara - Indonesia
- Eastern Coal Council - USA
- Merrill Lynch Commodities Europe
- Larsen & Toubro Limited - India
- Karbindo Abesyapradhi - Indoneisa
- White Energy Company Limited
- Banpu Public Company Limited - Thailand
- Sical Logistics Limited - India
- Electricity Authority, New Zealand
- Riau Bara Harum - Indonesia
- Kumho Petrochemical, South Korea
- Barasentosa Lestari - Indonesia
- Orica Australia Pty. Ltd.
- Xindia Steels Limited - India
- Holcim Trading Pte Ltd - Singapore
- CNBM International Corporation - China
- Agrawal Coal Company - India
- Directorate Of Revenue Intelligence - India
- Bukit Makmur.PT - Indonesia
- ASAPP Information Group - India
- Kepco SPC Power Corporation, Philippines
- Indika Energy - Indonesia
- Wood Mackenzie - Singapore
- Bhoruka Overseas - Indonesia
- VISA Power Limited - India
- Simpson Spence & Young - Indonesia
- McConnell Dowell - Australia
- Coalindo Energy - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Kapuas Tunggal Persada - Indonesia
- Essar Steel Hazira Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Miang Besar Coal Terminal - Indonesia
- Gujarat Sidhee Cement - India
- Aditya Birla Group - India
- Price Waterhouse Coopers - Russia
- Kohat Cement Company Ltd. - Pakistan
- Romanian Commodities Exchange
- Thai Mozambique Logistica
- Parliament of New Zealand
- ICICI Bank Limited - India
- Star Paper Mills Limited - India
- Bulk Trading Sa - Switzerland
- Energy Development Corp, Philippines
- Leighton Contractors Pty Ltd - Australia
- Baramulti Group, Indonesia
- Wilmar Investment Holdings
- Bangladesh Power Developement Board
- Orica Mining Services - Indonesia
- Goldman Sachs - Singapore
- PowerSource Philippines DevCo
- Straits Asia Resources Limited - Singapore
- Billiton Holdings Pty Ltd - Australia
- Sarangani Energy Corporation, Philippines
- Mercator Lines Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Toyota Tsusho Corporation, Japan
- New Zealand Coal & Carbon
- Coastal Gujarat Power Limited - India
- Uttam Galva Steels Limited - India
- Globalindo Alam Lestari - Indonesia
- Kobexindo Tractors - Indoneisa
- Chettinad Cement Corporation Ltd - India
- The University of Queensland
- PNOC Exploration Corporation - Philippines
- Alfred C Toepfer International GmbH - Germany
- Intertek Mineral Services - Indonesia
- Formosa Plastics Group - Taiwan
- Tata Chemicals Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Timah Investasi Mineral - Indoneisa
- San Jose City I Power Corp, Philippines
- India Bulls Power Limited - India
- Grasim Industreis Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Meralco Power Generation, Philippines
- Tamil Nadu electricity Board
- Marubeni Corporation - India
- International Coal Ventures Pvt Ltd - India
- Chamber of Mines of South Africa
- Cement Manufacturers Association - India
- Manunggal Multi Energi - Indonesia
- Standard Chartered Bank - UAE
- Samtan Co., Ltd - South Korea
- Dalmia Cement Bharat India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Planning Commission, India
- The State Trading Corporation of India Ltd
- Global Green Power PLC Corporation, Philippines
- IEA Clean Coal Centre - UK
- Africa Commodities Group - South Africa
- Petron Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ministry of Mines - Canada
- Global Coal Blending Company Limited - Australia
- Antam Resourcindo - Indonesia
- Sree Jayajothi Cements Limited - India
- South Luzon Thermal Energy Corporation
- Mercuria Energy - Indonesia
- Videocon Industries ltd - India
- Central Electricity Authority - India
- Indian Energy Exchange, India
- Independent Power Producers Association of India
- Makarim & Taira - Indonesia
- Ministry of Finance - Indonesia
- Bukit Baiduri Energy - Indonesia
- Port Waratah Coal Services - Australia
- Kideco Jaya Agung - Indonesia
- Central Java Power - Indonesia
- Sakthi Sugars Limited - India
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