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Tuesday, 01 November 11
BORNEO LUMBUNG BUYS 23.8% INTEREST IN BUMI
.jpg) COALspot.com - PT. Borneo Lumbung Energi (BORN), an Indonesian coking coal producer announces that it has signed a sale and purchase agreement, conditional upon shareholder, regulatory, and other approvals to acquire an effective economic interest of approximately 23.8% in Bumi Plc.
According to Borneo's press release, the total investment considered of US$ one billion values Bumi plc's shares at approximately GBP 10.91 per share at the date of the announcement and will be payable in cash.
Mr. Samin Tan, President director of BORN, said " This Transaction creates a partnership between two leading mining groups in Indonesia. Through this transaction, BORN will gain access to the growing thermal coal industry through a well established and major platform. The transaction also provides BORN with exposure to a high quality metals portfolio, thus transforming BORN from a pure coking coal producer into a world class diversified natural resources producer. This also signifies our intelligent way of deploying capital"
Mr. Tan Continued, "BORN has proven mine development skills from greenfield through to production stage and we look forward to working with and supporting current management across the Bumi plc group to execute development plants at the exciting new prjects at Dairi Prima Minerals, Gorontalo Mining and Bumi Mauritania as well as achieving synergies and efficiencies across the coal division. We are strongly committed to creating shareholder value at all levels from BORN to Bumi plc and its subsidiaries and associate companies."
According to BORN, this partnership transforms BORN into a leading natural resources company with exposure to both coking and thermal coal as well as a diversified high quality metals portfolio.
The Transaction positions BORN on the global map, as one of the leading mining companies in the world. BORN also believes, the demand and price outlook for the global thermal coal market is positive with China and India expected to be key growth drivers. The transaction provides BORN with exposure to this growth given Indonesia's proximity to both markets.
The investment is expected to be financed through a US$ one billion five-years amortizing term loan facility provided solely by Standard Chartered Bank. The press release further said, Standard Charted Bank is acting as the financial advisor and acquisition finance provider to BORN in connection with the Transaction.
The Transaction is expected to close in December 2011.
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Thursday, 03 November 11
DRY BULK MARKET OFFICIALLY IN THE RED ON LOWER CARGO DEMAND - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market kept falling yesterday, on lower iron ore demand, which has caused the industry’s benchmark, the BDI (Baltic Dry Index) to ...
Wednesday, 02 November 11
MMTC TO BUY 3.73 MILLION TONS OF COAL FOR 2011- 2013
COALspot.com - India’s state-owned coal and mineral trader MMTC looking for 3.73 million tons of power plant coal for the period 2011 - 2012/ ...
Wednesday, 02 November 11
PANAMAX MARKET BECAME QUIETER AFTER THE RECENT RECOVERY - BRS
There were substantial losses across the board this week: the BDI lost 6.3% to end at 2,018 and the BCI 8.2% to end 3,274. In the smaller sizes the ...
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” ...
Tuesday, 01 November 11
ATLAS RESOURCES SETS IPO AT RP1,500 - INSIDER STORIES
Insider Stories reported that, coal miner PT Atlas Resources Tbk has set its initial public offering (IPO) at Rp1,500 (approximately US$ 0.169) per ...
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- Manunggal Multi Energi - Indonesia
- Singapore Mercantile Exchange
- Mjunction Services Limited - India
- Parliament of New Zealand
- Tamil Nadu electricity Board
- Binh Thuan Hamico - Vietnam
- Timah Investasi Mineral - Indoneisa
- Anglo American - United Kingdom
- IHS Mccloskey Coal Group - USA
- LBH Netherlands Bv - Netherlands
- Rashtriya Ispat Nigam Limited - India
- PNOC Exploration Corporation - Philippines
- Sojitz Corporation - Japan
- Alfred C Toepfer International GmbH - Germany
- Agrawal Coal Company - India
- Central Java Power - Indonesia
- Australian Commodity Traders Exchange
- Parry Sugars Refinery, India
- Malabar Cements Ltd - India
- Wilmar Investment Holdings
- Bukit Asam (Persero) Tbk - Indonesia
- Standard Chartered Bank - UAE
- ASAPP Information Group - India
- Global Business Power Corporation, Philippines
- Bangladesh Power Developement Board
- Maharashtra Electricity Regulatory Commission - India
- Kobexindo Tractors - Indoneisa
- McConnell Dowell - Australia
- Port Waratah Coal Services - Australia
- Salva Resources Pvt Ltd - India
- Eastern Coal Council - USA
- Makarim & Taira - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Borneo Indobara - Indonesia
- Globalindo Alam Lestari - Indonesia
- Pendopo Energi Batubara - Indonesia
- Indian Energy Exchange, India
- Kumho Petrochemical, South Korea
- Kepco SPC Power Corporation, Philippines
- Posco Energy - South Korea
- Aboitiz Power Corporation - Philippines
- Meralco Power Generation, Philippines
- Straits Asia Resources Limited - Singapore
- Latin American Coal - Colombia
- SMC Global Power, Philippines
- Global Coal Blending Company Limited - Australia
- IEA Clean Coal Centre - UK
- Jorong Barutama Greston.PT - Indonesia
- Lanco Infratech Ltd - India
- Ministry of Transport, Egypt
- Medco Energi Mining Internasional
- Sakthi Sugars Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- New Zealand Coal & Carbon
- Africa Commodities Group - South Africa
