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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, 13 September 11
CAPITAL COSTS OF INDIAN COAL MINING PROJECT - AN ANALYST VIEW
By Mr Dipesh Dipu, Director - Consulting (Mining), Deloitte Touche Tohmatsu India Private Limited
The coal mining sector that has been opened par ...
Tuesday, 13 September 11
INDONESIAS COAL SECTOR EYES 2012 BOOM - JG
The Jakarta Globe, Indonesian English language News paper reported that, Coal production is set to surge next year as coal miners bolster their busi ...
Tuesday, 13 September 11
DRY BULK RALLY MAINTAINS MOMENTUM AT START OF THE WEEK - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market kept its upward momentum at the start of the week, as the industry’s benchmark, the Baltic Dry Index (BDI) was up by 2.07% ...
Monday, 12 September 11
INDONESIAN GOVERNMENT HAS ALLOCATED MORE COAL FOR 2012
COALspot.com - Indonesian government has increased the domestic market obligation allocation to 82.07 million tons of coal for 2012, which is 4 perc ...
Saturday, 10 September 11
THE FREIGHT MARKET LIKELY TO BE FIRM NEXT WEEK - CAPT. REDDY
COALspot.com - The freight market continued the upward trend during last week with BDI crossing 1,800 points and closing at 1,838 points up by 5.63 ...
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- Tamil Nadu electricity Board
- Aboitiz Power Corporation - Philippines
- Lanco Infratech Ltd - India
- New Zealand Coal & Carbon
- Chamber of Mines of South Africa
- Mintek Dendrill Indonesia
- Toyota Tsusho Corporation, Japan
- Cigading International Bulk Terminal - Indonesia
- Singapore Mercantile Exchange
- Alfred C Toepfer International GmbH - Germany
- Power Finance Corporation Ltd., India
- Star Paper Mills Limited - India
- Australian Coal Association
- CNBM International Corporation - China
- Krishnapatnam Port Company Ltd. - India
- Meenaskhi Energy Private Limited - India
- Sree Jayajothi Cements Limited - India
- Thai Mozambique Logistica
- Vizag Seaport Private Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Grasim Industreis Ltd - India
- Meralco Power Generation, Philippines
- OPG Power Generation Pvt Ltd - India
- Oldendorff Carriers - Singapore
- Eastern Energy - Thailand
- Posco Energy - South Korea
- Petrochimia International Co. Ltd.- Taiwan
- IEA Clean Coal Centre - UK
- Miang Besar Coal Terminal - Indonesia
- Global Business Power Corporation, Philippines
- Parry Sugars Refinery, India
- Electricity Authority, New Zealand
- Samtan Co., Ltd - South Korea
- Sinarmas Energy and Mining - Indonesia
- Straits Asia Resources Limited - Singapore
- Carbofer General Trading SA - India
- Sakthi Sugars Limited - India
- Orica Australia Pty. Ltd.
- Thiess Contractors Indonesia
- The State Trading Corporation of India Ltd
- Intertek Mineral Services - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Ambuja Cements Ltd - India
- Kobexindo Tractors - Indoneisa
- Wood Mackenzie - Singapore
- Electricity Generating Authority of Thailand
- Kaltim Prima Coal - Indonesia
- VISA Power Limited - India
- Dalmia Cement Bharat India
- Malabar Cements Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Mjunction Services Limited - India
- TeaM Sual Corporation - Philippines
- Kepco SPC Power Corporation, Philippines
- Petron Corporation, Philippines
- San Jose City I Power Corp, Philippines
- Goldman Sachs - Singapore
- Independent Power Producers Association of India
- Banpu Public Company Limited - Thailand
- International Coal Ventures Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- Trasteel International SA, Italy
- Offshore Bulk Terminal Pte Ltd, Singapore
- Siam City Cement PLC, Thailand
- Jindal Steel & Power Ltd - India
- Latin American Coal - Colombia
- Cement Manufacturers Association - India
- McConnell Dowell - Australia
- Georgia Ports Authority, United States
- Standard Chartered Bank - UAE
- TNB Fuel Sdn Bhd - Malaysia
- Indo Tambangraya Megah - Indonesia
- Therma Luzon, Inc, Philippines
- Indian Energy Exchange, India
- Iligan Light & Power Inc, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Timah Investasi Mineral - Indoneisa
- Planning Commission, India
- Sical Logistics Limited - India
- Bhoruka Overseas - Indonesia
- Mercator Lines Limited - India
- Indika Energy - Indonesia
- Savvy Resources Ltd - HongKong
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Siam City Cement - Thailand
- Edison Trading Spa - Italy
- Interocean Group of Companies - India
- Bhushan Steel Limited - India
