We welcome article submissions from experts in the areas of coal, mining,
shipping, etc.
To Submit your article please click here.
|
|
|
Friday, 01 June 12
ADARO BUYS MAJORITY STAKE IN AFFILIATED BHAKTI ENERGI - INSIDER STORIES
 Insider Stories reported that, PT Adaro Energy Tbk entered into an option to provide a convertible loan of up to US$500 million for a period of 3 years (referred to below as Option One), to acquire a controlling interest in an affiliated coal miner PT Bhakti Energi Persada (BEP) and an option, to acquire the majority shares from the controlling shareholders of BEP (referred to below as Option Two, and, together with Option One are referred to as Options or Option Agreements).
Adaro Energy will have full control of the management, operations and all the funding of BEP from the date of the signing of the Options.
“We are delighted with the BEP Options we have signed. We feel BEP has excellent potential to help us achieve our main goal of generating substantial sustainable long-term value from Indonesian coal," said President Director Garibaldi Thohir at Adaro in a press statement yesterday filed to Indonesia Stock Exchange.
Adaro also worked for 2 years to negotiate a deal that is structured in a unique way to minimize risk to Adaro. "While we are excited with the BEP opportunity, we must also emphasize that we will use our best judgment before injecting any funds to develop the asset.”
Key success factors such as market readiness, receiving required permits from the government, land availability, social and community support, and completing engineering and geological studies must first be in place before any large capital expenditures will be deployed. “Our investors should not have the perception that once the Options are signed, we will immediately deploy capital to fund BEP. We are entering into these Options to properly assess an opportunity, while minimizing the risk to Adaro’s capital. We want to ensure both the acquisition risks and the execution risks are addressed well in advance.”
BEP, which was established in 2002, owns seven low grade thermal coal licenses in the District of Muara Wahau, East Kutai Regency, East Kalimantan. BEP also owns two transport businesses in East Kalimantan, which own the hauling road that will be used to transport BEP’s coal to the seashore. The seven concessions form one very large contiguous thermal coal deposit. SRK Consulting (Australasia) Pty Ltd (“SRK”) estimated BEP’s concessions to have JORC compliant total resources of 9.53 billion tonnes.
In 2010, Adaro Energy hired Marston, an international mining consultant firm out of St Louis Missouri, USA, to conduct a mining and development study, which verified certain technical assumptions used by SRK in their 2008 and 2009 JORC resource reports. Marston’s estimate of insitu coal tonnages was essentially the same as the SRK estimate as the difference was within acceptable limits.
Option One provides Adaro the option to lend up to US$500 million to acquire 51% equity in BEP over a period of 3 years.
Adaro can make a decision to convert the loan into equity at the end of the 3 year period. Option two also has a 3 year maturity and was signed with PT Persada Capital Investama (PCI), PT Triputra Investindo Arya (TIA), and the descendants of the late Mr. Winarto. PCI and TIA each have a 30.787% stake in BEP and combined with the 18.216% Winarto family stake, own 79.8% of the equity of BEP.
Option two provides Adaro a right to acquire shares held by the controlling shareholders of BEP (together holding 79.8% shares in BEP) in exchange for 2,381.7 million shares of Adaro Energy. Both Options are only options for Adaro and not its obligations.
In June 2011, in an unrelated transaction, Adaro Energy acquired 10.22% of BEP for US$66 million from third party minority holders.
Source: Insider Stories
If you believe an article violates your rights or the rights of others, please contact us.
|
|
Sunday, 01 July 12
DSP OF SGX ASIACLEAR OTC COAL SWAP'S THIS WEEKS MOVEMENTS SLIGHTLY POSITIVE
COALspot.com - SGX AsiaClear OTC Coal Swaps have recovered slightly this week and Q4 deliveries are also showing positive direction.
SGX’s ...
Saturday, 30 June 12
THE FREIGHT RATES ARE EXPECTED TO BE STEADY TO FIRM NEXT WEEK - VISTAAR SINGAPORE
COALspot.com – The BDI was up by 2.66 pct (up by 26 points) closing at 1,004 points crossing the 1000 point barrier this week.
The c ...
Friday, 29 June 12
INDONESIAN PRODUCERS ARE PLANNING TO CUT PRODUCTION IF COAL PRICES FALL FURTHER
COALspot.com: Indonesia, the world largest multi grade coal exporter, shipped 31.54* million tons of coal in May 2012, compared to 31.86* mill ...