- The State Trading Corporation of India Ltd
- Central Electricity Authority - India
- Xindia Steels Limited - India
- Intertek Mineral Services - Indonesia
- Bhushan Steel Limited - India
- TeaM Sual Corporation - Philippines
- Kalimantan Lumbung Energi - Indonesia
- Planning Commission, India
- The Treasury - Australian Government
- European Bulk Services B.V. - Netherlands
- PTC India Limited - India
- Ceylon Electricity Board - Sri Lanka
- SN Aboitiz Power Inc, Philippines
- Vedanta Resources Plc - India
- Marubeni Corporation - India
- Directorate Of Revenue Intelligence - India
- Videocon Industries ltd - India
- Metalloyd Limited - United Kingdom
- Billiton Holdings Pty Ltd - Australia
- Ind-Barath Power Infra Limited - India
- Leighton Contractors Pty Ltd - Australia
- San Jose City I Power Corp, Philippines
- Indian Oil Corporation Limited
- International Coal Ventures Pvt Ltd - India
- Independent Power Producers Association of India
- Samtan Co., Ltd - South Korea
- Energy Development Corp, Philippines
- Riau Bara Harum - Indonesia
- Heidelberg Cement - Germany
- Sarangani Energy Corporation, Philippines
- Ministry of Finance - Indonesia
- Formosa Plastics Group - Taiwan
- Bukit Baiduri Energy - Indonesia
- Indo Tambangraya Megah - Indonesia
- Minerals Council of Australia
- Ambuja Cements Ltd - India
- Rio Tinto Coal - Australia
- Bhoruka Overseas - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Eastern Energy - Thailand
- CNBM International Corporation - China
- Simpson Spence & Young - Indonesia
- Baramulti Group, Indonesia
- Kaltim Prima Coal - Indonesia
- Star Paper Mills Limited - India
- CIMB Investment Bank - Malaysia
- Indogreen Group - Indonesia
- Coal and Oil Company - UAE
- Attock Cement Pakistan Limited
- Asmin Koalindo Tuhup - Indonesia
- Karaikal Port Pvt Ltd - India
- Electricity Generating Authority of Thailand
- Australian Coal Association
- Kohat Cement Company Ltd. - Pakistan
- Siam City Cement PLC, Thailand
- Sical Logistics Limited - India
- Merrill Lynch Commodities Europe
- Larsen & Toubro Limited - India
- Sindya Power Generating Company Private Ltd
- Toyota Tsusho Corporation, Japan
- PowerSource Philippines DevCo
- Petrochimia International Co. Ltd.- Taiwan
- Thiess Contractors Indonesia
- Carbofer General Trading SA - India
- Energy Link Ltd, New Zealand
- ICICI Bank Limited - India
- GVK Power & Infra Limited - India
- South Luzon Thermal Energy Corporation
- GAC Shipping (India) Pvt Ltd
- Kapuas Tunggal Persada - Indonesia
- Semirara Mining Corp, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Thai Mozambique Logistica
- Dalmia Cement Bharat India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Banpu Public Company Limited - Thailand
- Gujarat Sidhee Cement - India
- Bukit Makmur.PT - Indonesia
- Savvy Resources Ltd - HongKong
- Bhatia International Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Vizag Seaport Private Limited - India
- Cigading International Bulk Terminal - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- Kideco Jaya Agung - Indonesia
- SMG Consultants - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sinarmas Energy and Mining - Indonesia
- Tata Chemicals Ltd - India
- Commonwealth Bank - Australia
- Jindal Steel & Power Ltd - India
- Meenaskhi Energy Private Limited - India
- Mintek Dendrill Indonesia
- Oldendorff Carriers - Singapore
- VISA Power Limited - India
- Altura Mining Limited, Indonesia
- Kartika Selabumi Mining - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Mercator Lines Limited - India
- Coalindo Energy - Indonesia
- Coastal Gujarat Power Limited - India
- Power Finance Corporation Ltd., India
- Edison Trading Spa - Italy
- Semirara Mining and Power Corporation, Philippines
- Price Waterhouse Coopers - Russia
- Bahari Cakrawala Sebuku - Indonesia
- White Energy Company Limited
- Bayan Resources Tbk. - Indonesia
- Madhucon Powers Ltd - India
- Siam City Cement - Thailand
- Ministry of Mines - Canada
- Grasim Industreis Ltd - India
- Indonesian Coal Mining Association
- Krishnapatnam Port Company Ltd. - India
- PetroVietnam Power Coal Import and Supply Company
- Aditya Birla Group - India
- Uttam Galva Steels Limited - India
- Chamber of Mines of South Africa
- Indika Energy - Indonesia
- OPG Power Generation Pvt Ltd - India
- Georgia Ports Authority, United States
- Global Green Power PLC Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- MS Steel International - UAE
- Pipit Mutiara Jaya. PT, Indonesia
- Orica Mining Services - Indonesia
- Electricity Authority, New Zealand
- The University of Queensland
- Karbindo Abesyapradhi - Indoneisa
- Holcim Trading Pte Ltd - Singapore
- Deloitte Consulting - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Romanian Commodities Exchange
- Economic Council, Georgia
- Iligan Light & Power Inc, Philippines
- Wood Mackenzie - Singapore
- Antam Resourcindo - Indonesia
- Goldman Sachs - Singapore
- GMR Energy Limited - India
- Miang Besar Coal Terminal - Indonesia
- Orica Australia Pty. Ltd.
- Renaissance Capital - South Africa
- India Bulls Power Limited - India
- Essar Steel Hazira Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Barasentosa Lestari - Indonesia
- London Commodity Brokers - England
- Jaiprakash Power Ventures ltd
- Chettinad Cement Corporation Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bharathi Cement Corporation - India
- Mercuria Energy - Indonesia
- Interocean Group of Companies - India
- Petron Corporation, Philippines
- Trasteel International SA, Italy
- Maheswari Brothers Coal Limited - India
- Cement Manufacturers Association - India
- Bulk Trading Sa - Switzerland
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