- Renaissance Capital - South Africa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Global Green Power PLC Corporation, Philippines
- Gujarat Sidhee Cement - India
- Maharashtra Electricity Regulatory Commission - India
- Commonwealth Bank - Australia
- Ministry of Transport, Egypt
- Ministry of Mines - Canada
- Vedanta Resources Plc - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Coal and Oil Company - UAE
- Globalindo Alam Lestari - Indonesia
- ICICI Bank Limited - India
- Central Electricity Authority - India
- Jaiprakash Power Ventures ltd
- Semirara Mining Corp, Philippines
- Energy Link Ltd, New Zealand
- Bukit Baiduri Energy - Indonesia
- Binh Thuan Hamico - Vietnam
- Coastal Gujarat Power Limited - India
- GMR Energy Limited - India
- Karaikal Port Pvt Ltd - India
- Wilmar Investment Holdings
- Bhatia International Limited - India
- Price Waterhouse Coopers - Russia
- Bukit Asam (Persero) Tbk - Indonesia
- Indogreen Group - Indonesia
- Uttam Galva Steels Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Agrawal Coal Company - India
- Gujarat Mineral Development Corp Ltd - India
- Marubeni Corporation - India
- Energy Development Corp, Philippines
- PowerSource Philippines DevCo
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- Global Coal Blending Company Limited - Australia
- LBH Netherlands Bv - Netherlands
- SMG Consultants - Indonesia
- The University of Queensland
- Vijayanagar Sugar Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Kohat Cement Company Ltd. - Pakistan
- Bahari Cakrawala Sebuku - Indonesia
- Borneo Indobara - Indonesia
- Merrill Lynch Commodities Europe
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bukit Makmur.PT - Indonesia
- Baramulti Group, Indonesia
- Chettinad Cement Corporation Ltd - India
- Attock Cement Pakistan Limited
- Formosa Plastics Group - Taiwan
- White Energy Company Limited
- Sojitz Corporation - Japan
- Rashtriya Ispat Nigam Limited - India
- Bangladesh Power Developement Board
- Sarangani Energy Corporation, Philippines
- Essar Steel Hazira Ltd - India
- Port Waratah Coal Services - Australia
- Kapuas Tunggal Persada - Indonesia
- Makarim & Taira - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Rio Tinto Coal - Australia
- Metalloyd Limited - United Kingdom
- Pipit Mutiara Jaya. PT, Indonesia
- Heidelberg Cement - Germany
- Karbindo Abesyapradhi - Indoneisa
- Maheswari Brothers Coal Limited - India
- Medco Energi Mining Internasional
- Indonesian Coal Mining Association
- Larsen & Toubro Limited - India
- Leighton Contractors Pty Ltd - Australia
- Madhucon Powers Ltd - India
- Coalindo Energy - Indonesia
- Videocon Industries ltd - India
- Deloitte Consulting - India
- Eastern Coal Council - USA
- SN Aboitiz Power Inc, Philippines
- PTC India Limited - India
- Simpson Spence & Young - Indonesia
- Bharathi Cement Corporation - India
- GVK Power & Infra Limited - India
- The Treasury - Australian Government
- Riau Bara Harum - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Ministry of Finance - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Economic Council, Georgia
- SMC Global Power, Philippines
- Central Java Power - Indonesia
- Pendopo Energi Batubara - Indonesia
- Manunggal Multi Energi - Indonesia
- Africa Commodities Group - South Africa
- Kartika Selabumi Mining - Indonesia
- South Luzon Thermal Energy Corporation
- IHS Mccloskey Coal Group - USA
- Kumho Petrochemical, South Korea
- ASAPP Information Group - India
- Kalimantan Lumbung Energi - Indonesia
- Antam Resourcindo - Indonesia
- European Bulk Services B.V. - Netherlands
- Directorate Of Revenue Intelligence - India
- Altura Mining Limited, Indonesia
- London Commodity Brokers - England
- Orica Mining Services - Indonesia
- Romanian Commodities Exchange
- Australian Commodity Traders Exchange
- Indian Oil Corporation Limited
- Ind-Barath Power Infra Limited - India
- Aditya Birla Group - India
- India Bulls Power Limited - India
- Salva Resources Pvt Ltd - India
- Tata Chemicals Ltd - India
- PNOC Exploration Corporation - Philippines
- Directorate General of MIneral and Coal - Indonesia
- Barasentosa Lestari - Indonesia
- Xindia Steels Limited - India
- Kideco Jaya Agung - Indonesia
- Anglo American - United Kingdom
- Bulk Trading Sa - Switzerland
- Sindya Power Generating Company Private Ltd
- Ceylon Electricity Board - Sri Lanka
- Parliament of New Zealand
- Holcim Trading Pte Ltd - Singapore
- MS Steel International - UAE
- Mercuria Energy - Indonesia
- Gujarat Electricity Regulatory Commission - India
- GAC Shipping (India) Pvt Ltd
- Minerals Council of Australia
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