Friday, 29 June 12
DRY BULK SHIP OWNERS DOING THEIR MATHS BEFORE PLACING NEWBUILDING ORDERS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
With oversupply having plagued the dry bulk shipping fleet since the end of 2011, it’s become ever so evident that placing a newbuilding order ...
Thursday, 28 June 12
DRY BULK MARKET HIGHER ON CAPESIZE OPTIMISM - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market inched a bit higher yesterday, as the BDI (Baltic Dry Index) ended up by 0.71% to 988 points. Most ship types were up, with the ...
|
|
|
Showing 4676 to 4680 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Chettinad Cement Corporation Ltd - India
- Star Paper Mills Limited - India
- Salva Resources Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Romanian Commodities Exchange
- Vedanta Resources Plc - India
- Indian Energy Exchange, India
- Energy Link Ltd, New Zealand
- Iligan Light & Power Inc, Philippines
- Kepco SPC Power Corporation, Philippines
- Sarangani Energy Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- Central Java Power - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Gujarat Sidhee Cement - India
- Straits Asia Resources Limited - Singapore
- Cigading International Bulk Terminal - Indonesia
- Banpu Public Company Limited - Thailand
- Kalimantan Lumbung Energi - Indonesia
- IHS Mccloskey Coal Group - USA
- San Jose City I Power Corp, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Borneo Indobara - Indonesia
- Electricity Generating Authority of Thailand
- Port Waratah Coal Services - Australia
- Marubeni Corporation - India
- Kideco Jaya Agung - Indonesia
- Indo Tambangraya Megah - Indonesia
- SMG Consultants - Indonesia
- IEA Clean Coal Centre - UK
- Tata Chemicals Ltd - India
- Formosa Plastics Group - Taiwan
- Kaltim Prima Coal - Indonesia
- Global Coal Blending Company Limited - Australia
- Oldendorff Carriers - Singapore
- PowerSource Philippines DevCo
- Jorong Barutama Greston.PT - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Bulk Trading Sa - Switzerland
- Chamber of Mines of South Africa
- Sakthi Sugars Limited - India
- Videocon Industries ltd - India
- Xindia Steels Limited - India
- Gujarat Electricity Regulatory Commission - India
- Krishnapatnam Port Company Ltd. - India
- Kumho Petrochemical, South Korea
- Bhushan Steel Limited - India
- Orica Mining Services - Indonesia
- Thiess Contractors Indonesia
- Africa Commodities Group - South Africa
- Deloitte Consulting - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Cement Manufacturers Association - India
- Goldman Sachs - Singapore
- Semirara Mining Corp, Philippines
- Wood Mackenzie - Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- The State Trading Corporation of India Ltd
- AsiaOL BioFuels Corp., Philippines
- Pendopo Energi Batubara - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Aboitiz Power Corporation - Philippines
- Ceylon Electricity Board - Sri Lanka
- Electricity Authority, New Zealand
- Timah Investasi Mineral - Indoneisa
- Coal and Oil Company - UAE
- Planning Commission, India
- LBH Netherlands Bv - Netherlands
- Posco Energy - South Korea
- Manunggal Multi Energi - Indonesia
- Orica Australia Pty. Ltd.
- Sree Jayajothi Cements Limited - India
- Kapuas Tunggal Persada - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Asmin Koalindo Tuhup - Indonesia
- TeaM Sual Corporation - Philippines
- Meralco Power Generation, Philippines
- Bukit Makmur.PT - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Gujarat Mineral Development Corp Ltd - India
- Maheswari Brothers Coal Limited - India
- Sojitz Corporation - Japan
- Tamil Nadu electricity Board
- ASAPP Information Group - India
- Metalloyd Limited - United Kingdom
- Medco Energi Mining Internasional
- SN Aboitiz Power Inc, Philippines
- GMR Energy Limited - India
- Savvy Resources Ltd - HongKong
- Indian Oil Corporation Limited
- Kartika Selabumi Mining - Indonesia
- Singapore Mercantile Exchange
- Alfred C Toepfer International GmbH - Germany
- Directorate Of Revenue Intelligence - India
- Trasteel International SA, Italy
- Bukit Baiduri Energy - Indonesia
- CNBM International Corporation - China
- Jindal Steel & Power Ltd - India
- CIMB Investment Bank - Malaysia
- Bangladesh Power Developement Board
- Riau Bara Harum - Indonesia
- Parry Sugars Refinery, India
- Jaiprakash Power Ventures ltd
- Minerals Council of Australia
- Vijayanagar Sugar Pvt Ltd - India
- Global Business Power Corporation, Philippines
- Essar Steel Hazira Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Therma Luzon, Inc, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Karaikal Port Pvt Ltd - India
- Agrawal Coal Company - India
- Anglo American - United Kingdom
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bharathi Cement Corporation - India
- GAC Shipping (India) Pvt Ltd
- India Bulls Power Limited - India
- Siam City Cement - Thailand
- Intertek Mineral Services - Indonesia
- Bhoruka Overseas - Indonesia
- Lanco Infratech Ltd - India
- OPG Power Generation Pvt Ltd - India
- Carbofer General Trading SA - India
- Power Finance Corporation Ltd., India
- Rio Tinto Coal - Australia
- Makarim & Taira - Indonesia
- Economic Council, Georgia
- Renaissance Capital - South Africa
- Latin American Coal - Colombia
- Larsen & Toubro Limited - India
- Binh Thuan Hamico - Vietnam
- Indogreen Group - Indonesia
- Uttam Galva Steels Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Grasim Industreis Ltd - India
- Standard Chartered Bank - UAE
- MS Steel International - UAE
- Georgia Ports Authority, United States
- London Commodity Brokers - England
- Wilmar Investment Holdings
- McConnell Dowell - Australia
- Indonesian Coal Mining Association
- International Coal Ventures Pvt Ltd - India
- Malabar Cements Ltd - India
- Independent Power Producers Association of India
- GVK Power & Infra Limited - India
- Samtan Co., Ltd - South Korea
- Ministry of Transport, Egypt
- ICICI Bank Limited - India
- Energy Development Corp, Philippines
- Billiton Holdings Pty Ltd - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- PTC India Limited - India
- New Zealand Coal & Carbon
- Miang Besar Coal Terminal - Indonesia
- Ministry of Finance - Indonesia
- Global Green Power PLC Corporation, Philippines
- Central Electricity Authority - India
- Indika Energy - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Simpson Spence & Young - Indonesia
- Coastal Gujarat Power Limited - India
- Meenaskhi Energy Private Limited - India
- Ind-Barath Power Infra Limited - India
- Baramulti Group, Indonesia
- Commonwealth Bank - Australia
- Australian Commodity Traders Exchange
- South Luzon Thermal Energy Corporation
- Siam City Cement PLC, Thailand
- Ministry of Mines - Canada
- Interocean Group of Companies - India
- Bayan Resources Tbk. - Indonesia
- Sindya Power Generating Company Private Ltd
- Price Waterhouse Coopers - Russia
- Madhucon Powers Ltd - India
- Barasentosa Lestari - Indonesia
- Bhatia International Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Antam Resourcindo - Indonesia
- Ambuja Cements Ltd - India
- Mercator Lines Limited - India
- Semirara Mining and Power Corporation, Philippines
- Mjunction Services Limited - India
- Dalmia Cement Bharat India
- Parliament of New Zealand
- Petron Corporation, Philippines
- Merrill Lynch Commodities Europe
- Mercuria Energy - Indonesia
- Sical Logistics Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- European Bulk Services B.V. - Netherlands
- Holcim Trading Pte Ltd - Singapore
- The Treasury - Australian Government
- Aditya Birla Group - India
- Eastern Coal Council - USA
- Pipit Mutiara Jaya. PT, Indonesia
- The University of Queensland
- VISA Power Limited - India
- Mintek Dendrill Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- PNOC Exploration Corporation - Philippines
- Eastern Energy - Thailand
- Edison Trading Spa - Italy
- Coalindo Energy - Indonesia
- Leighton Contractors Pty Ltd - Australia
- SMC Global Power, Philippines
- Australian Coal Association
- Rashtriya Ispat Nigam Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Vizag Seaport Private Limited - India
- Toyota Tsusho Corporation, Japan
- White Energy Company Limited
- Thai Mozambique Logistica
- Kobexindo Tractors - Indoneisa
- Attock Cement Pakistan Limited
- Heidelberg Cement - Germany
- Altura Mining Limited, Indonesia
|
| |
| |
|
